Bitcoin and Ethereum Mining Power (Which is easier to mine, Bitcoin or Ethereum?)
What is the mining power of Bitcoin and Ethereum? What is the mining power of B
What is the mining power of Bitcoin and Ethereum? What is the mining power of Bitcoin and Ethereum? What is the mining power of Bitcoin and Ethereum? How is the hash rate of Bitcoin calculated? It is determined by computer calculations to determine if a block is valid. According to the rules given by Bitcoin official, each block needs to mine 12.5 Bitcoins or 250,000 Ether to be extracted. According to this rule, a reward of 6.25 BTC (equivalent to approximately 1 USD) can be obtained every 10 minutes.
The full network difficulty of Bitcoin is 20T; the full network difficulty of Ethereum is approximately 31.5T; the estimated total mining power of the Ethereum network is around 1.6 billion USD. In the past few months, the price of Bitcoin has risen from $8,000 to around $13,000, but with the development of the Ethereum network, the network transaction fees of Bitcoin have also started to decrease.
Which is easier to mine, Bitcoin or Ethereum?
Which is easier to mine, Bitcoin or Ethereum?
In the past few years, the mining industry has developed to a very complex state. Currently, the most popular in the market are ASIC chip manufacturers Canaan, which has newly launched dedicated integrated circuit design units M1, Avalon, and renewable energy project LedgerX. Among them, TSMC’s 8nm process complements Intel’s SGX technology and performs cryptocurrency mining through a newly developed GPU accelerator. It is said that Bitmain has recently received investments from two globally renowned companies, both of which are seeking to transform themselves from the “richest in the world” to the best company in the world, and both of these companies have their own teams to help them achieve this goal.
In addition to GPU mining, another more important value storage method of the blockchain network is the smart contract system. If someone wants to use a specific algorithm or tool to execute a smart contract, then you must first build a decentralized network, which is called a “virtual machine”, which is a computational hardware that can run without programming. Because this special design element can improve performance, reduce resource consumption, and enhance security advantages, developers do not have to worry about losses caused by vulnerabilities, etc., as they can run the code without any software, so these functions are immutable.
In addition, although the mining power of Bitcoin is currently insufficient to guarantee its stability, similar problems have also occurred in other public chains. For example, the insufficient number of nodes on EOS has caused the nodes to not function properly, and even some DApps have high transaction fees. In comparison, the overall network mining power of ETH is the highest. However, as more and more mainstream applications are pouring into Ethereum, the Ethereum ecosystem is gradually forming and it is constantly improving and enriching its own application scenarios, including trading platforms DeFi, stablecoins, etc.
However, for users, the pressure seems to be small in the zero-test phase of Ethereum 2.0, and many investors complain that the gas fees of Ethereum are too expensive. In fact, when we consider a problem that Ethereum 2.0 may face after its launch is how to get more people involved?
Of course, there are two ways to avoid such situations:
The first approach is to purchase a high-performance CPU or a laptop that processes a large amount of data processing power, and then install the corresponding operating system. The second option is to customize various computer devices according to different needs, such as mobile phones, brains, etc.
The third method is to use GPU to quickly create blocks and generate new blocks, so that only a few hundred transactions can be completed per second, and it takes about 50 minutes to reach the confirmation time, without investing a lot of effort.
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