Nanopool Review 2020 - Is It Really Safe To Use?

Ethereum Classic

Ethereum Classic is an open, decentralized, and permissionless public blockchain, that aims to fulfill the original promise of Ethereum, as a platform where smart contracts are free from third-party interference. ETC prioritizes trust-minimization, network security, and integrity. All network upgrades are non-contentious with the aim to fix critical issues or to add value with newly proposed features; never to create new tokens, or to bail out flawed smart contracts and their interest groups.

Classic Ether Market & Trading Discussion

Ethereum has forked and moved to a new chain. This sub is for the discussion of the Ethereum chain which didn't move the coins.

My personal experience with Innosilicon A10 Pro (6G) 500Mh ASIC ethash miner

EDIT : This is about the 5G version, not the 6G.
Since there is not much consumers tests online about the Innosilicon A10 (Ethmaster) Pro (5G) at 500Mh, I decided to share my personal experience through an "anonymous" account.
I bought it around April 2020, arrived in May but for personal reasons I was only able to turn it on this summer :(
The A10 costs me 3242 € + 70 € power supply (Innosilicon 1400W Power Supply) + shipping. I will not reveal where I bought it because this is not an ad, but it was through an european ASIC miner reseller.
I know Ethereum 2.0 is coming and I'm aware this is a gamble. I would not advise you to buy it now, especially knowing Eth 2.0 is really coming now, DeFi is pushing at the gates and I heard rumors there is a 750Mh version coming up.
So, it is my first ASIC miner, I did some ZEC mining with a 4 x 1080Ti mining rig two years go.
EDIT : EthToDoge pointed out in the comments that the A10 isn't an ASIC technically speaking
The A10 is basically a box crammed full of laptop GPUs and some custom firmware and made to look like the Bitcoin ASICS. [Check out the comments for more information]
The A10 mining chains reboots itself every 9 hours on average. When the A10 reboots, it goes into an autotuning mode which can take up to 2 hours, but usually around 1h. When in autotuning, it starts at 0Mh and goes to it's full speed after the autotuning, not mining much during this phase because the autotuning mode causes a lot of invalid shares, up to 20% and going down to 3% when tuning is completed.
The chains temperature are around 63°C, I don't know if this is the reason of the reboot. I'll try later on to get a better air flow. I fixed the temperature issue I had by placing in a better ventilated location, temperature is now around 53°C but that didn't fixed the reboot issue.
miner web interface, you can see the hashrate drop due to the random reboot
Performance settings
I tried balanced and factory modes, and I didn't saw much differences in the reported speed. In a near future I'll have a try with the performance mode but I will monitor the power consumption when trying since the A10 warns me to pay attention to that when I want to enable performance mode in the web interface. The performance mode consumes around 10% to 15% more electricity than the factory mode, without noticing any difference in the hashrate or stability. I didn't had proper tools to measure the power consumption, my A10 was plugged in an UPS and it's load went from 43% usage to 55% so I'm assuming the difference is the extra power consumption.
Changing performance settings causes the miner to go into autotuning.
The firmware check is working, but I didn't manage to use the autoupdate. I had no problem to manually download the firmware and upload it, so not really a problem.
My device:
Type A10L
Controller Version g1
Build Date 15th of July 2020 06:13 AM
Platform Version a10l_20200715_061347

EDIT : I upgraded to the new firmware a10l_20200901_053652 but that didn't fixed the reboot issue.

I did some monitoring of the A10, here is how it looks

This is in factory mode on Ethermine (updated on Sept 24th) :
Average hashrate of 455Mh/s while running on ethermine
Hashrate of all chains + total hashrate

This is in balanced mode on Ethermine (updated on Sept 25th) :
Average hashrate of 449Mh/s while running on ethermine
Hashrate of all chains + total hashrate

This is in factory mode on Nanopool (updated on Sept 29th) :
Average hashrate of 502Mh/s while running on Nanopool (note that the double reboot in the middle of the graphic was caused by the change of ETH epoch, otherwise the average hashrate is around 512Mh/s.
Hashrate of all chains + total hashrate
As sweeperAA pointed out, the mining pool really matters.

Quick links :
submitted by xananymous to EtherMining [link] [comments]

Electroneum Mining Earn up to $50 a day on your mobile

While Bitcoin and Ethereum mining is not expensive and not very profitable for regular users, there are a wide variety of cryptocurrencies that offer an alternative. There is nothing simpler than Electroneum mining and it guarantees money.
What is Electroneum?
Electroneum (ETN) is an anonymous cryptocurrency that runs on the blockchain and is based on the Bytecoin cryptocurrency blockchain. Electroneum cryptocurrency was launched in 2017 by a team of developers at the head of Richard Ells: he wanted to create a cryptocurrency for the smartphone market and games and apps running on these devices. In 2017, the team organized an ICO (they collected $ 40 million earlier than planned) and launched iOS and Android apps for ETN mining.
An important feature of Electroneum is its availability and simplicity of counting. Most Bitcoin owners don’t really like that an asset consists of 100,000,000 satoshi — it complicates the calculations. Electroneum uses only two digits after the separator: Instead of “0.089151 BTC” you will see only 21.45 ETN.
Electroneum has what it takes to be a viable alternative to Bitcoin. Some of the features worth mentioning are:
.The transaction speed and security of the coins are as good as Bitcoin (and some even claim that Electroneum is safer). .It can be stored both in the cloud and in offline wallets. .The development team is impressive. The company consists of professional engineers, entrepreneurs and marketers. .It can be easily removed on a smartphone or other device.
In short, although Electroneum is based on its own chain, it has a lot in common with Bitcoin.
Is Electroneum Mining Profitable?
Electroneum cryptocurrency mining is very simple and affordable: those who don’t even have powerful computers can handle it. You can even use Electroneum on the background of the computer. But there is another distinctive point like below. Since Electroneum was created for use by smartphones, you can mining using your mobile phone.This is the most preferred and easiest
How to make Electroneum mining?
Many crypto owners believe that it is better to mine alone without a pool, but beginners are strongly recommended to start cryptocurrency mining with other participants. Pools allow you to receive payments every day, and Electroneum is supported by many platforms that differ in their commissions and reliability.
Electroneum Mining on Mobile Devices (Android and iOS)
You can earn Electroneum using your mobile phone. Follow these steps to install the app and register as a user:
“Download” Barcode reader from this link.
After installing the Barcode reader application on your phone, scan the barcode on the left side
Enter the Code when register the application: D65C7C
Check your email address to find an activation link
Enter your mobile phone. Enter the received SMS code in the field on the registration page.
If you lose your account PIN, enter an alternate email address where you can send recovery information.
Enter your PIN. You will need this every time you start the application or send a transaction.
Return to your inbox and click the link in the letter sent to you. This confirms that you have received a PIN recovery email. You can now enter the application.
This much. All you have to do is click the “Start mining” button.
You started making money
while mining phone
Electroneum Mining on Windows and Mac
Use xmr-stak-cpu software for Electroneum mining on CPU: Claymore provides a higher hash than CPU. The CPU version of this software is available from GitHub.
Download and then open the “config” file via any text editor. You should find the following lines in the text editor:
“Pool_address”: “” “Wallet_address”: “ “Pool_password”: “
They need to be replaced:
“Pool_address”: “layer + ssl: / /” “wallet_address”: “Your ETN wallet address” “Pool_password”: “x”
Then look for the line:
“Cpu_threads_conf”: null,
And replace it with the following lines:
“Cpu_threads_conf”: [ {“Low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 0} {“Low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 1} {“low_power_mode”: false, “No_prefetch: true,” affine_to_cpu “: 2} {“ low_power_mode “: false,” no_prefetch “: true, “Affine_to_cpu”: 3} {“low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 3} {“low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 4} {“Low_power_mode”: false , “No_prefetch”: true, “affine_to_cpu”: 5},],
Each line connects the processor core separately. For example, if you have a 6-core processor, you can connect five cores and leave one for work. It is important that the first line starts from zero. Register and run the software.
Alternatively, you can try Electroneum mining GPU — there are both AMD and Nvidia options, but it means buying expensive graphics cards. The reward for a mined block is 7,000 ETN, which is quite generous. But is GPU mining worth the investment? You can check the profitability of electroneum mining here
Electroneum mining is a simple and energy efficient way to earn ETN tokens. If you’re new to crypto mining, consider starting your experience with this coin — having some ETN coins in your crypto portfolio will never hurt.
Since it is a mobile-centric cryptocurrency, you can install Electroneum application on your smartphone and continue mining with a single click every day. This is a small source of passive income. Also, don’t forget to join an Electroneum mining rig.
submitted by tolga1500 to u/tolga1500 [link] [comments]

Searching for the Unicorn Cryptocurrency

Searching for the Unicorn Cryptocurrency
For someone first starting out as a cryptocurrency investor, finding a trustworthy manual for screening a cryptocurrency’s merits is nonexistent as we are still in the early, Wild West days of the cryptocurrency market. One would need to become deeply familiar with the inner workings of blockchain to be able to perform the bare minimum due diligence.
One might believe, over time, that finding the perfect cryptocurrency may be nothing short of futile. If a cryptocurrency purports infinite scalability, then it is probably either lightweight with limited features or it is highly centralized among a limited number of nodes that perform consensus services especially Proof of Stake or Delegated Proof of Stake. Similarly, a cryptocurrency that purports comprehensive privacy may have technical obstacles to overcome if it aims to expand its applications such as in smart contracts. The bottom line is that it is extremely difficult for a cryptocurrency to have all important features jam-packed into itself.
The cryptocurrency space is stuck in the era of the “dial-up internet” in a manner of speaking. Currently blockchain can’t scale – not without certain tradeoffs – and it hasn’t fully resolved certain intractable issues such as user-unfriendly long addresses and how the blockchain size is forever increasing to name two.
In other words, we haven’t found the ultimate cryptocurrency. That is, we haven’t found the mystical unicorn cryptocurrency that ushers the era of decentralization while eschewing all the limitations of traditional blockchain systems.
“But wait – what about Ethereum once it implements sharding?”
“Wouldn’t IOTA be able to scale infinitely with smart contracts through its Qubic offering?”
“Isn’t Dash capable of having privacy, smart contracts, and instantaneous transactions?”
Those thoughts and comments may come from cryptocurrency investors who have done their research. It is natural for the informed investors to invest in projects that are believed to bring cutting edge technological transformation to blockchain. Sooner or later, the sinking realization will hit that any variation of the current blockchain technology will always likely have certain limitations.
Let us pretend that there indeed exists a unicorn cryptocurrency somewhere that may or may not be here yet. What would it look like, exactly? Let us set the 5 criteria of the unicorn cryptocurrency:
Unicorn Criteria
(1) Perfectly solves the blockchain trilemma:
o Infinite scalability
o Full security
o Full decentralization
(2) Zero or minimal transaction fee
(3) Full privacy
(4) Full smart contract capabilities
(5) Fair distribution and fair governance
For each of the above 5 criteria, there would not be any middle ground. For example, a cryptocurrency with just an in-protocol mixer would not be considered as having full privacy. As another example, an Initial Coin Offering (ICO) may possibly violate criterion (5) since with an ICO the distribution and governance are often heavily favored towards an oligarchy – this in turn would defy the spirit of decentralization that Bitcoin was found on.
There is no cryptocurrency currently that fits the above profile of the unicorn cryptocurrency. Let us examine an arbitrary list of highly hyped cryptocurrencies that meet the above list at least partially. The following list is by no means comprehensive but may be a sufficient sampling of various blockchain implementations:
Bitcoin (BTC)
Bitcoin is the very first and the best known cryptocurrency that started it all. While Bitcoin is generally considered extremely secure, it suffers from mining centralization to a degree. Bitcoin is not anonymous, lacks smart contracts, and most worrisomely, can only do about 7 transactions per seconds (TPS). Bitcoin is not the unicorn notwithstanding all the Bitcoin maximalists.
Ethereum (ETH)
Ethereum is widely considered the gold standard of smart contracts aside from its scalability problem. Sharding as part of Casper’s release is generally considered to be the solution to Ethereum’s scalability problem.
The goal of sharding is to split up validating responsibilities among various groups or shards. Ethereum’s sharding comes down to duplicating the existing blockchain architecture and sharing a token. This does not solve the core issue and simply kicks the can further down the road. After all, full nodes still need to exist one way or another.
Ethereum’s blockchain size problem is also an issue as will be explained more later in this article.
As a result, Ethereum is not the unicorn due to its incomplete approach to scalability and, to a degree, security.
Dash’s masternodes are widely considered to be centralized due to their high funding requirements, and there are accounts of a pre-mine in the beginning. Dash is not the unicorn due to its questionable decentralization.
Nano boasts rightfully for its instant, free transactions. But it lacks smart contracts and privacy, and it may be exposed to well orchestrated DDOS attacks. Therefore, it goes without saying that Nano is not the unicorn.
While EOS claims to execute millions of transactions per seconds, a quick glance reveals centralized parameters with 21 nodes and a questionable governance system. Therefore, EOS fails to achieve the unicorn status.
Monero (XMR)
One of the best known and respected privacy coins, Monero lacks smart contracts and may fall short of infinite scalability due to CryptoNote’s design. The unicorn rank is out of Monero’s reach.
IOTA’s scalability is based on the number of transactions the network processes, and so its supposedly infinite scalability would fluctuate and is subject to the whims of the underlying transactions. While IOTA’s scalability approach is innovative and may work in the long term, it should be reminded that the unicorn cryptocurrency has no middle ground. The unicorn cryptocurrency would be expected to scale infinitely on a consistent basis from the beginning.
In addition, IOTA’s Masked Authenticated Messaging (MAM) feature does not bring privacy to the masses in a highly convenient manner. Consequently, the unicorn is not found with IOTA.

PascalCoin as a Candidate for the Unicorn Cryptocurrency
Please allow me to present a candidate for the cryptocurrency unicorn: PascalCoin.
According to the website, PascalCoin claims the following:
“PascalCoin is an instant, zero-fee, infinitely scalable, and decentralized cryptocurrency with advanced privacy and smart contract capabilities. Enabled by the SafeBox technology to become the world’s first blockchain independent of historical operations, PascalCoin possesses unlimited potential.”
The above summary is a mouthful to be sure, but let’s take a deep dive on how PascalCoin innovates with the SafeBox and more. Before we do this, I encourage you to first become acquainted with PascalCoin by watching the following video introduction:
The rest of this section will be split into 10 parts in order to illustrate most of the notable features of PascalCoin. Naturally, let’s start off with the SafeBox.
Part #1: The SafeBox
Unlike traditional UTXO-based cryptocurrencies in which the blockchain records the specifics of each transaction (address, sender address, amount of funds transferred, etc.), the blockchain in PascalCoin is only used to mutate the SafeBox. The SafeBox is a separate but equivalent cryptographic data structure that snapshots account balances. PascalCoin’s blockchain is comparable to a machine that feeds the most important data – namely, the state of an account – into the SafeBox. Any node can still independently compute and verify the cumulative Proof-of-Work required to construct the SafeBox.
The PascalCoin whitepaper elegantly highlights the unique historical independence that the SafeBox possesses:
“While there are approaches that cryptocurrencies could use such as pruning, warp-sync, "finality checkpoints", UTXO-snapshotting, etc, there is a fundamental difference with PascalCoin. Their new nodes can only prove they are on most-work-chain using the infinite history whereas in PascalCoin, new nodes can prove they are on the most-work chain without the infinite history.”
Some cryptocurrency old-timers might instinctively balk at the idea of full nodes eschewing the entire history for security, but such a reaction would showcase a lack of understanding on what the SafeBox really does.
A concrete example would go a long way to best illustrate what the SafeBox does. Let’s say I input the following operations in my calculator:
5 * 5 – 10 / 2 + 5
It does not take a genius to calculate the answer, 25. Now, the expression “5 \ 5 – 10 / 2 + 5”* would be forever imbued on a traditional blockchain’s history. But the SafeBox begs to differ. It says that the expression “5 \ 5 – 10 / 2 + 5”* should instead be simply “25” so as preserve simplicity, time, and space. In other words, the SafeBox simply preserves the account balance.
But some might still be unsatisfied and claim that if one cannot trace the series of operations (transactions) that lead to the final number (balance) of 25, the blockchain is inherently insecure.
Here are four important security aspects of the SafeBox that some people fail to realize:
(1) SafeBox Follows the Longest Chain of Proof-of-Work
The SafeBox mutates itself per 100 blocks. Each new SafeBox mutation must reference both to the previous SafeBox mutation and the preceding 100 blocks in order to be valid, and the resultant hash of the new mutated SafeBox must then be referenced by each of the new subsequent blocks, and the process repeats itself forever.
The fact that each new SafeBox mutation must reference to the previous SafeBox mutation is comparable to relying on the entire history. This is because the previous SafeBox mutation encapsulates the result of cumulative entire history except for the 100 blocks which is why each new SafeBox mutation requires both the previous SafeBox mutation and the preceding 100 blocks.
So in a sense, there is a single interconnected chain of inflows and outflows, supported by Byzantine Proof-of-Work consensus, instead of the entire history of transactions.
More concretely, the SafeBox follows the path of the longest chain of Proof-of-Work simply by design, and is thus cryptographically equivalent to the entire history even without tracing specific operations in the past. If the chain is rolled back with a 51% attack, only the attacker’s own account(s) in the SafeBox can be manipulated as is explained in the next part.
(2) A 51% Attack on PascalCoin Functions the Same as Others
A 51% attack on PascalCoin would work in a similar way as with other Proof-of-Work cryptocurrencies. An attacker cannot modify a transaction in the past without affecting the current SafeBox hash which is accepted by all honest nodes.
Someone might claim that if you roll back all the current blocks plus the 100 blocks prior to the SafeBox’s mutation, one could create a forged SafeBox with different balances for all accounts. This would be incorrect as one would be able to manipulate only his or her own account(s) in the SafeBox with a 51% attack – just as is the case with other UTXO cryptocurrencies. The SafeBox stores the balances of all accounts which are in turn irreversibly linked only to their respective owners’ private keys.
(3) One Could Preserve the Entire History of the PascalCoin Blockchain
No blockchain data in PascalCoin is ever deleted even in the presence of the SafeBox. Since the SafeBox is cryptographically equivalent to a full node with the entire history as explained above, PascalCoin full nodes are not expected to contain infinite history. But for whatever reason(s) one may have, one could still keep all the PascalCoin blockchain history as well along with the SafeBox as an option even though it would be redundant.
Without storing the entire history of the PascalCoin blockchain, you can still trace the specific operations of the 100 blocks prior to when the SafeBox absorbs and reflects the net result (a single balance for each account) from those 100 blocks. But if you’re interested in tracing operations over a longer period in the past – as redundant as that may be – you’d have the option to do so by storing the entire history of the PascalCoin blockchain.
(4) The SafeBox is Equivalent to the Entire Blockchain History
Some skeptics may ask this question: “What if the SafeBox is forever lost? How would you be able to verify your accounts?” Asking this question is tantamount to asking to what would happen to Bitcoin if all of its entire history was erased. The result would be chaos, of course, but the SafeBox is still in line with the general security model of a traditional blockchain with respect to black swans.
Now that we know the security of the SafeBox is not compromised, what are the implications of this new blockchain paradigm? A colorful illustration as follows still wouldn’t do justice to the subtle revolution that the SafeBox ushers. The automobiles we see on the street are the cookie-and-butter representation of traditional blockchain systems. The SafeBox, on the other hand, supercharges those traditional cars to become the Transformers from Michael Bay’s films.
The SafeBox is an entirely different blockchain architecture that is impressive in its simplicity and ingenuity. The SafeBox’s design is only the opening act for PascalCoin’s vast nuclear arsenal. If the above was all that PascalCoin offers, it still wouldn’t come close to achieving the unicorn status but luckily, we have just scratched the surface. Please keep on reading on if you want to learn how PascalCoin is going to shatter the cryptocurrency industry into pieces. Buckle down as this is going to be a long read as we explore further about the SafeBox’s implications.
Part #2: 0-Confirmation Transactions
To begin, 0-confirmation transactions are secure in PascalCoin thanks to the SafeBox.
The following paraphrases an explanation of PascalCoin’s 0-confirmations from the whitepaper:
“Since PascalCoin is not a UTXO-based currency but rather a State-based currency thanks to the SafeBox, the security guarantee of 0-confirmation transactions are much stronger than in UTXO-based currencies. For example, in Bitcoin if a merchant accepts a 0-confirmation transaction for a coffee, the buyer can simply roll that transaction back after receiving the coffee but before the transaction is confirmed in a block. The way the buyer does this is by re-spending those UTXOs to himself in a new transaction (with a higher fee) thus invalidating them for the merchant. In PascalCoin, this is virtually impossible since the buyer's transaction to the merchant is simply a delta-operation to debit/credit a quantity from/to accounts respectively. The buyer is unable to erase or pre-empt this two-sided, debit/credit-based transaction from the network’s pending pool until it either enters a block for confirmation or is discarded with respect to both sender and receiver ends. If the buyer tries to double-spend the coffee funds after receiving the coffee but before they clear, the double-spend transaction will not propagate the network since nodes cannot propagate a double-spending transaction thanks to the debit/credit nature of the transaction. A UTXO-based transaction is initially one-sided before confirmation and therefore is more exposed to one-sided malicious schemes of double spending.”
Phew, that explanation was technical but it had to be done. In summary, PascalCoin possesses the only secure 0-confirmation transactions in the cryptocurrency industry, and it goes without saying that this means PascalCoin is extremely fast. In fact, PascalCoin is capable of 72,000 TPS even prior to any additional extensive optimizations down the road. In other words, PascalCoin is as instant as it gets and gives Nano a run for its money.
Part #3: Zero Fee
Let’s circle back to our discussion of PascalCoin’s 0-confirmation capability. Here’s a little fun magical twist to PascalCoin’s 0-confirmation magic: 0-confirmation transactions are zero-fee. As in you don’t pay a single cent in fee for each 0-confirmation! There is just a tiny downside: if you create a second transaction in a 5-minute block window then you’d need to pay a minimal fee. Imagine using Nano but with a significantly stronger anti-DDOS protection for spam! But there shouldn’t be any complaint as this fee would amount to 0.0001 Pascal or $0.00002 based on the current price of a Pascal at the time of this writing.
So, how come the fee for blazingly fast transactions is nonexistent? This is where the magic of the SafeBox arises in three ways:
(1) PascalCoin possesses the secure 0-confirmation feature as discussed above that enables this speed.
(2) There is no fee bidding competition of transaction priority typical in UTXO cryptocurrencies since, once again, PascalCoin operates on secure 0-confirmations.
(3) There is no fee incentive needed to run full nodes on behalf of the network’s security beyond the consensus rewards.
Part #4: Blockchain Size
Let’s expand more on the third point above, using Ethereum as an example. Since Ethereum’s launch in 2015, its full blockchain size is currently around 2 TB, give or take, but let’s just say its blockchain size is 100 GB for now to avoid offending the Ethereum elitists who insist there are different types of full nodes that are lighter. Whoever runs Ethereum’s full nodes would expect storage fees on top of the typical consensus fees as it takes significant resources to shoulder Ethereum’s full blockchain size and in turn secure the network. What if I told you that PascalCoin’s full blockchain size will never exceed few GBs after thousands of years? That is just what the SafeBox enables PascalCoin to do so. It is estimated that by 2072, PascalCoin’s full nodes will only be 6 GB which is low enough not to warrant any fee incentives for hosting full nodes. Remember, the SafeBox is an ultra-light cryptographic data structure that is cryptographically equivalent to a blockchain with the entire transaction history. In other words, the SafeBox is a compact spreadsheet of all account balances that functions as PascalCoin’s full node!
Not only does the SafeBox’s infinitesimal memory size helps to reduce transaction fees by phasing out any storage fees, but it also paves the way for true decentralization. It would be trivial for every PascalCoin user to opt a full node in the form of a wallet. This is extreme decentralization at its finest since the majority of users of other cryptocurrencies ditch full nodes due to their burdensome sizes. It is naïve to believe that storage costs would reduce enough to the point where hosting full nodes are trivial. Take a look at the following chart outlining the trend of storage cost.

As we can see, storage costs continue to decrease but the descent is slowing down as is the norm with technological improvements. In the meantime, blockchain sizes of other cryptocurrencies are increasing linearly or, in the case of smart contract engines like Ethereum, parabolically. Imagine a cryptocurrency smart contract engine like Ethereum garnering worldwide adoption; how do you think Ethereum’s size would look like in the far future based on the following chart?

Ethereum’s future blockchain size is not looking pretty in terms of sustainable security. Sharding is not a fix for this issue since there still needs to be full nodes but that is a different topic for another time.
It is astonishing that the cryptocurrency community as a whole has passively accepted this forever-expanding-blockchain-size problem as an inescapable fate.
PascalCoin is the only cryptocurrency that has fully escaped the death vortex of forever expanding blockchain size. Its blockchain size wouldn’t exceed 10 GB even after many hundreds of years of worldwide adoption. Ethereum’s blockchain size after hundreds of years of worldwide adoption would make fine comedy.
Part #5: Simple, Short, and Ordinal Addresses
Remember how the SafeBox works by snapshotting all account balances? As it turns out, the account address system is almost as cool as the SafeBox itself.
Imagine yourself in this situation: on a very hot and sunny day, you’re wandering down the street across from your house and ran into a lemonade stand – the old-fashioned kind without any QR code or credit card terminal. The kid across you is selling a lemonade cup for 1 Pascal with a poster outlining the payment address as 5471-55. You flip out your phone and click “Send” with 1 Pascal to the address 5471-55; viola, exactly one second later you’re drinking your lemonade without paying a cent for the transaction fee!
The last thing one wants to do is to figure out how to copy/paste to, say, the following address 1BoatSLRHtKNngkdXEeobR76b53LETtpyT on the spot wouldn’t it? Gone are the obnoxiously long addresses that plague all cryptocurrencies. The days of those unreadable addresses will be long gone – it has to be if blockchain is to innovate itself for the general public. EOS has a similar feature for readable addresses but in a very limited manner in comparison, and nicknames attached to addresses in GUIs don’t count since blockchain-wide compatibility wouldn’t hold.
Not only does PascalCoin has the neat feature of having addresses (called PASAs) that amount to up to 6 or 7 digits, but PascalCoin can also incorporate in-protocol address naming as opposed to GUI address nicknames. Suppose I want to order something from Amazon using Pascal; I simply search the word “Amazon” then the corresponding account number shows up. Pretty neat, right?
The astute reader may gather that PascalCoin’s address system makes it necessary to commoditize addresses, and he/she would be correct. Some view this as a weakness; part #10 later in this segment addresses this incorrect perception.
Part #6: Privacy
As if the above wasn’t enough, here’s another secret that PascalCoin has: it is a full-blown privacy coin. It uses two separate foundations to achieve comprehensive anonymity: in-protocol mixer for transfer amounts and zn-SNARKs for private balances. The former has been implemented and the latter is on the roadmap. Both the 0-confirmation transaction and the negligible transaction fee would make PascalCoin the most scalable privacy coin of any other cryptocurrencies pending the zk-SNARKs implementation.
Part #7: Smart Contracts
Next, PascalCoin will take smart contracts to the next level with a layer-2 overlay consensus system that pioneers sidechains and other smart contract implementations.
In formal terms, this layer-2 architecture will facilitate the transfer of data between PASAs which in turn allows clean enveloping of layer-2 protocols inside layer-1 much in the same way that HTTP lives inside TCP.
To summarize:
· The layer-2 consensus method is separate from the layer-1 Proof-of-Work. This layer-2 consensus method is independent and flexible. A sidechain – based on a single encompassing PASA – could apply Proof-of-Stake (POS), Delegated Proof-of-Stake (DPOS), or Directed Acyclic Graph (DAG) as the consensus system of its choice.
· Such a layer-2 smart contract platform can be written in any languages.
· Layer-2 sidechains will also provide very strong anonymity since funds are all pooled and keys are not used to unlock them.
· This layer-2 architecture is ingenious in which the computation is separate from layer-2 consensus, in effect removing any bottleneck.
· Horizontal scaling exists in this paradigm as there is no interdependence between smart contracts and states are not managed by slow sidechains.
· Speed and scalability are fully independent of PascalCoin.
One would be able to run the entire global financial system on PascalCoin’s infinitely scalable smart contract platform and it would still scale infinitely. In fact, this layer-2 architecture would be exponentially faster than Ethereum even after its sharding is implemented.
All this is the main focus of PascalCoin’s upcoming version 5 in 2019. A whitepaper add-on for this major upgrade will be released in early 2019.
Part #8: RandomHash Algorithm
Surely there must be some tradeoffs to PascalCoin’s impressive capabilities, you might be asking yourself. One might bring up the fact that PascalCoin’s layer-1 is based on Proof-of-Work and is thus susceptible to mining centralization. This would be a fallacy as PascalCoin has pioneered the very first true ASIC, GPU, and dual-mining resistant algorithm known as RandomHash that obliterates anything that is not CPU based and gives all the power back to solo miners.
Here is the official description of RandomHash:
“RandomHash is a high-level cryptographic hash algorithm that combines other well-known hash primitives in a highly serial manner. The distinguishing feature is that calculations for a nonce are dependent on partial calculations of other nonces, selected at random. This allows a serial hasher (CPU) to re-use these partial calculations in subsequent mining saving 50% or more of the work-load. Parallel hashers (GPU) cannot benefit from this optimization since the optimal nonce-set cannot be pre-calculated as it is determined on-the-fly. As a result, parallel hashers (GPU) are required to perform the full workload for every nonce. Also, the algorithm results in 10x memory bloat for a parallel implementation. In addition to its serial nature, it is branch-heavy and recursive making in optimal for CPU-only mining.”
One might be understandably skeptical of any Proof-of-Work algorithm that solves ASIC and GPU centralization once for all because there have been countless proposals being thrown around for various algorithms since the dawn of Bitcoin. Is RandomHash truly the ASIC & GPU killer that it claims to be?
Herman Schoenfeld, the inventor behind RandomHash, described his algorithm in the following:
“RandomHash offers endless ASIC-design breaking surface due to its use of recursion, hash algo selection, memory hardness and random number generation.
For example, changing how round hash selection is made and/or random number generator algo and/or checksum algo and/or their sequencing will totally break an ASIC design. Conceptually if you can significantly change the structure of the output assembly whilst keeping the high-level algorithm as invariant as possible, the ASIC design will necessarily require proportional restructuring. This results from the fact that ASIC designs mirror the ASM of the algorithm rather than the algorithm itself.”
Polyminer1 (pseudonym), one of the members of the PascalCoin core team who developed RHMiner (official software for mining RandomHash), claimed as follows:
“The design of RandomHash is, to my experience, a genuine innovation. I’ve been 30 years in the field. I’ve rarely been surprised by anything. RandomHash was one of my rare surprises. It’s elegant, simple, and achieves resistance in all fronts.”
PascalCoin may have been the first party to achieve the race of what could possibly be described as the “God algorithm” for Proof-of-Work cryptocurrencies. Look no further than one of Monero’s core developers since 2015, Howard Chu. In September 2018, Howard declared that he has found a solution, called RandomJS, to permanently keep ASICs off the network without repetitive algorithm changes. This solution actually closely mirrors RandomHash’s algorithm. Discussing about his algorithm, Howard asserted that “RandomJS is coming at the problem from a direction that nobody else is.”
Link to Howard Chu’s article on RandomJS:
Yet when Herman was asked about Howard’s approach, he responded:
“Yes, looks like it may work although using Javascript was a bit much. They should’ve just used an assembly subset and generated random ASM programs. In a way, RandomHash does this with its repeated use of random mem-transforms during expansion phase.”
In the end, PascalCoin may have successfully implemented the most revolutionary Proof-of-Work algorithm, one that eclipses Howard’s burgeoning vision, to date that almost nobody knows about. To learn more about RandomHash, refer to the following resources:
RandomHash whitepaper:
Technical proposal for RandomHash:
Someone might claim that PascalCoin still suffers from mining centralization after RandomHash, and this is somewhat misleading as will be explained in part #10.
Part #9: Fair Distribution and Governance
Not only does PascalCoin rest on superior technology, but it also has its roots in the correct philosophy of decentralized distribution and governance. There was no ICO or pre-mine, and the developer fund exists as a percentage of mining rewards as voted by the community. This developer fund is 100% governed by a decentralized autonomous organization – currently facilitated by the PascalCoin Foundation – that will eventually be transformed into an autonomous smart contract platform. Not only is the developer fund voted upon by the community, but PascalCoin’s development roadmap is also voted upon the community via the Protocol Improvement Proposals (PIPs).
This decentralized governance also serves an important benefit as a powerful deterrent to unseemly fork wars that befall many cryptocurrencies.
Part #10: Common Misconceptions of PascalCoin
“The branding is terrible”
PascalCoin is currently working very hard on its image and is preparing for several branding and marketing initiatives in the short term. For example, two of the core developers of the PascalCoin recently interviewed with the Fox Business Network. A YouTube replay of this interview will be heavily promoted.
Some people object to the name PascalCoin. First, it’s worth noting that PascalCoin is the name of the project while Pascal is the name of the underlying currency. Secondly, Google and YouTube received excessive criticisms back then in the beginning with their name choices. Look at where those companies are nowadays – surely a somewhat similar situation faces PascalCoin until the name’s familiarity percolates into the public.
“The wallet GUI is terrible”
As the team is run by a small yet extremely dedicated developers, multiple priorities can be challenging to juggle. The lack of funding through an ICO or a pre-mine also makes it challenging to accelerate development. The top priority of the core developers is to continue developing full-time on the groundbreaking technology that PascalCoin offers. In the meantime, an updated and user-friendly wallet GUI has been worked upon for some time and will be released in due time. Rome wasn’t built in one day.
“One would need to purchase a PASA in the first place”
This is a complicated topic since PASAs need to be commoditized by the SafeBox’s design, meaning that PASAs cannot be obtained at no charge to prevent systematic abuse. This raises two seemingly valid concerns:
· As a chicken and egg problem, how would one purchase a PASA using Pascal in the first place if one cannot obtain Pascal without a PASA?
· How would the price of PASAs stay low and affordable in the face of significant demand?
With regards to the chicken and egg problem, there are many ways – some finished and some unfinished – to obtain your first PASA as explained on the “Get Started” page on the PascalCoin website:
More importantly, however, is the fact that there are few methods that can get your first PASA for free. The team will also release another method soon in which you could obtain your first PASA for free via a single SMS message. This would probably become by far the simplest and the easiest way to obtain your first PASA for free. There will be more new ways to easily obtain your first PASA for free down the road.
What about ensuring the PASA market at large remains inexpensive and affordable following your first (and probably free) PASA acquisition? This would be achieved in two ways:
· Decentralized governance of the PASA economics per the explanation in the FAQ section on the bottom of the PascalCoin website (
· Unlimited and free pseudo-PASAs based on layer-2 in the next version release.
“PascalCoin is still centralized after the release of RandomHash”
Did the implementation of RandomHash from version 4 live up to its promise?
The official goals of RandomHash were as follow:
(1) Implement a GPU & ASIC resistant hash algorithm
(2) Eliminate dual mining
The two goals above were achieved by every possible measure.
Yet a mining pool, Nanopool, was able to regain its hash majority after a significant but a temporary dip.
The official conclusion is that, from a probabilistic viewpoint, solo miners are more profitable than pool miners. However, pool mining is enticing for solo miners who 1) have limited hardware as it ensures a steady income instead of highly profitable but probabilistic income via solo mining, and 2) who prefer convenient software and/or GUI.
What is the next step, then? While the barrier of entry for solo miners has successfully been put down, additional work needs to be done. The PascalCoin team and the community are earnestly investigating additional steps to improve mining decentralization with respect to pool mining specifically to add on top of RandomHash’s successful elimination of GPU, ASIC, and dual-mining dominance.
It is likely that the PascalCoin community will promote the following two initiatives in the near future:
(1) Establish a community-driven, nonprofit mining pool with attractive incentives.
(2) Optimize RHMiner, PascalCoin’s official solo mining software, for performance upgrades.
A single pool dominance is likely short lived once more options emerge for individual CPU miners who want to avoid solo mining for whatever reason(s).
Let us use Bitcoin as an example. Bitcoin mining is dominated by ASICs and mining pools but no single pool is – at the time of this writing – even close on obtaining the hash majority. With CPU solo mining being a feasible option in conjunction with ASIC and GPU mining eradication with RandomHash, the future hash rate distribution of PascalCoin would be far more promising than Bitcoin’s hash rate distribution.
PascalCoin is the Unicorn Cryptocurrency
If you’ve read this far, let’s cut straight to the point: PascalCoin IS the unicorn cryptocurrency.
It is worth noting that PascalCoin is still a young cryptocurrency as it was launched at the end of 2016. This means that many features are still work in progress such as zn-SNARKs, smart contracts, and pool decentralization to name few. However, it appears that all of the unicorn criteria are within PascalCoin’s reach once PascalCoin’s technical roadmap is mostly completed.
Based on this expository on PascalCoin’s technology, there is every reason to believe that PascalCoin is the unicorn cryptocurrency. PascalCoin also solves two fundamental blockchain problems beyond the unicorn criteria that were previously considered unsolvable: blockchain size and simple address system. The SafeBox pushes PascalCoin to the forefront of cryptocurrency zeitgeist since it is a superior solution compared to UTXO, Directed Acyclic Graph (DAG), Block Lattice, Tangle, and any other blockchain innovations.


Author: Tyler Swob
submitted by Kosass to CryptoCurrency [link] [comments]

Vitalik Buterin khuyến nghị tăng Gas Limit cùng thời điểm với fork Istanbul

Vitalik Buterin, đồng sáng lập của Ethereum, đã tuyên bố rằng nếu mọi người muốn tăng Gas Litmit thì: btc là gì
“Tôi muốn khuyên bạn nên bắt đầu một chiến dịch Reddit/Twitter để thúc đẩy những lý do cho tăng gas limit. Trong lịch sử các bể khai thác lớn đã lắng nghe áp lực của cộng đồng”.
Mạng Ethereum đang hoạt động hết công suất với mức sử dụng gas ở mức giới hạn 8 triệu mỗi khối, tương đương 50 tỷ mỗi ngày.
Đó là trong khi phiên bản của các Orphan Block, Uncle Block trên Ethereum đã giảm đáng kể xuống 25% so với mức đỉnh vào tháng 1 năm 2018 khi gas limit không được nâng lên bởi các thợ mỏ.
Khoảng 40% thợ mỏ hiện đang bỏ phiếu để tăng gas limit. Đó là F2Pool và Sparkpool. Chỉ cần Ethermine hoặc Nanopool là có thể tăng được gas limit nhưng Buterin nói rằng có lẽ tốt hơn nên chờ một chút. Anh nói :
“Không rõ rằng liệu bây giờ có phải là thời điểm tốt nhất; Có thể sẽ tốt hơn để thực hiện một cú nhảy gas limit lớn hơn cùng lúc với Istanbul fork khi các opcode có rủi ro lớn nhất sẽ thấy chi phí gas của họ tăng lên. Nhờ đó mà gas limit cao hơn trở nên an toàn hơn.
Istanbul có một số cải tiến liên quan đến gas mà bản thân chúng có thể cho phép nhiều giao dịch được thực hiện trong gas limit hiện tại.
Việc nâng cấp này sẽ phải hoàn thành trong vòng vài tuần ngay trước Devcon, nhưng một số sự chậm trễ do Parity hầu như không thựchiện bất cứ điều gì hiện đã khiến nó có thể phải lùi tới tháng 11. Xem thêm: gia btc hom nay
Các lớp Hybrid thứ cấp
Theo đó thì mạng Ethereum không cảm thấy tắc nghẽn với mức phí chỉ bằng một xu, nhưng thỉnh thoảng một số dapp có quá nhiều giao dịch, do đó tạo ra lưu lượng truy cập một chút.
Tăng gas limit có thể là một giải pháp dễ dàng nhưng một cách hiệu quả hơn có thể là việc sử dụng các lớp hybrid thứ cấp (L2).
Snarks hoặc starks có thể tăng khả năng mở rộng bằng cách thực hiện nhiều hơn với yêu cầu lưu trữ hoặc dữ liệu ít hơn rất nhiều thông qua việc sử dụng các starks lén để xác minh.
Điều này giúp loại bỏ rất nhiều vấn đề mà những thứ như Lightning Network hay Plasma gặp phải. Chính Buterin cũng rất tự hỏi tại sao không kết hợp những snarky stark với Plasma và những thứ tương tự.
Chưa rõ có thể thực hiện điều này như thế nào nhưng Buterin nói rằng một chuỗi Plasma có thể định kỳ xuất bản một số dữ liệu trên mỗi người dùng trên chuỗi, hạ thấp các yêu cầu lưu trữ cục bộ và/hoặc các yêu cầu xác minh.
Tất cả điều này có lẽ sẽ phải thực hiện tại backend của một số ví hoặc plugin Metamask cho người dùng onboard vì trước tiên bạn cần gửi tiền vào hợp đồng thông minh hoặc khóa eth, sau đó bạn chỉ có thể tương tác với những người dùng đó trong hệ thống hợp đồng thông minh đó.
Điều đó có thể có vấn đề của câu đố gà hay trừng có trước liên quan đến việc chấp nhận vì tất cả các lớp thứ hai này đều hữu ích – hoặc thậm chí hoạt động – chỉ khi mọi người tham gia. Tuy nhiên, để mọi người tham gia thì nó phải hữu ích và không hữu ích nếu mọi người không tham gia, vì vậy bootstrapping có thể không dễ dàng.
Để khuyến khích nó, trong bitcoin, họ chỉ thực hiện các giao dịch trên chuỗi đắt đỏ. Về mặt đạo đức, chúng để lại các lớp thứ hai là tùy chọn, với thứ gì đó giống như Plasma dựa trên starks có khả năng hữu ích đặc biệt đối với các dapp vì dù sao bạn cũng phải gửi eth vào đó.
Ưu đãi sẽ giúp người dùng thuận tiện hơn vì với các lớp thứ hai như vậy, bạn sẽ cần ít giao dịch trực tuyến hơn, và do đó, ít phải chờ đợi xác nhận hoặc tính phí.
submitted by NguyenHuy89 to u/NguyenHuy89 [link] [comments]

Insane watt useage while mining eth on asus dual gtx1060 oc card

just installed 4 x AUSU dual gtx1060 6gb oc card on ubuntu, running claymore for mining, 80mh/s in total..great, but 200watt EACH card!..anyone else experienceing this?
setup: - Motherboard: Asus b250 ming expert - gpus: Asus dual gtx1060 oc 6gb - No Tuning, plane plug and play - ubuntu 16.04.3 LTS - Followed this guide: - psu: corsair rm1000i and mining on nanopool, with no tuning arguments
update: rig: power:
submitted by apku04 to EtherMining [link] [comments]

5 reasons not to use blockchain in your project

DeNet team is trying to use blockchain only in case it is necessary in certain situation. If you are eager to decentralization as we do, but still build your business on existing technologies, you should know pitfalls about it:
1. Centralization
78% of Ethereum capacities are controlled by fifth network members
98% of BitcoinCash capacities are belonging to one network member
The majority of cryptocurrency users keep their funds on exchanges.
2. Blockchain limits
If you`ve ever settled Ethereum node, you probably know that its data already passed 700gb and sooner or later it will increase by several times. Therefore users can`t set its node and mine Ethereum legally and it becomes more and more centralized while Ethereum Foundation is trying to solve this problem. There is a lite version of the node, which contains transactions. But it won`t be placed on your computer soon too.
Bitcoin blockchain is a bit better – there are no smart-contracts, but all is limited.
Where this goes now?
Truly decentralization is starting to dribble away, and there will be powerful nodes, that could store a huge data. There are several ways to optimize it. But I'll get to that.
3. Proof of Work & 51% Attack
Mostly blockchain uses proof-of-work algorithm. Simply put it means hash sorting until you get the right one. The main difficulty is that your successful attempts are limited. When the cost of cryptocurrency is growing, more miners start mining it. It means that fewer miners will get a reward.
Users won`t be able to mine at home because of competition with huge capacities. There is a possible result like 51-100% computing capacity, how it was with Bitcoun Cash (one user owns 98% of Network)
In short, “no” to decentralization. It leads to long processing of any your transaction if leader won`t like it.
Similar patterns to Ethereum. Top miners (ethermine, sparkPool, f2pool_2, Nanopool, miningpoolhub_1 ) can afford:
Not to accept transactions with low
To fulfill block with empty transactions
In some cases they can mine difficult transactions
To set up mining software in way to ignore your transactions
Yes, there is no sense in such actions, but they are possible, and it speaks for itself.
4. Block size limits
Recently we used to say «all our data is on blockchain», files are divided, and meta-data is sending to blockchain!
Actually it`s not true. You can`t load to blockchain files if they are more than 1 MB. It is almost impossible because there are a lot of people who want to load something to blockchain. (For ex. To send Ethereum to granny) More users – less space, so price will be too high.
You may only count on 1 KB for your transactions with a high commission.
5. Speed limits
There are not so many people who want to pay huge commission, so you probably have to wait when there will be less transactions. Here is speed limit. In Ethereum block can be generated ones per 15 sec. I saw not more than 357 transactions in one block. You seе? Maximum ~23.8 transactions per second. So you have to wait at least for 305 sec to make a transaction.
In Bitcoin there are 7 transactions per second. So you can wait for hours.
What we can do about it?
Firstly, you should decide, if you really need blockchain or not. How to avoid all these limits, read in our next topics!
submitted by DeNetPro to u/DeNetPro [link] [comments]

Analyzing nanopool's confirmed blocks is alarming.

There are people mining to addresses of other coins such as bitcoin and ethereum with balances of over 40+ pascals. I also see that people are mining to their public keys but no one has given a clear cut answer if it will create accounts after 20 pascals are mined. I'm also currently mining to my public key on nanopool but I worried that I won't get an account after I mine 20 pascals.
submitted by fatlegend to pascalcoin [link] [comments]

Am i too late to the party?

I knew of bitcoin from 2014 Knew of ethereum from 2015
Didnt do anything
I finally found some time during christmas holidys of 2017 to start ether mining
Took a circuitious route from minergate to clymore dual nanopool minning ether and sia
Very disappointed when my son's gaming pc with 1080 has a hash rate of 21mh/s and my 1060 on 5 yr old pc gives 19.5 mh/s I also wonder all this hash rate and gpu is hardly at 3-4% utilization
My current spec is My current spec is 1. ASRock Z77 Extreme4 – Mother board 2. ASUS Windforce OC 1060 – Graphics Card 3. i7-3770K CPU @ 3.50 GHz 4. 8GB RAM 5. CoolerMaster Elite Mid Range 6. PSU is Rs-500-pcar-i3
Thinking of changing power supply to 650 and adding another 1070 for mining ether
But million $ question is am i too late to the party?
submitted by abipur to EtherMining [link] [comments]

Questions about Ethereum and looking after your Ethereum?

Hello, I'm struggling to understand where exactly my Ethereum is being kept safe.
I setup my rig to mine with Nanopool using Claymores, I created a JSON file with MyEtherWallet and used that as the address which i have saved and transfered to a USB stick (Until i get a LedgerNanoS) This is to keep the file free from attack which i assume is what holds the information for my Ether correct? Sorta like the text file is updated with a text string to say i have XXX Ethereum? Is that correct?
Now if i was to transfer Ethereum from Nanopool to my address would i need to plug my USB stick in to a computer, connect to Nanopool and "withdraw" the new JSON file that's been updated? before going to MyEtherWallet to confirm my new JSON file now contains the Ethereum?
Basicly in my head the JSON file contains the Ethereum in a text form?
I'm trying to understand exactly how it works since i've just started and i'm looking at trying to keep my Ethereum from being stolen by keeping the JSON file isolated from my mining rig and my network, only using the USB on a second computer and network to avoid any types of attack along with never allowing MyEtherWallet address/private keys and QRCodes to see the light of day since i don't intend on buying/selling to anyone until the price increases or i really could do with some cash for an upgrade as an example.
Basicly my questions are,
How is Ethereum stored? Where is Ethereum stored? Can i hold my Ethereum in a coffee tin at home away from the internet? What is the best and most secure way to transfer Ethereum from Nanopool to MyEtherWallet then to my coffee tin if possible?
Thank you in advance. Ethereum seems to be a little more complicated compared to Bitcoin which admittedly i only spent 20 minutes reading about years ago.
submitted by JamesTrendall to EtherMining [link] [comments]

I am having trouble getting started mining for Ethereum, can someone help me.

So let's start at the beginning, my PC which I built for video editing and gaming is going unused. I started mining for bitcoin using nice hash but the returns of the program seem low. I was wondering if mining for Ethereum is a better option. I have tried to mine Etherum but everytime I set up nanopool and my wallet nothing goes into the wallet after a day of mining. I was wondering if anyone could help me with directing me what steps I should take to be on my way etherum mining. Thanks and have a great day.
submitted by hottewhells to EtherMining [link] [comments] scam

So, I've gotten into Ethereum mining a week ago because I have a decent rig (GTX 1070) and I've mined my first 0.2 ETH that you need to payout from Nanopool. So then I go to exchange it to Bitcoin, and I use Bter because I used it before and it worked. I exchange it and I go to withdraw it. Then it says that BTC withdrawal is locked. I go to their Twitter site and I see that they say it's locked until July because of their local laws or something. I live in Europe, I don't give a single fraction of a damn about some stupid reasoning and excuses for fraud. I'm fuming with anger because nobody has the right to take my money and put it into a time capsule. If you are employed at Bter and reading this, get your dumb ass over here and help me out. If you're not, what can I do to get it back, can I file a lawsuit, can I report them to police, what? I want to see these disgusting scumbags rotting in jail.
submitted by realjohncenawwe to Bitcoin [link] [comments]

Finom Cloud Mining: Profitable Cryptocurrency Mining Power?

What Is Finom Cloud Mining?
Finom is a cryptocurrency mining company that recently branched into cloud mining. The company calls its cloud mining services “FinCloud”.
Like other cloud mining providers, FinCloud lets you choose a plan, purchase the plan online, and start mining immediately. You get guaranteed mining power, transparent earnings, and easy withdrawals.
Let’s take a closer look at how FinCloud works – and how much you can expect to spend on FinCloud’s plans.
Finom Cloud Mining Cryptocurrency Mining Power Features
Finom advertises all of the following features with its cloud mining plans:
Finom Cloud Mining Packages
All plans listed above are for one year. You can choose a two year option as well, in which case the prices above will approximately double.
FinCloud accepts VISA and MasterCard credit cards as payment.
Who’s Behind Finom Cloud Mining?
FinCloud is the official name of Finom’s Cloud Mining services. The company also operates other online entities in the crypto space, including,,, and
The company is formally organized under the name Finom AG. The company’s goal is to make the world of finance available to everyone. They’re based in Switzerland, but also maintain an office in Scotland.
Beyond cryptocurrency mining, Finom is creating an entire financial ecosystem built on blockchain technology. That financial ecosystem will offer two types of tokens, including a security token called FIN and a utility token called NOM.
Finom has launched 5 projects to date. They have 520,000+ registered users and earned $3.2 million in 2017. You can learn more about the company online today here:
Finom Cloud Mining Conclusion
Finom has launched a cloud mining service called FinCloud. You can purchase bitcoin and Litecoin mining packages through FinCloud, then start mining as soon as today.
Start cloud mining
submitted by SwitchKanun to hashflareinfo [link] [comments]

[TASK] Help me set up claymore dual miner and nanopool

After using nicehash for a while i want to start using a claymore dual miner and nanopool to get actual ethereum. Three hours of research,confusion, and headache made me realize i may not be as tech savvy as i had previously thought. Comment before you pm please.
I will pay in bitcoin and am willing to negotiate.
submitted by Longboarding-Is-Life to slavelabour [link] [comments]

An objective score for Bitcoin mining decentralization (and other cryptos)

The Herfindahl index can be applied to objectively measure how decentralized a cryptocurrency's mining infrastructure is - and to directly compare cryptos in that regard. Perhaps more interesting, though more work, would be to graph how these change over time. Has bitcoin become more or less decentralized over the years? It's actually possible to answer, but I'll leave doing so up to others.
The more mining pools there are, and the more their hash rates are evenly distributed, the more decentralized a cryptocurrency's mining economy is. This is the basis of the Herfindahl index, and we can use the reciprocal to obtain a decentralization score.
Here is the procedure, followed by results and calculations for Bitcoin, Bitcoin Cash, and Ethereum.
  1. Pick a number of blocks (N) to give you a sufficiently good estimate.
  2. For all of those blocks, identify what pool/miner mined it.
  3. For each unique pool/miner, count how many blocks they mined (n) out of the total (N), and then calculate (n/N)2 (squared market share).
  4. Sum all of these squares up to give you the Herfindahl index (H).
  5. Optionally, calculate the reciprocal (1/H). This makes the index proportional to decentralization and is IMO easier to understand in "bigger is better" terms.
Since steps 1-3 are the already used by many web stats to calculate miner hash rate proportions, you can work directly from hash rate proportions. Square each miner's proportional hash rate and add these all up to get H, then take the reciprocal.
Higher values of the reciprocal Herfindahl index indicate greater decentralization. You can directly compare these between cryptos, but be aware that the index will fluctuate over time and will exhibit some variance.
In my opinion this value is an important metric of the security of a cryptocurrency's network along with the total hash rate.
Here are the current values for a few different cryptos. Higher is better.
Bitcoin: 7.9
Bitcoin Cash: 6.0
Ethereum: 7.0
So, what is an acceptable value? That is the subjective part. I would personally suggest the current state of bitcoin is not decentralized enough, so a value of 7.9 does not satisfy me. Your own opinion may differ.
How do we tell if the above values are different enough to warrant discussion? One method is through the use of significance tests. Or, it may be sufficient to simply plot such values on a graph an examine variability over time. I leave these as exercises for others...
Raw calculations for Bitcoin:
Miner Block Count share*share BitFury 12 0.00852071 ViaBTC 12 0.00852071 2 0.000236686 Bixin 8 0.003786982 BW Pool 3 0.000532544 BitClub 7 0.002899408 Slush Pool 26 0.04 BTCC 13 0.01 AntPool 28 0.046390533 GBMiners 5 0.00147929 ConnectBTC 1 5.91716E-05 8 0.003786982 2 0.000236686 F2Pool 3 0.000532544 TOTAL 130 Excluded Blocks 14 H 0.126982249 Decentralization 7.875116496 
Note: 14 blocks excluded with "unknown" miners.
Raw calculations for Bitcoin Cash:
Miner Block Count share*share 31 0.046344522 AntPool 19 0.017409336 2 0.000192901 25 0.030140818 ViaBTC 29 0.040557485 F2Pool 17 0.013937114 Unknown 20 0.019290123 BitClub 1 4.82253E-05 TOTAL 144 Excluded Blocks 0 H 0.167920525 Decentralization 5.955198162 
Raw calculations for Ethereum:
Miner Block Count share*share f2pool 32 0.049382716 nanopool 23 0.025511188 miningpoolhub 19 0.017409336 ethermine 28 0.037808642 0x5a0b54d5... 11 0.005835262 dwarfpool 5 0.001205633 bitclubpool 6 0.001736111 bw 9 0.00390625 ethpool 2 0.000192901 0x625a083b... 1 4.82253E-05 0xb75d1e62... 2 0.000192901 0x180ba8f7... 1 4.82253E-05 0xeba863d1... 1 4.82253E-05 0x6b4afbc4... 1 4.82253E-05 waterhole 1 4.82253E-05 0xcc4b9f07... 1 4.82253E-05 0xb435ce7c... 1 4.82253E-05 TOTAL 144 Excluded Blocks 0 H 0.143518519 Decentralization 6.967741935 
submitted by CaptainOuzo to Bitcoin [link] [comments]

Anyone else Feeling antsy post hack. Growing up in the face of the Nicehash Hack / Bitcoin Crash.

Hello #OneButtonMiners/#ITCertifications/#MidMiningLifeCrisis
So I started Nicehash mining in October. I've been reading this subreddit and watching YouTube videos about Nicehash, bitcoin, and cryptocurrencies in general. Very Noobish.
The Nicehash hack pushed me into exploring Minergate and other alternative One Button Miner platforms which in turn forced me to explore and New Coin Types (Monero, Ethereum etc) and wallets like Coinbase, Bitstamp, and Faxx
I did not lose a massive amount of bitcoin (.028 BTC) but I did realize that I am too dependent on the One Button Mining.
Wanting to diversify my dependence on Nicehash, I assumed that Ethereum was the next reasonably stable coin so I downloaded Claymore Dualminer on one of my rigs and connected to Nanopool using their very easy Quickstart Generate Config Setup, and Presto, I'm mining Ethereum. I am using Jaxx as a short term Ethereum wallet but will probably move it to Coinbase to keep things centralized.
Suddenly I am exposed to the world of different Mining Pools, Claymore Command Line Options, and a hundred other technical protocols that each require me to watch dozens of 10 - 15 minutes YouTube videos tutorials and walkthroughs, all while I watch Bitcoin plummet below $9000. (Perhaps $8000 before I finish spell checking)
I knew with the parabolic growth of Nov and Dec would not be sustained but this has me questioning my willingness to commit to any one coin or platform even more.
Honestly, I think the consequences of the Nicehash Hack, although unfortunate and undesired, have made me slightly a more informed miner. I have two rigs mining with Nicehash and one rig running Dagger Hashimoto in Claymore on Nanopool. (5 GPUs) Room for all rigs to grow.
Nicehash seems to have a slightly higher mining value, but it is a minor difference and I have satisfied that itch to move slightly away from One Button Mining.
So what's next:
Do I continue to diversify, spreading my already limited hashing power across other altcoins.
Do I stick with Nicehash, trusting them to fix the Market Bot / Algorithm Switching issue and payback program.
Do I setup my own Mining Pool… Which I am totally not qualified to do, but sounds awesome!
I know there are others in this community that are in different stages of personal experience. What’s my next big mistake. (Or area I can Level Up if your the, ”Glass is Half Full” type) I see myself running full circle, chasing the best algos for weeks only to find Nicehash does a pretty good job of that.
My goal is long term value. I do not plan to cash out for 1-5 years, perhaps more. I can invest about $ 300-$400 monthly in hardware. Currently I am using that buying a used NVIDIA GPU Monthly on average and support hardware as needed.
Looking forward to all the trolls… as I know this is a pretty long and subjective rambling post,but I also looking forward to that one helpful post that persuades me to BUILD THAT MINING POOL!!!
Thanks in advance,
submitted by DarrelCanada to NiceHash [link] [comments]

Getting started with Ethereum

What is Ethereum?

Ethereum is a decentralized programmable platform that utilizes that allows for the application of blockchain technology in many facets of life.

Like Bitcoin, Ethereum utilizes a blockchain for security and transparency. Ethereum, like Bitcoin, is also tradeable directly as Ether (ETH). However, Ethereum also allows for the creation of “smart contracts”, allowing developers to use blockchain technology, via Ethereum, in their own programmable applications.

What is Ether (ETH)?

Ether, or ETH for short, is the currency Ethereum uses. Ether is generated via algorithmic mining, and is the basis of the Ethereum network. Ether serves as the basis for Ethereum “smart contracts” which often utilize “tokens”, an abstraction of Ether.

How can I purchase Ether (ETH)?

Depending on your geographical location, your options for purchasing Ether may vary.

Purchasing Ether through, using USD or BTC is a very popular method of obtaining Ether allows for more rapid exchange of currency, and is connected directly to

Alternatively,, (EUR), and (USD) are popular exchanges.

Best places to buy EtheBTC with debit cards or instant bank transfers:
Best places to buy EtheBTC with SWIFT bank transfers:
Best exchanges to transfer EtheBTC to for trading:
Exchanges Fees:
Exchange Maker Taker
GDAX 0% 0.30%
Poloniex 0.15% 0.25%
Kraken 0.16% 0.26%
Bitfinex 0.10% 0.20%
Gemini 0.10% 0.20%
Bittrex 0.25% 0.25%

How can I mine ETH?

The easiest way to get started mining is through Minergate:

MinerGate isn’t recommended if you plan to have dedicated mining rigs.

If, however, you wish to mine on an existing computer as a hobby, or out of interest, it’s perfect. While it does take a fee from your mining, it’s GUI is quick and simple to use and once install you can be mining instantaneously. It also has some challenges that encourage you to mine, and if you’re an absolute beginner, then the simplicity of this software will have you jumping for joy.

Other ETH mining pools include:
The following guides can help you get started:

Where can I check the price of Ether (ETH)? is a popular website to track the price of Ether (ETH). In addition to listing the price of ETH on the major exchanges, it allows for a wide variety of charting tools which can be used to trade ETH more effectively.

How is Ethereum different than Bitcoin?

Ethereum creates an ecosystem for the utilization of blockchain in everyday transactions and is designed with this intention. Bitcoin, on the other hand, was created as a form of electronic cash. Ethereum uses similar blockchain technology to maintain all of the benefits of Bitcoin, but also allows for an infrastructure of applications which can extend beyond the exchange of currency.

Can I send Ether to a Bitcoin wallet?


Who is behind Ethereum?

Vitalik Buterin

What are tokens?

ERC20 tokens are Ethereum derivatives. Tokens allow for smart contracts to interface directly with the Ethereum blockchain. As such, they are exchangeable through Ethereum wallets.

Proof of Work vs Proof of Stake

Proof of Work is the current method used to generate ETH, the "Serenity" update will change this to a Proof of Stake system, the difference is explained below.

Proof of Work is the system by which most cryptocurrencies, including Bitcoin, manage their blockchains. Through a process known as mining, individuals contribute processing power to solve difficult, arbitrary calculations as well as to validate calculations to determine what the next block in the blockchain should be. Whenever a new block is added to the chain, whoever was lucky enough to be the person that created that block is rewarded with some amount of currency.

The difficulty of these calculations can be determined by the devs behind the currency to control the rate at which new coins are dispersed into the economy. The reason for the difficult calculations is to secure the network by making it difficult for an attacker to start adding invalid blocks to the universally accepted chain - in this system, the attacker would need to generate over 50% of the processing power in the entire network to have their malicious validation be accepted. A higher-level way to think about this is that processing power is what creates scarcity and is proportional to the odds of you getting the next reward. This has the unfortunate side-effect of giving a disproportionate amount of power, in regards to both reward and blockchain validation, to miners that control a large portion of the mining hashrate.

Proof of Stake rewards are distributed via proportional to the “stake” that validators have in the economy as opposed to the work you can do. Your stake increases based on the amount of currency in your wallet and how long it’s been there. The greater your stake, the higher the odds are that you will receive a reward for the creation of the new block on the chain. In contrast to PoW where scarcity comes from processing power, in PoS, the scarcity comes from the currency itself.

As of June 2017, Ethereum is using a Proof of Work system. By the Serenity update the platform will be updated to use a Proof of Stake system. As we get closer to that release we will learn more details about how the PoS system will work in Ethereum’s implementation, known as Casper.

Anticipated ETH Updates:


zkSNARKs stands for “zero knowledge Succinct Non-interactive ARguments of Knowledge”. They allows us to manipulate and translate calculations that need to be double-checked so that nothing on the network needs to know exactly what the original calculation was, but can still confirm whEther a result is correct or not. The details of how this works are too opaque for this guide, but what it means is that code deployed on Ethereum doesn’t have to be open-source and the details of transactions can remain completely secret. zkSNARKs will be implemented in the Metropolis update.


Metropolis is the next major update to the Ethereum network, the third of four phases that the developers have planned for Ethereum. This update will bring with it modifications to the way that applications interact with the network, making it simpler for developers to write apps on the platform. zkSNARKs will also be implemented in this update, opening up the Ethereum network to developers that want to keep their apps’ source code a secret and users that want greater privacy for their transactions.


This is the fourth and final major planned update to Ethereum. This is defined by two massive changes: transition from a PoW to PoS system using the Casper algorithm (described above), and sharding. Sharding will allow applications to be split into tiny pieces, or sharded, and distributed across the network. One calculation required to execute an app may happen on one machine (and then double-checked using zkSNARKs on several others), then the next calculation happens somewhere else, and so on. Not only does this improve performance by reducing the time it takes for apps to execute on the network, allowing network nodes to validate only shards of the blockchain means that new blocks can be added, and transactions confirmed, near instantly. This is the biggest update planned for Ethereum and has no release date yet determined.

Other Resources:

Ethereum fundamentals wiki:

Useful reddit link showing upcoming news:

Very good list of links to read about Ethereum:

Tax advice

submitted by IBeRamen to Etherealm [link] [comments]

Using Genoils eth-proxy with Claymore miner and nicehash

Hi everyone!
I'm still a mining newbie, have some miners active and testing around.
I like using Genoils eth-proxy with ethminer and claymore's dualminer (cause of slow internet-connection) mining on different pools like nanopool and dwarfpool. Everything runs fine.
Now I would like to mine on nicehash. With Genoils eth-proxy I have to write my Ethereum public key into the config.txt. The problem is, I cannot use the bitcoin public key from nicehash there (msg: bad wallet).
Does anybody have an idea how to configure eth-proxy for nicehash?
Thanks in advance EthMaugo
submitted by EthMaugo to EtherMining [link] [comments]

What Do YOU Need to MINE ONE ETHEREUM In 2020?! - YouTube Can Ethereum Mining Still Get You Rich in 2020? - YouTube How To Mine Ethereum & Siacoin. (Easy Nanopool Guide) AMD R9 380 4GB Ethos mining on Nanopool How To Mine Ethereum with Nanominer  Nanopool  Easy ...

Stable, anonymous, user-friendy pool with great user interface. 20 min PPLNS, 1% commission, payouts every 6 hours, min payout 0.1 ETH Nanopool. Nanopool is a collective cryptocurrency mining pool operating since 2015, which is part of the Finom AG blockchain holding.Since the end of 2018, he has been a member of the three leaders in Ethereum mining. Nanopool specializes in coins, which are mostly useful only on video cards. Nanopool is a cryptocurrency mining pool. It allows getting 7 cryptocurrencies: Ethereum, Electroneum, Ethereum Classic, Pascal, SiaCoin, Monero, Zcash. On the Nanopool website users will see a list of supported cryptocurrencies, as well as information on the algorithm used, the rate, the pool hashrate, the range of payments. Nanopool - a pool for collective cryptocurrency mining since 2015, which is part of the Finom AG blockchain holding. Since the end of 2018, it has been a member of the 3 leaders of the Ethereum mining sector. Is Nanopool Safe and worth trying? Let's take a look at this article. Ethereum, Ethereum Classic, ZCash, Pascal, Raven, and Monero mining pool. Stable, anonymous, user-friendy pool. PPLNS, regular payouts, low comisson.

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What Do YOU Need to MINE ONE ETHEREUM In 2020?! - YouTube

Wir haben hier eine kleine Anleitung zum Ethereum Mining mit erstellt. (Quick Start) Weitere Hilfen und Anleitungen finden sich auf How To Mine Ethereum & Siacoin. (Easy Nanopool Guide) AMD R9 380 4GB Learn To Bitcoin. Loading... Unsubscribe from Learn To Bitcoin? Cancel Unsubscribe. Working... What do you need to mine one Ethereum ETH coin in 2020? Let's review Ethereum mining profitability and what ETH mining rigs you would need to mine an entire ... Live Bitcoin Trading With DeriBot on Deribit DeriBot Backup 231 watching Live now How To Trade Regular & Hidden Divergences Divergence Trading Explained - Duration: 11:02. Start to finish setup of nanominer, mining Ethereum (ETH) on nanopool. Learn how to start mining with your PC GPU and/or CPU using nanominer. Setting up a mi...