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thumbnail_Once upon a time... Depin mining.png

Once upon a time... Depin mining.png

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### What is DePIN mining?

Decentralized physical infrastructure network mining, otherwise known as DePIN mining, requires the use of computational power, network bandwidth, or other physical infrastructure to support a decentralized network. In centralized networks, security and capacity are managed by one controlling entity, but DePIN mining allows anyone to earn rewards for providing a decentralized network with services.

Learn more about the [basics of DePIN mining](https://hivello.com/news/demystify-de-pin-with-hivello) and how it works.

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### How did DePIN mining start?

As the first cryptocurrency, Bitcoin required miners to use their processing power to secure the Bitcoin network and earn a reward for doing so. Bitcoin began a cryptocurrency revolution from which arose a wide variety of use cases, some of which allowed for the decentralization of physical infrastructure networks like file storage, compute power, and more.

File sharing networks like Storj created new ways for users to secure their data, and miners to offer their storage capacity in return for compensation. Next came Helium, a decentralized wireless network where anyone could provide the network with coverage and data transmission. Helium miners quickly took off and became popular in the DePIN mining space.

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### How big is the DePIN mining industry today?

At first, many DePIN networks were in their testnet phases and not fully operational. But over time, with networks like Helium, Storj, Arweave, and Livepeer, the industry has grown significantly. Today, the DePIN industry has an estimated 650 projects with a [total market capitalization of $35 billion](https://finance.yahoo.com/news/depin-mining-aggregator-hivello-launches-060900398.html). It’s estimated that by 2028, the industry will grow to a size of $3.5 trillion.

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### Why run a DePIN miner?

Running a DePIN miner has several benefits:**

**- Rewards:** Miners are rewarded for lending out their physical infrastructure. Rewards are paid out in the native cryptocurrency of whichever blockchain the miner is running.
**- Support decentralized networks:** If we want a world where data security and censorship resistance are core values, we need miners to provide their resources in support of decentralized networks where no one is in control. 
**- Join new communities:** As a miner, you are immediately at the center of the blockchain community. This gives you the opportunity to network and learn from other operators and participate in the growth of the network.

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### What are some challenges with DePIN mining?

The main challenges that miners face is the ability to turn a profit given the costs associated with mining. For some networks, there may be a large upfront cost for hardware equipment along with recurring costs for electricity and even space to house equipment for larger mining operations. Therefore, the miners that find ways to operate efficiently will stand the test of time and profit in the long run. 

Additionally, some DePIN networks require specialized hardware to mine. This means that you could be required to purchase additional hardware to mine certain blockchain networks, which comes at an additional cost. Plus, if a blockchain network becomes unprofitable to mine over time, the purchase of specialized hardware equipment becomes useless, and likely cannot be used to mine another network.

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### Enter Hivello, a software that will turn any PC or Laptop into a mining rig 

Hivello has introduced a new way to mine DePIN networks that doesn’t require high upfront hardware costs and turns any computer into a mining rig. Hivello is now available in Closed Beta for Windows 10 & Windows 11 devices (Mac/Linux/Raspberry Pi coming soon!). Getting started takes three easy steps:

- Step 1: Download the Hivello app
- Step 2: Install the app on your desktop
- Step 3: Choose a blockchain network and start earning rewards

Hivello allows you to mine the most popular DePIN networks, like Mysterium, Livepeer, and more with no experience or technical knowledge necessary. Using Hivello’s simple, easy setup process, anyone can take their existing laptop or PC and utilize its resources for DePIN mining. Plus, Hivello allows you to switch between blockchain networks whenever you’d like, and mine the network that can generate you the most rewards. 

Try Hivello today and turn your existing device into a powerful DePIN miner.

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Once Upon a Time... DePIN Mining

DePIN

thumbnail_All About GPUs in Crypto Mining  (1).png

All About GPUs in Crypto Mining  (1).png

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### Introducing proof-of-work

When Bitcoin was introduced, its proof-of-work (PoW) validation system required devices to use computational power to solve problems and secure transactions. In the beginning, many miners were people who wanted to make money gaming and saw Bitcoin mining as another passive income idea that could work for them.

Since very few miners worked on the network, early adopters could use CPU mining as an effective way to mine Bitcoin. However, as Bitcoin's popularity grew, so did its mining industry, making it harder for CPU miners to succeed. As Bitcoin grew, so did the popularity of Web3 mining.

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### CPUs become obsolete

Around 2010, miners realized that their CPU machines weren’t going to remain profitable in the long run. So, miners started moving toward GPUs as a way to mine successfully. At this point, if you wanted to make money online through mining, CPUs were no longer enough to mine cryptocurrencies successfully.

This was because, compared to GPUs, CPUs:
Have fewer processing capabilities
Can’t process as many computations simultaneously
Are less energy efficient 
Don’t lend themselves to cryptocurrency mining 

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### Altcoin miners emerge

In 2013, Bitcoin miners moved to a new technology that allowed them to mine even more efficiently: application-specific integrated circuits (ASICs). ASICs quickly became the norm in Bitcoin mining, but as this was happening, other blockchain networks with their own mining needs came online.

Ethereum and other altcoins started to emerge around 2014. Unlike Bitcoin’s SHA-256 hashing algorithm, altcoins were designed to be ASIC-resistant, meaning that GPUs were the best option for miners to succeed. Therefore, GPU miners quickly moved to these networks as they were immediately profitable to mine. In fact, in 2022, it was estimated that Ethereum miners alone spent $15 billion on GPU mining equipment alone.


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### The introduction of mining rigs and farms

With the development and introduction of new cryptocurrencies, GPU mining demand started to skyrocket. At the time, cryptocurrencies like ZCash, Monero, and Ravencoin were all popular. As a result, miners began building hardware specifically designed for mining purposes, known as mining rigs. Rigs often consist of multiple GPUs, a motherboard, RAM storage, and a cooling system. Then, they would take tens or hundreds of mining rigs and put them together in a large-scale facility known as a cryptocurrency mining farm. These farms were used for crypto mining at a massive scale. 

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### DePIN networks add to the mining demand

A new wave of cryptocurrencies was starting to emerge, helping create decentralized infrastructure networks (DePIN). These decentralized physical infrastructure networks began using miners to secure their infrastructure and network capabilities, from decentralized file storage to computing power. 

New DePIN networks like Helium, Arweave, Storj, and others emerged as decentralized competitors to physical infrastructure networks. But to keep these networks secure, miners were needed. This increased the demand for GPUs, which were used across a range of DePIN networks as an easy way for miners to make money.

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Hivello turns any computer into a GPU mining rig
You may not realize it, but your computer, no matter what it is, already has a graphics processing unit. If you can connect to a blockchain network, you earn money online with GPU mining from your own computer. 

This is exactly why Hivello was created. Hivello is a DePIN aggregator software that turns your computer into a mining rig in three easy steps without you needing any blockchain or technical expertise. Because Hivello can turn any computer into a mining rig, it allows anyone, no matter where they're located or their device, the opportunity to make money from home. Plus, with Hivello, you can select between blockchain networks whenever you’d like and mine the digital asset that’s most profitable at the moment. 

Download Hivello today, and turn your at-home computer into a passive crypto mining operation in minutes. 

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All About GPUs in Crypto Mining

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Discover Hivello, your gateway to DePIN, Decentralized Physical Infrastrucutre Network, mining. Contribute to Web3 applications and earn passive income with our user-friendly platform. No prior blockchain experience required.

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