Category: Investments

Cloud cryptocurrency mining – What is it and how does it work?

In 2017, due to the hype around virtual assets, the traditional method of mining digital currency gained popularity. This includes the use of computer hardware for cryptographic computing. But technology is expensive, not everyone can afford it. Therefore, it is important to understand what cloud mining is. This is how the rental of computing power is used for cryptocurrency mining. This means that adopting this approach does not require you to purchase mining equipment. Intermediaries hire a Hashrate.

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How to mine Ethereum on Ethash

The GPU is used for mining currencies in Ethereum, which is the second largest proof network by market value. Ethereum also has the largest blockchain developer community. Ethereum started working in 2015. This is an open source blockchain in which you can use decentralized applications and implement smart contracts. The Ethereum algorithm is called Ethash. It differs significantly from the BTC mining process.

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Binance crypto exchange will stop support of USDC, PaxDollar, TrueUSD

Cryptocurrency exchange Binance will end support for USDC stabelcoin and forcibly convert it to its own Binance_USD (#BUSD). On September 29, Binance will forcibly convert user assets from USD Coin to Binance USD. The same will happen with two smaller stabelcoins, PaxDollar and TrueUSD, which are also forcibly converted to the exchange’s Coin. This not only promises inconvenience to users, but major problems for Circle Internet Financial, which is the issuer of USDC and was planning to go for an IPO. After such actions, Binance may take the leading place in the market of stabelcoins and make its subordinate Binance USD the largest in terms of capitalization.

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