ViaBTC’s 7th Anniversary: The Evolution of Crypto Mining

ViaBTC’s 7th Anniversary: The Evolution of Crypto Mining

On January 3, 2009, Satoshi Nakamoto mined the Genesis Block on a small server in Helsinki, Finland, and received a reward of 50 bitcoins, which marks the beginning of crypto mining.

From CPU to ASIC

In Satoshi Nakamoto’s initial vision, BTC mining could be performed using CPUs installed on PCs. During its infancy, Bitcoin remained obscure and offered no value.

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It wasn’t until 2010 when Bitcoin enthusiast Laszlo Hanyecz argued that GPUs could perform more computations per second than CPUs and tried to use GPUs for mining, and he was correct. After Hanyecz shared his GPU mining code with the community, Bitcoin saw its first hashrate surge by 20,000 times, from 6 MH/s in January 2010 to 120 GH/s in December 2010.

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