HashFlare released a discount code that visitors can use to purchase a one-year Dash cloud mining contract. Using the discount code HF16SMILE10, users can get 10 percent off from their mining contract until Oct. 15.
HashFlare, which was launched back in 2013 by HashCoins, is a cloud mining site that offers cloud mining services for a variety of cryptocurrencies. This includes Dash, ETH, BTC and LTC. For BTC and Scrypt, the site allows people to keep cloud mining for a lifetime. For ETH or Dash, though, the mining contracts only last for a month.
Why would one need cloud mining?
One of the big challenges for any cryptocurrency is how to generate new coins or tokens. Even Bitcoin had to start small, with people mining the earliest bitcoins. The problem with that is a lot of the cryptocurrencies still use proof-of-work mining as a basis for creating new coins, even though they are dedicated to decentralization. This system progressively gets harder and harder. The end result is that mining efforts become concentrated with the people who have high-grade mining rigs.
The power requirements for running a crypto mining operation can be prohibitive. This is because mining coins requires people to solve difficult calculations. The more difficult the calculations, the more demanding it becomes for computers. Power consumption and temperature will cut into any profits created by mining, especially if the miner operates on their own. This is where cloud mining comes in.
Cloud mining is done by having dedicated data centers doing the mining, with people buying time on the hardware to do the mining for them. This enables people to earn cryptocurrencies without thinking about mining hardware, mining software, electricity, Internet bandwidth or other offline issues. All the buyer gets is the final result.
Having a discount on cloud mining services can mean that the buyer gains a profit from the coins that are generated. HashFlare is one of many cloud mining services out there, but it happens to be one of the best.
Mining for Dash
Dash mining is a currently a good investment. Originally named Darkcoin, Dash is a cryptocurrency that aims for maximum privacy. Using the X11 hashing algorithm for DarkCoin mining, Dash uses a sequence of eleven hashing algorithms for the proof-of-work. This ensures additional security on the network, making it more trustworthy.
Right now, the Dash price sits near $11. It is not as impressive as Bitcoin but the discounted mining and increased security can make it a good alternative cryptocoin for those who want to have a backup to their main Bitcoin account.
HashFlare also allows people to start mining other cryptocurrencies, without additional hassles or problems. It would be a good idea to try some alternatives to diversify the portfolio of cryptocoins.