With the growth in the price of crypto-currencies, many miners have gone into the mining business to try to earn a few crypto-currencies. You don’t want to be one of them. You are also interested in the activity, but don’t really know how it works. Here’s the basics you need to know about mining Bitcoin, Ethereum, and other cryptos.
Undermining cryptography involves the use of computer hardware to verify cryptographic transactions or make calculations to create new tokens. The miner must be able to find a hash – an alphanumeric code – suitable for generating the next block of the crypto block. Computer hardware is used because the calculation to arrive at this alphanumeric code is very complex and cannot be done by hand.
In order to limit the creation of new tokens, the complexity of the calculation required to find the hash increases each time a new hash is found. But since only the miner who finds the hash receives the reward, mining has become very competitive, especially for ultra-popular cryptomoney such as Bitcoin, which forces you to compete with mining behemoths.
Finding a good graphics card for mining
Given the density of competition in the mining market, the only way to guarantee a chance of success is to equip yourself with the best hardware. The more computing power you make available to the network, the higher your remuneration will be.
The key is to find a graphics card with low power consumption, good memory and a good hash rate. A good graphics card should also have a good ventilation system for optimal cooling. It must also have a controlled temperature for safety reasons.
Finding a good crypt mining software
Calculations to find the appropriate hash are not done with ordinary calculators. Apart from the graphics card, which is the hardware component of the mining platform, it is also important to have mining software. This is a powerful software capable of performing an incredible number of complex calculations in record time. You will need to download one, install it, configure it and get started. The software must be :
For those who want to, here are some mining software that pros, and even beginners – in some cases – can use:
Creating mining pools
Because some cryptomoney is currently highly coveted, more and more miners and big companies are moving to mine faster. Since only the first to find the right hash will be paid, the trend now is to create mining pools.
Miners connect their mining equipment remotely to share the difficulty of mining among themselves and go faster. By splitting the problem in this way and tackling it with several people, the chances of finding the right hash are high. The reward, when they manage to find the right hash, is shared among all the miners in the pool.
In other words, you get it. Crypt mining is not a game. If you want to engage in it, you need the best software and hardware that is powerful, affordable and energy-efficient, capable of providing you with the computing power you need for the activity.
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