Understanding cryptocurrencies can be complex, but information is abundantly shared across the internet. To get you started on your Crypto journey, we are sharing information on the basic of popular cryptocurrencies our miners could mine.
The origin of ETC(E-coin) was issued in Germany, which is one of the most mature and developed countries in world trade, and also the first country to recognize and use virtual currency (Bitcoin). In the future, the prevalence of global virtual currencies has become an inevitable trend, with Germany taking the lead in recognizing the legal status of Bitcoin and timely launching the global plan for ETC. Now, global economic integration has become an inevitable trend, and the barter industry will gradually extend to every corner of the world. Therefore, ETC was born under this inevitable development trend.
Ethereum, at its core, is a decentralized global software platform powered by blockchain that establishes peer-to-peer network to securely execute and verify application code called smart contracts. Smart Contracts allow participants to make transactions with one another without a trusted central authority. Created by Vitalik Buterin as an answer for Bitcoin, Ethereum’s white paper was released in 2013. Ether, or ETH, is the cryptocurrency that allows purchases to be made online; similar to Bitcoin’s functions, although different goals, features, and even technology. Ethereum’s blockchain network is powered by the Ether token, enabling users to make transactions, earn interest on their holdings through staking, store NFTs, trade crypto, and even play games.
On September 15th, 2022, at block 15537393, The Merge was completed, moving Ethereum from a Proof of Work (PoW) to Proof of Stake (PoS) system. The Merge upgrades Ethereum’s Maine with the Beacon Chain Pool of Stake System. The upgrade improves sustainability of Ethereum by lowering energy consumption, and improved scalability, security, and sustainability.
Bitcoin was originally conceptualized in a 2008 white paper by a person using the alias Satoshi Nakamoto. It was launched soon after, in January of 2009 as a peer-to-peer online currency, allowing transactions to be made directly between independent network participants. The importance of this creation was that it allowed these transactions without the need for any intermediary to facilitate these transactions. According to Nakamoto’s own words, this creation was released as a way to allow “online payments to be sent directly from one party to another without going through a financial institution.”
In 2011, Bitcoin broke $1, and in 2013, it broke $1000 before falling and stalling out in 2014. After 2016, it continued to climb.