How to mine Bitcoin-proof of work

Content

We know the process of information calculation Hash packaging: transaction records, time, ledger serial number, and previous Hash value. We also know that all calculations and storage consume computer resources. In Satoshi Nakamoto's design, the completion of bookkeeping can obtain bitcoin rewards from the system. This process is also the process of bitcoin issuance, so bookkeeping is called mining.

Bookkeeping

Because there are rewards for bookkeeping, you can add a certain amount of bitcoins for yourself every time you book. Therefore, everyone scrambles to keep accounts. Of course, it can also cause a problem: after the inconsistency of accounting occurs, the system introduces workload Proof to solve this problem, the rules are as follows:

1. In a period of time, only one person can successfully book the account.
2. Obtain the sole right of bookkeeping by solving the competition of cryptography problems
3. Other nodes copy the accounting results
   However, before the proof of work, the accounting node will do the following preparations:
4. Collect the original transaction information in the broadcast that has not been recorded in the ledger
5. Check whether the payment address in each transaction information has enough balance
6. Verify that the transaction has the correct signature
7. Pack and record the verified transaction information
8. Add a reward transaction: add 12.5 bitcoins to your address
   If the battle for the right to bookkeeping is successful, you can get a reward of 12.5 bitcoins.