What is Bitcoin Farming?
Bitcoin Farms are places where a lot of machines with high processing power are used to harvest any digital currency. In this case, Bitcoin. Huge server rooms are established to achieve faster solving of a block, to increase the probability of winning the reward of mining the block.
These farms could be owned by either a single person or a group of people. If it is owned by a group of people the Bitcoin Farming could also be referred to as Mining Pools. Pools are a great opportunity for small players to grab a piece of the bigger pie. If you are someone interested in making passive money, go check out Some of the best mining pools for beginners to make good money with their regular GPUs are. of Anyone and everyone can invest in a pool according to what their spending capacity is, and own a part of the mining servers.
Though mining and Crypto Farming are not totally the same. According to Investopedia, Mining is defined as,
Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new bitcoins are released. 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 blockchain 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 bitcoin.
Read more: https://www.investopedia.com/terms/b/bitcoin-mining.asp#ixzz5DYPB7hGI
Mining Vs Farming
So, by definition, we understand that farming refers to huge server houses where either an organization or a pool of miners conduct mining. But CryptoCurrency mining can be anywhere, in server houses, at homes( also known as, Solo Mining).
How Bitcoin Farming Works
Farmers use their machines and specialized software to solve a block. If your machine is the first one to solve the problem, you get rewarded with a small token fee. These farms are also a very necessary part of any cryptocurrency's ecosystem. The more the farmers or miners are there, the faster and more efficient will be the cryptocurreny.
Each solved block is attached to the previous block in the ledger which gave rise to the term blockchain. These blocks make sure that no one can scam anyone by re-transacting the same coins again and again and maintains the integrity of the system.
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