What exactly is mining?

Mining does not entail drilling a cave beneath a hole to mine; rather, mining bitmain t17+entails using chips and random number-related calculations to exchange a virtual coin for an answer. Each country's currency can be exchanged for virtual money in some way. The more powerful the chip, the faster it can find this random answer and, in theory, generate more virtual coins per unit of time. Because of the random numbers involved, rewards are only given if the answer is discovered. One chip may find the answer in one second, while ten chips may take a week. The more chips that are counted at the same time, the easier it is to find the answer, and this is where the multi-chip mining machine comes in. While creating a "wild" mining pool, multiple mining machines are more efficient. The mining pool is made up of many "artisans" who have formed an organization to mine together. Whoever finds the answer and digs up the virtual coins will be rewarded all at once based on their computing power, making the "artisans'" income more stable.

As an example, consider the following:

I can write a string of numbers on a piece of paper, give a portion of the hint, antminer a10 proand award a bonus to the person who correctly guesses (mining)

Based on the hints, a wise person can make more educated guesses (computational power)

Someone pays a large number of people to return and guess together (mining)

Someone summons us all to make guesses, and regardless of who guesses, the prize is distributed fairly in proportion to the number of guesses each of them makes (mining pool)

As the preceding example demonstrates, the more people who guess, the smarter they are, the better their chances of guessing, and the greater the corresponding reward.

The Mining History

Initially, we could mine bitcoins using a computer CPU. Satoshi Nakamoto, the creator a10 pro minerof Bitcoin, mined the world's first Genesis building block with his computer CPU. However, the days of CPU mining are long gone, and now is the time for ASIC mining and large-scale cluster mining in Bitcoin mining. Looking back at the history of bitcoin mining, the following five events occurred: CPU mining, GPU mining, FPGA mining, ASIC mining, and large-scale cluster mining are all options. At the same time, mining chip upgrades have resulted in changes in mining speed, including: CPU (20m hash u 002 fs); GPU (400 mhash u 002 fs); FPGA (25 ghash u 002 fs); ASIC (3.5 hash u 002 fs); and large-scale cluster mining (3.5 hash)

Mining speed, also known as computing power, is a computer's ability to generate hash conflicts per second. That is, how many hash conflicts can our miners generate per second, i.e., computational power. The ability to mine bitcoins is referred to as computational power. The more computational power there is, the more bitcoins are mined and the greater the return.