Whitelabel ITSolutions Offers Low Electric Cost, Making Us Great For Crypto Mining

HACKENSACK, N.J. - March 26, 2018 - PRLog -- Cryptocurrency has grown tremendously over the past years, its popularity is drowning attention from investors of all ages. Now that it has become a worldwide phenomenon more people are looking to get into the cryptocurrency business. Its production isn´t anything like the regular money; it has no central government and the coins are generated through a process known as mining.

Anyone with access to the internet and suitable hardware can participate in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released coin. The amount of new coin released with each mined block is called the block reward. The block reward started at 50 in 2009, is now 12.5 in 2018, and will continue to decrease.  This diminishing block reward will result in a total release of bitcoin that approaches 21 million.

When cryptocurrency started mining was done with CPUs from normal desktop computer, some disadvantages were overheated equipment among others. Then new ways like GPUs or graphics processing units were used which were more effective at mining than CPUs therefore cryptocurrency mining gained popularity. Eventually ASIC or Application Specific Integrated Circuit was design especially for cryptocurrency mining. Now a days ASIC has evolve too, with more efficient designs. Mining is competitive and today can only be done profitably with the latest ASICs.  When using CPUs, GPUs, or even the older ASICs, the cost of energy consumption is greater than the revenue generated. With Whitelabel ITSolution you can invest without worrying about the electric bill, we offer low electric cost services making us great for cryptocurrency mining.

To know more about our services visit: https://whitelabelitsolutions.com/ or call: 1 201 425 4060