Bitcoin and block chain __ Bitcoin

keywords: Go Central, block chain technology, SHA256, Ponzi scheme, tulip bubble

Originally wanted to study block chain technology, but see Bitcoin is the first application of the block chain, in addition to the Bitcoin now so hot, so study the next bitcoin some relevant knowledge points.

How the bitcoin is produced.
A: The miners dug up the output.

How does the miner work?
A: Bitcoin system is equivalent to a central to the large ledger, each block equivalent to a page in the ledger, miners responsible for accounting. Bookkeeping is also described as a mathematical problem, which is the transaction to be recorded, including transaction confirmation and data packaging. Every 10 minutes, the miners rob the right to book accounts. The first miners were given the right to account, giving Bitcoin rewards and trading fees, but the prize coins were halved every four years. The bitcoin owner will have a bitcoin address and a private key. A Bitcoin address is equivalent to an account and the private key is equivalent to a password.

The bitcoin system is a set of mechanisms designed and developed by Ben Cong. Is the first application of block chain technology. The reward limit for a specific reward mechanism is to view other relevant information.

1 bit currency = 100 million wise

Block chain is formed by a number of blocks connected together, with a specific connection, the reader can view the relevant information.

About Bitcoin is not a Ponzi scheme, whether there is a tulip bubble. You can also search for relevant information on the Internet.