What is 1024Mining?

1024Mining provides cryptocurrency mining without purchasing any equipment. 1024Mining was created to ensure mining efficiency and to provide expert and novice resources with the same quality as corporate miners. Thanks to partnerships with industry leaders and access to the latest and most advanced technologies, we have quickly become one of the world's leading mining services. As a 1024Mining customer, you can enjoy many benefits, including:

· Access to world-class data centers and a network with a hashing power of over 200 PH/s

· Make sure you only receive newly mined coins

· which are automatically deposited into your balance.

How Cryptocurrency Cloud MiningWorks?

The cloud mining process is very similar to mining at home. After the transaction is published on the network, miners will include it in a new block attached to the existing blockchain to confirm the transaction.

Using the cloud mining service provided by third-party platforms such as 1024Mining, the repetitive and tedious work in the mining process can be handed over to the service provider. Through the computing power service provided by 1024Mining, you do not need to purchase and set up mining hardware yourself, and you can also mine cryptocurrency in the cloud.

Is Cloud Mining Profitable?

The profitability of cloud mining depends on many factors, including but not limited to cryptocurrency choice, market conditions, electricity prices, and mining difficulty. However, compared to setting up mining equipment by yourself, the profitability of cloud mining services is usually higher. This is because you don't have to invest a lot of capital in mining facilities, mining equipment is included in the service and you don't have to find cheap electricity yourself.

Is cloud mining risky?

Any investment has risks, and cryptocurrency mining is no exception. Before using any cloud mining service, please confirm that you are a prudent cryptocurrency investor. You can evaluate the benefits and risks of cryptocurrency mining according to your own financial situation, and judge whether it is suitable for investment.

The value of cryptocurrencies fluctuates wildly. Whether you can benefit from cloud mining services will be affected by many factors, including but not limited to the market value of cryptocurrencies, differences in electricity prices, the difficulty of the entire network and the block reward ratio of the mining pool.

How often will I receive currency?

New bitcoins mined during the previous mining day are credited to your balance daily.

Our minimum withdrawal total is 100 USDT. You may request a withdrawal of funds at any time.

How can I contact you if I needhelp?

contact us:

E-mail: service@1024mining.com

Tel: +1 917 442 4518

How do I withdraw funds?

· log in to your account

· Please go to the asset option "Balance - Withdrawal"

· Select withdrawal coin type

· Enter the amount

· Enter your wallet address

· Click the OK button

· Our minimum withdrawal total is 100 USDT. You may request a withdrawal of funds at any time. Withdrawal requests are processed the next day (UTC time) after submission.

How will I be affected ifthe owner,legal address or terms of the 1024Mining license change?

Existing mining contracts will be fully operational subject to possible changes in the terms of future contracts.

What is TH/s⋅day?

TH/s⋅day is a derivative of Bitcoin mining contracts subject to perpetual fluctuations in duration. It is calculated in TH/s and multiplied by the time remaining before the contract timeline is completed. The introduction of estimated values aims to organize contracts with different mining contract lifecycles and capabilities into a broad indicator, making it possible to balance data input and value adjustments.

How to calculateTH/s⋅day?

Demonstrate with the following example:

1.2 TH/s⋅283 days = 339.6 TH/s⋅days

The value of 1 TH/s⋅day is the difference between the entire mining contract amount and the estimated amount of TH/s⋅day (for contracts with a lifetime maintenance fee plan, the applicable estimate is 1 TH/s, because such The contract has no expiry date).

How to carry out KYCcertification?

· Homepage--KYC (or Personal Center--KYC)

· Select the authentication type (ID card, passport, driver's license)

· Follow the prompts on the page to upload the corresponding content

· click submit

Note : The certification result will be notified within 2 days

Cryptocurrency Terminology

If you are new to the cryptocurrency field, when you look at various industry-related terms on various cryptocurrency-related websites, you may still not understand what they mean.

The following is a cryptocurrency glossary, explaining some of the most common blockchain-related terms, we will continue to enrich the content of this list, welcome to check it often.

Table of contents

• ASIC
• Block
• Blockchain
• Blockchain Fork
• Blockchain Halving
• Chain Reorg
• Chain-Split
• Coinbase Transaction
• Consensus Mechanism
• CPU
• Double-Spending
• FPGA
• Genesis Block
• GPU/Graphics Card
• Hash/Sol/Graph
• Hashing
• Hashpower
• Hashrate
• Miner
• Mining Algorithm
• Mining Farm
• Mining Job
• Mining Rig
• Mining Software/Plugin
• Node
• Orphan Block
• Share
• Validator
• 51% Attack

Blockchain and Mining Terminology

ASIC : ASIC or application-specific integrated circuit refers to a special-purpose machine specially designed for the calculation of certain algorithms in the mining field. But other than that, ASICs can't do anything. While mining far more than a graphics card or CPU, they are notorious for being expensive, noisy, and power hungry.

Block: A block is a transaction record or a combination of transaction records verified by the network consensus mechanism, and the blocks are linked together to form a blockchain.

Blockchain: A blockchain is a public ledger that records transaction data in chronological order. It is called a blockchain because transactions are verified and combined in blocks, each of which is linked to the previous block. Link each other to form a blockchain.

Blockchain fork: A fork refers to modifying the rules of the blockchain and forming a new blockchain. There are currently two types of forks, namely soft forks and hard forks. In a hard fork, the new rules are no longer compatible with the old rules, and nodes and mining software need to be updated in order to apply the new rules to verify blocks. If the new rules are not adopted by all miners, a chain split will occur, read more here.

Blockchain halving: A halving event on the blockchain refers to an event in which the block reward is halved. In the Bitcoin network, this halving event occurs approximately every 4 years, which reduces the rate at which Bitcoins are created, and the halving process is programmed into the code of the blockchain.

Chain reorganization: If a chain split occurs, the blockchain may reorganize itself. Typically, the network will achieve this by selecting the longest (highest overall difficulty) chain as the main chain, which will result in blocks on the shortest chain being orphaned.

Chain Split: A chain split occurs when two or more blockchains are created out of an existing blockchain, which occurs when multiple miners verify a block at the same time, causing some miners to Mining on one chain while other miners are mining on another chain will result in orphaned blocks. In addition, after the hard fork, not all nodes are updated to the latest rules immediately, resulting in two blockchains with different rules, and chain splits will also occur.

Coinbase transaction: Please do not confuse this concept with Coinbase. Coinbase transaction refers to the first transaction of a block, which contains newly generated bitcoins and other block rewards for miners who verify the block.

Consensus mechanism: The consensus mechanism ensures that transactions on the blockchain are verified without trusting any third party. The consensus mechanism also prevents double spending. In cryptocurrencies, the consensus mechanism uses cryptography to achieve this. Consensus mechanisms include Proof of Work and Proof of Stake.

CPU: The CPU, or commonly referred to as the processor, is the core component of a computer, which acts as the "brain" of the machine and can be used for mining that is suitable for certain CPU mining algorithms.

Double Spend: A double spend is a cyber attack where someone tries to spend the same token twice in two different ways/transactions. Consensus mechanisms work to prevent this from happening, however, a double spend can occur after a 51% attack where the attacker double spends bitcoins and then reverses the transaction by orphaning blocks.

FPGA: An FPGA or Field Programmable Gate Array is a component that can be programmed at will. As a result, such devices are often better performing and technically more versatile than graphics cards. However, due to the high price and low applicability of FPGA mining machines, the current development is limited.

Genesis block: Genesis block refers to the first block of the blockchain. This block has no other previous blocks to link to, because there is no block before this block.

GPU/graphics card: GPU refers to the core chip on the graphics card. Most high-end PCs are equipped with a graphics card. The graphics card is most commonly used for rendering, especially for those gamers who have high graphics requirements. Graphics cards are designed for parallel computing and are therefore suitable for a wider range of mining algorithms.

Hash (Hash)/Sol/Graph: Hash (Hash) is the output obtained by computing the mining algorithm, and is a result (solution) of mathematical operations. Depending on the nature of the mathematical operations of the mining algorithm, this may be called a Solution (Sol) or a Graph.

Hashing: Hashing refers to the process of calculating the hash value of a specified hash function.

Hashpower: Hashpower describes the hash calculation capability of the specified hardware, which is used to compare the mining performance of different devices for the same algorithm, and its unit is hash rate (hashrate).

Hash rate: Hash rate refers to the number of solutions that a specific hardware can calculate for a specific algorithm within a certain time interval, usually in H/s. If a device can achieve a calculation rate of 100 TH/s in the SHA-256 algorithm, it means that it can calculate 100 trillion hash values (solutions) for the SHA-256 algorithm in 1 second.

Miner: From the perspective of the blockchain, a miner is an independent node that verifies new blocks on the blockchain in accordance with the rules of the network consensus. Miners validate blocks on a specific network with a proof-of-work consensus mechanism and solve mathematical problems using their computing power.

Mining Algorithm: Mining algorithm is a set of mathematical operation functions used by the network consensus mechanism, and the miner software applies the mining algorithm when searching for an effective solution.

Mining Farm: A mining farm is an overall name for a series of mining operations involving mining machines. A mining farm usually deploys a large number (usually hundreds or even thousands) of mining machines, ASICs and/or other types of mining equipment.

Mining Job: A mining job is requested by the mining software, which contains a difficulty target, which must be met by miners when submitting calculated shares and other data. If you mine on a mining pool, the difficulty of the mining operation will be lower than the network difficulty, so it is easier to find Share (effective solution).

Mining Rig: A mining rig is a system/PC that contains one or more components dedicated to mining. The most common platform is one with a GPU graphics card, but it can also be a CPU platform or a combination of both.

Mining Software/Plugin: Mining software or a mining plugin is a computer application that allows computing hardware such as a CPU or GPU graphics card to perform cryptocurrency mining. They use hardware to find the correct solution for a mining operation by hashing a specific mining algorithm.

Node: A node is a client that has a copy of all blockchain data, and its function is to retransmit transactions, blocks, and other information to other nodes on the network. If a node can create new blocks, it is called a miner.

Orphan Block: An orphan block is a block that is successfully verified according to the rules of the blockchain but rejected by the network. If two or more miners solve valid blocks at the same block height at the same time, it will This happens naturally, causing the chain to split. The network uses these two blocks until one of the chains has more verified blocks. Blocks in the short chain then become orphans.

Share: Share is a special hash (solution), which is a hash with a higher difficulty than the target difficulty required for the mining operation. This is an efficient solution that can be used to validate blocks on the blockchain if the share difficulty is higher than the network difficulty.

Validator: From the perspective of the blockchain, a validator is a node that, like a miner, can verify new blocks on the blockchain. However, validators are specific to the Proof-of-Stake consensus mechanism, and in most blockchains they will validate blocks based on the amount of funds they stake, concentrating voting power on those with the most tokens on the block.

51% Attack: A 51% attack occurs when a single entity controls more than 51% of the computing power voting power on the network, which allows the attacker to privately verify blocks and create a longer chain than the public blockchain . Once the attacker publishes a longer blockchain, all blocks on the public blockchain that were verified after the attack started will be orphaned, and all transactions on those blocks will be discarded by the network.

Hashrate Buying Guide

Hashing power buyers refer to individuals or organizations that purchase computing power from others for mining purposes. They can purchase computing power by renting mining machines, signing cloud mining agreements, or renting computing power on 1024Mining.

You can follow the guidance of the following tutorials to complete the computing power purchase and start mining:

1. Register a new account.

2. Determine the currency to be mined and the designated mining pool

3. Buy cloud computing power from 1024Mining

4. Please check your mining income on the mining pool side. Please be aware that the mining pool cannot guarantee your income. At the same time, 1024Mining only guarantees that the computing power you purchased will be passed on to you. Due to certain factors , this part of computing power may not be accepted by the mining pool.

Why People Need to Buy Computing Power

At 1024Mining, a question that is often asked is: Why do we need to purchase computing power? Below are a few specific reasons to buy computing power instead of cloud mining.

The computing power buyer has calculated in advance, tested different mining pools and income combinations, and tried to obtain the mining currency at the lowest computing power purchase cost;

Computing power buyers need to purchase a large amount of computing power that can be delivered quickly in a short period of time;

Mining pool owners purchase computing power to test the stability and compatibility of their mining pools.

How to profit from the purchased computing power

After you purchase the computing power, 1024Mining will distribute the computing power to the mining pool you specify, and the mining pool will distribute the income to you after receiving the computing power for mining. To browse the details of your income, please go to the relevant page of your mining pool to view it.

However, 1024Mining cannot make any guarantee for your income in the designated mining pool. 1024Mining only guarantees the delivery of computing power for your order. Due to various reasons such as technology, the mining pool you designate may not be able to fully receive the computing power.