Analysis of Bitcoin Cryptocurrency and Its Mining Techniques

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On a high-end desktop PC, the computation is about 20 million hashes per second (MH/s). At that speed, it would take several years on average to find a valid block. GPU Mining GPU mining is considered as the second generation of Bitcoin mining. GPU mining started because of low computation power of CPU mining. GPU mining performed better than CPU mining but could not cope up with the increasing difficulty rate over time. There are drawbacks on GPU mining which are overheating and high level of hardware utilization during the mining process. FPGA mining FPGA mining is considered as the third generation of Bitcoin mining. After the first implementation of Bitcoin mining came out in Verilog, several miners switched from GPU mining to FPGA mining. The computation power of FPGA mining was much better than GPA mining during that time. Later on, the number of miners increased which increased the difficulty of the network. Due to the increase in difficulty of mining the blocks, FPGA mining could not satisfy the expectations. 20

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