Mining means that devices with special software and hardware solve complex problems, approve cryptocurrency transfer transactions, and as a result, are rewarded with newly produced cryptocurrency. Theoretically, anyone with a computer and internet can do it.
Transfers between wallets are transferred to a dec pool (mempool) before being approved in most blockchains. Then these operations are decoupled together to form a block. These blocks are written to the blockchain after they are verified and validated by devices connected to the network.
Cryptocurrency miners verify, confirm transfer transactions and keep a copy of the blockchain.
There are many methods of mining cryptocurrency today. It is possible to distinguish these methods in terms of profit, cost, difficulty and transportation. GPU, CPU, ASIC and Cloud. Let’s look at the most popular of them, namely GPU graphics dec mining.
The processors of the video cards of computers are called GPUs. GPU mining is a type of mining in which operations are verified by calculating the processors of video cards. The processors of graphics cards are much more powerful and compute-oriented than the processors of computers. For this reason, graphics cards are used to verify the transactions of cryptoparks based on proof-of-work mining such as Ethereum.
Video cards are also very affordable compared to ASIC devices. Also, miners use devices that are formed by decoupling multiple video cards, called “Rigs”, combining several video cards into one.
It is the name given to the mining done with the processor in our computers. In this type of mining, the mathematical equations used for transfers are solved by the CPU. In its early days, it was possible to mine Bitcoin with processors, but the increasing popularity and the increase in the number of miners over time increased the total transaction speed of the Bitcoin network, increasing the difficulty level considerably. Some of the cryptocurrencies that emerged after Bitcoin are still mined by CPU mining.