Blog Archives

ASIC-Resistant

ASIC-resistance refers to a cryptocurrency that is “immune” to ASIC mining. ASICs are integrated circuits that are created to serve a specific use case–performing a particular computing task. In the world of cryptocurrencies, ASIC devices are designed to participate in the process of mining Bitcoin (or other cryptocurrencies). As such, Bitcoin is an example of a cryptocurrency that cannot be considered ASIC-resistant. In fact, any coin that utilizes BTC’s SHA256

What is Proof of Stake (PoS)?

Proof of Stake (PoS) is a consensus mechanism in which block validators are selected based on the number of coins they are staking. In this case, the term staking refers to the act of validators committing funds to the system. So validators can only participate in the process of producing new blocks if they lock their coins. The locked funds will then act as collateral, meaning that malicious validators will

What is a Staking Pool?

A staking pool allows multiple stakeholders (or bagholders) to combine their computational resources as a way to increase their chances of being rewarded. In other words, they unite their staking power in the process of verifying and validating new blocks, so they have a higher probability of earning the block rewards. The overall idea of the staking pool model is quite similar to the traditional mining pool, which involves the

Recent Comments

Archives

Categories

Meta