Cryptocurrencies and the blockchain technology were innovated to support a decentralized economic model where no single entity, or a small group of entities, can control the currency supply, transactions, or the overall security of the network.
Cryptocurrency networks were meant to allow anyone to host a node and support the security of the ecosystem by using the same PC that they use every day. Interestingly enough, in 2012, one could mine 100 BTCs in a few days with just a Pentium 4 PC. However, with skyrocketing network difficulties and the advent of advanced ASIC miners, using a home PC for altcoin mining today will just earn you a few cents a day. You may not be able to mine bitcoin (BTC) at all.
These changes have led to the emergence of a new term: mining centralization. This term describes the situation in which a few entities control the majority of the hash power of blockchain networks. These entities have mining farms that are made up of hundreds (or thousands) of advanced ASIC mining equipment. Mining centralization has also been affected by the centralization of the manufacturing of ASIC mining equipment. It is inarguable that Bitmain produces the majority of ASIC mining hardware which produce most of the hash power on BTC's, BCH's, and many other coins' blockchains.
Centralization of hash power:
Concentration of hash power in the hands of a few big entities sabotages the founding cryptocurrency concept of decentralization. Moreover, if a single entity or a group of miners can control more than 50% of the network's hash rate (51% attack), the results can be disastrous. If a 51% attack takes place on Bitcoin's network, for example, the attackers can block confirmation of transactions, rendering some (or all) users unable to execute transactions. They can also execute "double spending attacks” where they reverse transactions that were executed successfully while they were controlling more than 50% of the hash power of the network.
Even though it is difficult to pull off a 51% attack on a blockchain, it is still a possibility that undermines the whole economic model presented by the blockchain technology.
WinMiner supports decentralization of the mining process:
Deciding to start mining cryptocurrency can be daunting if you have no technical background or have recently been introduced to cryptocurrencies. WinMiner addresses this challenge by offering users a simple piece of software that they can install on their PC. Even beginners can start mining crypto with just a single click.
WinMiner's main goal is to prevent the mining process from moving into a centralized model. When everyone can use their idle PC to mine crypto, not only can they make some money online, but they will promote the security of blockchain networks and facilitate the process of transaction verification as well. There are billions of PCs around the world that can help support the decentralized model of the blockchain-based economy, and WinMiner is obliged to make this happen.
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