What professional knowledge does computing power need and what is computing power used for?

What professional knowledge does computing power need? Bitcoin’s computing power started mining on December 1, 2009, and didn’t completely stop operating until early 2014. However, since August 2015, with the skyrocketing price of cryptocurrency, the value of the entire network’s computing power has been continuously rising. From the end of 2017 to the beginning of 2018, the difficulty of the entire Bitcoin network has reached a historical high of nearly $20,000!

So, what professional knowledge does computing power require? Let’s understand together. What exactly is computing power? Blockchain technology has decentralized characteristics that allow people to participate as nodes, maintain a system, and run the accounting process.

Simply put, it turns a part of a computer or software into a subset (such as a hard drive) of its own database. The purpose of this is to solve the problem of information transfer, achieve data immutability and security, and ensure that the data of each block will not be copied or deleted by others using algorithms.

So, does computing power require professional knowledge? What benefits can it bring you? First of all, as you know, we need specialized computing devices that can process a large amount of data and analyze it. At this point, you don’t have to worry about computer failures because this work principle provides users with hardware resources and machine services to complete tasks without bearing a large amount of labor costs. Therefore, if you use dedicated servers or personal IT tools, you can ensure that you have a reliable and secure data host. So if someone wants to get more resources, they can join our team to reduce operating costs, reduce waste, or even confiscation. At the same time, for ordinary people, computing power is a very complex work procedure that requires many skills, and all responsibilities are undertaken by one person, which requires everyone to have a dedicated person to help manage your business. In addition, as an engineer, you can spend your idle time on how to improve efficiency, such as learning programming and various aspects of operating systems. Then you will find that when everyone wants to use cloud storage, they will automatically create new scripts to help developers optimize their products, which is quite difficult, especially when it is not clear how to understand the code.

Furthermore, as computing power is a relatively high form of network bandwidth, to facilitate understanding the development direction and characteristics of computing power, many people choose to start a company called “Interstellar Continent” to engage in computing power-related work. In fact, the current computing power on the market is mainly divided into three types:

1) Main chain computing power;

2) Virtual machine computing power (including graphics cards) and production-level mining machines such as S9;

3) Side chain computing power;

4) Smart contract computing power;

5) Cryptocurrency asset trading and settlement;

6) IoT computing power.

1. IoT – computing power of artificial intelligence, can be used to predict the trends of the future world;

2. Distributed financial computing power, using an efficient method to make it more flexible, stable, and targeted.

What is computing power used for?

Editor’s note: This article is from the blockchain media BlockBeats (ID: blockbeats), authorized reprint by Odaily Planet Daily.

How does Bitcoin computing power come about? It is actually what we call “mining”. In the traditional Internet industry, the more coins you mine, the less money you earn from selling them. But now, the concept of computing power has become popular—what is computing power, how to earn profits from it, and what problems can computing power solve? Today, I will briefly talk about computing power.

What is computing power? Computing power is a peer-to-peer network, which is a way based on computer code calculation and information transmission. When you use a computer, the computing resources will be automatically broadcast to the machine. If you want to achieve higher network efficiency and better security, you can transfer your device to this machine to mine the hash value required by the algorithm and earn rewards. But this is just a simple probability function. When a computer needs to process a large amount of data, it can obtain a lot of data, thereby achieving faster speed and reducing costs. Suppose someone wants to conduct more transactions, they can convert their hardware into another computer or smart contract. So you need to purchase servers to ensure that these programs can be run. Remember this: “Software developers improve the reliability of software through continuous updates and iterations.” That means as long as someone is willing to pay, the system will provide corresponding services. And users can install various software on their smartphones or laptops. Of course, third-party companies like Google, which have users with more than 1TB of storage space, can also access this software. For example, large technology giants like Tencent have begun to support blockchain technology, and even BitMain is developing new blockchain chip products. Therefore, the same goes for computing power. (Image source: Coinmarketcap)

Why does it make so much money? Because many people don’t understand the so-called Bitcoin, they only know to buy an ASIC miner and use some graphics cards to mine virtual currencies called “AntMiner”. But is this really the case? Actually not, because the skyrocketing price of Bitcoin has caused people to purchase valuable items without the need to buy a hard currency. For example, some people bought it for several thousand yuan during stock trading and even persisted in buying something worth hundreds of thousands of yuan. However, from the actual situation, these digital assets are indeed attractive because of their scarcity and liquidity, which makes them have great potential. With the development of time, computing power may generate certain value just like ordinary stocks. For investors, it is very difficult to invest in a company’s stocks. First, it is necessary to understand whether Bitcoin is risky. Secondly, it is necessary to recognize the security risks of Bitcoin itself and the potential threats it faces. Finally, due to the high volatility of Bitcoin, many investors cannot determine whether Bitcoin is safe, and can only rely on high-priced fund allocation to their own investment varieties. Therefore, even if Bitcoin falls below $10,000, other altcoins will also fall. On December 16, 2017, Bitcoin.com reported that the Bitcoin Core team claimed that they had identified all the content unrelated to Bitcoin.