📌 The most frequently asked questions in the mining industry

⛏ What is bitcoin mining?

Mining is the process of creating new blocks in blockchain structures to make cryptocurrency platforms work. Cryptocurrency is earned through the power of the mining equipment.

⛏ Is mining a waste of energy?

It is part of the process and can be compared to the transaction costs of other payment systems. Banks and credit institutions also require a huge amount of energy to keep them running, but we can only calculate the exact consumption in the case of cryptocurrencies.

⛏ Does mining improve network security?

Yes, because the process is built in such a way that even big players cannot consecutively prescribe several blocks in the network.

⛏ What does it take to start mining?

Drawing up your own strategy, estimating your starting capital, finding a site to place your equipment. Today, the process of starting to mine requires a lot of calculations and studying the news: the rate of cryptocurrency, as well as mining equipment, changes quite often. And the miner's earnings directly depend on it.

It is also recommended to consult with specialists and experts to enter the sphere as smoothly as possible.

⛏ What do the following terms mean: MH/s, GH/s?

These values describe the computing power of your equipment. Denoted in the number of computed hash function per second and it is on this figure that your profit will depend.