What environment does mining require (mining requires sli)

08/16/2023 18:27 • AI Insights • 59 views

What environment does mining require? What hardware, equipment, and corresponding power costs are needed for mining?

1) Power:

According to the policies of the national power grid, the electricity price is relatively reasonable in China, where power resources are scarce.

2) Low power consumption:

Due to the unstable electricity prices and high requirements for water quality, as well as the enormous and complex power demand in the power supply and production processes, most countries’ power systems have entered a transitional phase. Therefore, if you want to mine Bitcoin, you generally choose relatively inexpensive hydropower. However, because this industry has not yet reached a mature stage, in order to continue development under the premise of ensuring sufficient funds, the issue of high energy consumption must be taken into account.

3) “Expensive” technical requirements make it difficult for mining machines to operate normally:

With the development and progress of technology, various fields in the cryptocurrency industry are gradually moving towards specialization. This is mainly because some companies are working hard to solve problems and improve efficiency (such as cloud computing). Therefore, many traditional companies have begun to pay attention to blockchain technology. However, these companies are not aware of this.

4) “Security” and “environmental” risks accompany a series of performance indicators required for mining, including ASIC chips, GPU chips, graphics cards, etc. These include:

1) CPU/GPU providing power for mining digital assets.

2) CPU as a machine maintenance power source.

3) CPU as a server management tool.

4) GPU chips ensure the security and integrity of running data.

5) CPU protects mining algorithms by using a large amount of storage space, thereby reducing the demand for electricity.

The length of time required for mining determines whether a large amount of computing power is needed. Theoretically, we can consider it from the following aspects: 1) Ordinary computers cannot handle a large amount of computing power; 2) Even more operations may involve less frequency; 1) The size of the memory pool is limited; 2) The hard disk capacity is large enough; 3) The 5G connector is either too small or too slow, and other factors.

Another important factor is the power consumption of the computer. For example, if you have several laptops and want to mine Bitcoin, it will take a lot of time to complete the mining, or if your phone malfunctions, it will be difficult to find a replacement. (I am author Huang Xuejiao, for blockchain project reports, you can add WeChat hxjiapg, please specify your position and purpose).

Mining requires sli

According to btcmanager news, Bitmain announced that it has officially launched the mining pool sli. Mining Bitcoin requires obtaining “canary” Sli, which provides power and infrastructure for the Bitcoin network. According to the sli website, “Canary” (Slingshot) is a distributed ledger technology (DLT) based on Ethereum blockchain technology, and it runs on the Bitcoin network, maintained and verified by a relay called a “slingshot”.

It is reported that the Bitcoin community has established an association called the “BitcoinMiner Association”. The purpose of this association is to promote the process of distributing Bitcoin block rewards and increase the scale of Bitcoin computing power.

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What environment does mining require (mining requires sli)

Mining requires sli

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