FAQ Category: Mining

PoS is a type of “consensus algorithm” which defines who (which node on the blockchain) gets to validate and add the next group of transactions to the blockchain. PoS was proposed as an alternative to the...

SPECIFICALLY BITCOIN POW Before we get into the details of what PoW means, we will say that the following description is based on how PoW is designed for the bitcoin blockchain. PoW for other blockchains will be somewhat similar...

The “end” of cryptocurrency mining can cause some confusion. If we think of the specific currency “bitcoin”, and forks of bitcoin, then “mining” means more then just generating new bitcoins. Mining, for...

When deciding on the cryptocurrency to mine, one needs to take into consideration the mining difficulty of each coin, the processing power that will be required, and the cost of the energy that the mining computers will consume....

This is another question with a very complex question answer which we will attempt to simplify. Cryptocurrency mining is a computer process which uses special software and hardware to verify that a group of recent cryptocurrency...