It is quite possible that mining may become more centralized. In the summer of 2016, the block reward will halve to 12.5 BTC; this development may move some of the smaller miners into an unprofitable territory; hence, forcing them to stop mining. As a result, the big miners may end up with a bigger overall percentage of the hashrate. Manufacturers of mining equipment constantly put out better, faster, and more efficient hardware. There is a consolidation happening in this space; thereby, creating larger mining entities. Quantum computing may also introduce a miner with enormous hash-power, and of course, if the BTC value, as measured against local currency, skyrockets, then it will encourage more investment into mining equipment from large established mining firms.
Bitcoin Essentials
By :
Bitcoin Essentials
By:
Overview of this book
Blockchain is being billed as the technology of the future. Bitcoin is the first application of that technology. Mining is what makes it all possible. Exploring mining from a practical perspective will help you make informed decisions about your mining setup. Understanding what the future may hold for blockchains, and therefore for mining, will help you position yourself to take advantage of the impending changes.
This practical guide starts with an introduction to Bitcoin wallets, as well as mining hardware and software. You will move on to learn about different mining techniques using the CPU, GPU, FPGA, and ultimately the ASIC as an example. After this, you will gain an insight into solo mining and pool mining, and see the differences between the two. The book will then walk you through large-scale mining and the challenges faced during such operations. Finally, you will take a look into the future to see a world where blockchain-based applications are commonplace and mining is ubiquitous.
Table of Contents (15 chapters)
Bitcoin Essentials
Credits
About the Author
About the Reviewer
www.PacktPub.com
Preface
Free Chapter
Bitcoin Wallets and Mining Software
CPU Mining
GPU Mining
FPGA Mining
ASIC Mining
Solo Versus Pool Mining
Large Scale Mining
The Future of Bitcoin Mining
Index
Customer Reviews