Defining Hash Rate or Hash Power in Cryptocurrency

Hash rate or Hash power is the most important terminology in the blockchain technology. The data in the new block is stored as a hash. Due to the grave significance in cryptocurrency operation it is often described in the mining community.

It is often coined as the measure of miner’s performance. The speed at which miners solve the Bitcoin code. The attempt per second that the miners used to solve the complex mathematical puzzle is referred to as the hash rate or hash power.

In simpler terms hash operation done in a given time is coined as hash rate. In Past, the miner performance was measured on the basis of billions of hashes/s.

Hash rate is based on the number of time SHA – 256 hashes a string of data.

Profitability

Lower is the hash power more will be the opportunity of miners for mining. Higher will be the hash rate less profitable will be the mining.  Presently, the Bitcoin network is operating at 80,000,000 TH/s.

Measurement

Hash per second is commonly used in the measurement of the Hash rate. It represents SHA-256 algorithms performed per second. As SHA -256 takes a block of information and convert in the hash.

Commonly used Denominations of Hash Rate

1 GH/s equals one billion hashes per second.

1 TH/s equals one trillion hashes per second.

1 PH/s equals one quadrillion hashes per second.

1 EH/s equals one quintillion hashes per second.

Further,

1 KH/s equal one thousands of hashes per second.

1 MH/s equals one million hashes per second.

Number of Miners and Hash Rate

The difficulty of the mining increases with the number of miners in the network.

This is due to more computing power require which in turn increase the amount of electricity consumed.

Summary

Hash rate is vital in the cryptocurrency relaying in the proof of work (PoW) consensus mechanism. The computer is competing for the operation of the PoW network is coined as the hash rate. The lower the hash rate profitability to the miners. This is due to less use of computing power.

What is "HODL" Cryptocurrency World?

HODL of Hodl is simply the holding of the cryptocurrency. This is originated from the commonly used word ‘hold”.  This is true for Bitcoin and other currencies.

The strategy involved in the HOLD is to buy the cryptocurrency and hold it for a considerably longer period of time until it gets lucrative.

Usually in the forum, Reddit trend, Telegram groups and others online group use this terminology in communication.

The word HODL come into existence in the year 2013.

Some of the Common Jargon in Crypto World

Whale

This is a popular term in the crypto world. The whale refers to as the Bitcoin or other crypto wallets, which holds a considerable amount of crypto coin.

Usually, the larger volume of transection from the unknown wallet is a buzz in the crypto world. This has the ability to influence the price of a crypto coin.

BearWhale

A trader with a flat account and has the bearish trading price.

To The Moon

Price of Bitcoin will reach the all-time high.

Bullish          

This is referred to as the rise in the price of cryptocurrency and is suitable for investors.

Bear

Price of Crypto will fall in no time. It is not favorable for investors.

ADDY

The public address of Cryptocurrency is abbreviated as ADDY.

FOMO

This is generally referred to as the fear of missing out.

ATH

This is referred to as the all-time high. When the cryptocurrency break all the old record in price.

BAGHODLER           

The person holding cryptocurrency for a longer period of time and faces consequence of holding.

ALTCOIN      

All the coin other than Bitcoin is referred to as AlTCOIN.

REKT 

Investors are hit by the losses due to downfall in the price of crypto. Wrecked is misspelled as REKT.

FUD

This is commonly referred to as fear, uncertainty, and doubt. This is generally referred to as the uncertainty in investors.

CHOYNA

The country china is referred to as the CHOYNA. As China has huge impact in the SWING of cryptocurrency.

SWING

Upward and downward price movement is commonly referred to as the Swing.

Reverse Indicator

Anyone misinterpreting the price movement in a given time.

 TA

Technical Analysis is commonly referred to as the TA.

MCAP

This is referred to as the Market Capitalization.

DYOR

This is the frequently used term that refers to as the do your own research.

Best Gaming - Based Cryptocurrencies to Invest

Cryptocurrency is the digital currency based on the blockchain technology. The crypto used in the gambling site is known as Gaming Cryptocurrency.

Cryptocurrency is solving recurrent problems in the gaming industry. Due to the profitable nature, a new cryptocurrency is emerging in the gaming industry.

There are some lucrative crypto to invest which can be profitable to invest.

Some of the Best Gaming Cryptocurrency

XMax

This is by far the top-rated gaming cryptocurrency with a high market cap. It works on the Ethereum platform.

Enjin Coin

This is considered as the Largest Gaming community online. Enjin Coin  (ENJ) is the cryptocurrency token issued on the Ethereum platform. Enjin Coin is the mobile wallet.

MobileGo

This came into existence in the year 2017. This is the Ethereum based token.

Tournament, content creator and others are rewarded on the MobileGo platform.

GameCredits

The GameCredits (GAME) was initially coined as the Gamercoin (GMC) that came into existence in the year 2015.

It is simply the Game Payment currency for Gamers.

Strom

This is the decentralized platform for the decentralized gig economy. It is formerly known as Bitmaker. Some of the tasks include testing new products and services, testing Peer to peer freelancing work, watching videos and others.

The rewards on Strom are generated in the form of ‘blots’.

RevolutionVR

This is the platform that allows creating, sharing and playing virtual reality games around the globe.

The motive of the RevolutionVR is to Make Virtual Reality Games accessible to gamers at a minimal cost.

DreamTeam

DreamTeam is the payment gateway for the gamers and escorts. It is also the infrastructure platform.

FirstBlood

This is the competitive gaming tournament platform lets player to win a game. Being the decentralized platform it is built on the Ethereum platform.

The motive of FirstBlood is to make the eSports industry efficient and transparent.

Summary

There is various crypto centralized in the gaming industry. Predominately based on the Ethereum platform. Some can be rewarding to invest especially in the long run.

How You Can Earn Passive Income From Bitcoin

Passive income can be defined as the income that continues to pay upon completion of work. This can be rewarding in the long run.

To start passive income it requires series of skills and talents.

Bitcoin being the high price currency can be used to make passive income.

Bitcoin investment is a risky business, as the central authority does not regulate the blockchain technology. This causes a rapid fluctuation in price.

Some Ways to Generate Passive Income

Trading

Like the Forex, Bitcoin can also be traded. It can be bought at a low price and sell at a high price.

It is essential to have sound knowledge of technical analysis before starting trading of the Crypto.

Holding

Holding refers to buying the cryptocurrency and storing for a longer period of time until it gets profitable.

A significant amount of money is required to hold the Bitcoin.

It is essential to do market analysis before holding the currency.

Blogging

There are various websites that pay crypto upon monetization. This rewards on the basis of view or votes.

Further, Bloggers can ask donation in the content they created.

Stalking       

Crypto needs to be bought and held at a hot wallet. Regular dividends are rewarded.

Mining

Mining is a great way to make passive income from the crypto. Depending on the currency, Graphics Processing Unit, Hardware device, mining rig can require. This can be expensive during the initial phase. But can be rewarding in the long run.

Anyone lacking technical skills and enough space can use cloud mining. Cloud mining is considered as a risky business with a low return on investment.

Landing       

This is the process of landing crypto. There are websites available, which assent in landing the Bitcoins.

Conclusion

Bitcoin or other cryptos can be used to generate passive income. The best way to generate passive income from crypto is by holding, trading, mining, and others.

It is essential to have sound knowledge before investing in the cryptocurrency like Bitcoin.