What Does Antminer Mine (Antminer Mines LTC)
What does the Antminer mine? Mining is the product of blockchain technology ap
What does the Antminer mine? Mining is the product of blockchain technology application. The mining method of Antminer is very similar to Bitcoin. Bitcoin mining mainly uses the Proof of Work (PoW) consensus mechanism, which ensures decentralization by adding hash algorithms to computer systems. However, according to the latest “2019 Global Blockchain Industry Research Report” released by Ant Group, Bitcoin’s inflation rate is as high as 30% or more, and a block is generated every 10 minutes, which means each block can receive a reward of 2 Bitcoins. This process takes about 3 months. This means that the value of Bitcoin will increase as the price of cryptocurrencies continues to rise. (coindesk)
Antminer mines LTC
According to official news, Antminer mines LTC (Litecoin), which currently supports mainstream digital currencies such as BTC and ETH.
It is reported that LTC is a token economic model based on Bitcoin. The price unit calculated by mathematical algorithms is 1 US dollar = 0.008 LTC. 1000 yuan of computing power corresponds to a LTC price of 200 US dollars. In terms of underlying technology, “mining” refers to the use of “scarcity of computing power”, and the computing power of Antminer can obtain the corresponding amount of LTC.
According to previous reports, in late March of this year, Antminer launched a new mining machine product named L9, with energy consumption as low as 30J/T.
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