Bitcoin is a type of digital cryptocurrency and a worldwide payment system which was initially released in 2009 by Satoshi Nakamoto. Bitcoin is a decentralized currency; it operates independently from a central bank. No one is aware of the future of Bitcoin and it is mostly unregulated. Government is mindful of their lack of control over currency and taxation.
How to do Bitcoin Mining on Xbox 360?
Bitcoin mining is a decentralized computational process which has two purposes: confirm transactions in a trustful manner in a block and create new bitcoins in each block. It is mostly performed by very powerful computers that solve complex computational math problems. Here is how to do Bitcoin mining on Xbox 360.
Initially, CPU has been popular for quite a long time as gaming consoles couldn’t provide an efficient environment and performance for Bitcoin mining. But, recently Xbox 360 developers have done some development to make it capable for Bitcoin mining. The developers used unified shaders in modern GPUs and OpenCL programming language. This enabled the GPU miners to work parallel on many hashes simultaneously. This outpaced any CPU in terms of raw hashing power, hashing power per watt, and hashing power per dollar.
To do Bitcoin Mining on Xbox 360, it is necessary that the console has a GPU with unified shaders and excellent integer performance. It should have a powerful GPU relative to the retail cost of the machine. Moreover, it should allow the user to access the shaders either through API (Microsoft XNA) or hacking/rooting console. Moreover, you will have to mine in a pool otherwise no separate GPU device could compete for shares during a mine. The problem to solve with the Xbox 360 is to find or write software that is compatible with the Xbox OS. As it is Windows-based, it wouldn’t be difficult to find one. You should have a GPU of at least two GB RAM and two GB video memory. Also, the RAM should be DDR2 which means double i.e. 2×1 GB. Thus, it is possible to do Bitcoin mining on Xbox 360 but it wouldn’t work great.
GPU mining is not that successful. There are some issues which make mining with current gaming consoles pointless. Marketing on gaming consoles is not that much influential. Nowadays, a $70 AMD graphics card has more power than Xbox 360. The gaming console’s hardware is weak compared to the hardware available today. The GPU can give low-end hashing power. GPU mining is unprofitable and futile. It seems that using current generation consoles such as Xbox 360 for hashing is not economical, you wouldn’t break even.