This delivers the work to the miners and receives the completed work from the miners and relays that information back to the blockchain and your mining pool.
These services enables owners to not deal with any of the hassles usually encountered when mining bitcoins such as electricity, hosting issues, heat, installation or upkeep trouble.
Scam mining companies are common and many have fallen prey to their schemes. Beware.
Bitcoin is an internet protocol that enables the transfer of value over a communications channel like the Internet or radio.
An easily understood application is decentralized digital currency; like being able to send a gold coin as easy as you send an email.
But blockchain technology enables many things like a fridge that can pay for and restock itself or self-driving taxis.
Bitcoin mining is how Bitcoin transactions are validated and confirmed by the Bitcoin network.
Bitcoin miners create a new block by solving a proof of work problem that is chained through cryptographic proof to the previous block.
A Bitcoin miner is a computer specifically designed to solve problems according to the proof of work algorithm.
Currently, highly specialized chips called ASICs, Application Specific Integrated Circuits, are used as Bitcoin miners.
Anyone can get a bitcoin miner and mine bitcoins by connecting to the Bitcoin network. Those with lower electricity costs have a competitive advantage.