Bitcoin is a cryptocurrency that’s gained wide popularity due to its wild price swings and is created through a process known as “mining.” Bitcoin mining is how new bitcoins get introduced into circulation. Continue reading What is Bitcoin mining and how does it work?
Category Archives: Mining
The use of blockchain tech should be more environmentally friendly
It is no longer news that the United States has restated its commitment toward lowering carbon emissions and taking an active part in the quest to normalize environmentally friendly measures on the global scene. This drastic shift in policymaking will spur the introduction and establishment of more stringent approaches to climate change. Undoubtedly, the reentering of the United States in the climate change conversation is indicative of the seriousness of this crisis and the drastic decisions countries would likely make to meet the environmental goals set in Paris, known as the Paris Agreement. Continue reading The use of blockchain tech should be more environmentally friendly
Bitcoin’s Difficulty Falls As Miners Capitulate
On Monday, bitcoin’s mining difficulty adjusted itself down by 7%, making it easier for miners to solve algorithms, and thus mine blocks. As to why this occurred, it appears to be in conjunction with bitcoin’s recent price drop. Mining difficulty is set to reconfigure itself every 2016 blocks, or roughly every two weeks. Difficulty modulates based on how long it took for miners to discover the previous 2016 blocks. If it takes longer than two weeks, the difficulty is tuned down, and vice versa. Continue reading Bitcoin’s Difficulty Falls As Miners Capitulate