What is the principle of mobile mining (about how mobile mining works)
The principle of mobile mining. According to CCN, a report from the blockchain
The principle of mobile mining. According to CCN, a report from the blockchain industry research company CipherTrace shows that in 2018, the top three mining revenue rankings were Bitcoin and Ethereum, accounting for 30%, 20%, and 10% respectively. According to reports, the process of mining cryptocurrencies on mobile phones consists of two components: one group uses mobile phones to mine digital assets to obtain a specific amount of information resources; the other group is a software service platform supported by third parties that is responsible for purchasing digital currencies for users. In this process, using a mobile phone for various operations consumes a large amount of electricity. What is the principle of mobile mining? There are two methods of mobile mining: the first is to use the Android system to run programs (such as downloading applications) for cryptocurrency transactions; the second is to mine cryptocurrencies on the iOS system of Apple, such as connecting the CPU to a smartphone or computer and letting it start working and performing network calculations, and so on.
About how mobile mining works
According to Cointelegraph, recent reports have asked how mobile mining works.
In this article, we will briefly understand what Bitcoin and Ethereum are.
1. The mining process of Bitcoin: Use smart devices (such as Android) to mine digital currencies; then convert them into cryptocurrencies; and then send them to an address (such as Bitcoin). This method prevents users from participating in games or paying fees without using a computer.
2. The mining mechanism of Bitcoin: When someone wants to purchase a certain currency, they need to buy it through a specialized company or other means and exchange it for cash. If people want to obtain Bitcoin as a reward and are willing to accept BTC payment, they either choose not to sell this asset or give up their funds.
3. The length of Bitcoin’s transaction record determines whether Bitcoin is used for investment purposes. How to ensure profitability is one of the key factors.
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