Crypto mining can sound technical. This guide explains how HashNet works in plain language, for readers new to the subject.
What is mining, in HashNet’s context?
Mining uses specialised hardware that contributes to the operation of a cryptocurrency network. HashNet runs a fleet of mining machines across several networks, and the output from that mining is what customers are paid from.
What is an “algorithm”, and why does it matter?
Each coin uses a particular mining algorithm, and each mining machine is built for one algorithm. A machine built for one cannot mine coins that use another. That is why HashNet sorts its coins into groups:
| Algorithm group | Coins HashNet mines |
|---|---|
| SHA-256 | Bitcoin, Bitcoin Cash |
| Scrypt | Litecoin, Dogecoin |
| Equihash | Zcash |
| kHeavyHash | Kaspa |
Six coins, four groups.
What does “multi-currency” mean?
It means mining several coins instead of one. If something changes on one network, it affects only part of HashNet’s operation, not all of it.
What does the Alpha Engine do?
The Alpha Engine is HashNet’s own software. It watches conditions on all six coins and, within each group, moves machines to whichever coin is most efficient to mine at that moment. HashNet says the switch takes about 12 milliseconds.
Do people still run things?
Yes. HashNet’s engineers set the rules the software must follow, watch how it behaves and can step in at any time.
How do customers get paid?
Whatever coin is mined, HashNet converts it to Bitcoin and sends it to customers’ own wallets every eight hours.
What does “on-chain” mean?
It means the payment is recorded on a public blockchain. Anyone can look up a payout address on a website called a block explorer and see the payments arrive. HashNet’s founder, Ian Issa, built the company around this idea: customers should be able to check payment for themselves.
Who is behind HashNet?
HashNet was founded by Ian Issa in 2022. It operates through HashNet Infrastructure LLC, which is licensed in the UAE, issues an invoice for every purchase and works with licensed hosting partners.
The one-line summary
HashNet mines six coins with machines it switches automatically within each algorithm group, and pays customers in Bitcoin they can see arrive on a public blockchain.