See Also
ELI5: Why can’t Bitcoin miners use regular computers?
This is a frequently asked, but still very relevant, question in the world of cryptocurrencies. There seems to be a permanent, and very heated, debate involving the future of Bitcoin and one way or another, the discussion always turns to “Satoshi’s original vision”. What was his original vision? Is it the Bitcoin we use today? […]
ELI5 How AVAX validation works [Avalanche Protocol]
According to the Avalanche AVAX token distribution policy, almost 50% of all AVAX in existence will go towards validator rewards (see chart at the top). Since the Avalanche protocol burns all fees, the only source of inflation in the AVAX ecosystem is the validation reward. This presents a great opportunity for those who join the […]
ELI5 Proof of Stake (PoS) – How does PoS work?
In the cryptocurrency universe, Proof of Stake (PoS) is one of the most popular alternatives to the Proof of Work (PoW) family of consensus mechanisms. While PoW systems invest large amounts of energy to make sure transactions are legit, PoS does not require mining hardware. Proof of Stake “miners” (stakers) must lock a financial stake […]
Who is Genesis Mining?
Genesis Mining is a cryptocurrency mining company founded in 2013. The company runs the Enigma mining farm in Iceland (since 2014) and the Thor mining farm in Sweden (since 2018). The business model is to sell hash rate by the TeraHash unit. Since March 2020, Genesis is no longer onboarding new customers. Only existing customers […]