What is Cryptocurrency Mining?

Cryptocurrency mining is a process that secures the network, and at the same time rewards the miners with cryptocurrency. To mine cryptocurrency you need mining hardware. The three main categories of mining harder is GPU’s FPGA’s and ASIC’s. In the beginning the cryptocurrency miners mainly relied on CPU/GPU as mining hardware. As the hash-rate and competition grew so did the need for better and more competitive hardware. A new for of hardware saw the lite of day, ASIC’s. ASIC’s are application-specific integrated circuits. In this case this means that they are chips specifically designed to mine cryptocurrrency. When there life-cycle is done so is there use-case.

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