Mining Pools

Since its introduction in 2009 by Satoshi Nakamoto, Bitcoin has realized widespread adoption with substantial value growth. Bitcoin is currently the most prominent cryptocurrency in market capitalization with over 100 billion dollars. Its’ value has soared enormously since the launch despite several bearish runs that saw it lose value. Bitcoin relies on a highly replicated public ledger as a decentralized currency, secured utilizing a hash and validated via community consensus. On the Bitcoin network, a transaction is considered valid and…

Bitcoin’s third block reward halving was completed on May 11 at the 630,000th block and the spot price incurred awesome bullish and bearish pressures as the F2pool miners took the last block reward of 12.5 BTC. Following the halving, Bitcoin Cash and Bitcoin SV networks recorded serious declines and this led to widespread speculation regarding a similar trend for Bitcoin. Nevertheless, it seems Bitcoin’s network is stronger than its forks. BCH and BSV networks recorded a great decline in hash rate after their halving which happened on…

The growth of Bitcoin mining space has been exponential over the past years. When Bitcoin first emerged, mining depended on personal computers and GPUs. Currently, mining involves exceedingly well-organized mining pools that depend on cutting-edge ASIC miners. Due to the growth in scale of operations, people have been questioning the environmental cost involved in Bitcoin mining. Marco Streng of Genesis Mining talked about large-scale mining operations in the recent episode of the Untold Stories podcast. He discussed the environmental effects and the challenges related…

Miners play a critical role in a blockchain ecosystem. They trigger new coin mintings and approve and add verified information to each block on the network, thus securing the network further. As the first and most extensive blockchain network, Bitcoin has a highly competitive mining environment. With the May halvening around the corner, the rush to develop and get the best and latest mining hardware has already begun. While mining hardware manufacturers are issuing even more advanced hardware, miners are…

A recent report stated that Binance is preparing to roll out its crypto mining pool and already has professionals for the project. The launch will take place in the second quarter of 2020, according to the report. Changpeng Zhao, Binance CEO, confirmed the news on his Twitter account. Additionally, Zhao mentioned there are many other projects currently ongoing in the Binance ecosphere. Industry Players’ Views on the Initiative Binance’s move had many industry players share their ideas on the initiative.…

Crypto mining is the practice through which transactions are confirmed and added to a blockchain public ledger. It has always been one of the most attractive endeavors in Bitcoin. Crypto mining entails verifying transactions, which is time-consuming and computing power-intensive calculations. Miners then get rewarded for their efforts, usually with tokens of cryptocurrency. As much as the yield from mining might vary, for some, it has a greater appeal than buying bitcoins. Technologically, mining is a process that supports the…

Ethereum mining pools have removed thousands of mining platforms from the networks, reports from  March 20, 2020 indicate. The move aims at providing computational power to a coronavirus research project. Leading the initiative is CoreWeave, a U.S based miner operating on the ETH blockchain. The firm said that it would redirect its GPU computing power to Stanford University’s Folding@home. The project was launched on February 27, 2020, to advance research on the deadly Coronavirus. In a blog post, Folding@home  explained:…