In case you have been active in cryptocurrency world you probably have heard the ASIC miner hardware device’s name. ASIC miner which is Application Specific Integrated Circuits chip designed with an exclusive purpose which is ranging from audio processing to managing a cellphone call mainly. However in the case of cryptocurrency mining, these chips are built into specific motherboards and power supplies, which all are constructed into a single device.
At the beginning of cryptocurrency mining process was something that almost everyone could do through home computer but now it is not working that way. At the current time no matter what type of cryptocurrency you are mining whether it is Bitcoin, Litecoin, DASH, or any other host of other cryptocurrencies, in case you want to do it effectively is doing it with a piece of hardware we are discussing as ASIC miner hardware device.
Why use ASIC miner?
ASICs have been working for more than 10 years for different purposes. They are used in many common appliances such as your cell phone. The thing that matters in this article is their adoption as cryptocurrency miners which has happened within the last few years. Mining is referred to the process of running complicated calculations in the search for a specific number and get reward for it. Mining hardware, like ASIC or GPU mining rig, would run through many demanded calculations before finding the desired numbers. These devices provide a combination of performance and low-power usage that has made them much more economical for running mining business in comparison with other general purpose hardware. It can be stated in the case of Bitcoin and Litecoin that ASIC mining is the only way anyone mines these specific cryptocurrencies at this time. By the mean in case you tend to mine any major cryptocurrencies, you certainly would have to join a mining pool and have ASIC mining hardware in your hands. You need to use ASIC hardware because it is the only hardware powerful enough to mine most of the major coins.
ASIC miner components
There are not many details to be seen in the ASIC miner’s design if you look at the device appearance. However in their interior design, hundreds of different elements can be seen. Each of these inner elements would many applications in device’s process. Generally designing an ASIC, the following hardware and tools are used.
- Special motherboard
- Special chips with nano technology
- Different ports and connections
- Cooling fans
- The display
- Frame and keys
Types of AISM miners
These mining devices have different types and each of them is designed to work on a particular algorithm. The most thing in common between different types of ASIC miner is their appearance. Usually all of them are designed in the form of a small box with several cooling fans. The main difference in the different types of device can be summarized in the following four options.
- The type of mining algorithm and coin
- Power consumption of the device
- Hash rate or hash production power
In general, each device has its own characteristics and can not be compared to another. But the most important thing that distinguishes these mining machines is its profitability. The profitability of each Miner device is calculated based on the price of a digital currency that can be minded and the machine’s hash rate. Also, the amount of energy consumed and the cost of consuming energy also affect the calculation of the profit. For this reason, they compare these devices in terms of profitability, since the profit parameter is derived from all other parameters and can accurately measure the performance of a device at a moment’s notice.
How to choose an ASIC miner device?
One of the best websites to track the profitability, hash rate, energy consumption, type of algorithm, mining coin, and even the cost of the Minecraft, is the asicminervalue.com website. This platform would give you very comprehensive and useful information in this area about these devices.
On this website, you can see a list of hundreds of different ASIC miners arranged in order of profitability. These statistics adopts with the price of digital currencies and instantly calculate the amount of profit to report it with the least amount of error.
If you click on any of the devices, you will be directed to the dedicated page of them. There you would be able to go through photos of the device itself, the price of the device in different stores, mining coin, the hash algorithm, daily, weekly, monthly and yearly profit of any particular device. The website also would let you know that how long it would take until you be able to achieve the initial purchase price of the device. Information about the hash rate, and the device’s power consumption is provided as well.
This comprehensive information will help you to choose the best option and choose the currency you wish to use and make sure it is suiting all the parameters.
Frequent questions and answers
The word refers to “Application specific integrated circuit.” It is a small computer which is designed and built exclusively for a limited set of processes. The system on the cheap works in cryptocurrency world in the way that the small computer specifically does mining a certain coin or set of coins.
As mentioned earlier in this article in the network of currencies, we need to authenticate and validate transactions transmitted over the network using a system in order to prevent unrealistic ones throughout the currency network. Specifically in a digitized digital currency network, this validation operation is performed by some users known as miners or extractors. These people calculate and examine lots of digit and codes for any particular transaction every second. Instead they would receive rewards from the network for doing complicated calculation this is called mining.
ASIC mining is a process of using a type of chip that is ultra specialized in a mining cryptocurrency. These devices generally consists of an ASIC chip, power source, fan, and mining software and using them they would let people to do mining and get rewards in return.
These miner devices are powerful hardware that can calculate billions of codes in a second. This super power tool allows people to generate millions of hash codes in a second and check it out so in this way mining is done.
It is not possible considering the fact that certain rigs will be customized for certain coins. By the mean any particular miner device that is built to mine Bitcoin can mine anything that uses the encryption the Bitcoin uses. If you want to know with straight words any SHA256 based miner device would also be able to mine SHA based currencies such as Litecoin and Bitcoin.
Yes of course. Since you can make money through mining rewards as well you can do it through these devices. However the amount of money you are able to make depends on the price of the coin you mine over time. Of course you may want to consider the cost of the hardware, cost of electricity, and other similar factors as well.