Cryptocurrency

Overview of the "hype" coin for miners: ALEO

Today we will talk about the new ALEO coin, which has already received very high interest from Chinese investors and miners, even taking into account the fact that the coin is currently working on the test network, and the miners will soon move to the main network. It is worth noting the fact that mining in the test network will be rewarded by the developers of the coin. After switching to the main network, miners will receive a distribution of coins in the ratio of 5 to 1 (that is, for every 5 coins mined in the test network, you can receive 1 coin in the main network).

CPU mining: what to mine on the new AMD Ryzen 7950X in 2022-2023?

Given the high performance of AMD processors in workloads and cryptocurrency mining, we were wondering how good AMD's older CPU - Ryzen 9 7950X from the new AMD 7000 series processor line is in this business. Let's try to figure out what at the moment (12/12/2022) is the most profitable to mine on this processor and whether it is generally profitable. In addition, we will test this processor and find out its hashrates for the most popular CPU mining algorithms for cryptocurrencies.

NEXA is another interesting GPU mining crypto project

Recently, a large number of interesting and possibly promising tier 1 mining projects have appeared, some of them are unusual in that they use a new mining algorithm. This is due to the fact that after the transition of Ethereum (Ethereum) to PoS, miners are in constant search of crypto projects that could be mined and have at least some income. NEXA is one of these new cryptocurrencies that can be mined with GPUs. The coin was launched just a couple of months ago, and at the moment it is rather little known. Initially, NEXA could only be mined with the help of a central processing unit (CPU), however, a GPU miner was recently released, which slightly fueled interest in this coin. NEXA uses its own GPU-intensive Nexapow mining algorithm, which means that new powerful graphics cards will have a high hashrate, and it will be possible to lower the frequency of video memory and reduce its voltage to reduce overall power consumption. It is worth noting that the project has a very high emission (issue) of coins - 21 trillion, an average block time of 2 minutes and a block reward of 10 million NEXA coins.

Optimizing and tweaking Nvidia graphics cards to reduce power consumption in Radiant (RXD) mining

Radiant is another cryptocurrency that managed to enter the top of the most profitable coins for mining at the moment. This applies mainly to video cards of the last two generations (3000-4000 series), which in some coins can still show a positive mining income even with electricity at 10 cents per kW/h. All thanks to the high energy efficiency of the latest generations of video cards, coins based on low-power algorithms, well-tuned (undervolting) hardware and setting up mining software. In this article, we will share with you some tips for optimizing Nvidia GPU to increase hashrate and reduce power consumption in Radiant (RXD) mining using Bzminer software.

Video card hashrate based on the SHA512/256d algorithm. Cryptocurrency mining Radiant RXD

Profitable mining on video cards in the fall of 2022 is not easy, because. you need to constantly look for new cryptocurrencies for mining to which the bulk of video cards have not yet had time to switch. One such cryptocurrency is Radiant with the SHA512/256d mining algorithm. The hashrate on this algorithm primarily depends on the performance of the GPU chip, not the memory, so the hashrate directly depends on the number of processing cores and the frequency of the GPU.

Mining Ethereum POW (ETHW). Instruction.

The Ethereum POW cryptocurrency appeared as a fork (copy) from the original Ethereum, after it abandoned POW mining on video cards and ASICs and switched to POS mining on September 15, 2022. Ethereum POW, as the name implies, has remained true to POW mining and, as the developers promise, there will be no commission burning in ETHW and the complexity bomb will be removed, i.e. miners will receive another Ethereum clone similar to Ethereum Classic (ETC), but only with a large 5Gb DAG file and all the updates that were in the original Ethereum since 2016, when ETC appeared. We are more interested in the possibility of mining ETHW and the material part of this transition, because. mining ETHW is now about 10 times more profitable than any other options. Therefore, let's take a closer look at how to start mining Ethereum POW.

What cryptocurrency to mine on video cards instead of Ethereum

Yesterday, September 15, 2022, the long-awaited transition of the Ethereum cryptocurrency from POW mining to POS mining took place. As a result, about 900TH/s of power or about 30 million video cards of the RX580 level are now actively looking for a cryptocurrency that can replace Ethereum as a reliable and profitable mining.

How much income will validators receive from Ethereum POS mining

The transition to Ethereum POS mining is inevitably approaching its logical conclusion, and with the passage of the next important stage - the Bellatrix hard fork in the Beacon chain network, important details on the distribution of income from POS mining become available. POS mining income can be received by validators who launched a node with at least 32 ETH in their account, it was possible to launch your own validator at the end of 2020, when the Beacon chain was enabled. During all this time, everyone who turned on their ETH2 node received income on their validator account, which is not possible to withdraw at the moment, and even after switching to POS, it will also not be possible to do so. When the two POW and POS networks merge into one POS, validators will receive additional income from the commission in the network, in addition to what they have already received over the past two years.

How to make money on the transition of Ethereum to POS now

The Ethereum cryptocurrency will most likely switch to POS on September 15, 2022, and the POW branch will not disappear and will exist as a fork from the original Ethereum (ETH) under the expected name EthereumPOW (ETHPOW). Thus, a similar situation will repeat itself in 2016, when Ethereum Classic (ETC) appeared, after the DAO hack, and the rollback of the entire Ethereum chain a few days ago. Recall that at the time of the appearance of Ethereum Classic, everyone who owned the original Ethereum received the same amount of Ethereum Classic, i.e. instead of one Ethereum coin, you now had ETH and ETC. In other words, you could sell your ETC without any risk, keeping your original ETH capital intact. In September 2022, there will again be a unique opportunity for Ethereum owners to make easy money by keeping the original Ethereum and selling EthereumPOW. But in fact, it is not at all necessary to wait for September. you can get ETHPOW right now and sell it accordingly, you can also right now, while keeping your ETH. We will tell you more about how to do this below.

DAG file of Ethereum cryptocurrency increased to 5 GB

The Ethereum cryptocurrency uses the Dagger-Hashimoto or ETHash mining algorithm, the main feature of which is the loading of a special DAG file into memory. Over time, the DAG file is gradually increasing and by now it has almost reached 5Gb, to be precise, on August 8, 2022, the DAG file of the Ethereum network has a size of 4.977Gb. The 5Gb mark, as expected, the DAG file will pass on August 17, 2022 on block number 15360000. only ASICs and a very specific Nvidia P102-100 video card, released in 2018, as a cropped version of the GTX1080 Ti specifically for mining, have 5Gb video memory, so we don’t see the same hysteria now as it was when the DAG file reached 3Gb and 4GB. Recall that 3Gb had AMD R9 280x video cards and more recent Nvidia GTX 1060 video adapters, which were popular in mining, and 4 Gb had already excluded the super-popular RX480 and RX580 from Ethereum mining.

Surge, Verge, Purge and Splurge or what awaits us after the transition of Ethereum to POS

In the fall of 2022, the Ethereum crypto project is expected to switch to a new blockchain in which, instead of POW mining on video cards, there will be POS mining with validators. The transition event itself is called Merge (merge) - it is called so due to the fact that at the moment there are two Ethereum branches at once, which will eventually merge into one. The first branch is the main one and launched in 2015 (POW), the second branch is the test Ethereum 2.0 launched in 2020 (POS). Because The transition to POS is not the end point in the development of Ethereum, therefore, improvements to the unified blockchain under the names Surge, Verge, Purge and Splurge are already planned. These major updates to the Ethereum network were announced by Vitalik Buterin at a conference in Paris (19-21.07.2022). Previously, we recall that major updates from Ethereum had the names of cities: Byzantium, Constantinople, St. Petersburg, Stanbul, Berlin, London. Now a little more about what to expect in the near future from ETH developers.

POW mining of TON cryptocurrency has ended

The TON(The Open Network) cryptocurrency appeared in 2021 as a successor to the idea of the GRAM cryptocurrency, which was supposed to be an addition to the Telegram messenger, but was banned by the US government. TON, like GRAM, focuses on sharing with the Telegram messenger, but from an independent developer. Initially, the TON cryptocurrency was designed with POS mining, but at the start of the blockchain of this cryptocurrency, special 10 premine addresses were created. Access to which could only be obtained through POW mining, i.e. mining with video cards.

TONcoin cryptocurrency. Description, price, mining and perspectives

The cryptocurrency TONcoin (The Open Network) was launched in the summer of 2021 and originally referred to the original TON (Telegram Open Network) of Nikolay and Pavel Durov, the founders of the popular messenger Telegram. But due to the fact that the Durov brothers abandoned this project back in 2020 because of their inability to coordinate the issue of their own cryptocurrency with the US government (more precisely with the SEC - Securities and Exchange Commission), the attitude towards the TONCoin released in 2021 was at the level of a SCAM project that exploits a well-known name. This all changed from one Message of Pavel Durov in his Telegram account, where he confirms that the new TON coin not only involves the developers of the original TON cryptocurrency from 2018, but also uses the developments of this project. In other words, now the TONcoin project has drastically changed its status from a cryptocurrency of the level of a SCAM project, to the level of an affiliated cryptocurrency supported by a well-known personality in the IT industry. In fact, on this news, the value of TONcoin in just a few hours soared by a decent 60% to 3.7 USD per coin.

SNAP Token Public Sale 100% Sold, IEO Closes Successfully

The SNAP token public sale closed successfully at 9:00pm (GMT+8) on Tuesday 14th December. All token allocations for private sale, public sale, and launchpads were fully sold.

Issued by SnapEx, a game-changing crypto derivatives platform, the SNAP Token IEO began with a private sale exclusively for SnapEx users on Friday 3rd December, followed by a public sale the next day on Saturday 4th December.

The SNAP token private sale quickly sold out within 1 hour and 43 minutes, with thousands of old and new SnapEx users grabbing tokens priced at $0.02.

Investments in Ethereum 2.0 for the year yielded a profit of 8% per annum

In December 2020, the Ethereum Foundation launched the Beacon Chain - the basis for Ethereum's transition to POS mining and the expansion of the functionality of the entire cryptocurrency. The Beacon Chain requires validators who need to keep 32ETH on their account, for maintaining the ETH network in working order, validators are paid a reward in ETH. You can read in more detail how this process takes place in this article: How POS mining works on the Ethereum 2 network. If at the start of the Beacon chain validators were promised to pay 21.7% per annum, then over the past year the number of validators increased 10 times to 272,000 (almost 9 million ETH), due to which the profitability of POS mining of validators fell to 5% per annum.

Arrow Glacier update on the Ethereum cryptocurrency POW network

Another POW update of the Ethereum cryptocurrency chain called Arrow Glacier is scheduled for December 9, 2021. This hard fork will adopt only one change numbered EIP - 4345. This update postpones the so-called ice age or complexity bomb until June 2022. If anyone doesn't know, the complexity bomb is a gradual increase of time between blocks in POW network, which accordingly decreases the income of miners and increases the cost of gas for users of smart contracts. Also in the mentioned EIP-4345 it is said, that the merging of Ethereum POW and POS network should take place before June 2022 and the developers themselves put another deadline for themselves on this date. Which can once again be questioned, as this is not the first postponement of the complexity bomb. To be more precise, it is the 5th postponement of the deadline for the transition to the POS. The first postponement of the complexity bomb was back in the fall of 2017 in a hardfork called Metropolis: Byzantium. Whether or not Ethereum cryptocurrency's two different chains will merge this time to another complexity bomb is probably for everyone to decide for themselves and draw appropriate conclusions about mining this cryptocurrency, and crypto investing. But one thing is for sure - the transition of Ethereum to POS will be one of the most significant events in the cryptocurrency world.

How POS mining works on the Ethereum 2 network. Synchronization committee and light clients after the Altair hardfork.

Classic POW mining on processors, asics and video cards has existed since the emergence of Bitcoin in 2009. POS mining has also been around since 2012 (PPCoin cryptocurrency), but Ethereum's much-anticipated transition to POS mining will have little to do with what we have come to understand as POS mining. Ethereum 2 POS mining is not just storing a certain amount of cryptocurrency on a wallet or node, but also performing the necessary calculations to maintain the network in working order and protect it from hacker attacks. In other words, POS mining in Ethereum network will be a kind of symbiosis of POS and POW mining, where there will be no concept of network hashrate, i.e. there will be no need to constantly increase the capacity of your equipment to compete with other miners. Hacking protection will now be based not on the difficulty of getting 51% hash capacity, but on running 51% number of nodes with a balance of 32ETH for each node. Therefore, the power of your hardware is of secondary importance, you only need to provide a minimum level of performance and further capacity increase will have no effect whatsoever. As of today, the ETH2 network contains 250.480 validators, or 8.239.286 ETH, which means that 51% of the validators would need to be controlled, which means that to attack the ETH2 network you will need 125.000 validators, or 4 million 200 thousand ETH (17 billion dollars at the current exchange rate). That's a lot of money. But even if someone wanted to carry out such a plan, 51% of the validators would not be enough, because there are so-called committees in the ETH2 network.

Cuprum Coin "CUC": The cryptocurrency of the future is attracting huge interest from crypto investors

On October 08th Cuprum Coin s.l.l.c. launched the pre-sale phase of its commodity-backed cryptocurrency, with an underlying asset, worth over US$60 Billion, and attracted over 69,7k unique visitors in 30 days.

Cuprum Coin project aims to deliver value by combining Blockchain technology built on the eco-friendly Tezos platform with a highly demanded and valuable commodity - ultrafine copper powder. This project will allow anyone to invest in a commodity that has been available to privileged institutions for decades.

Hashrate video cards on the FiroPow algorithm, Firo cryptocurrency

Firo cryptocurrency, formerly known as Zcoin, held another hardfork on October 26, in which it changed its mining algorithm from MTP to FiroPow. Whereas MTP hash rate only depended on the GPU chip, FiroPow mining directly involves the onboard memory of video cards. FiroPow is another version of the ProgPow algorithm, to which the transition of Ethereum cryptocurrency was once considered. FiroPow, like Ethereum, has a Dag file that must be kept in video card memory, but the hash rate of the video card depends more on the performance of the GPU chip than on the memory bandwidth. Firo cryptocurrency's DAG file size was originally set to just over 4Gb, so all video cards with less video memory will not be able to mine this cryptocurrency.

Cuprum Coin: "One of the most valuable cryptocurrencies in the world successfully launched"

Cuprum Coin s.l.l.c. announced the launch of the pre-sale phase of its commodity-backed cryptocurrency, with an underlying asset in the form of ultra-fine copper powder, worth over US$60 Billion. Although the launch was announced for September 15, due to minor delays, Cuprum Coin was successfully launched on October 8.

Cuprum Coin project aims to deliver value by combining Blockchain technology built on the eco-friendly Tezos platform with a highly demanded and valuable commodity - ultrafine copper powder. This project will allow anyone to invest in a commodity that has been available to privileged institutions for decades.