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Browsing Concept: Mining

Mining is the collective and decentralized effort performed by network participants in order to verify cryptocurrency transactions. Participants receive a reward for their work, which serves as an incentive for mining activity.

Browsing 4 results under Mining

ELI5: What was Honeyminer?
Honeyminer was an automatic multiple coin mining program that pays users to use their spare computing power. Honeyminer leveraged a variation of the concept of micro mining, w...

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: 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 B...

ELI5 What is cryptocurrency mining?
Mining is the process by which cryptocurrency transactions get verified. The process got its name from the fact that once a block is verified, whoever solved it will earns som...

Concepts In This Page

Micro Mining - Micro Mining is a kind of cryptocurrency mining where network participants each contribute a tiny amount of work into the mining process, receiving micro rewards against their efforts. Typically used by tiny devices or users which do not wish to invest into a dedicated mining setup (such as mining using CPU spare time).
Mining - Mining is the collective and decentralized effort performed by network participants in order to verify cryptocurrency transactions. Participants receive a reward for their work, which serves as an incentive for mining activity.
IoT - IoT stands for Internet of Things - a concept where large numbers of small devices are connected to the internet in order to exchange information.
IoTW - IoTW is a Proof of Assignment (PoA) based blockchain aimed at IoT solutions
CPU Mining - The process of mining cryptocurrencies using a general-purpose computer CPU. Today most PoW mining is performed by either dedicated ASIC chips or GPU cards.

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