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What is There to Know about 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.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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