Crypto Mining

Bitcoin halving will happen on May 12 and there are many perceptions and forecasts regarding its effect on the cryptocurrency space. The event will affect miners. According to Johnson Xu, at research company TokenInsight, the event will ultimately eliminate every inefficient miner. While speaking with Decrypt, Xu noted that finding cheaper electricity is the means of keeping these energy-intensive machines profitable following the event. The halving event will reduce miners’ profit by fifty percent on Tuesday. That is, the revenue from…

Exiled Bitmain co-founder has moved to reinstate his position after recently gaining partial legal victory  This resulted in a physical brawl with current CFO Luyao Liu, leading to the intervention of local police The senior management tensions at Bitmain are hurting the mining giant ahead of 3rd Bitcoin halving On May 8, 2020, the ousted co-founder of Bitmain, Micree Ketuan Zhan, was reportedly surrounded by a group of 50-odd guys led by the company's former legal representative and CFO Luyao…

Digital currencies have come to stay and governments worldwide are finding means to adopt them for various reasons. Some are seeing digital currency transaction processing as an activity that is likely to pay off in the future. In recent times, Ukraine’s Ministry of Energy and Environment recommended the utilization of the excess power produced by nuclear power plants for processing digital currency in the country. Currently, there is production of excess energy by power plants in the country because COVID-19…

Miners play a critical role in a blockchain ecosystem. They trigger new coin mintings and approve and add verified information to each block on the network, thus securing the network further. As the first and most extensive blockchain network, Bitcoin has a highly competitive mining environment. With the May halvening around the corner, the rush to develop and get the best and latest mining hardware has already begun. While mining hardware manufacturers are issuing even more advanced hardware, miners are…

There has been a large recovery in Bitcoin network’s computing power following its second biggest fall in history. Coin Metrics revealed that the network’s total computing power (also called the hash rate) has returned to normal 2020 levels after a substantial decline in March 2020. The hash rate stands for the miners’ aggregate computing power on Bitcoin network. When the hash rate is high, it is a sign of more miners’ harder efforts towards finding new Bitcoin blocks, together with the sustenance…

Bitcoin's scalability and decentralization issues may soon be a thing of the past. Thanks to a new initiative bringing together Bitcoin and its mining community, the network is set for a significant reinvention. In a recent episode of the Crypto Conversation podcast, Marco Streng the Genesis Mining’s CEO emphasized the mining community’s role in Bitcoin's development. Again he delved on the place of innovation, for example, cloud-based mining operations in attaining Bitcoin's decentralization. Breaking  Decentralization Mr Streng maintains that cloud…

A recent report stated that Binance is preparing to roll out its crypto mining pool and already has professionals for the project. The launch will take place in the second quarter of 2020, according to the report. Changpeng Zhao, Binance CEO, confirmed the news on his Twitter account. Additionally, Zhao mentioned there are many other projects currently ongoing in the Binance ecosphere. Industry Players’ Views on the Initiative Binance’s move had many industry players share their ideas on the initiative.…

Crypto mining is the practice through which transactions are confirmed and added to a blockchain public ledger. It has always been one of the most attractive endeavors in Bitcoin. Crypto mining entails verifying transactions, which is time-consuming and computing power-intensive calculations. Miners then get rewarded for their efforts, usually with tokens of cryptocurrency. As much as the yield from mining might vary, for some, it has a greater appeal than buying bitcoins. Technologically, mining is a process that supports the…

Considered one of the most critical events in the Bitcoin community, the Bitcoin reward halving is the process by which the incentives available to miners decrease by half of what it currently is. Founder Satoshi Nakamoto implemented the Bitcoin Halving mechanism to incentivize the network and slowly distribute the 21 million currency supply. Historically, the Bitcoin reward halving has been known to be a prelude to a massive bull run. However, on 9 July 2016, the market saw a surprising turn of…