Definition:
A mining rig is a computer system used specifically for mining cryptocurrency. It is used by miners to solve the complex math problems associated with verifying and securing transactions on a particular cryptocurrency’s blockchain network. Since mining usually requires significant computational resources, mining rigs need to be powerful enough to compete with other miners on the network.
Explanation:
Mining rigs is essentially a blanket term to refer to any machine involved in mining cryptocurrency. It can be anything from a home computer to a special-purpose machine. The type of mining rig used to successfully mine a particular cryptocurrency depends mainly on the difficulty of the computations.
Networks automatically adjust the mining difficulty depending on the rate at which the computational problems are being solved. The higher the difficulty, the more powerful the rigs need to be to compete. For example, in the early days of Bitcoin, the mining difficulty low enough that regular home CPUs could successfully mine bitcoins. Today, the difficulty has risen to the point where powerful machines, known as ASICs, are now used to mine bitcoin.
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