Virtual Currency Development topic (How much do you know about the blockchain of Shanzhai coins)

Blockchain Enthusiast (qq:53016353)

Data is permanently stored in the blockchain bitcoin network via chunks (Blocks). Each chunk contains information about all recent transactions, a Nonce (random number), and the hash value of the previous chunk. When the SHA-256 hash value of the entire chunk falls below the current target value, it is marked as resolved (published and validated across multiple nodes). It is often difficult to reach a goal at a time, so the Nonce must be increased and chunks must be re-hashed for millions to reach the target.



Blockchain Bitcoin transactions are broadcast to the network by the sender, and all mining nodes (clients) collect Bitcoins and add them to the chunks they are working on. If the turnover is large, exceeding the average turnover, then the network will deduct a small amount of transaction fees.


The first trade in each chunk is special: it creates new bitcoins for the first person to have a valid chunk. The other node (the Bitcoin client) will only accept the chunk if the transaction volume is correct. The number of Bitcoins generated per chunk is 50, which is halved per 210,000 blocks (approximately 4 years).


The network tries to create 6 chunks per hour. Every 2016 blocks (approximately two weeks), all Bitcoin clients compare this target to the number of blocks actually created, modifying the percentage of difficulty the chunk collects to maintain this goal.


The client considers the "longest" blockchain to be valid. The "Length" of the entire blockchain refers to the chain with the most difficulty added, rather than the chain with the most chunks. This prevents someone from forging and creating a large number of low-difficulty chunks, tricking the network into accepting them as "longest" chains.


How many chunks have been collected now?


Click here to see how many blocks are currently collected


What is the maximum number of chunks?


There is no maximum number. Chunks will continue to be added at the end of the blockchain at a speed of 10 minutes.


Even when all 21 million Bitcoins are collected, the chunks will continue to grow.


Yes. Blocks are used to prove that a transaction exists at a specific time. After all bitcoins have been collected, the transaction will still occur. So as long as someone trades bitcoins, the chunks will still be created.


How long does it take to acquire a valid chunk?


No one can say exactly. There is a mining calculator that tells you the time that may be spent.


What does it mean if I calculate the progress of a chunk by 1%?


There is no 1% increase in progress. Each operation does not increase the progress. You calculate the odds of getting bitcoins after 24 hours and are equal when you first calculate.


　　This and you rotate 37 coins at the same time and make them all face up. Every time you try, your chances of success are the same.