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What is Ethereum mining?

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What is Ethereum Mining?

Mining is a process which involves some computational intensive work which requires a lot of processing time and power. Basically, mining is the act of joining a given peer distributed digital currency network in consensus. Then miners get rewards for providing solutions to challenging mathematical problems. The process of mining is to put the hardware of computer system to use with mining applications.

All related info on digital currency transactions surely embedded in data blocks. Each data block attached internally to many other blocks. This produces the “Blockchain”. All these blocks had better be analyzed as fast as possible to make sure a smooth proceeding of transactions on the platform. The miners come in when the issuers of such digital currencies do not have the capabilities to handle the processing.

Who is a Miner and What is The Purpose of Ethereum Mining?

A miner is an investor which devotes time, computer hardware and space, and also energy to sorting through blocks. At the time when the mining process hit the required harsh, miners will submit the solutions of the mathematical problems to the issuers. After the verification, the issuers of the currency give rewards which are some portions of transactions they helped in verifying. They also give the digital currency in exchange for the miner’s work.  Digital mining must take place to upsurge the circulation of digital currency.

What Are The Basics of Ethereum Mining:

The same thing used for Ethereum. The best way to practice Ethereum is to get it through mining. However, mining Ethereum means much more than increasing the capacity of Ether in circulation. Since, it is also important for securing Ethereum network as it produces, confirms, publishes, and propagate the blocks in the Blockchain.

The process of Ethereum mining is to mine Ether. Mining Ethers uses a lot of electricity. If miners perform mining activities professionally, the more income they can generate through the sale of Ether. There are also Ethereum calculators available which calculate profits.

You can use any personal computer systems to mine Ethereum, required a graphics card(GPU) with a Ram at least of 2 Gb. Central Processing Unit (CPU)mining is just an exercise in frustration. It takes a longer period of time to complete, and the profits are just thanks to the cost. When it comes to mine Ether the GPUs are the best bet as they are standing 200 times faster than CPUs.

 

Tags: bitcoin vs other cryptocurrencies

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What Are the Advantages and Disadvantages of Bitcoins?

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Advantages and Disadvantages of Bitcoins

Bitcoin has taken the market by storm and the number of people looking to make transactions through this currency is increasing each day. If you are one of those fascinated by this mysterious yet amazing currency and want to discover its advantages and disadvantages, you have come to the perfect place. This article will provide you with all the information about advantages and disadvantages of bitcoins.

So, let’s get started with knowing what are the pros and cons that come with this currency.

Advantages of Bitcoin:

The list of basic benefits of Bitcoin includes:

  • With bitcoins, there are no boundaries on transactions. The users can send the currency anywhere in the world at any given time without any hassle.
  • Bitcoin transactions don’t need rescheduling in the event of bank holidays.
  • The users are in complete control of their money as there is no central authority to regulate the Bitcoin flow.
  • Since the users are in complete control of the currency, it allows them to control the transactions as well which helps in keeping the Bitcoin network safe.
  • There is no way for merchants to charge extra fees without it coming into the notice of users. In case a merchant wants to charge extra fees, he must inform the consumer about those charges.
  • Bitcoin payments can be finalized without a user having to give away his information. This gives Bitcoin users complete anonymity.
  • The fact that Bitcoin users are not supposed to reveal their identity is extremely handy as it provides protection against identity theft.
  • Bitcoins can be encrypted and backed up to ensure the safety of your money.
  • All Bitcoin transactions are recorded in a public ledger called Blockchain which enables everyone to see those transactions. This makes the transaction process more predictable and transparent.
  • Personal information of users is always hidden and no one can access it unless a user decides to publicize it.
  • Bitcoin is cryptographically secure and can never be influenced by a government, bank or a third person.
  • Bitcoin payments involve very low fees, that too within Bitcoin system.
  • How much fee is charged on a transaction depends on the urgency level of a user. The faster he wants it to process, the more priority it gets. As a result, the fees become higher.
  • In countries like China where moving cash to other countries is prohibited, Bitcoin is a great way to transfer money to different parts of the world.

These are some major advantages of Bitcoin. Now let’s move to the next part of the article, which discusses the disadvantages of Bitcoin.

What Are The Disadvantages Of Bitcoin?

The list of basic disadvantages of Bitcoin includes:

  • Bitcoins are finite, which makes them extremely volatile.
  • A very small portion of the business is willing to accept Bitcoin as a method of payment.
  • It needs strong networking to spread the word on bitcoin.
  • Bitcoin is relatively new and most of its features are incomplete.
  • There is still a long way to go before Bitcoin gets to its full potential.

Conclusion:

These are some advantages and disadvantages of Bitcoin. The cryptocurrency has many unique advantages that traditional currencies lack; however, it also has disadvantages. Mainly due to the fact that Bitcoin is relatively new and will take the time to reach to its full potential.

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A Blockchain Based Real Estate Platform Goes Live In The US

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ShelterZoom, an Ethereum blockchain-based online platform for the real estate, has gone live in the U.S., with worldwide markets to go live in the first quarter of 2018.

New York City-based Cyrus Charter, the first customer on the platform, is in the midst of an initial test for the ShelterZoom stage that started in November. What’s more, 10 clients have started a beta test. The organization recently announced its first WordPress real estate theme affiliate, Estalik, and its first Australian organization, Arena Property Agents.

ShelterZoom is intended to streamline the way toward making and accepting real estate sales offers, decreasing printed material and enhancing the transparency of purchasing and selling. The framework has been worked to the Real Estate Standards Organization principles.

The ShelterZoom online incorporates a dashboard, the Offer NOW gadget, and a portable application which is accessible on Google Play and iTunes, empowering buyers and specialists to instantly submit offers from online real estate listings with only a couple of clicks or taps.

Sign Ups Are Being Accepted:

The site is now allowing sign-ups for the Offer NOW gadget, which can be coordinated with any affiliate site including real estate listings with a couple of lines of code, at no cost to the sign-ups before Jan. 31, 2018.

ShelterZoom charges $8 for each offer submission following the free beta timeframe finishing by Feb. 28, 2018.

“ShelterZoom is well positioned to bring the whole real estate industry onto it,” said Chao Cheng-Shorland, prime supporter, and executive. The gadgets can be received by any real estate site. Cheng-Shorland drives the multi-national team alongside fellow benefactor and chief Amir Allen Alishahi.

“Standardized, straightforward, and secure offers are the eventual fate of the business,” Cheng-Shorland included.

Versatile Dashboard:

Clients can track, accept, reject or counter offers progressively, while purchasers and operators can track offer statuses on their ShelterZoom dashboards. All parties to an exchange can get push or text notifications all through the procedure and chat with each other.

“We will see quick adoption of blockchain technology by commercial centers, associations, and whole enterprises,” said Sergey Fradkov, ShelterZoom technical advisor. “Blockchain and related digital money usage will empower new plans of action and streamline collaborations between members. They will likewise empower new members to rapidly build up themselves in the business fragments and create numerous new business opportunities.”

Canada, Australia, Europe, and countries in the Middle East are set to go live on the platform in the first quarter of 2018.

Story credits: ccn.com

Image: Google images

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10 Reasons Bitcoin Price will Destroy All Time Highs in 2017

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