Bitcoin Essentials

Gain insights into Bitcoin, a cryptocurrency and a powerful technology, to optimize your Bitcoin mining techniques About This Book * Learn how to use the advanced features of Bitcoin wallets * Set up your Bitcoin mining operations to mine with efficiency * Explore what the future holds for mining [...]
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Gain insights into Bitcoin, a cryptocurrency and a powerful technology, to optimize your Bitcoin mining techniques About This Book * Learn how to use the advanced features of Bitcoin wallets * Set up your Bitcoin mining operations to mine with efficiency * Explore what the future holds for mining and blockchains in this pragmatic guide Who This Book Is For If you have never mined before, this book will ensure that you know what mining is all about. If you are familiar with Bitcoin mining, then it will help you to optimize your mining operations at a deeper level. A basic understanding of computers and operating systems is assumed, and some familiarity with cryptocurrency basics would be an added advantage.What You Will Learn * Get introduced to Bitcoin mining from the ground up * Find out about mining software and the different types of mining hardware * Master setup techniques to enable efficient mining * Examine the pros and cons of the different types of mining hardware * Deduce the differences between solo and pool mining * Take a peek into professional mining farms * Explore the future of mining and blockchain-based applications In Detail 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. Style and approach This is a practical guide that includes detailed step-by-step instructions and examples on each essential concept of Bitcoin mining.