Cryptocurrency seemed to take a jump this year to a new level of internet hype. Bitcoin hit $60,000 and Elon Musk’s tweeting about Dogecoin made millionaires out of memelords. Alongside this new wave of interest there has been a heightened interest in mining crypto-currency.
Mining cryptocurrency industry is the process of building the blockchain – slowly adding data as users make transactions on the network. It involves solving math problems called hashing and is how crypto-currencies process transactions- this requires an outrageous amount of computing power and is the reason Bitcoin and other cryptocurrencies need so much power. Satoshi Nakamoto, the creator of Bitcoin incentivized people to maintain Bitcoin’s blockchain by rewarding them with newly-minted Bitcoin.
