The Currency Analytics
By Ayobami Abiola
Cryptocurrency Mining
ASIC miners
Bitcoin Mining Centralization
Solutions to Mining Centralization
DigiByte's Superpower
PoS: I/O Coin and Its Superpower
Are Lists Exhausted?
Cryptocurrency mining is at the core of blockchain technology. Mining opens up the process of confirming new transactions and the creation of new coins.
Application-Specific Integrated Circuits (ASIC) miners are the commonest mining hardware used to mine Bitcoins today.
Facts have also revealed that the most Bitcoin mining Hash power is coming from China as most of the largest mining pools are located there.
Many cryptocurrencies nowadays through innovative implementations are looking for a way out for these loopholes.
Digibyte, for example, has created a mining algorithm that solves the basic challenge of having whales or the rich control the mining operation.
Another basic superpower of Digibyte Blockchain is a very supportive community as Jared Tate said in a tweet:
Josiah Spackman, a writer and strong supporter of the community, also confirmed this truth in his article about what got him interested in Digibyte.
Apart from proof of work algorithms as in Digibyte, there are other implementations on Proof of Stake algorithm that are looking into solving mining centralization.