Crypto-currency miner eyes digital windfallDOMINICO ZAPATA/STUFF Hamilton computer technician, Lovinder Singh, has recently started mining and trading crypto-currencies after seeing Bitcoin jump in value. Interest in Bitcoin, the most popular crypto-currency, has spiked as the online coin's value crossed the US$11,000 mark at the end of November. DOMINICO ZAPATA/STUFF Hamilton computer technician Lovinder Singh "mines" crypto-currency with dedicated machines, maintaining the decentralised blockchain technology by swapping electricity consumption and computer power for the digital coins. Crypto-currencies are built on blockchain technology, a distributed digital ledger - or record of transactions - considered more secure and fraud-proof than current databases. Miners swap the electricity and computing power required to confirm the record of blockchain transactions, in exchange for new coins.

Source: Stuff December 05, 2017 01:52 UTC