Mineq - What is cryptocurrency mining?

 

Mining is the cornerstone of cryptocurrencies like Bitcoin, Monero, and Ether. The miners are in charge of processing blocks, which are made up of transactions made by users. These confirmed blocks, in turn, constitute the chains of a blockchain network.

It is due to the fundamental role that it is so essential to know the operation of mining, as well as its importance for the efficiency and safety of the network. Next, we will delve into this topic:

What is cryptocurrency mining?

Cryptocurrency mining can be defined as the process by which transactions on a network are validated and grouped, and then added to a ledger, known as a Blockchain. This process provides security to the network while allowing the generation of new currencies. Simply put, it is the activity that enables cryptocurrencies like Bitcoin to function.

This process is known by the name of "mining" because, in essence, it is similar to the mining of any mineral such as gold or coal. Only, instead of taking a pickaxe and a wheelbarrow to extract value from the land, you use software and computer hardware to extract value from the network.

When you mine cryptocurrencies, you put the processing power of your hardware at the service of a network, call it Bitcoin, Ethereum, Litecoin, Monero, etc. These cryptocurrency networks need the power of your teams to confirm that their users' transactions are valid. All valid transactions are grouped in a block that you then add to the blockchain, thus processing batches of commercial operations.

If you want to jump into crypto mining, we recommend buying Bitmain Antminer L7 which is one of the latest and most powerful machines.

Product description:

- Antminer L7 November NEW release 9500Mh / S
- Bitmain's latest Antminer L7 has a powerful 9500MH / s computing power and 3425W power consumption. Bitmain's new Antminer L7 aims to be the most powerful miner for mining Litecoin (LTC) and Dogecoin (DOGE). 
- With a computing power of 9500MH / s, the computing power of Antminer L7 is equivalent to that of 20 Antminer L3 +. Also, ASIC will support all cryptocurrencies based on the Scrypt algorithm. 
- Antminer L7 model
- Hash rate 9500MH / s
- Power 3425W
- Dimension 340 * 178 * 304mm
- Weight 14KG
- Temperature 0 ~ 40 ℃
- Ethernet interface
- Humidity 5 ~ 95%

If you want to buy the Antminer L7, you just have to contact us at mineq.cn.com and we can advise you on each step of the purchase. If not, you can also add it to the cart and make the purchase, we will contact you as soon as possible. Call us now to know about the Antminer L7 price.

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