AlanWeb's blog

The implementation of computational tasks can be reproduced by means of two devices:

Video cards (GPUs, graphics processing units).

For the Ethereum network, some miners create self-budgeted video card installations. Such installations can also achieve the desired hash rate.

Specialized ASIC device.

ASIC (application-specific integrated) is a small compact unit whose only task is to earn cryptocurrencies. This device is considered to be the most profitable in this area. The standard models are made in the form of a chip, which can not be re-flashed and has a high performance. A quality ASIC must be complete with chip-based processors, coolers and power supplies. When choosing an ASIC miner one pays attention to the hash rate efficiency, the amount of power consumption and the payback period. In addition we do not forget about the special software equipment, which is needed for mining such as cfx mining. 

What is a pool and why do I need one?

In the initial stages of mining, it is difficult for beginners to get involved in the process. Beginner miners don't always have the right kind of good-quality collateral. 

Therefore, those who are just joining a number of miners are recommended to join cloud pools. A mining pool is a server where miners and their devices come together. By combining their efforts, the miners decrypt the necessary hash code faster than a miner who works solo.

For miners who create pools there are also advantages. Pool owners become real businessmen who earn from the work of others. Pool organizers charge a commission on the coins earned by pool miners.

 On average, the commission ranges from 0.3-2%. Often, in addition to the official commission, pool owners fraudulently underestimate the amount of processing power consumed by an ordinary miner. Therefore, the main disadvantage of mining pools is the possibility of manipulation of miners' actions by the pool organizer.