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Cryptocurrency Becoming the Vogue

Cryptocurrency Becoming the Vogue

by December 21, 2018 Mining, Technology

It is highly unlikely that any human with a smartphone must not have come across the buzzwords like Bitcoin, blockchain or cryptomining, over the past few years. Currently, there are more than 1,500 altcoins in the market and the market cap is valued at $100 billion as of last week. Now, as 2018 is coming to an end, you might wonder if you have missed the train and some may even argue that they were smart enough not to get onto one in the first place. The rise and fall of cryptocurrency deserves an article of its own.

But this article focuses essentially on how to mine these currencies and what is the hardware required to build a mining rig. The job of a cryptocurrency miner is to ensure the authenticity of a transaction and update the ledgers in the blockchain system. The whole point of this exercise is to crack the code and get rewarded by being able to authorise the transaction. This, in turn, helps cryptominers earn small amounts of cryptocurrency, for the service they provided.

A basic Z270-based Intel configuration can be assembled with a Celeron G3900 (G3930) processor and Core 2 Duo E7300 CPU based rigs. Athlon X3 445 is suitable for AMD-platforms with 970A chipset. Multicore processors, like the Intel Core i3, i5, i7 CPUs for Z270 chipset platforms are also good.

GPUs, or Graphics Processing Units, are by far the most important component of a cryptocurrency mining rig. Both NVIDIA and AMD have their advantages and shortcomings. The main differences are related to mining efficiency in terms of hash rate and power consumption which also depend on the algorithm of the mined coin. NVIDIA cards are generally easier to tune, less prone to cooling problems but need a bit more energy.