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Analysis of Bitcoin Cryptocurrency and Its Mining Techniques

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1 ZettaHash = 1000 Exahash = 1 x 106 Petahash = 1 x 109 Terahash = 1 x 1012 Gigahash = 1 x 1015 Megahash = 1 x 1018 Kilohash = 1 x 1021 hash 4.2 Mining Pool Mining pool came into existence after 2011 AD. A mining pool is a place where miners share their resources on a network and mine to claim the reward. Due to the increase in difficulty rate and the decrease in the computation power of mining hardware for the given difficulty, pool mining was operated. As of now, there are thousands of mining pool that are mining Bitcoin. Some of the popular mining pool are Btc.com, F2pool, Slushpool, etc. Since every miner is continuously competing to mine a single block, it becomes challenging for the mining pool which has fewer hardware resources. The chart in Figure 28, shows the network share data of the most popular bitcoin mining pools over the past year [36]. 44

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