Primecoin: The Cryptocurrency Whose Mining is Actually Useful

RESEARCH REPORT ABOUT ARYACOIN

RESEARCH REPORT ABOUT ARYACOIN
Author: Gamals Ahmed, CoinEx Business Ambassador

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ABSTRACT

Aryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain.
The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.

1.INTRODUCTION

The concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions.
When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved.
This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency.
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.

1.1 OVERVIEW ABOUT ARYACOIN

Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details.
Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda.
Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified.
Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin.
Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim.
Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details.
Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time.
According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public.
In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks.
AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by
first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.

1.1.1 ARYACOIN HISTORY

Aryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team.
Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin.
We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said.
Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC.
Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees.
We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.
One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”.
So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.
We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.

1.1.2 ARYACOIN’S MAIN GOAL

Aryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe.
Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.

1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVE

Aryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur.
Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.

1.1.4 BENEFITS OF USING ARYACOIN

Aryacoin solution offers the following benefits:
  • Real-time update: whether you’re going on a holiday or a business trip, no problem. You can access your coins all over the world.
  • Instant operations: Aryacoin makes it quite easy for you to use your digital wallet and perform various operations with it.
  • Safe and secure: all your data is stored encrypted and can only be decrypted with your private key, seed, or password.
  • Strong security: The system has no control over your wallet. You are 100% in charge of your wallet and funds.

1.1.5 ARYACOIN FEATURES

1. Anonymity
The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country .
2. Real Life Usage
aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere.
3. Offline Exchanges
They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the
coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future!
4. Transactions
When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending.
5. Business Partner with Simplex
Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries.
In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020.
Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.

1.1.6 WHY CHOOSE ARYACOIN?

If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!

1.1.7 ARYANA CENTRALIZED EXCHANGE

Aryana, the first Iranian exchange is a unique platform with the following features:
  • The first real international Persian exchange that obtains international licenses and is listed in CoinMarketCap.
  • The first Iranian exchange that has been cooperating with a legal and European exchange for 3 years.
  • The possibility of trading in Tomans (available currency in Iran) at the user’s desired price and getting rid of the transaction prices imposed by domestic sites inside Iran.
  • There is an internal fee payment plan by Iranian domestic banks for depositing and withdrawing Tomans for Aryacoin holders in Aryana Exchange.
  • The number that you see on the monitor and in your account will be equal to the number that is transferred to your bank account without a difference of one Rial.
  • The last but not least, noting the fact that there is a trading in Tomans possibility in Aryana exchange.
Aryana Exchange is using the most powerful, fastest, and most expensive server in the world, Google Cloud Platform (GCP), which is currently the highest quality server for an Iranian site, so that professional traders do not lag behind the market even for a second.
The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline.
The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.

1.1.8 HOW DOES ARYACOIN WORK?

Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.

2. ARYACOIN TECHNOLOGY

2.1 PROOF-OF-WORK

They use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash.
For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it.
The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past
block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.

2.2 NETWORK

The steps to run the network are as follows:
  • New transactions are broadcast to all nodes.
  • Each node collects new transactions into a block.
  • Each node works on finding a difficult proof-of-work for its block.
  • When a node finds a proof-of-work, it broadcasts the block to all nodes.
  • Nodes accept the block only if all transactions in it are valid and not already spent.
This is a very simple system that makes the network fast and scalable, while also providing a decent level of anonymity for all users. Users can send their transactions to any of the public nodes to be broadcast, and the private key of the sender’s address should sign any transaction sent to the nodes. This way, all transaction info remains strictly confidential. It also allows users to send transactions directly to the node from any place at any time and allows the transferring of huge amounts with very low fees.

2.3 AYAPAY PAYMENT SERVICES GATEWAY:

According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world.
This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee.
In other similar systems or even systems such as PayPal, money is stored in the user account.

2.4 CONSENSUS ALGORITHM IN ARYACOIN

The devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.

2.5 DOUBLE-SPEND PROBLEM AND SOLUTION

One of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore
be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.

3. ARYACOIN ROADMAP

April 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected
December 2019: The launch of AYA Pay
April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain.
June 2020: Aryana Exchange goes live, opening more trading opportunities globally
July 2020: The enabling of our Coin Exchanger
November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem
Q1 2021: Alef B goes live (more details coming soon)

4. THE NUCYBER NETWORK COMMUNITY & SOCIAL

Website: https://aryacoin.io/
Explorer: https://explorer.aryacoin.io/
Github: https://github.com/Aryacoin/Aryacoin
Twitter: 1.1k followers https://twitter.com/AryacoinAYA
Reddit: 442 members https://github.com/nucypher
Instagram: 3.8k followers https://www.instagram.com/mrdigicoin/ Telegram: 5.9k subscribers https://t.me/AYA_Global

5. SUMMARY

Aryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.

6. REFERENCES

1) https://coincodex.com/crypto/aryacoin/
2) https://www.icosandstos.com/coin/Aryacoin%20AYA/YuXO60UPF3
3) https://www.publish0x.com/iran-and-cryptocurrency/a-brief-introduction-of-aryacoin-first-ever-iranian-cryptocu-xoldlom
4) https://techround.co.uk/cryptocurrency/aryacoin-the-digital-currency-created-by-iranians/
5) https://bitcoinexchangeguide.com/aryacoin/
6) https://blog.coinpayments.net/coin-spotlight/aryacoin
7) https://guarda.com/aryacoin-wallet
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Letter to BBC about energy consumption in BITCOIN vs BURSTCOIN

Dear amazing journalists and people working at BBC,
I've just stumbled across your article about Iran seizing bitcoin mining farms due to massive spikes in energy consumption (https://www.bbc.com/news/technology-48799155) and I couldn't help but write this e-mail to draw your attention to a revolutionary crypto currency called BURSTCOIN (www.burst-coin.org) - the only green currency out there.
Blockchain technology and various crypto currencies - the main one being bitcoin at the moment - are all over the news and one cannot argue that these digital assets contain huge potential in the near term future.
With Bitcoin being the most famous and surging numbers of new investors, it is worth it to look at the amount of energy necessary to maintain the network and mine new coins (https://www.economist.com/the-economist-explains/2018/07/09/why-bitcoin-uses-so-much-energy).
It is truly a growing global problem and will become worse each year due to the nature of the algorithm that's running bitcoin.
Here's where BURSTCOIN becomes important:
While one BITCOIN transaction consumes 1000kW/h, BURSTCOIN only uses 0.0024kW/h per transaction - an obviously tremendous difference, that being just one of them.
As a regular viewereader of BBC News I would love to see an article talking about the energy consumption of cryptocurrencies such as bitcoin and providing your viewers and readers with a green alternative such as BURSTCOIN - especially in times where the effects of climate change can be felt all over the globe.
If you got interested in learning more about BURST and publishing an article about the above mentioned topic, please visit www.burst-coin.org for further details on the technology or contact_______________________ to find out more.
Thank you and keep up the great work, it's needed more than ever!
Kind Regards from Austria,
-A citizen who is enthusiastic about the future and a true believer that good things happen-
submitted by BURSTFAN to burstcoin [link] [comments]

QuarkChain Testnet 2.0 Mining.

QuarkChain Testnet 1.0 was built based on standardized blockchain system requirements, which included network, wallet, browser, and virtual machine functionalities. Other than the fact that the token was a test currency, the environment was completely compatible with the main network. By enhancing the communication efficiency and security of the network, Testnet 2.0 further improves the openness of the network. In addition, Testnet 2.0 will allow community members (other than citizens or residents of the United States) to contribute directly to the network, i.e. running a full node and mining, and receive testnet tokens as rewards.
QuarkChain Testnet 2.0 will support multiple mining algorithms, including two typical algorithms: Ethash and Double SHA256, as well as QuarkChain’s unique algorithm called Qkchash – a customized ASIC-resistant, CPU mining algorithm, exclusively developed by QuarkChain. Mining is available both on the root chain and on shards due to QuarkChain’s two-layered blockchain structure. Miners can flexibly choose to mine on the root chain with higher computing power requirements or on shards based on their own computing power levels. Our Goal By allowing community members to participate in mining on Testnet 2.0, our goal is to enhance QuarkChain’s community consensus, encourage community members to participate in testing and building the QuarkChain network, and gain first-hand experience of QuarkChain’s high flexibility and usability. During this time, we hope that the community can develop a better understanding about our mining algorithms, sharding technologies, and governance structures, etc. Furthermore, this will be a more thorough challenge to QuarkChain’s design before the launch of mainnet! Thus, we sincerely invite you to join the Testnet 2.0 mining event and build QuarkChain’s infrastructure together!
Today, we’re pleased to announce that we are officially providing the CPU mining demo to the public (other than citizens and residents of the United States)! Everyone can participate in our mining event, and earn tQKC, which can be exchanged to real rewards by non-U.S. persons after the launch of our mainnet. Also, we expect to upgrade our testnet over time, and expect to allow GPU mining for Ethash, and ASIC mining for Double SHA256 in the future. In addition, in the near future, a mining pool that is compatible with all mining algorithms of QuarkChain is also expected to be supported.
We hope all the community members can join in with us, and work together to complete this milestone! 2 Introduction to Mining Algorithms 2.1 What is mining? Mining is the process of generating the new blocks, in which the records of current transactions are added to the record of past transactions. Miners use software that contribute their mining power to participate in the maintenance of a blockchain. In return, they obtain a certain amount of QKC per block, which is called coinbase reward. Like many other blockchain technologies, QuarkChain adopts the most widely used Proof of Work (PoW) consensus algorithm to secure the network.
A cryptographically-secure PoW is a costly and time-consuming process which is difficult to solve due to computation-intensity or memory intensity but easy for others to verify. For a block to be valid it must satisfy certain requirements and hash to a value less than the current target threshold. Reverting a block requires recreating all successor blocks and redoing the work they contain, which is costly.
By running a cluster, everyone can become a miner and participate in the mining process. The mining rewards are proportional to the number of blocks mined by each individual.
2.2 Introduction to QuarkChain Algorithms and Mining setup According to QuarkChain’s two-layered blockchain structure and Boson consensus, different shards can apply different consensus and mining algorithms. As part of the Boson consensus, each shard can adjust the difficulty dynamically to increase or decrease the hash power of each shard chain.
In order to fully test QuarkChain testnet 2.0, we adopt three different types of mining algorithms” Ethash, Double SHA256, and Qkchash, which is ASIC resistant and exclusively developed by QuarkChain founder Qi Zhou. These first two hash algorithms correspond to the mining algorithms dominantly conducted on the graphics processing unit (GPU) and application-specific integrated circuits (ASIC), respectively.
I. Ethash Ethash is the PoW mining algorithm for Ethereum. It is the latest version of earlier Dagger-Hashimoto. Ethash is memory intensive, which makes it require large amounts of memory space in the process of mining. The efficiency of mining is basically independent of the CPU, but directly related to memory size and bandwidth. Therefore, by design, building Ethash ASIC is relatively difficult. Currently, the Ethash mining is dominantly conducted on the GPU machines. Read more about Ethash: https://github.com/ethereum/wiki/wiki/Ethash
II. Double SHA256 Double SHA256 is the PoW mining algorithms for Bitcoin. It is computational intensive hash algorithm, which uses two SHA256 iterations for the block header. If the hash result is less than the specific target, the mining is successful. ASIC machine has been developed by Bitmain to find more hashes with less electrical power usage. Read more about Double SHA256: https://en.bitcoin.it/wiki/Block_hashing_algorithm
III. Qkchash Originally, Bitcoin mining was conducted on the CPU of individual computers, with more cores and greater speed resulting in more profitability. After that, the mining process became dominated by GPU machines, then field-programmable gate arrays (FPGA) and finally ASIC, in a race to achieve more hash rates with less electrical power usage. Due to this arms race, it has become increasingly harder for prospective new miners to join. This raises centralization concerns because the manufacturers of the high-performance ASIC are concentrated in a small few.
To solve this, after extensive research and development, QuarkChain founder Dr. Qi Zhou has developed mining algorithm — Qkchash, that is expected to be ASIC-resistant. The idea is motivated by the famous date structure orders-statistic tree. Based on this data structure, Qkchash requires to perform multiple search, insert, and delete operations in the tree, which tries to break the ASIC pipeline and makes the code execution path to be data-dependent and unpredictable besides random memory-access patterns. Thus, the mining efficiency is closely related to the CPU, which ensures the security of Boston consensus and encourges the mining decentralization.
Please refer to Dr. Qi’s paper for more details: https://medium.com/quarkchain-official/order-statistics-based-hash-algorithm-e40f108563c4
2.3 Testnet 2.0 mining configuration Numbers of Shards: 8 Cluster: According to the real-time online mining node The corresponding mining algorithm is Read more about Ethash with Guardian: https://github.com/QuarkChain/pyquarkchain/wiki/Ethash-with-Guardian)
We will provide cluster software and the demo implementation of CPU mining to the public. Miners are able to arbitrarily select one shard or multiple shards to mine according to the mining difficulty and rewards of different shards. GPU / ASIC mining is allowed if the public manages to get it working with the current testnet. With the upgrade of our testnet, we will further provide the corresponding GPU / ASIC software.
QuarkChain’s two-layered blockchain structure, new P2P mode, and Boson consensus algorithm are expected tobe fully tested and verified in the QuarkChain testnet 2.0. 3 Mining Guidance In order to encourage all community members to participate in QuarkChain Testnet 2.0 mining event, we have prepared three mining guidances for community members of different backgrounds.
Today we are releasing the Docker Mining Tutorial first. This tutorial provides a command line configuration guide for developers and a docker image for multiple platforms, including a concise introduction of nodes and mining settings. Follow the instructions here: Quick Start with QuarkChain Mining.
Next we will continue to release: A tutorial for community members who don’t have programming background. In this tutorial, we will teach how to create private QuarkChain nodes using AWS, and how to mine QKC step by step. This tutorial is expected to be released in the next few days. Programs and APIs integrated with GPU / ASIC mining. This is expected to allow existing miners to switch to QKC mining more seamlessly. Frequently Asked Questions: 1. Can I use my laptop or personal computer to mine? Yes, we will provide cluster software and the demo implementation of CPU mining to the public. Miners will be able to arbitrarily select one shard or multiple shards to mine according to the work difficulty and rewards of different shards. 2. What is the minimum requirements for my laptop or personal computer to mine? Please prepare a Linux or MacOs machine with public IP address or port forwarding set up. 3. Can I mine with my GPU or an ASIC machine? For now, we will only be providing the demo implementation of CPU mining as our first step. Interested miners/developers can rewrite the corresponding GPU / ASIC mining program, according to the JSON RPC API we provided. With the upgrade of our testnet, we expect to provide the corresponding GPU / ASIC interface at a later date. 4. What is the difference among the different mining algorithms? Which one should I choose? Double SHA256 is a computational intensive algorithm, but Ethash and Qkchash are memory intensive algorithms, which have certain requirements on the computer’s memory. Since currently we only support CPU mining, the mining efficiency entirely depends on the cores and speed of CPU. 5. For testnet mining, what else should I know? First, the mining process will occupy a computer’s memory. Thus, it is recommended to use an idle computer for mining. In Testnet 2.0 settings, the target block time of root chain is 60 seconds, and the target block time of shard chain is 10 seconds. The mining is a completely random process, which will take some time and consume a certain amount of electricity. 6. What are the risks of testnet mining? Currently our testnet is still under the development stage and may not be 100% stable. Thus, there would be some risks for QuarkChain main chain forks in testnet, software upgrades and system reboots. These may cause your tQKC or block record to be lost despite our best efforts to ensure the stability and security of the testnet.
For more technical questions, welcome to join our developer community on Discard: https://discord.me/quarkchain. 4 Reward Mechanism Testnet 2.0 and all rewards described herein, including mining, are not being offered and will not be available to any citizens or residents of the United States and certain other jurisdictions. All rewards will only be payable following the mainnet launch of QuarkChain. In order to claim or receive any of the following rewards after mainnet launch, you will be required to provide certain identifying documentation and information about yourself. Failure to provide such information or demonstrate compliance with the restrictions herein may result in forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other sanctions.
NO U.S. PERSONS MAY PARTICIPATE IN TESTNET 2.0 AND QUARKCHAIN WILL STRICTLY ENFORCE THIS VIA OUR KYC PROCEDURES. IF YOU ARE A CITIZEN OR RESIDENT OF THE UNITED STATES, DO NOT PARTICIPATE IN TESTNET 2.0. YOU WILL NOT RECEIVE ANY REWARDS FOR YOUR PARTICIPATION.
4.1 Mining Rewards
  1. Prize Pool A total of 5 million QKC prize pool have been reserved to motivate all miners to participate in the testnet 2.0 mining event. According to the different mining algorithms, the prize pool is allocated as follows:
Total Prize Pool: 5,000,000 QKC Prize Pool for Ethash Algorithm: 2,000,000 QKC Prize Pool for Double SHA256 Algorithm: 1,000,000 QKC Prize Pool for Qkchash Algorithm: 2,000,000 QKC
The number of QKC each miner is eligible to receive upon mainnet launch will be calculated on a pro rata basis for each mining algorithm set forth above, based on the ratio of sharded block mined by each miner to the total number of sharded block mined by all miners employing such mining algorithm in Testnet 2.0.
  1. Early-bird Rewards To encourage more people to participate early, we will provide early bird rewards. Miners who participate in the first month (December 2018, PST) will enjoy double points. This additional point reward will be ended on December 31, 2018, 11:59pm (PST).
4.2 Bonus for Bug Submission: If you find any bugs for QuarkChain testnet, please feel free to create an issue on our Github page: https://github.com/QuarkChain/pyquarkchain/issues, or send us an email to [email protected]. We may provide related rewards based on the importance and difficulty of the bugs.
4.3 Reward Rules: QuarkChain reserves the right to review the qualifications of the participants in this event. If any cheating behaviors were to be found, the participant will be immediately disqualified from any rewards. QuarkChain further reserves the right to update the rules of the event, to stop the event/network, or to restart the event/network in its sole discretion, including the right to interpret any rules, terms or conditions. For the latest information, please visit our official website or follow us on Telegram/Twitter. About QuarkChain QuarkChain is a flexible, scalable, and user-oriented blockchain infrastructure by applying blockchain sharding technology. It is one of the first public chains that successfully implemented state sharding technology for blockchain in the world. QuarkChain aims to deliver 100,000+ on-chain TPS. Currently, 14,000+ peak TPS has already been achieved by an early stage testnet. QuarkChain already has over 50 partners in its ecosystem. With flexibility, scalability, and usability, QuarkChain is enabling EVERYONE to enjoy blockchain technology at ANYTIME and ANYWHERE.
Testnet 2.0 and all rewards described herein are not being and will not be offered in the United States or to any U.S. persons (as defined in Regulation S promulgated under the U.S. Securities Act of 1933, as amended) or any citizens or residents of countries subject to sanctions including the Balkans, Belarus, Burma, Cote D’Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Zimbabwe, Central African Republic, Crimea, Lebanon, Libya, Somalia, South Suda, Venezuela and Yemen. QuarkChain reserves the right to terminate, suspend or prohibit participation of any user in Testnet 2.0 at any time.
In order to claim or receive any rewards, including mining rewards, you will be required to provide certain identifying documentation and information. Failure to provide such information or demonstrate compliance with the restrictions herein may result in termination of your participation, forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other actions.
This announcement is provided for informational purposes only and does not guarantee anyone a right to participate in or receive any rewards in connection with Testnet 2.0.
Note: The use of Testnet 2.0 is subject to our terms and conditions available at: https://quarkchain.io/testnet-2-0-terms-and-conditions/
more about qurakchain: Website: https://quarkchain.io/cn/ Facebook: https://www.facebook.com/quarkchainofficial/ Twitter: https://twitter.com/Quark_Chain Telegram: https://t.me/quarkchainio
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What is Bitcoin - Bitcoin Mining - How bitcoin works - Explained - In Hindi Bitcoin Mining Cryptocurrency Mining Algorithms BitAlphaCoin English Bitcoin Mining Sucks  Why?  Demystifying Bitcoin Mining Rigs, Pools & Shares

Additionally, mining a single Bitcoin consumes the same amount of electricity as consumed by 24 buildings in the country’s capital, Tehran, in 12 months. Use electricity but don’t import crypto mining equipment. Contrastingly, Iran is yet to approve the importation of cryptocurrency mining equipment. According to Jamal Arounaghi, Deputy ... Hi Guys! A complete guide should include the mining setup for the 31 algorithm too, not just 29… there is a lot of people with 1080ti with 11GB needed for 31, and it’s also a lot more profitable as of today than 29, why not cover that topic too? Pretty much everywhere they skip it…. but it’s good for us – the ones mining on 31…. As far as CPU mining, the Cryptonight algorithm is the most profitable algorithm to use a CPU on. For mining with the CPU, we have the option of using xmr-stak or xmrig. xmr-stak only has precompiled binaries for Windows, while xmrig has them for Windows and Linux. They both have the source code, so you can compile them yourself to work with Linux if you need to. What is Cryptocurrency Mining? Bitcoin uses an algorithm called Proof of Work. It’s a very difficult puzzle miners have to solve to verify transactions on the blockchain. It’s very energy intensive, and as such, other networks have chosen different methods to verify transactions to solve the energy problem. By Matt Hussey. 4 min read. Jan 18, 2019 Jul 11, 2019. Much like regular mining, in ... Natürlich ist Bitcoin nicht die einzige Währung auf dem Markt - es ist einfach, Listen von Mining-Pools für die von Ihnen gewählte Kryptowährung zu finden. Dies ermöglicht ein virales und schnelles Wachstum des Programms, führt jedoch häufig nicht zu einer sinnvollen Rendite für die Mitglieder und/oder die eingeladenen Mitglieder, die ebenfalls beigetreten sind. Aus diesem Grund ...

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What is Bitcoin - Bitcoin Mining - How bitcoin works - Explained - In Hindi

What is Bitcoin, what is bitcoin mining, how bitcoin works I am going to explain you in Hindi Bitcoin was created by the "Satoshi Nakamoto". Bitcoin is a form of digital currency, created and ... This class is not an advanced seminar on bitcoin--we will not be delving deeply into the inner workings of the system, but instead providing a bird's-eye overview with enough technical detail for ... #iamsatoshiGlobal #bitcoin #mining 🌎🌎🌎🌎🌎🌎🌎🌎🌎 *I AM SATOSHI GLOBAL* *WORLD FIRST DECENTRALIZED EARNING PLATFORM* *மாபெரும் வருமான ... Coin- bit alpha Iran ? Bitcoin with the same algorithm as highly encrypted mi... Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue. Earn while you sleep, no expensive bitcoin mining involved. More details: ... bitcoin mining algorithm how to start bitcoin mining, btc mining, asic bitcoin miners bitcoin mining program, bitcoin ...

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