Greeting community this is my research contribution today

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Homework Task 4

Cryptocurrency mining works by solving complex mathematical logarisms that through a mining power called H / s we can determine the speed of final results of each mined block

1-How cryptocurrency mining works:

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Cryptocurrency mining works through a community that is linked in turn with a pool or directly on mining platforms, known as nicehash, this platform is responsible for connecting your mining equipment directly into the pool thus making an army of machines capable of solving a mathematical algorithm much easier for the user, giving as a reward fractions of the currency called satoshis which in turn are distributed through mathematical calculations depending on their hash power. It is as if you were mining in real life but with machines that use electricity and internet to generate mining power.

In this sense we see that there are several ways of mining such as

In this sense we see that there are several ways to mine such as

The machines ASic

GPUs (graphics cards) asic machines are machines designed only for cryptocurrency mining using their hash power to mine crypto. Calculating its electrical power for example an asic s9 machine consumes 3250w and produces a mining of 13.5h / s by mining the SHA-256 algorithm

THE GPU

(graphics cards) are used in farms connected in series these cards were designed for players (gamer) when the miner mining user realized that they were very useful for mining in Ethereum they were used to mine this currency and other very popular ones. Their performance lies in Mhz and in the memory technology they have, 4gb graphics cards are no longer widely used to mine ETH, 8gb cards onwards are also used due to low electrical cost and generate less noise than asics.

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Source

2-Mining difficulty

There are many factors that influence the user who is always looking for the advantages so that the work is faster and obtain greater benefits there that take into account the following factors:

1-Electrical consumption:

This is one of the most important when mining any cryptocurrency, since it will depend on this factor whether it is feasible or not to mine that currency, there are machines such as those that consume a lot of electricity and generate very little mining power that sell at a low cost to be used in countries where the cost of electricity is very low or zero, but in turn there are machines with much more power than h/s and the only disadvantage of them is their high commercial cost.

2-Mining power:

Mining power is very crucial for mining, if the mining power is low, we would have to have many machines to generate something that is profitable for the user, so the community creates systems that allow them to mine with low or high power but that will benefit the user. all the modes use a block that every 2016 blocks changes its difficulty this is currently happening every two weeks. When an army of miners is created in a pool this makes life easier for the miner since they generate a block in a certain time and then the loot is divided depending on your power.

3-Mining difficulty:

Every 2016 blocks two weeks the mining power changes for this we must be updating our mining machines or our cards (GPU) to obtain the highest profit.

4-Spaces to mine:

The place has to be properly prepared refrigerated conditioned to place the machines or Gpu this space has to meet certain requirements that are cooling, air inlet and outlet, good properly prepared electrical connections, and a set of additional implements such as anti-noise very important for user comfort.

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3-The challenges for cryptocurrency mining.

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✱Personally, the challenges currently lie in the purchase of highly expensive equipment that generates a large amount of h/s but its investment is recovered after 12 or 13 months due to its high cost and product demand, currently in the manufacturing company do not have available, and that further frustrates the growth of some users who want to get started in cryptocurrency mining.

✱Another difficulty that currently presents with respect to GPUs that are also scarce is that the company has placed a restriction on their software to prevent the mining of crypto currencies, they have not yet been compromised by pirates.

✱Difficulty that prevails in the world of fashion when mining is the great difficulty of creating blocks and the profit decreases drastically which makes it unprofitable for some people to continue mining.

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Note: all articles and photos in this publication are totally free of copyright. by @laser145

Cc: -
@besticofinder
@steemitblog
@steemcurator01
@steemcurator02

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✵Thanr ✵

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