Difference between revisions of "Mining"
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| − | [[Mining]] is basically transaction verification. When a block of transactions has been validated, the person | + | [[Mining]] is basically transaction verification. When a block of transactions has been validated, the person who successfully solves the problem first receives a reward such as a [[bitcoin]]. |
In early days, any computer could be used for mining, but the algorithm is designed to get harder and harder as more people get on the [[Blockchain]] so normal computers are now very inefficient at mining. Over time, people found that using computers with [[GPU]]s worked well and now the most efficient miners use [[Custom Mining Computers]]. | In early days, any computer could be used for mining, but the algorithm is designed to get harder and harder as more people get on the [[Blockchain]] so normal computers are now very inefficient at mining. Over time, people found that using computers with [[GPU]]s worked well and now the most efficient miners use [[Custom Mining Computers]]. | ||
Revision as of 00:45, 24 December 2017
Mining is basically transaction verification. When a block of transactions has been validated, the person who successfully solves the problem first receives a reward such as a bitcoin.
In early days, any computer could be used for mining, but the algorithm is designed to get harder and harder as more people get on the Blockchain so normal computers are now very inefficient at mining. Over time, people found that using computers with GPUs worked well and now the most efficient miners use Custom Mining Computers.
