Mining in the context of cryptocurrency refers to the process of searching for solutions to cryptographically difficult problems as a method of securing blocks on the blockchain. The process of mining creates new tokens as a reward. This reward is split between the miner for his efforts in creating the block, the masternode owners as reward for thier contribution to network stability and a contribution to the treasury to fund ongoing development of the project. Mining is possible on a range of hardware. mobit global implements an algorithm known as SKUNK, which the miner must solve in order to earn rewards.
The simplest and most general hardware available for mining is the general purpose CPU present in every computer. A CPU is designed to be versatile but offers less efficiency than a GPU, which is designed to rapidly calculate millions of vectors in parallel. While specific CPU instruction enhancements related to cryptography such as AES or AVX can provide a decent boost, GPUs offer a significant performance increase due to their multiple pipelines capable of processing the predictably repetitive calculations associated with cryptocurrency mining.
The profitability of mining is determined by the hashrate of your mining device, the current network difficulty and the costs of your hardware and electricity.
Although it is possible to generate new blocks on a single device mining solo, there is a higher likelihood of a collection of devices generating blocks. This is enabled through mining pools. A mining pool will act as a marshall and distribute the workload amongst the connected miners and distribute rewards in the ratio in which the miners have contributed to the generation of new blocks.
Most active mining pools are registered with Mining Pool Stats.