The basics of Bitcoin: Billing Contest-Digging

In the last article, we understand the block and block chain, in the bitcoin system, about every 10 minutes to produce a valid block, each block contains the system in this time period of all transactions occurred, a lot of blocks into a chain, formed a block chain. So who is recording, who is packing the transaction, and who is going to connect the blocks to the block chain? This is what this article is going to introduce.

First of all, I'd like to share with you some good news about making a lot of money, most people I don't tell ha, that is, in the bitcoin system, anyone, as long as the completion of the above work, that is, the nearly 10 minutes of all the effective transactions recorded, and then a packet, we call it a block, and then the block to the block chain, The completion of this record, packaging, chain this three-step work, you can get 12.5 bits of reward, think about it, a bitcoin worth tens of thousands of yuan.

Of course, above I just joke with you, this opportunity to make money is true, but this competition is also very fierce, fierce to ordinary computers is almost impossible to complete the above work. There is such a good opportunity to make money, we must all be robbed right. In fact, we mentioned above the opportunity to make money, is what we often hear, bitcoin mining, mining people do is actually said above the record, packaging, hanging chain three-step work.

To take part in a mine-digging computer, not only to pick up all the effective transactions, but to pack them up, without any mistakes, and to answer a difficult contest based on all the records. Of course, here's the premise that you first have to make sure that all the transactions that are packaged in the records must be right, valid, and that you are qualified to answer the question. It's hard to figure out the correct answer to this contest question, but it's easy to verify that it's right. A better computer, of course, is faster and more likely to win the game. The winner will be able to put the parcel he packed up on the whole ledger chain. Talking about this, certainly a lot of people are eager to, I also have a computer, I also want to dig mine. Then I regret to tell you that our ordinary computer, can solve the problem of the probability of competition, than the company 10 times the Big Lotto is still low. System can be based on the entire network of computer computing power, constantly changing the difficulty of the competition, so that the control in about every 10 minutes or so only one person can solve the problem. So at the very beginning, when the whole Bitcoin network was Ben Cong only by the Bitcoin inventor, only he a computer in the answer to this topic, in order to ensure that every 10 minutes a correct answer, the contest topic will be very simple, and then with the second person, the third person slowly joined the Bitcoin network, this problem also slowly become difficult. Until now, because there are so many people in the competition, their computer computing ability is too strong, so this problem is difficult. Therefore, it is better to be famous than to dig a mine.

Next I'll talk about how prizes are distributed to winners. The bitcoin system stipulates that any person who participates in a billing contest, can add a special transaction record to the bill on his or her own record, the payer of the transaction is the Bitcoin system, the payee is himself, the amount is a system-specific number, which is halved every four years, For example, we are now 2018, and that amount can only be 12.5. So how do you make the transaction that is created out of thin air effective, that is to find a way to put it on the chain of the ledger, block chain. Therefore, only the winner can hang the package to the end of the ledger chain. The man's packaged package became part of the new book chain, and the special deal that pointed to him became an effective deal. That's it.

Well, so far, we've talked about purses, we've talked about books, and the ledger is the block chain. In the next article, we will put all these things together to form a system, and then deduce the whole system of a general operation process, please continue to pay attention to it.

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