Crypto mining is a method used by Bitcoin (BTC) where miners solve complex mathematical encoded sequences using a computer. It is a process to add blocks of validated information to a chain of other similar blocks, hence the name, blockchain. Crypto staking, on the other hand, relies on validating through a different principle. It also allows users to earn passive income on their digital assets without having to sell them.
Avalanche (AVAX) uses a Proof-of-Stake consensus mechanism which it attributes to its “Blazingly fast, low cost & eco-friendly” service. Big Eyes Coin (BIG) is developed on the Ethereum (ETH) blockchain so is currently Proof-of-Work, however, the Ethereum 2.0 merge will see it switch to Proof-of-Stake.
Big Eyes Coin (BIG) benefits from Ethereum 2.0 merge
Big Eyes Coin (BIG) has started its journey to becoming the leading meme token in the market. It has the goal of protecting our oceans while moving money into the DeFi ecosystem.
Big Eyes Coin (BIG) is releasing 90% of its tokens to the public when it launches. Additionally, Big Eyes Coin (BIG) is on a mission to save the world’s ecosystem. Switching to crypto staking will be beneficial for the platform as crypto mining uses massive amounts of electricity. Maybe this is why Big Eyes Coin chose Ethereum, the merge should be in full effect when Big Eyes Coin launches.
The original Proof-of-Work platform – Bitcoin (BTC)
Bitcoin (BTC) was the first cryptocurrency to utilize blockchain technology. It was created in 2009 and exposed crypto mining to the whole world. It has solved the problem of transferring value in a decentralized and secure manner.
Bitcoin (BTC) rewards its miners for donating their computer systems for crypto mining, they compensate you for your troubles which helps miners make money. Mining in itself is also highly profitable. Crypto mining also helps keep the network trustworthy and secure.
Bitcoin (BTC) is currently experiencing a small positive trend. It has risen by nearly 5% in the past seven days at the time of writing. Demand is the main reason Bitcoin is increasing, and while demand is on the rise, it might be an ideal time to trade.
The fastest Proof-of-Stake platform – Avalanche (AVAX)
Avalanche (AVAX) uses the popular Proof-of-stake consensus algorithm. With the use of subnets, Avalanche can process an incredible amount of transactions per second. It is also energy efficient as it is CPU-Optimal, using around 90% less energy than Proof-of-Work platforms.
Avalanche (AVAX) is arguably the fastest smart contracts platform in the blockchain industry. The crypto staking platform also offers its users an alternative way to make passive income, staking. Staking locks up your tokens to support the network, and in return, you receive monetary compensation or increased network utility!
Avalanche (AVAX) has implemented NFTs, a decentralized exchange, and strong partnerships with Andretti Formula E to reach a whole new crowd. It has currently increased by 5.82% in seven days at the time of writing. The management team is good and the project is even better, Avalanche is destined to do well this year.
When it comes to crypto mining, it all depends on your setup. If you harness a solid setup, then mining could prove very beneficial for you as you are compensated by the software team as well as the crypto you mine.
However, crypto staking seems to be the way forward for most people. It is eco-friendly, low cost, and extremely fast. Big Eyes Coin (BIG) can take advantage of Ethereum’s (ETH) Proof-of-Stake platform when it launches this year. A strong community coupled with good service is a recipe for success in the crypto world, watch out for Big Eyes Coin.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.