Generally, each ASIC miner is constructed to mine a specific digital currency. Developing and manufacturing ASICs as mining devices is costly and complex. Because ASICs are built especially for mining cryptocurrency, they do the job faster than less powerful computers.
ASIC chips for cryptocurrency mining have become increasingly efficient, with the latest generation operating at around just Instead of being general-purpose integrated circuits—like RAM chips or PC or mobile device microprocessors—ASICs employed in cryptocurrency mining are specific integrated circuits designed solely to mine cryptocurrencies.
After first gaining traction in mid when other hardware mining devices started hitting bottlenecks in their mining, Bitcoin ASIC miners have retained their lead. Bitcoin miners perform complex calculations, known as hashes. Each hash has a chance of yielding bitcoin. The more hashes performed in a set period of time, the more likely a miner will earn bitcoin. ASIC miners are optimized to compute hash functions efficiently. Although mining cryptocurrencies can be an expensive proposition of declining profitability, many people are drawn to it.
Despite the uncertain return on investment, would-be cryptocurrency miners are willing to incur high upfront expenses for pricey ASICs and pay significant ongoing costs for electricity in return for the prospect of earning cryptocurrency. Cryptocurrency mining is required by a proof of work PoW blockchain like Bitcoin to carry out its operations. The mining process involves solving complex mathematical problems using intrinsic hash functions linked to the block that contains the transaction data.
The first miner to find the solution to the puzzle is able to authorize the transaction, or add the bitcoin to the block. Each winner in the bitcoin mining "lottery" receives a reward a certain amount of bitcoin. The reward includes all of the transaction fees for the transactions in that block, which motivates miners to collect as many transactions into a block as possible in order to increase their reward.
In Bitcoin's early days, any computer with adequate processing power could mine bitcoin. But those days are long gone because the soaring popularity and growing acceptance of Bitcoin and other cryptocurrencies have attracted hordes of crypto miners. At the same time, cryptocurrency mining has become exponentially more difficult.
These developments have resulted in a race to harness the most "hash power," which is a term used to describe the combined computational power of a cryptocurrency network or alternately, the power of an individual mining rig. ASIC miners came about as a result of this quest for more hash power. Because each cryptocurrency has its own cryptographic hash algorithm, an ASIC miner is designed to mine using that specific algorithm.
Though this means that an ASIC miner could technically mine any other cryptocurrency that's based on the same algorithm, in reality, most miners who invest in ASIC hardware designed to mine bitcoin or Litecoin stick to mining that specific cryptocurrency. Before investing thousands of dollars in an ASIC mining rig, here are some factors to be considered:.
Many miners join a mining pool to increase their chances of earning bitcoin. Mining pools pay for high-value hashes, known as shares. Mining is the process of managing the blockchain and also creating new bitcoins. The job of bitcoin miners is to review and verify previous bitcoin transactions and then to create a new block so the information can be added to the blockchain. Various bitcoin miners compete intensely with each other to solve a necessary mathematical puzzle.
The first miner to find the solution to the puzzle is able to authorize the transaction or add the bitcoin to the block. ASIC mining machines are developed for the sole purpose of mining a specific cryptocurrency such as Bitcoin or Litecoin. The obvious advantages of GPU mining are that the hardware is significantly cheaper than the equipment required for ASIC mining, and power consumption is lower as well. However, because GPUs have other applications in gaming and computer display, they are much less efficient in mining cryptocurrencies than ASIC miners are.
Mining such cryptocurrencies with ASIC mining equipment is virtually impossible, and even if one tries to do so, the returns would be extremely paltry. Windows 8 x64, Catalyst Windows 7 x64, 75C, Catalyst Windows 7 x64, Catalyst BAMT 1. S41 firmware. Ubuntu Catalyst Windows 7 x64, 68C, Catalyst F62 firmware. Windows 7, 55C, Catalyst Windows 7 x64, 61C, Catalyst Windows 7 x64, 80C, Catalyst Windows 7 x64, 72C, Catalyst Xubuntu Windows 7, 82C, Catalyst Debian 8 Jessie, C, Catalyst Debian 7 Wheezy, 79C, Catalyst
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|Bitcoin mining hardware comparison wiki||Retrieved 14 July Archived PDF from the original on 5 December We believe that crypto will change the world but the first step is to provide the tools and platform to make this incredible technology accessible to a larger audience. As of February [update]the Chinese Government has halted trading of virtual currency, banned initial coin offerings and shut down mining. Moreover, the number of valid private keys is so vast that it is extremely unlikely someone will compute a key-pair that is already in use and has funds. Archived from the original on 8 June|
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Be sure to research any of these vendors and machines intensely before spending any money. Jump to: navigation , search. See also: Non-specialized hardware comparison Below are statistics about the Bitcoin Mining performance of ASIC hardware and only includes specialized equipment that has been shipped. Avalon 6,, No Ethernet? Avalon 7,, Yes Ethernet? Avalon 8,, Yes Ethernet? Avalon 11,, Bulk only Ethernet?
Blue Fury 2, USD value estimated. Retrieved January 30, Butterfly Labs. Retrieved September 2, Retrieved September 25, Retrieved February 7, Avnet Express. Simply put, an ASIC is a microchip that makes the required calculations extremely quickly. More and more miners joined the network, the difficulty rose and you could run your hardware for weeks without being able to find a single block mining solo.
It was a waste of power and money, so miners started to gather into mining pools. MinerGate is one of those mining pools. The miners form a network to combine their computing powers and have a better chance to find a block. The reward is then spread evenly between the participants of the pool depending on the hashes sent. The more powerful hardware you have, the more hashes you will send. The competition is very high, so I strongly advise you to do some research before you start mining any of the coins.
There are lots of forums where miners share the results they get, you can also create a topic on our forum and discuss the possible outcome for your hardware. The producers of ASICs usually mention the potential hashrate on the package. I can also advise you to visit the pages with hardware comparison:. Miners often ask me how to set up Bitcoin or Litecoin mining on our pool. Well, here is the answer. Bitcoin mining is available on MinerGate in a form of cloud mining contract.
You can create a contract on this page. Download a miner that supports Litecoin mining. There are lots of programs available with console or graphic interface. Your final choice depends only on your personal preferences. Connect to MinerGate pool using this address:. The settings may vary depending on the miner, there is no universal recipe here. Your pool login is the email for your MinerGate account. Instead of the password, just enter x. In theory, it all seems relatively simple and clear.
To prove that anyone can do it, I tried it myself in practice. Chrome recognized it as a malicious software, so I went to the advanced settings and disabled protection provided. At first, it was quite difficult for me to get used to command line interface, although I wanted to prove that any newbie can succeed with the right attitude.
I did my research and managed to figure out the settings. The miner I used provides help if you enter — -help , there you can find all the commands available. In my case, the settings looked like this:. I pressed Enter and it worked! It was one small step for Litecoin mining history and one giant leap for me. Or is it? As you can see, I would have made about 20 times more mining the most profitable CryptoNote currency for that moment even if I had seemingly about times less hashrate than mining Litecoin.
What is the trick here? Different algorithms reach very different hashrates on the same hardware. You can try for yourself and share your results with us. Read more about the technology on the official CryptoNote website. Hopefully, I was able to give you a rather comprehensive introduction to Bitcoin and Litecoin mining on MinerGate pool.
It is not that intricate, although still takes some time and energy to get used to. Download our miner to start your journey. We are always happy to share our experience with the new miners, just contact our support team or ask your question in the chat to our support members or moderators. I just got this to work as well. For name e. I enter BTC. This field is only for other CryptoNote coins. Bitcoin and Litecoin are based on different algorithms. I have an account with minergate.
I use a gpu rig on here. I use the address given for BTC and it keep saying network error and the socket goes dead after about ten minutes. I want to put a Spondoolie sp20 to try your site out and then move onto bigger things. Thank you. My email is Walterflack gmail.
Below are statistics about the Bitcoin Mining performance of ASIC hardware and only includes specialized equipment that has been shipped. Non-specialized hardware comparison caused by the introduction of ASICs to the market, GPU mining Bitcoins has become impracticable. Mining hardware comparison is an article shows different hardware devices. ASIC (application-specific integrated) is an integrated circuit specialized for.