Crypto mining is a method used by Bitcoin (BTC) where miners solve complex encoded mathematical sequences using a computer. It is a process of adding blocks of validated information to a chain of other similar blocks, hence the name blockchain. Crypto staking, on the other hand, is based on validation by a different principle. It also allows users to earn passive income from their digital assets without having to sell them.
Avalanche (AVAX) uses a proof-of-stake consensus mechanism which it attributes to being a “super fast, cheap and environmentally friendly” service. Big Eyes Coin (BIG) is developed on the Ethereum (ETH) blockchain, so it is currently proof of work; however, the Ethereum 2.0 merger will make it Proof of Stake.
Big Eyes Coin (BIG) benefits from the Ethereum 2.0 merger
Big Eyes Coin (BIG) has started its journey to become the leading meme token in the market. Their goal is to protect our oceans while moving money into the DeFi ecosystem.
Big Eyes Coin (BIG) releases 90% of its tokens to the public at launch. Furthermore, Big Eyes Coin (BIG) is on a mission to save the global ecosystem. The switch to cryptocurrency staking will be beneficial for the platform as cryptocurrency mining uses massive amounts of electricity. This may be why Big Eyes Coin chose Ethereum, the merger 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 use blockchain technology. It was established in 2009 and has exposed crypto to the world. It solved the problem of value transfer in a decentralized and secure way.
Bitcoin (BTC) rewards its miners for donating their computer systems for crypto mining, they compensate you for your troubles, which helps miners earn money. Mining itself is also very profitable. Crypto mining also helps keep the network reliable and secure.
Bitcoin (BTC) is currently experiencing a small positive trend. It is up almost 5% in the last seven days at the time of writing. Demand is the main reason why Bitcoin is rising, and even though demand is on the rise, this could be a good time to trade.
Fastest Proof of Stake Platform: Avalanche (AVAX)
Avalanche (AVAX) uses the popular proof-of-stake consensus algorithm. With the use of subnetting, Avalanche can process an incredible number of transactions per second. It is also energy efficient as it is CPU-Optimal, using approximately 90% less power than Proof-of-Work platforms.
Avalanche (AVAX) is possibly the fastest smart contract platform in the blockchain industry. The crypto staking platform also offers its users an alternative way to passive entry, staking. Staking locks on your tokens to support the network and in return receive monetary compensation or increased utility from the network!
Avalanche (AVAX) has established NFT, a decentralized exchange and strong partnerships with Andretti Formula E to reach a whole new audience. It is currently up 5.82% in seven days at the time of writing. The management team is good and the project is even better, Avalanche is bound to do well this year.
When it comes to crypto mining, it all depends on your setup. If you are mining a strong setup, mining could prove to be very beneficial to you as the software team makes up for it as well as the crypto you are mining.
However, cryptocurrency staking seems to be the way to go for most people. It is environmentally friendly, inexpensive and extremely fast. Big Eyes Coin (BIG) may take advantage of the Ethereum (ETH) Proof-of-Stake platform when it launches this year. A strong community coupled with good service is a recipe for success in the world of cryptocurrencies, beware of Big Eyes Coin