What is ASIC mining (ASIC miners mining ETH)
What is ASIC mining? What is ASIC mining? ASIC is a branch of blockchain technol
What is ASIC mining? What is ASIC mining? ASIC is a branch of blockchain technology that allows computer systems to achieve simpler computation, operation, and management. By using smart contract code for Bitcoin, transactions or other operations can be conducted on machines.
In the blockchain, each node is responsible for its own data and maintains the network according to its needs. Therefore, we know how to store some complex data in a server and process it, making the whole system simpler, more efficient, reliable, and secure. (As shown in the figure: This process is called “encoding,” which means that each program can be automatically executed). For example, you can run several different tasks on a computer and then pack them into your server.
If a user does not understand when they are participating in such mining activities, they may lose a lot of money (even unable to pay any fees). However, due to their abundance of time, energy, and work experience, their profits will be much higher than most people. Because it is difficult to profit from centralized servers, a vicious circle is formed. This type of problem can also be solved by using a cloud service-like approach, without relying on third-party software providers or intermediaries as traditional software does. That’s why people often use traditional internet applications to make money.
As more and more projects join the Bitcoin ecosystem, Bitcoin, as a digital gold, is gradually becoming an investment target for global investors. The price of Bitcoin has surpassed many government-issued currencies such as national currencies and the US dollar. The development of Bitcoin cannot be separated from institutional funding support and an expanding user base. However, currently, there are not many institutions willing to enter this field.
The main problem with this situation is the security of Bitcoin itself. Currently, many exchanges in the market support Bitcoin custody, and most of them are overseas companies, so the security of Bitcoin is also the focus of attention. Many people may still not know about this. In fact, for investing in Bitcoin, risk control is the most important because there is no insurance fund to purchase Bitcoin. After the price of Bitcoin rises, it can suffer losses once extreme market conditions occur, resulting in large losses.
In general, when the price of one Bitcoin falls below $10,000, investors will consider this a normal phenomenon. However, when Bitcoin returns to over $100,000, some investors may worry that Bitcoin will be heavily sold. At this time, investors easily realize that Bitcoin will not exist in the long term. In this case, the risks of investing in Bitcoin will also increase significantly.
However, ordinary investors should not worry too much. After the price of Bitcoin soars, investors often consider whether Bitcoin will continue to decline or experience a large drop. Because the price of Bitcoin fluctuates too much, many players cannot withstand the volatility. This is also the main reason why many retail investors choose to invest in Bitcoin.
ASIC miners mining ETH
According to official sources, ASIC miners are mining ETH (Ethereum) using the latest generation of Bitmain products. They adopt advanced ASIC chipsets and security technologies to protect the security of the Bitcoin network and ensure its stable operation.
Currently, there are about 36,000 circulating ETH in the market. As more and more machines join this market, ASIC is also actively deploying expansion plans in the ETH ecosystem, such as Antminer S19Pro, Whatsminer M30S, and Canaan AvalonMiner 1246 series.
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