What's up with Bitcoin?
The one-sentence description is to initialize a few bitcoins, apply to become a miner organization, and obtain bitcoin rewards when the transaction is successfully booked. As the number of bitcoins increases, the rewards become less and less. How to keep the account successfully, get a bill number that satisfies the conditions through the transaction information + lucky number hash algorithm. The simple arithmetic unit of the graphics card is more suitable for mining than the CPU, so there are many mining cards on the market, such as rx580, which is a proper slag. A card or AMD graphics card is much more than N card or NVIDIA mining card. Why? Because cheaper.
Bartering is troublesome and not conducive to commodity circulation.
It is convenient to buy and sell physical currencies, such as gold.
Physical currency mining is troublesome, and it will wear out, and human hoarding will also cause loss. Therefore, the symbolic currency produced can be issued as much as there is gold, and the money can also be exchanged for gold.
Central system virtual currency, the central system is responsible for managing every transaction.
Distributed virtual currency and multiple ledgers prevent the central system from tampering with the ledgers at will. But there is no guarantee that everyone who holds the ledger will be honest and trustworthy, and will not tamper with the ledger. Whose ledger is credible? What about stolen books?
So Bitcoin appeared.
The account book is made public, the identity signature public key is encrypted and the private key is decrypted, and the virtual miner organization
establishes an initial account book, distributes some bitcoins to each person, and records them in the account book. Search for yourself. Why was Bitcoin not distributed to me when it was created? Players don't take you, you don't recognize Bitcoin.
The bitcoin transaction bill will describe, payer number, payee number, quantity, payer’s bitcoin source book page number, payer’s public key encrypted signature.
Everyone can decrypt the payer's signature with the private key and know the payer's true identity, but cannot forge the payer's signature.
The absentee organization confirms that the payer has sufficient balance to pay.
The absentee organization can go to the bitcoin transaction bill pool to get the order to be paid, and create a new blank page in the account book
to record the bitcoin transaction bill, the account number of the previous page, the lucky number, and the number of this bill.
The number of this bill is generated by the content of this bill with a hash function to generate a 256-bit code. By changing the lucky number until the first 10 digits of the number are all 0, then this bill is generated successfully, the bitcoin transaction is successful, and the absentee organization gets 50 bits currency rewards.
When an absenteeism group successfully generates a valid bill, it needs to inform other absenteeism organizations to confirm the account book. There are 3 pieces of information that need to be confirmed. 1. The account number of the account book is valid; 2. The account number of the previous page is valid; 3. The transaction list is valid ( Check the historical bills to confirm whether the payer really has enough balance to complete the payment), after the confirmation is completed, the team will abandon the current work, record this bill into the main account book, and then continue to go to the order pool to grab orders. So far, the Bitcoin transaction is successful, and the payee can point the source of the money to this transaction when he pays next time.
If most people in the mining team are dishonest, the whole system will be unreliable. Originally, the payer does not have enough balance to pay, but if it is confirmed, then there is a problem in the system.
For example, there are 10 Kuang and miner groups, and 6 groups lie. Originally, the payer really has so much money to pay. If they insist on lying, then the payer will fail to pay. In fact, there is no need to say, what is the benefit to the miners, and the opportunity to generate a valid bill is lost in vain.
Therefore, there is only one possible attack behavior. The attacker pays 10 bitcoins to the victim A at e-node. At this time, a new f-node is produced. The attacker continues to generate new branches from e-node, generating 2 legal book pages. Nodes f1 and f2 are generated, and the trunk becomes this branch, then the money paid to A just now is invalid. Then the attacker completes the transaction at node f2 to generate node f3, and spends 10 bitcoins twice. But in fact, this kind of attack is very difficult to happen. Effective bill numbers are not easy to generate, and it is very difficult to catch up with the branch from node f1 to node e.
Bitcoin will continue to increase, wouldn't it cause serious inflation
Satoshi Nakamoto said, I also thought of this. I forgot to mention earlier, the operating rules manual I gave to the miners organization will explain that at the beginning of our agreement, every time a page of account book is generated, the group will be rewarded with 50 bitcoins. Later, every time the account book increases by 21,000 pages, the reward will be halved. For example, when After reaching 210,000 pages, 25 bitcoins will be rewarded for each account book generated; after 420,000 pages, 12.5 bitcoins will be rewarded for each page generated, and so on. When the account book reaches 6,930,000 pages, there will be no rewards for newly generated account book pages. At this time, the total amount of Bitcoin is about 21,000,000, which is the total amount of Bitcoin, so it will not increase indefinitely.
If there is no reward, no one will be a miner, so no one will help to confirm the transaction.
At that time, the miner's income will change from mining income to handling fees. For example, when you transfer money, you can specify 1% of it as a handling fee to be paid to the team that generated the account page, and each team will select the transaction order with a high handling fee for priority confirmation.
If there are more and more miners, will the bitcoin generation speed be faster?
No. Satoshi Nakamoto explained that although it is possible to join and exit the miner organization at will, resulting in changes in the number of miners, each miner will also get a code generator, but I have added a control mechanism to the code generator, and the code generator currently working The more, the lower the efficiency of each machine, ensuring that the generation rate of new book pages remains unchanged.
Although everyone's code name is anonymous, but if a certain person's code name is leaked and the account books are public, wouldn't all his accounts be found out? This is indeed the case
. For example, if you want to trade with someone, you must get his code to fill in the transaction form. Because the payee column needs to fill in that person's code name. However, Satoshi Nakamoto said that unlimited confidentiality seals can be provided, and it is recommended to use a different confidentiality seal for each transaction, so that all accounts of the same person cannot be traced by checking the account books.
Reference https://www.cnblogs.com/lsgxeva/p/11229184.html