A decade ago when Satoshi Nakamoto unleashed the Bitcoin network, the security behind the protocol was guarded by only a few miners. These days, mining the SHA-256 algorithm has become a thriving industry that hasn’t stopped growing.
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Bitcoin Mining Pools and ASICs Change the Game
Every waking second of the day, bitcoin miners are crunching numbers, humming away in facilities that few people who use the network have ever seen. Miners from large facilities who form giant pools stem from a variety of provinces around the world. In the early days up until 2010, individuals mined bitcoin with a central processing unit (CPU). This was until people like Laszlo Hanyecz, the man who traded 10,000 BTC for two pizzas, and Artforz mined the cryptocurrency with a graphics processing unit (GPU). Artforz was an anonymous individual but became the talk of the bitcoin community during the early days after he created the first “farm” of GPU…