Mining is the process of validating cryptocurrency transaction data and recording the correct transaction data on the blockchain.
\n(Those who perform this mining are called miners.)<\/p>\n
For example, in a transaction where "Alice sends 1 BTC to Bob",
\nThis information is then hashed by applying a calculation formula called a hash function.
\nThis will output a value consisting of a series of alphanumeric characters (a hash value).<\/p>\n
"Alice sends 1 BTC to Bob" \u21d2 B123HI9374H6G87GD9BNA\u2026<\/p>\n
To approve this transaction data, the hash values \u2460 to \u2462 below are required.
\n\u2460 Hash value of the previous block
\n\u2461 All transaction data for the new block
\n\u2462 Any numerical value = Nonce value
\nMining is the process of substituting the nonce value from \u2462 and searching for a nonce value that results in a hash value with 16 leading zeros.<\/p>\n
The person who completes this calculation the fastest receives a reward.<\/p>\n
[Types of Mining]
\nThere are three ways to perform cryptocurrency mining:<\/p>\n
\u2460 Solo mining: A method of mining by yourself.
\nHigh risk, high reward.
\nIf successful, you can keep all the rewards, but setting up the mining equipment is difficult, and the electricity costs are quite high.
\nFurthermore, because it is less powerful than options \u2461 and \u2462, the chances of success are said to be considerably lower.<\/p>\n
\u2461 Pool mining: A method of mining by working together as a team. (This group is called a mining pool.)
\nRewards are distributed according to computational ability.
\nTherefore, it is possible to earn relatively stable profits, but you will need to acquire mining equipment.<\/p>\n
\u2462 Cloud mining: A method of investing in organizations or teams that perform mining and having them do the mining for you.
\nYou will receive rewards based on your investment amount.
\nSince you don't need to prepare any equipment, it's easy to get started.
\nOf course, there are no electricity costs.
\nHowever, if you don't carefully choose where to invest, you could fall victim to fraud.<\/p>","protected":false},"excerpt":{"rendered":"
Mining is the process of approving cryptocurrency transaction data and recording correct transaction data on the blockchain. (The people who do this are called miners.) For example, "Alice sends 1 BTC to Bob..." Continue reading 03.What is mining?<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":1095,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","format":"standard","meta":[],"categories":[1],"tags":[52,63],"acf":[],"_links":{"self":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/column\/1444"}],"collection":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/column"}],"about":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/types\/column"}],"author":[{"embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/comments?post=1444"}],"version-history":[{"count":1,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/column\/1444\/revisions"}],"predecessor-version":[{"id":1531,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/column\/1444\/revisions\/1531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/media\/1095"}],"wp:attachment":[{"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/media?parent=1444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/categories?post=1444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.standage.co.jp\/us\/wp-json\/wp\/v2\/tags?post=1444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}