Those who are familiar with Bitcoin often hear the term ‘mining’, which is the way Bitcoin is generated. How exactly does it work? Let’s find out today.

　　The role of traditional Internet is to realize the free circulation of information, while blockchain systems like Bitcoin are to realize the free circulation of valuebetting online website lottery online，come on baby. Bitcoin and other similar Online casino and How to find it are like real-world dollars, RMB, etc., and act as general equivalents to enable the free circulation of assets on the blockchain system.

　　So-called ‘mining’ is to collect and confirm the transaction data that has not been confirmed by the network in a certain period of time, then package it into an unalterable transaction record information block, thereby completing a network-recognized transaction record and permanently preserving the record.

　　In the network, about every 10 minutes, a data block will be recorded, which contains all the transaction data in the past 10 minutes. Since each node wants to package and confirm this data block, it is a scramble to see who will package it. The node that finally confirms the packaged data block will receive additional rewards, these rewards are the newly generated bitcoins, which is the issuance process of Bitcoin.

　　Mining is a metaphorical term, because during the process, there will be a Bitcoin reward. Its real name is PoW (Proof of Work), which means proof of work. This is an economic concept, which is a strategy to prevent the abuse of services or resourcesonline casino download and Latest Address. The proof of work system can be seen as two steps, one is work, and the other is the verification of work.

　　The number of bitcoins is limited. According to the Bitcoin supply mechanism, the number of bitcoins each person can mine is proportional to the proportion of the mining equipment’s computing power to the total computing power of the entire Bitcoin network. In the early days when participants were few, mining was very simple. With the development of Bitcoin, the mining equipment competition has become more intense, and the difficulty of mining Bitcoin has also increased.

　　According to the design of the Bitcoin system, a transaction record block can be produced every 10 minutes. Initially, for each production of a transaction record block, there would be a reward of 50 bitcoins, so initially, there would be 7200 bitcoins produced every day, but the reward would be halved every 4 years, eventually only 21 million could be in the system, until the mining reward is exhausted.

　　The consensus mechanism of Bitcoin PoW also has certain drawbacks, such as low network performance, long block consensus confirmation time, and slow transaction speed. In addition, the competition among many mining machines leads to a large waste of resources such as electricity.

　　Therefore, the public chain represented by波场TRON currently adopts the DPoS (Delegated Proof of Stake) consensus mechanism. This mechanism is that each coin-holding user has the right to vote for proxy nodes, and the node with the most votes will take on the responsibility of generating new blocks. Currently, there are 27 super nodes on Tron, which greatly reduces the time for block creation and confirmation, significantly increasing the transaction speed. The processing speed of Tron TRON has already exceeded 2000 per second, far exceeding the processing speed of 7 transactions per second of Bitcoin per second, making commercial applications in the future have infinite possibilities. It also avoids the waste of resources caused by competitive mining.