DigiByte mining is the process in which new DigiBytes enter circulation on the global network. This process is carried out through a process known as proof of work. POW is considered the most secure method of ensuring trust and security on the blockchain.
Mining is conducted by donating your computing power to process aka mine "blocks" of transactions on the network. You will need either a CPU, GPU, or ASIC hardware attached to your computer to mine DigiByte. You will also need specialized mining software and a DigiByte wallet.
You have two options when it comes to mining; you can choose to solo mine or mine on your own from your own computer or you can join something known as a mining "pool." Mining pools are by far the most popular method used today.
A mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to solving a block.
Since mining is often attributed to something like the lottery, solo mining often does not give you a high chance of solving a block, especially with low hash rates.
With DigiByte you have the ability to choose to mine on five separate algorithms. These algorithms include; sha256, skein, qubit, groestl and scrypt. Each algorithm is better suited to different types of mining hardware. Sha256 & scrypt are now almost exclusively mined by advanced "ASIC" miners. Skein and groestl are good for GPU's and qubit is a combination of multiple types of hardware.
Specialized mining hardware can be quite costly and often times it is simply better just to purchase DigiBytes if you do not already own right computing hardware such as a gaming graphics card.
Once you have chosen your mining hardware and mining algorithm you will need to configure your miner. depending on your operating system, hardware and other factors there are literally tens of thousands of possible configurations for your miner.
You will also need to download a special mining software for the algorithm, hardware and operating system you are using. There are several open source options to choose from when selecting mining software.
It is not uncommon to spend several days before you have fully optimized your miner and mining software. Google is your friend to help make this process as easy as possible.
Once you have configured everything the next step is to choose a mining pool so you have the best chance of earning DigiBytes. DigiHash is a great mining pool to start with because it is supported by the DigiByte foundation and part of the reward goes back to maintaining the network.
Start with CPU mining to learn the process.
Mining can be difficult to get started.
Specialized mining hardware can be very expensive.
There are tens of thousands of possible mining configurations.
Mining can be a fun endeavor to learn about blockchain technology.
Share what you learn with others.