What is the use of mining calculation (mining calculation results)

08/06/2023 15:34 • Metaverse Matters • 90 views

According to official information, the current use of mining calculation can help users better carry out mining The concept of mining is common in the world of blockchain, but often it is not just because there is specific data to mine that a numerical value can be calculated. Through some specialized data, one can know which projects the coin is specifically used for. Therefore, many people believe that if they want to judge or predict the market trend of the whole Bitcoin market, they need to go through a series of complex Program analysis and technical means to control it to the bottom, and then study it according to their professional knowledge to get the correct answer

Mining results

Editor’s note: This article is from the Caiyun blockchain (ID: cybtc_com) and is authorized to be reprinted by the Daily Planet

Computational power and currency price are key factors determining mining profits, so in many places we can use data for some calculations. For example, the “Bitcoin price” we are talking about today is a relatively stable indicator – a basic standard for measuring network operation. (From Weibo/Blogger @ BitcoinFaucet)

According to data from the Bitinfocharts website, the “BTC price” has risen from approximately $49000 on September 1, 2019 to over $23000 currently, an increase of nearly 30%; And this number is also much lower than the peak of the 2017 bull market of $32000 to $35000. That means our current market situation is much better than ever before! Of course, this is not something that can be achieved overnight. If we look at the current price of Bitcoin, will this trend continue? In fact, it seems that Bitcoin is still in a relatively low market state, so it is still a place worth paying attention to. Because for most investors, they do not understand what type of assets these assets are and are unable to make wise investment decisions. So what’s next? Let’s take a look at the data in the figure below: In fact, Bitcoin has been known as an investment tool since its inception. But its emergence cannot change people’s perception of the industry, and it can even be said to be the big brother in the field of encryption. Because of this, when many people focus on their so-called ‘value storage’, they become meaningless, just like the internet back then, and you may not want to distract your attention from one thing. But the question arises, even if this is done, what impact can it have. That’s why I believe Bitcoin will become a true way of storing wealth. In fact, many people do not realize that this is a very important technological advancement rather than innovation. For example, before the end of 2016, Ethereum founder V Shen said that ETH2.0 would be launched next year, but the solution at that time was just to achieve this goal. Although the Ethereum community has been debating whether to implement smart contracts, I believe that the only way to finally realize this function is to use a software development framework based on the Ethereum protocol and develop your own products through this framework. However, as more applications are implemented and more projects are launched, these new business models will continue to emerge, which may be one of the huge opportunities in the future However, even so, Bitcoin still has its solid foundation – consensus mechanism, decentralized financial system, scalability, etc. The possibility of Bitcoin having the ability to solve various practical problems is not high – although we can see that the scale of transactions that Bitcoin can handle is increasing, its network capacity is limited and cannot meet the needs of large-scale applications – which means that Bitcoin needs to process all transactions faster,

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What is the use of mining calculation (mining calculation results)

Mining results

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