Litecoin’s Mining Power Tanks to Lowest in Year Following Price Plunge

Technology

The new dynamic in the litecoin market offers a lesson in the emerging economics of the fast-growing cryptocurrency and blockchain industry, which relies on networks of computers to confirm and record transactions, using a combination of incentives. Key inputs include the speed and efficiency of the data-mining computers, local electricity costs and even the ambient temperature; cold climes are considered ideal because less power is needed to run cooling fans for the computers, which typically run 24 hours a day, seven days a week – that is, when it’s profitable to do so.  

Products You May Like

Articles You May Like

5 key things to know when you create a will and make other end-of-life plans
Euler Finance’s offer to hacker: Keep $20M or face the law
Price analysis 3/17: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB
Accounts to buy bonds from the government jumped fivefold as yields boomed
Op-ed: Be sure to ask these 5 questions before hiring a new financial advisor

Leave a Reply

Your email address will not be published. Required fields are marked *