• How to avoid miner fees

    How to avoid miner fees
    Cryptocurrency users are all too familiar with the dreaded miner fees. These fees, also called GAS fees, are necessary to incentivize miners to include transactions in a block, and they can often be quite high. This is because miners are responsible for verifying and confirming transactions on the blockchain. While most transactions are processed quickly, sometimes miner fees can add up, resulting in higher costs for...
  • What Is Proof of Work (PoW)?

    What Is Proof of Work (PoW)?
    Proof of work is a consensus algorithm that is used in many different cryptocurrencies, including Bitcoin and Ethereum. It differes from Proof of Stake. Proof of work is a system that allows nodes in a blockchain network to agree on the order of transactions. It is also used to create new blocks and secure the network. Understanding Proof of Work In order to understand...
  • What is an ASIC miner?

    What is an ASIC miner?
    What is an ASIC miner? April 22, 2022 ASIC miners are devices that are used to mine cryptocurrencies. Meaning a “Application-specific integrated circuit”, the underlying ASIC chip is designed for a singular purpose, to “mine” cryptocurrency. ASIC miners are specifically designed for this task and offer much better performance than GPUs or CPUs. Originally developed in 2012 to mine bitcoin, ASIC miners have since developed to...
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