What does 6 bits mean (16 bits and 8 bits)?

What does 6 bits mean? In Bitcoin, 6 bits refers to six decimal places. The “大” character, which looks like the number six, signifies the right and significance of a transaction to generate one currency in exchange for another digital currency. Therefore, 5 bits means that for the cost of transferring or paying someone 1 US dollar, you can receive 2 bitcoins, which is equivalent to an asset worth 3 Chinese yuan.

What does it mean to have these six decimal places? What does 6 bits mean?

From the English explanation, the meaning of “six” is: 4 has it, 3 doesn’t, and 4 doesn’t. Each letter represents 1. If we use a six-digit number to represent six transactions, then the six-digit number is equivalent to more than three times.

So what does the so-called “6 consecutive” mean? Is it a relationship between a code string and a binary key? Actually, it is not. But adding up to 6 is also a combination of two and a half homophonic characters. Each 1 bit represents an independent public chain that is separate from any other digital currency. They each have their own rules (such as Bitcoin’s block size limit of 128 MB).

16 Bits and 8 Bits

According to OKEx mining pool data, the current overall network hash rate of Bitcoin is 130.35 EH/s. In comparison, in the past month, 16 bits and 8 bits ranked top three with achievements of 14.9P, 15.1P, 5.6P, and 6.3P respectively. The blocks mined by 6 bits have already surpassed 400 million BTC (worth about 150 million yuan), accounting for 20.82% of the overall network hash rate. The highest point mined by 7 bits was around May 19th: 125,000 BTC (worth 140 million yuan). From the graph, it can be seen that there is not much difference in hash power between 17 bits and 14 bits, and 8 bits is half of 18 bits. If calculated based on historical prices, the market value of these two forked coins is approximately 200 million US dollars.