🔟Element Five:BIT

Bit is the name given to cryptocurrencies such as Bitcoin

Bit is the smallest unit of computer data storage, 0 or 1 is 1 bit. Bit is the name behind cryptocurrencies such as Bitcoin and is a core element of digital technology.

The calculation core of POW mining is the calculation of the target difficulty of BIT bits. The smaller the Bits value, the higher the difficulty, and the greater the computing power required, reflecting the cost of PoW.