What is the mining method of Yitaifang?

Ethereum is a cryptocurrency based on blockchain technology, which aims to provide a platform for decentralized applications. The transaction of Ethereum, like Bitcoin, needs to be verified and confirmed by mining. So what is the excavation method of Ethereum?

There are many similarities between the mining methods of Ethereum and Bitcoin, and they all get Bitcoin or Ethereum by solving mathematical problems. These problems require very high computing resources, so they need great motivation and computing power.

Ethereum adopts the algorithm of ProofofWork, which is ETHash. Unlike SHA-256 algorithm of bitcoin mining, ETHash algorithm is calculated based on DAG graph. DAG graph is a directed acyclic graph, which is generated by the initial block of Ethereum, and each new block is calculated based on the DAG of the previous block. So simply speaking, mining in Ethereum needs to solve the calculation problem of DAG graphics.

Specifically, the excavation process of Ethereum is as follows:

1. The mining node obtains new transaction information on the network.

2. The mining node packages these transaction information into a block.

3. The mining node obtains the DAG diagram of the previous block from Ethernet.

4. The mining nodes use the nodes on the DAG graph for calculation to generate new blocks.

5. The mining node sends the new block to other nodes for confirmation through the network.

6. Other nodes also need to solve the calculation problem of DAG graph to confirm whether this new block is legal.

7. If other nodes pass the verification, this new block will be added to the blockchain of Ethereum.

The mining process of Ethereum may be more complicated than bitcoin, because it needs to solve the calculation problem of DAG graphics. This also means that the excavation of Ethereum needs higher computing power and greater power support. But at the same time, Ethernet also has higher security and reliability, because it needs more nodes to participate in solving computing problems.

Generally speaking, the mining method of Ethereum is workload proof algorithm, and the calculation of DAG diagram needs to be solved by using ETHash algorithm. This mining method requires higher computing power and power support, but it also provides higher security and reliability for the Ethernet network.