Mining

Cryptocurrency mining remains profitable. However, it has come under significant scrutiny in the past few months. Things took a turn for the worse when the Chinese government hit mining. Beijing cracked down on mining this year by continuing its hardline stance on the crypto industry. A Long Way Here The nuances between China and mining are pretty interesting. For years, Beijing has made it clear that cryptocurrencies aren’t welcome in the country. First, it released a circular in 2017 confirming…

Blockchain technology is a robust network designed to ensure that cryptocurrencies/ digital currencies remain reliable and serve their inception purpose. Therefore, learning about blockchain and cryptographic processes is fascinating to technology enthusiasts and beginner investors. Generally, cryptocurrencies are released in the blockchain through a process called mining. Although mining adds the blocks onto the chains, a preceding validation process streamlines everything for mining. So what are validation and mining? What differentiates the two? Keep reading to understand the way new…

Data mining is crucial in ascertaining the integrity of transactions on the blockchain. Apart from allowing for transaction verification, it prevents double-spending by arresting fraudulent activity. The market is awash with crypto mining algorithms; each of them is fighting for market share, and like any other, the Scrypt mining algorithm is among them. So what is Scrypt? What are its advantages and practical applications? Join us as we dissect this topic. First, though, let us briefly define it. Scrypt is a…

Dogecoin was a joke created by Jackson Palmer and Billy Marcus in 2013. It was meant to mock altcoin by turning the internet doge meme into a cryptocurrency. Dogecoin's value was significantly low, but Elon Musk, Tesla's founder, tweeted about the cryptocurrency and the tweet went viral. It led to Dogecoin's value going up by 18.5% in less than an hour from $0.003052 to $0.003433. He has also replied to a sarcastic tweet, saying that he only sells Doge.  He has…

Crypto Mining, as we all know, is an expensive investment. For instance, to start mining Bitcoin, you first have to invest in top-end mining rigs and make sure the electricity around your place is cheap, store it in a cool place then connect it to a mining pool. Mining Bitcoin on a smartphone is completely out of the question. However, it is more or less similar to Monero and other top mineable coins out there. But wait, what was the recent…

Since the inception of blockchain technology, the world has been introduced to several terms that not many people may know. Similarly, blockchain transactions include fees that may confuse the typical crypto user.  Mining rewards, transaction fees, and staking rewards are three of the most critical charges to successful transactions on a blockchain. Unfortunately, it is not unusual for users to confuse these three terms and mistake one for the other. So, what are mining rewards, transaction fees, and staking rewards?…

Multitudes are buying into the use of blockchain technology and cryptocurrencies over time. Unfortunately, miners usually get a harder time competing with other miners to get the chance to add a block to the chain. However, technology evolution ensures something for everyone while reducing piling congestion in primary blockchains. The issues brought about the introduction of sidechains to increase the functionality of the primary chains. The development of sidechains is making the concept of merged mining popular. Merged mining, also…

May 11, 2020, was a big event for Bitcoin miners. The third halving transitioned, cutting the supply of bitcoin in half, from 12.5 to 6.25 BTC every ten minutes for every mined block. But what exactly is mining? It is a universal term associated with the Bitcoin network and many other cryptocurrencies. Yet many explanations go only as far as indicating the importance of processing transactions, securing the network, and making transactions near-instant. This guide lets you understand what happens…

From pool mining to solo mining and cloud mining, there are many ways of obtaining Bitcoin. Well, going on point, cloud mining is a form of bitcoin mining that employs a remote data center with shared processing power to allow users to mine bitcoins or alternative cryptocurrencies without owning or managing mining hardware. In such an arrangement, users must register on the platform and purchase mining contracts or shares with the mining company running and maintaining mining rigs. Crypto mining…