What does mining computing power mean (what does mining computing power do)

What does mining and computing power mean? Simply put, after calculating the hash rate of a specific digital currency, the data is output onto the blockchain. This process will affect the computational power and block size of the Bitcoin network in the encryption algorithm. If a transaction is treated as a unit of account, it needs to be calculated through a series of Formula. For example, assuming 1tHash=0.004BTC If 2THash/s is equal to 0.1BTC, it is RMB 10 million Assuming 100mHash=0.00008BTC; If 1Mash=0.01BTC, it is $5 million; If 100mHash=0.0003BTC, it is $5000. (Note: The total amount is approximately 500 million US dollars)

What is the use of mining computing power?

Mining is the process of converting computing power into a large one.

. For example, if you have a computer and your mobile phone, you can use it to mine Bitcoin and Ethereum; Or you can install a computer software at home to dig digital currencies like Bitcoin and Ethereum; Or a smart phone can also be used to buy a Cryptocurrency mining equipment to open some networks and so on. Of course, this is just a process for ordinary people to understand this industry, and it is not something that real blockchain practitioners can directly participate in; It can even be said that mining itself is a change in Relations of production. So mining is not actually equivalent to trading mining What is the computational power required for mining? Generally speaking, the total amount of Bitcoin dug up is about 1T (about 400 million), which is 100000 yuan. If calculated based on 1000M, 100M is equivalent to 3000 RMB, so 200M requires approximately 4 million RMB. If the cost of purchasing computing power is many times higher than the cost of electricity, then you only need to pay a certain fee. But as time goes by, more and more people hope to find cheaper computing power to carry out mining; On the other hand, many so-called “mining” platforms in the market now use S19 series graphics cards produced by mainstream manufacturers such as Ant S9 and Shenma M20s – these are relatively expensive machines. Therefore, from the current perspective, what miners like most is to use second-hand ASIC chips for mining, and then load them into their own servers for mining.