What is Mining cryptocurrency is now the new race of this modern era. Now everywhere around is all about the noise of BitCoin, Ethereum, ZCash and many more. New currencies are getting into light day by day. New algorithms are coming into markets with advanced refinements and by working on loopholes. So what this race is all about who is the master player? Who and how one can run in this race.
Functions of Mining
So mining cryptocurrency includes major functions as adding transactions to the blockchain and having eye on new currencies. So every miner contribute in this domain by solving a block of puzzle which has scattered data in it. The minner arranged and perform mathematical and logical computations. In this domain every block mined by a miner contains a proof of work (POW).
Mining need a specific machine that can performs calculations on binary data and also an algorithms who will be responsible for solving complicated mathematical problems. So miners would attempt to solve a block which have unstructured data using cryptographic hash functions. The hash power is totally dependent on mining machine. The more hash power the more blocks will be mined and more reward will be generated. So several people and enterprises have started investing in warehouses and hardware.
A complete mining kit consists of all components like graphic cards and other stuff would cost between $2,400 and $4000.
To know what is CPU and GPU mining click in the the link below