How is Digital Money Created?

Like any other new thing, understanding the concept of crypto currency may be very difficult for the general public. Even with the flood of information regarding the virtual money, there are still answers that may still be unclear. The internet abounds in videos, explanations, articles and websites that present crypto currency - and without any doubt, information is updated daily, from experts or simple virtual money enthusiasts, from all over the world. Without getting too technical concerning these vast and complex domain, we will try to present some of the most important aspects regarding this currency. We will use examples from HydroMiner, a company that uses the power of water to obtain energy at very low costs (and thus, increase profits for users) and promotes renewable energy.

Eight Things Everyone Should Know about Crypto Currency Mining

1. Mining is open source, so anyone can participate in this activity.
2. Without the mining process, the coins (the virtual money) would have little value. Moreover, mining operates as a proof-of-work system.
3. This proof-of-work scheme is based on hard-to-compute but easy-to-verify computational puzzles. By operating in such a manner, the exploitation of mining is limited and kept within safe values.
4. Thus, enormous computing power is needed - the proper equipment for such an operation has high costs, requires proper cooling and consumes a considerable amount of electricity.
5. One of the best ways to increase profits is by finding ways to buy energy at a lower cost - HydroMiner found a very attractive solution: it uses electricity created by hydro power plants. Thus, paying with even 85% less for electricity. Moreover, this leads to a lower carbon footprint.
6. Costs of operating such mining centers may be high, due to ventilation expenses - however, HydroMiner uses the same cold, mountain water to cool the equipment (also, other classic methods are available).
7. By using the hydro power plants in the Alps region, HydroMiner also offers easy access for maintenance operations and does not require much space - it developed an original way of installing the mining operations, by using sea-freight cargos. These are easy to transport, equip or move.
8. Depending on the setup you run, algorithms calculate which are the best crypto currencies to mine for.

Find more information related to this process by taking a look at a business model as created by HydroMiner - it presents all steps, costs and important aspects.

If you want to take part in the HydroMiner crowdfund, you may find this information of use:
25% Discount available only throughout the Pre-sale that is due to be open on Sept. 25. Its minimum buy in will be 50 ETH. Registration for the pre-sale is available only on the official Hydrominer website.
October 9 is the date on which the Initial Coin Offering (ICO) will start. Participation at the ICO requires a minimum purchase of 1 H2O token.

Read more about how HydroMiner helps decrease electricity costs, the H2O token and the features that make this start-up so different by reading the following article available on Medium: https://medium.com/@ecurrencyhodler/hydrominer-3a444cf72d41