How to mine coins ?
Miners keep the blockchain alive and trustworthy. This allows a healthy grows and in return the miners get rewarded for it…
In the beginning of the crypto age a standard PC was enough to mine coins. Nowadays large mining farms and complete Datacenters are used to mine cryptocoins.
Specialized high performance computers create new crypto coins – especially in countries with low energy costs.
Mining CryptoCoins consumes a lot of computional power and electricity. Running Costs are an essential part of the overall costs of the mining process.
Mining parameters that need to be considered
Well known Crypo Coins (BitCoin, LiteCoin etc.) that have gone through a couple of halvings are not so attractive any more to be mined. New Crypto Coins become more and more attractive to miners these days. Miners tend to favor coins with
- Little competition (number of miners)
- Efficient algorithms
- Newly initiated Coins
- High ROI