On Monday November 11 not only the price of bitcoin (BTC) dipped. The mining difficulty of the most dominant cryptocurrency plummeted as well. In fact, after dropping 7% on Monday, the difficulty of the original cryptocurrency hit its lowest point since December 2018. So what is mining difficulty? For those who do not know, mining
Cryptocurrency and blockchain news platform The Daily Chain interviewed Alejandro De La Torre, Vice President of multi-currency mining pool Poolin, last month on the global impact of cryptocurrency mining. De La Torre expressed his opinion on several issues regarding the environment and centralization. Centralization of mining pools The Daily Chain addressed the view of critics
Have you ever been interested in joining a mining pool? These groups of miners that work together are growing in popularity and therefore it can be quite the challenge to pick one that suits you. What selection criteria should you be looking at? In this article we will briefly discuss some important things to consider.
If you ever looked into bitcoin mining and used Google as a starting point, there is a reasonable chance you stumbled upon the energy consumption of the Bitcoin network and therefore the energy consumption of bitcoin mining. Bitcoin critics have addressed the topic by comparing the energy consumption of bitcoin to the energy consumption of
If you are interested in cryptocurrency mining or are already mining cryptocurrency, you most likely know what a block is. For those who do not know, a block is part of the blockchain and holds a collection of transactions. These blocks are formed and added to the blockchain by miners, and with this a record
As we all know, bitcoin (BTC) mining uses a lot of electricity. While most miners still make profits with their mining installations, others have found innovative and interesting ways to leverage one of the byproducts of cryptocurrency mining: heat. But let us start with a cryptocurrency mining project that uses the sun to earn money.
“By working together with other bitcoin miners by joining a mining pool, you will increase your chances of earning some rewards for your efforts and spent resources. In other words, you will be able to stand a chance against the big players in the mining world. Joining forces is therefore not a bad idea at
Just a week ago we wrote about the hashrate of bitcoin setting new records. We were not alone because all the major online platforms widely reported the event. Later there was all sorts of press coverage regarding a flash crash of bitcoin’s hashrate. And indeed, on Monday, September 23rd, the hashrate did dip more than
We have another win for cryptocurrency miners! The hashrate, the computing power that is dedicated to the mining of bitcoin, has reached yet another high. According to data from BTC.com bitcoin’s two-week average hash rate has reached a whopping 85 exahashes per second (EH/s) last Friday. The data suggests that over 600.000 mining rigs have
From bitcoin (BTC) to ethereum (ETH), from waltonchain (WAN) to aion (AION); whether you are talking about a very popular cryptocurrency or a rather unknown one, they are all deeply rooted in mathematics. Mathematics that can be profitable if we are talking about cryptocurrency mining. As a result, the mining industry already grew massively in