Mining cryptocurrencies. Basics.


  The crypto industry, all the huge opportunities and potentials that it can give, security - all this is good. But many young enthusiasts think how you can make money without investing a lot of their financial resources. Still impressed by the mining of some coins, which have risen in price at 10,000% and brought huge profits to their small miners.
  But this time has passed and now you need to pay attention to those coins (companies) that really work, develop their project, offer good and thoughtful opportunities and tools. But more on that is a little bit lower.

  Mining is one of the types of profit-making in the crypto economy. Mining is essentially providing its capacity (or coins) to ensure that the transaction is processed and completed. By ensuring the decentralization of the system itself, the speed of processing, its security and profit to the participants of the chain.


There are several main types of mining.

  Proof of Work(PoW) this type of mining requires considerable computing power - it requires calculating complex mathematical problems.

Features of this type of mining:

  • Purchase of expensive equipment to start mining. On a small scale, this mining is not profitable.
  • The increasing complexity of transactions being processed.
  • High electricity costs.
  • Having a separate room with good ventilation or a cooling system.
    As you can see, this type of mining is not so relevant today.

Proof of Stake (PoS). To begin with, this mining does not need to be a technically literate specialist. Consensus works on a completely different principle. Cryptocurrency holders are responsible for checking transactions.
Features of this type of mining:

  • You don't need to buy expensive equipment
  • Large coin holders make big profits and have a significant impact in ecosystems.
  • High investment to buy coins to start mining.
  • Often, there is a lack of an intuitive and simple single interface for the easy start of PoS mining.


    .jfif)

  And now we can tell about the most new and promising form of mining, which is not yet advertised by other miners, because of it the purchase and maintenance of various mining servers and farms will be an unjustified step.


LPoS - the user provides something for rent. This is a more modern version of PoS. The consensus process comes from confirming transactions when working full- masternod. These workshops contain coins of users of the network and the same balance is provided for rent.

Benefits of LPoS:

  • You don't need to buy expensive equipment.
  • You don't need a lot of electricity.
  • You don't need a large number of coins to start mining.
  • A single simple interface to get started.
  • The miner's income is part of the transaction fee.

      The EDC Blockchain platform successfully uses this type of mining to operate its eco-system. The single interface of the wallet combines all that is necessary for the most advanced user of the crypto industry. You can make sure here.
    As I noted, it takes quite a bit to start mining.
      Once you sign up, you'll see a box, follow the links on the left and you'll find a way to make a profit with EDC.

  To start mining, it is advisable to buy more than 3000 coins, which is about $12 (to have a higher priority when working a workshop)
  Although to start mining is enough to buy them for 3.5$!
And everything went the process))) the user starts to get his reward completely without any effort.
  EDC Blockchain is a completely new format of communication between users and eco-system. Through the wallet interface, the user can fully manage their coins, work eco-systems, read the news or send funds to his friend. And all this is available in a couple of clicks.

  As can be seen from the article some types of mining are outdated over time and are no longer relevant for earning on them. Now the younger generation does not want to study for a long time and devote time to studying all the intricacies of mining, workshop and mining farms. They need a quick result. EDC Blockchain can 100% meet their needs. Make sure of this easily, just go to their site.


This article is well complemented by EDC Blockchain- Cryptocurrency Management Center.


Web: https://blockchain.mn/

Telegram: https://t.me/EDCBlockchain

Twitter: https://twitter.com/EDCBlockchain

Wallet Web: https://wallet.blockchain.mn/

Facebook: https://www.facebook.com/EDCBlockchain/

Reddit: https://reddit.com/r/SERO_Official

Discord: https://discordapp.com/invite/3AZVMRU

https://images.golos.io/DQmVz7Uiq7csjiiTyUieFYhmDqh9tVARoTmwFF5LgaEb1Ju/medium-48_46227.png

Medium: https://medium.com/@SERO.CASH

Instagram: https://www.instagram.com/EDC.Blockchain/


Bitcointalk name: rafaelyarulin

Bitcointalk Profile

Telegram


Comments 1