Bitcoin is peer-to-peer technology to operate with no central authority or banks; the network collectively connects managing transactions and issuing bitcoins.
BTC is open-source publicly, nobody owns or controls BTC, and everyone can participate. BTC allows exciting uses that any previous payment system could not cover through many of its unique properties. Also, check ripple wallet and BTC wallet.
Why mining bitcoin?
Bitcoin mining is a network system of bitcoins where circulated. But it is also a critical element for the maintenance and development of the blockchain ledger. It can be performed using complex computers that solve incredibly computational math problems.
Mining cryptocurrency bitcoins is an exercise for testing. Virtual Machine cannot make any real BTC cash anymore using spare CPU cycles on manipulating blockchains.
Install required packages for Mining Bitcoin
# dnf groupinstall "Development Tools" -y # dnf install curl-devel openssl-devel git screen -y
Installing the package for Mining Bitcoin
# git clone https://github.com/tpruvot/cpuminer-multi.git cd cpuminer-multi
# ./configure CFLAGS="-march=native" --with-crypto --with-curl # ./build.sh
Create Mining Bitcoin script
# cat cpuminer_in_screen.sh #!/bin/bash # # Run niced down cpuminer in screen # screen -S cpuminer -m -d nice ~/cpuminer-multi/cpuminer -a sha256d -o stratum+tcp://ss.antpool.com:3333 -O tuklu_san.Centos8Miner:password
# chmod +x cpuminer_in_screen.sh # ./cpuminer_in_screen.sh # screen -ls There is a screen on: 19518.cpuminer (Detached) 1 Socket in /var/run/screen/S-root.
Mining Pool to use
This should be the owner’s choice. However, now we are using AntPool for testing. AntPool is run by Bitmain Tech Ltd. You can choose from BTC/BCH, LTC, ETH, ETC, DASH, ZCASH, SC, XMC, and BTM. There is no BTC mining fee for PPLNS but the pool gets to keep all the transaction fees with the block. The coinbase pool is mined by AntPool.
Software needed to make sure your hardware is compatible as well. Can mine Bitcoin with a GPU, ASIC or FPGA device, and a CPU. Depending on which device or devices preferred to use.
Although Bitcoin holds status as the most well-known cryptocurrency. A lot of crypto alternatives(altcoins), from Litecoin to Ethereum and Monero. Plan to mine other currencies, consider software that’s capable of mining multiple cryptocurrencies.
Finally, plan to mine ultimately dictates which free Bitcoin mining apps. Solo mining is single-user mining. Cloud mining benefits of mining without hardware maintenance. Pool mining is a popular choice as well where miners join a pool and share processing resources over the network. splitting rewards equally according to workload contributed to the pool.