coins</strong></a> for solving each data <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">block./nCPU mining is competitive and requires constant hardware maintenance to keep generating blocks and receiving rewards. Since <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin has a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-halving/">halving technology programmed into it, progressively reducing the BTC rewards by 50%, the computational process becomes increasingly complicated.</p>\n<p>More efficient tools and mining strategies have been adopted, such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-graphical-processing-unit-gpu/">GPU mining. Despite the prominence of CPU mining in the early days of blockchain, the processes have become increasingly complicated. Therefore miners on cryptocurrency blockchains like Bitcoin have started adopting GPUs and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-asic/">Application-Specific Integrated Circuit (ASIC)</strong></a> tools for the process.</p>\n<p>GPUs are more advantageous than CPUs for mining as GPUs can generate the blocks faster. Speed is an important component in Bitcoin mining, given the cryptocurrency’s halving mechanics. Thus, increasing the mining pace by adopting GPUs can be more profitable.</p>","level":"easy","meta_title":"What is CPU Miner? Definition & Meaning | Crypto Wiki","meta_description":"CPU Miner meaning: CPU Miner - a software program that relies on the CPU to mine cryptocurrency.","meta_keywords":null,"language":"en","created_at":"2022-02-24T13:56:23.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-cpu-miner"},"prevSection":{"id":196,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Correction?","slug":"what-is-correction","section":"C","keyword":"Correction","status":"published","definition":"an event in the financial market when an asset’s value suddenly decreases by at least 10% to adjust for over-valuation","content":"<p><strong>Correction</strong> can be described as a market activity when the price of an asset suddenly decreases by at least 10% after a recent peak. The price typically returns from over-valuation to the long-term established trend, thus “correcting” itself.</p>\n<p>Correction events are typically followed by recoveries. However, corrections can sometimes lead to longer declination periods such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-bear-market/">bear markets</strong></strong></a> when the prices drop by at least 20%. Bear markets are statistically infrequent.</p>\n<p>According to the financial services company Charles Schwab, between November 1974 and February 2020, the S&P 500 stock market index oversaw 24 corrections, of which five were followed by bear markets.</p>\n<p>Compared to the traditional markets, the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency market experiences more frequent price corrections by 5-10%. This is caused by the overall <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-volatility/">volatile nature of cryptocurrencies. However, crypto market recoveries tend to quickly follow. Since the creation of the cryptocurrency market in 2009, the overall market sentiment has been predominantly <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-bull-market/">bullish.
/nAlthough <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> has overseen intense market corrections, with the value dropping by as much as 50% in a day, its overall value has grown significantly, from $0.003 per Bitcoin in 2010 to $69,000 at its all-time peak in November 2021.</p>","level":"easy","meta_title":"What is Correction? Definition & Meaning | Crypto Wiki","meta_description":"Correction meaning: Correction - an event in the financial market when an asset’s value suddenly decreases by at least 10% to adjust for over-valuation","meta_keywords":null,"language":"en","created_at":"2022-02-24T13:49:02.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-correction"},"currentChapter":"C","currentSection":"what-is-consensys","chapterTitle":"C","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-consensys","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter C
What is ConsenSys?
ConsenSys MEANING:
ConsenSys -
is a blockchain software technology company that provides a variety of business solutions and developer tools.
Let's find out ConsenSys meaning, definition in crypto,
what is ConsenSys,
and all other detailed facts.
ConsenSys was founded in October of 2014, in Brooklyn, New York, by Joseph Lubin. The organization created decentralized software applications that function on the Ethereum blockchain.
The primary idea of the firm is to provide an opportunity for developers, businesses, and individuals all around the world to construct succeeding applications, and introduce contemporary financial infrastructure. As well as get access to the decentralized web.
The solutions they provide are capital markets, DeFi for organizations, commerce, payments, money, asset management, global trade, and so forth. To specify, they have a wide range of products such as CodeFi, which is the blockchain application set for finance and commerce.
Diligence also manages security assessments for smart contracts and the Ethereum blockchain. Quorum is the only totally open blockchain framework for an enterprise. Infura is a fast and completely adaptable API for accessing the Ethereum and IPFS networks.
Truffle is a development environment as well as a testing framework for the Ethereum contracts.
MetaMask, on the other hand, is the most well-known and popular project. It is an Ethereum wallet system that allows users to hold and exchange cryptocurrency and tokens, as well as view and engage with decentralized apps developed on the Ethereum network.
A number of ConsenSys companies and projects have raised capital from the public in the form of Initial Coin Offerings (ICOs).
