Mining

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...

Jim Messina – one of Barack Obama’s closest advisers during his presidency reign in the USA – has taken an executive role at the popular cryptocurrency platform – BlockhainCom. The veteran politician is responsible for the firm’s government relations and policy strategy. Another American official who transitioned to the world of crypto is Brian Brooks. The former Acting Comptroller of the Currency in the US is currently the CEO of the bitcoin mining firm Bitfury Group....

[PRESS RELEASE – Please Read Disclaimer] At 06:43 (UTC) on Sept. 15, 2022, Ethereum completed its merge at the block height of 15,537,393 and officially switched to the proof-of-stake consensus mechanism. From then on, Ethereum bid farewell to the seven-year proof-of-work (PoW) mining era. At the same time, Ethereum had officially hard forked from Ethereum, retaining the PoW consensus. As the network token ETHW of the Ethereum forked chain, it has been actively opened for...

With so many people worried about how much energy is utilized by mainstream cryptocurrencies, it’s strange that more individuals don’t turn their attention to TRON, one of ETH’s biggest competitors. Is TRON the Ultimate Energy Saver? There are many arguments surrounding the amount of energy use in the crypto space. It appears bitcoin mining uses more energy than many developing countries (there have been countless reports published on this issue), for example. People...

The world of bitcoin mining has taken some serious blows, and it doesn’t look like the space is going to be recovering anytime soon. With prices falling to such drastic lows, it appears that many miners are either having to leave the space altogether or take drastic measures to ensure their money stays in place, as is the situation with firms like Stronghold Digital Mining. Stronghold Digital Had Too Much Debt As one of the biggest and most stable digital currency mining...

Greenpeace USA – an environmental advocacy group – is calling out Bitcoin for having what it calls an “outdated and efficient” code system.  In a tweet on Thursday, the organization doubled down on claims that Bitcoin’s proof of work mechanism is contributing to the climate crisis. Instead, it suggested that the code be swapped out for a less energy-intensive mechanism like proof of stake.  Campaigning Against Mining The advocacy group’s statements were in response to...

Arthur Hayes – the co-founder and former CEO of one of the most popular cryptocurrency derivatives exchanges (BitMEX) – has laid out some thoughts on Ethereum’s Merge. In a recent tweet, Hayes argued that the only thing that matters (price-wise, seemingly), for ETH after the Merge is its net issuance. To those unaware, Ethereum’s transition from proof-of-work to proof-of-stake introduced a dramatic shift in the cryptocurrency’s issuance model. The summarized calculations of...

Poolin, the embattled crypto mining pool service provider, will offer freshly-minted IOU tokens to its users whose assets are frozen after the platform suspended withdrawals last week. The distribution of IOU tokens will be made today, the 15th of September. Poolin’s IOU Tokens The IOUs will be minted under the ERC-20 protocol on Ethereum, the China-based company said in an official statement on its website.   “The team has come up with the IOU-tokens scheme to minimize the...

While Ethereum’s long-anticipated Merge seems to have hardly dented its price at the time of the upgrade, one of its speculative offshoots experienced a storm of volatility.  Ethereum PoW (ETHW) – an Ethereum hard fork backed by a group of Ethereum miners – soared in value during the upgrade. However, it tanked to all-time lows just hours later.  The ETHW Rollercoaster According to live price data from CoinGecko, ETHW rallied from roughly $30 at 21:30 UST on Wednesday to...

Die Energiekrise hat auch den Cryptomarkt erreicht. Gerade das Crypto Mining verschlingt viel Energie, die in der aktuellen politischen Lage teuer geworden ist. Doch trotz steigender Kosten hat die Bitcoin-Hashrate nun ein neues Allzeithoch erreicht. Bitcoin News: Bitcoin Hashrate auf Allzeithoch trotz EnergiekriseMit 6,28 Blocks pro Stunde ist die Hashrate in den vergangenen 7 Tagen auf einen Wert gestiegen, der bisher unerreicht war. Die Belohnungen für die Miner waren gestiegen, so dass es...