Cryptocurrency mining is popular as soon as the price shoots up it seems like everyone wants to start mining coins. However this is most likely the worst time to start mining as competition is high which means your rewards are lower.
In this post I am going to go over 3 types of cryptocurrency mining CPU, GPU and Staking.
Some coins such as Aeon are CPU intensive coins which means no GPU or ACIS can be used to mine them. The goal of this is to provide a more even playing field for everyone world wide. If you have a computer well then it has a CPU (Central Processing Unit) Which would be Intel or AMD.
This CPU is then used to mine this coin allowing anyone with a computer to mine for this coin on a more even playing field. However of course that wont stop someone from building a super computer with a bunch of CPUs in it.
At the moment Aeon currently trades at the following. 7-15-2017 at 2:34 EST
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Most coins can be mined on GPU which uses the shaders to do massive calculations. While a Intel i7 processor with 12 threads will hash at about 300 H/s a GPU such as r9 290x or Nvida 1080 will hash at about 600-900 Kh/s
A popular coin mined this way would be litecoin which as of 7-15-2017 2:42 pm EST trades at the following.
Staking is a form of mining where you hold coins and based on the percent you hold of the total coins in circulation and age of those coins provides you with a steady stream of new coins. This allows for a more decentralized and less power hungry system to produce coins and provide fast transactions.
The only downsides of staking are always having to run your wallet and the low earnings to possible no earning if you only hold a small amount of the coin.
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