What is the calculation process and algorithm used in Bitcoin?

Bitcoin comes from mining. Bitcoin mining is the process of using computer hardware to calculate the location of Bitcoin and obtain it. Miners use computer computing power to obtain virtual digital currency through complex and specific algorithms, but everyone Do you really know what Bitcoin calculates? Bitcoin is being mined slower and slower due to specific algorithm limitations. The so-called Bitcoin calculation is essentially solving a complex mathematical problem that requires a lot of computing power. This calculation process is often called The following is a detailed analysis of workload proof.

What exactly does Bitcoin calculate?

Bitcoin’s calculations mainly rely on the SHA-256 algorithm. This encryption algorithm based on cryptography principles can convert input data of any length into a fixed-length output. This conversion process not only ensures the security and anonymity of the Bitcoin network, but also the reliability of the network. Therefore, Bitcoin’s computing does not serve a specific application or computer system, but is intended to maintain the security and stable operation of the entire network.

In addition to mining, Bitcoin transactions also require calculations. Each transaction generates a record and is packaged into a block, and a hash value is generated through calculation. This hash is added to the blockchain, indicating that the block has been computationally verified and approved. This process uses Bitcoin’s private and public keys for digital signature and verification.

What algorithm does Bitcoin use?

Bitcoin uses the Proof of Work algorithm, also known as the hash algorithm. This algorithm requires the computer to solve a complex mathematical problem through a large number of calculations to prove that it has completed a certain amount of work.

Bitcoin’s hash algorithm is SHA-256, a 256-bit cryptographic hash function. By calculating the transaction data and the hash value of the previous block, miners can find numbers that meet certain conditions. This process is called mining.

Bitcoin’s algorithm requires a lot of computing resources and electricity for mining, so the energy consumption of the Bitcoin network is highly controversial. The high energy consumption is mainly due to the characteristics of the proof-of-work algorithm, which requires a large amount of calculations to solve complex problems. This results in a huge difference in energy consumption between Bitcoin and the traditional financial system.

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