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 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 Capacity (PoC) Summary [Cryptocurrency consensus mechanisms]
Proof of Capacity (PoC) consensus algorithms require network participants to prove they have performed a certain amount of storage operations in order to mine a valid block. Where Proof of Work consensus requires users to prove they have performed computations in time (to guarantee a 10 minute space between Bitcoin blocks, for example), Proof of […]
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 […]
Proof of Authority (PoA) Summary [Cryptocurrency consensus mechanisms]
Proof of Authority is a consensus mechanism where members of a cryptocurrency network are identified and receive delegated powers to solve blocks. If they defraud the system their identity is at stake and they will either be prosecuted or booted from the network. This is a centralized system where a higher authority delegates mining powers […]
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.