This beginner’s guide explains cryptocurrency wallets, how they work, and why they matter for solo miners, aka “lottery” miners. You’ll learn about different wallet types—hot vs. cold, hardware vs. software, custodial vs. non-custodial—and explore a few real-world wallets like MetaMask, Coinbase Wallet, Ledger Nano X, and Trezor Model T. We’ll cover the pros and cons […]
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What are “valid” shares, how do they differ from “rejected” shares, and how can miners maximize the number of valid shares they achieve? What is a “Share” in Cryptocurrency Mining? In cryptocurrency mining, a “share” is earned each time your miner solves a portion of the complex mathematical problem that must be solved to validate […]
Bitaxe mining is becoming highly popular worldwide in the crypto industry. Though it has been only two short years since this tiny device was unveiled to the masses, the astounding success of this home miner is proof that one man’s innovation can change the world forever. The Bitaxe was invented in early 2023 by an […]
Network difficulty is the primary measure of how challenging it is to find a new block in a blockchain. The underlying principle of network difficulty is rooted in the proof-of-work (PoW) consensus algorithm, which requires miners to solve complex mathematical problems to validate transactions and create new blocks. The difficulty level adjusts periodically, typically every […]
Network difficulty is a fundamental concept in the realm of cryptocurrency mining, serving as a measure of how challenging it is to find a new block in a blockchain. This metric is crucial for maintaining the stability and security of a cryptocurrency network. Essentially, network difficulty adjusts the rate at which new blocks are added […]
Keep an eye on these five elements that are crucial to the proper functioning of your bitaxe, and your solo mining device will last you for years to come. 1: Dusting Dust accumulation is an insidious enemy of Bitcoin miners, often overlooked until it manifests as overheating or hardware failure. Regular dusting is essential for […]
Bitcoin, the first and most well-known cryptocurrency, was introduced in 2009 by an anonymous entity known as Satoshi Nakamoto. It operates on a decentralized network using blockchain technology, which is a distributed ledger that records all transactions across a network of computers. This innovative approach eliminates the need for intermediaries like banks, allowing users to […]