Coinbase Now Supports Tezos Staking Rewards for UK and Some EU Users

Coinbase Now Supports Tezos Staking Rewards for UK and Some EU Users

Major crypto exchange Coinbase is rolling out Tezos staking rewards for users in the United Kingdom and three European countries.


Major cryptocurrency exchange Coinbase is rolling out Tezos (XTZ) staking rewards for users in the United Kingdom and three European countries.

In an announcement on May 28, the exchange revealed that users in the U.K., France, Spain and the Netherlands are now eligible to earn interest on their XTZ holdings for depositing and holding the token on the exchange. According to Coinbase, since this feature was launched in the United States back in November, users have earned over $2 million in XTZ staking rewards.

What is staking?

In blockchains that use a Proof-of-Stake system, staking enables network participants to earn a form of “interest” on their holdings, as long as they are willing to lock up their funds to help maintain the operations of the network. The system works because, as opposed to Proof-of-Work systems such as Bitcoin (BTC), nodes in a PoS network are engaged in validating blocks, rather than mining them. Validators for each block on the network are selected, algorithmically, on the basis of the number of tokens a given node has staked in their wallet — i.e. deposited as collateral in order to compete to add the next block to the chain. Token holders can either use a delegated staking service or actively participate in staking their tokens themselves — or, as in the service offered by Coinbase, use an integrated staking feature on a cryptocurrency exchange. Staking holdings can yield significant percentage returns, depending on the size of the participant’s stake: Coinbase indicates that the current estimated annual return for Tezos staking on the exchange is around 5%.

Staking services, both retail and institutional

Coinbase also supports staking for global investors that use its institutional asset custody arm, Coinbase Custody. On the retail end, major exchanges such as Binance have chosen to launch dedicated staking platforms rather than integrating the feature like Coinbase. Some in the crypto community have in the past criticized the increasing prevalence of centralized staking services operated by leading industry players, as well as pointing to other potential drawbacks of the Staking-as-a-Service business model.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/coinbase-now-supports-tezos-staking-rewards-for-uk-and-some-eu-users

Chris Corey

Blockchain and Smart Contracts Have a Dark Side’ Says Researcher

Blockchain and Smart Contracts Have a ‘Dark Side,’ Says Researcher

The immutability of blockchain ledgers and smart contracts have a “dark side,” argues UPenn professor Kevin Warbach.


Blockchain technology crystallizes the rise of “algorithmic power” that today presents a major challenge to traditional forms of sovereignty, legal authority and state-led governance.

So goes the argument in a new post on the Oxford University Faculty of Law blog on Monday by Kevin Warbach, a professor of legal studies and business ethics at the Wharton School of the University of Pennsylvania. Warbach’s forthcoming book After the Digital Tornado: Networks, Algorithms, Humanity will argue that blockchain technology could wreak unintentional havoc if its characteristics are not understood and tackled directly. For Warbach, the immutability of blockchain ledgers and the use of smart contracts — self-executing software code — have an implicit “dark side.” While they are designed to overcome the weaknesses of human or institutional intermediaries, the alternative they create has

its own inherent tensions:

“Contracts of any consequence are generally incomplete; that is to say, they do not precisely specify outcomes for every possible scenario. Smart contracts magnify this incompleteness. They can only express their terms in sharp-edged software code, eliminating the interpretive discretion of human judges and juries.”

While traditional contracts “backstop” human commitments with the legal force of the state, smart contracts use automated, code-enforced decision-making to establish confidence between parties. Attempting to do away with fallible human governance can be “seductive,” he states. Yet too strong a belief in the “perfectly rational vehicle” of computer code to regulate imperfect real-world behavior can have bad results — without any clarity as to who

has the power to resolve them:

“The dark side to immutability is that valid transactions cannot easily be reversed on a blockchain, not that invalid or illegitimate ones cannot be. Immutability creates the potential for catastrophic failures with no clear means of remediation.”

Blockchain technology more broadly should be addressed as a method of governance, poised on the “knife edge of freedom and constraints,” he writes. The paper concludes by recommending an approach that Warbach calls “governance by design.” This means recognizing that “perfect immutability creates systems with unacceptable fragility” that will require integrating governance mechanisms systematically — not as an afterthought — as the technology evolves.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/blockchain-and-smart-contracts-have-a-dark-side-says-researcher

Chris Corey

VanEck’s MVIS and CryptoCompare Launch Bitcoin Benchmark Rate

VanEck’s MVIS and CryptoCompare Launch Bitcoin Benchmark Rate

VanEck company MVIS and crypto data provider CryptoCompare are launching a new hourly Bitcoin Benchmark Rate.


VanEck company MVIS and cryptocurrency data provider CryptoCompare are launching an hourly Bitcoin (BTC) Benchmark Rate,

which has been developed in close cooperation with cryptocurrency bank SEBA. In an announcement on June 3, MVIS outlined that the new rate aggregates BTC transaction prices on the top five trading venues included in CryptoCompare’s Exchange Benchmark and disseminates each hour. Licensed crypto bank SEBA will be using the new rate to launch further products for the digital assets market. Daniel Kuehne, the bank’s head of asset management,

emphasized:

"It is essential for derivatives on cryptocurrencies to have a representative reference rate which is robust against market distortions and manipulations.”

As reported by Cointelegraph, CryptoCompare’s Exchange Benchmark had launched explicitly in response to the growing concerns sparked by research revealing that a significant number of crypto exchanges worldwide use wash trading and other strategies to artificially inflate trade volumes. Both MVIS’ managing director Thomas Kettner and CryptoCompare CEO Charles Hayter have stressed the need to provide professional investors with high-quality crypto data and indices. This, they state, will ensure that such investors can accurately measure the performance of their crypto exposure and to encourage more confidence in the asset class.

Crypto and the institutional investor class

The development of better datasets and indices to support institutional exposure has steadily emerged as an area of focus over the years. This January, leading Japanese consulting firm Nomura Research Institute partnered with crypto investment solution provider Intelligence Unit to launch a new tradable monthly crypto index, also drawing on data from MVIS. Last month, major industry players claimed they have witnessed an acceleration of institutional interest in the crypto sector, attributing it to factors that included Bitcoin’s recent halving and concerns over possibly inflationary monetary policy in the United States.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/vanecks-mvis-and-cryptocompare-launch-bitcoin-benchmark-rate

Chris Corey

Bexplus Exchange Has Launched Interest-Bearing Bitcoin Deposit Service

Bexplus Exchange Has Launched Interest-Bearing Bitcoin Deposit Service

High annual interest (APR). The annual interest offered by Bexplus looks very attractive compared to the rates from competitors: while Bexplus’s minimum interest is 18%, while most services offer just 4-10%.

Fast withdrawal and no penalties for early withdrawal. Bexplus allows withdrawal at any time and manages all the requests within 1 day. No penalties for early withdrawal used: investors are able to take their coins if they’d change the mind (and still receive the interest).

Low minimum deposit amount. Investors can make a deposit starting from 0.05 BTC. Most lending platforms limit minimal amounts to 1 BTC.

Two-factor authentication and cold storage. Most of the bitcoins are stored in an offline storage system (cold storage), while only a small amount is kept in the hot storage. The platform uses multiple signature access, all the transactions are performed manually by several staff members.

Quick access to trading. Still, Bexplus mainly is a trading platform, so if you want to trade your stored BTC — transaction to the trading account is instant and has no commission fee.

Fast and simple, no KYC requirements. Your interest starts to calculate the next day after you made a deposit. It’s simple to make a deposit and doesn’t require KYC. Bexplus is a Hong Kong-based company providing traders with outstanding crypto trading services since 2018. The platform offers secure trading solutions and such features as a trading simulator, quick withdrawal, and various activities. Among the traded cryptos are bitcoin, ether, lite coin, and many more.

Article Produced By
Ionela C.

https://theccpress.com/bexplus-exchange-has-launched-interest-bearing-bitcoin-deposit-service/

Chris Corey

Cryptocurrency Exchange Website Buybitcoins Rolls Out New Marketplace

Cryptocurrency Exchange Website Buybitcoins Rolls Out New Marketplace

Lavinia C.Created by a group of businessmen to offer a global financial market for peer-to-peer cryptocurrency exchange,

Buybitcoins aims to make the buying and selling process more accessible for everyone. The step-by-step process is designed to help all users from absolute beginners to experienced old hands conduct secure transactions quickly. Buybitcoins is based in the LA, California USA and wants to make cryptocurrency as accessible as possible to the widest possible audience, including users who are much less tech-savvy. To do this the operation has gathered a group of specialists in finance, economics, marketing and technology. What they all share is a passion for blockchain technology. Together they have developed an effective platform to support companies that truly believe in bitcoin and all the other cryptocurrencies. To ensure that client funds are kept as secure as possible the site has been developed based on the highest security standards. This not only guarantees transparency but also the transactionality of all users.

Each user will gain a reputation as he or she generates more transactions. This will lead to credibility by allowing them to constantly interact with the system and available crypto actives. Users are provided with user-friendly wallets. This enables the easy management of their accounts. They can transfer and generate payments to other users in the same system anywhere in the world. To democratize the use of crypto actives, anyone can access and offer their cryptocurrencies. They can also create a place for easy exchange. Chat and customer service 24/7: We focus on our users having the best online support. We focus on generating the greatest support in real-time through our chat and physical offices. Buybitcoins is already recognized as being among the top platforms in the world in terms of cryptocurrency transactions. It makes the exchange of cryptocurrencies, including Bitcoin, Bitcoin Cash, Etherum and Ripple, possible between small, medium-sized companies, large corporations and individuals.

What Buybitcoins offers, safely, simply and in an agile manner, is a direct exchange through electronic payments. The Buybitcoins wallet has tools that make it possible to triangulate operations with double guarantee deposits. This gives a much greater level of security for those people who like to send money remittances in any currency. Operating directly with other people through buybitcoins makes transactions faster and more agile. This enhances user experiences during the buying or selling of cryptocurrencies. There is a 24-hour seven days a week chat service so if users cannot find answers to any of their questions, the Buybitcoins support team is only a click away and can provide direct assistance.Support agents from our team of specialists can also offer in-depth information on all supported cryptocurrency projects. This makes it possible for users to learn a lot more about their favorite coins.

Article Produced By
Lavinia C.

https://theccpress.com/cryptocurrency-exchange-website-buybitcoins-rolls-out-new-marketplace/

Chris Corey

Increased Demand Requires Increase in Nodes Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

Increased Demand Requires Increase in Nodes. Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

As bitcoin adoption soars during the global crisis, miners are needed.

Here’s how you can cash in on crypto while staying at home. The novel coronavirus has brought about a new way of living in almost every conceivable regard. To how we interact with friends and loved ones, to how we work, and how we earn an income. In its wake, the virus has already begun to cripple our collective health and the health of many economies, which has left a number of us looking for better ways to earn a living, comfortably from our homes.

It has also left many heading online to begin trading in digital currencies. Focused exchange platforms, like Bitvavo, have noticed a stark uptick in existing user interaction, as well as new accounts. Whether this is due to a faltering trust in standard global financial systems, or just because we all have a bit more time on our hands is so far unknown. What is known is that with increased interaction and user adoption- more transactions will need to be validated and added to the blockchain than ever before. Which translates to a need for miners. This comes as great news, as bitcoin is realistically the only financial asset that can operate and maintain remotely. In fact, that’s the entire basis of the network’s structure.

What is Mining?

Mining is a term used to describe how transactions are validated and added to the blockchain. To appropriately expand on that, you’ll need a bit of knowledge on how bitcoin works at its core.

Decentralized Public Ledger System

The blockchain is bitcoin’s ledger system. It’s where the checks and balances are stored, each and every transaction that occurs on the network is stored within the blockchain- effectively making the transactions public, transparent, and verifiable. All without the need for a centralized authority. Each time a transaction is made on the network, independent computers that function as part of the entire network (nodes) work to solve complex mathematical equations. If these equations are able to be solved, it proves that the transaction was real and unique. Verifying the transaction itself. As each transaction is verified, it is added to the blockchain, where it can be publicly viewed by anyone on the network. Each verified transaction is completely immutable and time-stamped. Ensuring continued transparency and authenticity.

Verifying Transactions

The nodes that work to verify transactions are owned by people. Those people are called “miners”. They get this name because each time a transaction is verified, the person that owns the node that solved the equation is rewarded in newly minted bitcoin. Sort of like a prospector mining gold from a vein.

Payment for Work

This payment helps to incentivize people to continue to relegate their computing power to verify transactions. Further distributing the responsibility of verification throughout the entire network. Solidifying the decentralized nature of bitcoin.

Source: BitcoinWiki

This system of verification is called “Proof of Work”. In a proof of work system, all nodes on a network race to be the first to solve the mathematical equation. The node that comes up with the solution first, reaps the reward. In proof of the work environment, it’s not necessary for anyone node to be in any one place. Which makes it easy to mine at a distance, or even comfortably from your own home.

How to Mine Bitcoin

Mining bitcoin can be a bit tricky to get started if you’re not particularly tech-savvy. Tricky, but not impossible. The equipment needed to mine bitcoin has evolved nearly as quickly as bitcoin itself- in little over 10 years, time-consuming, energy-gobbling, clunky hardware has been replaced with a sleek and efficient purpose-built piece.

Source: BusinessInsider

While innovations in mining technology continue to emerge, it seems that the industry may be slowing down as it comes closer to reaching an equilibrium. Currently, two options of mining exist Cloud Mining and Personal Hardware Mining.

Source: bitmoneytalk.com

With the cloud mining route, hopeful miners choose a company through which they “rent” mining hardware. Essentially, through these companies, cloud miners will pay for someone else to mine for them using their own hardware. Similar to a type of crowdfunding. This “rental” investment will generally be paid out in bitcoin. When choosing a cloud mining company, it’s important to do your research and personally vet any company you plan on working with. Each company will have a different setup for how their operation works, rental terms, and how you will be paid. Each company will walk you through their process and lead you through the necessary steps you will need to take to begin cloud mining.

Personal Hardware Mining

Choosing to mine with personal hardware is an expensive choice if you don’t already have access to cheap electricity supply, powerful network connection, and decent access to hardware. Before you begin the process of purchasing a personal mining setup, it’s advisable to use a bitcoin mining calculator to see if the cost of investment versus payout from mining will be profitable. Modern mining is almost exclusively done using ASIC hardware. This Application-Specific Integrated Circuit hardware is a microchip that is purpose-built for mining. While these processors are extremely efficient, even the best hardware only produces about $10-$30 of profit per day. So expensive setups and high energy costs can make it cost-prohibitive to choose this route.

Article Produced By
Ionela C.

https://theccpress.com/increased-demand-requires-increase-in-nodes-heres-everything-you-need-to-know-about-bitcoin-mining-during-lockdown/

Chris Corey

What you need to know about Bitcoins

What you need to know about Bitcoins

The world has come to an era where most people prefer making transactions

and payments in a digital setting. This involves carrying out digital transactions from one account to another. The FIAT currency refers to a system of money accepted all around the world. Different types of FIAT currency have established exchanges within the system. Cryptocurrencies are a new system, just like the FIAT currency system except that it is digital. Generally, cryptocurrencies refer to Bitcoins due to their popularity in the world. Here are some of the Bitcoin details.

Digital Currency

Bitcoins are decentralized digital currencies without a central bank or single administrator. It is electronic cash that is used to make transactions that include purchasing items and also conducting trade. As said before, the Bitcoin system does not have any central governing principles involved; therefore, digital tokens are sent directly from the sender to the recipient.

History of Bitcoins

Satoshi Nakamoto published a paper on Bitcoin in the year 2008. This paper suggested the establishment of a method for carrying out financial transactions in a peer to peer mode using electronic cash. As FIAT currency stays in personal bank accounts, Bitcoins also have a place to be kept. Cryptocurrency wallets such as the mobile wallets, paper wallets, desktop wallets, online wallets, and hardware wallets are used to store Bitcoins. These wallets not only keep your Bitcoins but also ensure security and give an allowance of executing transactions with your Bitcoins and other cryptocurrencies.

Blockchain Network

It is essential to know that the Bitcoins are not real assets to store; instead, they are virtual addresses stored. The whole system involves a built network called Blockchain, whereby there is the addition of individual blocks whenever a transaction is carried out. It is, therefore, easy to follow the entire history of transactions. Moreover, no one can interfere with the sequence of the chain or even remove a block. The chain only adjusts when there is an addition of a new block. Another thing to note is the presence of the private key, which is a link to your cryptocurrency account or wallet. The role of the private key is to maximize security for your assets.

Exchanges via Bitcoins

You can acquire Bitcoins by looking for credible exchanges via Bitcoins ATMs and Bitcoin mining. It is only the owner of Bitcoins that can make any Bitcoins transactions. During the initiation of a transaction, the validity of the chain would be verified to ensure that no one uses expired Bitcoins. After the transaction is approved, there is usually the addition of a new block to the chain.

Conclusion

In conclusion, the increased demand for Bitcoins has caused the scarcity to supply. This makes the value of Bitcoins to appreciate, making it a big deal to have and to use it now. Bitcoins have already made it big, and it is, therefore, advisable to invest now.

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/what-you-need-to-know-about-bitcoins/

Chris Corey

5 Key Reasons Why Your Business Should Accept Bitcoin Help grow your business by accepting bitcoin Keep reading for 5 key reasons why your business should accept bitcoin

5 Key Reasons Why Your Business Should Accept Bitcoin

Help grow your business by accepting bitcoin. Keep reading for 5 key reasons why your business should accept bitcoin.

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Bitcoin hit the market with a bang.

The idea of a decentralized currency opened up opportunities for people and countries to freely trade in the market. Revenue rose to unimaginable levels thus begging the question, is it worth a long-term investment? Many businesses use standard, traditional modes of payment. But a new wave comes to light, where the Bitcoin can be used to grow your business. Read further and learn about five reasons why your business should accept Bitcoin.

Why Accept Bitcoin?

Cryptocurrencies like Bitcoin introduced a simpler and easier way of money transfer. The simple implementation and setup process allows Bitcoin to be stronger and bigger than any other merchant payment system. The currency can do wonders for your business, not only in marketing but also in every aspect of your business. Find out more about its benefits.

1. Customer Diversity

Modern forms of payment such as PayPal, credit card, debit cards, Google pay, and others have opened up businesses for many. The possibility of a safe and secure payment module from your business attracts clients and customers. Especially for e-commerce companies, accepting Bitcoin could be the best decision ever. Not only because it increases the forms of payment, but also because it brings diversity to the business. Learn more about how Bitcoin can change your e-commerce site. Regardless of the state, country, region, or continent, the Bitcoin allows for easy and fast transaction. Adding that option to your business is an excellent solution to higher human traffic.

2. Low Inflation Risk

Using Bitcoin is a risk because of the possibility of black market money. Even so, it’s still a viable option for your business because it poses zero risks on inflation. This means, by no chance will the money come in excess. The investment will be worthwhile for either buyers or sellers. Less risk is a huge enough factor to consider why your business should accept Bitcoin. During a time of crisis or war, such a volatile currency is what you need.

3. Cheaper Transaction Costs

Did you know running credit card expenses is approximately 3%? While for the Bitcoin is only 1% with a chance of being lower, depending on your volume of transactions. In every business, the sole purpose is to make a profit. As so, if there’s any way you can avoid losing any more of your profit, then it’s a suitable choice for your business. There are many benefits of accepting Bitcoin, which mostly translates to cheaper payments for you. Retaining Bitcoin allows for lower fees and less general expenses you may not have with credit card merchant payments.

4. Fast and Easy Payments

The standard modes of payment like the debit and credit card can take about three to five days to reflect on a purchase made on goods and services. This can cause delays in your speed of sales meaning less revenue earned. The advantage of accepting Bitcoin for your business is that the cryptocurrency isn’t regulated by banks. Hence, payments are instant. Things are done within minutes with nothing to worry about.

5. International Acceptance

Your brand can earn global acceptance just by understanding what is Bitcoin. This is because this currency builds and shapes brands, making them relatable to people all over the world. Similar to what Adobe Spark’s Logo creator does to design a unique logo for your business and make it unique to your target audience. Using Bitcoin for your business can do the same for you.

Build Your Business with Bitcoin

A change from traditional modules of payment can be a hard step to take. The uncertainty you face, if you’ll be benefiting your customers or just yourself, can render you resistant to change. But Bitcoin is different. This new revolution allows your business to grow globally, connect with people all over, and operate using low costs. It’s time to make the change for better business.

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/5-key-reasons-why-your-business-should-accept-bitcoin/

Chris Corey

What is Ethash?

What is Ethash?

Isn’t it crazy how cryptocurrencies have only been around for about a decade

yet we have hundreds of cryptocurrency terminologies? Being a crypto-enthusiast myself, I know how difficult it can be to keep up with all the new terminologies. So maybe you have come across this term before and you would like to understand it further. Come with me as I explain Ethash to the best of my ability.

So what is Ethash algorithm?

Ethash is a proof-of-work (PoW) mining algorithm that is implemented by the Ethereum network and other Ethereum-based cryptocurrencies. Each Ethash GPU miner requires 1+ GB of RAM. Proof of work mining secures distributed networks and processes blocks of transactions on the blockchain. It involves taking data from a block and then repeatedly hashing that data using a cryptographic hashing algorithm. The result is an output of fixed length that represents the hash value. Miners end up with several variations of the data input. So in the case of Ethereum, the algorithm used for this process is Ethash. Ethash was developed as an upgrade of its predecessor called Dagger-Hashimoto to remove computational overhead.

The Ethash algorithm is used to dynamically adjust the mining difficulty of the blockchain that implements it. It does this by determining roughly how much computational resources should be spent for a miner to find the nonce that allows them to propose a new block to add to the blockchain. This algorithm follows a route in which a seed can be computed for each block by scanning through the block headers. This route can compute a 16 MB pseudocode cache which is then stored by light clients. Eventually, the cache is generated into a 1 GB dataset and stored by miners and full clients. The dataset progresses linearly over time while being verified until it is updated. Large datasets are updated once every 30,000 blocks. The details of an Ethash cache and datasets are determined by the block number, which is that the cache and dataset sizes grow linearly.

ASIC miner controversy

Ethash was designed to be ASIC-resistant and efficiently verifiable by a light client. What that means, is that Ethash was developed with a strong focus on the protection from ASIC miners. ASIC stands for Application-Specific Integrated Circuits. Unfortunately, the outstanding popularity of Ethereum led to an increased interest of ASIC developers in manufacturing Ethash compatible miners. In 2018 the first ASIC Ethash miners for Ethash (the ASIC-resistant) were announced by Bitmain. However, the Ethereum project community opposed this move strongly, due to fear of over-influence from Bitmain. As a result, discussions to brick the devices force ASUC miners into hard-mode mining, or to expedite the development and eventual release of Casper. Such inconsiderate proposals finally made ASIC miners conceal their presence and lower the cashing power of their devices. Lastly, the Ethereum plan to switch from Proof-of-work to proof-of-stake hybrid makes ASIC Ethash development a very risky investment.

Even though Vitalik Buterin, the co-founder of Ethereum does not consider ASIC miners to be a threat to Ethereum, there are plans to change the operation mode very soon. On a future hard fork yet to be released, ETH will produce all new blocks with a PoS through a separate design of Casper called Casper the Friendly GHOST or Casper Correct-By-construction. In a nutshell, Ethash has been made ASIC-resistant to make the mining process open. And the implementation of a Proof-of-Stake structure will make the Ethereum mining obsolete.

Ethash Mining

Ethash mining can be conducted using the CPU and the GPU. Note that Ethash-based cryptocurrencies differ in their demands on the mining. Below is an illustration of Ethereum, being the most popular of Ethash implementations. The first thing you need to be able to start mining ETH is a fully synched cryptocurrency client that is enabled for mining and at least one ETH account. You could also need a wallet or an account in a specific network depending on the cryptocurrency.

CPU mining

This option is no longer profitable because GPU mining is two times more efficient. However, it is still good for first-time mining attempts or when you intend to mine a small number of coins to power smart contracts. Ethereum CPU mining is performed with an Ethereum client called geth which is a program that connects the ETH network with the gear of the miner. The coins which are mined are sent directly to the miners’ Coinbase address within a network.

GPU mining

This happens to be the best possible option for Ethash, Ethash being memory-hard and needing at least 1-2 GB of RAM on each GPU used. There are two types of GPU mining which are AMD GPUs and NVidia GPUs. To start GPU mining, you first need to download Ethminer which is an Ethash miner suitable for every Ethash-based crypto. There are several forms of Ethminer available e.g. CLI, GUI, and Ethminer.

Pool mining

This is another available option, and it is applicable for most Ethash cryptocurrencies. Pools often require miners to pay some fees around 1% – 2% of the income. It is the best mining option when you have mediocre gear.

Ethash Coins

The most popular Ethash-based Blockchain is the Ethereum network. Ethash was developed by the Ethereum foundation purposely to build its network. The very first blockchain was forked after the Dao was hacked due to its smart contract-related vulnerability. This split the project up in two different blockchains with their cryptocurrencies, Ethereum (ETH) and Ethereum Classic (ETC). Ethereum classic is no longer under the development of the original Ethereum team. ETH is the main platform for creating tokens and decentralized-applications with their cryptocurrencies. Here are some of the independent cryptocurrencies with their Ethash-based blockchain with minable crypto according to CoinGuides.

  • Metaverse (ETP)
  • Expanse (EXP)
  • Musicoin (MUSIC)
  • Ellaism (ELLA)

Ethash mining calculator

A mining profitability calculator helps you to find the cryptocurrency versus traditional currency e.g. the USD return depending on your hash rate, electricity cost, and power consumption. You can know just how profitable the mining of specific cryptocurrencies is. In very few steps you can understand the potential earnings of your hardware. A good profitability mining calculator has either a GPU coin or ASIC coin miner.

I understand that as a new trader you may find it difficult to know which calculator is the best for you. I mean when you search for ‘best profitability calculator’ on google, you are going to end up with tens or even hundreds of options. My recommendation would be Minerstat, which is a crypto mining monitoring and management platform for ASICs, GPUs as well as FPGAs. The Minerstat calculator has a very friendly user interface, you enter your power consumption details, your currency version, your hash rate, and electricity cost and just like that you can know your reward calculation which is computed within less than a second.

Just don’t forget that results from the mining calculator are and estimation strongly based on the current difficulty, block reward and exchange rate for the particular coin of interest. Therefore, ensure that you conduct enough research before invest because errors do occur and your investment decisions should never be based solely on the results of a profitability calculator.

How do you mine Ethash? 

Mining ethash is a pretty simple process. And even can you do it with your own computer. First of all, there are to ways that you can do it. The first would be to mine Ethereum (ETH) only, which can be mined with your GPU:

Step 1 – Make sure your GPU has its drivers up to date
Step 2 – Get an Ethereum (ETH) wallet ( Metamask recommended)
Step 3 – Join an Ethereum mining pool and start mining

From here, you need to check that your wallet address is correct and see how much you mine daily. Usually, with a good GPU, you can earn between $2 and $6 per day in revenue. But if you wanna mine more than Ethereum, there are certain miners that can help you mine easily with a software. The process is fairly easy and we’ll present it below

Step 1 – Do a bit of research about the best miners out there. ( You can check out more in our article here)
Step 2 – Install the required software and configure it with your digital address ( Attention: some miners would pay you in BTC which you can convert afterwards in ETH or other cryptocurrency that you want. Make sure you put up a correct address )
Step 3 – You’re all set! Now you can check what is your mining power, your profit per day and test alternatives to find the best paying one. Also, make sure your GPU doesn’t overheat

Article Produced By
Zerocrypted

https://zerocrypted.com/what-is-ethash/

Chris Corey

The Technology used for the Digital Currency

A currency that does not have a mediating institution like governments or banks is completely free.

As a result, a government cannot stimulate its inflation, for example, by “printing” more bills. For this reason, the market itself with its supply and demand law will dictate the dynamics of Bitcoin.The lack of mediation on the part of a financial institution also reduces the values ​​for transactions and speeds up the speed of the procedures.You spend on transport to the bank and in addition to the time spent on transportation Currently online transactions require mediation from financial institutions, with Bitcoin the process will be as simple when buying a product with a banknote in a physical store: Imagine buying a shirt for R $ 50.00 at a physical store: you hand over a ballot with that amount, withdraw your product without the need for a bank to mediate the purchase. Likewise, it is the virtual transaction with cryptocurrency, that’s why it has become more popular; it is cheap and fast because it is P2P.

Bitcoin blockchain and way to use it

Just as a Real note has protection technologies, virtual money must also have it. Real’s new banknotes have holographic stripes, high relief, fluorescent elements, security wire, watermark, puzzle, microprints and a hidden number; it’s a lot of technology to prevent counterfeiting isn’t it!? Likewise, so that virtual money is not cloned, it is protected by a set of principles and techniques called cryptography. Cryptography: it is a set of techniques that aim to encrypt information so that it can only be read by those who know the code, ensuring the security of the information. To make a metaphor, it would be like sending a locked chest to a friend by means of a messenger: he will take the chest to the other person, but he cannot open it, only his friend who has the key will be able to see what is inside. Use bitcoin-up.live for the all kind of the bitcoin trading needs.

Why does Bitcoin use the P2P system?

Bitcoin is an online currency with P2P (peer to peer) payment traffic, meaning that it does not need a central intermediary server. What is the advantage of this? Think of traditional financial transactions In addition, the data related to the transactions are stored until they can be validated by the so-called miners and this process happens in a transparent way: the code is free, so it is possible for anyone to access the information to check its validity. In the digital environment, data can be copied, changed and exchanged. The blockchain was the solution to eliminate the first two characteristics: a person cannot spend 1 BTC twice or say that he sent you 10 BTC but transfer only 0.01 BTC Essentially, the hash takes a large amount of data and turns it into a small amount of information. It is the “fingerprint” of some file, or, in the case of the blockchain, of a block. In this chained block system, this fingerprint is essential.

The hash will sign the contents of the block; if any information is changed, the hash changes. When you generate a new block that also contains the hash of the previous one, it creates a kind of seal: it is possible to check and signal if any block has been altered, to then invalidate it. So P2P (peer to peer) system used in bitcoin make it easy to do transactions. Each blockchain network also has “nodes”, which group participants who have the same interest; in bitcoin, it’s transferring money. These nodes can be either transactional, which write or generate blocks, or miners, who check whether the written block is valid. The computational process required for mining actually involves adding hardware that continually and The blockchain is so secure by a proof of work consensus (PoW) mechanism that uses processing power to solve very complicated mathematical calculations to ensure that the block’s cryptographic hash is valid. When someone solves the operation and manages to validate the block, he receives a reward – the other people in the network can also confirm that the result is correct.

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Zerocrypted

https://zerocrypted.com/the-technology-used-for-the-digital-currency/

Chris Corey