Answering Your Cryptocurrency Mining and Colocation Questions
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What is cryptocurrency and how does mining work?
Cryptocurrency is a computer-generated monetary system. It’s created by specialized, powerful computers called “miners,” which compete mathematically to secure “transactions.” The transactions are bundled into a “block,” which the cryptocurrency miner digitally verifies to assure the validity of all transactions. The miner computes a “cryptographic hash,” a computerized method to ensure the block’s validity and prevent invalid block construction. Blocks are accumulated and accounted for in the blockchain, functioning as digital ledgers. Miners are rewarded for their transactions with a set amount of cryptocurrency.
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What are the long-term projections for cryptocurrency?
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What are the advantages of cryptocurrency over fiat money or a credit card?
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What cryptocurrencies can I mine with Compute North's colocation services?
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What are the advantages of colocation over cloud mining or running my own equipment?
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How does Compute North help me collect, trade, and spend cryptocurrency?
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What type of mining equipment can Compute North operate?
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How does Compute North economize on energy consumption?
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Where are Compute North's facilities?
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How much does it cost for colocation services?
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What is proof-of-work?
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What is cryptocurrency's legal status?
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Is cryptocurrency taxed?
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Can I pay my monthly invoice with crypto?
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