Before you start mining cryptocurrency, you should prepare something for it. When everything is ready, mining becomes fairly easy because everything happens automatically. All that remains is to pay the electricity bill at the end of each month.
Cryptocurrency wallet
This password protected container stores all your revenue while retaining your transaction ledger.
Mining software
It helps you perform the mining process, usually consisting of cgminer and stratum.
Member of Online Cryptocurrency Exchange
It is composed of miners' communities, which promotes the exchange of virtual currency and traditional currency, thus improving profitability and income stability.
Fast and reliable Internet connection
In case of bad network, any cryptocurrency mining will not succeed. In addition, the network must be secure and reliable.
Location of hardware facilities
There should be a cool environment where the hardware can be placed where it will not overheat, because the mining process will generate more heat.
Customized computer
You will not be able to use your PC for mining purposes. For this purpose, there should be a dedicated PC. Laptops and mobile phones are not recommended because they simply do not have enough power to generate any revenue.
ATI graphics processing unit or ASIC chip
GPU or ASIC will become the main force in providing computing services and mining.
About cryptocurrency mining hardware
Different types of cryptocurrencies may require different types of hardware to get the best mining results. For example, hardware (such as ASIC, representing application specific integrated circuits) has been customized to optimize cryptocurrencies such as Bitcoin. Compared with the mining site, the mining speed of GPU is slow. For example, if you decide to use GPU to mine Bitcoin, you may have to wait several years to mine a Bitcoin! You can find GPUs in any store that sells computer hardware.
As mining became more and more difficult, crafty coders began to use video cards because they provided more hash capabilities. They wrote mining software optimized for the processing power of GPU to mine faster than the central processing unit (CPU).
These graphics cards are faster, but they still consume more power and generate a lot of heat. At that time, the miners decided to use something called application specific integrated circuit or ASIC. ASIC technology makes Bitcoin mining faster and uses less power.
About Cryptocurrency Ore Pool
The pit definitely brings the miners together. In short, an ore pool is a place where ordinary miners who cannot access large mines gather to share resources. When you join the pit, you can find solutions faster than solving mathematical problems alone. You will be rewarded in proportion to the amount of work you provide.
Pools are cool because they smooth out rewards and make them more predictable. There is no mining pool. Only when you find a block yourself can you get mining rewards. This is why I do not recommend mining separately. It is unlikely that the hash rate of your hardware is close enough to find a block on your own.
About Freeboard Mining
Freeboard International Group was established in 2011, pursuing industry innovation and field expansion. As a company with four major module businesses, namely, new energy, blockchain and AI, consumer electronics, and financial real estate, its entrepreneurial spirit, practical work, and constant thinking have always inspired global innovators and helped them forge ahead toward unimaginable goals. Its customers cover many countries and regions around the world. The company has subsidiaries in Hong Kong, the United States, Shenzhen, Guangzhou and other places.
Its covered businesses are supported by multi-channel venture capital and are planned to be listed on NASDAQ in the next three years. Partners include Comemso, Nvidia Nvidia, Bitmain, Goldshell, etc. Consumer electronics customers served include Apple, Foxconn and Huawei; New energy customers include BMW, Volkswagen, SAIC and ABB; Scientific research institutes include: Tsinghua University, Harbin Institute of Technology, Chinese Academy of Sciences, China Spallation Neutron Source, etc; Blockchain customers are located in more than 100 countries in North America, Europe and South America.
