Crypto mining has been around since the first Bitcoin was mined back in 2009. It is a time-worn concept, as almost everyone with the basic knowledge of cryptocurrencies knows about it. Crypto mining is the process of gathering cryptocurrency as a reward for the work that you complete for a network. You gain crypto by solving complex cryptographic equations with the help of your computers. The process usually involves validating blocks of data and adding transaction records to a public ledger. Why is there a need to mine crypto and how it benefits the people? Crypto mining is a mandatory process as it introduces new coins into the existing circulating supply, and it is also one of the key elements that allow crypto to serve as a peer-to-peer decentralized network
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Crypto mining has been around since the first Bitcoin was mined back in 2009. It is a time-worn concept, as almost everyone with the basic knowledge of cryptocurrencies knows about it. Crypto mining is the process of gathering cryptocurrency as a reward for the work that you complete for a network. You gain crypto by solving complex cryptographic equations with the help of your computers. The process usually involves validating blocks of data and adding transaction records to a public ledger.
Why is there a need to mine crypto and how it benefits the people? Crypto mining is a mandatory process as it introduces new coins into the existing circulating supply, and it is also one of the key elements that allow crypto to serve as a peer-to-peer decentralized network without the need of a third party or central authority.
Crypto mining is very beneficial to people. Most people mine crypto for one of these two reasons. First, they want another source of income and secondly to gain financial freedom without the intervention of banks or the government. Crypto mining generates rewards for its users/miners and who don’t love rewards.
Creata chain is a network of interoperable blockchains that is based on Augusteum Consensus Core as its main consensus engine. Augusteum Consensus Core defines the Consensus layer of the blockchain as well as the Networking layer of the blockchain and gives faster transaction commitment and practical interoperability. The mining and validation process is very secure in the Creata chain due to its hybrid consensus. Augusteum Consensus Core relies on a set of validators that ensures the security of the network and maintains the consistency of the ledgers.
In the mining process, the nodes verify the transactions to form a list and then add blocks of data once they are verified by the miners. Creata chain has improved this process by dividing nodes into different types depending on the performance and the responsibility defined by the system for the nodes. This improved system gives each node additional rights to governance and equal opportunity distribution which in return promotes healthy competition and benefits the network and the node equally.
In the Creata chain network, the nodes are divided into four types. Full nodes are participatory nodes that store the entire blockchain’s state and help the network to reach consensus. Seed nodes provide a node with a list of peers that it can connect to, this enhances connections. Once the seed node has given the list of peers it disconnects from the node and won’t remain a peer node itself. Another important job that it performs is that it removes down nodes and as a result creates an environment of active nodes.
Sentry Nodes are security nodes that attach themselves to certain nodes and provide protection to these nodes. They exchange data on blocks, transactions, and voting activities with the validator and the rest of the network. They protect the nodes and network from attacks. Validators generate blocks to be added to the blockchain and carry out transactions. The validators are rewarded, and this adds to the staking of the network system.
In the Creata chain network, if a node wishes to become a validator, there are two ways to become one. First, the validator can be decided upon in the genesis state of the blockchain. Secondly, when the MSM Application makes changes to the existing validator set at the end of the blockchain message.
The Creata chain has its native token known as CTA or Creata Coin. It is designed for the Creata chain environment. It is an advanced token with various purposes. It has many pioneering features such as instant transactions, fast data validation and helps the Creata chain maintain the connection with other blockchains as it is the ultimate protective token.
The Creata chain network values its miners and gives them rewards according to the number of coins they have staked. Becoming a validator is very rewarding for miners. A person who has resources, computing power, and electricity can easily become a miner. Mining CTA gives you a chunk of the coin itself and as the value is bound to increase due to its increasing uses, one day it will be worth a lot of money.
Crypto mining is incredibly profitable and is thought to be a great investment. Data from coherent market insights indicate that the global crypto mining market is expected to surpass $38 billion by the end of 2025. So, why not invest in a network with a great growing potential or more excitingly become a part of this growing network by becoming a validator. A good investment choice made today can solve the potential problems of the future.
Website: CreataChain
Twitter: Creatachain (@creatachain) / Twitter
Medium: Creatachain – Medium
Telegram: https://t.me/creata_talk