Mining rigs are the machines used to extract cryptocurrency tokens from the blockchain. In order to build a mining rig, you will need some specialized hardware and software. The first step is to choose your hardware. For mining bitcoin, you will need specialized hardware called ASICs (Application-Specific Integrated Circuits). ASICs are designed specifically for bitcoin […]
What Equipment Is Needed To Mine Bitcoin
Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block […]
Read Time:
16 Min
0
What Is Bitcoin Hash Rate
Bitcoin miners are responsible for verifying and putting into circulation all Bitcoin transactions. In order to do this, they use specialized software to solve complex mathematical problems, called hashes. The hash rate is the measure of how many of these problems a miner can solve in a given period of time. The higher the hash […]
Read Time:
15 Min
0
How Many Hashes Per Bitcoin
Bitcoin mining is the process by which new Bitcoin is created. Miners are rewarded with transaction fees and new Bitcoin for their work. As Bitcoin mining has become more competitive, the rewards for miners have decreased. The number of hashes that a miner can generate per second is called their hash rate. The more hashes […]
Read Time:
17 Min
0
0