We explain you the basic concepts that sustain Blockchain Technology and how it works in relation to DASH cryptocurrency.
Dash blockchain is secured through a consensus mechanism called “Proof of Work” (PoW). Copies of the blockchain are kept on thousands of computers all over the world. "Mining" is the process where these computers solve extremely difficult math problems. The “miner” that solves the algorithm correctly has the right to add a new block to the blockchain and it gets rewarded collecting a fee in Dash.
GPUs and Algorithms
The algorithm used by Dash is X11 and the miner must solve the algorithm to earn a reward. There are 3 types of hardware that will allow you to mine Dash, the simplest is the CPU, and however, despite being versatile, it does not offer as much efficiency as the GPU. The GPU is less versatile than the CPU, GPUs are graphic cards that have a higher processing level to certain algorithms, their processing spectrum is smaller but this make them more dedicated to certain algorithms and therefore more efficient.
Hardware and more
The last hardware that can be used to mine Dash it is called ASIC (Application Specific Integrated Circuit), the difference between this hardware and the other two (CPU and GPU) is that the ASIC is designed for only one algorithm, this makes them less versatile but more efficient. The ASICs for Dash should solve the X11 algorithm. The idea of this algorithm was created by the founder of Dash, and it is the only used to mine this cryptocurrency.
Are you interested in mining? We guide you in the process