Teknologi.id - Cryptocurrency remains one of the most controversial types of income. Those who learn more about the industry benefit tremendously and raise their income levels.
At the same time, to succeed in this business it is necessary to learn all the processes and figure out what currency is better to invest in. Mining is now also a popular process.
Production itself is not new, but at such a rate of development and demand it is gaining in the last few years. Because of the constant growth in popularity, there is also a need for new and powerful devices on which it will be faster and more efficient to mine. Hardware is the most important factor.
Do you know something about antminer s9 profitability? Or are you looking at options for a graphics processor? Let's understand what kind of hardware is available and which of them is more efficient for mining.
How Does Cryptocurrency Mining Work?
Mining is the extraction of digital coins on a computer by searching for a certain number among a huge mass of information with certain predetermined parameters. Here we are not talking about abstract things, but about confirming transactions of funds in the center of the system. These tasks are formed into blocks. Decoding information in a block is done by a matching method. This is why the system needs such gigantic computing power.
The process itself works as follows: the network forms a block with built-in cryptographic protection, functioning without a single settlement center or controlling institution. The backbone of the network is an infrastructure of thousands of independent nodes, which collect and store registers of all transactions in a special way. Information in one of them can be changed only with subsequent synchronization with all the others. The record of each transaction is necessarily confirmed by a globally distributed network. In this system, everything is interconnected and transparent. Plus, the system is designed in such a way that the tasks to be processed are constantly becoming more complex as the capacity on which the mining takes place grows.
3 Types of Hardware Used in Cryptocurrency Mining
The equipment depends on the type of mining, your preferences in work and the cryptocurrency being produced. So let's take a look at the main options.
1. Application Specific Integrated Circuit (ASIC) Mining
An ASIC is a device that performs only one cryptocurrency mining task. Because it focuses on only one task, its power is much higher than regular processors. Therefore, an ASIC is capable of mining more coins.
ASICs can cost more than other mining equipment, such as a video card or processor, but have some advantages. These are high hash rate, easy to set up, and high mining efficiency.
When you're choosing ASICs for mining, it's important to evaluate each of the devices on the following parameters:
- power consumption,
- energy efficiency.
The best models to date are Antminer S9, Antminer S19, Antminer T19, Whatsminer M31S, Whatsminer M30S.
2. Graphics Processing Unit (GPU) Mining
To solve the task of mining on the CPU you need to take a few basic steps. First, you should choose a powerful CPU, select an optimal motherboard, the necessary fast RAM, connect the hard drive, power supply, monitor. The next step is to load a wallet for the selected cryptocurrency. Having the address of the wallet, you pick the program - altcoin miner and create the file launching mining, specifying the parameters of the crypto, wallet, complexity, algorithm, etc.
The best models to date Zotac Gaming GeForce RTX 3090, MSI Gaming GeForce RTX 3090, ASUS ROG Strix AMD Radeon RX 5700 XT.
3. Field-Programmable Gate Arrays (FPGA)
An FPGA is a piece of hardware that is very similar to an ASIC with one exception. An ASIC is a chip that has been configured to perform one type of computation. An FPGA is a chip that can be reprogrammed to perform any type of operation.
There is one main reason why FPGAs for mining are only now being used massively. It is because of the flexibility and architecture of FPGA boards, they are not easy to customize. They can be programmed to do anything. This is a good thing, although it also means that to use an FPGA board you have to know how to program it. Since only some programmers are able to do this, it will take time for them to do the work. These programmers would then have to make a business model for selling the programs to the public and so on.
One of the best models to date is the AtomMiner AM01.
The Bottom Line
Once you start mining, you will have to be constantly interested in daily trends and new developments. If mining is your passive income and you don't leave your main job, be prepared to devote all your free time to the process. The main rule of mining is to choose the best and most efficient hardware and currency to mine. Keep all the details in mind and choose the best equipment that makes mining fun. Always be rational and don't get caught up in the gold rush so that your favorite activity doesn't turn into mining for mining's sake.