Razer rethinks virtual currencies, & will help you mine bitcoins

Razer’s Rebranding and Launching Mining App

Razer, the gaming hardware manufacturer operating out of the United States of America, has overhauled its native virtual currencies and loyalty programme, and seen fit to launch a desktop mining app. This news was made public thanks to a blog post published on the 12th of December 2018.

What is Cryptocurrency Mining?

Simply put, it’s a way to get hold of bitcoins. You could always buy them, but bitcoin mining creates new ones by producing new parts of the blockchain.

In order to mine, there has to a peer-to-peer computers network, so that tasks can be performed with the combined computing power these networks make possible. The more computers in the system, and the less centralised it is, the more quickly these functions will be accomplished.

Each computer is called a host in the blockchain, and the network then engages thanks to a cryptographic protocol. By recording and confirming unique operations in to the virtual, replicated, and distributed public database that is blockchain, miners, who are doing the work, make new parts of the chain, receiving 12.5 bitcoins for each of these as their reward. The new block can be made just once in a 10-minute period, and will synchronise all the operations, ensure their mathematical accuracy, and spread it around to all users.

Rebranding Virtual Currencies

The company was established back in 2005, and has gone on since then to become a leader in terms of gaming hardware and software manufacturing in the US, China, and Europe. Their software platform has reportedly got over 50 million users, and their revenues in the first six months of this year stood at US$274.2 million.

They have now redesigned their native reward programme and virtual credits, known as Razer zGold and zSilver. These launched in 2017, and have since gathered more than 5 million users, says the blog post. They will be known as Razor Gold and Silver, respectively, from this point onwards.

Regarding the latter, gamers will get rewarded with the currency for each Razer Gold they spend, and the more of the Gold gamers go through, the more Silver they will earn. These can then be exchanged for various discounts, products, and vouchers, in a system that is widely used by many different online companies, including top sites that offer real money games like River Belle Casino, for example.

A Desktop App to Get Bitcoins

The organisation is also busy with launching a new desktop application, Razer Softminer, which will utilise idle graphics processing unit power of users’ devices to solve puzzles based on blockchain on the back-end. Once you install the app and launch it, you’ll get rewarded with Razer Silver depending on how long the Softminer has been active, and the processing power of your PC. At the moment, Softminer is in beta, and supporting 5000 users weekly.

It looks like it has just become even more potentially profitable to enjoy the first-rate entertainment open to us in the form of gaming!

About Author