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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:Â Â Â $15.54 per day / $466.30 per Month
October 30th 2017:Â $8.12 per day / $243.60 per month
July 30th 2017:Â Â Â Â Â $18.20 per day / $546 per month
April 30th 2017:Â Â Â Â Â $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