Mine Cryptocurrencies Sooner Part 1

By _Achronix Blog

March 6, 2019

Cryptocurrency mining is the process of computing a new cryptocurrency unit based on all the previously found ones. The concept of cryptocurrency is nearly universally recognized by the publicity of the original cryptocurrency, Bitcoin. Cryptocurrencies were supposed to be a broadly democratic currency vehicle not controlled by any one entity, such as banks, governments, or small groups of companies. Much of a cryptocurrency’s acceptance and trustworthiness is based on that proposition. However, with Bitcoin, that is not how it unfolded. Instead, Bitcoin quickly became virtually monopolized by a small number of entities located in an even smaller number of geographies. This outcome is the result of particular properties that govern how Bitcoin mining works:

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