So I found this hidden Gem a while back and I spent my time reading into it and learning the basic layout.
Its wonderfully simplistic and presented flawlessly. It allows you to Mine a multitude of #Cryptonote coins.
Now I've been told about how profitable this can be, and others feel its a waste of time.
I will personally say that familiarizing yourself with the platform and learning how to promote and effectively select and input everything correctly you'll increase the productivity more efficiently.
Another important thing is understanding that while the program engages and begins the mining process if you haven't submitted that mining action in the third icon choice on the MinerGate app you can't collect anything you earn.
Its simple enough, select a user Id for the task execution. Enter the Pool URL, and Pools login.
All of these are layed out for you to select and execute desired crypto reward.
It gives you over thirteen forms of crypto currency to mine.
All of these are easily copied and entered.
Exploration, and using a wiki step by step if need be will benefit greatly in your #Blockchain #CryptoNote #Community understandings. I have noticed that theres's a great deal of #STEEMIANS that don't have a clue how everything works, or better put how each crypto coin is generated and given value. This is done through mathematical algorithms being solved via the bots executing desired commands in an irreversable string of numbers and letters. Advanced users know this input data can be anything that is designed to form into neccesary bit string sequences.
Now after that most people are wondering about whats actually being sent and received and whats making this data valuable?
The blocks data includes a ledger and transaction history, along with a sort of intinerary list of commands that reads and vettes the data being created, to the final sequence letter or number, initalizing the start of the next sequence.
Its kinda like making something bigger slowly, and having an opening ceremony at the start of each new block, and cycling this for as long as the servers efficiently reach the Bandwith cap. Thats how the internets manged to grow and advance as rapidly as it does now. This process once engaged randomizes 256 Bit sequences by mathematical randomizes orders, that are calculated for probability and then further applied to a fluctuating value in which you know the base the amount of each dollar your currency should carry.
Its also important to note that the content being attached and accompanying all this multiplying space in the internet/Blockchain is carrying opensource content that converts to permant content with the block chains ledger content. These are the posts, and the content that have sorta been piggybacked into all this.
The technical term for the sequences and commands issued and receipt is labeled or advertised as a Block header.
Block headers contain 6 things:
The miner's client version. Pretty straight forward, the version number of the software the miner is using.
The hash of the previous block in the blockchain. This is what was calculated by the miners last time, and is now being calculated for the next block.
The Merkle root of all transactions on the block. This is confusing for some, but it is basically just a hash of all transactions in the block. When a new transaction comes in, there is a new Merkle root.
A timestamp.
The target difficulty of the network.
A nonce (random number).
All of that data is getting hashed through the SHA256 algorithm into a 256 bit number.
5 and 6 need more explaining. The difficulty is adjust every 2,016 blocks. The reason for the difficulty field is to keep blocks being found on average every 10 minutes, no matter how many miners there are. The more miners, the higher the difficulty. Miners are hashing billions of numbers per second between 0 and 2^256. The number that miners generate must be a number smaller than the target difficulty of the network to be valid. That's how the network keeps blocks being found every 10min on average.
Hopefully you understand this explanation to mining. The process explanation of this personal cryptonote was based of Bitcoin mining. as you navagate and learn how each is ran I hope you choose to self educate further on the Pros and Cons of each mining program you choose to run, and how to get the most out of the process.
