Cryptocurrency: Top 8 Women In Cryptocurrency

Cryptocurrency: Top 8 Women In Cryptocurrency

Cryptocurrency mining

A huge amount of computing power is required to operate the blockchain, verify the transactions and add more blocks to the chain. This process of unearthing fresh cryptocoin from the blockchain system is called mining.

Miners use energy guzzling mining rigs which are cluster of sophisticated hardware to put transactions into blocks, link blocks to the blockchain and secure the network against any sort of tampering.

In case of blockchain, the key to the operation of a distributed ledger is to ensure that the entire network collectively agrees with the contents of the digital ledger.

This is the job of the consensus mechanism. The purpose of a consensus mechanism is to verify the validity of the information that’s being added to the blockchain i.e. the network is in consensus.

There are a number of different consensus mechanisms available. The most popular consensus mechanism is The Proof of Work and The Proof of Stake systems.

Proof of Work (PoW) as the name suggests refers to the validation of the work that happened.  Bitcoin and many alt coins follow this means of consensus to ensure the authenticity of the chain.

In case of Proof of Stake, there is no mathematical puzzle to solve, instead, the creator of a new block is chosen in a deterministic way based on their stake i.e is how many coins or tokens one possesses.

Cryptocurrencies will almost always offer miners some kind of rewards to encourage people to maintain the blockchain. in maximum cases, this reward will often be newly created coins of the type that they just mined or transaction fees paid by everyone whose transaction was bundled into the newly-mined block.

Some coins will use proof of work or proof of stake, while others might switch between the two or use variations of either.

While researching about a coin, you must pay attention to the mining system because it can directly affect the coin prices.

For example, higher mining rewards may imply more inflation and a declining coin value.

Or news of an upcoming switch to proof of stake might shoot prices upwards as everyone starts buying coins to mine with after the switch.

Women In Cryptocurrency: Top 8 Women In Cryptocurrency

Here, we have a beautiful infographic on top 8 women in Cryptocurrency, developed by our friends at Mrbtc.org. This infographic speaks about the top 8 Crypto women achievements to this industry. Please check this infographic and share your thoughts.

crypto women
Courtesy of: MrBTC.org
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