Cryptocurrency Mining: Beginners Guide

From the first two articles written by Pranav Joshi, we understood the Overview of Cryptocurrency, Analysis of Blockchain and its fundamentals. But when Cryptocurrency mining comes in existence it all becomes complicated. Cryptocurrency Mining occurs at this point of time. Cryptocurrency Mining is the process that  currencies, minted them and introduced into the market. The article is divided into two parts Beginners guide of Cryptocurrency Mining and Understanding of Mining process. Hence, Let us understand Cryptocurrency Mining in detail.

The computer hardware plays a vital role in mining process. The price of Computer hardware boosted in the last four years. As the price increased tremendously, the hardware becomes out of stack easily.

Understanding Graphics Processing Unit

Graphics Processing Unit means an electronic circuit that enables the graphics for display and the different electronic devices. In 1999 the GPU came into existence in the market. GPU acts an interchangeable device with the graphics card.

Since, there was a notable rise in the graphic card prices. The prices rose to a tremendous level from 36,000-40,000 to 1,00,000. But people are unable to buy due to the shortfall of supply.  A question arises in everyone's mind Why the many graphic card prices rose tremendously in a short span and who were the buyers of the same?. The answer to these questions is Cryptocurrency Miners

Why do Cryptocurrency Miners continuously buy graphics cards?

Cryptocurrency Miners is used to validate the cryptocurrency transaction. Bitcoin take the help of public ledger to report   who confirmed cryptocurrency transactions. Therefore, to know how Cryptocurrency Miners validate the  transactions we need to know how does cryptocurrency working takes place?

How does working of Cryptocurrency takes place?

In cryptocurrency,the nodes engages in the blockchain network. It implements a copy of entire blockchain to the network. All the miners

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