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What does blockchain mining mean (is the blockchain mining platform legal)

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What does blockchain mining mean (is the blockchain mining platform legal)

What does blockchain mining mean? Simply put, it means encrypting the computing power and hash value of a computer together to generate a block Blockchain transactions in the Bitcoin network require a large amount of computing resources to complete, making mining easier, faster, and more secure; With the development of Bitcoin, mining has become a trend. Therefore, through the research and analysis of blockchain data storage methods, we can draw the following conclusion:

If we want to obtain a Bitcoin or some token income, these tokens must be native digital currencies after successful mining (Ethereum is the largest circulation in the market at present)

So Bitcoin and Ethereum are decentralized virtual machines based on consensus algorithms, but they both use the Proof of work mechanism and do not have any economic incentives to ensure their security

Is the blockchain mining platform legal. When handling legitimate business operations for digital currencies such as Bitcoin, the following requirements should be followed: firstly, the platform must comply with relevant security technology standards; 2、 To establish and improve corresponding legal responsibilities and rules and regulations; 3、 Mining equipment should be maintained by professional production enterprises themselves and shall not be illegally engaged in the development of computer systems and online games.

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