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There’s a new mining technology that’s been created over the last year which basically means that you can build a computer and mine bitcoin for free. This is known as ‘ASIC mining’ or amongst other names such as ‘MinePeon‘. It allows you to use PC hardware with minimum configuration to create a powerful setup for mining coins, but what exactly is it?
So there are a whole bunch of cryptocurrencies being made around the world every single day, and one of the easiest ways to get involved in cryptocurrency itself without actually owning any is through ‘mining’. Through this process you use an advanced piece of software called an ASIC miner which has been specifically built by chip designers to handle complex computing tasks at incredible speeds. Without going into too much detail about all of the calculations behind these chips then basically what happens is that they mine for cryptocurrencies through mathematical functions known as SHA-256 (which stands for Single Hash Algorithm 256-bit). Chances are if you have even heard someone mention using their personal computer or laptop then it would be fair to assume that they are talking about one of these ASIC miners (or miners) because this type of hardware simply cannot be downsized like processors can be in laptops or consoles; unlike CPUs an ASIC does not scale up well due to its design