![]() When a block is mined, the PoW system sees your contribution and you are awarded for your work - you receive a certain amount of that cryptocurrency. The way that the PoW system works is that your mining system solves difficult math problems, thus participating in the mining process. When it comes to crypto coin mining, the latter one is more common. In most cases, cryptocurrencies use one of the two systems - “ Proof of Stake” and “ Proof of Work”. One of the ways it does this is by using a “Proof of Stake” system. Structure wise, the coin is closest to that of Ethereum.Įven with all of its similarities to other cryptos in the market, Cardano aims to revolutionize the cryptocurrency world. His name is notable in the cryptocurrency world because he is also the co-founder of Ethereum (one of the most well-known cryptocurrencies out there) and a company called BitShare.Ĭharles has become quite popular and respected in the cryptocurrency world because of his involvement with the before mentioned projects - all of which seemed to come out as vastly successful.Ĭardano is similar to a lot of other established cryptocurrencies because it is decentralized (it doesn’t have a one, single owner - instead, almost anyone can contribute to the coin’s well-being). One of the leaders of the Cardano cryptocurrency project was a co-founder of IOHK named Charles Hoskinson. The development of the platform started back in 2015, but it was released to the general public back in 2017. Cardano is the platform that hosts the crypto-coin - in other words, Cardano is ADA’s blockchain.įor simplicity's sake, and because people are used to saying “Cardano” when they are talking about the coin, in this “Cardano mining” tutorial I will also refer to the cryptocurrency as “Cardano”.Ĭardano was created by a company called Input Output Hong Kong. ![]() The strategic alliance signifies a major advancement for the use of cryptocurrencies in the LATAM region, where digital payments are progressively becoming the norm.If you’re talking about the actual cryptocurrency itself, then you should refer to ADA. The cryptocurrency market continues to gain credibility and wider acceptance as more companies like Binance and Credencial Payments create solutions that simplify and promote the use of digital assets. The partnership between Binance Pay and Credencial Payments could further bolster the rise of cryptocurrencies, particularly in Latin America, a region that has shown increasing interest in digital assets. This is a further step in our ongoing efforts to promote the global adoption of cryptocurrencies in a tangible way, bringing them closer to everyday life." Thanks to this partnership, users will be able to use Binance Pay to pay with the cryptocurrency of their choice. "Payments are one of the first use cases of cryptocurrencies, and we believe there is considerable room for growth in their adoption. "Binance Pay partnering with Credencial Payments is a concrete action towards mainstreaming cryptocurrency use," said Maximiliano Hinz, Binance's Director for LATAM Southern Cone. It presents a significant step towards making cryptocurrency more accessible and usable in everyday life. ![]() This alliance comes amidst the growing prominence of digital assets and the increasing adoption of cryptocurrency worldwide. This collaboration will enable merchants to accept Binance Pay as a new payment method, thereby significantly expanding the use of cryptocurrency in the region.Ĭredencial Payments will allow customers to pay with cryptocurrency in real time, both physically and via e-commerce platforms, facilitating the conversion to local currency. In a strategic alliance aiming to revolutionize the digital payment landscape, Binance Pay, the digital payment platform of the world's largest crypto exchange, Binance, has partnered with Latin American (LATAM) company Credencial Payments.
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