The difference between mining and mining

Contents

①What’s the matter with mining machines?

Bitcoin mining system is the process of conducting mathematical operations on the Bitcoin network through computer hardware. The miners who provide services can get a large sum of money. Because network rewards are calculated based on the amount of tasks miners complete, the competition for mining is fierce. There are hundreds of digital currencies issued all over the world, and the one that people know the most is Bitcoin. Bitcoin is a virtual currency on the Internet, and some websites can use Bitcoin to pay.
Bitcoin mining started with low-cost hardware such as CPU or GPU, but with the popularity of Bitcoin in life, the mining process has changed a lot.
Now that mining activities have moved to Field Programmable Gate Arrays, hash speed can be achieved through optimization, this mode of mining is very fast and efficient.
Mining is the competition of computer performance and equipment. Some mining machines are composed of more graphics card arrays like this. Dozens or even hundreds of graphics cards are used together. Various costs such as hardware prices themselves Very high, there is a very large payout for mining.
In the Bitcoin system, recording transactions and producing blocks is the most important job. In order to encourage everyone to participate in the recording of transaction books, Satoshi Nakamoto designed a reward mechanism and used Bitcoin as a reward.
But the bookkeeping is not that simple, because based on the idea of ​​Bitcoin decentralization, every node and every miner participates in bookkeeping, and it must be ensured that the ledger recorded by everyone is the same.
When miners collect and record transaction information, the contents recorded by each miner are not exactly the same, especially the first one, the miners must remember to reward themselves for mining. But there is only one reward every time a blockchain is generated. Who is this reward for? This requires a rule, and it is a rule that everyone recognizes, that is, the proof-of-work PoW mechanism.
The Bitcoin system will let everyone solve a mathematical problem (calculate the hash value), whoever solves it first, then the block he recorded will be recognized, the reward will belong to him, and the speed of solving depends on who Computer/machine performance is higher.
This is exactly the case, so now everyone is enhancing the computing performance of their computers and mining machines, and improving the speed of solving problems. more money.
Using an image metaphor, the proof-of-work mechanism is very similar to a tug-of-war competition. Whichever side has the most power (high computing power) can win the other side. And on both sides of the tug-of-war rope, it doesn’t matter whether you are fat or thin or how many people there are; therefore, in order to get the reward, many people can gather as a group, and in the end, the reward will be divided according to how much each person contributes.
In Bitcoin mining, gathering a lot of people to mine together is the concept of “mining pool”, which we will explain in detail in the next article.
In summary, Bitcoin mining machine mining is actually using a machine to participate in a math competition. Whoever calculates the answer first will receive a Bitcoin reward.

② The difference between virtual currency digital currency subscription and mining, which one is more profitable

Focusing on virtual currency for many years, 0 investment is increasing, come on

③ What is the difference between filecoin&IPFS mining and Bitcoin mining

The essence of the mining machine is different
The essence of the BTC/ETH mining machine is data computing equipment
Mining has been from the beginning Personal computer mining, graphics card mining, and personal mining machine mining at home have developed into clustered and specialized large-scale mining. Regardless of the initial CPU mining, GPU mining, or later FPGA mining, ASIC mining, and large-scale cluster mining, the essence is mining that focuses on improving the data computing power of mining equipment. The main components inside the miner are the computing power board or graphics card that provides computing power, and a large cooling fan.
The essence of IPFS mining machines is data storage equipment
The nature of mining machines is different, so that the configuration characteristics of storage mining machines are also very different from BTC/ETH mining machines. The storage mining machine mainly used for data storage does not need too high computing power, that is, the performance of the CPU is not too high, and the memory capacity is suitable, but it needs a large-capacity storage space, that is to say, the hard disk density per unit space is required. It is necessary to equip as many hard disks as possible. At the same time, the I/O performance of data storage should be high, and the bandwidth channel should be as high as possible. Because of the special requirements of data storage, the whole mining machine must be stable, safe and not easy to damage.
FileCoin officially announced that GPUs are required for mining. Although it means that computing resources are also used, the miners who use GPUs get block rewards, and most of them do not participate in block generation and only provide storage. The equipment does not need a GPU, as long as there is a hard disk to mine.
If you want to know more about blockchain, you can communicate with me~

④ What is the difference between crowdfunding coins and mining coins

As far as I know Rite-Hite coin belongs toCrowdfunding coins, bitcoins, thousands of gold cards, and Leile coins are all mined. If you want to know more details, you can go to the Leile Network Help Center to have a look, where is the detailed introduction.

⑤ What is the difference between staking mining in digital currency and bitcoin mining

Staking mining means that you own a certain kind of token, by staking it In a certain project, to obtain another new token for free, the pledged original token can be redeemed, and the whole process does not consume energy. Bitcoin mining relies on mining machines to obtain Bitcoin through actual calculations, which has extremely high requirements for equipment and energy.

The staking mining mode itself may cause the problem of suspected illegal fundraising.

Interstellar Alliance’s pledge mining model, in short, is that miners need to pledge a certain amount of FIL coins to the project party according to the size of the encapsulated sector’s computing power, that is, initial pledge or pre-pledge. The pledged FIL coins have a lock-up period of up to 540 days, which will be returned to the miners after the lock-up period ends, which is equivalent to the mining deposit.

As a reward, miners will obtain FIL coins with a certain probability according to the computing power of the encapsulated sector during the mining process, and this part of the reward is not released at one time, but 25% is released first. The remaining 75% is released linearly within 180 days, i.e. post-staking.

From another perspective, look at this model from the perspective of principal investment and income generation.

The summary is as follows:

Yes, from this point of view, this may be a typical principal and interest payment model. The FIL coins that are initially pledged and locked can be abstractly understood as the principal invested, and the output of mining and the linear release mode of post-pledge are much like holding coins to earn interest. If the four elements of illegality, openness, attractiveness, and sociality of illegally absorbing public deposits are added, it seems to be a disguised illegal deposit-taking model that promises to guarantee principal and interest payments.

⑥ What is the difference between Bitcoin and Ethereum mining

Bitcoin uses the SHA-256 encryption algorithm Hair, when mining, the competition is computing power. In order to improve the computing power, Bitcoin has gone through four stages of CPU mining, GPU mining, FPGA mining and now ASIC mining machine mining, and the degree of specialization is getting higher and higher.

Ethereum adopts the Ethash encryption algorithm. During the mining process, it is necessary to read the memory and store the DAG file. Since the bandwidth of each read memory is limited, and the existing computer technology is difficult to make a qualitative breakthrough in this problem, no matter how to improve the computing efficiency of the computer, the memory read efficiency will still not be very large. change. Therefore, in a sense, the Ethereum’s Ethash encryption algorithm is “ASIC-resistant”.

The difference in encryption algorithms has led to the difference in the mining equipment and computing power of Bitcoin and Ethereum. Big.

At present, Bitcoin mining equipment is mainly ASIC mining machines with a high degree of specialization. The maximum computing power of a single mining machine reaches 110T/s, and the scale of the entire network computing power is 120EH /s or more.

The mining equipment of Ethereum is mainly graphics card mining machines, and there are very few specialized ASIC mining machines. On the one hand, the “ASIC resistance” of the Ethereum mining algorithm has improved the development of ASIC mining machines. The threshold, on the other hand, is because the consensus mechanism will be transformed into PoS after Ethereum is upgraded to 2.0, and the miners cannot continue to mine.

Compared with ASIC miners, graphics card miners differ by 2 orders of magnitude in computing power. At present, the computing power of mainstream graphics card mining machines (8 cards) is about 420MH/s, and the computing power of the entire Ethereum network is about 230TH/s.

From the perspective of the time dimension of the past two years, Bitcoin The computing power of the entire network of Ethereum has grown rapidly, while the computing power of the entire network of Ethereum has grown relatively slowly.

Bitcoin’s ASIC mining machine is monopolized by several major mining machine manufacturers, and miners can only buy it from the market; Ethereum’s graphics card mining machine, although there are also special mining machines Manufacturers manufacture, miners can also DIY according to their own needs, buy accessories from the market and then assemble them by themselves.

⑦ What is the difference between PoS mining and PoW mining in the currency circle

PoW mining requires the purchase of a mining machine, the better the computer, the higher the computing power and the longer the mining time , the more currency you get. POS mining can be understood as the income generated by the amount and time of holding coins. Generally speaking, it means letting the bank generate interest. It is different from the bank whether the currency is still in its own hands, just like the pledge mining of the CellETF platform (celletf.io). Mine, put the coins in, you can calculate the income and interest on a daily basis, which is very labor-saving and convenient.

⑧ What is the difference between miner mining and virtual currency mining

The main difference between miner mining and virtual currency mining is: miner mining, the object is real minerals, Minerals themselves exist; virtual currency mining is virtual currency.

Reminder: The above explanations are for reference only and do not make any suggestions.
Response time: 2021-03-04, the latest business changes.�The official website of Ping An Bank shall prevail.
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⑨ Why is the mining mode of filecoin different from The mining mode of Bitcoin and Ethereum is mainly due to the different consensus mechanisms. Both Bitcoin and Ethereum mining use the PoW mechanism, which requires a lot of energy to do hash operations, which is not friendly to the environment, and There is no substantial value to the real economy.
Filecoin adopts the PoSt mechanism. The computing power in the PoSt mechanism is based on real and useful storage services. The amount of data owned by a miner in a period of time is used as the proof of the computing power. Based on this, the PoSt mechanism is a brand-new and future-oriented exploration of the blockchain consensus mechanism.
With the commercialization of 5G, more and more data needs to be stored, and the emergence and development of the PoSt mechanism can provide prerequisites for the subsequent business ecology.

⑩ What is the difference between IPFS mining and Bitcoin computing power

Different from Bitcoin mining, IPFS mining does not require high electricity bills, but it does not require high network bandwidth, There are certain requirements for stability. Therefore, in order for IPFS mining machines to exert their full functions, they also need to be equipped with “mines” and large-scale cluster mining. You can go to the official website of Renren Mine to learn more about IPFS mining.

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