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Find out the essentials of cryptocurrency mining
The cryptocurrency phenomenon has sparked a new opportunity mine for virtual gold, kind of like the prospectors of a couple centuries back. This time around, you need some tech know-how to get into the cryptocurrency mining game.
This book shares the insight of two cryptocurrency insiders as they break down the necessary hardware, software, and strategies to mine Bitcoin, Ethereum, Monero, LiteCoin, and Dash. They also provide insight on how to stay ahead of the curve to maximize your return on investment.
Get the tech tools and know-how to start mining
Pick the best cryptocurrency to return your investment
Apply a sound strategy to stay ahead of the game
Find cryptocurrency value at the source
From the basics of cryptocurrency and blockchain to selecting the best currency to mine, this easy-to-access book makes it easy to get started today!
Auteur
Peter Kent is a longtime technology author who also created the online course Crypto Clear: Bitcoin & Cryptocurrency Made Simple. Tyler Bain is a professional engineer who specializes on the electrical grid. He is also a Certified Bitcoin Professional who focuses on system resiliency and mining mechanics.
Texte du rabat
Build a mining rig and join a mining pool Welcome to the 21st century frontier! You no longer need to "go west" to mine for goldvirtual gold, that is. With the booming phenomenon known as cryptocurrency, you can experience the thrill and profitability of mining without getting dirty, and this book shows you how it's done. It explains how cryptocurrency works and how mining functions. You'll learn to choose a profitable cryptocurrency to mine, how to get your mining rig up and running, ways to weather the market, and a whole lot more. Inside...
Résumé
Find out the essentials of cryptocurrency mining
The cryptocurrency phenomenon has sparked a new opportunity mine for virtual gold, kind of like the prospectors of a couple centuries back. This time around, you need some tech know-how to get into the cryptocurrency mining game.
This book shares the insight of two cryptocurrency insiders as they break down the necessary hardware, software, and strategies to mine Bitcoin, Ethereum, Monero, LiteCoin, and Dash. They also provide insight on how to stay ahead of the curve to maximize your return on investment.
Contenu
Introduction 1
About This Book 1
Foolish Assumptions 2
Icons Used in This Book 2
Beyond the Book 3
Where to Go from Here 3
Part 1: Discovering the Basics of Cryptocurrency 5
Chapter 1: Cryptocurrency Explained 7
A Short History of Digital Dollars 7
First, take the Internet 8
Add credit card confusion 8
Add a dash of David Chaum 9
Result? DigiCash, E-Gold, Millicent, Cybercash, and More 9
The Bitcoin whitepaper 10
Bitcoin: The first blockchain app 11
Who (or what) is Satoshi Nakamoto? 11
What's the Blockchain? 12
Blockchain around the world the blockchain network 13
Hashing: Fingerprinting blocks 13
Blockchain is immutable 14
Where's the Money? 16
What's the Crypto in Cryptocurrency? 17
Public Key Encryption Magic 19
Messages to the blockchain 21
Signing messages with the private key 21
The blockchain address your money's home 22
Sending a transaction message 22
Unraveling the message 23
The Basic Components of Cryptocurrency 24
What's in a wallet? 25
Private keys create public keys 25
Public keys create blockchain addresses 25
The private key controls the address 26
Where Does Crypto Come From? The Crypto Mines (Sometimes) 26
Chapter 2: Understanding Cryptocurrency Mining 29
Understanding Decentralized Currencies 29
Exploring the Role of the Crypto Miner 31
Making Cryptocurrency Trustworthy 32
The Byzantine Generals 33
Looking at the Cryptocurrency Miner 35
Making the Crypto World Go 'Round 37
Chapter 3: Building Blocks: The Transaction's Journey to the Blockchain 39
The Cryptocurrency Network 40
Submitting Transactions 43
Looking at transaction fees 44
Change address 45
Verifying the transaction 46
Competing for bitcoin, the ten-minute contest 47
Winning the Bitcoin 49
Chapter 4: Exploring the Different Forms of Mining 51
Proof of Work Algorithms 51
Proof of Work applications 53
Proof of Work examples 54
Upsides 56
Downsides 56
Proof of Stake Algorithms 57
Proof of Stake explained 58
Proof of Stake selections 60
PoS example cryptocurrencies 61
Upsides 61
Downsides 62
Hybrid Proof of Stake/Proof of Work 63
Hybrids explained 63
Hybridized examples 65
Upsides 66
Downsides 66
Delegated Proof of Stake (dPoS) 67
Delegated Byzantine Fault Tolerance (dBFT) 67
Proof of Burn (PoB) 68
And MORE 69
Part 2: The Evolution of Cryptocurrency Mining 71
Chapter 5: The Evolution of Mining 73
Proof of Work Mining Evolution 74
CPU mining 74
Adoption of GPUs 74
Rise of the FPGAs 75
Dominance and efficiency of ASICs 75
The Days of Solo Mining 77
Pool Mining 78
What is a mining pool? 78
Choosing a pool 79
Pros and cons of pool mining 80
Cloud Mining 81
Pool mining versus cloud mining 81
Pros and cons of cloud mining 82
Chapter 6: The Future of Cryptocurrency Mining 83
Incentivization of Energy Exploration 83
Recovery of otherwise wasted resources 84
Continued Computational Efficiency Improvements 85
Doing more with less 86
Approaching the limits of physics 86
Corporate and Nation State Participation 87 <p...