What Role Has Mining Played When It Comes To Promotion Of Cryptocurrencies?

[Good-Person]

Mining is one of the most important concepts when it comes to cryptocurrencies. Miners earn cryptocurrencies when they mine coins whenever cryptocurrencies are sent and received by users on the blockchain. This has helped many people earn cryptocurrencies. This involves setting up mining rigs and mining farms. So, do you think that mining has actually promoted cryptocurrencies even more?

 

[Heatman]

Cryptocurrency mining is not something that I have much interest in right now because over the past few years that I have invested a lot of time in a lot of mining software, I have not been able to get anything realistic from them. So I've given up on mining cryptocurrency and I'm not planning on going back to it.

 

[Nomad]

Ethereum switched from POW to POS, and the switch has been highly appreciated in the crypto market because ETH is now more environment friendly. While mining gives people to earn crypto, it is not a profitable venture for small investors.

 

[Heatman]

The most important contribution mining helps in cryptocurrency project is that it helps to prevents the double spending of digital currency on a distributed network. By doing this, it helps to validate cryptocurrency transactions on a blockchain network and adding them to a distributed ledger.

 

[Riberet19]

I think that cryptocurrency mining helped in the promotion of cryptocurrencies, especially at the beginning when you didn't need as much hash rate and therefore there was less competition and you could earn a little more money with mining, right now it is a market only for a few which have enough money to buy the appropriate machinery or already have the machinery amortized, and therefore mining does not have much impact on their promotion right now, I think that those that have the greatest impact right now on crypto promotion are the exchanges.