Mining crypto-currencies is an activity that is spreading more and more. While it was a very marginal phenomenon during the launch of Bitcoin, it has now become a business sector in its own right. Mining is a paid service that involves checking transactions or performing calculations to create new copies of the cryptocurrency that is being mined. For this, we must find a code consisting of numbers and letters, which is called a hash, and which generates the next block of the chain of transactions. However, this calculation is too complex to be done by hand and it is therefore necessary to use the computer calculation.

 

Cryptocurrency and mining

However, to limit the speed of creation of new coins, each currency uses the same principle. The more a cryptocurrency is mined, the more complex the calculations for finding the hashes. This meant that the miners had to find new ways of working to keep a good performance. So now, to be able to efficiently mine the most complex crypto-currencies, and therefore those that require the greatest computing power, mining pools have opened.

A mining pool is a community site in which different contributors combine their computing power to be able to mine more efficiently. This makes it possible to find the hashes, which is highly rewarded. However, the gains are also divided according to the size of the contribution of each. In addition, some pools offer to rent computing power, so you can avoid investing in expensive hardware. It will usually be necessary to subscribe to a subscription of twenty euros per month, to which will be added operating costs of about 3 cents per day. Another advantage of this method is that you can use this computing power to undermine the cryptocurrency you want. You can even change it if you find another crypto-currency more profitable.

The most interesting mining pools :

  • Minergate is the most popular mining pool for independent miners.
  • Cryptotia is an exchange platform that also allows cryptocurrency to be mined. Its big advantage is to offer crypto-currencies little known that will be easier to undermine and can represent a great opportunity.
  • Genesis Mining is another pool that allows you to not only mine using your own graphics card but also empower you to rent computing power using the cloud.
  • NiceHash and MiningRigRentals are two mining pools that work in a similar way, as they allow you to rent mining power to mine your own cryptocurrency.

 

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