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Highlights
- Crypto mining is a process by which a cryptocurrency releases or “mints” their coins
- It’s possible to either mine solo or participates in pool mining where a group of people try and solve an algorithm
- The mining software uses your computing power in order to mine cryptocurrency and then provide a detailed report on your earnings
The concept of cryptocurrency mining is probably one of the most misunderstood aspects of the crypto space. Part of that has to do with the name itself. In an everyday context, “mining” suggests physically digging the earth to extract a physical resource, like copper mining or gold mining.
So, when people hear “crypto mining”, their mind goes to that practical meaning, not realising that it has a much more abstract meaning.
You Can Be A Crypto Miner: 7 Crypto Mining Softwares
Long story short, crypto mining is a process by which cryptocurrency releases or “mints” their coins. Whoever mines these coins receive a percentage of that crypto as a reward.
This process began with one method – called proof-of-work (PoW) – where computers solve complex algorithms in order to release tokens. Older cryptos like Bitcoin and Ethereum still use this method.
More modern crypto blockchains use a method called proof-of-stake (PoS) where the users of the crypto blockchain mine the coins themselves.
This is a much more environmentally friendly option as it doesn’t consume as much energy as proof-of-work.
Crypto Mining for Beginners
Believe it or not, just about anyone can be a crypto miner. All that’s required is an internet connection, an ASIC device (application-specific integrated circuit) – or a device that’s made explicitly for mining - and finally, mining software.
Another alternative, if you don’t feel like mining solo, is to participate in pool mining where a group of people try and solve an algorithm.
Image Source: © Niserin | Megapixl.com
Crypto Mining Software
To mine for cryptocurrency, you will need specialised crypto mining software. This specialised software uses your computing power in order to mine cryptocurrency and then provide a detailed report on your earnings.
Here are seven of the best crypto mining softwares.
Slushpool
Slushpool is one of the most popular and oldest pool mining platforms and currently mines around 3.5 percent of all Bitcoins.
Cudo Miner
The Cudo Miner platform includes an user-friendly desktop application and a dedicated Web Console for monitoring and remote management.
Awesome Miner
Awesome Miner is a mining management utility for users of Windows and Linux. Awesome Miner provides an excellent solution for large mining farms. It has rich documentation and is educational and user-friendly.
Crypto Tab
Crypto Tab is the world's first browser with mining features. This software will work on a desktop or a smartphone.
Hashing24
Hashing24 are known for making crypto mining accessible to anyone. The modern tech in Hashing24 allows for greater efficiency – an important aspect of crypto mining.
MinerGate
MinerGate is a multi-currency mining pool trusted by 3.5 million users worldwide. It offers ten coins for mining, including Ethereum, Bitcoin and Litecoin.
Kryptex
Kryptex aims to make crypto mining very simple. When using Kryptex, users can run the program in the background and get paid by Kryptex for the work the computer does.
So, there you have it. A quick crash course in crypto mining and a list of the best crypto mining program on the market. What more do you need to start you in your crypto mining journey?
Happy mining!
