Book Image

Bitcoin Essentials

By : Albert Szmigielski
Book Image

Bitcoin Essentials

By: Albert Szmigielski

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
Index

Benchmarks of mining speeds with different ASICs


As we have mentioned earlier, the Bitcoin network hash rate is really high now. Mining, even with ASICs, does not guarantee profits. This is due to the fact that during the mining process you are competing with other miners to try to solve a block. If those other miners are running a larger percentage of the total mining power, you will be at a disadvantage, as they are more likely to solve a block.

To compare the mining speed of a few ASICs, look at the following table:

ASIC

Mining speed GH/s

Power used watts

AntMiner S2

1000

1100

AntMiner S4

2000

1400

AntMiner S5

1155

590

ASICMiner BE Prisma

1400

1100

BFL Monarch

700

490

Black Arrow Prospero X-3

2000

2000

CoinTera TerraMiner IV

1600

2100

HashCoins Apollo V3

1100

1000

HashCoins Zeus v3

4500

3000

KnC Neptune

3000

2100

Spondooliestech SP10

1400

1250

Spondooliestech SP35

5500

3650

Table. 5.1: Comparison of mining speed of different ASICs