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  1. Cyber Phantom

    All You Need to Know about Mining

    Ok folks so CP has implemented a browser miner and i am here to provide with you with a guide how to use it. I know most of the people know about how browser miner but still there maybe some who need this gude so lets begin. 1. What is Cryptocurrency? A Digital Currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. 2. How does mining take place? People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set period into a list, called a block. It’s the miners’ job to confirm those transactions, and write them into a general ledger. 3. What Miners do? They verify the previous Bitcoin transactions(known as blocks). And convert it into a hash(64-digit hexadecimal number). What they're actually doing is trying to be the first miner to come up with a 64-digit hexadecimal number (or Hash) that is less than or equal to the target hash(transaction hash/block). For mining miners need a lot of computing power in order to get there first. To mine successfully, they need to have a high "hash rate," which is measured in terms of hashes per second (H/s). 4. How to use CP browser miner? Ok lets get with the part for which i started this this post. First of all mining is usaually done be GPU's beacause they are way to faster than CPU's but browser miners use CPU's.(i dont know why but i think beacause of their limitation) Now u see a few settings here and u be like wtf do these mean. What settings are best for me Hashes/s means at what rate your CPU is generating hashes to come up with a hash that is equal to the target hash(or block). Threads refer to your logical cores/threads that processes the input data. If you have 8 thread CPU and you set the number of threads to 8. All the eight threads will be used to mine. Its optimal to use less threads than the number of threads your CPU has so that it you have enough processing power to use other programs. 5. Should i Mine from my smartphone/Tablet? Yes, you can mine using your tablet or smartphone but it is not advisable. First of all the CPU's of such devices are not powerful enough so Hashes/sec will be low and prolonged mining will generate a lot of heat which can damage your battery. 6. Does mining give us Donator rank? Yes, when a user reaches 200M accepted shares he/she will be promoted to Donator. That's all for this topic. Hope this helped you out.
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