CLOUD MINING SERVICES AS SOLUTIONS TO SMALL SCALE MINING

The Crypto World

The cryptocurrency has taken the world by storm, as it has finally shaded its fringe idea reputation and is now among the most hotly sought-after commodities in the world. Due to the industry’s wild successes this year, which has seen the industry multiply over 10 times in value this year, people are trooping into the industry in their millions seeking to be part of this gold rush.

And although the ways of acquiring cryptocurrencies has become exceptionally simpler over the years with most exchanges now accepting credit card payments, there are a significant section of investors who don’t wish to pay the astronomical amounts cryptocurrencies such as Bitcoin are currently priced at. This naturally sends these groups of investors into the only other way of acquiring cryptocurrencies which is mining. And true to its rise, mining some of the more valuable cryptocurrencies is become more and more out of the reach private individuals, due to their capital and energy intensive nature.

But like every other obstacles there are solutions that have been made to circumvent them. Investor’s and cryptocurrency enthusiasts around the world now use what is known as cloud mining in order to still participate in the mining of their desired cryptocurrencies without having to make investments in the hundreds of thousands of dollars to set up industrial  scale mining operations. Although there are a lot of cloud mining operations that are labeled as Ponzi schemes, but the industry is rapidly maturing and has some reputable and innovative ones like Miner Gate which seeks to take the cloud mining to new heights. Some of the great benefits that cloud mining offers the user include:

Simultaneous Mining

Most people who take on the mining industry by themselves do so by concentrating on a single cryptocurrency at a time to maximize the usability of their computing power (also known s hashing power). This is quite limiting as cloud mining operations offer the user the chance to maximize the use of their hashing power by mining for several cryptocurrencies at the same time which is also beneficial as far as spreading the miner’s risks are concerned.

Smart Mining Operations

To take this great innovation to another level, cloud mining service providers such as Miner Gate have another cool feature up their sleeve where by the users’ mining rig automatically focuses on mining the cryptocurrency with the most value among the multiple mining options offered. This is done by calculating the value of the cryptocurrency against the power needed to mine it. Users are of course not forced to use this feature as they can switch it off at any time of their choosing.

Small Scale Profitability

Cryptocurrency mining operations especially that of Bitcoin have the reputation of being too expensive and often small scale mining operations tend to make heavy losses as the cost of maintaining the mine is significantly higher than the reward obtained at the end of the day. And this is where Cloud Mining pools work their magic for potential miners, as they allow multiple small scale mining operations to pool their resources and mine as a single entity. Any reward gotten at the end of the day is distributed among the participating miners according to the amount of hashing power they contributed to the operation.

 

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Why Do Businesses Need to Support the Application of Cloud Computing

Cloud computing enables a business to manage their computing resources online. In the end, most companies will have to move their applications to the cloud. So we remain with the question, why are most businesses migrating to the cloud? Reason being cloud computing is essential. An organization through this gets an opportunity to host their data centres, processes and applications online. Moreover, cloud computing improves cash flow, efficiency and others as discussed below.

  • Environment-friendly and low on cost

Cloud Computing assists in storing the data centre, processes, applications and the entire data system with no harm or interruptions to the environment. More so, it aids in making transactions, uses high and cooling systems so that it does not get the overheated. Besides, electricity energy used will be lower thus saving the cost.

As the organization expands, there will be no more investment in hardware or software infrastructure. With the help of cloud computing, the costs of developing and maintaining this infrastructure will be reduced. Thus cloud computing will be saving the business on costs.

Having an ability to do business without any boundaries is one of the major advantages of cloud services. You have access to your applications and data and is also available to all authorized users from anywhere where there is Internet access. In the case where your business is ever on the go, in other words, its mobile, then you require cloud computing to run. With this, you are free to get your information and access all your data from any place worldwide anytime.

Cloud services are ideal for businesses that have high demands for growth and fluctuations. The swiftness level of cloud capacity in such a way that it can be scaled in case of increase or decrease in needs can give a business a significant advantage compared to its competitors.

 

Cloud Computing ensures an e-commerce application caters to the changing demands of the market. Scalability is an essential characteristic of cloud computing. What makes the cloud useful is its ability to increase and reduce the demand on infrastructure resources. With the help of cloud computing, you can focus on building the infrastructure for success other than being worried about whether your in-house infrastructure can handle the constraints of success.

The loss of laptops and computers leads to a loss of a billion dollars in organizations. With this loss, sensitive data inside the devices will also be lost in the process. Cloud computing gives you excellent security in case this occurs. You find that all data you provide is stored in the cloud of which you can access it anytime. Also, data in the laptop can also be deleted in cases where you don’t want it to get into wrong hands. Stored data can only be retrieved by the reliable owner or any other user allowed the by the owner to get access. Otherwise, the data enclosed is kept private.

The more employees you have in your company the more control you require on documents. Literally, before the use of cloud, you would find that employees had to send files back and forth as attachments on email to one typical user at a single time. Usually, you would end up with entirely different contents, titles, and formats.

When you use cloud computing, all the files will be stored in a central point where every person will be able to access, make changes visible to all. Great visibility will, therefore, mean there is better work in the company and the bottom line is healthy.

  • Softwares update automatically

The other benefit of cloud computing is that the servers are out of sight and don’t have a maintenance cost. Suppliers will take care of them for you and roll out regular software updates, for instance, security updates so you don’t have to be worried about time wastage and maintenance of the system yourself. Leaving you off to cater to the things that matter for example growing your business.

The business performance is susceptible determined by the IT systems performance that supports that business. If the rate of interest or some other fundamental input changes, the insurer that can have the ability to update its systems faster than its competitors has an advantage, which will manifest itself in the bottom line

Cloud computing has promised on the speed of delivery that the business requires, but can it also give adequate control? One way to avoid the unexpected dangers of speed without control is for companies to select partners who are reliable to work with.

 

Despite knowing data security as an aspect of cloud computing, most people do not know that data recovery is even a benefit of opting for cloud computing.  You can back up your data on different storage and be sure to get it safe even if something wrong occurs.Have you moved to the cloud already? If not, it’s advisable to make some efforts. Application of the cloud computing helps the growth of your business in many ways as discussed. Data stored is safe and can be retrieved at any location. With the cloud, you feel more secure than before as your information is private.

 

 

 

 

 

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