「Mining」の版間の差分

提供: tezos-wiki
移動先: 案内検索
(1版 をインポートしました)
1行目: 1行目:
{{#seo:
+
<!-- This page is designed to be short and simple! It should provide only a very brief explanation of things that have their own page and should link to other pages whenever possible. This page should serve as an entry point and a place to organize most of our mining articles. Thank You! (-Atheros) -->
|title= Mining. What is hashcash? All about cryptocurrency - Bitcoin Wiki
+
[[File:Quick-and-dirty-4x5970-cooling.jpg|thumb|right|A home-made "[[Mining rig|mining rig]]"]]
|keywords=bitcoin,mining,Pooled, Equipment
 
|description= What is bitcoin minig? How does it work and how to make money on it? Mining: the technical part,Cryptocurrency list, Block, Difficulty, Blockchain, Proof-of-work,Transaction confirmation, Bitcoin transaction
 
}}
 
 
 
'''Mining''' is a [[transaction]] record process with bitcoins to [[blockchain]] – the public database of all the operations with Bitcoin, which is responsible for the [[transaction confirmation]]. [[Network]] nodes use blockchain to differ the [[REAL|real]] transactions from the attempt to spend the same facilities twice. The main mining objective is reaching a [[consensus]] between network nodes on which transactions consider legitimate.
 
:''Category: [[:Category:Mining|Mining‎]]''
 
 
 
 
== Introduction ==
 
== Introduction ==
 +
'''Mining''' is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "[[Mining rig|mining rig]]" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining".
 +
This ledger of past transactions is called the [[block chain]] as it is a chain of [[block|blocks]].
 +
The blockchain serves to [[Confirmation|confirm]] transactions to the rest of the network as having taken place.
 +
Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
  
'''Mining''' is the process of adding transaction records to Bitcoin's public [[ledger]] of past transactions (and a [[Mining rig|mining rig]] is a colloquial metaphor for a single computer system that performs the necessary computations for mining).
+
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual [[blocks]] must contain a [[proof of work|proof of work]] to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the [[hashcash]] proof-of-work function.
This ledger of past transactions is called the block chain as it is a [[chain]] of [[block|blocks]].
 
The block chain serves to [[Confirmation|confirm]] transactions to the rest of the network as having taken place.
 
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend [[coins]] that have already been spent elsewhere.
 
  
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a [[proof of work|proof of work]] to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the [[hashcash]] proof-of-work function.
+
The primary purpose of mining is to set the history of [[transactions]] in a way that is [[Irreversible Transactions|computationally impractical to modify by any one entity]]. By downloading and verifying the blockchain, bitcoin [[full node|nodes]] are able to reach consensus about the ordering of events in bitcoin.
  
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus.
+
Mining is also the mechanism used to [[Controlled supply|introduce Bitcoins]] into the system:
Mining is also the mechanism used to introduce Bitcoins into the system:
+
Miners are paid any [[transaction fees]] as well as a "subsidy" of newly created coins.
Miners are paid any [[transaction fees]] as well as a subsidy of newly created coins.
+
This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating [[people]] to provide [[security]] for the system.
 
  
 
Bitcoin mining is so called because it resembles the mining of other commodities:
 
Bitcoin mining is so called because it resembles the mining of other commodities:
it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
+
it requires exertion and it slowly makes new units available to anybody who wishes to take part. An important difference is that the [[Controlled supply|supply]] does not depend on the amount of mining. In general changing total miner hashpower does not change how many bitcoins are created over the long term.
 
 
 
 
 
 
== Transaction record process ==
 
[[File:Mining.png|500px|frameless|right]]
 
 
 
Besides this, mining is the only way of [[Bitcoin emission|bitcoins emission]] that are allocated as a miner reward for the mathematical task solution with the help of computer equipment. The process is advisedly done resource-intensive and difficult to leave permanent the number of blocks found by miners.
 
 
 
Every block should contain the confirmation that the mathematical task has been solved and each of the network nods can easily check, if the block has been really closed by the rules. Emission is decentralized as a mining reward that means a control absence over the output by a single center. During this process miners confirm accomplishing transactions in the network.  In order to protect the network from overruns, mining is possible in strictly defined capacities.
 
 
 
Bitcoins, issued with the help of mining are the best way to hold the transaction [[anonymity]] during the work with cryptocurrency. Nevertheless, they can be used only after getting 100 network confirmations.
 
 
 
== Mining Process ==
 
 
 
All the transfers in the Bitcoin system are public. Miners’ work consists in choosing the right hash, which will be convenient to all the network transactions and will provide getting of the private key. There are millions of possible combinations and that's why the process usually takes time and demands powerful equipment.
 
 
 
Unknown hash is the quantity that consists of the previous block [[hash]], a random number and transactions check value sum, made during 10 minutes. System conditions can satisfy the only one quantity, which isn't permanent and changes after each block is closed.
 
 
 
As soon as the right hash is defined the transaction block closes and the miner obtains reward in the amount of 12.5 bitcoins. This process can be compared with lottery, because a lot of participants are simultaneously searching the hash. The system works pursuant to the strict rules and according to them changing of closed block is practically impossible.
 
  
 
== Difficulty ==
 
== Difficulty ==
 
 
=== The Computationally-Difficult Problem ===
 
=== The Computationally-Difficult Problem ===
 
+
Mining a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the [[Target|target]] in order for the block to be accepted by the network. This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a [[Nonce|nonce]] is incremented. See [[Proof of work]] for more information.
Mining a block is difficult because the SHA-256 hash of a block's [[header]] must be lower than or equal to the target in order for the block to be accepted by the network. This problem can be simplified for explanation purposes: The hash of a block must [[start]] with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a [[Nonce|nonce]] is incremented. See Proof of work for more information.
 
  
 
=== The Difficulty Metric ===
 
=== The Difficulty Metric ===
 
 
The [[Difficulty|difficulty]] is the measure of how difficult it is to find a new block compared to the easiest it can ever be. The rate is recalculated every 2,016 blocks to a value such that the previous 2,016 blocks would have been generated in exactly one fortnight (two weeks) had everyone been mining at this difficulty. This is expected yield, on average, one block every ten minutes.
 
The [[Difficulty|difficulty]] is the measure of how difficult it is to find a new block compared to the easiest it can ever be. The rate is recalculated every 2,016 blocks to a value such that the previous 2,016 blocks would have been generated in exactly one fortnight (two weeks) had everyone been mining at this difficulty. This is expected yield, on average, one block every ten minutes.
  
As more miners join, the rate of block creation increases. As the rate of block generation increases, the difficulty rises to compensate, which has a balancing of effect due to reducing the rate of block-creation. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by the other participants in the network.
+
As more miners join, the rate of block creation increases. As the rate of block generation increases, the difficulty rises to compensate, which has a balancing of effect due to reducing the rate of block-creation. Any blocks released by malicious miners that do not meet the required [[Target|difficulty target]] will simply be rejected by the other participants in the network.
  
 
=== Reward ===
 
=== Reward ===
 
 
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 12.5 bitcoins; this value will halve every 210,000 blocks. See [[Controlled Currency Supply]].
 
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 12.5 bitcoins; this value will halve every 210,000 blocks. See [[Controlled Currency Supply]].
  
 
Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.
 
Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.
  
 +
== The mining ecosystem ==
  
== Pooling ==
 
:''Main page: [[Pooled mining‎]]''
 
 
Bitcoin mining is a very difficult process and it's necessary to have essential capacities for processing.  It has become practically impossible to follow mining alone, because of permanent increasing mining difficulty and crypto-currency market [[development]]. As a result, the concept “pool mining” has appeared, which means the computational capacities banding of several participants in a group for the new block generation. The pool obtained reward for the closed block is shared between its participants.
 
 
=== Mining Equipment ===
 
 
For the long time mining has been available for home computers users, but in 2013 competition between miners for finding the right hash has increased, therefore personal mining has lost it's economic justifiability. During the development and modernization process the next computer equipment types have been used for mining:
 
* CPU-mining is a one of the oldest versions working with the help of the computer processor. This option can be found in the main bitcoin [[client]], but it's off-stream now because of the extra low effectiveness;
 
* GPU-mining lies in using graphic card. This type of mining has changed the processors. It's hallmark is the increasing of system power;
 
* [[FPGA]]-mining is an upgrade variant of GPU mining, which differs by lower energy consumption;
 
* [[ASIC]] is a mining with a special equipment created specially for work with crypto-currency. Its effectiveness far exceeds the attributes of usual graphic cards, so it has inaugurated a new era in Bitcoin development.
 
 
=== Mining farm ===
 
:''Main page: [[Mining farm]]''
 
 
Mining farm – is a [[data center]], technically equipped to mine bitcoins or other cryptocurrencies.
 
 
They were emerged as a result of the constant complication of the mining process, which requires more technical, energy and financial resources.
 
 
 
Mining farms allow the productivity of computers and, consequently, the Hash Rate to be maximized. The productivity of the largest farms can be several dozen PH/s (1015 hashes/second).
 
 
Physically, mining farms are rooms with a large number of computers and servers that take on tasks for mining.
 
 
There are also home-mining farms. They differ from ordinary PCs, by being specially assempled and designed for mining. Home farms can bring profitability, but users often face the problem of excessive electricity consumption and overheating of the computer at home which makes mining unprofitable.
 
 
One of the main resources into which a miner has to invest is electricity. It is also a risk factor, since the mining farm requires a permanent 24/7 power source. In addition, a large number of processors require an appropriate cooling and ventilation system.
 
 
== Cloud mining ==
 
:''Main page: [[Cloud mining]]''
 
 
Cloud mining is a process of obtaining Bitcoins with the use of a remote data processing center with the general computational power. This allows the users to mine Bitcoins or alternative crypto currencies without controlling the equipment directly. Most of all, the services of the cloud mining are used by the users from the countries with an expensive electric power supply, which doesn’t allow them to create mining rigs by their own.
 
 
Another option is a private virtual service, where a user installs the mining [[software]].
 
 
Finally, a user may take the computational powers themselves by using already the results of their work and not coming in touch with physical or virtual servers.
 
 
== Web mining ==
 
:''Main page: [[Web mining]]''
 
Web-mining, or "hidden mining" – is an alternative method of cryptocurrency mining through the web browsers of users of [[websites]]. In fact, owners of Internet resources can convert the capacities of visitors' computers into cryptocurrency.
 
 
Web minining is conducted by special web-miners - programs that can work when the user's browser is switched on or runs in the background. Technically, such a program can be started on the computer with a line of JavaScript code written on the page, or the code itself is embedded into the browser extension. There are also viruses that make computer capacities work for cryptocurrency mining.
 
 
== Mining profit ==
 
:''Main page: [[Mining profit]]''
 
 
Profitability of mining is the level of reward that a user of the blockchain network receives for mining (providing of his technical capacities for verifying transactions and solution of network tasks, resulting in a new data block on the network).
 
 
The profitability of mining depends on two related factors.
 
The first one consists in the complexity of the process itself, on which the reward depends (the more difficult the process is, the smaller amounts of tasks can be made per technical resource unit and, consequently, the less reward you will receive).
 
The second factor is the cost of bitcoin (or other crypto currency). That is, how much your reward is in terms of fiat currencies.
 
 
The average annual profitability of mining ranges from 120 to 200% per annum, and for some products in the period of "mining boom" from the end of 2016 showed even the best result.
 
However, this indicator does not take into account additional investments: rental of premises, management of mining farms and energy costs. Adjusted for these factors in 2016, the profitability of mining amounted to about 10-50% per annum.
 
 
== The mining ecosystem ==
 
{{#ev:youtube|prt4X0VocEU|500|right|The mining ecosystem}}
 
 
=== Hardware ===
 
=== Hardware ===
 
+
[[File:Usb-fpga module 1.15x-hs-800.jpg|thumb|right|FPGA Module]]
Users have used various types of hardware over time to mine blocks. Hardware specifications and performance statistics are detailed on the Mining Hardware Comparison page.
+
Users have used various types of hardware over time to mine blocks. Hardware specifications and performance statistics are detailed on the [[Mining Hardware Comparison]] page.
==== CPU Mining ====
+
==== CPU Mining ====  
Early Bitcoin client versions allowed users to use their CPUs to mine. The advent of GPU mining made [[CPU mining]] financially unwise as the hashrate of the network grew to such a degree that the amount of bitcoins produced by CPU mining became lower than the cost of power to operate a CPU. The option was therefore removed from the core Bitcoin client's user interface.
+
Early Bitcoin client versions allowed users to use their CPUs to mine. The advent of GPU mining made CPU mining financially unwise as the hashrate of the network grew to such a degree that the amount of bitcoins produced by CPU mining became lower than the cost of power to operate a CPU. The option was therefore removed from the core Bitcoin client's user interface.
  
 
==== GPU Mining ====
 
==== GPU Mining ====
 
GPU Mining is drastically faster and more efficient than CPU mining. See the main article: [[Why a GPU mines faster than a CPU]]. A variety of popular [[Mining rig|mining rigs]] have been documented.
 
GPU Mining is drastically faster and more efficient than CPU mining. See the main article: [[Why a GPU mines faster than a CPU]]. A variety of popular [[Mining rig|mining rigs]] have been documented.
 
==== FPGA Mining ====
 
==== FPGA Mining ====
[[FPGA]] mining is a very efficient and fast way to mine, comparable to GPU mining and drastically outperforming CPU mining. FPGAs typically consume very small amounts of power with relatively high hash ratings, making them more viable and efficient than GPU mining. See Mining Hardware Comparison for [[FPGA]] hardware specifications and statistics.
+
FPGA mining is a very efficient and fast way to mine, comparable to GPU mining and drastically outperforming CPU mining. FPGAs typically consume very small amounts of power with relatively high hash ratings, making them more viable and efficient than GPU mining. See [[Mining Hardware Comparison]] for FPGA hardware specifications and statistics.
 
 
 
==== ASIC Mining ====
 
==== ASIC Mining ====
An application-specific integrated circuit, or [[ASIC]], is a microchip designed and manufactured for a very specific purpose. ASICs designed for [[Bitcoin]] mining were first released in 2013. For the amount of power they consume, they are vastly faster than all previous technologies and already have made GPU mining financially unwise in some countries and setups.
+
An application-specific integrated circuit, or ''ASIC'', is a microchip designed and manufactured for a very specific purpose. ASICs designed for Bitcoin mining were first released in 2013. For the amount of power they consume, they are vastly faster than all previous technologies and already have made GPU mining financially.
  
=== History ===
+
==== Mining services (Cloud mining) ====
Bitcoin's public ledger (the block chain) was started on January 3rd, [[2009]] at 18:15 UTC presumably by [[Satoshi Nakamoto]]. The first block is known as the [[genesis block]]. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.
+
[[:Category:Mining_contractors|Mining contractors]] provide mining services with performance specified by contract, often referred to as a "Mining Contract." They may, for example, rent out a specific level of mining capacity for a set price at a specific duration.
  
== See also ==
+
=== Pools ===
 +
As more and more miners competed for the limited supply of blocks, individuals found that they were working for months without finding a block and receiving any reward for their mining efforts. This made mining something of a gamble. To address the variance in their income miners started organizing themselves into [[Pooled mining|pools]] so that they could share rewards more evenly. See [[Pooled mining]] and [[Comparison of mining pools]].
  
* [[ASIC mining]]
+
=== History ===
* [[Pooled mining‎]]
+
Bitcoin's public ledger (the "block chain") was started on January 3rd, 2009 at 18:15 UTC presumably by [[Satoshi Nakamoto]]. The first block is known as the [[genesis block]]. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.
* [[Mining farm]]
 
* [[Cloud mining]]
 
* [[Web mining]]
 
* [[Mining profit]]
 
* [[Bitcoin]]
 
* [[Mining: the technical part]]
 
* [[Cryptocurrency list]]
 
* [[Block]]
 
* [[Difficulty]]
 
* [[Block chain]]
 
* [[Proof-of-work]]
 
* [[Transaction confirmation]]
 
* [[Bitcoin transaction]]
 
  
== Resources ==
+
==See Also==
  
* [https://www.weusecoins.com/ What is Bitcoin?]
 
* [https://www.bitcoinmining.com/ Bitcoin Mining]
 
* [https://www.youtube.com/watch?v=GmOzih6I1zs Video: What is Bitcoin Mining]
 
 
* [https://99bitcoins.com/beginners-guide-to-mining/ Beginner's Guide to Bitcoin Mining]
 
* [https://99bitcoins.com/beginners-guide-to-mining/ Beginner's Guide to Bitcoin Mining]
 
* [https://www.zpool.ca Bitcoin Multipool]
 
* [https://www.zpool.ca Bitcoin Multipool]
 
* [https://www.bitcoinmining.com Bitcoin Mining]
 
* [https://www.bitcoinmining.com Bitcoin Mining]
 
* [http://codinginmysleep.com/bitcoin-mining-in-plain-english Bitcoin Mining in Plain English] by David Perry
 
* [http://codinginmysleep.com/bitcoin-mining-in-plain-english Bitcoin Mining in Plain English] by David Perry
 +
* [https://www.weusecoins.com/en/mining-guide/ Getting Started With Bitcoin Mining]
 +
* [[Automatically mine when computer is locked|Tutorial to automatically start mining when you lock your computer]]. (Windows 7)
 
* [http://bitcoinminer.com Bitcoin Miner]
 
* [http://bitcoinminer.com Bitcoin Miner]
 +
* [http://www.bitcongress.org/bitcoin/best-bitcoin-mining-hardware/ Bitcoin Mining Hardware Comparison]
 
* [http://www.reddit.com/r/Bitcoin/comments/18q2jx/eli5_bitcoin_mining_xpost_in_eli5/ Simplified Explanation of Bitcoin Mining] by reddit user [http://www.reddit.com/user/azotic azotic]
 
* [http://www.reddit.com/r/Bitcoin/comments/18q2jx/eli5_bitcoin_mining_xpost_in_eli5/ Simplified Explanation of Bitcoin Mining] by reddit user [http://www.reddit.com/user/azotic azotic]
 
* [https://bitcoinchain.com/pools Bitcoin Mining Pools Comparison]
 
* [https://bitcoinchain.com/pools Bitcoin Mining Pools Comparison]
 
* [http://www.bitcoinmining.com/best-bitcoin-cloud-mining-contract-reviews/ Research, Review and Compare Cloud Mining Contracts]
 
* [http://www.bitcoinmining.com/best-bitcoin-cloud-mining-contract-reviews/ Research, Review and Compare Cloud Mining Contracts]
* [https://www.youtube.com/watch?v=GmOzih6I1zs Video: What is Bitcoin Mining?]
+
* [https://www.youtube.com/watch?v=GmOzih6I1zs Video: What is Bitcoin Mining?]  
 
* [http://yogh.io/#mine:last Mining Simulator] ([https://github.com/JornC/bitcoin-transaction-explorer GitHub source])
 
* [http://yogh.io/#mine:last Mining Simulator] ([https://github.com/JornC/bitcoin-transaction-explorer GitHub source])
 
* [http://bitcoindaily.org/bitcoin-guides/what-is-bitcoin-mining/ Bitcoin Mining Explained]
 
* [http://bitcoindaily.org/bitcoin-guides/what-is-bitcoin-mining/ Bitcoin Mining Explained]
* https://en.bitcoin.it/wiki/mining
+
[[ru:Mining]]
 
+
[[Category:Mining]][[Category:Vocabulary]]
 
 
 
 
[[de:Mining]][[es:Mining]][[fr:Mining]][[ru:Майнинг]][[zh-hans:挖矿]]
 
 
 
[[Category:Mining]]
 

2018年4月10日 (火) 00:57時点における版

Introduction

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining". This ledger of past transactions is called the block chain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.

The primary purpose of mining is to set the history of transactions in a way that is computationally impractical to modify by any one entity. By downloading and verifying the blockchain, bitcoin nodes are able to reach consensus about the ordering of events in bitcoin.

Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.

Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new units available to anybody who wishes to take part. An important difference is that the supply does not depend on the amount of mining. In general changing total miner hashpower does not change how many bitcoins are created over the long term.

Difficulty

The Computationally-Difficult Problem

Mining a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the target in order for the block to be accepted by the network. This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. See Proof of work for more information.

The Difficulty Metric

The difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. The rate is recalculated every 2,016 blocks to a value such that the previous 2,016 blocks would have been generated in exactly one fortnight (two weeks) had everyone been mining at this difficulty. This is expected yield, on average, one block every ten minutes.

As more miners join, the rate of block creation increases. As the rate of block generation increases, the difficulty rises to compensate, which has a balancing of effect due to reducing the rate of block-creation. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by the other participants in the network.

Reward

When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 12.5 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.

Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

The mining ecosystem

Hardware

Users have used various types of hardware over time to mine blocks. Hardware specifications and performance statistics are detailed on the Mining Hardware Comparison page.

CPU Mining

Early Bitcoin client versions allowed users to use their CPUs to mine. The advent of GPU mining made CPU mining financially unwise as the hashrate of the network grew to such a degree that the amount of bitcoins produced by CPU mining became lower than the cost of power to operate a CPU. The option was therefore removed from the core Bitcoin client's user interface.

GPU Mining

GPU Mining is drastically faster and more efficient than CPU mining. See the main article: Why a GPU mines faster than a CPU. A variety of popular mining rigs have been documented.

FPGA Mining

FPGA mining is a very efficient and fast way to mine, comparable to GPU mining and drastically outperforming CPU mining. FPGAs typically consume very small amounts of power with relatively high hash ratings, making them more viable and efficient than GPU mining. See Mining Hardware Comparison for FPGA hardware specifications and statistics.

ASIC Mining

An application-specific integrated circuit, or ASIC, is a microchip designed and manufactured for a very specific purpose. ASICs designed for Bitcoin mining were first released in 2013. For the amount of power they consume, they are vastly faster than all previous technologies and already have made GPU mining financially.

Mining services (Cloud mining)

Mining contractors provide mining services with performance specified by contract, often referred to as a "Mining Contract." They may, for example, rent out a specific level of mining capacity for a set price at a specific duration.

Pools

As more and more miners competed for the limited supply of blocks, individuals found that they were working for months without finding a block and receiving any reward for their mining efforts. This made mining something of a gamble. To address the variance in their income miners started organizing themselves into pools so that they could share rewards more evenly. See Pooled mining and Comparison of mining pools.

History

Bitcoin's public ledger (the "block chain") was started on January 3rd, 2009 at 18:15 UTC presumably by Satoshi Nakamoto. The first block is known as the genesis block. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.

See Also

ru:Mining