Blockchain Mining with Trusted Devices

Glossary

Term DefinitionsMSP (Mobile Service Provider)An entity (e.g., a company) that participates in a blockchain network and may provide blockchain mining devices. BlockchainA continuously growing list of records ("blocks") that are linked together using cryptography. MiningThe process of validating blockchain transactions and adding them to the blockchain. Trusted DeviceA device that provides certain assurances (e.g., computing power, authenticity). Computing PowerThe speed at which a device performs calculations. TransactionThe transfer of value that occurs on a blockchain network. BlockA blockchain record containing a set of transactions. Candidate BlockA block that contains transactions but has not yet been added to the blockchain. HashingThe process of converting data of arbitrary length into data of fixed length. MinerA node that validates transactions and creates a new block. Reward/FeeThe incentive received by a miner who successfully mines a block. Quiz Questions

What role do trusted devices play in blockchain mining?

How can MSPs leverage trusted devices to enhance the security of blockchain networks?

What examples of trusted devices are mentioned in the text?

What does "charge cycle" mean in the context of blockchain mining?

What role does OSS play in a trusted device-based blockchain mining system?

What is the difference between a "candidate block" and a "confirmed block"?

How do miners "win" blockchain rewards?

What does "forking" mean in the context of blockchain?

What types of blockchains are described in the article?

How does blockchain mining based on trusted devices improve the scalability of blockchain networks?

Answer

Trusted devices are devices that can provide a certain level of trust assurance, such as mobile phones, SIM cards, etc. In blockchain mining, trusted devices can use their computing power to verify transactions and add these transactions to the blockchain, thereby participating in the blockchain's consensus mechanism.

MSPs can use the identity information of trusted devices (such as IMEI, IMSI, etc.) to verify the authenticity of the device and prevent malicious actors from manipulating the mining process. In addition, the computing power of trusted devices can be used to verify transactions and ensure that only legitimate transactions can be added to the blockchain.

Examples of trusted devices mentioned in the article include: mobile phones, SIM cards, devices with integrated circuit card identification (ICCID), devices with international mobile equipment identity (IMEI), and devices with mobile station international subscriber identity (IMSI).

In the context of blockchain mining, a "charging cycle" refers to the period of time during which a trusted device is connected to the network and participates in mining.

OSS is a software platform that supports trusted devices to participate in blockchain mining. It is responsible for managing trusted devices, distributing mining tasks, collecting mining results, and distributing rewards according to pre-set rules.

A "candidate block" refers to a block that contains pending transactions but has not yet been added to the blockchain. A "confirmed block" refers to a block that has been verified and added to the blockchain.

Miners "win" blockchain rewards by solving complex mathematical problems. The first miner to solve the problem has the right to add the new block to the blockchain and receive the corresponding reward.

In the context of blockchain, "fork" refers to the emergence of two or more chains with different transaction histories in the blockchain network. This is usually caused by multiple miners solving the mathematical problem of a block at the same time.

Two types of blockchains are described in the article: public chains and private chains. Public chains are open to everyone, while private chains are controlled by a centralized organization.

Blockchain mining based on trusted devices can improve the scalability of blockchain networks because it allows more devices to participate in the mining process, thereby increasing the overall computing power and transaction processing speed of the network.