Before the rise of blockchain, miners specifically refer to workers who dig coal mines. Those people gave the impression that they were covered in coal dust and covered with dark-skinned men. After the birth of blockchain, miners are no longer just short for coal miners, but have a new meaning: people engaged in virtual currency mining.

For those who have never participated in mining, it may be difficult to understand blockchain mining, so today we will start with the most basic question: What is blockchain mining? What about the blockchain coal mine?

What is blockchain mining?

There are two kinds of mining in the new era. The first one is to dig bitcoin. After every transaction, it is not complete. Transaction data must be written into the database before it can be established and the other party can really receive the money. First of all, all transaction data will be transmitted to miners, who are responsible for writing these transactions into the blockchain and completing mining to earn income.

The second is to dig a cottage. Coin, Monroe Coin, Ethereum Coin, Jianxing Coin, Bitstock and other "cottage coins". After assembling the mining machine, connect the designated mine pool, start full-load operation according to a specific algorithm, complete a calculation cycle, and obtain "one" virtual currency. Then put "this" coin on the online trading platform to cash out.

What about the blockchain coal mine?

Bitcoin can be dug up with a computer CPU. It was with his computer CPU that Satoshi Nakamoto, the founder of Bitcoin, dug up the world's first creation building block. But the era of CPU mining has long passed, and now bitcoin mining is the era of ASIC mining and large-scale cluster mining.

If you want to be a miner, it's actually relatively simple. You can start mining by buying special mining equipment. You don't have to do it yourself. In fact, the computer is performing a specific operation. For miners, it is only necessary to ensure the power supply and network connection of the mining machine.

Can blockchain mining still make money?

At first, some people got rich through blockchain mining. However, with the increase of the number of miners, the competition among miners is also great, and the profit space is getting smaller and smaller. In addition, a machine that digs 10,000 yuan of bitcoin can't dig a coin in a year, so the input cost is high and the output is low. If the market is unfavorable again, the miners will basically lose money.

So in addition to mining, more and more investors choose to invest in foreign exchange to make money. Unlike mining, the investment cost of foreign exchange is extremely low. For example, Juhui ggfx can be traded at a minimum of $8, and investors can make profits by doing long and short two-way operations, whether it is up or down. It is also very convenient for people who are busy and want to invest and make money. By downloading the MT4 trading software of Juhui ggfx to the mobile phone, they can keep abreast of the latest market conditions and participate in the transaction at any time through the mobile phone, and clinch a deal at the fastest speed, which is simple and efficient, so besides mining, it is also a good way to get rich.

Mining is not an easy task. Mining consumes a lot of resources, because the calculation of virtual currency generation is very difficult and constantly changing. After generating 20 16 data blocks worldwide, the mining difficulty of virtual currency will be doubled, so ordinary people should consider all aspects before joining the ranks of miners.