Meaning of Crypto-Mining: Decoding of the basic fundamentals.

The money of cryptocurrency is not printed at all, it is discovered, or it is "mined", just like gold. Computers around the world "Mine" or minan for bitcoins competing with each other.

The cryptocurrency market is experiencing exponential growth, turning early investors into millionaires in a matter of months. However, the vast majority of people still do not know the nuances of this industry that is redefining conventional financial markets and banking systems around the world. The cryptocurrency industry likes to use its own terms that discourage people from venturing into it, but the fact is that the underlying principles are much easier than you might expect. Let's start by addressing some basic queries associated with extracting cryptocurrency.

Therefore, "It's time for investors to take a serious look at bitcoin and other digital currencies and see how they might want to include that as a small part of their portfolio." This is affirmed by Adam White (VP, Business Development and Strategy Coinbase).

The following question arises: Where do these crytocurrencies come from? One of the answers would be. In traditional fiat monetary systems, the government decides when to print this paper money and how it is distributed. But in the case of "decentralized cryptocurrencies", there is no central authority. The money from the cryptocurrency is not printed at all, it is discovered, or it is "mined", just like gold. Computers around the world "Minan" for bitcoins competing with each other.

Likewise, what is mining ?. People are sending cryptocurrencies through the network all the time, but unless someone keeps track of all these transactions, no one would be able to keep track of who paid that thing. This is where mining enters the image or mind of people. Mining is a distributed consensus system that is used to confirm hold transactions and then record it in a public ledger called blockchain. Mining is very much like a giant lottery, where your mining hardware competes with others on the net to win cryptocurrencies.

Therefore, faster mining hardware is able to make more attempts at solving a problem, per second to win the lottery or get the reward; In this way, no individual can control what is included in the blockchain or replace parts of the blockchain, to reverse their own expenses. Individuals who perform mining are called miners.

Then, how is the mining done ?. The miners use special software to solve math problems and a number of cryptocurrencies are issued in return. This provides a clever way to issue a currency and also creates an incentive for more people to mine. Because of the reward, more miners are attracted, and as miners are required to approve these transactions, more miners mean a safer net. The network automatically changes the difficulty of the math problem, depending on how quickly it is resolved.

Also important is the question What does it take to be a miner? The first thing you should know about mining is that at present, the power of extraction is processed with your graphics card (GPU). CPU mining has become obsolete in the case of bitcoins. Although there are still some cryptocurrencies like zcash, monero, bytecoin, among others, that can be extracted with CPU, GPUs offer a much faster way to solve the algorithms needed to generate their currencies. GPUs should be your primary goal when designing your platform.

It is important to mention the following. Cost-effective mining of cryptocurrencies that have high hash rates requires specialized mining platforms with high-end hardware systems and cheap electricity.

Now, what is a mining platform ?. A mining equipment is a computer system used for mining bitcoins and other cryptocurrencies and is designed accordingly. The rig could be a dedicated mining equipment that was acquired, built and operated specifically for mining, or could be a computer that fills other needs such as a gaming system and is used to mine only part-time. Mining platforms come in various shapes and sizes.

Then, what are the essential elements for the construction of a mining platform ?. It is necessary to take into account that the construction of its own mining platform must pay attention to these three components:

Graphics card: This is an essential part of your platform and forms the backbone of your coin generation.

Power supply: Your equipment will require adequate power for proper operation. For any project you must take into account one thing, if you have more than 2 cards