Miners used to search for gold, work underground, and were often separated from their families. Modern miners search for cryptocurrencies, earn significantly more than their underground peers, and often don’t have to leave the house at all. Cryptocurrency mining has become a pretty lucrative activity, but it’s not as simple as it seems.
Anyone can engage in coin mining. In most cases, you only seem to need a powerful computer and graphics card and a site to mine from. Yet, there are some rules in this process that everyone who plans to get into this business must pay attention to. Moreover, getting crypto this way requires some investments, costs (primarily electricity), and time. In a way, it can be a job or hobby on the side.
Mining PKT Cash involves two stages of this process. The first is announcement mining, which you will most likely start with if you think in this direction. You can work alone or within a pool. The second is block mining, which implies a better understanding of blockchain technologies and more responsibility and commitment. These miners work together to be paid for their efforts, i.e., getting PKT Cash.
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Start as Announcement Miner
Announcement mining is a part of the job done by all those who want to cash in excess bandwidth. Users actually mine their bandwidth by using an algorithm for data encryption. It’s called Packetcrypt, and officially, it’s proof of work that you’re contributing to the network.
To get started, you need a strong CPU (or several of them) and bandwidth to share. Another option is to use a virtual server to create your droplet to connect to the mining network.
Once you have connected to the network, you start ‘digging’ for coins by sending an announcement (hashtag message). It is like an announcement for your entry and future contributions. After a while, you will have several successful announcements mined. It is a sign to the network that you have been successful in your work. The reward will arrive in time after your announcements move to the next phase.
Strive to Block Miners
The next stage of mining PKT Cash is called block mining. The name comes from the fact that announcements are collected in blocks, and they further form chains. Not all messages are of good quality to become a part of the chains. So miners must make the necessary selection that will result in the highest quality blockchain (find more information on this link).
Block miners are more experienced network participants and those who possess an excellent computation level. You can strive to this level, too. Besides knowledge and experience, you will also need strong enough hardware. Block miners compete to process more messages. The more successful they are, the better they are rewarded.
The collaboration of announcement and block miners has a stimulating effect on users to maintain the network infrastructure. Their participation in working together actually keeps the entire network decentralized.
Pool Mining
Pools are places where most PKT mining happens. These are communities with a common goal, and that is mining as many PKTs as possible. Users who participate in it join forces (computers). This way, they share better quality bandwidth. Also, their chance of success is significantly higher than if they mine alone.
Some pool participants have powerful computers, some own weaker machines. Some users have more computers. Your contribution to the whole mining process will depend on it. It can be easily calculated within one pool. Proportionally, you will be rewarded once the block miners receive a payout in the form of PKT Cash.
More information on pools, see on the following source: https://en.wikipedia.org/wiki/Mining_pool
Why PKT Cash?
You may be wondering the reasons for starting with mining a coin that is not yet listed for trading. Plus, its price isn’t very motivating ($ 0.001). The reason is simple – this currency has potential. Given that it is designed around the Internet and the bandwidth needed by individuals and industries, experts believe that PKT Cash is a good investment.
If you are familiar with the world of cryptocurrencies, you know that all successful coins have gone through the same, thorny paths. Today, some of them are worth several hundred times more. So there is a lot of hope for the PKT Cash and those who decide to mine it.
