ELI5 What is a premined cryptocurrency?
If you're a beginner and you've been following some of the cryptocurrency debates on social media, then you may have encountered something like this:
CRV is getting premined an...
ELI5: Cryptocurrency Micro Mining
Micro mining is a cryptocurrency mining modality where large quantities of small, and low computing power, devices perform the mining work.
The idea stemmed from concepts relat...
ELI5 What is Honeyminer?
Honeyminer is an automatic multiple coin mining program that pays users to use their spare computing power.
Honeyminer leverages a variation of the concept of micro mining, wh...
We are 100% ad and tracker free. Support us by donating to X-avax1rlsj0xgvu85awrvkvjlvlqq37q8hmaq2rsraxz. Thank you! ❤
Proof of Activity (PoA) Summary [Cryptocurrency consensus mechanisms]
Proof of Activity (PoA) is a cryptocurrency consensus mechanism which combines Proof of Work (PoW) and Proof of State (PoW) into a hybrid mining system. In a PoA system, validators begin by applying a Proof of Work stage to block headers until they find a desirable hash. The block headers are then passed onto a […]
Proof of Trust (PoT) Summary [Cryptocurrency consensus mechanisms]
In a Proof of Trust system, users in a network gain trust as they participate in special activities within the network. If a user tries to defraud the system, the trust is lost and they lose an equivalent amount in value (the cryptocurrency or token employed). In a Proof of Trust system, “trust” is staked […]
Proof of Elapsed Time (POET) Summary [Cryptocurrency consensus mechanisms]
In this poetically named consensus mechanism, network participants prove that they have slept for a random amount of time before being able to mint a block. POET was released by Intel in 2016 and was originally aimed at trusted computing using Intel CPU’s. A special instruction set called Software Guard Extensions (SGX) allows programs to […]
Building the Haskell cardano-node on Linux
tl;dr; Jump straight to the build instructions The Details Looking forward to the Haskell mainnet, the next step in the Cardano project, I’ve begun exploring the cardano-node Haskell implementation. I find that exploring source code is much easier if you actually watch the program run for a while. So, the first thing a developer has […]
Concepts In This Page
A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it's the process which allows for everyone to agree on everyone else's money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
Proof of Stake
Proof of Stake is a consensus mechanism in which block verifiers prove their commitment to the network by staking their coins instead of by proving they performed some work (contrast with Proof of Work).
Staking is the process by which users delegate their Proof of Stake voting rights to a staking pool. The pool then verifies transactions on the users' behalf and, similarly to mining pools, share some of the profits back with the stakers.
Passive Income refers to obtaining financial returns without requiring work by the investor. In cryptocurrencies, investors usually seek passive income by Staking, lending or via DeFi.
Cryptocurrencies have sparked renewed interest in the search for sustainable energy sources, including hydro mining and solar power.
Hydromining is the practice of using water to generate electrical energy required for cryptocurrency mining.
Pre-mined cryptocurrencies are coins which have a significant amount mined by the founders before being released to the public.
Pre-mining is the practice of mining cryptocurrencies at a very low difficulty, before releasing the coin to the public.
Cardano is a 3rd generation cryptocurrency which is developed based on scientific methods, peer review and aims for formal verification and on-chain governance and compliance.