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What’s the use of Satoshi Nakamoto in mining? (How does Satoshi Nakamoto play in mining?)

• Metaverse Matters • 127 views

What’s the use of Satoshi Nakamoto’s mining block? What’s the use of Satoshi Nakamoto’s mining block? Briefly introduce what is the Satoshi Nakamoto mining block According to the Bitcoin White Paper, Bitcoin is a network system designed, encrypted, and open-source by computer programs – it generates a block through computation. This block is generated by a separate application (called a “hash”) and contains a string of numbers or characters. This code allows users to sign transactions with specific passwords and send them to designated recipients. This allows anyone to create blocks to record their identity information, such as public or private keys and other important attributes In order to facilitate a clearer understanding of these features, let’s first define “hash” and its types. Hash is a random function used to represent certain data to determine the correspondence of each hash value; If the hash value is 0, the corresponding result will be obtained based on the relationship between the input and output and the current hash. That is to say, when you have a new SHA256 algorithm, the hash can represent a new address, so that it has the same number of new addresses that can be added to the blockchain

In fact, in the early years of Bitcoin, only two miners owned the same currency: Bitcoin Cash cash and Litecoin. But technically, Satoshi Nakamoto has controlled the circulation of many tokens. So after the birth of Bitcoin, few networks have participated in Satoshi Nakamoto’s mining activities. But as the price of Bitcoin continues to rise, the rewards for Bitcoin mining are also decreasing. “The more power you dig out, the more profit you will get.” Satoshi Nakamoto once explained, “The value of the power you dig out depends on who decides whether your wallet is safe.”. However, he pointed out that “Satoshi Nakamoto does not intend to hold Bitcoin himself. Therefore, Bitcoin can only be obtained by purchasing more ASIC devices, and then selling all BTCs for other assets, so as to ensure that you will not lose Bitcoin.”

In addition, He also added: “Due to the anonymity and decentralization of Bitcoin, it has been in the early stage of development and has not yet seen large-scale applications, so it is still necessary to further develop and improve the infrastructure and protocols of Bitcoin.”

Finally, he stressed that “Satoshi Nakamoto does not care about whether there is a ceiling or any restrictions on your excavated shares”, But he also believes that the consensus mechanism of Bitcoin should enable all validators to understand this

How Satoshi Nakamoto plays mining

According to cryptoglobe, recently, Satoshi Nakamoto published a mining tutorial on his website. Players can use Satoshi Nakamoto’s address to transfer bitcoin, or participate in mining in other ways In the coming weeks, we will introduce some of the most interesting content: “How to Play Mining”. What is Satoshi Nakamoto Mining? It is a method of using blockchain technology to provide computing resources for computers to achieve their goals through mathematical operations Simply put, you need to package a block into a new transaction, and this process is called “timestamp”. If a new block is created without any validation or confirmation, the data will be lost and recorded and copied at some point in the chain. If you want this work to be completed smoothly and continue, it will take a long time to find the original block.

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