C11 mining

By | 23.06.2018
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MiningRigRentals.com focuses on providing a top level mining rig rental service. The focus is to unite renters and rig owners for the purpose of exchanging Crypto-currency for mining time. A secure, safe, better alternative to similar services online. How the Equihash Algorithm Could Democratize Zcash Mining by Giulio Prisco Feb 16, 2017 3:40 PM EST Mining centralization is probably . Author: Topic: [ANN] [CHC] ChainCoin - Cryptopia & Novaexchange - Required update 0.9.3.2 (Read 286027 times). While we are on the topic of CPU mining crypto coins, after going though the currently available alternative crypto coins that are still mineable only with CPU there. Providing reliable power for applications requiring 242-336 bkW (325-450 bhp), Cat ® C11 ACERT™ Industrial Diesel Engines are proven performers, providing greater options for customers who require powerful flexibility for their equipment.

Mining centralization is probably one of the biggest challenges digital currencies face.

Many of Bitcoin’s properties, such as censorship resistance and double-spend c11 mining, rely to a large extent on a decentralized mining landscape. But over the years, the Bitcoin mining system has increasingly centralized into fewer hands and fewer geographical regions. There are several bitcoins mining test for this trend. But one of them is the emergence of specialized mining hardware: ASIC chips and miners.

In an attempt to solve this issue, scientists at the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) have developed a mathematical algorithm called “Equihash.” Equihash is the brainchild of Prof. Alex Biryukov, head of SnT research group “CryptoLUX” — focused on research and technology transfer in cryptology — and CryptoLUX researcher Dr. Dmitry Khovratovich. The algorithm was first unveiled at the Network and Distributed System Security Symposium 2016 in San Diego.

Probably its most significant success to date, Zcash, the new decentralized and open-source digital currency that aims to set a new standard for privacy and anonymity through the use of groundbreaking cryptography, announced the integration of Equihash in April 2016. In a post titled “Why Equihash?,” Zcash founder Zooko Wilcox and engineer Jack Grigg noted that Equihash has very efficient verification which could enable light clients on constrained devices and Zcash clients inside Ethereum. But the main reason for the enthusiasm of the Zcash tech is, indeed, Equihash’s resistance to ASIC c11 mining is a memory-oriented Proof-of-Work, which means how much mining you can do c11 mining mostly determined by how much RAM you have,” said Wilcox and Grigg. “We think it is unlikely that anyone will be able to build cost-effective custom hardware (ASICs) for mining in the foreseeable future.” Wilcox and Grigg added that it is unlikely that major optimizations of Equihash could give the miners who know the optimization an advantage.

Equihash is a memory-hard problem, more suited to general-purpose computers with lots of memory than to special hardware chips, c11 mining. “If 10,000 miners with a single PC were active, in Zcash the investment to compete with them would be 10,000 times the price of a PC, while with Bitcoin, the investment would be significantly smaller,” said Khovratovich. “The strength of a cryptocurrency c11 mining from the fact that the ledger is globally distributed, c11 mining. Our Equihash algorithm reverses the situation back to this more ideal world.”

According to the CryptoLUX scientists, the algorithm permits avoiding centralization of the mining process in the hands of a few first-class miners with specialized mining hardware, c11 mining, thus contributing to the “democratization” of digital currencies based on Equihash.

“Since Equihash is based on a fundamental computer science problem, advances in Equihash mining algorithms will benefit computer science in general,” added Biryukov. “Equihash is so far unique among all the mining algorithms: it is memory-hard on the one hand and very easy to verify on the other.”

Speaking to Bitcoin Magazine, Equihash inventor Biryukov also emphasized that Equihash is a portable algorithm, not limited to specific digital currencies.

“We don't have any formal relation with the Zcash project,” he said. “Equihash is not limited to Zcash, it can be used in any cryptocurrency.” That said, Biryukov did sound cautiously enthusiastic about Zcash. “Compared to many other cryptocurrencies Zcash definitely brings in new features based on state-of-the-art academic crypto. Whether it will scale well or not — the future will show.”

Given the portability of Equihash, it’s interesting to speculate about its possible integration in Bitcoin itself. “I am not aware of such attempts, but it would be technically easy to do,” noted Biryukov.

For grasberg mining details on Equihash, see the research paper “Equihash: asymmetric proof-of-work based on the Generalized Birthday problem.”


#technology#equihash#mining#zcash#decentralization

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zpool - www.zpool.ca - Mining Site

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While we are on the topic of CPU mining crypto coins, after going though the currently available alternative crypto coins that are still mineable only with CPU there is pretty much only one that stands from the crowd and that is Coin Magi (XMG). Sure, there are a few more coins that are still CPU only, but their developers are not very active, nothing much is happening there and the community around the coins is pretty much disappearing. With Coin Magi however it is quite the opposite, active developers and large community supporting the coin and mining it even though XMG is already entered its POW-II stage with the reward per block in between 3 and 50 XMG unlike the first 50K blocks (POW I stage) when it was between 5 and 300 XMG. Do note that Coin Magi is also a POS coin, though it uses a so called POS-II algorithm that makes it a bit more complex for the calculation of the interest rate of staked coins.

Since we mentioned complex, this seems to be one of the issues that XMG is facing and one of the main problems that are hurting the coin – there is so much information and things happening about the coin all of the time that it is hard to keep a track on all things for a lot of users. You need to be following closely the development of Coin Magi all of the time and be a bit more advanced crypto currency user to be up to date with everything and a lot of the users are in fact not doing that. The team behind XMG needs to summarize all of the important information about the features and development of the Coin Magi in a brief and user friendly way and instead of pushing too much information to users that don’t know what to do with it ti present them with the important details in short. Anybody that is advanced user or wants to dig up into details can start researching things deeper, but for the people that don’t there is no need to dig deeper than they should just to get the basics of the coin as it is in the moment. This by the way is not a problem that only XMG has, many other alternative crypto coins suffer from a similar problem – ether lack of enough information or with too many details that make it hard to grasp the basics.

One of the latest things happening around the XMG is the launch of their Coin Magi payment gateway called MagiPay, designed for merchants that are interested in accepting the crypto coin as a form of payment. Unfortunately another example of too much and unclear information as we cannot really get if the gateway is already launched and working, there is a website available that seems to be operational, or it will be launched on March 6th. If they start managing things better and actually make it easy for the users the coin can continue to grow as it already has a big community, both mining and trading, is traded on some of the larger altcoin exchanges and has a relatively stable exchange rate. So if you haven’t heard of Coin Magi (XMG), then you might want to take a look at it as there are other interesting new features planned for the future.

For more information about the Coin Magi (XMG) CPU only crypto altcoin…

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