Mining is the process by which new cryptocurrency coins or tokens are generated and added to the existing circulating supply. It also involves securing the blockchain network and validating transactions. This method is most commonly associated with Bitcoin, the pioneer of cryptocurrencies, and operates on the Proof of Work (PoW) consensus mechanism. In a PoW system, miners compete to solve complex mathematical puzzles using their computational power. The first miner to solve the puzzle gets to add a new block to the blockchain and is rewarded with a specific amount of cryptocurrency. This reward is known as the " block reward ," and for Bitcoin, it also includes the transaction fees paid by users for each transaction included in the block. Mining requires significant investment in hardware, typically in the form of high-performance graphics processing units (GPUs) or application-specific integrated circuits (ASICs). It also consumes a substantial amount of electr...
Peer-to-peer lending, commonly known as P2P lending, has emerged as a disruptive force in the world of finance, revolutionising the way individuals and businesses borrow and lend money. This innovative form of lending bypasses traditional financial institutions, connecting borrowers directly with investors through online platforms. P2P lending provides a win-win scenario, offering borrowers access to funding with potentially lower interest rates and greater flexibility than traditional loans, while providing investors with an opportunity to earn attractive returns on their investments. By cutting out the middleman, P2P lending has opened up new avenues of financial inclusion and democratised the lending process. In this introductory guide to P2P lending, we will delve into how this lending model works, explore the benefits and risks for both borrowers and investors, and provide essential tips for those interested in participating in this burgeoning alternative in...