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With the onslaught of new participants in the cryptocurrency world and increased market cap came a large increase in the number of transactions, up approximately 220% year-over-year in average daily cryptocurrency transactions in Q4 2017 alone. The greater the volume of cryptocurrency transactions, the greater the need for mining. Mining is a very important function for the blockchain network as it enables trustless decentralized record-keeping. Cryptocurrency mining, or cryptomining, is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. In order to be competitive with other cryptominers, though, a cryptocurrency miner needs a computer with specialized hardware.


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