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A. What exactly is blockchain and can it make money?

Blockchain is a new application of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. model. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system.

How to make money in the blockchain:

1. Earn commissions through promotion.

The blockchain approach is to first register an exchange account, generate your own invitation link, and then promote it. If someone registers the exchange through your link and generates transactions, you will get a commission.

2. Coin speculation.

Speculating in currencies is like speculating in stocks. Coin speculation is the lowest threshold way to make money in the blockchain.

3. Mining.

"Mining" in Bitcoin is the accounting process. This process requires grabbing, and if you grab the opportunity to bookkeeping rights, you will be rewarded, and the reward is Bitcoin. This behavior is "mining".

4. Develop wallet.

The wallet is the infrastructure of the blockchain, just like the "Alipay" or "WeChat Pay" of the blockchain.

Extended information:

1. Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the bottom layer of Bitcoin. technology. The blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction and is used to verify the validity of its information (anti-counterfeiting) and generate the next block.

2. Blockchain was born from Satoshi Nakamoto’s Bitcoin. Since 2009, various Bitcoin-like digital currencies have appeared, all based on public blockchains.

3. On January 20, 2016, the Digital Currency Seminar of the People’s Bank of China announced that it had achieved phased results in digital currency research. The meeting affirmed the value of digital currency in reducing the issuance of traditional currency and stated that the central bank is exploring the issuance of digital currency. The expression of the People’s Bank of China’s Digital Currency Seminar has greatly enhanced the confidence of the digital currency industry. This is the first time that the five central bank ministries and commissions have expressed a clear attitude towards digital currencies since they issued a notice on preventing Bitcoin risks on December 5, 2013.

Blockchain - Network

B. Can digital currency really make money?

No one except those who make coins
I really made money

C. How does blockchain technology make money? Please answer.

There are four ways to make money with blockchain technology:

1. Hardware and infrastructure, typically mining machine production and distribution chains, where you can buy mines Make money by using machines and mining to earn coins.

2. Blockchain underlying platforms and general technologies, such as public chains such as Ethereum, privacy protocol Nucypher, etc. Here you can earn money by investing in their tokens, building on-chain applications, and providing services to users.money.

3. Various vertical applications, such as blockchain-based supply chain traceability and finance, copyright confirmation and transactions, etc. You can use these applications or invest in their tokens to make money.

4. Service facilities, such as digital asset exchanges and wallets, media products, etc. You can make money by setting up an exchange yourself.

(3) Can Ruifeng Blockchain really make money? Extended reading:

Types of blockchain

1. Public blockchain

Public Block Chains refers to: any blockchain in the world Individuals or groups can send transactions, and the transactions can be effectively confirmed by the blockchain, and anyone can participate in its consensus process.

Public blockchain is the earliest blockchain and the most widely used blockchain. The virtual digital currencies of all major bitcoins series are based on public blockchains. There is only one such blockchain in the world. The blockchain corresponding to the currency.

2. Consortium (Industry) Blockchains

Industry Blockchains (Consortium Block Chains): Multiple pre-selected nodes are designated within a certain group as bookkeepers. The generation of a block is jointly decided by all pre-selected nodes (pre-selected nodes participate in the consensus process), and other access nodes can participate in transactions.

3. Private Blockchains

Private Blockchains: Only use the general ledger technology of the blockchain for accounting. It can be a company or a company. Individuals have exclusive write permission to this blockchain. This chain is not much different from other distributed storage solutions.

D. Can anyone tell me whether blockchain transaction mining will lose money?

Losing money is possible under any circumstances. It is possible that there is no investment in this world that is 100% sure to make money.

With the rise in the price of Bitcoin, the mining industry has become a veritable "gold mine". The large influx of newcomers and retail investors has made the Bitcoin market

Coin mining machines are hard to come by.

It is precisely in the face of such a market that the price of Bitcoin mining machines has also begun to rise. Not only that, because the number of Bitcoins is becoming increasingly scarce

, so mining The difficulty is getting bigger and bigger, and now the production capacity of Bitcoin mining will gradually decrease.

When the revenue of the mining machine is not enough to pay for the electricity consumed, the currency price at this time is called the "shutdown currency price". The influencing factors include currency price, electricity consumption

price, mining Mining difficulty, etc., if the currency price falls below the "shutdown currency price", miners need to shut down the mining machine, otherwise they will lose money.

So, any industry has certain risks, and only when you devote yourself to this industry, that is, after you understand it deeply

, you will know the risks involved, and you need to bear these risks before you can continue to develop in this industry.

Blockchain mining:

In 2009, Satoshi Nakamoto invented Bitcoin and set a limit of 21 million Bitcoins. In the Bitcoin network, by participating in the production of blocks and providing proof of work (PoW), you can obtain rewards from the Bitcoin network. This process is mining.

The concept of "mining" is taken from the existing concepts in our real economic life, such as gold mining, silver mining, etc., because minerals are valuable

That’s why people are driven to pay labor to dig.

Another important point in Bitcoin mining is that the miners participating in mining recognize the value of Bitcoin, and there are people in the market who are willing to mine the Bitcoin market

Spend money. So, Bitcoin mining makes sense.

E. Can you make money from blockchain mining?

The Bitcoin system relies on adjusting the difficulty coefficient to ensure that Bitcoin is not mined too quickly. Every 10 minutes, the entire network is calculated together. Difficulties compete for accounting rights and Bitcoin rewards. If the computing power of the entire network continues to increase, Bitcoin will be mined soon. In order to ensure that Bitcoin is stable and a block is dug out in about 10 minutes, Satoshi Nakamoto designed miners to mine Bitcoins. The difficulty of the coin is dynamically adjusted every 2016 blocks (about 2 weeks), so that the adjusted difficulty makes the expected time to generate a block 10 minutes. The current difficulty coefficient is about 480PH/S (Note: 2017 September 2018) is about 68 billion times the genesis block. In other words, with the current computing power, miners on the entire network need to go through about 3000 trillion hash operations to find a qualified answer and generate a new block. piece.

Compared to peer-to-peer trading, mining and other purchases on trading platforms are currently the most mainstream way to obtain Bitcoin assets, that is, on-site trading. Bitcoin on-site trading is similar to stocks, and the platform helps you For matching, you don’t need to know who the counterparty is with you. Your counterparty may be one person or many people. Whether it is buying or selling, the trading platform will record the price of everyone’s pending orders, buying and selling. Both parties can obtain the latest transaction price through real-time buying and selling orders. At the same time, the trading platform will summarize historical transaction prices and trading volumes into K-line charts, which is convenient for investors to analyze market trends. For example, the Uto market is a relatively mainstream trading platform in the world.

At present, Bitcoin is a relatively mainstream currency, and everyone’s awareness of Bitcoin is getting higher and higher. Bitcoin has tripled in just 3 months, which fully shows its value. The float of RMB 25,000 at the beginning of the year has increased to the current value of one Bitcoin of RMB 80,000. As long as you buy it at a low price to invest in the float and then sell it at a high price, you can get profits. It is crucial to find a reliable trading platform. utomarket has a technical team with many years of blockchain development experience and professionalThe wallet security team monitors non-common device IP login verification, monitors commonly used IP addresses for wallet withdrawals, and manually reviews large-amount operations to ensure the security of accounts and wallet funds. Moreover, there are currently no handling fees for transactions, and the price of Bitcoin is more suitable than similar platforms, making it the best choice for trading virtual currencies.