In 2017 cryptocurrencies were finally recognized by the broad masses of the people. Many enterprising Internet users began to make money on this interesting and promising topic. One of the ways to earn money in the world of cryptocurrency is mining through a kind of “leasing” of its own computing power of a personal computer. This is very profitable, because several video cards purchased once, can bring a permanent income completely passive. At the same time, the investor does practically nothing, he simply ensures the efficiency of the mining farm and takes care of the uninterrupted supply of electricity. This is not so difficult, therefore, every lover of easy earnings seeks to create his own mining farm in order to take part in the production of cryptocurrency with thousands of people. Everyone knows that this is very profitable, but few people are interested in the point. So, what is the point of mining?
The thing is that the functioning of any cryptocurrency is provided by means of interaction of hundreds of thousands miners with blockchain, that is the basis of the cryptocurrency system. Blockchain is decentralized, which means that any user can participate in its processing, regardless of where it is located. That’s why mining is so interesting. During the complete processing of one block with transactions, the system generates a certain amount of cryptocurrency. They are distributed among the participants who helped each other to calculate complex mathematical problems. Such a system is made for the financial stimulation of network participants. Mining is built on mutually beneficial cooperation, because the miners are paid money, and the network receives the necessary computing devices. Another way to earn a cryptocurrency is joint mining. For this purpose, special pools are created, accommodating up to several hundred thousand miners with different equipment. They simultaneously perform block processing, thereby increasing the chance to find the right “correct” hash. Pools came to replace solo mining because of their high efficiency. Almost all large data centers have switched to this type of mining.
During money transfers, transaction logs are written to the blocks, which will be processed by all network participants without exception.