Dash Mining - for Dummies

Dash, an altcoin, is best known for two main features – ability to send instantly and highest level of privacy provision. It’s a fact that the confirmation is done in matter of seconds, giving it an edge over many other similar currency options. Its mining process is also significantly different from that of Bitcoin, one of the most popular cryptocurrencies now. While SHA-256 algorithm is used for mining Bitcoin, X11 algorithm is used for Dash mining.

Benefits of Dash Mining Most beneficial aspects of Dash mining are Less Expensive Expanded Privacy Instant Payments Facility 2-Tier Network

Once the puzzle or algorithmic problem gets solved and also verified by the network, a new block gets added to the block- chain. When a miner solves the puzzle and the block is added, the miner is rewarded by network with the help of Dash currency. Blockchain is the founding principle of Dash. Proof of Work or PoW, a secured consensus mechanism secures the blockchain. Specialized computers are used by the miners and mine Dash by solving difficult mathematical problems.

Dash Mining – How? Mining of DashMining of Dash currency can be done with the help of either ASICs (Application Specific Integrated Circuits) or CPU/GPU. It must be kept in mind that mining through CPU/GPU are not cost effective enough nowadays. Though the procedure of mining is significantly simpler with CPU/GPU, the associated high cost is making many miners to choose ASIC mining technique. In case of Dash mining facility, ASICs (Application Specific Integrated Circuits) have become the preferred choice because they are designed in such a manner that helps in solving Dash’s Proof of Work problems efficiently.

Mining Pools Most popular Dash mining pools are Zpool, Cryptopool, Aikapool, ViaBTC, Coinotron.com, Give me coins, Genesismining, Ipominer, Mining Pool Hub, Cybtc.info, Nicehash, Antpool, Avalon-life, Coinmine.pl, Dash.suprnova.cc, Suchpool.pw, COINFOUNDRY, and P2pool-dash.

What is X11 Chained Hashing Algorithm? X11 Chained Hashing Algorithm is a specialized hashing algorithm for mining Dash that uses eleven hashing algorithm sequence for PoW. The design is done in such a manner that increases currency’s decentralization level. This is especially done by making it difficult to make and keep the scarcity level high. One of the main advantages of X11 algorithm is that with its use the GPUs utilize around thirty per cent lesser wattage. In fact, when compared with Scrypt algorithm of Litecoin, the GPUs run thirty to fifty per cent cooler with the use of X11 algorithm.Scrypt algorithm

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