Introduction To Mining The Various Crytpo Currrencies  Available Different types of hardware and software available as well basic information on equipment.
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CRYPTONIX Send Crypto News Market Information Wallet We are here to learn more about how miners play a very important role mining coins as well as authorising transactions and placing them on the block chain. This is not a physically carried out however digitally using algorithms and specialised equipment. Crypto Currencies are not created out of thin air, their is a process required to make them available. Similar to how our current monetary system prints money. Anyone can become a miner here.  A miner validates the transactions on the block chain in a number of of ways using their hardware and specialised equipment. They inspect transaction amounts, identities and account details for the transactions passing through, essentially making sure everything is running correctly. Once transactions are verified, miners place details on a list containing all previous transactions keeping a record allowing anyone person access for complete transparency. This list then gets added to a database known as the Block Chain, a public ledger. As more blocks (transactions) are created and placed behind the most recent the  previous records are stored on the block chain for good and cannot be changed making your transactions, balance etc secure yet accessible.       Crypto Currencies are not sent as files as it may appear.  Every public address has a matching private digital key. This keys are basically assigned to certain amount of currency so no actual trade goes on simply verifications. Miners essentially play the role similar to bank tellers: Verifying, Checking etc However this is done automatically via the Hardware and no physical interaction actually takes places  Their are many layers of security and protocols to prevent miners from manipulating transactions. If interested in knowing more please read into this, it is a topic which needs to be covered in depth. Miners have to compete with each other to mine in simple terms. A miners transaction list will become part of the block chain when majority of the community of miners within that coin agree with a) all transactions are valid, no fraudulent behaviour or double spending b) the miner has correctly solved a mathematical problem.  A digital signature operates by using a hash function,. A hash function is a  maths equation which takes any given input to create a random output which will always match the input.       Example of a Hash function used by Bitcoin is SHA25:  Input text - Mining  Output       - 2A6D20857DB7731DF21F791262F8B89D19BE55A4DF5FC45638BC2BD2607EB56D  Keeping in mind the above example, the random string of characters generated will always be the same when the input text it ‘Mining’ Try it for your self, visit a online hash calculator and create you own random string of characters.   With mining when the input signature is the signature of a previous block with a list of unique transactions the string generated will be unique to the data entered, miners use this to verify transactions and also avoid fraud of any kind because the data will not match, the signature will be in correct.  All miners can create new signatures very quickly using previous signatures and current lists with the help of powerful machines to perform these tasks. To decide a winner, the solution string that miners must guess is one which is difficult to generate and will require many attempts.  The unique combination used to create the characters must be figured out by miners. Miners will repeatedly make attempts at filling in the blanks in split seconds using their powerful miners and so miners with higher end technology, faster equipment will make theses guesses much sooner and are more likely of winning.  The right block signature (hash) will then be validated by the other miners as explained above and placed on the block chain. Miners then use this previous digital certificate to solve the new block and so the race starts again.  To prevent blocks being written to slowly as miners increase etc the protocols are adjusted every few weeks accordingly increasing or lowering the difficulty.   Each coin has it’s own algorithm and equations which mean we need different hardware and software are required depending on the coin mined.  They are trying to guess a random number which could be 1 billion x 1 billion so the person with the fastest equipment will have chances of guessing this number sooner. The winner earns the rights to process a list of transactions onto the block chain receiving the value of a coin as payment as well.    This is why we see many investing allot into mining as the equipment required can be substantial. Lets also remember that as mining becomes more competitive the difficulty rises meaning more investment is required.  We also have to take into account electricity costs as factoring everything in effects your overall return.. We are simply trying to cover the basics to improve your understanding.  We hope you find the information here useful, please look into this subject in more depth if interested in knowing more.      Miners used their (CPUs) in the past for mining,  the CPUS used before were not fast enough and could not perform large amount of calculations , Miners had no choice than to move to using GPUs- graphical processing units for their mining operations -as the latter was able to do more hash a lot more than CPUs.  However coins have different requirements, sometimes a GPU might not favour, vice versa. We also have various cloud based mining options available where we rent mining rigs in exchange for a monthly income. Bear in mind the market and prices are not stable which effect mining capabilities.  Cloud mining is considered risky and not reliable. please research prior if interested in using. Many sites claim to offer more then they can deliver      Today, mining with a single GPU is not worth the stress except you build a mining rig. Below is a short list of the best mining GPUs you should consider buying. Used or lower end bought in bulk, Remember, spend less and Profit more. Mining now is not considered  profitable unless building a system on your own, saving on cost. Perhaps building a machine to use for personal reasons and mining. C ALL RIGHTS RESERVED  CRYPTONIX 2018 GPU Graphics Processing Unit  CPU  Central Processing Unit Nvidia GeForce GTX 1070 Nvidia is at it again, Nvidia GTX 1070 is a great graphic card for gaming and mining. This outstanding graphic card can provide a hash rate of about 40mh/s using the right settings with a few tweaks without needing too much power.  The  power  consumption of a GPU should be put into consideration before purchase because the more the power a GPU needs to run, the more expensive it becomes, and this will reduce your profits- remember you have to pay electricity bills!  The 1070 is a little expensive though,  but It is one of the best GPU out there if you are into cryptocurrency mining for the long run.  Nvidia GTX 1080 Ti The Nvidia GTX 1080Ti remains one of the most powerful graphics cards available in 2018. Good for gaming and mining but unfortunately expensive, it also draws more power compared to its competitors i.e. 1070s, this means  that you’ll be getting less returns  and it will take a while to cover the amount you spent purchasing it. However, if you don’t mind spending extra amount of money for such a powerful graphic card, then you’ll be happy with the results,  you only need to do some tweaking to get an hash rate between 40-45 mh/s.   45 million hashes per second. User our miner to get a feel for mining.  Nvidia GTX 1070 Ti The GTX 1070 is another fantastic GPU with lots of power upgrades.  i.e. increased base clock. The 1070 does a very good job, however it is a little bit expensive. This GPU costs more on stores probably because it is a little bit upgraded, unfortunately this will reduce your profits in mining. Another drawback is the power consumption- making it more costly. The Nvidia 1080 is faster than the Nvidia 1070 and performs better mining other altcoins i.e Trezarcoin, unfortunately, it performance mining  ethereum which makes use of the ethash algorithm is not impressive. The Nvidia 1070 outshines the Nvidia 1080 in ethereum mining.  Below are the popular Crypto algorithms and their respective coins •	The SHA-256 algorithm is used by Bitcoin and Bitcoin Cash  •	The Scrypt algorithm is used by Litecoin and Dogecoin •	The X11 algorithm is used by Dash Coin •	The Neoscrypt algorithm is used by Trezarcoin and Orbitcoin •	The ethash algorithm is used by ethereum •	The Cryptonight algorithm is used by Monero •	The Blake(2b) algorithm is used by Siacoin   Specially designed mining hardware machines named Asics were created to make mining more easier and faster.  The ASICS mining hardware machines took over mining on a large scale, they were designed to mine at steady speeds but consuming less energy than GPUs making them the main mining hardware in place. Cost and Energy consumption are the two major determinants you should always consider before you decide to buy a mining hardware. Let’s take a look at Antminer S9 one of the best Asics miner available considering costs and power consumption.     Antminer S9 Antminer S9 is one of the most powerful miners in the market. Mining with it is a lot more profitable. Yes! You get your investment back that year! S9 is a good mining hardware in the mining industry. It comes in a self-contained unit without the power supply cord nevertheless, the setup is so simple and maintenance is easy.
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Mine while you take your time If you find this site useful feel free to contribute as a little as $0.02/ £0.01 to the development of Cryptonix 30 - 60 Minutes =  $0.02 / £0.01              
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Introduction To Mining The Various Crytpo Currrencies  Available Different types of hardware and software available as well basic information on equipment. We are here to learn more about how miners play a very important role mining coins as well as authorising transactions and placing them on the block chain. This is not a physically carried out however digitally using algorithms and specialised equipment. Crypto Currencies are not created out of thin air, their is a process required to make them available. Similar to how our current monetary system prints money. Anyone can become a miner here.  A miner validates the transactions on the block chain in a number of of ways using their hardware and specialised equipment. They inspect transaction amounts, identities and account details for the transactions passing through, essentially making sure everything is running correctly. Once transactions are verified, miners place details on a list containing all previous transactions keeping a record allowing anyone person access for complete transparency. This list then gets added to a database known as the Block Chain, a public ledger. As more blocks (transactions) are created and placed behind the most recent the  previous records are stored on the block chain for good and cannot be changed making your transactions, balance etc secure yet accessible.       Crypto Currencies are not sent as files as it may appear.  Every public address has a matching private digital key. This keys are basically assigned to certain amounts of currency so no actual trade goes on simply verifications. Miners essentially play the role similar to bank tellers: Verifying, Checking etc However this is done automatically via the Hardware and no physical interaction actually takes places  Their are many layers of security and protocols to prevent miners from manipulating transactions. If interested in knowing more please read into this, it is a topic which needs to be covered in depth. Miners have to compete with each other to mine in simple terms. A miners transaction list will become part of the block chain when majority of the community of miners within that coin agree with a) all transactions are valid, no fraudulent behaviour or double spending b) the miner has correctly solved a mathematical problem.  A digital signature operates by using a hash function,. A hash function is a  maths equation which takes any given input to create a random output which will always match the input.       Example of a Hash function used by Bitcoin is SHA25:  Input text - Mining  Output:          2A6D20857DB7731DF21F791262F8B89D19BE55A4DF5FC45638BC2BD2607EB56D  Keeping in mind the above example, the random string of characters generated will always be the same when the input text it ‘Mining’ Try it for your self, visit a online hash calculator and create you own random string of characters.   With mining when the input signature is the signature of a previous block with a list of unique transactions the string generated will be unique to the data entered, miners use this to verify transactions and also avoid fraud of any kind because the data will not match, the signature will be in correct.  All miners can create new signatures very quickly using previous signatures and current lists with the help of powerful machines to perform these tasks. To decide a winner, the solution string that miners must guess is one which is difficult to generate and will require many attempts.  The unique combination used to create the characters must be figured out by miners. Miners will repeatedly make attempts at filling in the blanks in split seconds using their powerful miners and so miners with higher end technology, faster equipment will make theses guesses much sooner and are more likely of winning.  The right block signature (hash) will then be validated by the other miners as explained above and placed on the block chain. Miners then use this previous digital certificate to solve the new block and so the race starts again.  To prevent blocks being written to slowly as miners increase etc the protocols are adjusted every few weeks accordingly increasing or lowering the difficulty.   Each coin has it’s own algorithm and equations which mean we need different hardware and software are required depending on the coin mined.  They are trying to guess a random number which could be 1 billion x 1 billion so the person with the fastest equipment will have chances of guessing this number sooner. The winner earns the rights to process a list of transactions onto the block chain receiving the value of a coin as payment as well.    This is why we see many investing allot into mining as the equipment required can be substantial. Lets also remember that as mining becomes more competitive the difficulty rises meaning more investment is required.  We also have to take into account electricity costs as factoring everything in effects your overall return.. We are simply trying to cover the basics to improve your understanding.  We hope you find the information here useful, please look into this subject in more depth if interested in knowing more.      Miners used their (CPUs) in the past for mining,  the CPUS used before were not fast enough and could not perform large amount of calculations , Miners had no choice than to move to using GPUs- graphical processing units for their mining operations -as the latter was able to do more hash a lot more than CPUs.  However coins have different requirements, sometimes a GPU might not favour, vice versa. We also have various cloud based mining options available where we rent mining rigs in exchange for a monthly income. Bear in mind the market and prices are not stable which effect mining capabilities. Cloud mining is considered risky and not reliable. please research prior if interested in using. Many sites claim to offer more then they can deliver        Today, mining with a single GPU is not worth the stress except you build a mining rig. Below is a short list of the best mining GPUs you should consider buying. Remember, spend less and Profit more! Mining is not considered to be profitable at the moment unless building a rig to save on costs or investing large amounts of money due to competitiveness. Perhaps building a system to use for personal reasons as well so as to make a good return on your investment.
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GPU Graphics Processing Unit  CPU  Central Processing Unit Nvidia GeForce GTX 1070 Nvidia is at it again! Nvidia GTX 1070 is a great graphic card for gaming and mining. This outstanding graphic card can provide a hash rate of about 40mh/s using the right settings with a few tweaks without needing too much power.  The  power  consumption of a GPU should be put into consideration before purchase because the more the power a GPU needs to run, the more expensive it becomes, and this will reduce your profits- remember you have to pay electricity bills!  The 1070 is a little expensive though,  but It is one of the best GPU out there if you are into crypto currency mining for the long run.  Nvidia GTX 1080 Ti The Nvidia GTX 1080Ti remains one of the most powerful graphics cards available in this year. Good for gaming and mining but unfortunately expensive another thing is that it draws more power compared to its competitors i.e. 1070s, this means  that you’ll be getting less returns  and it will take a while to cover the amount you spent purchasing it. However, if you don’t mind spending extra amount of money for such a powerful graphic card, then you’ll be happy with the results,  you only need to do some tweaking to get an hash rate between 40-45 mh/s.  Nvidia GTX 1070 Ti The GTX 1070 is another fantastic GPU with lots of power upgrades.  i.e. increased base clock. The 1070 does a very good job, however it is a little bit expensive. This GPU costs more on stores probably because it is a little bit upgraded, unfortunately this will reduce your profits in mining. Another drawback is the power consumption- making it more costly. The Nvidia 1080 is faster than the Nvidia 1070 and performs better mining other altcoins i.e Trezarcoin, unfortunately, it performance mining  Ethereum which makes use of the ethash algorithm is not impressive. The Nvidia 1070 outshines the Nvidia 1080 in Ethereum mining.  Below are the popular Crypto algorithms and their respective coins •	The SHA-256 algorithm is used by Bitcoin and Bitcoin Cash  •	The Scrypt algorithm is used by Litecoin and Dogecoin •	The X11 algorithm is used by Dash Coin •	The Neoscrypt algorithm is used by Trezarcoin and Orbitcoin •	The ethash algorithm is used by Ethereum •	The Cryptonight algorithm is used by Monero •	The Blake(2b) algorithm is used by Siacoin   Specially designed mining hardware machines named Asics were created to make mining more easier and faster.  The ASICS mining hardware machines took over mining on a large scale, they were designed to mine at steady speeds but consuming less energy than GPUs making them the main mining hardware in place. Cost and Energy consumption are the two major determinants you should always consider before you decide to buy a mining hardware. Let’s take a look at Antminer S9 one of the best Asics miner available considering costs and power consumption.     Antminer S9 Antminer S9 is one of the most powerful miners in the market. Mining with it is a lot more profitable. Yes! You get your investment back that year! S9 is a good mining hardware in the mining industry. It comes in a self-contained unit without the power supply cord nevertheless, the setup is so simple and maintenance is easy.  Use our miner below and depending on your system specifications increase the number of cores and threads to use and get a feel of mining. The coin  you mine below is Monero. Bear in mind the newer model Nvidia GTX cards can mine between 25-45 million hash per second mh/s. C ALL RIGHTS RESERVED  CRYPTONIX 2018
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