Cryptocurrency and Gold Mining

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Cryptocurrency and Gold Mining

Cryptocurrency is expected to support the growth of the gold mining industry due to gold-backed cryptocurrency and the technology and hardware that supports the functioning of cryptocurrency. These insights are discussed in detail below.

1. Gold-backed Cryptocurrency

2. Technology and Hardware That Supports the Functioning of Cryptocurrency

  • There is a common belief that cryptocurrencies are superior to gold, but according to the US Geological Survey, cryptocurrencies depend on gold and other minerals. This is because of the technology upon which cryptocurrencies are based, known as blockchain.







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