Mining encrypted currency can be very profitable if the computing power of the mining device is very high, too mining the encrypted currency can be costly. Encoded currency mining Recently we hear many positive and negative news from many quarters. Many people earn $ 1 million from mining and others lost their computers for misunderstanding the mining of encrypted currencies, because they are downloading Blokshin the encrypted currency on their weak computers that will race with giant computers dedicated exclusively to coin mining.
How is encrypted currency mining?
I will simplify you, for example you will add Bitquin on a computer dedicated to simple services. First, the Plucheen program should download the entire currency, which is currently over hundreds of gigabytes, to make a copy of it (the decentralized nature of the blockage). After that, the race will be with mining computers in the network (Genesis Mining). So your computer will race with Genesis Mining as an example. One in the Bitquin mining network, to solve the problem, here your computer will execute the software command in the blockachinen, which requires high computer power, and electricity, (the computer is not human, when it senses that its energy has reached the maximum will expect to rest, Giant even the last force in him, and in the end The computer will reach its maximum and will be damaged because the difficulty of mining is very large, especially those capable of mining Betcquin, only the owners of large computers such as that at Genesis Mining.
What was mentioned in the preceding paragraphs is only a prelude to understanding what we will address in this subject (Crypto Arab).
First, what is the encrypted currency?
To understand the subject of encrypted currency mining, we need to know and understand what the currency is originally encrypted. The originally encrypted currency is a non-physical digital currency based on cryptography for secure transactions. Currently there are hundreds of different encrypted and different value currencies. Many experts believe it is the future of the currency.
The most popular encoded currency currently is the currency of piquin, followed by etherium, and other currencies that are rapidly developing: Claptecwyn Cash, Letquin, Dash ... all of them are coded currencies whose algorithms differ, but all depend on a protocol called the buccaneer, defined by the following important lines.
What is the buxine?
Blockxin is a digital document or bank account for transactions that are impossible to change or falsify due to its decentralized nature (hundreds of gigabytes distributed worldwide in metal computers, if anything has changed in that data, all metals must agree). The system is based on Hashing by literal translation. In a similar concept, a simplified set of connected blocks complement each other continuously to form a blockbuster.
Hashing or Retailing is a mapping function for lines of data of different lengths to produce a final fixed length. The most popular fragmentation algorithm is SHA-256. Which has a solution to mathematical problems in one direction, note the name of the function one way function, which means that you can never return from the Hash output and extraction of the original data, and theoretically can not find different data have the same Hash .. Finally any change, even one bit in the portal Will produce a completely different product from the above. Each retail value is the only one that can not be replicated, or has a copy (this can not falsify transactions in the pluchen). Because even the smallest change in the fragmented data caused the entire value to change. This is how the blockage works. It relies on Hashing to analyze and validate transactions. That is, when a data transfer of value or anything on the blockin is entered, it is encrypted in the block, and the computing power decomposes and decodes those data with the standards and data of those buccaneers, and anything or data that is questionable or not belonging to those blockers (conversions or illegal transactions) ) The block is rejected, and the final decomposition is not produced. (Upcoming theme is about Hashing or Retailing).
BlockCin and encrypted currency
Now to collect the Blocchin and the encrypted currency and explain them together in this paragraph. Encrypted currency is the engine of the blockin. There is no blockbuster without a coded coin. To have a pluchen, it must be a network of metals, and that network is rewarded with the encoded currency of that blockin. Each of the two metals in the network signifies the reliability of the transactions via the power of its computer to decode the block. When the computer decodes the cluster and makes sure that the transactions are legitimate via Hashing or Retail, the metal is equivalent to the encrypted currency.
Now what is encrypted currency mining?
In the previous paragraph, we almost answered the question by 50%, and in this paragraph we will go a little deeper in the explanation. Encrypted currency mining can be understood with very complex mathematical calculations to find the correct value to satisfy the division function in Blockin (to solve the block problem that contains many transactions in the encrypted currency). Complex mathematical calculations Any complex computer is rewarded with a number of predetermined coins in the blockin on the computing power that contributed to mining. After solving the complexity, the value is sent to the complex computer portfolio. Often people gather their computing power together in a pool and the bonus is split if the mass problem of the mass is resolved.
Many experts in the field and the big metals say that the solution to the correct value or the mathematical problem, such as win in Lotto, because the solution offers a lot of money. There are countless computers with varying forces trying to find the solution to the value or the mathematical problem, and whoever finds the solution, the reward is his share.
When you hear the mining of the coded currency, 100% is the attempt to calculate the value of the tick (mathematical problem) specified in the block based on what was traded in the blockin. The result of the mathematical solution is that the transactions apply to what was traded in the blockin from the beginning until the last block was solved. This requires considerable computing power in line with the volume of transactions in the pluche, but given the rewards, it deserves that power.
