If there is a cryptocurrency that has acquired popularity close to Bitcoin, then it is Ethereum. It is among the leading crypto-currencies when it comes to market capitalization. Ethereum is not just a cryptocurrency, but it is also a blockchain system that is useful in creating decentralised applications. Since Ethereum Blockchain is used by most companies now, it is gaining popularity among Ethereum miners and developers. Ethereum mining is a great way to make more cash. Benefiting from cryptocurrencies in p is a perfect option. Since many applications for Blockchain depend on Ethereum. Ethereum mining is going to be lucrative, as its price is expected to grow. The Ethereum minimum can be simplified with the use of the best Ethereum software. There are some apps like that on the market, and we've got the seven best for you here. 7 Ethereum 's Best Apps: ETHminer- This is an Ethereum mining application which is supported on Linux , Windows, and Mac. It is also possible to use the Ethash algorithm, luke Ellaisma, Musicoin Ethereum Classic, Metaverse, It is a command-line program that allows you to construct shortcut commands using a Windows cmd / batch file or Linux Bash script. The next software on our list is CGMiner-A, which was published in 2011. It is one of the common choices and has compatibility with GPU, FPGA, and ASIC. It is open-source software and can cause advanced detection of blocks. It is written in C; Ethereum developers are able to save a hash rate without delay using this Ethereum mining programme. On Linux , Windows, and Mac, this program is open. BitMinter- The graphical interface is transparent and it links easily to the Bitminter mining pool. This software was launched in 2011 and has more than 450,000 user accounts registered. The Java Network Launch Protocol (JNLP) is the foundation of its operations. Linux, Windows and Mac are also compatible with this programme. Claymore- This is one of the most powerful mining applications for Ethereum, and without delaying the mining pace, you can scale up the hash rate. You can also mine other cryptocurrencies like Lbry, Pascal, Siacoin, and Decred using this Ethereum mining programme. This software is Linux and Windows compatible and not Mac compatible. WinETH- If you are looking for an Ethereum mining app that is fast and simple to use, then this is the one for you. It is comparable to WinETH, but it has a simpler Interface and a smarter algorithm that makes it easy to use for Ethereum miners. Minergate-It was the first mining app for Ethereum to deliver merged mining. You can use this app to concurrently mine two separate coins without impacting the main coin's hash rate. In addition, this coin will also tell you about the market's most valuable coins. This programme can be used by Ethereum miners to mine other coins, including Zcash, Liteoin, Monero. BFGMiner- This programme is written in C and operates on various Linux, Windows and Mac operating systems. You will mine crypto coins and have both SHA256D and Scrypt on its algorithm. It also offers you total support for tracking. Conclusion- These are some of the popular mining applications for Ethereum that you can use. If you would like to know more about the creation of Ethereum, or Ethereum mining, If you wish to know more about Ethereum development, or Ethereum mining, or you want to enroll for Ethereum certification, connect with Blockchain Council today.
0xBitcoin might experience some benefits from ETC's recent decision to go to SHA3. For one thing, if ETC developers turn their minds toward SHA3 GPU mining, it seems likely that they'll be very interested in the optimization work already done by Lt. Tofu and Azlehria on Cosmic and Nabiki. But they may also spot additional optimizations, which could most likely be ported back into our miners! For another thing, since ETC has a larger community than 0xBitcoin's, it's likely that they have people with very diverse skills. As they turn their minds toward SHA3 on FPGAs, I anticipate they will be choosing FPGA boards and writing software for them that probably will not be very difficult to alter to mine 0xBitcoin! Practically speaking, this may result in a new era of mining where a respectable hash rate can be achieved with much less electricity expense. Basically, if people with EE or hardware development backgrounds in the ETC community pin down some of the variables involved, like development board, it seems very likely that we will be able to get FPGAs mining 0xBitcoin quickly. We recently exchanged some nice words with Alex Tsankov. He revealed he is doing work that may allow merge mining ETC and other projects like 0xBitcoin. I don't know how good this will be, but it's hard for me to see how this could be a bad thing. It's really great to have nice words from Alex, because he seems like a very smart dude who is very open to collaboration. I have joined the ETC Discord (edit: link removed for just-Reddit-things reasons, you'll have no trouble finding it) and will be watching for opportunities to tell people there about our miners if they don't know, and watching for info about their developments on SHA3 miners.
10-21 14:35 - 'Raising aware nce of cumulative mining power and raising funds for helping organization' (self.Bitcoin) by /u/Basic-Ad-9198 removed from /r/Bitcoin within 3-13min
''' Dear Community, we are not sure if this the right forum to purpose this one. We are working on a development for a new chain for African people to get more adaption within Africa Content. We're also working on a new coin for payment for people and help organization in Africa. Since we are not looking for raising founds through ICO or selling coins. we came with the idea (DONATE YOUR HASHRATE FOR A DAY). Since we had a good reference from many users that nice hash would be the easiest way. We made an account for testing purpose. The website will be coming up soon with all details. but for now if you are interested to share/donate your Hash rate and helping to raise Founds for a good purpose you are most welcome to use our mining Wallet into nice hash for 1 day (or more) every contribution is welcome. Also willing to hear from the community in here, if you have a proposed, ideas or assistance to share. They are more than welcome. Kind Regards. For Donation, you hash rate:
New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v220.127.116.11 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v18.104.22.168 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v22.214.171.124 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v126.96.36.199 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v188.8.131.52 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
Hello. 👋🏻 Today we will tell you about ACIS-mining and its 3 best algorithms. 📌 With the advent of ASICs for mining, it became possible to mine Bitcoin in much larger quantities than using video cards. ASIC is an integrated circuit specialized to solve a specific problem, in our case, only for bitcoin mining. These schemes are many times more profitable than video cards, because with more power (hash calculation speed) they consume much less energy. This served as a good reason to create a cryptocurrency mining business. 📌 In bitcoin and other blockchain systems, the complexity of mining depends on how quickly the miners find the block. Compared with the GPU and CPU, specialized #ASIC miners solve #PoW puzzles better and are therefore able to quickly find new blocks. 📌 Since PoW is still the preferred mining consensus mechanism, we propose to take a multiple algorithm approach. Instead of trying to use algorithms which are ASIC resistant, we propose to use algorithms which have had ASIC miners for quite some time. These are: #SHA256, #Scrypt, and #X11. 🔹 The SHA-256 algorithm has a number of advantages over other information protection technologies. Over the years of use in the cryptocurrency industry, he has shown his resistance to various hacking attempts. 🔹 Scrypt is a cryptocurrency mining algorithm that was previously interesting to many single miners in view of its resistance to the so-called “hardware attack”. The speed of creating blocks in a Scrypt-based blockchain is about 30 seconds. The hashrate, like Ethash, is measured in Megahash per second. Scrypt, first of all, became popular due to its use in Litecoin #cryptocurrency. 🔹 X11 is an encryption algorithm in which eleven are used instead of one function. This means that this technology can provide a high degree of security, because in order to harm the system, an attacker will have to crack all 11 functions, which is very unlikely, because the changes made will be visible after breaking the first function, and developers will have a lot of time to protect the system before the hacker reaches the eleventh function. Since these miners are already in wide use, the distribution of mining should be fair and even. Furthermore, the use of three different algorithms results in a far less chance of any single person gaining a majority hash rate share. Lastly, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining. Read more about PYRK mining solutions here: https://www.pyrk.org Read our Whitepaper to know more about the project: https://www.pyrk.org/Pyrk-Whitepaper.pdf https://preview.redd.it/rxmlr7wt1k251.png?width=1200&format=png&auto=webp&s=162f9ddaacb3cf3e137638464a208bdf25e50a21
We present the complete guide to overclocking GPUs with OverdriveNTool for your Ethereum Mining Rig! In this special we will write a complete guide to OverdriveNTool, in our opinion the most efficient, fast and immediate software for overclocking GPUs dedicated to mining. The interface is presented in a very simple and no-frills way, as if to suggest how much the program was created to go directly to the purpose. We remind you that after installing the drivers (see our guide to build a 6 GPU Ethereum Mining Rig) you will need to go through the Radeon Settings (Radeon Settings), select Game, Global Settings and for each GPU in your mining rig (or mining rig) you will need to make sure that HBCC memory is disabled. Do the same with the Crossfire option, checking that it is also disabled. Reboot the system and verify that all video cards have indeed not enabled HBCC and Crossfire before proceeding. At the following link the software download and technical specifications: https://forums.guru3d.com/threads/overdriventool-tool-for-amd-gpus.416116/ Recall that the GPUs in Atiflash will numerically correspond to the GPUs in ONT and Claymore, without misalignment. First we open our BIOS previously modified with Bios Polaris or, possibly, a stable Bios Mod downloaded from specialized sites such as Anorak via ONT. However, we can also overclock the original Bios of the GPU. Follow the OverdriveNTool guide carefully when operating at these levels! Click on New to create a new profile for the selected GPU. At first you will find yourself on the 0 which will correspond to the 0 in Atiflash and Claymore. I repeat once again: identical GPUs can behave differently; for this reason, the most stable final overclocking may vary from card to card. It will be sufficient to load the first profile on each subsequent tab, select New, make the necessary changes and save it with a different name (possibly recognizable, such as GPU1-OC Memory or GPU2-Temp, etc ...). The stages of the GPU and Ram. On the left we find the stages or clocks of the GPU with relative voltage for each sector. Some users disable the first 6 stages (from P1 to P6) to ensure that once the command for the minion is executed, the GPU immediately goes to the last stage. For those who, like us, restart the RIG once every 2 or 3 days, or even more, it is an unnecessary procedure. We recommend, at least for the first tests, to leave them activated. Once you have reached the limit of the video card, you can check whether disabling them will bring some improvement in terms of hashing on the screen without the pool being affected. Because in effect our goal is to have a high hash-rate and with a minimum percentage of errors on the pool even at the expense of a lower hash-rate in our RIG. In the central part we find the speed of the memory divided into 3 sectors. We will operate directly on the latter. On the right you can see the speed of the fans, the temperature that the fans must maintain (in our bios-mode it is set at 75 ° to which we obviously never arrived), the acoustic limit (in a RIG it is a parameter to always keep consideration). The last section at the bottom right, the Power, is divided into the maximum reachable temperature (with our Pulse set at 84 ° while with the XFX at 75 °) and the Power Target, strictly linked to the modified Bios that we are overclocking . You can try at the end of all tests, in the event of instability of one or more GPUs, to give less power starting from -25%. In this guide we will refer to the XFX RX 580 8GB GDDR5, with GPU clock at 1200Mhz and Memory at 2150Mhz. 8 video cards theoretically identical in total. Let's put into practice what has been written up to now ... We immediately opted for blocking the stages by operating directly on the latter for both the GPU Clock and the RAM. From these levels it starts to drop with the voltage of both the GPU and the RAM, alternatively always checking hashing, consumption and the stability of the system (usually 5-10 minutes are enough). When the voltage is too low, the GPU will not start undermining. The goal is to obtain the best performance / consumption ratio, always parameterizing the results obtained on the pool. A very high hashrate or very low consumption can often create numerous errors in the mining phase. With 8 RX580 8GB video cards we reached a total consumption (thus including all the components of the RIG) of 770 Watts for an average of less than 100 Watts per GPU. The result was achieved by bringing the GPU clock voltage to 1000 and the RAM to 900. Lower values are theoretically possible but could cause system instability. As mentioned previously, each video card is different from the others and on one of the eight GPUs we were forced to lower the power by 25%. After these tweaks, we got results on the pool with a hashrate often higher than 240mhs. We would like to emphasize that GPU overclocking is the absolute operation that will take you the longest time. It can take hours to reach the so-called "sweet spot" of each video card. Our OverdriveNTool guide will surely help you! But this achievement will give you great satisfaction, we guarantee it. Below the stable settings for the RX Vega 64 video cards of our 13 GPU Mining Rig of which you can see some videos on our YouTube channel: https://www.youtube.com/channel/UCdE9TTHAOtyKxy59rALSprA Complete Guide to OverdriveNTool See you soon for the next guide dedicated to mining! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A
I've been buying Bitcoin for a while mostly in a 'fad' state of mind; it's tomorrow's technology and hopes of making profit. But recently I've had new perspective after seeing how the world uses Bitcoin especially in Venezuela/Hong Kong and how the US treasury/federal system is spending money. So I've been reading and understnading Bitcoin more and wanted to learn about mining. I'll preface that I'm not in this to make money (I'm mostly a few years late anyways) but I want to learn more of the technology. I'm mining with my GPU at the moment under a mining pool. My hashrate is about 9Mh/s which I'm not sure what that fully means. Am I computing 9000 'hash-computations per second towards finding the next block? I understand that a GPU will calculate solution faster than a CPU, but what should I be getting out of a GTX 1060 3GB for hash rate? Is there a way to optimize connection to the network? https://imgur.com/a/ga94sSJ Mostly any information would be helpful. I can follow directions on how to set up mining, but I want to know more about the inner workings and the hardware technology that goes along with it.
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
Technology and some more:
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
Down the rabbit hole
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here. Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017. Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand. Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”.Scilla design story part 1
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
“Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
Smart contract on a sharded environment and state sharding
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
Business & Partnerships
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
Marketing & Community
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
Author: Gamals Ahmed, CoinEx Business Ambassador https://preview.redd.it/5bqakdqgl3g51.jpg?width=865&format=pjpg&auto=webp&s=b709794863977eb6554e3919b9e00ca750e3e704 A decentralized storage network that transforms cloud storage into an account market. Miners obtain the integrity of the original protocol by providing data storage and / or retrieval. On the contrary, customers pay miners to store or distribute data and retrieve it. Filecoin announced, that there will be more delays before its main network is officially launched. Filecoin developers postponed the release date of their main network to late July to late August 2020. As mentioned in a recent announcement, the Filecoin team said that the initiative completed the first round of the internal protocol security audit. Platform developers claim that the results of the review showed that they need to make several changes to the protocol’s code base before performing the second stage of the software testing process. Created by Protocol Labs, Filecoin was developed using File System (IPFS), which is a peer-to-peer data storage network. Filecoin will allow users to trade storage space in an open and decentralized market. Filecoin developers implemented one of the largest cryptocurrency sales in 2017. They have privately obtained over $ 200 million from professional or accredited investors, including many institutional investors. The main network was slated to launch last month, but in February 2020, the Philly Queen development team delayed the release of the main network between July 15 and July 17, 2020. They claimed that the outbreak of the Coronavirus (COVID-19) in China was the main cause of the delay. The developers now say that they need more time to solve the problems found during a recent codecase audit. The Filecoin team noted the following: “We have drafted a number of protocol changes to ensure that building our major network launch is safe and economically sound.” The project developers will add them to two different implementations of Filecoin (Lotus and go-filecoin) in the coming weeks. Filecoin developers conducted a survey to allow platform community members to cast their votes on three different launch dates for Testnet Phase 2 and mainnet. The team reported that the community gave their votes. Based on the vote results, the Filecoin team announced a “conservative” estimate that the second phase of the network test should begin by May 11, 2020. The main Filecoin network may be launched sometime between July 20 and August 21, 2020. The updates to the project can be found on the Filecoin Road Map. Filecoin developers stated: “This option will make us get the most important protocol changes first, and then implement the rest as protocol updates during testnet.” Filecoin is back down from the final test stage. Another filecoin decentralized storage network provider launched its catalytic test network, the final stage of the storage network test that supports the blockchain. In a blog post on her website, Filecoin said she will postpone the last test round until August. The company also announced a calibration period from July 20 to August 3 to allow miners to test their mining settings and get an idea of how competition conditions affected their rewards. Filecoin had announced earlier last month that the catalytic testnet test would precede its flagship launch. The delay in the final test also means that the company has returned the main launch window between August 31 and September 21. Despite the lack of clear incentives for miners and multiple delays, Filecoin has succeeded in attracting huge interest, especially in China. Investors remained highly speculating on the network’s mining hardware and its premium price. Mining in Filecoin In most blockchain protocols, “miners” are network participants who do the work necessary to promote and maintain the blockchain. To provide these services, miners are compensated in the original cryptocurrency. Mining in Filecoin works completely differently — instead of contributing to computational power, miners contribute storage capacity to use for dealing with customers looking to store data. Filecoin will contain several types of miners: Storage miners responsible for storing files and data on the network. Miners retrieval, responsible for providing quick tubes for file recovery. Miners repair to be carried out. Storage miners are the heart of the network. They earn Filecoin by storing data for clients, and computerizing cipher directories to check storage over time. The probability of earning the reward reward and transaction fees is proportional to the amount of storage that the Miner contributes to the Filecoin network, not the hash power. Retriever miners are the veins of the network. They earn Filecoin by winning bids and mining fees for a specific file, which is determined by the market value of the said file size. Miners bandwidth and recovery / initial transaction response time will determine its ability to close recovery deals on the network. The maximum bandwidth of the recovery miners will determine the total amount of deals that it can enter into. In the current implementation, the focus is mostly on storage miners, who sell storage capacity for FIL.
The current system specifications recommended for running the miner are:
NVIDIA-manufactured GPU (to be expanded).
SSD drive designated as large buffer (512GB +).
Large amount of RAM for data replication account (128GB +)
Compared to the hardware requirements for running a validity checker, these standards are much higher — although they definitely deserve it. Since these will not increase in the presumed future, the money spent on Filecoin mining hardware will provide users with many years of reliable service, and they pay themselves many times. Think of investing as a small business for cloud storage. To launch a model on the current data hosting model, it will cost millions of dollars in infrastructure and logistics to get started. With Filecoin, you can do the same for a few thousand dollars. Proceed to mining Deals are the primary function of the Filecoin network, and it represents an agreement between a client and miners for a “storage” contract. Once the customer decides to have a miner to store based on the available capacity, duration and price required, he secures sufficient funds in a linked portfolio to cover the total cost of the deal. The deal is then published once the mine accepts the storage agreement. By default, all Filecoin miners are set to automatically accept any deal that meets their criteria, although this can be disabled for miners who prefer to organize their deals manually. After the deal is published, the customer prepares the data for storage and then transfers it to the miner. Upon receiving all the data, the miner fills in the data in a sector, closes it, and begins to provide proofs to the chain. Once the first confirmation is obtained, the customer can make sure the data is stored correctly, and the deal has officially started. Throughout the deal, the miner provides continuous proofs to the chain. Clients gradually pay with money they previously closed. If there is missing or late evidence, the miner is punished. More information about this can be found in the Runtime, Cut and Penalties section of this page. At Filecoin, miners earn two different types of rewards for their efforts: storage fees and reward prevention. Storage fees are the fees that customers pay regularly after reaching a deal, in exchange for storing data. This fee is automatically deposited into the withdrawal portfolio associated with miners while they continue to perform their duties over time, and is locked for a short period upon receipt. Block rewards are large sums given to miners calculated on a new block. Unlike storage fees, these rewards do not come from a linked customer; Instead, the new FIL “prints” the network as an inflationary and incentive measure for miners to develop the chain. All active miners on the network have a chance to get a block bonus, their chance to be directly proportional to the amount of storage space that is currently being contributed to the network. Duration of operation, cutting and penalties “Slashing” is a feature found in most blockchain protocols, and is used to punish miners who fail to provide reliable uptime or act maliciously against the network. In Filecoin, miners are susceptible to two different types of cut: storage error cut, unanimously reduce error. Storage Error Reduction is a term used to include a wider range of penalties, including error fees, sector penalties, and termination fees. Miners must pay these penalties if they fail to provide reliability of the sector or decide to leave the network voluntarily. An error fee is a penalty that a miner incurs for each non-working day. Sector punishment: A penalty incurred by a miner of a disrupted sector for which no error was reported before the WindowPoSt inspection. The sector will pay an error fee after the penalty of the sector once the error is discovered. Termination Fee: A penalty that a miner incurs when a sector is voluntary or involuntarily terminated and removed from the network. Cutting consensus error is the penalty that a miner incurs for committing consensus errors. This punishment applies to miners who have acted maliciously against the network consensus function. Filecoin miners Eight of the top 10 Felticoin miners are Chinese investors or companies, according to the blockchain explorer, while more companies are selling cloud mining contracts and distributed file sharing system hardware. CoinDesk’s Wolfe Chao wrote: “China’s craze for Filecoin may have been largely related to the long-standing popularity of crypto mining in the country overall, which is home to about 65% of the computing power on Bitcoin at discretion.” With Filecoin approaching the launch of the mainnet blocknet — after several delays since the $ 200 million increase in 2017 — Chinese investors are once again speculating strongly about network mining devices and their premium prices. Since Protocol Labs, the company behind Filecoin, released its “Test Incentives” program on June 9 that was scheduled to start in a week’s time, more than a dozen Chinese companies have started selling cloud mining contracts and hardware — despite important details such as economics Mining incentives on the main network are still endless. Sales volumes to date for each of these companies can range from half a million to tens of millions of dollars, according to self-reported data on these platforms that CoinDesk has watched and interviews with several mining hardware manufacturers. Filecoin’s goal is to build a distributed storage network with token rewards to spur storage hosting as a way to drive wider adoption. Protocol Labs launched a test network in December 2019. But the tokens mined in the testing environment so far are not representative of the true silicon coin that can be traded when the main network is turned on. Moreover, the mining incentive economics on testnet do not represent how final block rewards will be available on the main network. However, data from Blockecoin’s blocknetin testnet explorers show that eight out of 10 miners with the most effective mining force on testnet are currently Chinese miners. These eight miners have about 15 petabytes (PB) of effective storage mining power, accounting for more than 85% of the total test of 17.9 petable. For the context, 1 petabyte of hard disk storage = 1000 terabytes (terabytes) = 1 million gigabytes (GB). Filecoin craze in China may be closely related to the long-standing popularity of crypt mining in the country overall, which is home to about 65% of the computing power on Bitcoin by estimation. In addition, there has been a lot of hype in China about foreign exchange mining since 2018, as companies promote all types of devices when the network is still in development. “Encryption mining has always been popular in China,” said Andy Tien, co-founder of 1475, one of several mining hardware manufacturers in Philquin supported by prominent Chinese video indicators such as Fenbushi and Hashkey Capital. “Even though the Velikoyen mining process is more technologically sophisticated, the idea of mining using hard drives instead of specialized machines like Bitcoin ASIC may be a lot easier for retailers to understand,” he said. Meanwhile, according to Feixiaohao, a Chinese service comparable to CoinMarketCap, nearly 50 Chinese crypto exchanges are often somewhat unknown with some of the more well-known exchanges including Gate.io and Biki — have listed trading pairs for Filecoin currency contracts for USDT. In bitcoin mining, at the current difficulty level, one segment per second (TH / s) fragmentation rate is expected to generate around 0.000008 BTC within 24 hours. The higher the number of TH / s, the greater the number of bitcoins it should be able to produce proportionately. But in Filecoin, the efficient mining force of miners depends on the amount of data stamped on the hard drive, not the total size of the hard drive. To close data in the hard drive, the Filecoin miner still needs processing power, i.e. CPU or GPU as well as RAM. More powerful processors with improved software can confine data to the hard drive more quickly, so miners can combine more efficient mining energy faster on a given day. As of this stage, there appears to be no transparent way at the network level for retail investors to see how much of the purchased hard disk drive was purchased which actually represents an effective mining force. The U.S.-based Labs Protocol was behind Filecoin’s initial coin offer for 2017, which raised an astonishing $ 200 million. This was in addition to a $ 50 million increase in private investment supported by notable venture capital projects including Sequoia, Anderson Horowitz and Union Square Ventures. CoinDk’s parent company, CoinDk, has also invested in Protocol Labs. After rounds of delay, Protocol Protocols said in September 2019 that a testnet launch would be available around December 2019 and the main network would be rolled out in the first quarter of 2020. The test started as promised, but the main network has been delayed again and is now expected to launch in August 2020. What is Filecoin mining process? Filecoin mainly consists of three parts: the storage market (the chain), the blockecin Filecoin, and the search market (under the chain). Storage and research market in series and series respectively for security and efficiency. For users, the storage frequency is relatively low, and the security requirements are relatively high, so the storage process is placed on the chain. The retrieval frequency is much higher than the storage frequency when there is a certain amount of data. Given the performance problem in processing data on the chain, the retrieval process under the chain is performed. In order to solve the security issue of payment in the retrieval process, Filecoin adopts the micro-payment strategy. In simple terms, the process is to split the document into several copies, and every time the user gets a portion of the data, the corresponding fee is paid. Types of mines corresponding to Filecoin’s two major markets are miners and warehousers, among whom miners are primarily responsible for storing data and block packages, while miners are primarily responsible for data query. After the stable operation of the major Filecoin network in the future, the mining operator will be introduced, who is the main responsible for data maintenance. In the initial release of Filecoin, the request matching mechanism was not implemented in the storage market and retrieval market, but the takeover mechanism was adopted. The three main parts of Filecoin correspond to three processes, namely the stored procedure, retrieval process, packaging and reward process. The following figure shows the simplified process and the income of the miners: The Filecoin mining process is much more complicated, and the important factor in determining the previous mining profit is efficient storage. Effective storage is a key feature that distinguishes Filecoin from other decentralized storage projects. In Filecoin’s EC consensus, effective storage is similar to interest in PoS, which determines the likelihood that a miner will get the right to fill, that is, the proportion of miners effectively stored in the entire network is proportional to final mining revenue. It is also possible to obtain higher effective storage under the same hardware conditions by improving the mining algorithm. However, the current increase in the number of benefits that can be achieved by improving the algorithm is still unknown. It seeks to promote mining using Filecoin Discover Filecoin announced Filecoin Discover — a step to encourage miners to join the Filecoin network. According to the company, Filecoin Discover is “an ever-growing catalog of numerous petabytes of public data covering literature, science, art, and history.” Miners interested in sharing can choose which data sets they want to store, and receive that data on a drive at a cost. In exchange for storing this verified data, miners will earn additional Filecoin above the regular block rewards for storing data. Includes the current catalog of open source data sets; ENCODE, 1000 Genomes, Project Gutenberg, Berkley Self-driving data, more projects, and datasets are added every day. Ian Darrow, Head of Operations at Filecoin, commented on the announcement: “Over 2.5 quintillion bytes of data are created every day. This data includes 294 billion emails, 500 million tweets and 64 billion messages on social media. But it is also climatology reports, disease tracking maps, connected vehicle coordinates and much more. It is extremely important that we maintain data that will serve as the backbone for future research and discovery”. Miners who choose to participate in Filecoin Discover may receive hard drives pre-loaded with verified data, as well as setup and maintenance instructions, depending on the company. The Filecoin team will also host the Slack (fil-Discover-support) channel where miners can learn more. Filecoin got its fair share of obstacles along the way. Last month Filecoin announced a further delay before its main network was officially launched — after years of raising funds. In late July QEBR (OTC: QEBR) announced that it had ceded ownership of two subsidiaries in order to focus all of the company’s resources on building blockchain-based mining operations. The QEBR technology team previously announced that it has proven its system as a Filecoin node valid with CPU, GPU, bandwidth and storage compatibility that meets all IPFS guidelines. The QEBR test system is connected to the main Filecoin blockchain and the already mined filecoin coin has already been tested. “The disclosure of Sheen Boom and Jihye will allow our team to focus only on the upcoming global launch of Filecoin. QEBR branch, Shenzhen DZD Digital Technology Ltd. (“ DZD “), has a strong background in blockchain development, extraction Data, data acquisition, data processing, data technology research. We strongly believe Filecoin has the potential to be a leading blockchain-based cryptocurrency and will make every effort to make QEBR an important player when Mainecoin mainnet will be launched soon”. IPFS and Filecoin Filecoin and IPFS are complementary protocols for storing and sharing data in a decentralized network. While users are not required to use Filecoin and IPFS together, the two combined are working to resolve major failures in the current web infrastructure. IPFS It is an open source protocol that allows users to store and transmit verifiable data with each other. IPFS users insist on data on the network by installing it on their own device, to a third-party cloud service (known as Pinning Services), or through community-oriented systems where a group of individual IPFS users share resources to ensure the content stays live. The lack of an integrated catalytic mechanism is the challenge Filecoin hopes to solve by allowing users to catalyze long-term distributed storage at competitive prices through the storage contract market, while maintaining the efficiency and flexibility that the IPFS network provides. Using IPFS In IPFS, the data is hosted by the required data installation nodes. For data to persist while the user node is offline, users must either rely on their other peers to install their data voluntarily or use a central install service to store data. Peer-to-peer reliance caching data may be a good thing as one or multiple organizations share common files on an internal network, or where strong social contracts can be used to ensure continued hosting and preservation of content in the long run. Most users in an IPFS network use an installation service. Using Filecoin The last option is to install your data in a decentralized storage market, such as Filecoin. In Filecoin’s structure, customers make regular small payments to store data when a certain availability, while miners earn those payments by constantly checking the integrity of this data, storing it, and ensuring its quick recovery. This allows users to motivate Filecoin miners to ensure that their content will be live when it is needed, a distinct advantage of relying only on other network users as required using IPFS alone. Filecoin, powered by IPFS It is important to know that Filecoin is built on top of IPFS. Filecoin aims to be a very integrated and seamless storage market that takes advantage of the basic functions provided by IPFS, they are connected to each other, but can be implemented completely independently of each other. Users do not need to interact with Filecoin in order to use IPFS. Some advantages of sharing Filecoin with IPFS:
Filecoin and IPFS CIDs share hash specifications.
Use libp2p by Filecoin nodes to create secure connections with each other.
Messaging between nodes and cluster propagation is facilitated in Filecoin by libp2p pubsub.
IPLD use for blockchain data structures.
Use Graphsync to transfer data between nodes.
Of all the decentralized storage projects, Filecoin is undoubtedly the most interested, and IPFS has been running stably for two years, fully demonstrating the strength of its core protocol. Filecoin’s ability to obtain market share from traditional central storage depends on end-user experience and storage price. Currently, most Filecoin nodes are posted in the IDC room. Actual deployment and operation costs are not reduced compared to traditional central cloud storage, and the storage process is more complicated. PoRep and PoSt, which has a large number of proofs of unknown operation, are required to cause the actual storage cost to be so, in the early days of the release of Filecoin. The actual cost of storing data may be higher than the cost of central cloud storage, but the initial storage node may reduce the storage price in order to obtain block rewards, which may result in the actual storage price lower than traditional central cloud storage. In the long term, Filecoin still needs to take full advantage of its P2P storage, convert storage devices from specialization to civil use, and improve its algorithms to reduce storage costs without affecting user experience. The storage problem is an important problem to be solved in the blockchain field, so a large number of storage projects were presented at the 19th Web3 Summit. IPFS is an important part of Web3 visibility. Its development will affect the development of Web3 to some extent. Likewise, Web3 development somewhat determines the future of IPFS. Filecoin is an IPFS-based storage class project initiated by IPFS. There is no doubt that he is highly expected. Resources :
Do you know the outstanding features of ROI coins?
As I know, cryptocurrency traders are making a lot of money today. Many coins had some nice features, but one coin didn't contain everything. But I think ROI coins are essentially coins that combine all the very good features of many great coins into one coin. The focus of ROI coins is on the community and the coin revolves around the people who support it. That is, the coin has an ear that listens to the consensus of the community, and as it moves forward, it changes and evolves based on the input of its backers. You can mine, stake, term-deposit, buy and sell without needing specialized equipment or advanced technical knowledge. Beyond that, you can also get involved by participating in our online community where you can discuss and learn about ROI Coin as well as other topics of interest in the Bitcoin-altcoin world. Features of ROI Coin ROI Coin was designed for simplicity and mass adoption. Because of this it has many great features that will allow it to be easy to understand and use by people who are not necessarily tech-savvy or experienced in altcoins. CPU only mining that is GPU and Asics resistant to favor consumer-grade computers Reasonable 15% APR gains on any coins sitting in the wallet Wallet available for Windows 32 bit, 64 bit and Linux One mouse click mining right from the wallet Fast network transaction processing Automatic peer connecting to synchronize the wallet The wallet displays detailed information on term-deposited coins The wallet has built-in encryption capability The wallet has the built-in backup capability Wallet debug window contains blockchain, network traffic and peers info, and console MIDAS implementation for enhanced blockchain security Website exchange to buy/sell products/services using ROI Coin A coin that gives you triple hybrid capabilities: POW mining POS staking Term Deposits. CPU mineable is ASIC and GPU resistant with prove.n MIDAS hash rate difficulty adjustment. Staking term deposits whether or not you even have your wallet on. Standard POS 15 %, 1 Month Deposit 2.40%, 3 Month Deposit 6.28%, 6 Month Deposit 10.65%, 9 Month Deposit 14.26%, 1 Year Deposit 18.07%. Low inflation rate and great community. Solid wallet versions built for Windows, Linux, and MAC. For people with limited internet, you can stake your coins, then print out a paper wallet and delete the computer wallet. Reimport that paper wallet when you are ready and you'll have the initial balance + full interest payout. So you can simply visit at roi-coin.com
Hello Reddit! I'd like to welcome you all to try Foreman, our miner management platform. Site: https://foreman.mn/ Demo: here What we offer:
Hash rate monitoring
Remotely change ASIC miner pools
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Centralized pool metrics
Alerting when things go wrong
ASIC and GPU support
NiceHash, MiningRigRentals (and AutoMiner), and ProHashing integration
HiveOS, nvOC, Linux, and Windows support
What we support: (user request driven - you ask, we add support) ASICs and FPGAs:
ccminer (and forks)
sgminer (and forks)
suprminer (and forks)
If you're still with us, check us out. Fully free for 30 days! If you have any questions, don't hesitate to hop on our Discord. BitcoinTalk: here Medium: here Twitter: here Open-source: here Happy Mining, The Foreman Team
About the proposed Dev fund change from the perspective of a small BCH miner
So I've read the announcement about the proposal to include a dev fund that will be fed by our block rewards. This proposal is supposedly being introduced with the May upgrade. OK. We had discussions in the past months about this topic, how to fund devs. What I, as a miner, find concerning is the following:
I need more info about this company that is supposed to control those dev funds. Who is controlling this company? How will the funds be directed? How is ensured that the funds will be directed as intended? Why Hong Kong?
who of the dev groups is in favor of this and who isn't?
since we all need to upgrade in May, will we have a chance to upgrade to a client that will not include this change?
Why do I have the feeling that transparency is missing here? My personal opinion as a miner is the following:
funding devs in some way sounds good to me.
funding devs with our own money sounds better than letting a company controlled by shady investors do it sounds good to me
if I cannot chose to back out of this proposed change if I'm not satisfied with how this company is being controlled and supervised, I'm going to be very pissed
I need more Infos! I need statements from each dev team! I hate the fact that things are being prepared and decided behind my back again. That's my five cents. EDIT: Ok this blew a bit up and I am just finding time now to gather more information. So here is some additional info:
The coinbase can contain multiple outputs. Meaning that no protocol change is necessary to enforce this proposal. Miners and pools each have to change the outputs in the coinbase.
This means that the collaborating pools can simply check if the coinbase contains a tx that transfers at least 12.5% (or whatever they decide is adequate) of the Coin Subsidy to the dev fund. They could do this right now, or tomorrow, or in may when we do the hard fork.
I don´t see why some users here start calling this a "soft fork". A soft fork is a change that some miners enforce, some dont. A soft fork is backwards compatible, meaning that the enforcing miners accept blocks from miners that dont enforce the change. The collaborating pools dont intent to accept blocks from miners that dont enforce the dev fund funding. They intend to orphan them.
From what I know now, this all means that unless everyone is on board with this, this will cause a mess in may.
From what I know about mining, I see two scenarios unfolding in May:
Devs and pools and miners and the market all agree that this is a good thing, so all miners will change their coinbase voluntarily and start funding this dev fund for six months. Nothing happens, everything is fine.
The collaborating pools are the only ones orphaning blocks from non participants while the rest of the network accepts all generated valid blocks. This will lead to a blockchain consisting of blocks mined by the 4 pools, and a blockchain consisting of blocks by the entire network. The 4 pools will basically just mine upon themselves, while the rest of the network will include those blocks from the 4 pools that dont contain tx that have already included in their own blocks. Consequently they also have to orphan blocks from the 4 pools.
If both sides are equally supported with hash rate, this will lead to the same mess that we saw during the previous hash war with nchain. The significant difference being that users cannot specifically mark their tx by including a specific op code. Users and exchanges can´t do anything to pick sides. This leads to just one conclusion. This hash war won´t see 2 chains surviving. Its the right of the strongest this time. And we have a small group of people here that believe that they can force everyone to do what they want. I still don´t know if this is good or bad for Bitcoin Cash. I just know this: I don´t like the way this proposal was announced to the public at all. EDIT 2: Deadalnix responded to the proposal - Supports it EDIT 3: My opinion is starting to form after reading deadalnix response. I think I can support this proposal if:
this proposal gets support from the majority of developers
This proposal will get enforced via a protocol change
All dev groups that support and offer a client with this protocol change will be ensured funding
All dev groups that are against this protocol change can split of, taking opposing miners with them
EDIT 4: More thinking. What if we introduce a similar model that has been funding GPU mining development for years?
By chosing the node client, you chose who you fund
A minimum amount is defined to mine with that client by their devs, which can be increased by the miner
The difference to the situation in GPU mining being: Transparency
Competition between dev groups to keep their client up to date and have advantages over other clients will increase
As a side effect we will finally know how many nodes are actually used for mining
It makes sense to me to support the devs whos node client I use. Last Edit: Continue reading here where i propose an idea of how to turn the original proposal into one that does not need a centralized entity.
MSI 1660ti is the best GPU out there in the market which is pocket friendly and also best for mining crypto currency. It has has out of box hashrate of about 22.7 Mhs but i have end up getting above 30.5 Mhs by overclocking it with MSI afterburner making both the mining rig and my system run smoothly. I mine Ethereum with 2 MSI 1660ti graphic cards and i get over 61.8 Mhs which is apsolutely brilliant. Overclocking settings i have used are as follows: Core Voltage: 0% Power limit: 70% Temp limit: 72% Core clock: -170 Memory clock: +1050 Fan speed: 60 My GPU 1 current temp : 49 degree celsius My GPU 2 Current temp : 47 degree celsius You can also download a free crypto browser and start earning free bitcoin today here: https://cryptotabbrowser.com/14685350
Like for real, as if the corruption of Bcash trying to rename Bitcoin to Bitcoin Core and self identify as the "Real Bitcoin" didn't confuse crypto newbies enough, they just confused the F out of them again! Is BCHABC real? Is BCHSV real? Is Scientology real? Who knows! All I know is I want no part of this cluster F.
Conceal Network Anon Defi 450k marketcap - I think this deserves FULL attention.
Some of you will have heard of this project before. For me this is a long term hold and i think it is highly undervalued. Sometimes OLDER is GOLDER. The project is Conceal Network. Anonymous DeFi & Private Communication Name Conceal Network Ticker CCX Symbol ₡ Market Cap - Circa 450k Algorithm PoW, Cryptonight Conceal Difficulty DDA & Zawy's LWMA 3 Privacy Ring Signatures & One-Time Addresses Block Time 120s Transaction Fees 0.0001 CCX Max Supply 200M CCX to be released over 100 years. Circulating supply is 8m. Deposits Up to 4.16% interest rate per year Investments Up to 7.32% interest rate per year Messenger Encrypted Messages and Self-Destructive Messages Premine 6% of the max supply locked over a 5 years interval Block reward Starting on 5 CCX and going up to 15 CCX (+0.25CCX/month). Currently 10.75 CCX. https://github.com/ConcealNetwork Buy at: https://tradeogre.com/exchange/BTC-CCX WHAT IS CONCEAL? Conceal is a decentralized blockchain bank, with deposits and investments paying interest rates, without involvement of financial institutions, powered by 100% open source code. Conceal enables untraceable and anonymous messaging, and a secure way to transfer funds. Using a distributed public ledger, the sender and receiver are kept anonymous, a key concern in a post Snowden world. Hackers cannot trace money or messages when the messages are sent across public networks. Conceal Cryptocurrency (₡CCX) is based on the Cryptonote protocol and runs on a secure peer-to-peer network technology to operate with no central authority. You control the private keys to your funds. Conceal is accessible by anyone in the world regardless of their geographic location or status. Our blockchain is resistant to any kind of analysis. All your CCX transactions and messages are anonymous. Conceal avoids many concerns, e.g. technological, environment impact, reputational and security, of Bitcoin, and provides a glimpse of the future. Conceal is open-source, community driven and truly decentralized. No one owns Conceal, everyone can take part. FEATURES Private Conceal uses ring signatures and one-time addresses for truly anonymous payments Untraceable Conceal's transactions can't be linked between the sender and the recipient Decentralized Conceal follows Satoshi Nakamoto's original vision of decentralized, trustless cryptocurrency, i.e. a secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus, and then recorded on the blockchain immutably. Third parties do not need to be trusted to keep your money safe. Fungible Conceal is truly fungible, thanks to built-in privacy features. Just like cash, all coins are equal, changeable. It is extremely unlikely that a coin will ever be blacklisted by any party due to its association in previous transactions. Scalable Future scalability initiatives will include a modular sidechain. Protected Proof Of Work PoW hash function is designed for egalitarian CPU & GPU mining and ASIC Resistance Adaptive Limits Conceal intelligently adjusts its parameters based on the historical data Encrypted Messages Secure your confidentiality with an encrypted P2P network, secure communications and encrypted self-destructive messages Decentralized Banking Deposits get up to 4.2% interest rate per year and Investments up to 7.2% p.a. They have a wiki that acts like an evolving whitepaper. All of your questions should be answered here as it is updated frequently. https://conceal.network/wiki/doku.php?id=about#conceal_emission Very soon they will publish an anniversary article and reveal some big news. Could it relate to the below.... https://twitter.com/ConcealNetwork/status/1261723775801982976?s=19 "Deposits on Cloud & Mobile is almost here. You will be able to deposit $CCX on Cloud and Mobile soon and earn interest up to 6%! Q3 2020 - Stay tuned." Also please read this exclusive recent interview with the daily chain. https://thedailychain.com/hashr8-privacy-coin-reviews-conceal/
Check your GPU hash rates below. Although an ASIC can be built to provide optimal hashrates on an algorithm, the Graphics Processing Unit (GPU) is much more powerful than the CPU, and more flexible than an ASIC in their application. The GPU is the chip that enables graphics cards (often called GPUs for brevity in mining circles) to perform ... Mining-Hashrate ist eine wichtige Sicherheitsmetrik. Je mehr Hashing (Rechenleistung) im Netzwerk vorhanden ist, desto größer ist die Sicherheit und die allgemeine Widerstandsfähigkeit gegen Angriffe. Obwohl die genaue Hashing-Leistung von Bitcoin nicht bekannt ist, kann sie anhand der Anzahl der abgebauten Blöcke und der aktuellen Blockschwierigkeiten geschätzt werden. Disclosure: Mining metrics are calculated based on a network hash rate of 109,422 GH/s and using a USD exchange rate of 1 ETH = $ 387.521.. Block reward is fixed at 0 ETH and future block reward reductions are not taken into account. 15 Grafikkarten im Mining-Benchmark. Die Teilnahme am Ethereum-Netzwerk setzt einen PC mit Windows, Linux oder Mac OS und mindestens einer ausreichend energieeffizienten und leistungsstarken GPU ... Die GPU hat eine Hash-Rate von ansehnlichen 28 mh/s und verbraucht ebenfalls nicht zu viel Energie. Wenn ihr sie findet, ist sie aufgrund ihres Alters zudem meist etwas preiswerter.
NiceHash Miner 3 or NHM3 (in short) is free software that allows you to connect your PC or a mining rig to NiceHash hash-power marketplace. It enables you to... Favorite GPU For Mining: https: ... HISTORICAL BITCOIN HASHRATE DROP!!! - Duration: 7:52. sunny decree 25,652 views. 7:52. SPACEGOATS ARE YOU FOR REAL? RPM Fan Mail Episode 1 - Duration: 12:35 ... Don't forget: to see if you qualify to be a part of my team for Bitcoin mining leverage, go here to answer a few questions: https://goo.gl/fRM4cK Hash rate is used as the speed indicator of a ... Probability in Bitcoin Mining: The Hashing Function - Duration: 2:56. The Federalist Society 45,627 views. 2:56. How To Increase Your GPU's Mining Hash Rate For Free! - Duration: 5:16. ... The Nvidia GeForce 1660 Super is the BEST budget GPU for mining, but why? Let's review the 1660 super mining hashrates and benchmarks on the most profitable ...