Crypto

Bitcoin miners earn 8 times more than other crypto miners


Bitcoin miners, since the emergence of Bitcoin in 2009,
has become very popular in the industry. In the case of mining, do this

Bitcoin miners confirm transactions

But in reality, there is more to it than that. In the Blockchain all operations must be validated and confirmed. The validation process solves complex mathematical equations by miners using computer computing power. Once decided, it must be confirmed by 51% of other miners before being approved and placed in the Blockchain. Only then will the miner solve the equation.

However, most people believe that all crypto currencies reward miners with the same amount of money.

But this is not the case. Bitcoin the king of crypto currencies, rewards his miners eight times more profit than other crypto currencies. According to information, on May 10, 2019, Bitcoin awarded its miners a record amount of $ 580,000

Ethereum, the next high-prize crypto currency
however, even in this case, the Bitcoin miner is delivering 8 times less profit than the prize. 10
As of May 2019, Ethereum financed its miners from $ 68,000.
rewarded with snow. On the other hand, Litecoin miners won $ 1,100 on May 10, 2019

Considering that these are the most common crypto currencies in the world, it can easily be said that Bitcoin charges have exceeded the fees of all other digital assets. At the same time, Ethereum Classic, Bitcoin Cash, Monero, Dash and other crypto miners received less than a $ 1,000 award.

Mining profits still depend on some factors.

Bitcoin is more profitable than other crypto currencies
despite the fact that a miner won the prize, a number of factors are described below.
depends:

Hash Rate : Hash rate, somehow the computer
depends on performance. This is the mathematical of a computer for a Bitcoin mine

Electrical Tariff :
Electricity tariff is very important to calculate profit. Miners electric
connected to electricity for energy or cooling and this energy in kilowatts

Power Consumption : Every
the miner consumes different amounts of energy. The profit you earn, the Bitcoin you have earned

Bitcoin Per Block
Award
: The amount obtained after a successful solution for each puzzle.
The award, which was 50 Bitcoin in 2009, then fell 12.5 and is expected to be 6.25 in 2020.

Not only this, the complexity of mining and, among others, Bitcoin's price, the profit earned by the miners despite the high total winning rates of the miners.

Zycrypto

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