1. Principle of Bitcoin Algorithm

There are two main Bitcoin algorithms, namely elliptic curve digital signature algorithm and SHA256 hash algorithm.

The elliptic curve digital signature algorithm is mainly used in the generation process of Bitcoin’s public and private keys. This algorithm is the cornerstone of the Bitcoin system. The SHA-256 hash algorithm is mainly used in Bitcoin’s workload proof mechanism.

The principle of bitcoin generation is a special solution generated by a complex algorithm, and mining is the process of finding a special solution. However, the total number of bitcoins is only 21 million, and as bitcoins continue to be mined, the difficulty of generating bitcoins will increase in the future, and the cost of obtaining bitcoins may be higher than the price of bitcoins themselves.

A Bitcoin block consists of a block header and a list of transactions contained in the block. The size of the block header is 80 bytes, consisting of a 4-byte version number and a 32-byte previous It consists of the hash value of the block, the 32-byte Merkle Root Hash, the 4-byte timestamp (current time), the 4-byte current difficulty value, and the 4-byte random number. The block header, which has a fixed length of 80 bytes, is the input string used for Bitcoin’s proof-of-work. Constantly change the random number in the block header, that is, the value of the nonce, and perform double SHA256 operations on the block header after each change, and compare the result value with the target value of the current network. If it is less than the target value, solve the problem On success, the proof-of-work is done.

The essence of Bitcoin is actually a special solution (the solution is unique) of a set of equations generated by a bunch of complex algorithms. Bitcoin is the world’s first distributed virtual currency. It does not have a specific distribution center. The Bitcoin network consists of all users, because the existence of no center can ensure the security of data.

2. What is the hash algorithm in the blockchain

What is the hash algorithm? How to ensure the fairness of mining?

Hash algorithm is a cryptographic algorithm that can only be encrypted but not decrypted. It can convert information of any length into a string of fixed length.

This string has two characteristics:

1. Even if the input value changes only a little, the output hash value will be very different.

2. Only the exact same input value can get the exact same output value.

3. There is no law between the input value and the output value, so the input value cannot be calculated from the output value. To find the specified output value, you can only use the enumeration method: constantly change the input value, and find the output value that meets the conditions.

The hash algorithm ensures that Bitcoin mining cannot reverse the results. Therefore, the miners continue to perform calculations, essentially brute-forcing the correct input value, and whoever finds it first will be rewarded in Bitcoin.

3. Which algorithm is used by Bitcoin to generate the address of the Bitcoin wallet

First, the private key is generated, then the public key is calculated from the private key, and then the public key is calculated by the public key. The key goes through a series of hashes to calculate the wallet address.

4. How the Bitcoin block hash is calculated

The hash algorithm used by Bitcoin requires a lot of work in the Bitcoin system. Hash function operation. The Bitcoin system is stipulated like this: every ten minutes, everyone needs to calculate the hash function, and the calculated value must meet my regulations. Whoever calculates faster will receive bitcoin as a reward.

5. Bitcoin hash value

The hash algorithm maps a binary value of arbitrary length to a smaller binary value of fixed length, the small binary value called the hash value. A hash value is a unique and extremely compact numerical representation of a piece of data. If you hash a segment of plaintext and change even one letter of the segment, subsequent hashes will yield different values. It is basically computationally impossible to find two different inputs that hash to the same value.

The Message Authentication Code (MAC) hash function is typically used with digital signatures to sign data, while the Message Detection Code (MDC) hash function is used for data integrity.

The basic information of the entire Bitcoin network is as follows:

All digital currencies that need to be mined have hash values, such as Litecoin, Ruitecoin, Dogecoin, Weimengcoin, Diandiancoin, Yuanbaocoin, etc.

6. What is the Bitcoin hash function

The hash algorithm maps binary values of arbitrary length to smaller binary values of fixed length , this small binary value is called the hash value. A hash value is a unique and extremely compact numerical representation of a piece of data. If you hash a segment of plaintext and change even one letter of the segment, subsequent hashes will yield different values.

7. Which Hash algorithm is used by Bitcoin

SHA-256 algorithm

8. Bitcoin mining transportWhat is the hash algorithm used?

Hash, generally translated as “hash”, and also directly transliterated as “hash”, that is, the input of any length (also called pre-map pre-image) is passed through The hash algorithm transforms into a fixed-length output, which is the hash value. This transformation is a compressed map, that is, the space of the hash value is usually much smaller than the space of the input, and different inputs may hash to the same output, so it is impossible to determine the unique input value from the hash value. Simply put, it is a function that compresses a message of any length into a message digest of a fixed length.

9. What are the characteristics of the Kazakhstan Bitcoin mining hash algorithm

1. Irreversible, the same input value will definitely get the same hash value, But you know the hash value but there is no way to restore the input value. 2. No conflict,

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