What mining consensus mechanism does Bitcoin use (how Bitcoin mining makes money)

According to Bitcoin, what mining consensus mechanism does Bitcoin use? How much determines the blockchain rewards of Bitcoin? Each block on the Bitcoin blockchain is considered a complete hash value. According to the current network conditions and difficulties, this process will produce a series of complex results (such as: block out time, average block out time, number of transaction confirmations, etc.), which ultimately lead to many Glitch points and error messages (such as unprocessed transactions, etc.) in the Bitcoin network. Therefore, Bitcoin is a deflationary monetary system

What is Bitcoin Mining?

Mining is actually the core of Bitcoin. It generates cash by mining Cryptocurrency. The value of Bitcoin mainly comes from the value and output it can generate. When people want to trade in the market, they must pay a certain amount of price to obtain corresponding profits. If an investor wants to purchase Bitcoin at these prices without selling them, they need to purchase more Bitcoin to obtain more returns, which is an unreasonable investment method for ordinary people We know that many countries around the world have adopted a similar approach to managing funds and their wealth reserve assets in their financial systems, such as the United States, Russia, Germany, Japan, etc. Many of these countries have already begun to use this method to deal with their economic interests or other aspects, such as the United Kingdom and Canada, which are also using this technology. However, due to the immutability of blockchain technology, So it’s difficult to achieve this. But now many people believe that one of the many problems that blockchain can solve in the digital currency industry is its low efficiency. (This article is compiled by Daily Planet)