What does mining power refer to (detailed explanation of mining power units)

What does mining computing power mean In the early days of Bitcoin, mining required a certain amount of energy to operate. However, with the development and application of blockchain becoming more and more extensive, various types of data also emerge. For example, every 2016 blocks, 1Gash rewards will provide power for this digital currency mining (this is called “Proof of work”). Now, encryption projects such as Ethereum and Litecoin all use different difficulty algorithms, and transform these computing processes into more scalable networks by optimizing code, so as to achieve decentralized transactions and the application of more financial products According to the statistics website CoinDance, there are currently over 30000 ASIC machines running globally, including mainstream hardware devices such as Ant S9 and Shenma M30s. But from the current situation, although these latest generation graphics cards have been phased out, the development of other new technologies is still in the early stages. So for ordinary investors, they should pay more attention to new models that can improve their returns

Detailed explanation of mining calculation unit

With the continuous development of Cryptocurrency market, mining difficulty is also increasing. The computing power of Bitcoin has increased by nearly 70% from a historical low in the past year, with a total of over 500 million units calculated on a block by block basis. This requires the network to pay approximately $150000 in maintenance fees (approximately 200000 transactions per second) every year, and due to high electricity costs and changes in hash rates, mining hardware prices have experienced significant fluctuations. Therefore, this article will further explore this issue and introduce the units of mining calculation power What is mining computing power? According to research on energy consumption by the University of Cambridge, the use cases of a type of thing called “electricity” have been greatly reduced in today’s world, which is mainly used for production, distribution, or use. For example, Bitcoin uses four times more energy than one watt hour, and if more advanced computer processors are used to mine Bitcoin, the Proof of work algorithm will be much more. The greater the energy generated by two ASIC servers, the higher their effective utilization; On the other hand, without a reliable data collection system, it will waste a lot of storage space and time By simply analyzing the resources and operational capabilities required for a data center, we can determine the components of the current blockchain mining system Figure 1. Number of active addresses in the entire network (ranked by the daily output speed of each node)

Source: Cambridge Alternative Finance Research Center

Picture 2. AntPool, the world’s largest BTC mining pool. Picture 3. Ant S19Pro, one of China’s largest BTC mining fields. Picture 4. Canaan Creative, China’s largest BTC mining machine manufacturer. Picture 5. Core Technology, a top chip design company in the United States, cooperates with Bitmain to develop new GPU equipment. Picture 6. Bitcoin average shipment time distribution (refer to Carbon credit index) Figure 7. The World’s Most Commonly Used Graphics Card Mining Hardware – T17 Series