Mining - Revision history

Calliptamus: /* Staking */

2025-05-17T08:40:05Z

Staking

← Older revision		Revision as of 08:40, 17 May 2025
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	== Staking ==		== Staking ==

	Staking is a concept in the [[Delegated proof of stake]] coins, closely resembling pooled mining of proof of work coins. According to the [[Proof of Stake\|proof of share]] principle, instead of computing powers, the partaking users are pooling their ''stakes'', certain amounts of money, blocked on their wallets and delegated to the pool’s staking balance.		[[Staking]] is a concept in the [[Delegated proof of stake]] coins, closely resembling pooled mining of proof of work coins. According to the [[Proof of Stake\|proof of share]] principle, instead of computing powers, the partaking users are pooling their ''stakes'', certain amounts of money, blocked on their wallets and delegated to the pool’s staking balance.

	The network periodically selects a pre-defined number of top staking pools (usually between 20 and 100), based on their staking balances, and allows them to validate transactions in order to get a reward. The rewards are then shared with the delegators, according to their stakes with the pool.		The network periodically selects a pre-defined number of top staking pools (usually between 20 and 100), based on their staking balances, and allows them to validate transactions in order to get a reward. The rewards are then shared with the delegators, according to their stakes with the pool.
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	Although staking doesn’t require lots of computing power as mining, it still needs very stable and fast Internet connection in order to collect, verify and sign all transactions in the queue within a small timespan, which can be as short as one second. If a pool fails to do so, it doesn’t get the reward, and it may be shared with the next pool in order.		Although staking doesn’t require lots of computing power as mining, it still needs very stable and fast Internet connection in order to collect, verify and sign all transactions in the queue within a small timespan, which can be as short as one second. If a pool fails to do so, it doesn’t get the reward, and it may be shared with the next pool in order.

	A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.		A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.

	==See Also==		==See Also==

WikiR: Removed bitcoinmining.com due to low-quality content and lack of updates.

2025-02-22T13:35:28Z

Removed bitcoinmining.com due to low-quality content and lack of updates.

← Older revision		Revision as of 13:35, 22 February 2025
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	* [https://99bitcoins.com/beginners-guide-to-mining/ Beginner's Guide to Bitcoin Mining]		* [https://99bitcoins.com/beginners-guide-to-mining/ Beginner's Guide to Bitcoin Mining]
	* [https://www.bitcoinmining.com Bitcoin Mining]
	* [[Automatically mine when computer is locked\|Tutorial to automatically start mining when you lock your computer]]. (Windows 7)		* [[Automatically mine when computer is locked\|Tutorial to automatically start mining when you lock your computer]]. (Windows 7)
	* [http://www.reddit.com/r/Bitcoin/comments/18q2jx/eli5_bitcoin_mining_xpost_in_eli5/ Simplified Explanation of Bitcoin Mining] by reddit user [http://www.reddit.com/user/azotic azotic]		* [http://www.reddit.com/r/Bitcoin/comments/18q2jx/eli5_bitcoin_mining_xpost_in_eli5/ Simplified Explanation of Bitcoin Mining] by reddit user [http://www.reddit.com/user/azotic azotic]

WikiR: Removed duplicate (99bitcoins redirect), unrelated (zpool.ca), low-quality/inactive (bitcoinmining.com, weusecoins.com, bitcoinminer.com), broken (bitcongress.org, bitcoinchain.com), and outdated (bitcoindaily.org) links for better accuracy and relevance.

2025-02-19T13:39:54Z

Removed duplicate (99bitcoins redirect), unrelated (zpool.ca), low-quality/inactive (bitcoinmining.com, weusecoins.com, bitcoinminer.com), broken (bitcongress.org, bitcoinchain.com), and outdated (bitcoindaily.org) links for better accuracy and relevance.

← Older revision		Revision as of 13:39, 19 February 2025
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	* [https://99bitcoins.com/beginners-guide-to-mining/ Beginner's Guide to Bitcoin Mining]		* [https://99bitcoins.com/beginners-guide-to-mining/ Beginner's Guide to Bitcoin Mining]
	* [https://www.zpool.ca Bitcoin Multipool]
	* [https://www.bitcoinmining.com Bitcoin Mining]		* [https://www.bitcoinmining.com Bitcoin Mining]
	* [http://codinginmysleep.com/bitcoin-mining-in-plain-english Bitcoin Mining in Plain English] by David Perry
	* [https://www.weusecoins.com/en/mining-guide/ Getting Started With Bitcoin Mining]
	* [[Automatically mine when computer is locked\|Tutorial to automatically start mining when you lock your computer]]. (Windows 7)		* [[Automatically mine when computer is locked\|Tutorial to automatically start mining when you lock your computer]]. (Windows 7)
	* [http://bitcoinminer.com Bitcoin Miner]
	* [http://www.bitcongress.org/bitcoin/best-bitcoin-mining-hardware/ Bitcoin Mining Hardware Comparison]
	* [http://www.reddit.com/r/Bitcoin/comments/18q2jx/eli5_bitcoin_mining_xpost_in_eli5/ Simplified Explanation of Bitcoin Mining] by reddit user [http://www.reddit.com/user/azotic azotic]		* [http://www.reddit.com/r/Bitcoin/comments/18q2jx/eli5_bitcoin_mining_xpost_in_eli5/ Simplified Explanation of Bitcoin Mining] by reddit user [http://www.reddit.com/user/azotic azotic]
	* [https://bitcoinchain.com/pools Bitcoin Mining Pools Comparison]
	* [http://www.bitcoinmining.com/best-bitcoin-cloud-mining-contract-reviews/ Research, Review and Compare Cloud Mining Contracts]
	* [https://www.youtube.com/watch?v=GmOzih6I1zs Video: What is Bitcoin Mining?]		* [https://www.youtube.com/watch?v=GmOzih6I1zs Video: What is Bitcoin Mining?]
	* [http://yogh.io/#mine:last Mining Simulator] ([https://github.com/JornC/bitcoin-transaction-explorer GitHub source])		* [http://yogh.io/#mine:last Mining Simulator] ([https://github.com/JornC/bitcoin-transaction-explorer GitHub source])
	* [http://bitcoindaily.org/bitcoin-guides/what-is-bitcoin-mining/ Bitcoin Mining Explained]
	[[ru:Mining]]		[[ru:Mining]]
	[[Category:Mining]][[Category:Vocabulary]]		[[Category:Mining]][[Category:Vocabulary]]

Checkm4te8: change block reward after halving

2024-11-30T00:39:22Z

change block reward after halving

← Older revision		Revision as of 00:39, 30 November 2024
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	=== Reward ===		=== Reward ===
	When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 6.25 bitcoins; this value will halve every 210,000 blocks. See [[Controlled Currency Supply]].		When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 3.125 bitcoins; this value will halve every 210,000 blocks. See [[Controlled Currency Supply]].

	Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.		Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

Kamariks at 17:56, 23 November 2022

2022-11-23T17:56:00Z

← Older revision		Revision as of 17:56, 23 November 2022
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	A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.		A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.
	~~hotel obvious agent lecture gadget evil jealous keen fragile before damp clarify Mnemonic phrase~~

	==See Also==		==See Also==

Kamariks at 17:55, 23 November 2022

2022-11-23T17:55:16Z

← Older revision		Revision as of 17:55, 23 November 2022
Line 65:		Line 65:

	A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.		A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.
			hotel obvious agent lecture gadget evil jealous keen fragile before damp clarify Mnemonic phrase

	==See Also==		==See Also==

AllEd01: /* Introduction */ corrected spelling

2022-06-30T14:15:25Z

Introduction: corrected spelling

Conr2d: /* Reward */ Update current block reward

2020-06-23T03:22:54Z

Reward: Update current block reward

← Older revision		Revision as of 03:22, 23 June 2020
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	=== Reward ===		=== Reward ===
	When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 12.5 bitcoins; this value will halve every 210,000 blocks. See [[Controlled Currency Supply]].		When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 6.25 bitcoins; this value will halve every 210,000 blocks. See [[Controlled Currency Supply]].

	Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.		Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

Furunodo: A lot of altcoins are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the netw

2020-06-02T21:09:01Z

A lot of altcoins are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the netw

← Older revision		Revision as of 21:09, 2 June 2020
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	Although staking doesn’t require lots of computing power as mining, it still needs very stable and fast Internet connection in order to collect, verify and sign all transactions in the queue within a small timespan, which can be as short as one second. If a pool fails to do so, it doesn’t get the reward, and it may be shared with the next pool in order.		Although staking doesn’t require lots of computing power as mining, it still needs very stable and fast Internet connection in order to collect, verify and sign all transactions in the queue within a small timespan, which can be as short as one second. If a pool fails to do so, it doesn’t get the reward, and it may be shared with the next pool in order.

			A lot of [[altcoin]]s are using staking. Staking is often marketed as a much more efficient alternative. Unfortunately staking has the potential to not be much different than politics. A good example is that it's easy for a big actor to take over the network by simply buying enough coins. This actually happened in 2020 when TRON's Justin Sun took over the Steem "forum" network and then did some things that made some people unhappy.

	==See Also==		==See Also==

ChallengeAccepted at 10:11, 19 September 2019

2019-09-19T10:11:49Z

← Older revision		Revision as of 10:11, 19 September 2019
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	=== History ===		=== History ===
	Bitcoin's public ledger (the "block chain") was started on January 3rd, 2009 at 18:15 UTC presumably by [[Satoshi Nakamoto]]. The first block is known as the [[genesis block]]. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.		Bitcoin's public ledger (the "block chain") was started on January 3rd, 2009 at 18:15 UTC presumably by [[Satoshi Nakamoto]]. The first block is known as the [[genesis block]]. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.

			== Staking ==

			Staking is a concept in the [[Delegated proof of stake]] coins, closely resembling pooled mining of proof of work coins. According to the [[Proof of Stake\|proof of share]] principle, instead of computing powers, the partaking users are pooling their ''stakes'', certain amounts of money, blocked on their wallets and delegated to the pool’s staking balance.

			The network periodically selects a pre-defined number of top staking pools (usually between 20 and 100), based on their staking balances, and allows them to validate transactions in order to get a reward. The rewards are then shared with the delegators, according to their stakes with the pool.

			Although staking doesn’t require lots of computing power as mining, it still needs very stable and fast Internet connection in order to collect, verify and sign all transactions in the queue within a small timespan, which can be as short as one second. If a pool fails to do so, it doesn’t get the reward, and it may be shared with the next pool in order.

	==See Also==		==See Also==

← Older revision		Revision as of 14:15, 30 June 2022
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	== Introduction ==		== Introduction ==
	'''Mining''' is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "[[Mining rig\|mining rig]]" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining".		'''Mining''' is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "[[Mining rig\|mining rig]]" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining".
	This ledger of past transactions ~~is called~~ the [[~~block chain~~]] as it is a chain of [[block\|blocks]].		This ledger of past transactions calls itself the [[blockchain]] as it is a chain of [[block\|blocks]].
	The blockchain serves to [[Confirmation\|confirm]] transactions to the rest of the network as having taken place.		The blockchain serves to [[Confirmation\|confirm]] transactions to the rest of the network as having taken place.
	Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.		Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
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	Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual [[blocks]] must contain a [[proof of work\|proof of work]] to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the [[hashcash]] proof-of-work function.		Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual [[blocks]] must contain a [[proof of work\|proof of work]] to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the [[hashcash]] proof-of-work function.

	The primary purpose of mining is to set the history of [[transactions]] in a way that is [[Irreversible Transactions\|computationally impractical to modify by any one entity]]. By downloading and verifying the blockchain, bitcoin [[full node\|nodes]] are able to reach consensus about the ordering of events in bitcoin.		The primary purpose of mining is to set the history of [[transactions]] in a way that is [[Irreversible Transactions\|computationally impractical to modify by any one entity]]. By downloading and verifying the blockchain, bitcoin [[full node\|nodes]] are able to reach a consensus about the ordering of events in bitcoin.

	Mining is also the mechanism used to [[Controlled supply\|introduce Bitcoins]] into the system:		Mining is also the mechanism used to [[Controlled supply\|introduce Bitcoins]] into the system:
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	This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.		This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.

	Bitcoin mining is so called because it resembles the mining of other commodities:		Bitcoin mining is so-called because it resembles the mining of other commodities:
	it requires exertion and it slowly makes new units available to anybody who wishes to take part. An important difference is that the [[Controlled supply\|supply]] does not depend on the amount of mining. In general changing total miner hashpower does not change how many bitcoins are created over the long term.		it requires exertion and it slowly makes new units available to anybody who wishes to take part. An important difference is that the [[Controlled supply\|supply]] does not depend on the amount of mining. In general changing total miner hashpower does not change how many bitcoins are created over the long term.