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What is CryptoCurrency Mining?

How do I get started?

How profitable is it?

Ethereum Mining Profitablility

Earn Up To $546 Per Month

 

90 Day Average – Based on 140 mh/s Mining Rig

January 31st 201:      $15.54 per day / $466.30 per Month

October 30th 2017:  $8.12 per day / $243.60 per month

July 30th 2017:          $18.20 per day / $546 per month

April 30th 2017:         $8.96 per day / $268.80 per month

 

 

 

What is Mining?

 

  • Mining is a computationally intensive process carried out on a blockchain to verify a transaction record.
  • Peer to Peer distributed network of computers called “miners”
  • New transactions are broadcast to all nodes (memory pool) and gathered into new blocks
  • Miners compete to add a new block onto the Blockchain
  • This involves solving a mathematical algorithm by trial and error called hashing (Bitcoin uses SHA256)
  • The miner that guesses the correct answer (nonce number) creates a new block on the blockchain ledger
  • Every block contains a “block reward” of new coins/txn fees
  • This process is called “Proof of Work

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