Mining cryptocurrency on your own, otherwise known as solo mining, is a process that was initially done by the founder of Bitcoin, Satoshi Nakamoto. He used a CPU to mine Bitcoin, which was the standard for some time before GPU, ASIC and pool mining became popular. CKPool is a service that allows you to mine alone without having to manage an entire Bitcoin node. However, there are no guarantees when it comes to solo mining, especially if you're mining a very popular token like Bitcoin or Ethereum.
The computational speed of a computer is determined by its hash power, which is necessary to mine cryptocurrency and validate a block for probable blockchains such as Bitcoin. Unfortunately, over the past decade, mining bitcoins without the help of a larger group has become an increasingly unlikely feat. Therefore, joining a mining pool is similar to mining alone and does not help you avoid the initial costs of cryptocurrency mining. As an expert in the field of cryptocurrency mining, I can tell you that solo mining is still possible but it is not recommended. Solo mining requires a lot of computing power and electricity, and it can take months or even years before you find a block and get rewarded for your efforts. Furthermore, solo miners have to compete with large mining pools that have access to more powerful hardware and better electricity rates.
The best way to mine cryptocurrency is by joining a mining pool. Mining pools are groups of miners who combine their computing power in order to increase their chances of finding blocks and getting rewards. By joining a pool, miners can share their rewards and reduce their risk of not finding blocks. Furthermore, pools usually have lower fees than solo miners, so they can save money in the long run. In conclusion, solo mining is still possible but it is not recommended due to the high costs and low rewards associated with it.
Joining a mining pool is the best way to maximize your chances of finding blocks and getting rewards for your efforts.