6 Best Bitcoin Mining Software (That Work) in 2020 ...

Avalon Cooperates with Diginforce (WiiBox Cloud Management Software) Leading Bitcoin into Big Mining Farm Era

submitted by Betty-Bitell to Bitcoin [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by coldfeet45 to BitcoinMining [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by armabotwe to nem [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillylamb44 to CryptoCurrencyTrading [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillycheetah59 to CryptoCurrencies [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillylamb44 to MiningPoolHub [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillylamb44 to BytecoinBCN [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillycheetah59 to cryptomining [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillylamb44 to CryptoMiningTalk [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by tdd4513 to Crypto_General [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillycheetah59 to nexusearth [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by armabotwe to ico [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by armabotwe to ethdev [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
submitted by sillycheetah59 to XeraExchange [link] [comments]

Bitcoin mining: popular software for managing the processes

The Bitcoin exchange rate faced a significant drop not a long time ago, so a lot of miners think that mining this coin is not as profitable as before. However, Bitcoin is stabilizing, so now is the time to start mining it again. And, definitely, it is better to do this with reliable and efficient software.
There are a lot of operating systems for managing Bitcoin mining, so making a final choice can be a rather complicated task. This guide is here to help you — it describes features, advantages and disadvantages of the most popular software.

Hive OS: an all-in-one solution

Hive OS is a highly secure and stable mining platform based on the Linux distribution of Ubuntu. Besides, you will have no difficulties with its installation, setup and use. However, if you have any questions, you can always get in touch with the support team. The support is provided 24/7, so you will get help very quickly. There is also an extensive knowledge base that you can use.
Hive OS significantly simplifies even large farms’ management. A lot of things can be automated. For instance, automatic control of the fans, execution of commands according to the schedule, etc. Apart from this, switching between pools, wallets or coins takes only a second. The list of miners is updated regularly, just like the list of features — the Hive OS team is constantly working on the system considering the needs of the community. With Hive OS it is also possible to control the workers remotely.
Hive OS allows mining Bitcoin on ASICs and GPU rigs, offers its own pool and custom firmware for ASICs. It is an all-in-one solution that you can use in order to make the management process simpler and increase your profits.

СGMiner: suitable for experienced owners of AMD cards

CGMiner is an open-source miner focused specifically on mining Bitcoin (although some other coins can also be mined here). It supports GPU, ASIC and CPU mining, and is available for the following platforms: Windows, Linux and OS X. While using all the traditional features (for instance, overclocking) you won’t have to pay a dev fee.
However, this miner is not that suitable for inexperienced users — you at least need to have some knowledge of GitHub. Another thing to keep in mind is that CGMiner doesn’t work well with Nvidia cards.

Cudo Miner: a nice option for beginners

Cudo Miner is a simple to use crypto mining platform. Remote management, monitoring and overclocking — these and other standard features are available. Cudo Miner also offers automated mining and auto coin switching. Besides, if necessary, you can create custom templates in order to increase performance of your devices.
On the other side, Cudo Miner doesn’t support ASICs. One more unpleasant thing is that the fees are based on the amount of cryptocurrency mined in the last 30 days, and they are pretty high. For example, for less than 0.005 BTC, the fee is 6.5%.

SimpleMining: the choice of GPU owners

SimpleMining is a mining OS platform supporting all modern Nvidia and AMD GPUs. Using it, you can take bulk actions on multiple devices. Standard features like overclocking and undervolting are available as well. Besides, there are a lot of miner programmes to choose from, but you can still add a custom miner if necessary. But please keep in mind that it is impossible to mix AMD and Nvidia in one rig.

Hashr8: for users who know everything about mining

Hashr8 is an operating system suitable both for ASICs and GPU rigs. The system also supports many pools and miners. You can monitor devices not only in the web interface, but also via the mobile application. Support is provided around the clock. Besides, Hashr8 can be used for free — this option is available to miners using up to 3 devices inclusive. At the same time, there are no other restrictions — free users can use all the functions of the system.
However, despite the above-mentioned benefits, Hashr8 also has some disadvantages. Firstly, you can contact the support team only using the form on the website or by email, so there is no chance for getting help instantly. The website also has no FAQ, so if you run into a problem, you are likely to have to solve it yourself. Secondly, Hashr8 is a rather unstable system, which can affect your income.

Awesome Miner: suitable for centralized mining management

Awesome Miner allows managing and monitoring the mining operations, and supports ASICs and GPU rigs (CPU mining is possible too). Using it, you can perform operations both on individual miners and the groups, and build templates for easier configuration. Note that Awesome Miner can be used for free, but on certain conditions: you can have up to 2 miners, while the list of available features is rather limited.
Awesome Miner runs only on Windows, but you can still connect it to mining software running on Linux. Apart from this, it can be difficult for a new user to understand how this solution works, as its interface is not that convenient and intuitive.

What Software to Choose?

Obviously, the final decision completely depends on your needs, but we recommend choosing a universal system that supports GPU rigs and ASICs. By doing this, you will have freedom of action. A similar recommendation can be applied to GPU rigs — if you prefer them, choose a system that works both with Nvidia and AMD cards.
Make your choice wisely, and have profitable Bitcoin mining!
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DFINITY Research Report

DFINITY Research Report
Author: Gamals Ahmed, CoinEx Business Ambassador
ABSTRACT
The DFINITY blockchain computer provides a secure, performant and flexible consensus mechanism. At its core, DFINITY contains a decentralized randomness beacon, which acts as a verifiable random function (VRF) that produces a stream of outputs over time. The novel technique behind the beacon relies on the existence of a unique-deterministic, non-interactive, DKG-friendly threshold signatures scheme. The only known examples of such a scheme are pairing-based and derived from BLS.
The DFINITY blockchain is layered on top of the DFINITY beacon and uses the beacon as its source of randomness for leader selection and leader ranking. A “weight” is attributed to a chain based on the ranks of the leaders who propose the blocks in the chain, and that weight is used to select between competing chains. The DFINITY blockchain is layered on top of the DFINITY beacon and uses the beacon as its source of randomness for leader selection and leader ranking blockchain is further hardened by a notarization process which dramatically improves the time to finality and eliminates the nothing-at-stake and selfish mining attacks.
DFINITY consensus algorithm is made to scale through continuous quorum selections driven by the random beacon. In practice, DFINITY achieves block times of a few seconds and transaction finality after only two confirmations. The system gracefully handles temporary losses of network synchrony including network splits, while it is provably secure under synchrony.

1.INTRODUCTION

DFINITY is building a new kind of public decentralized cloud computing resource. The company’s platform uses blockchain technology which is aimed at building a new kind of public decentralized cloud computing resource with unlimited capacity, performance and algorithmic governance shared by the world, with the capability to power autonomous self-updating software systems, enabling organizations to design and deploy custom-tailored cloud computing projects, thereby reducing enterprise IT system costs by 90%.
DFINITY aims to explore new territory and prove that the blockchain opportunity is far broader and deeper than anyone has hitherto realized, unlocking the opportunity with powerful new crypto.
Although a standalone project, DFINITY is not maximalist minded and is a great supporter of Ethereum.
The DFINITY blockchain computer provides a secure, performant and flexible consensus mechanism. At its core, DFINITY contains a decentralized randomness beacon, which acts as a verifiable random function (VRF) that produces a stream of outputs over time. The novel technique behind the beacon relies on the existence of a unique-deterministic, non-interactive, DKG-friendly threshold signatures scheme. The only known examples of such a scheme are pairing-based and derived from BLS.
DFINITY’s consensus mechanism has four layers: notary (provides fast finality guarantees to clients and external observers), blockchain (builds a blockchain from validated transactions via the Probabilistic Slot Protocol driven by the random beacon), random beacon (provides the source of randomness for all higher layers like smart contract applications), and identity (provides a registry of all clients).
DFINITY’s consensus mechanism has four layers

Figure1: DFINITY’s consensus mechanism layers
1. Identity layer:
Active participants in the DFINITY Network are called clients. Where clients are registered with permanent identities under a pseudonym. Moreover, DFINITY supports open membership by providing a protocol for registering new clients by depositing a stake with an insurance period. This is the responsibility of the first layer.
2. Random Beacon layer:
Provides the source of randomness (VRF) for all higher layers including ap- plications (smart contracts). The random beacon in the second layer is an unbiasable, verifiable random function (VRF) that is produced jointly by registered clients. Each random output of the VRF is unpredictable by anyone until just before it becomes avail- able to everyone. This is a key technology of the DFINITY system, which relies on a threshold signature scheme with the properties of uniqueness and non-interactivity.

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3. Blockchain layer:
The third layer deploys the “probabilistic slot protocol” (PSP). This protocol ranks the clients for each height of the chain, in an order that is derived determin- istically from the unbiased output of the random beacon for that height. A weight is then assigned to block proposals based on the proposer’s rank such that blocks from clients at the top of the list receive a higher weight. Forks are resolved by giving favor to the “heaviest” chain in terms of accumulated block weight — quite sim- ilar to how traditional proof-of-work consensus is based on the highest accumulated amount of work.
The first advantage of the PSP protocol is that the ranking is available instantaneously, which allows for a predictable, constant block time. The second advantage is that there is always a single highest-ranked client, which allows for a homogenous network bandwidth utilization. Instead, a race between clients would favor a usage in bursts.
4. Notarization layer:
Provides fast finality guarantees to clients and external observers. DFINITY deploys the novel technique of block notarization in its fourth layer to speed up finality. A notarization is a threshold signature under a block created jointly by registered clients. Only notarized blocks can be included in a chain. Of all RSA-based alternatives exist but suffer from an impracticality of setting up the thresh- old keys without a trusted dealer.
DFINITY achieves its high speed and short block times exactly because notarization is not full consensus.
DFINITY does not suffer from selfish mining attack or a problem nothing at stake because the authentication step is impossible for the opponent to build and maintain a series of linked and trusted blocks in secret.
DFINITY’s consensus is designed to operate on a network of millions of clients. To en- able scalability to this extent, the random beacon and notarization protocols are designed such as that they can be safely and efficiently delegated to a committee

1.1 OVERVIEW ABOUT DFINITY

DFINITY is a blockchain-based cloud-computing project that aims to develop an open, public network, referred to as the “internet computer,” to host the next generation of software and data. and it is a decentralized and non-proprietary network to run the next generation of mega-applications. It dubbed this public network “Cloud 3.0”.
DFINITY is a third generation virtual blockchain network that sets out to function as an “intelligent decentralised cloud,”¹ strongly focused on delivering a viable corporate cloud solution. The DFINITY project is overseen, supported and promoted by DFINITY Stiftung a not-for-profit foundation based in Zug, Switzerland.
DFINITY is a decentralized network design whose protocols generate a reliable “virtual blockchain computer” running on top of a peer-to-peer network upon which software can be installed and can operate in the tamperproof mode of smart contracts.
DFINITY introduces algorithmic governance in the form of a “Blockchain Nervous System” that can protect users from attacks and help restart broken systems, dynamically optimize network security and efficiency, upgrade the protocol and mitigate misuse of the platform, for example by those wishing to run illegal or immoral systems.
DFINITY is an Ethereum-compatible smart contract platform that is implementing some revolutionary ideas to address blockchain performance, scaling, and governance. Whereas
DFINITY could pose a credible threat to Ethereum’s extinction, the project is pursuing a coevolutionary strategy by contributing funding and effort to Ethereum projects and freely offering their technology to Ethereum for adoption. DFINITY has labeled itself Ethereum’s “crazy sister” to express it’s close genetic resemblance to Ethereum, differentiated by its obsession with performance and neuron-inspired governance model.
Dfinity raised $61 million from Andreesen Horowitz and Polychain Capital in a February 2018 funding round. At the time, Dfinity said it wanted to create an “internet computer” to cut the costs of running cloud-based business applications. A further $102 million funding round in August 2018 brought the project’s total funding to $195 million.
In May 2018, Dfinity announced plans to distribute around $35 million worth of Dfinity tokens in an airdrop. It was part of the company’s plan to create a “Cloud 3.0.” Because of regulatory concerns, none of the tokens went to US residents.
DFINITY be broadening and strengthening the EVM ecosystem by giving applications a choice of platforms with different characteristics. However, if DFINITY succeeds in delivering a fully EVM-compatible smart contract platform with higher transaction throughput, faster confirmation times, and governance mechanisms that can resolve public disputes without causing community splits, then it will represent a clearly superior choice for deploying new applications and, as its network effects grow, an attractive place to bring existing ones. Of course the challenge for DFINITY will be to deliver on these promises while meeting the security demands of a public chain with significant value at risk.

1.1.1 DFINITY FUTURE

  • DFINITY aims to explore new blockchain territory related to the original goals of the Ethereum project and is sometimes considered “Ethereum’s crazy sister.”
  • DFINITY is developing blockchain-based infrastructure to support a new style of the internet (akin to Ethereum’s “World Computer”), one in which the internet itself will support software applications and data rather than various cloud hosting providers.
  • The project suggests this reinvented software platform can simplify the development of new software systems, reduce the human capital needed to maintain and secure data, and preserve user data privacy.
  • Dfinity aims to reduce the costs of cloud services by creating a decentralized “internet computer” which may launch in 2020
  • Dfinity claims transactions on its network are finalized in 3–5 seconds, compared to 1 hour for Bitcoin and 10 minutes for Ethereum.

1.1.2 DFINITY’S VISION

DFINITY’s vision is its new internet infrastructure can support a wide variety of end-user and enterprise applications. Social media, messaging, search, storage, and peer-to-peer Internet interactions are all examples of functionalities that DFINITY plans to host atop its public Web 3.0 cloud-like computing resource. In order to provide the transaction and data capacity necessary to support this ambitious vision, DFINITY features a unique consensus model (dubbed Threshold Relay) and algorithmic governance via its Blockchain Nervous System (BNS) — sometimes also referred to as the Network Nervous System or NNS.

1.2 DFINITY COMMUNITY

The DFINITY community brings people and organizations together to learn and collaborate on products that help steward the next-generation of internet software and services. The Internet Computer allows developers to take on the monopolization of the internet, and return the internet back to its free and open roots. We’re committed to connecting those who believe the same through our events, content, and discussions.

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1.3 DFINITY ROADMAP (TIMELINE) February 15, 2017

February 15, 2017
Ethereum based community seed round raises 4M Swiss francs (CHF)
The DFINITY Stiftung, a not-for-profit foundation entity based in Zug, Switzerland, raised the round. The foundation held $10M of assets as of April 2017.
February 8, 2018
Dfinity announces a $61M fundraising round led by Polychain Capital and Andreessen Horowitz
The round $61M round led by Polychain Capital and Andreessen Horowitz, along with an DFINITY Ecosystem Venture Fund which will be used to support projects developing on the DFINITY platform, and an Ethereum based raise in 2017 brings the total funding for the project over $100 million. This is the first cryptocurrency token that Andressen Horowitz has invested in, led by Chris Dixon.
August 2018
Dfinity raises a $102,000,000 venture round from Multicoin Capital, Village Global, Aspect Ventures, Andreessen Horowitz, Polychain Capital, Scalar Capital, Amino Capital and SV Angel.
January 23, 2020
Dfinity launches an open source platform aimed at the social networking giants

2.DFINITY TECHNOLOGY

Dfinity is building what it calls the internet computer, a decentralized technology spread across a network of independent data centers that allows software to run anywhere on the internet rather than in server farms that are increasingly controlled by large firms, such as Amazon Web Services or Google Cloud. This week Dfinity is releasing its software to third-party developers, who it hopes will start making the internet computer’s killer apps. It is planning a public release later this year.
At its core, the DFINITY consensus mechanism is a variation of the Proof of Stake (PoS) model, but offers an alternative to traditional Proof of Work (PoW) and delegated PoS (dPoS) networks. Threshold Relay intends to strike a balance between inefficiencies of decentralized PoW blockchains (generally characterized by slow block times) and the less robust game theory involved in vote delegation (as seen in dPoS blockchains). In DFINITY, a committee of “miners” is randomly selected to add a new block to the chain. An individual miner’s probability of being elected to the committee proposing and computing the next block (or blocks) is proportional to the number of dfinities the miner has staked on the network. Further, a “weight” is attributed to a DFINITY chain based on the ranks of the miners who propose blocks in the chain, and that weight is used to choose between competing chains (i.e. resolve chain forks).
A decentralized random beacon manages the random selection process of temporary block producers. This beacon is a Variable Random Function (VRF), which is a pseudo-random function that provides publicly verifiable proofs of its outputs’ correctness. A core component of the random beacon is the use of Boneh-Lynn-Shacham (BLS) signatures. By leveraging the BLS signature scheme, the DFINITY protocol ensures no actor in the network can determine the outcome of the next random assignment.
Dfinity is introducing a new standard, which it calls the internet computer protocol (ICP). These new rules let developers move software around the internet as well as data. All software needs computers to run on, but with ICP the computers could be anywhere. Instead of running on a dedicated server in Google Cloud, for example, the software would have no fixed physical address, moving between servers owned by independent data centers around the world. “Conceptually, it’s kind of running everywhere,” says Dfinity engineering manager Stanley Jones.
DFINITY also features a native programming language, called ActorScript (name may be subject to change), and a virtual machine for smart contract creation and execution. The new smart contract language is intended to simplify the management of application state for programmers via an orthogonal persistence environment (which means active programs are
not required to retrieve or save their state). All ActorScript contracts are eventually compiled down to WebAssembly instructions so the DFINITY virtual machine layer can execute the logic of applications running on the network. The advantage of using the WebAssembly standard is that all major browsers support it and a variety of programming languages can compile down to Wasm (not just ActorScript).
Dfinity is moving fast. Recently, Dfinity showed off a TikTok clone called CanCan. In January it demoed a LinkedIn-alike called LinkedUp. Neither app is being made public, but they make a convincing case that apps made for the internet computer can rival the real things.

2.1 DFINITY CORE APPLICATIONS

The DFINITY cloud has two core applications:
  1. Enabling the re-engineering of business: DFINITY ambitiously aims to facilitate the re-engineering of mass-market services (such as Web Search, Ridesharing Services, Messaging Services, Social Media, Supply Chain, etc) into open source businesses that leverage autonomous software and decentralised governance systems to operate and update themselves more efficiently.
  2. Enable the re-engineering of enterprise IT systems to reduce costs: DFINITY seeks to re-engineer enterprise IT systems to take advantage of the unique properties that blockchain computer networks provide.
At present, computation on blockchain-based computer networks is far more expensive than traditional, centralised solutions (Amazon Web Services, Microsoft Azure, Google Cloud Platform, etc). Despite increasing computational cost, DFINITY intends to lower net costs “by 90% or more” through reducing the human capital cost associated with sustaining and supporting these services.
Whilst conceptually similar to Ethereum, DFINITY employs original and new cryptography methods and protocols (crypto:3) at the network level, in concert with AI and network-fuelled systemic governance (Blockchain Nervous System — BNS) to facilitate Corporate adoption.
DFINITY recognises that different users value different properties and sees itself as more of a fully compatible extension of the Ethereum ecosystem rather than a competitor of the Ethereum network.
In the future, DFINITY hopes that much of their “new crypto might be used within the Ethereum network and are also working hard on shared technology components.”
As the DFINITY project develops over time, the DFINITY Stiftung foundation intends to steadily increase the BNS’ decision-making responsibilities over time, eventually resulting in the dissolution of its own involvement entirely, once the BNS is sufficiently sophisticated.
DFINITY consensus mechanism is a heavily optimized proof of stake (PoS) model. It places a strong emphasis on transaction finality through implementing a Threshold Relay technique in conjunction with the BLS signature scheme and a notarization method to address many of the problems associated with PoS consensus.

2.2 THRESHOLD RELAY

As a public cloud computing resource, DFINITY targets business applications by substantially reducing cloud computing costs for IT systems. They aim to achieve this with a highly scalable and powerful network with potentially unlimited capacity. The DFINITY platform is chalk full of innovative designs and features like their Blockchain Nervous System (BNS) for algorithmic governance.
One of the primary components of the platform is its novel Threshold Relay Consensus model from which randomness is produced, driving the other systems that the network depends on to operate effectively. The consensus system was first designed for a permissioned participation model but can be paired with any method of Sybil resistance for an open participation model.
“The Threshold Relay is the mechanism by which Dfinity randomly samples replicas into groups, sets the groups (committees) up for threshold operation, chooses the current committee, and relays from one committee to the next is called the threshold relay.”
Threshold Relay consists of four layers (As mentioned previously):
  1. Notary layer, which provides fast finality guarantees to clients and external observers and eliminates nothing-at-stake and selfish mining attacks, providing Sybil attack resistance.
  2. Blockchain layer that builds a blockchain from validated transactions via the Probabilistic Slot Protocol driven by the random beacon.
  3. Random beacon, which as previously covered, provides the source of randomness for all higher layers like the blockchain layer smart contract applications.
  4. Identity layer that provides a registry of all clients.

2.2.1 HOW DOES THRESHOLD RELAY WORK?

Threshold Relay produces an endogenous random beacon, and each new value defines random group(s) of clients that may independently try and form into a “threshold group”. The composition of each group is entirely random such that they can intersect and clients can be presented in multiple groups. In DFINITY, each group is comprised of 400 members. When a group is defined, the members attempt to set up a BLS threshold signature system using a distributed key generation protocol. If they are successful within some fixed number of blocks, they then register the public key (“identity”) created for their group on the global blockchain using a special transaction, such that it will become part of the set of active groups in a following “epoch”. The network begins at “genesis” with some number of predefined groups, one of which is nominated to create a signature on some default value. Such signatures are random values — if they were not then the group’s signatures on messages would be predictable and the threshold signature system insecure — and each random value produced thus is used to select a random successor group. This next group then signs the previous random value to produce a new random value and select another group, relaying between groups ad infinitum and producing a sequence of random values.
In a cryptographic threshold signature system a group can produce a signature on a message upon the cooperation of some minimum threshold of its members, which is set to 51% in the DFINITY network. To produce the threshold signature, group members sign the message
individually (here the preceding group’s threshold signature) creating individual “signature shares” that are then broadcast to other group members. The group threshold signature can be constructed upon combination of a sufficient threshold of signature shares. So for example, if the group size is 400, if the threshold is set at 201 any client that collects that many shares will be able to construct the group’s signature on the message. Other group members can validate each signature share, and any client using the group’s public key can validate the single group threshold signature produced by combining them. The magic of the BLS scheme is that it is “unique and deterministic” meaning that from whatever subset of group members the required number of signature shares are collected, the single threshold signature created is always the same and only a single correct value is possible.
Consequently, the sequence of random values produced is entirely deterministic and unmanipulable, and signatures generated by relaying between groups produces a Verifiable Random Function, or VRF. Although the sequence of random values is pre-determined given some set of participating groups, each new random value can only be produced upon the minimal agreement of a threshold of the current group. Conversely, in order for relaying to stall because a random number was not produced, the number of correct processes must be below the threshold. Thresholds are configured so that this is extremely unlikely. For example, if the group size is set to 400, and the threshold is 201, 200 or more of the processes must become faulty to prevent production. If there are 10,000 processes in the network, of which 3,000 are faulty, the probability this will occur is less than 10e-17.

2.3 DFINITY TOKEN

The DFINITY blockchain also supports a native token, called dfinities (DFN), which perform multiple roles within the network, including:
  1. Fuel for deploying and running smart contracts.
  2. Security deposits (i.e. staking) that enable participation in the BNS governance system.
  3. Security deposits that allow client software or private DFINITY cloud networks to connect to the public network.
Although dfinities will end up being assigned a value by the market, the DFINITY team does not intend for DFN to act as a currency. Instead, the project has envisioned PHI, a “next-generation” crypto-fiat scheme, to act as a stable medium of exchange within the DFINITY ecosystem.
Neuron operators can earn Dfinities by participating in network-wide votes, which could be concerning protocol upgrades, a new economic policy, etc. DFN rewards for participating in the governance system are proportional to the number of tokens staked inside a neuron.

2.4 SCALABILITY

DFINITY is constantly developing with a structure that separates consensus, validation, and storage into separate layers. The storage layer is divided into multiple strings, each of which is responsible for processing transactions that occur in the fragment state. The verification layer is responsible for combining hashes of all fragments in a Merkle-like structure that results in a global state fractionation that is stored in blocks in the top-level chain.

2.5 DFINITY CONSENSUS ALGORITHM

The single most important aspect of the user experience is certainly the time required before a transaction becomes final. This is not solved by a short block time alone — Dfinity’s team also had to reduce the number of confirmations required to a small constant. DFINITY moreover had to provide a provably secure proof-of-stake algorithm that scales to millions of active participants without compromising any bit on decentralization.
Dfinity soon realized that the key to scalability lay in having an unmanipulable source of randomness available. Hence they built a scalable decentralized random beacon, based on what they call the Threshold Relay technique, right into the foundation of the protocol. This strong foundation drives a scalable and fast consensus layer: On top of the beacon runs a blockchain which utilizes notarization by threshold groups to achieve near-instant finality. Details can be found in the overview paper that we are releasing today.
The roots of the DFINITY consensus mechanism date back to 2014 when thair Chief Scientist, Dominic Williams, started to look for more efficient ways to drive large consensus networks. Since then, much research has gone into the protocol and it took several iterations to reach its current design.
For any practical consensus system the difficulty lies in navigating the tight terrain that one is given between the boundaries imposed by theoretical impossibility-results and practical performance limitations.
The first key milestone was the novel Threshold Relay technique for decentralized, deterministic randomness, which is made possible by certain unique characteristics of the BLS signature system. The next breakthrough was the notarization technique, which allows DFINITY consensus to solve the traditional problems that come with proof-of-stake systems. Getting the security proofs sound was the final step before publication.
DFINITY consensus has made the proper trade-offs between the practical side (realistic threat models and security assumptions) and the theoretical side (provable security). Out came a flexible, tunable algorithm, which we expect will establish itself as the best performing proof-of-stake algorithm. In particular, having the built-in random beacon will prove to be indispensable when building out sharding and scalable validation techniques.

2.6 LINKEDUP

The startup has rather cheekily called this “an open version of LinkedIn,” the Microsoft-owned social network for professionals. Unlike LinkedIn, LinkedUp, which runs on any browser, is not owned or controlled by a corporate entity.
LinkedUp is built on Dfinity’s so-called Internet Computer, its name for the platform it is building to distribute the next generation of software and open internet services.
The software is hosted directly on the internet on a Switzerland-based independent data center, but in the concept of the Internet Computer, it could be hosted at your house or mine. The compute power to run the application LinkedUp, in this case — is coming not from Amazon AWS, Google Cloud or Microsoft Azure, but is instead based on the distributed architecture that Dfinity is building.
Specifically, Dfinity notes that when enterprises and developers run their web apps and enterprise systems on the Internet Computer, the content is decentralized across a minimum of four or a maximum of an unlimited number of nodes in Dfinity’s global network of independent data centers.
Dfinity is an open source for LinkedUp to developers for creating other types of open internet services on the architecture it has built.
“Open Social Network for Professional Profiles” suggests that on Dfinity model one can create “Open WhatsApp”, “Open eBay”, “Open Salesforce” or “Open Facebook”.
The tools include a Canister Software Developer Kit and a simple programming language called Motoko that is optimized for Dfinity’s Internet Computer.
“The Internet Computer is conceived as an alternative to the $3.8 trillion legacy IT stack, and empowers the next generation of developers to build a new breed of tamper-proof enterprise software systems and open internet services. We are democratizing software development,” Williams said. “The Bronze release of the Internet Computer provides developers and enterprises a glimpse into the infinite possibilities of building on the Internet Computer — which also reflects the strength of the Dfinity team we have built so far.”
Dfinity says its “Internet Computer Protocol” allows for a new type of software called autonomous software, which can guarantee permanent APIs that cannot be revoked. When all these open internet services (e.g. open versions of WhatsApp, Facebook, eBay, Salesforce, etc.) are combined with other open software and services it creates “mutual network effects” where everyone benefits.
On 1 November, DFINITY has released 13 new public versions of the SDK, to our second major milestone [at WEF Davos] of demoing a decentralized web app called LinkedUp on the Internet Computer. Subsequent milestones towards the public launch of the Internet Computer will involve:
  1. On boarding a global network of independent data centers.
  2. Fully tested economic system.
  3. Fully tested Network Nervous Systems for configuration and upgrades

2.7 WHAT IS MOTOKO?

Motoko is a new software language being developed by the DFINITY Foundation, with an accompanying SDK, that is designed to help the broadest possible audience of developers create reliable and maintainable websites, enterprise systems and internet services on the Internet Computer with ease. By developing the Motoko language, the DFINITY Foundation will ensure that a language that is highly optimized for the new environment is available. However, the Internet Computer can support any number of different software frameworks, and the DFINITY Foundation is also working on SDKs that support the Rust and C languages. Eventually, it is expected there will be many different SDKs that target the Internet Computer.
Full article
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All you need to know about Yield Farming - The rocket fuel for Defi

All you need to know about Yield Farming - The rocket fuel for Defi
Source
It’s effectively July 2017 in the world of decentralized finance (DeFi), and as in the heady days of the initial coin offering (ICO) boom, the numbers are only trending up.
According to DeFi Pulse, there is $1.9 billion in crypto assets locked in DeFi right now. According to the CoinDesk ICO Tracker, the ICO market started chugging past $1 billion in July 2017, just a few months before token sales started getting talked about on TV.
Debate juxtaposing these numbers if you like, but what no one can question is this: Crypto users are putting more and more value to work in DeFi applications, driven largely by the introduction of a whole new yield-generating pasture, Compound’s COMP governance token.
Governance tokens enable users to vote on the future of decentralized protocols, sure, but they also present fresh ways for DeFi founders to entice assets onto their platforms.
That said, it’s the crypto liquidity providers who are the stars of the present moment. They even have a meme-worthy name: yield farmers.

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Where it started

Ethereum-based credit market Compound started distributing its governance token, COMP, to the protocol’s users this past June 15. Demand for the token (heightened by the way its automatic distribution was structured) kicked off the present craze and moved Compound into the leading position in DeFi.
The hot new term in crypto is “yield farming,” a shorthand for clever strategies where putting crypto temporarily at the disposal of some startup’s application earns its owner more cryptocurrency.
Another term floating about is “liquidity mining.”
The buzz around these concepts has evolved into a low rumble as more and more people get interested.
The casual crypto observer who only pops into the market when activity heats up might be starting to get faint vibes that something is happening right now. Take our word for it: Yield farming is the source of those vibes.
But if all these terms (“DeFi,” “liquidity mining,” “yield farming”) are so much Greek to you, fear not. We’re here to catch you up. We’ll get into all of them.
We’re going to go from very basic to more advanced, so feel free to skip ahead.

What are tokens?

Most CoinDesk readers probably know this, but just in case: Tokens are like the money video-game players earn while fighting monsters, money they can use to buy gear or weapons in the universe of their favorite game.
But with blockchains, tokens aren’t limited to only one massively multiplayer online money game. They can be earned in one and used in lots of others. They usually represent either ownership in something (like a piece of a Uniswap liquidity pool, which we will get into later) or access to some service. For example, in the Brave browser, ads can only be bought using basic attention token (BAT).
If tokens are worth money, then you can bank with them or at least do things that look very much like banking. Thus: decentralized finance.
Tokens proved to be the big use case for Ethereum, the second-biggest blockchain in the world. The term of art here is “ERC-20 tokens,” which refers to a software standard that allows token creators to write rules for them. Tokens can be used a few ways. Often, they are used as a form of money within a set of applications. So the idea for Kin was to create a token that web users could spend with each other at such tiny amounts that it would almost feel like they weren’t spending anything; that is, money for the internet.
Governance tokens are different. They are not like a token at a video-game arcade, as so many tokens were described in the past. They work more like certificates to serve in an ever-changing legislature in that they give holders the right to vote on changes to a protocol.
So on the platform that proved DeFi could fly, MakerDAO, holders of its governance token, MKR, vote almost every week on small changes to parameters that govern how much it costs to borrow and how much savers earn, and so on.
Read more: Why DeFi’s Billion-Dollar Milestone Matters
One thing all crypto tokens have in common, though, is they are tradable and they have a price. So, if tokens are worth money, then you can bank with them or at least do things that look very much like banking. Thus: decentralized finance.

What is DeFi?

Fair question. For folks who tuned out for a bit in 2018, we used to call this “open finance.” That construction seems to have faded, though, and “DeFi” is the new lingo.
In case that doesn’t jog your memory, DeFi is all the things that let you play with money, and the only identification you need is a crypto wallet.
On the normal web, you can’t buy a blender without giving the site owner enough data to learn your whole life history. In DeFi, you can borrow money without anyone even asking for your name.
I can explain this but nothing really brings it home like trying one of these applications. If you have an Ethereum wallet that has even $20 worth of crypto in it, go do something on one of these products. Pop over to Uniswap and buy yourself some FUN (a token for gambling apps) or WBTC (wrapped bitcoin). Go to MakerDAO and create $5 worth of DAI (a stablecoin that tends to be worth $1) out of the digital ether. Go to Compound and borrow $10 in USDC.
(Notice the very small amounts I’m suggesting. The old crypto saying “don’t put in more than you can afford to lose” goes double for DeFi. This stuff is uber-complex and a lot can go wrong. These may be “savings” products but they’re not for your retirement savings.)
Immature and experimental though it may be, the technology’s implications are staggering. On the normal web, you can’t buy a blender without giving the site owner enough data to learn your whole life history. In DeFi, you can borrow money without anyone even asking for your name.
DeFi applications don’t worry about trusting you because they have the collateral you put up to back your debt (on Compound, for instance, a $10 debt will require around $20 in collateral).
Read more: There Are More DAI on Compound Now Than There Are DAI in the World
If you do take this advice and try something, note that you can swap all these things back as soon as you’ve taken them out. Open the loan and close it 10 minutes later. It’s fine. Fair warning: It might cost you a tiny bit in fees, and the cost of using Ethereum itself right now is much higher than usual, in part due to this fresh new activity. But it’s nothing that should ruin a crypto user.
So what’s the point of borrowing for people who already have the money? Most people do it for some kind of trade. The most obvious example, to short a token (the act of profiting if its price falls). It’s also good for someone who wants to hold onto a token but still play the market.

Doesn’t running a bank take a lot of money up front?

It does, and in DeFi that money is largely provided by strangers on the internet. That’s why the startups behind these decentralized banking applications come up with clever ways to attract HODLers with idle assets.
Liquidity is the chief concern of all these different products. That is: How much money do they have locked in their smart contracts?
“In some types of products, the product experience gets much better if you have liquidity. Instead of borrowing from VCs or debt investors, you borrow from your users,” said Electric Capital managing partner Avichal Garg.
Let’s take Uniswap as an example. Uniswap is an “automated market maker,” or AMM (another DeFi term of art). This means Uniswap is a robot on the internet that is always willing to buy and it’s also always willing to sell any cryptocurrency for which it has a market.
On Uniswap, there is at least one market pair for almost any token on Ethereum. Behind the scenes, this means Uniswap can make it look like it is making a direct trade for any two tokens, which makes it easy for users, but it’s all built around pools of two tokens. And all these market pairs work better with bigger pools.

Why do I keep hearing about ‘pools’?

To illustrate why more money helps, let’s break down how Uniswap works.
Let’s say there was a market for USDC and DAI. These are two tokens (both stablecoins but with different mechanisms for retaining their value) that are meant to be worth $1 each all the time, and that generally tends to be true for both.
The price Uniswap shows for each token in any pooled market pair is based on the balance of each in the pool. So, simplifying this a lot for illustration’s sake, if someone were to set up a USDC/DAI pool, they should deposit equal amounts of both. In a pool with only 2 USDC and 2 DAI it would offer a price of 1 USDC for 1 DAI. But then imagine that someone put in 1 DAI and took out 1 USDC. Then the pool would have 1 USDC and 3 DAI. The pool would be very out of whack. A savvy investor could make an easy $0.50 profit by putting in 1 USDC and receiving 1.5 DAI. That’s a 50% arbitrage profit, and that’s the problem with limited liquidity.
(Incidentally, this is why Uniswap’s prices tend to be accurate, because traders watch it for small discrepancies from the wider market and trade them away for arbitrage profits very quickly.)
Read more: Uniswap V2 Launches With More Token-Swap Pairs, Oracle Service, Flash Loans
However, if there were 500,000 USDC and 500,000 DAI in the pool, a trade of 1 DAI for 1 USDC would have a negligible impact on the relative price. That’s why liquidity is helpful.
You can stick your assets on Compound and earn a little yield. But that’s not very creative. Users who look for angles to maximize that yield: those are the yield farmers.
Similar effects hold across DeFi, so markets want more liquidity. Uniswap solves this by charging a tiny fee on every trade. It does this by shaving off a little bit from each trade and leaving that in the pool (so one DAI would actually trade for 0.997 USDC, after the fee, growing the overall pool by 0.003 USDC). This benefits liquidity providers because when someone puts liquidity in the pool they own a share of the pool. If there has been lots of trading in that pool, it has earned a lot of fees, and the value of each share will grow.
And this brings us back to tokens.
Liquidity added to Uniswap is represented by a token, not an account. So there’s no ledger saying, “Bob owns 0.000000678% of the DAI/USDC pool.” Bob just has a token in his wallet. And Bob doesn’t have to keep that token. He could sell it. Or use it in another product. We’ll circle back to this, but it helps to explain why people like to talk about DeFi products as “money Legos.”

So how much money do people make by putting money into these products?

It can be a lot more lucrative than putting money in a traditional bank, and that’s before startups started handing out governance tokens.
Compound is the current darling of this space, so let’s use it as an illustration. As of this writing, a person can put USDC into Compound and earn 2.72% on it. They can put tether (USDT) into it and earn 2.11%. Most U.S. bank accounts earn less than 0.1% these days, which is close enough to nothing.
However, there are some caveats. First, there’s a reason the interest rates are so much juicier: DeFi is a far riskier place to park your money. There’s no Federal Deposit Insurance Corporation (FDIC) protecting these funds. If there were a run on Compound, users could find themselves unable to withdraw their funds when they wanted.
Plus, the interest is quite variable. You don’t know what you’ll earn over the course of a year. USDC’s rate is high right now. It was low last week. Usually, it hovers somewhere in the 1% range.
Similarly, a user might get tempted by assets with more lucrative yields like USDT, which typically has a much higher interest rate than USDC. (Monday morning, the reverse was true, for unclear reasons; this is crypto, remember.) The trade-off here is USDT’s transparency about the real-world dollars it’s supposed to hold in a real-world bank is not nearly up to par with USDC’s. A difference in interest rates is often the market’s way of telling you the one instrument is viewed as dicier than another.
Users making big bets on these products turn to companies Opyn and Nexus Mutual to insure their positions because there’s no government protections in this nascent space – more on the ample risks later on.
So users can stick their assets in Compound or Uniswap and earn a little yield. But that’s not very creative. Users who look for angles to maximize that yield: those are the yield farmers.

OK, I already knew all of that. What is yield farming?

Broadly, yield farming is any effort to put crypto assets to work and generate the most returns possible on those assets.
At the simplest level, a yield farmer might move assets around within Compound, constantly chasing whichever pool is offering the best APY from week to week. This might mean moving into riskier pools from time to time, but a yield farmer can handle risk.
“Farming opens up new price arbs [arbitrage] that can spill over to other protocols whose tokens are in the pool,” said Maya Zehavi, a blockchain consultant.
Because these positions are tokenized, though, they can go further.
This was a brand-new kind of yield on a deposit. In fact, it was a way to earn a yield on a loan. Who has ever heard of a borrower earning a return on a debt from their lender?
In a simple example, a yield farmer might put 100,000 USDT into Compound. They will get a token back for that stake, called cUSDT. Let’s say they get 100,000 cUSDT back (the formula on Compound is crazy so it’s not 1:1 like that but it doesn’t matter for our purposes here).
They can then take that cUSDT and put it into a liquidity pool that takes cUSDT on Balancer, an AMM that allows users to set up self-rebalancing crypto index funds. In normal times, this could earn a small amount more in transaction fees. This is the basic idea of yield farming. The user looks for edge cases in the system to eke out as much yield as they can across as many products as it will work on.
Right now, however, things are not normal, and they probably won’t be for a while.

Why is yield farming so hot right now?

Because of liquidity mining. Liquidity mining supercharges yield farming.
Liquidity mining is when a yield farmer gets a new token as well as the usual return (that’s the “mining” part) in exchange for the farmer’s liquidity.
“The idea is that stimulating usage of the platform increases the value of the token, thereby creating a positive usage loop to attract users,” said Richard Ma of smart-contract auditor Quantstamp.
The yield farming examples above are only farming yield off the normal operations of different platforms. Supply liquidity to Compound or Uniswap and get a little cut of the business that runs over the protocols – very vanilla.
But Compound announced earlier this year it wanted to truly decentralize the product and it wanted to give a good amount of ownership to the people who made it popular by using it. That ownership would take the form of the COMP token.
Lest this sound too altruistic, keep in mind that the people who created it (the team and the investors) owned more than half of the equity. By giving away a healthy proportion to users, that was very likely to make it a much more popular place for lending. In turn, that would make everyone’s stake worth much more.
So, Compound announced this four-year period where the protocol would give out COMP tokens to users, a fixed amount every day until it was gone. These COMP tokens control the protocol, just as shareholders ultimately control publicly traded companies.
Every day, the Compound protocol looks at everyone who had lent money to the application and who had borrowed from it and gives them COMP proportional to their share of the day’s total business.
The results were very surprising, even to Compound’s biggest promoters.
COMP’s value will likely go down, and that’s why some investors are rushing to earn as much of it as they can right now.
This was a brand-new kind of yield on a deposit into Compound. In fact, it was a way to earn a yield on a loan, as well, which is very weird: Who has ever heard of a borrower earning a return on a debt from their lender?
COMP’s value has consistently been well over $200 since it started distributing on June 15. We did the math elsewhere but long story short: investors with fairly deep pockets can make a strong gain maximizing their daily returns in COMP. It is, in a way, free money.
It’s possible to lend to Compound, borrow from it, deposit what you borrowed and so on. This can be done multiple times and DeFi startup Instadapp even built a tool to make it as capital-efficient as possible.
“Yield farmers are extremely creative. They find ways to ‘stack’ yields and even earn multiple governance tokens at once,” said Spencer Noon of DTC Capital.
COMP’s value spike is a temporary situation. The COMP distribution will only last four years and then there won’t be any more. Further, most people agree that the high price now is driven by the low float (that is, how much COMP is actually free to trade on the market – it will never be this low again). So the value will probably gradually go down, and that’s why savvy investors are trying to earn as much as they can now.
Appealing to the speculative instincts of diehard crypto traders has proven to be a great way to increase liquidity on Compound. This fattens some pockets but also improves the user experience for all kinds of Compound users, including those who would use it whether they were going to earn COMP or not.
As usual in crypto, when entrepreneurs see something successful, they imitate it. Balancer was the next protocol to start distributing a governance token, BAL, to liquidity providers. Flash loan provider bZx has announced a plan. Ren, Curve and Synthetix also teamed up to promote a liquidity pool on Curve.
It is a fair bet many of the more well-known DeFi projects will announce some kind of coin that can be mined by providing liquidity.
The case to watch here is Uniswap versus Balancer. Balancer can do the same thing Uniswap does, but most users who want to do a quick token trade through their wallet use Uniswap. It will be interesting to see if Balancer’s BAL token convinces Uniswap’s liquidity providers to defect.
So far, though, more liquidity has gone into Uniswap since the BAL announcement, according to its data site. That said, even more has gone into Balancer.

Did liquidity mining start with COMP?

No, but it was the most-used protocol with the most carefully designed liquidity mining scheme.
This point is debated but the origins of liquidity mining probably date back to Fcoin, a Chinese exchange that created a token in 2018 that rewarded people for making trades. You won’t believe what happened next! Just kidding, you will: People just started running bots to do pointless trades with themselves to earn the token.
Similarly, EOS is a blockchain where transactions are basically free, but since nothing is really free the absence of friction was an invitation for spam. Some malicious hacker who didn’t like EOS created a token called EIDOS on the network in late 2019. It rewarded people for tons of pointless transactions and somehow got an exchange listing.
These initiatives illustrated how quickly crypto users respond to incentives.
Read more: Compound Changes COMP Distribution Rules Following ‘Yield Farming’ Frenzy
Fcoin aside, liquidity mining as we now know it first showed up on Ethereum when the marketplace for synthetic tokens, Synthetix, announced in July 2019 an award in its SNX token for users who helped add liquidity to the sETH/ETH pool on Uniswap. By October, that was one of Uniswap’s biggest pools.
When Compound Labs, the company that launched the Compound protocol, decided to create COMP, the governance token, the firm took months designing just what kind of behavior it wanted and how to incentivize it. Even still, Compound Labs was surprised by the response. It led to unintended consequences such as crowding into a previously unpopular market (lending and borrowing BAT) in order to mine as much COMP as possible.
Just last week, 115 different COMP wallet addresses – senators in Compound’s ever-changing legislature – voted to change the distribution mechanism in hopes of spreading liquidity out across the markets again.

Is there DeFi for bitcoin?

Yes, on Ethereum.
Nothing has beaten bitcoin over time for returns, but there’s one thing bitcoin can’t do on its own: create more bitcoin.
A smart trader can get in and out of bitcoin and dollars in a way that will earn them more bitcoin, but this is tedious and risky. It takes a certain kind of person.
DeFi, however, offers ways to grow one’s bitcoin holdings – though somewhat indirectly.
A long HODLer is happy to gain fresh BTC off their counterparty’s short-term win. That’s the game.
For example, a user can create a simulated bitcoin on Ethereum using BitGo’s WBTC system. They put BTC in and get the same amount back out in freshly minted WBTC. WBTC can be traded back for BTC at any time, so it tends to be worth the same as BTC.
Then the user can take that WBTC, stake it on Compound and earn a few percent each year in yield on their BTC. Odds are, the people who borrow that WBTC are probably doing it to short BTC (that is, they will sell it immediately, buy it back when the price goes down, close the loan and keep the difference).
A long HODLer is happy to gain fresh BTC off their counterparty’s short-term win. That’s the game.

How risky is it?

Enough.
“DeFi, with the combination of an assortment of digital funds, automation of key processes, and more complex incentive structures that work across protocols – each with their own rapidly changing tech and governance practices – make for new types of security risks,” said Liz Steininger of Least Authority, a crypto security auditor. “Yet, despite these risks, the high yields are undeniably attractive to draw more users.”
We’ve seen big failures in DeFi products. MakerDAO had one so bad this year it’s called “Black Thursday.” There was also the exploit against flash loan provider bZx. These things do break and when they do money gets taken.
As this sector gets more robust, we could see token holders greenlighting more ways for investors to profit from DeFi niches.
Right now, the deal is too good for certain funds to resist, so they are moving a lot of money into these protocols to liquidity mine all the new governance tokens they can. But the funds – entities that pool the resources of typically well-to-do crypto investors – are also hedging. Nexus Mutual, a DeFi insurance provider of sorts, told CoinDesk it has maxed out its available coverage on these liquidity applications. Opyn, the trustless derivatives maker, created a way to short COMP, just in case this game comes to naught.
And weird things have arisen. For example, there’s currently more DAI on Compound than have been minted in the world. This makes sense once unpacked but it still feels dicey to everyone.
That said, distributing governance tokens might make things a lot less risky for startups, at least with regard to the money cops.
“Protocols distributing their tokens to the public, meaning that there’s a new secondary listing for SAFT tokens, [gives] plausible deniability from any security accusation,” Zehavi wrote. (The Simple Agreement for Future Tokens was a legal structure favored by many token issuers during the ICO craze.)
Whether a cryptocurrency is adequately decentralized has been a key feature of ICO settlements with the U.S. Securities and Exchange Commission (SEC).

What’s next for yield farming? (A prediction)

COMP turned out to be a bit of a surprise to the DeFi world, in technical ways and others. It has inspired a wave of new thinking.
“Other projects are working on similar things,” said Nexus Mutual founder Hugh Karp. In fact, informed sources tell CoinDesk brand-new projects will launch with these models.
We might soon see more prosaic yield farming applications. For example, forms of profit-sharing that reward certain kinds of behavior.
Imagine if COMP holders decided, for example, that the protocol needed more people to put money in and leave it there longer. The community could create a proposal that shaved off a little of each token’s yield and paid that portion out only to the tokens that were older than six months. It probably wouldn’t be much, but an investor with the right time horizon and risk profile might take it into consideration before making a withdrawal.
(There are precedents for this in traditional finance: A 10-year Treasury bond normally yields more than a one-month T-bill even though they’re both backed by the full faith and credit of Uncle Sam, a 12-month certificate of deposit pays higher interest than a checking account at the same bank, and so on.)
As this sector gets more robust, its architects will come up with ever more robust ways to optimize liquidity incentives in increasingly refined ways. We could see token holders greenlighting more ways for investors to profit from DeFi niches.
Questions abound for this nascent industry: What will MakerDAO do to restore its spot as the king of DeFi? Will Uniswap join the liquidity mining trend? Will anyone stick all these governance tokens into a decentralized autonomous organization (DAO)? Or would that be a yield farmers co-op?
Whatever happens, crypto’s yield farmers will keep moving fast. Some fresh fields may open and some may soon bear much less luscious fruit.
But that’s the nice thing about farming in DeFi: It is very easy to switch fields.
submitted by pascalbernoulli to Yield_Farming [link] [comments]

Large-scale updates of Tkeycoin. What’s next? — listing on the crypto exchange. Are you with us?

Large-scale updates of Tkeycoin. What’s next? — listing on the crypto exchange. Are you with us?

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Hello, everyone, It’s been a long time since you heard our team, someone thought we were gone, someone was waiting, and someone disappeared himself.
All this time we have worked hard to bring you good news. We will tell you what we have prepared for you, what events will be soon, what you can use right now and what else will be new in the year. And so, let’s go!

Preparing for listing on the exchange

The pandemic period played into the hands of the entire team and we managed to build beauty in our services. In anticipation of the exchange, the team tidied up the sites and services and connected new tools. First of all, we paid attention to the preparation of all services for a foreign audience, taking into account its mentality.
New sections, localizations, nice things, and much more to ensure the most efficient use of the TKEY resource. In addition to the new tabs, the services that we will talk about in this material, there is a special page for representatives of the exchange with the necessary documentation for listing — https://tkeycoin.com/en/documentation/.

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Full localization

Already today the official website tkeycoin.com available in 5 languages: Russian, English, Korean, Chinese (Simplified), Chinese (Traditional).

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We made adjustments to the Russian and English versions of the site, including support for Korean and Chinese for each section of the site. Professionals in their field, native speakers translated and adapted the information as it should be, and we, in turn, structured and framed it properly. So welcome!

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We will update language support for the site, and soon it will include support for all languages that are available in the mobile app.

QR Codes for Asian Audience


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Our friends and residents of Asian countries actively use QR codes in their lives, both when paying in stores and when working with websites. QR codes are used almost everywhere when renting a car or bike, we just open the phone, scan and the mode of transport becomes available for use, anything is available for rent, even a battery, even an umbrella.
“It was a hot May day. Seven-year-old Wang Jiaozui came out of school and saw his grandfather, who came to pick him up. He was standing in the sun, and his shirt was soaked with sweat. Jiaozui invited the grandfather to buy a cold Cola in the shop, but he forgot her purse at home. It turned out that this is not important — the boy took his grandfather’s smartphone and called the payment app with a QR code on the screen.” ©
What to say if QR codes are used even to identify entire farms. By pasting QR codes on farm buildings and then scanning them, government inspectors can quickly figure out who owns the building and whether its owners are violating any laws.

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We must be on the trend! Now a special library generates QR codes for the desired page, any tab on the site tkeycoin.com in Chinese and Korean-accompanied by a QR code that leads to the requested page: fast, convenient, and simple.
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Providing this opportunity to our colleagues and future users of Tkeycoin from Asia is a friendly approach and most importantly, a strategic step on our part. After implementing QR codes, we are undoubtedly drawn into the convenience of this function, which we recommend to You:) If you like it, we will make QR codes on the Russian and English versions of the site.

Buying and withdrawing cryptocurrency to a Bankcard


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On the site, you can now buy Bitcoin for pound, dollars, euro, and any other currency. This is a powerful automated service for instant exchange of fiat currencies for cryptocurrencies. The system works around the clock and seven days a week, allowing everyone to conduct exchanges at any time of the day and in the shortest possible time.
Withdrawal to a Bank card will be available until the end of the month, we finish the details, the page is available now, and the withdrawal itself will be activated during this week. You can buy Bitcoin, Ethereum, or any other currency right now.

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These features are the future for the function of purchasing any product or service for TKEY at any point of sale, which will form the basis of the mobile app, quickly, conveniently, and most importantly, observing the letter of the law.
All we do is build an Empire that is being built before your eyes. Every service and product is connected, so any update promises the appearance of even more cool and effective features than before.

Buying cryptocurrency for pound, dollars, euros, and other currencies

At the end of February, we told you that we are working on building a payment service that will include the provision of services: buy cryptocurrencies, sell a cryptocurrency, withdraw cryptocurrency to Bank cards, etc.
This day has come, now you can buy Bitcoin (BTC), Ethereum (ETH), Tether USDT, Basic Attention Token (BAT), Algorand (ALGO), Tron (TRX), OKB (Token Okex.com).

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The purchase is available in any currency: Russian ruble, US Dollar, Euro, British pound, Ukrainian hryvnia, Indonesian rupiah, South Korean won, Japanese yen, Turkish Lira, Argentine peso.
As you can see, the currency corridors are quite extensive, which allows you to make exchanges fast and at a favorable rate. Just choose the right pair to exchange or buy, available fiat currencies: RUB, USD, EUR, GBP, UAH, IDR, KRW, JPY, TRY, ARS, available cryptocurrencies: BTC, ETH, BAT, USDT, ALGO, TRX, OKB.
Even if this wide list does not include the currency you want to buy, such as Bitcoin or USDT, it’s okay — the service will automatically convert your currency into the payment currency and the Bank will make the exchange. Exchanges take place within 1–3 minutes, it is enough to pass quick verification once, which allows you to work with a volume of > 15,000 euros per month.

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Exchange of cryptocurrencies for pound, dollars, euros, and withdrawal of Bankcard

In addition to the fact that you can now easily buy a cryptocurrency for fiat currencies, pound, dollars or any other, during this week we will finish work on the withdrawal to a Bank card and you can easily withdraw your profit to the card, the most important thing is that this is a completely legal method, and all operations pass through banks and jurisdictions where work with digital assets is legalized.
This means that when you buy or make a withdrawal to the card, you get legal funds that are credited to you by the Bank or payment system.
If you are used to working with effective tools that work in a new way, or rather correctly and legally, then this service is for you. Fast crediting, easy exchange, a large selection of currency pairs, that’s what the company is betting on.
We work with the most reliable third-party partners to make your cryptocurrency process easy and convenient, and most importantly safe for You. The service supports plastic and virtual Bank cards VISA, MasterCard, MIR, and other payment systems for fast payment processing.

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On the exchange page, you can choose any currency pair to exchange in the opposite direction, for example, GBP to BTC or USD to BTC. Choose a suitable pair for exchange, available fiat currencies: RUB, USD, EUR, GBP, UAH, IDR, KRW, JPY, TRY, ARS, available cryptocurrencies for exchange: BTC, ETH, BAT, USDT, ALGO, TRX, OKB.
How it works
When buying cryptocurrency for the first time, your Bank reserves (holds) the requested amount, then this amount is transferred to the authorization waiting state. As soon as the Bank freezes the fiat funds, the service fixes the exchange rate at the time of creating the application, reserves the cryptocurrency, and provides you with 30–40 minutes to complete verification. After successful verification, the service charges cryptocurrency to the wallet.

Quick verification

Verification takes 2–3 minutes and requires only one time to perform operations every day. The “Know Your Customer” (KYC) procedure is necessary to exchange cryptocurrencies for fiat currencies.

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As you understand, you need to pass verification 1 time, regardless of whether you withdraw funds or buy currency, after passing verification, all services are available to You without any further confirmation.

New currency

Support for other currencies, including TKEY, will be added gradually and highlighted through service updates. As for the TKEY exchange, it will become available in exchange services after listing on the exchange. Listing on an exchange allows you to automate the exchange process, link the necessary services, and most importantly, the exchange provides liquidity, which is key when we talk about exchanging for a particular currency.
We will tell you more about the operation of the service and its advantages, chips, in a separate material dedicated to the withdrawal and purchase of cryptocurrencies for fiat currencies, as well as touch on various banking issues and tell you how you can combine the SWAP service for more efficient exchange and withdrawal to the card.

Charitable activity

By making an exchange or purchase of cryptocurrency, you help children and people who need our help. We deduct 0.1% of the profit from each transaction to charity funds.
This is the fastest and most comfortable way of charity, which allows you to bring together people who are not indifferent to other people’s problems. TKEY enables people to do good deeds, and the resulting turnover profit of 0.1% is sent to charity funds every month. Together with You, we create new opportunities for people in need who need help — “Big things have small beginnings”.
How does it work?
You have made an exchange or purchase operation, the company has accumulated the volume of these operations for a month->the company has chosen a charity Fund->sent funds to the charity Fund’s account. Priority charity funds are children’s aid funds. You can always suggest a candidate for a particular Fund by sending a message to [[email protected]](mailto:[email protected]).
Why do we write Funds and not a Fund?
This is the first launch of the service, so depending on the monthly volume, we will focus on distributing funds to one charity or several. For example, if we have accumulated $ 10,000, we can distribute $ 5,000 to 2 funds. if we have accumulated $ 100, it is logical that we will only send this amount to 1 Fund. With the development of the service, we will be able to focus on several funds, which we will actively help due to the received volume.

New sections, improvements for existing services

Menu logic and site structure

The menu logic has been revised. now more items are available on the menu and they are divided into sections. Navigation through the sections has become much easier and more convenient. for some sections, QR codes are available for Russian and English-speaking audiences, and for representatives of Asian countries, all sections are available by QR code.

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TKEYSPACE Promo Page

New blocks were added, the entire page was fully localized and is available in Chinese, Korean, English and Russian, and QR codes were added for easy navigation for the Asian audience.

Documentation for the exchange

We have already mentioned that there is a section for exchanges with the necessary documentation for listing, now it is available in English. In the next updates, it will be translated into Russian, Chinese (Traditional and Simplified), and Korean.

Market Data (Coin Data)

The market data section has been optimized for mobile apps. Charts are expanded and optimized page borders for most mobile devices, and you can search for cryptocurrencies and tokens that interest you.

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FAQ

Added answers to frequently asked questions in various sections of the site, You can find the information directly on the section page, for example, TKEY-QT, SWAP or Core. Right on the page there is a FAQ section, in which we disclose answers to questions, for example: How are You going to solve the scalability problem, or why did you choose Phoenix as the logo and symbol of the project, or how do you exchange cryptocurrency for pound or dollars? As you can see, you can get answers to different questions, depending on the topic of the site section.

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Footer

For convenience, the site’s footer has been expanded and new sections (quick tabs) are included, which are also available in the QR-code format. In addition to various details, the footer is now accompanied by the company’s coat of arms — the Phoenix, which is the symbol of the entire community, the Phoenix Alliance.

https://preview.redd.it/xija83vjwe151.png?width=700&format=png&auto=webp&s=dd7ce476b53ebe2a891d32231725650bac7ba181

Page 404

Added page 404, which is also an integral part of the site. now when you go to a non-existent site page, all the necessary menu items are fully available to us, which will quickly Orient You and direct you to the desired section.

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What is waiting for us in the nearest future?

In addition to various improvements, connecting services, our team has been working every day on other main areas of the Tkeycoin project, which are already being prepared for the next release and we will tell you what updates, what plans, events, and what else will be interesting this year.

Online conference with management

An online conference in question-answer format will be organized. The main task of the conference, in addition to questions and answers, is to discuss plans, talk about new directions, touch on issues of legislation, and analyze current issues of users.
The online meeting format will allow you to get feedback and discuss a large number of issues in a short time. Questions related to technical support and other questions that can be answered through the administration will not be discussed.
The meeting involves the development, constructive, and suggestions from users for further development of the Tkeycoin project. If you are interested in participating in the conference, you can also make business proposals during it, please use the time to your advantage. We work for you.

New content: reports, new categories, useful information

Based on user feedback, we introduce new categories to our content plan:
Reports This section will be accompanied by information about the work done by the team for the month, the format of submission — abstracts, highlights. This format will help establish feedback between users and developers.
Question-answer
In addition to the content that we produce ourselves, users have questions that arise during the process of working with the project’s services, as well as during interaction with the project itself. To avoid making guesses and making up stories, we have introduced the question-answer category.
Users ask questions in comments, and the company prepares answers based on the questions and they are published in the post. Depending on the number of questions, the post generates all the answers, or the post is divided into parts if the number of questions for the past period was the largest. In addition to asking questions, you can make suggestions to the project, for example, about new features or directions.
This format also builds feedback and helps to improve all services. the most important thing is that it can not only help us but also you, as the offer and questions will help you focus on the tasks that the end-user wants to see.

TKEY-POOL (Tkeycoin pool)

We are completing the work and debugging of the official pool for Tkeycoin, this is a completely new approach for mining Tkeycoin. The pool will feature higher performance and stable architecture, a light interface, and objective commissions.
A pool is a highly loaded system that works 24/7/365, it turns out that such a product hides a sufficient number of lines of code and, most importantly, is built on a reliable architecture that can withstand +50000–100000 miners, not to mention the number of connected devices for this number of miners.
A cryptocurrency pool is a combination of the hardware power of many miners at once to increase the probability of finding a block. The reward for a block obtained by the pool is distributed among all participants.
The TKEY pool is developed taking into account the features of the Tkeycoin blockchain, including multi-blockchain, transaction model, hashing, blocks, and other nuances that are an upgrade of the blockchain among others. Together with the pool, the TKEY network is being tested: high loads, attacks, and other tests that show positive results, proving that the TKEY blockchain can work under any loads and is protected from attacks.
Our task was to: 1. Stable system for handling high loads; 2. Adaptation pool for any software; 3. Connecting any hardware for mining cryptocurrency Tkeycoin; 4. Fair remuneration calculation; 5. Security.
The main goal is for any user, regardless of the software and hardware used, to be able to connect to Tkeycoin mining via a pool. The first releases will be accompanied by a simple user-friendly interface, easy connection, instructions for various mining programs that can be connected.
In future releases, we will optimize the operation of the pool, add new features, as well as tracking functions and other nice things. any suggestions from miners and the community are interesting to us and will be implemented, so do not hesitate to send your suggestions after the launch.

TKEYSPACE updates


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Work on the TkeySpace mobile app is also not standing still. We will soon release updates for TkeySpace on Android and iOS.
This release is a complete transition to the most stable version of the mobile wallet. This means that after the update, even with the largest changes, the user will not need to completely reinstall or restore to use the new features, as before, just update the app via the AppStore or GooglePlay.
Between the previous update has been a sufficient amount of time, on average, updates are released once a month. This update will be one of the major ones. We are finishing work on the code to prepare the app for the new features that will be available this year. Besides, we are improving the app’s logic, data processing speed, optimizing the code, restoring order, and preparing for the global market.

Exchange, purchase of cryptocurrency and withdrawal to the Debit/Credit Card


https://preview.redd.it/1maxjrqowe151.png?width=700&format=png&auto=webp&s=cefd5bf1ec823049eeb25640c470024a41c0430c
In addition to pleasant optimizations, the app will display the exchange and withdrawal to a Bankcard, tab with an optimized page for exchange, withdrawal, and the purchase will be available directly in the mobile app. This upgrade will also capture the cryptocurrency exchange SWAP page, which can be evaluated after the update. Other features and new features will be announced by the developers immediately after the release.

SWAP Update

The development team is finishing work on optimizing the SWAP service. Regardless of updates, it is available in working mode 24/7/365. The team is working on improving the operation, optimizing the page, changing the interfaces, improving navigation, and speeding up query processing. This update is also among the upcoming ones, along with the pool, mobile wallets, and other news that will excite.

Network Statistics

In the network statistics section, there are several sections that will be fixed — this is the hash rate of the network and the volume of Tkeycoin. Now the volume of Tkeycoin is displayed by mTKEY, and the graph itself indicates M TKEY, the user may incorrectly understand the volume of transactions in the network, so, given the current volume, it is advisable to switch the display to TKEY, and in the future switch to mTKEY for large volumes.
TKEY is divided into cryptograms (CryptoGramm, cgr), uTKEY (keys), and mTKEY. 1 TKEY = 100 000 000 cryptograms. 1 mTKEY = 100,000 cryptograms. 1 TKEY contains 1000 mTKEY. 1 mTKEY = 0.00100000 TKEY 1 uTKEY =100 cryptograms 1 TKEY contains 1,000,000 utkeys. 1 uTKEY (keys) = 0.00000100 TKEY 1 cgr = 0.00000001 TKEY

Cryptocurrency Exchange

This issue has become the cause of mass discussions, disputes, investigations, the subject of memes, kitchen, and online conversations, that just did not happen, that TKEY is not taken anywhere, someone made guesses that we are waiting for everyone to run away, or TKEY is a world conspiracy and around some actors, you can write a book or shoot a great series, not worse than Breaking Bad.
Jokes, jokes, but the question is serious. Since the 4th quarter of last year, the company has been actively working on the issue of listing, prepared the necessary platform for this, held several meetings, negotiations, released the necessary products, figured out various transfers of funds to the blockchain, worked out many small things, many major issues that were behind the scenes. Everything is ready, and it’s time to start soon. This will be a surprise, believe it or not, and we will meet you on the stock exchanges :)

What other plans does the company have?

Enabling payment at retail outlets

After entering the exchange, we will actively engage in connecting payments to implement them and link them to TKEY. The plan, strategy, and legal component are ready.

Payment development

This implies the development of payments and services that will expand the use of digital currencies in the commercial sphere. Application on the territory of Russia will depend on the Federal law on the CFA, in any case, we plan to analyze the law, after its release, to find a legal way to implement payments based on blockchain and digital assets. Therefore, until the law is released, we are keeping this initiative in the future, and we will work on other jurisdictions that will support it.
We left some plans behind the scenes, because they will make the greatest impact on the market and the value of our asset, and this — likes silence.

What useful materials will be released soon?

How to effectively use the SWAP service together with the exchange and purchase of cryptocurrency from a Bank card?

We will tell you in detail how to use these 2 services, how to save on payments and purchases, how to exchange tokens that are very difficult to exchange, how to quickly get money for them to the card, and much more.

The law CFA

Our opinion about the law of cryptocurrencies in Russia, what to pay attention to, what to prepare for, how to act if there is a complete ban. Let’s talk about legal nuances and banking practices.

TKEY blockchain

In this material, we will talk about the blockchain, analyze the issues of the system, expand the questions on attacks, payment processing, and touch on the system of multiple chains. The article suggests your suggestions, perhaps someone will have ideas that we will implement in the chain.
At the end,
Don’t forget to ask questions in the comments or send suggestions to [[email protected]](mailto:[email protected]) we will be happy to respond and consider your requests for any of our services. Collaboration, feedback, help us make the whole platform better.
Thank you for being with us! Until new meetings, stay tuned for news, updates, because the most unexpected news comes spontaneously.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

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