What does pow mining mean (how long can pow mining continue)?
What does pow mining mean? The difficulty of Bitcoin mining has been increased
What does pow mining mean? The difficulty of Bitcoin mining has been increased by 15 points, reaching 17500T. Pow mining refers to the mechanism of obtaining a reward by calculating hash values; PoW is a proof-of-work consensus algorithm (POW) that is used to solve the problems of payment and transfer in digital currency transactions. The Pow mining technology used in PoS has good prospects for application in network security issues; and pow mining also has certain anonymity, untraceability, and decentralization characteristics, and is used for various purposes.
How long can pow mining continue?
Editor’s note: This article is from Caicloud Blockchain (ID: cybtc_com), authorized by Odaily Star Daily for reprinting.
POW is the consensus mechanism of Bitcoin, and Pow mining is still ongoing, but there is still a long way to go. As can be seen from the graph above, Pow mining has been underestimated since its end on August 1, 2020.
This issue has also been resolved. According to Coinmarketcap data, more than 20,000 computers have been invested in the PoS network for mining since the end of 2017. There are significant differences between the bear market in 2019 and the bull market in 2019:
1) The price fluctuation of PoS coins is very large;
2) The mining difficulty has increased due to the halving of block rewards;
3) The economic model of PoB has not changed much, so how long can Pow mining continue?
If we look at the current situation, the computing power of Pow mining pool will continue to decline during this period, but it is currently in a relatively stable state. (Image source from coinmarketcap)
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