December 2019
Beginner
368 pages
9h 46m
English
Content preview from Cryptocurrency Mining For Dummies
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Chapter 5
The Evolution of Mining
IN THIS CHAPTER
Learning about the evolution of bitcoin mining
Working with blockchain
Looking back at the era of solo mining
Working with a mining pool
Working with a cloud mining operation
For the first few years of bitcoin’s existence, the network was not widely known, and very few users were running nodes or mining. The hardware used to mine was also very basic: general-use computer equipment not designed specifically for mining. Due to this, the amount of computational resources that were being dedicated to mining blocks and securing the network was very small in comparison to today. It was also viewed by most participants in the ecosystem during this period as an experiment and was not something that many believed was worth devoting significant amounts of resources to. These factors combined to create a very low block difficulty environment for early bitcoin miners.
In this chapter, we look at the history of bitcoin mining, the evolution of ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.