Simply stated, crypto mining means solving complex mathematical
formulas to create crypto funds, by means of hardware or software.
With mining, everything is documented on the blockchain. Everything
is collected in a ‘block’, which then forms a chain of blocks in
line with each other. You must remember that additions can only be
made behind the block. Past transactions will always remain a part
of the Blockchain and cannot be changed.
Incidentally, not only are the transactions stored, but also
reference to the previous block (the hash): a difficult to crack
mathematical puzzle.
The control over the transactions is usually achieved with what is
called a Proof-of-Work protocol (PoW), a hashing algorithm. Or the
complicated puzzle that must be solved by the miners. Thanks to
PoW, there is agreement about all transactions in the records
(Ledger). The computing power that the computer has provided for
solving the mathematical puzzle and updating and checking the
records is a proof of work. PoW. Thanks to this protocol, you do
not need, for example, an accountant or auditor.
With mining, you thus contribute to the security of cryptocurrency.
That is, however, not the only advantage of crypto mining. As
mentioned earlier in this article, you can also receive a reward
for the use of the computing power of your miner. The biggest
gains, however, can lie in discovering a new block in the
Blockchain. Bitcoin has become very competitive, and therefore a
lot of computing power is needed to earn a little bit. This
therefore costs your miner a great deal of power. With other,
smaller or newer crypto coins (ALTcoins), it can be easier. The
value of this currency may still increase, which means that in the
long run, you can still achieve a nice return.
Our Services
1. Brand New Miners Selling
2. Used Miners Testing and Repairing Services
3. Used Miners Sources
4. Responsive Reply
5. Professional Knowledge in Mining Area
6. Dropshipping service available
Company Information
Boyu Technology is with a energetic and professional team in mining
business for 3 years, including reselling, repairing and hosting.
Our Repairing Department locates in Shenzhen while we also have
mining farms in west of China.
FAQ
1. How can I trust you?
A: We can do Escrow for you as long as you willing to pay the
transaction fee.
2. If my miners dont work, what can I do?
A: All miners will be tested before shipping out. We will teamview
and help you to solve the problem for programing issues. For large
quantity, we will provide back up accesorries, like control board,
hashboard for you to replace right away. More discounts can be
negotiated.
3. Is mining still profitable?
A: Hard to say.
4. What models is the best?
A: It depends. Your electricity cost, your budget, and how you know
the market etc are elements for you to consider.
