[Global Scientific Report] According to foreign media reports on February 7, 2017, the United States Federal Council (FTC) recently stated that Vizio, a US television brand acquired by LeTV, used 11 million televisions to monitor its users. “When a company pulls a stool, sits next to you and begins to take notes seriously about everything you care about (after sharing these notes with other partners) it should first ask if you would like to.†Kevin McCarthy, an attorney in the FTC's privacy and personal information protection department, wrote in his blog: "Vizio did not do this, so the FTC participated in the investigation of this incident." Because the FTC and the New Jersey Attorney General's Office accused Rui Xuan of secretly collecting and selling customer location, demographic data, and viewing habits, the TV manufacturer agreed to pay US$2.2 million (US$3 million) for these agencies to handle the case. With the advent of “smart†household appliances, customers and consumers began to worry whether the appliances they bought would give manufacturers feedback about sensitive consumer information. According to the FTC, Vizio's case showed that the company was able to obtain information because of a problem with television or other electrical appliances, rather than the owner's willingness to share this information. (Internship Compilation: Chen Wei reviewer: Li Zongze) Mining is the process of creating a block of transactions to be added to the Ethereum blockchain in Ethereum's now-deprecated proof-of-work architecture.
Mining is the lifeblood of any proof-of-work blockchain. Ethereum miners - computers running software - used their time and computation power to process transactions and produce blocks prior to the transition to proof-of-stake.
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The word mining originates in the context of the gold analogy for cryptocurrencies. Gold or precious metals are scarce, so are digital tokens, and the only way to increase the total volume in a proof-of-work system is through mining. In proof-of-work Ethereum, the only mode of issuance was via mining. Unlike gold or precious metals however, Ethereum mining was also the way to secure the network by creating, verifying, publishing and propagating blocks in the blockchain.
Mining ether = Securing the Network