Cryptocurrency is a type of digital currency. It does not exist physically, but it can be used as an exchange currency, facilitating instant transactions throughout the internet regardless of the borders.
How does cryptomining work?
Mining is a computer process where coins that are moving through the internet are scouted. That way, when a block of information is verified, the miner gains a reward in the form of a new cryptocurrency that is introduced in the market.
What is a hash?
The hashrate is the combined total computational power used to mine and process transactions in the blockchain.
What is MH/S?
Those abbreviations mean the hash power generated. MH/S stands for megahash per second.
What is a rig?
Rigs are mining equipment that perform transactions through mathematical calculation. They execute web nods, in which they compile transactions as they occur, arrange them into blocks, add them to the chain and validate them. The rig components are the following: motherboard, graphic card, power supply unit, processor, hard drive/pendrive, RAM, USB razer, cooler fan, rack/structure.
What is profit?
Profit is an economic benefit.
What is a blockchain and how does it work?
It is an unchanging record book that contains every transaction ever executed on that web. Thus the name. It allows the transference of digital data using highly sophisticated coding in a very secure way. It is like an accountability book where all the input and output of money are registered, but in this case, it is about digital transactions.
What is a wallet and how does it work?
It is a digital purse or wallet where we can manage our cryptographical assets. It is software or hardware that was designed exclusively to store and manage public and private keys of cryptocurrency. It is a mobile app in which you can make multiple financial procedures even if you don’t have a bank account. Furthermore, you can make all this using your cell phone, from your house and with no waiting lines.
What are farms?
A mining farm is a wide location that holds many computers exclusively dedicated to the mining of one or more cryptocurrencies.
What is HiveOS? How does it work and what does it measure?
Hive OS measures your rig’s performance. It is an ultimate mining platform that allows its users to configure, remove and control processes in a more efficient and easy way, through thousands of platforms and in only one place.
How long does it take to assemble and make a rig operational?
Once we have all the components for the rig, it takes 2 days to assemble it and 3 days to calibrate the software.
When will the mining be transferred to my virtual wallet?
Each time the rig generates 0.1 ETH, the nominals will be transferred to your wallet.
What is the efficiency calculation of a rig?
The calculation is the following: the mining price of reward appears every 100 mh/s. According to the power of your equipment, you have to multiply by that rate and then by 30 days (for example: if you have mining equipment of 240 mh/s, you should multiply by 2.4). The result of that equation indicates the monthly gross efficiency of your rig.