Category Archive: Ethereum

ethereum coin

Ethereum Miners Raked in Nearly $300 Million Last Month as Hashrate Breaks New Highs

ethereum coin
Can you imagine the speed required to make 250 trillion attempts to solve a puzzle in one second? Stop imagining! We already have the answer figured out for you!

On 6th October 2020, the Ethereum-mining hash rate made a new record by reaching a figure of 250 trillione hashes per second. Ether miners are more active than ever before, and the Ethereum network is now more powerful than ever before.

To your surprise, Ethereum is not a mineral found in the mountains. Miners have made $300 million without even stepping outside their homes. Without confusing you any further, let me explain how ETH mining can make you a millionaire.

What is Ethereum?

It is a platform that makes use of a blockchain database to allow developers to create applications on it. The apps that are built on Ethereum are decentralized; Any computer that connects to the Ethereum network can access these apps. You can make online payments, trade cryptocurrency, and sell products without the involvement of third parties like banks.

Ether (ETH) is Ethereum’s cryptocurrency that has $40 billion worth of market capitalization in 2020.

What is Hashrate?

It indicates the overall health or power of the Ethereum network. The combined computing power of all the mining machines is directly proportional to the hash rate; When power increases, the hash rate goes up. This means that the miners play a vital role in strengthening the cryptocurrency network.

Initially, low-power machines were used, but as the popularity of the network grew, more users jumped in, and more powerful mining rigs were introduced. This caused the hash rate to reach trillion hashes per second and enhanced the network’s security.

What is the hype all about? How are the hash rate and mining rigs related to money? Let us find out!

What are the Mining Rigs?

People spend thousands of dollars on building powerful mining rigs that can generate more ETH in less time.

Mining rigs are basically computers with an extremely powerful graphics processing unit. Application-Specific Integrated Circuits have now been introduced for mining purposes. Mining is not an easy task, so it requires a lot of energy in the form of electricity.

The main reason behind using GPUs and ASIC instead of simple CPUs is to lower energy consumption.

Components of a Mining Rig

  1. Power Supply Unit

The capacity of the supply unit (in watts) must be greater than the total power consumption of all the units of your rig. If you have 4 GPUs that consume a total of 800 watts and other units consume 200 watts, a supply unit of at least 1000 watts is needed for the smooth working of the rig.

  1. Hard Drive

Your SSD requirement depends on the operating system of your rig. A 120 GB hard drive is required for mining rigs that run windows. For Linux users, 60 GB SSD would get the job done.

  1. Motherboard

The number of PCIe slot connectors in a motherboard corresponds to the number of GPUs that can be installed. ASRock H110 Pro BTC+, Asus B250 Mining Expert, and Gigabyte GA-H110-D3A are some of the best motherboards for mining. The average cost of these motherboards is around £110.

  1. RAM

Your rig’s processing speed depends on the size of its RAM. At least 4GB RAM is required for fast calculations.

  1. GPU

GPUs are the actual driving force in a rig, so make sure that you have plenty of them. GeForce GTX 1060, RTX 2080 Ti, and RX Vega 56 are some of the most popular graphics cards on the market.

Let me link all the dots here!

The Role of Mining Rigs

A powerful mining rig can make more attempts at solving puzzles in one second. More attempts mean that there are high chances of working out the right answer. When the right answer is generated, a new block is added to the chain, and the miner gets ETH as a reward. It would not be wrong to say that ETH is sitting in the coaxial cables of your rig.

How Ethereum Mining Generates Money?

Mining is not just about solving the mathematical puzzle but being the first miner to discover or guess the solution is a must for earning a reward. Millions of people are working on the same puzzle at one time, so the processing speed of your rig determines your success rate.

Today, one ETH is worth $467. An ETH miner makes money by processing transactions for the application users on the Ethereum network. ETH is a miner’s reward for solving the complex puzzle. When the miner has processed a certain number of transactions, he/she is rewarded with ETH.

Ethereum serves as the platform for the buying and selling of ETH. Miners’ task is to verify and secure transactions resulting from trading on which they also earn a transaction fee.

One important point to note here is that when the hash rate goes up, the difficulty level of the puzzle also increases to balance it out.

Is Mining Profitable?

Eth miners working with powerful graphics cards can make $15 in 24 hours, which is much higher than the profit in Bitcoin.

High profits do not come solely from ETH mining, but from the transaction fee, which is the main attraction.

The transaction fee in the Ethereum network rose to $11.61 in September 2020, producing millions of dollars in profits. Experts suggest that Ethereum is a good investment as Ether’s price is expected to grow over $2000 by the end of 2025.

Summing It Up!

Cryptocurrency is on the rise these days, and according to the experts, it is the future of online trading. Although there are security issues like double spending and 51% attacks, Ethereum and Bitcoin continue to attract investors.

If you have some extra cash lying in your bank, my advice would be to invest it in buying cryptocurrency. You do not need to go big at this point! Start with 1 token and just analyze its value in the market.

Where do you see the price of 1 Ether going in 2030?

Author Bio:
Myrah Abrar is a computer science graduate with a passion for web development and digital marketing.

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Satoshi
Game Credits Token Swap

HolyTransaction supports GAME Token Swap

Game Credits Token Swap

GAME has been upgraded from a Proof-of-Work blockchain to an ERC20 Ethereum token.

Game Credits users will retain the balance of their GAME addresses, which have been migrated to an Ethereum ERC20 token with the GAME ticker symbol. Balance totals for HolyTransaction GAME users will reflect the same GAME total that they had prior to the GAME Token Swap.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
holytransaction dai

HolyTransaction supports Multi-Collateral DAI

DAI users will retain the balance of their DAI addresses, which will be migrated to a new multi-collateral contract with the DAI ticker symbol. Balance totals for HolyTransaction DAI users will reflect the same DAI total that they had prior to the contract swap.

DAI has been upgraded from a single-collateral token to a Multi-Collateral DAI token.

SAI (single-collateral token) will no longer be supported or traded on HolyTransaction.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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holytransaction app

Update for Customers With Tether Stored on HolyTransaction

Please note that we have migrated your Tether balance to USDT on Ethereum (ERC20). Thank you for your continued support for HolyTransaction. If there are any doubts or questions, please don’t hesitate to contact us.

Stay tuned!

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
maker-holytransaction

Wallet Maker: MKR token is available on HolyTransaction

As of today, you can instantly purchase MKR on HolyTransaction, transfer them to any HolyTransaction’s customer for free, and do crypto-to-crypto swaps between your Wallet MKR and more than other 30 cryptocurrencies.

MakerDAO it’s a prime example of Ethereum’s smart contract platform.

Maker is a decentralized autonomous organization on which the MKR token and DAI operate, and it is built on Ethereum. Essentially, it exists to reduce the price volatility of the Dai against the US Dollar. MakerDAO’s native cryptocurrency token is MKR, which can be stored on HolyTransaction now.

maker-holytransaction

Dai and MKR are dependent on each other to operate, Dai offers stability, while MKR offers involvement and potential on MakerDAO.

As the technology and methodology behind MakerDAO continues to progress the future of stablecoins and DAO are certain to bring interesting evolution to the cryptocurrency economy.

All HolyTransaction customers can create a new address for MKR and use the simple HolyTransaction Web Wallet to send and receive transactions or to instantly convert them to any other cryptocurrency.

Just like with Bitcoin, you can:

  • Send MKR to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange MKR with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

To add Wallet Storj just click on the “plus” button you find at the top right of the balance page, once you successfully enter into your wallet.

You can find the “plus” button to select the wallets you want to see in the main page like shown in the picture below:

Add new cryptocurrency

We’re excited to be part of the STORJ community!

NOTE: Our multicurrency wallet can store more than 30 cryptocurrencies, including: BitcoinDash, Ethereum, DogecoinLitecoin, DecredZcash, Dai Stablecoin, DigixDao, Augur, 0x Project, Gamecredits, Enjin CoinBlackcoin, Gridcoin, Aidcoin, PeercoinSyscoin, Groestlcoin, Power Ledger, BAT, BlockVPIVXTrueUSD, Cardano, STORJ, Monero and MakerDAO among the others.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
holytransaction app

Ethereum Hard Fork

Ethereum Hard Fork Please note that the Ethereum (ETH) Hard Fork is scheduled for February 28, 2019. Consequently, HolyTransaction wallet services for ETH will be temporarily suspended to perform this update. The services will be suspended from around 6:00pm UTC on February 28, 2019. Note that the time might vary depending on average block time and mining difficulty. We appreciate your understanding regarding this matter and thank you for your continued support for HolyTransaction. If there are any doubts or questions about the Ethereum Hard Fork, please don’t hesitate to contact us.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
Holy Transactions, Not a Myth

Some have always known, some were not ready yet.

Holy Transactions, Not a Myth

With the first creative campaign “Not a Myth”, we at HolyTransaction target the new Crypto-generation with an almost-irreverent and fresh concept, while blinking an eye to our fellow old-school Believers.

It’s the year 9 after Bitcoin. 

And today, we are proud to stand still in front of all our customers and supporters, announcing a new era for our common venture. Launching our first creative campaign. Reaching out to new shores.

We are here to empower people, and engage the world in the greater adoption of this new and exciting technological revolution. And so far, we made the most popular digital currencies accessible, storable, tradable, and secure for every user in our community, all from one single account.

Now, it’s time to celebrate.

Holytransaction 25 crypto supported

Follow us on our official twitter account @holytransaction and get to know everyone in the Crypto-Pantheon at https://holytransaction.com/landing/not-a-myth.html

Holy transactions are not a myth anymore.

About HolyTransaction:

HolyTransaction SA was launched in 2015 and since then it provides crypto enthusiast with the most complete and user-friendly platform to store and exchange multiple currencies. Indeed, in its first five years of business HolyTransaction already managed to make 25 of the most popular digital currencies accessible, storable, tradable, and secure for every user in our community; all from one single account.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Crypto Kings, Holytransaction

Crypto Kings, who they are?

Crypto Kings, Holytransaction

The skepticism around cryptocurrencies, specially at the beginning of the blockchain era, was very high.

Things, however, are much more different now.
In 2017, the popularity and value of cryptos literally skyrocketed as the fame of some crypto-investors did.

The various features and benefits of the blockchain, which have allowed its incredible growth, probably are still misunderstood by many. But everybody knows someone who have become millionaire/billionaire thanks to this technology. And probably this has a lot to do with all those “normal” people who tried to invest in BTC. Money has been their drive.

Instead, (many of) the ones who earned real fortunes were prepared, competent and profoundly committed to a higher vsion.

Below, you will see a list of 15 crypto kings that are making history with their engagement in the field of cryptocurrencies. Check out the infographic below provided by our friends of BitFortune.net to learn all about these people.

Crypto Kings, Holytransaction

Crypto Kings, Holytransaction

Crypto Kings, Holytransaction

Crypto Kings, Holytransaction

Crypto Kings, Holytransaction

Crypto Kings, Holytransaction

Crypto Kings, Holytransaction

Crypto Kings, HolytransactionCrypto Kings, HolytransactionCrypto Kings, Holytransaction

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Welcome to the Universal Wallet and Exchange, BAT Token

If you thought about holding or exchanging BAT Token, now you can do so directly with your HolyTransaction Universal Wallet.

It’s now possible to add BAT wallet to your dashboard and use it to access and exchange 21 different crypto, instantly. This is just one of the many recent adoptions, which we are proud to announce and that brought the number of cryptocurrencies accepted on our platform to 21.

Now you are free to store BAT on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to BAT. All HolyTransaction customers can create a new address for their own BAT Token Wallet.

BAT Wallet features


Just like Bitcoin and all the other 20 digital currencies supported, you can now:

  • Send BAT Token to any address, even to addresses of other crypto, with instant conversion on the fly;
  • Receive transactions;
• Exchange BAT Token with any supported coins;
  • 
Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

If you are not able to see your newest BAT Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

Basic Attention Token:

Introducing a decentralized, transparent digital ad exchange based on Ethereum Blockchain.

Basic Attention Token radically improves the efficiency of digital advertising by creating a new token that can be exchanged between publishers, advertisers, and users. It all happens on the Ethereum blockchain. The token can be used to obtain a variety of advertising and attention-based services on the Brave platform. The utility of the token is based on user attention, which simply means a person’s focused mental engagement.

In the ecosystem, advertisers will give publishers BATs based on the measured attention of users. Users will also receive some BATs for participating. They can donate them back to publishers or use them on the platform. This transparent system keeps user data private while delivering fewer but more relevant ads. Publishers experience less fraud while increasing their percentage of rewards. And advertisers get better reporting and performance.

The first part of the solution, the Brave browser, is already operational. Brave is a fast, open source, privacy-focused browser that blocks ads and trackers, and contains a ledger system that anonymously measures user attention aggregate to accurately reward publishers.

Discover all the details on the official website https://basicattentiontoken.org

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack
Holytransaction, 5 Gold Trading Lessons for Today’s Cryptocurrency Investors

5 Gold Trading Lessons for Today’s Cryptocurrency Investors

Holytransaction, 5 Gold Trading Lessons for Today’s Cryptocurrency Investors

For people who have traced the movements of Bitcoin since its inception, it’s hard to believe that it has only been around for less than a decade. As discussed here on HolyTransaction, the world’s first cryptocurrency has had a wild ride so far, from the downright bizarre (two pizzas for 10,000 BTC) to the extremely exciting. As of the start of the year, Bitcoin’s market cap was valued at $280 billion (€226 billion), with cryptocurrency like Ethereum following at impressive valuations of $90.4 billion (€73 billion).

These figures make investing in cryptocurrencies incredibly tempting, but also quite daunting. With such a young market, there aren’t a lot of set rules or trends that can help guide you on your investment journey. This is where looking at similar trading commodities like gold and other precious metals come in. After all, FXCM explains that gold trading is simultaneously one of the oldest and most exciting ways to invest in global markets, and this remains true whether in times of war and turmoil or peace and prosperity. With the right focus and lots of discipline, there’s plenty of wisdom to be uncovered from looking at the history of gold trading.

Whether you’re a beginner looking to dip your toes into the cryptocurrency pool or an experienced trader hoping to build your wisdom in Bitcoin investing, here are five golden lessons for today’s cryptocurrency investors.

Diversify, diversify, diversify!

This tip seems basic, but focusing on a single trading commodity remains one of the most common mistakes investors make. A conservative position in gold investing means a maximum of 10% gold in your portfolio, and this is something that you can keep in mind when investing in cryptocurrencies. This can not only protect you from unexpected Bitcoin price dips, but can also open up better growth opportunities with lower risks and good returns. From the over 1,300 different cryptocurrencies in existence, This is Money recommends looking into altcoins like Litecoin, Monero, and Dash this 2018.

Stay calm in the face of volatility.

Gold can easily swing by a hundred pips and reverse every few minutes, which means trading in gold requires a certain degree of thick skin and steel-like determination. These are also very handy when trading cryptocurrencies, which are infamous for their volatility. In crypto-speak, be ready to “HODL”, or hold on for dear life (your coins), even when everyone else is panicking.

Set a loss limit.

Be sure to set acceptable loss limits for your investments and avoid buying too much. Financial Times reports that even a trusty commodity like gold has its own set of risks, which means it’s healthy to set stops for each individual trade for a maximum allowable loss that you are comfortable with. Invest only what you can stand to lose, and keep evaluating your trading strategies to learn which cryptocurrencies are best suited for you.

Keep your eyes on the prize.

Whatever your feelings are about shiny yellow metals or blockchain-enabled digital currencies, Forbes claims that these are still commodities that can be sold when prices are high and bought when prices are low. Focus on market trends and see where the prices are heading, and use these to inform your decisions. Pay attention to cycles, growth patterns, and market potential to make decisions, instead of which cryptocurrencies everyone else is buying.

Security and safety is a must.

Last but not least, invest only on trusted trading platforms and certified services. Millions of people have been victimised by gold-related scams and fraudulent brokers over the years, and it’s important to carry the same level of vigilance when carrying out cryptocurrency wallet transactions. Keep your money and investments safe with your free digital wallet here at HolyTransaction.

Do you have any other tips for cryptocurrency trading? Let us know in the comments below!

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack