Bitcoin is produced by mining, but Bitcoin mining is more memorable and works in code. So why does it need to work on the code? The settings of the Bitcoin system determine this. For example, according to Bitcoin’s setting, participants need to use a computer to do many hash collisions until they find the correct hash value and get Bitcoin as a reward. Simply put, this process is similar to doing a particular math problem in a bunch of codes and finding the correct answer to get Bitcoin, and Bitcoin is constantly being produced.
Mining is closely related to hash rate. However, mining is more than the hash rate. The higher the computer’s hash rate, the faster its computing speed, and the probability of finding the correct hash value and earning Bitcoin is also Bigger. Therefore, the miner also depends on the equipment level. The higher the miner equipment level, the higher the hash rate and the more powerful it is. Today, I will introduce the development and trend of Bitcoin miners during the ten years of Bitcoin development.
CPU mining
The earliest mining tool is the CPU, which is the CPU in the computer. In 2009, the creator of Bitcoin-Satoshi Nakamoto dug up the first block of Bitcoin-the genesis block and obtained 50 Bitcoins. The mining tool used by Satoshi Nakamoto is exactly the CPU. Therefore, the earliest to gain Bitcoin was mined through the CPU. In other words, at that time, the CPU of an ordinary computer could mine Bitcoin. This was because there were few mining people at that time and the competition was not very high, so the mining threshold was relatively low.
Later, many people began to turn to Bitcoin mining, earning income by mining Bitcoin, and the group of Bitcoin mining is getting bigger and bigger. At this time, the competition for hash rate has become more intense, and the requirements for computer equipment are getting higher and higher. People are beginning to find that the hash rate of the CPU is too low, and the mining revenue is too small. As a result, people began to look for a higher-equipment mining tool to mine Bitcoin. Therefore, the GPU mining era has officially arrived.
GPU mining
In 2010, a miner took the lead in successfully implementing personal GPU mining, and GPU mining officially debuted. One GPU is equivalent to dozens of CPUs, and the hash rate has been significantly improved, so miners began to buy a large number of computers equipped with GPUs for mining. Although Satoshi Nakamoto advocates that the mining threshold should not be set too high, everyone can participate in mining. However, at that time, the revenue of GPU mining was much higher than that of CPU mining, and miners began to use GPU for mining. Thus, 2010 is known as the first year of Bitcoin GPU mining.
FPGA mining
With the gradual popularity of GPU mining, people have discovered that miners’ performance had improved a lot, in 2011, the price of Bitcoin exceeded $1 for the first time, and the rising price made miners’ enthusiasm for mining continue to rise. Therefore, the increase in bitcoin price has made miners realize that only by having a more powerful miner can they dig more bitcoins and earn more income. As a result, market demand boosted the speed of innovation, and a powerful miner FPGA appeared.
In mid-2011, the first FPGA Bitcoin miner was launched. This was the first professional chip design for mining. FPGA mining, a simple understanding, is to take out the core wafers of the GPU separately, and then integrate many of these core wafers into one device for mining to form FPGA mining. However, due to the great difficulty of FPGA development, this mining method is not popular.
ASIC mining
In 2012, professional miners represented by ASIC officially entered the people’s field of vision. ASIC miner is equivalent to an integrated circuit device customized for cryptocurrency mining. This device is born for mining and only focuses on mining cryptocurrency. ASIC miner is still the mainstream miner from 2012 to now.
Since ASIC is built for specific functions, its hash rate is dozens or hundreds of times higher than ordinary computers. Therefore, ASIC miners have become mainstream miners and have risen rapidly. Since the second half of 2013, a large number of ASIC miners have sprung up like bamboo shoots after rain. Until today, ASIC miners are still mainstream miners. Of course, ASIC miners are controversial. For example, the energy consumption is too large, and the price of the miner itself is easily affected by the cryptocurrency market. However, basically, ASIC miners are still the most popular.
What are its advantages?
The first point is the portability of the chip miner, simple operation, and easy to use. Except for the split power supply, it is a complete miner lighter than the GPU.
The second point is that professional chip miner maintenance is superior to the GPU miner. Because of the multiple cards of the GPU, it is troublesome to repair after one or a few cards are broken. In addition, due to system reasons, the whole machine may need to be repaired. The professional chip miner can be disassembled and repaired separately.
The third point is that the stability of the chip miner is higher than that of the GPU miner, and the long-term operation is much higher than that of the GPU, and the noise level of the chip miner is less than that of the GPU miner. The GPU miner is slightly better than the chip machine in terms of heat dissipation. The ASIC miner has four fans, and the GPU miner has a single card and a single fan.
The fourth point is that the value-added space of chip miners is greater than that of GPU miners. This is because often when the miner’s price rises, the demand for chip miners is relatively great, and its comprehensive cost performance is unmatched by GPU miners.
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