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What is There to Know about Electroneum Mining

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Electroneum mining
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Electroneum is often considered to be among the newer coins, which is why information about it can be scarce. This also includes Electroneum mining, which is why we will explore this topic today.

Before we start with explaining Electroneum mining, a few words about the coin itself are in order.

About Electroneum

Electroneum (ETN) is a cryptocurrency that was created only last year, in 2017. It has come a long way since then, and it is currently ranked as 46th largest coin by market cap. Its current price is $0.0197 per coin, while its market cap is at $158 million.

Electroneum’s goal is to make cryptocurrencies available to everyone. This is one of the main reasons why Electroneum mining can be done via computer and mobile phone alike.

The process is also very simple, and it only requires a few clicks. Even so, the process of mining itself will likely seem pretty complicated for all those who are not exactly technical type.

Electroneum is based on another cryptocurrency — Monero. It also shares Monero’s views when it comes to privacy and security, which gives it a quality that not a lot of cryptocurrencies have — fungibility.

However, Electroneum also differs from Monero since Electroneum’s team tried to make it as easy to use as they possibly could. This is important, since the coin’s goal is, once again, to make it available to everyone.

Electroneum mining

Mining Electroneum is not as complicated as it is with a lot of other digital coins, and users with some prior knowledge about mining processes will likely agree. This was done on purpose since the team wanted to create a coin that will be easy to mine as well as to use.

Because of this, Electroneum uses a mining code that is resistant to ASIC, which is what makes it different from most other cryptocurrencies. ASICs are expensive computer chips that were created for the sole purpose, and in this case, that purpose is to mine cryptocurrencies. However, Electroneum doesn’t need them, and you can easily mine it even with a regular smartphone.

During Electroneum mining, miners receive rewards for validating transactions and “solving” blocks. Electroneum’s current reward includes 6,413.56 ETN ($136) per block.

Of course, if a miner is part of a mining pool, the reward gets split between users belonging to that specific pool. While anyone can win this reward, the process requires a lot of power.

The more of it the miner has, the bigger their chances for solving the block. In mining pools, this reward gets shared among all the pool members, regardless of which node actually solved the block.

Obviously, this means that there are two ways to mine Electroneum — solo mining, and mining as part of a pool.

When it comes to solo mining, it is only suitable for those with very high computing power. The advantages of solo mining are quite obvious — there are no pool-joining fees, no middleman, and you can get the entire reward. Additionally, pools can get hacked, and Electroneum mining pools were hacked in the past. As for disadvantages, the biggest one is that it requires time, and often a lot of it.

On the other hand, there is an option to mine a part of the pool. This is the best option for most miners since it gives them a portion of a reward with no need for special hardware, or even that much of computing power.

Users will simply combine their computing power with others until the block is solved. The size of the received reward depends on the amount of contributed computing power. That way, the process is simple and fair to everyone.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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