Bitcoin mining software could be making the jump from smartphones to desktop
The price of bitcoin has plummeted to around $8,000 in the past two days, as miners begin to take advantage of the new technology.
The price is down from a high of $12,000 at the beginning of this month, but the price per coin has been trending upwards.
For now, the cryptocurrency remains a niche asset, with mining hardware prices rising in tandem with the bitcoin price.
A recent analysis by financial firm Gartner found that bitcoin mining hardware and software will be used in a mere 14% of desktop computers by 2020, down from 23% in 2021.
One of the biggest hurdles to bitcoin mining has been the difficulty of securing a secure blockchain, which makes it difficult to keep the ledger updated.
But the difficulty has largely been mitigated by the increasing adoption of bitcoin mining software, which uses an algorithm to process transactions.
This is in part due to the introduction of a new blockchain that has been designed to be more secure.
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