ELI5 : How to mine NEO
Many cryptocurrency newbies ask us how to mine NEO.
This is a recurring question, so we decided to write a short post to clarify how to properly obtain NEO cryptocurrency.
Bitcoin Gold: Bitcoin reaches block 491407
Block 491407 has been reached, marking the last checkpoint for the launch of Bitcoin Gold.
Snapshot time! pic.twitter.com/3nt2a1PDQK— Bitcoin Gold (@bitcoingold) October 24, ...
ELI5 What is an Antminer?
Antminers are dedicated cryptocurrency mining machines developed and produced in mainland China by Bitmain.
The original Satoshi Nakamoto Bitcoin client used to mine Bitcoins u...
ELI5 What was Oasis Mining?
Oasis Mining was an initiative by former crew from OALend Coin (OACCOIN).
The core business idea was to raise money via crowdfunding (ICO) in order to produce cryptocurrency mi...
Does cloud mining make financial sense?
Remember the Old West, when naive speculators often bought maps to gold mines hoping for quick riches?
Today, the basic question cowboys used to ask themselves still makes sens...
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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 […]
Proof of Location (PoL) Summary [Cryptocurrency consensus mechanisms]
In a Proof of Location consensus algorithm, users’ geospatial coordinates are accounted for as proof of value. This kind of algorithm is usually employed in cryptocurrency geomining systems. In a geomining application, users earn rewards for being at a certain place at a certain time. If, for example, a company wished to gather participants for […]
Proof of Burn (PoB) Summary [Cryptocurrency consensus mechanisms]
In the Proof of Burn (PoB) consensus mechanism, miners earn the right to mint the next block by burning some value in the blockchain. All proof systems are based on the principle that minting a block must incurr in some cost, otherwise fraudsters could inject invalid transactions into the blockchain. Bitcoin achieves this by making […]
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 […]
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.