5 Best Bitcoin Mining Hardware ASIC Machines (2020 Rigs)

AMA with Sinovate, a new GPU friendly coin with new innovations to the space

SINOVATE
What SINOVATE is aiming on Cryptocurrency Market?
SINOVATE is created for Innovation and it aims to keep bringing never before seen Innovations in the crypto market.
What is Infinity Nodes, why different from Classical Masternode System? Infinity Nodes are groundbreaking evolved masternodes that solves the inflation problem. Traditional masternodes start with high ROI but with very large inflation and that inflation is what inevitably makes them fail.
What is IDS, why is it better than cloud storage? And size providers how to get/ earn SIN?
IDS = Incorruptible Data Storage.
IDS is a peer-to-peer private networking system, which will permit transactions and storage between miners and Infinity Node owners. Competitors including Sia, Storj, BitTorrent and even IPFS solutions reward individuals for serving and hosting content on their hard drive space, which requires a 24/7 uptime for computers. User hard drives must remain open and the rewards received must justify the costs incurred for leaving computer online.
In IDS, the private networking of decentralized storage relies solely on the SINOVATE Blockchain, with only node owners receiving rewards as compensation for utilising their hard drive resources to run an Infinity Node. Node owners will get rewards both from the Infinity Nodes and from storing confidential data.
IDS will have 5 steps of evolution.
SINOVATE has 533 tp/s. How are you planning to use this as a use case?
Scalability is one of the biggest problems in cryptocurrencies. POS only or centralized cryptocurrencies have higher scalability but are not suitable for the original Satoshi plan. Satoshi Nakamoto’s dream was everybody to mine their own coins without being centralized so SINOVATE blockchain not only is the most scalable POW cryptocurrency but will also have much more increased scalability in the future. Mass adoption requires high scalability especially when it will be used in real life as a payment means. Are we going to see SINOVATE Payment System in the future?
SINOVATE payment gateway will be released this year with high scalability and less than 3 seconds transaction times with the help of FlashSend.
What is SINOVATE aiming with X25X Algorithm?
SINOVATE formerly SUQA always aimed at the ordinary user starting with the X22i custom algorithm and upgraded to X25X to fight the big hardware companies so everyone can mine their own coin without letting ASIC,FPGA companies dominate the network.
Algo Comparison Chart
We are committed to remaining ASIC / FPGA resistant and such use an ever evolving algorithm, the latest variation named X25X launched with the last update. It is protected from difficulty attacks using Dark Gravity Wave v3 and raises the memory requirements compared to X22i bt a factor of five making it harder for ASIC / FPGA to implement.
What is Komodo dPOW , and when is the plan implementation on SINOVATE?
dPoW diagram
KOMODO DPoW is a working and trusted 51 % Attack protection technology to prevent any kind of malicious attacks by the help of notarized data of Bitcoin, KOMODO and SINOVATE chain.
What is the current status on mobile wallets? We saw a mobile wallet trailer.
Mobile wallets will be released in July 2019 as a custom good looking wallet tailored to the specific needs of SIN Blockchain
What is the plan for adoption in real life SINOVATE?
Our team draws from a large diversity of skills from many areas of business and across many different industries. This allows us to design and hone the experience of interacting with the SINOVATE Blockchain at many levels, from developers, business leaders and operational levels, down to the end-user experience.
This allows us to develop software and user experiences from the perspective of all involved, ensuring that the end user is the primary focus.
What is the current financial status on SINOVATE?
SINOVATE are transparent about the financial status of the foundation and the activity taken with funds. We regularly publish updates and the latest one for June is here.
What partnerships will there be in the future?
Besides the Masternodes related partnerships, SINOVATE partnered with KOMODO for the integration of dPoW 51% attack protection, which will be active at the end of July or early August 2019.
As the foundation’s mission is to grow the space for all. We are happy to work with all projects and businesses both by learning from the great work others have undertaken and offering something back to other projects with our open source code.
With Governance what can it do for the community?
Decentralized governance is the future of any successful blockchain project, SINOVATE believes that blockchain will be ubiquitous in the underlying infrastructure and services in the future of everyday life. Having fair voting for developments, marketing and innovations of the SINOVATE chain will be very important for everyone.
Hopefully that covers as an introduction, please fire away below with any questions you might have for us and feel free to join sinovate for the latest news!
Edit - Thanks for the great questions and discussion. First round answered by our CEO u/cryplander, feel free to shoot more :)
submitted by nick_badlands to gpumining [link] [comments]

AMA with SINOVATE, a new GPU friendly coin with new innovations to the space

SINOVATE
What SINOVATE is aiming on Cryptocurrency Market?
SINOVATE is created for Innovation and it aims to keep bringing never before seen Innovations in the crypto market.
What is Infinity Nodes, why different from Classical Masternode System? Infinity Nodes are groundbreaking evolved masternodes that solves the inflation problem. Traditional masternodes start with high ROI but with very large inflation and that inflation is what inevitably makes them fail.
What is IDS, why is it better than cloud storage? And size providers how to get/ earn SIN?
IDS = Incorruptible Data Storage.
IDS is a peer-to-peer private networking system, which will permit transactions and storage between miners and Infinity Node owners. Competitors including Sia, Storj, BitTorrent and even IPFS solutions reward individuals for serving and hosting content on their hard drive space, which requires a 24/7 uptime for computers. User hard drives must remain open and the rewards received must justify the costs incurred for leaving computer online.
In IDS, the private networking of decentralized storage relies solely on the SINOVATE Blockchain, with only node owners receiving rewards as compensation for utilising their hard drive resources to run an Infinity Node. Node owners will get rewards both from the Infinity Nodes and from storing confidential data.
IDS will have 5 steps of evolution.
SINOVATE has 533 tp/s. How are you planning to use this as a use case?
Scalability is one of the biggest problems in cryptocurrencies. POS only or centralized cryptocurrencies have higher scalability but are not suitable for the original Satoshi plan. Satoshi Nakamoto’s dream was everybody to mine their own coins without being centralized so SINOVATE blockchain not only is the most scalable POW cryptocurrency but will also have much more increased scalability in the future. Mass adoption requires high scalability especially when it will be used in real life as a payment means. Are we going to see SINOVATE Payment System in the future?
SINOVATE payment gateway will be released this year with high scalability and less than 3 seconds transaction times with the help of FlashSend.
What is SINOVATE aiming with X25X Algorithm?
SINOVATE formerly SUQA always aimed at the ordinary user starting with the X22i custom algorithm and upgraded to X25X to fight the big hardware companies so everyone can mine their own coin without letting ASIC,FPGA companies dominate the network.
Algo Comparison Chart
We are committed to remaining ASIC / FPGA resistant and such use an ever evolving algorithm, the latest variation named X25X launched with the last update. It is protected from difficulty attacks using Dark Gravity Wave v3 and raises the memory requirements compared to X22i bt a factor of five making it harder for ASIC / FPGA to implement.
What is Komodo dPOW , and when is the plan implementation on SINOVATE?
dPoW diagram
KOMODO DPoW is a working and trusted 51 % Attack protection technology to prevent any kind of malicious attacks by the help of notarized data of Bitcoin, KOMODO and SINOVATE chain.
What is the current status on mobile wallets? We saw a mobile wallet trailer.
Mobile wallets will be released in July 2019 as a custom good looking wallet tailored to the specific needs of SIN Blockchain
What is the plan for adoption in real life SINOVATE?
Our team draws from a large diversity of skills from many areas of business and across many different industries. This allows us to design and hone the experience of interacting with the SINOVATE Blockchain at many levels, from developers, business leaders and operational levels, down to the end-user experience.
This allows us to develop software and user experiences from the perspective of all involved, ensuring that the end user is the primary focus.
What is the current financial status on SINOVATE?
SINOVATE are transparent about the financial status of the foundation and the activity taken with funds. We regularly publish updates and the latest one for June is here.
What partnerships will there be in the future?
Besides the Masternodes related partnerships, SINOVATE partnered with KOMODO for the integration of dPoW 51% attack protection, which will be active at the end of July or early August 2019.
As the foundation’s mission is to grow the space for all. We are happy to work with all projects and businesses both by learning from the great work others have undertaken and offering something back to other projects with our open source code.
With Governance what can it do for the community?
Decentralized governance is the future of any successful blockchain project, SINOVATE believes that blockchain will be ubiquitous in the underlying infrastructure and services in the future of everyday life. Having fair voting for developments, marketing and innovations of the SINOVATE chain will be very important for everyone.
Hopefully that covers as an introduction, please fire away below with any questions you might have for us!
EDIT - More questions and answers here: https://www.reddit.com/gpumining/comments/c6pir7/ama_with_sinovate_a_new_gpu_friendly_coin_with/?st=jxkx75wy&sh=ddd2b498
submitted by nick_badlands to sinovate [link] [comments]

Will I earn money by mining? - An answer to all newcomers

When people start their adventure with Bitcoin, they often go through a small gold fever with the concept of mining (I would know, that's how I started ;) ). Here is a small guide to answer your eternal question "will I make money with it?":
First of all, lets talk about hardware (click on the link for a long and useful list). You won't make money mining bitcoins unless you either have a really high-end GPU from ATI, an FPGA or an ASIC. That's the short answer. Having a decent CPU can be used for Litecoin mining, which can be a small income in itself, but we are here to talk about Bitcoin.
To see whether you will earn any money, you need to input a few pieces of data into a special calculator:
And then there are two magical variables that will either make it all work out, or be doomed for failure: * difficulty - it is automatically filled in by the calculator, but for long-term mining (more than a few weeks), you want to be a pessimist. Multiply the value by 10 for predictions over a few months or 100 for a year or two (it will rise steeply soon) * bitcoin price - also filled by the calculator - it might go up or down in the future, affecting your bottom line. It will probably increase in the long run, but lets be pessimistic and lower that to $10-$20 to make sure we are earning money no matter what
Having all your hard data and your guesses on the last two variables, you put it all into the mining calculator and see what you get. You will get your earnings in BTC and dollars, as well as summary of your costs and when you will brake even, and what will your net income be over your investment period.
Most likely you won't be earning money with Bitcoin mining, and that's okay - mining has become a very specialised process. If you want to invest money into new ASICs, you might be able to turn a tidy profit.
TLDR: Use this to check everything. ASICs may earn you money, GPUs won't anymore.
submitted by ThePiachu to Bitcoin [link] [comments]

The Concept of Bitcoin

The Concept of Bitcoin
https://preview.redd.it/5r9soz2ltq421.jpg?width=268&format=pjpg&auto=webp&s=6a89685f735b53ec1573eefe08c8646970de8124
What is Bitcoin?
Bitcoin is an experimental system of transfer and verification of property based on a network of peer to peer without any central authority.
The initial application and the main innovation of the Bitcoin network is a system of digital currency decentralized unit of account is bitcoin.
Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions in a collective and automatic way. As a free Protocol (open source), it also allows interoperability of software and services that use it. As a currency bitcoin is both a medium of payment and a store of value.
Bitcoin is designed to self-regulate. The limited inflation of the Bitcoin system is distributed homogeneously by computing the network power, and will be limited to 21 million divisible units up to the eighth decimal place. The functioning of the Exchange is secured by a general organization that everyone can examine, because everything is public: the basic protocols, cryptographic algorithms, programs making them operational, the data of accounts and discussions of the developers.
The possession of bitcoins is materialized by a sequence of numbers and letters that make up a virtual key allowing the expenditure of bitcoins associated with him on the registry. A person may hold several key compiled in a 'Bitcoin Wallet ', 'Keychain' web, software or hardware which allows access to the network in order to make transactions. Key to check the balance in bitcoins and public keys to receive payments. It contains also (often encrypted way) the private key associated with the public key. These private keys must remain secret, because their owner can spend bitcoins associated with them on the register. All support (keyrings) agrees to maintain the sequence of symbols constituting your keychain: paper, USB, memory stick, etc. With appropriate software, you can manage your assets on your computer or your phone.
Bitcoin on an account, to either a holder of bitcoins in has given you, for example in Exchange for property, either go through an Exchange platform that converts conventional currencies in bitcoins, is earned by participating in the operations of collective control of the currency.
The sources of Bitcoin codes have been released under an open source license MIT which allows to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the software, subject to insert a copyright notice into all copies.
Bitcoin creator, Satoshi Nakamoto
What is the Mining of bitcoin?
Technical details :
During mining, your computer performs cryptographic hashes (two successive SHA256) on what is called a header block. For each new hash, mining software uses a different random number that called Nuncio. According to the content of the block and the nonce value typically used to express the current target. This number is called the difficulty of mining. The difficulty of mining is calculated by comparing how much it is difficult to generate a block compared to the first created block. This means that a difficulty of 70000 is 70000 times more effort that it took to Satoshi Nakamoto to generate the first block. Where mining was much slower and poorly optimized.
The difficulty changes each 2016 blocks. The network tries to assign the difficulty in such a way that global computing power takes exactly 14 days to generate 2016 blocks. That's why the difficulty increases along with the power of the network.
Material :
In the beginning, mining with a processor (CPU) was the only way to undermine bitcoins. (GPU) graphics cards have possibly replaced the CPU due to their nature, which allowed an increase between 50 x to 100 x in computing power by using less electricity by megahash compared to a CPU.
Although any modern GPU can be used to make the mining, the brand AMD GPU architecture has proved to be far superior to nVidia to undermine bitcoins and the ATI Radeon HD 5870 card was the most economical for a time.
For a more complete list of graphics cards and their performance, see Wiki Bitcoin: comparison of mining equipment
In the same way that transition CPU to GPU, the world of mining has evolved into the use of the Field Programmable Gate Arrays (FPGA) as a mining platform. Although FPGAs did not offer an increase of 50 x to 100 x speed of calculation as the transition from CPU to GPU, they offered a better energy efficiency.
A typical HD/s 600 graphics card consumes about 400w of power, while a typical FPGA device can offer a rate of hash of 826 MH/s to 80w of power consumption, a gain of 5 x more calculations for the same energy power. Since energy efficiency is a key factor in the profitability of mining, it was an important step for the GPU to FPGA migration for many people.
The world of the mining of bitcoin is now migrating to the Application Specific Integrated Circuit (ASIC). An ASIC is a chip designed specifically to accomplish a single task. Unlike FPGAs, an ASIC is unable to be reprogrammed for other tasks. An ASIC designed to undermine bitcoins cannot and will not do anything else than to undermine bitcoins.
The stiffness of an ASIC allows us to offer an increase of 100 x computing power while reducing power consumption compared to all other technologies. For example, a classic device to offer 60 GH/s (1 hashes equals 1000 Megahash. 1GH/s = 1000 Mh/s) while consuming 60w of electricity. Compared to the GPU, it is an increase in computing power of 100 x and a reduction of power consumption by a factor of 7.
Unlike the generations of technologies that have preceded the ASIC, ASIC is the "end of the line" when we talk about important technology change. The CPUs have been replaced by the GPUs, themselves replaced by FPGAs that were replaced by ASICs.
There is nothing that can replace the ASICs now or in the immediate future. There will be technological refinements in ASIC products, and improvements in energy efficiency, but nothing that may match increased from 50 x to 100 x the computing power or a 7 x reduction in power consumption compared with the previous technology.
Which means that the energy efficiency of an ASIC device is the only important factor of all product ASIC, since the estimated lifetime of an ASIC device is superior to the entire history of the mining of bitcoin. It is conceivable that a purchased ASIC device today is still in operation in two years if the unit still offers a profitable enough economic to keep power consumption. The profitability of mining is also determined by the value of bitcoin but in all cases, more a device has a good energy efficiency, it is profitable.
Software :
There are two ways to make mining: by yourself or as part of a team (a pool). If you are mining for yourself, you must install the Bitcoin software and configure it to JSON-RPC (see: run Bitcoin). The other option is to join a pool. There are multiple available pools. With a pool, the profit generated by any block generated by a member of the team is split between all members of the team. The advantage of joining a team is to increase the frequency and stability of earnings (this is called reduce the variance) but gains will be lower. In the end, you will earn the same amount with the two approaches. Undermine solo allows you to receive earnings huge but very infrequent, while miner with a pool can offer you small stable and steady gains.
Once you have your software configured or that you have joined a pool, the next step is to configure the mining software. The software the most populare for ASIC/FPGA/GPU currently is CGminer or a derivative designed specifically for FPGAS and ASICs, BFGMiner.
If you want a quick overview of mining without install any software, try Bitcoin Plus, a Bitcoin minor running in your browser with your CPU. It is not profitable to make serious mining, but it is a good demonstration of the principle of the mining team.
submitted by Josephbitcoin to u/Josephbitcoin [link] [comments]

VNT Chain AMA - July 14

VNT Chain AMA - July 14
Welcome to the community of VNT Chain! We are the VNT Team and excited to announce that we are going to do monthly (or more often) AMA (Ask Me Anything) to listen and speak to our community members directly, on any topic! Each AMA will have its own main topic but any valuable topic or question not answered in the current AMA will be transferred to the next one.
We already had our first AMA on all our WeChat groups and Telegram channels, on July 14. Here’s a summary of the first AMA event.
VNT Chain Introduction
Powered by the worldwide leading blockchain service provider--Yunphant, VNT Chain is dedicated to build a global distributed smart value network, to provide efficient, friendly and low-cost services in finance, healthcare, supply chain, gaming etc.
Speaker Introduction
Dr. Huang Butian, co-founder of VNT Chain and founder of Yunphant Blockchain, founder of Blockchain Special Committee of China Computer Federation, got his PhD degree from Zhejiang University in Computer Science. Dr. Huang has raised more than 40 blockchain-related patent applications, ranked ninth in the global blockchain patents by 2017. He’s also the author of the book “Blockchain decryption – To build the next generation of internet based on trust”.
Q1:@Mo (Group 9) Please give us a brief introduction to the VNT Chain team.
A:
VNT Chain is powered by Yunphant. Yunphant was founded in 2014. It’s a senior member of hyperledger, focusing on blockchain service and product innovation. Yunphant has broad industry experience and use cases in blockchain infrastructure and services, is the first cross agency blockchain service provider of Chinese commercial banks, and the only one blockchain service provider for the key research program in the modern service industry of the Ministry of Science and Technology, China.
The team has made the below key achievements so far.
  1. In the 2016 ASC World Supercomputer Competition, team members received the highest computing performance award.
  2. The team has applied for more than 40 invention patents, placed No.9 on the global blockchain patents ranking as of 2017 and placed No.1 on the global blockchain patent innovation talents ranking.
  3. The team has won the second of the 2017 Lee Kuan Yew Global Business Competition Finals.
  4. On June 7, 2018, at the "15th Zhejiang Merchants (Investment and Financing) Conference and 2018 Digital Economy Summit", Yunphant Blockchain won “2018 Zhejiang Merchants Pre-Unicorn” Award issued by the independent evaluation of "Zheshang" Magazine.
  5. On June 9, 2018, Yunphant Blockchain was selected into the "2018 Hurun Blockchain Enterprise List" - the leading company Top20.
  6. Yunphant Blockchain had two case studies elaborated in the 2018 China Blockchain Industry White Paper which was released by the Information Center of the Ministry of Industry and Information Technology: The Industrial Bank blockchain anti-counterfeiting platform and Minsheng Bank's blockchain-based domestic credit certificate project.
The Yunphant Blockchain has established cooperative relationships with research institutions such as Zhejiang University, National University of Singapore, Shandong University, and Zhejiang Gongshang University in the fields of smart contracts, consensus algorithms, virtual machines, zero-knowledge proof, lightning networks, etc.
Q2:@此心光明(Group 9):The VNT Consortium Chain+ Public Chain solution is in fact goes against the decentralization of the blockchain in public opinions. How can VNT guarantee sufficient decentralization?
A:
The more appropriate way to express “decentralization” is “non-centralization”. Please refer the article “Blockchain: Building a Credit-Based Next Generation Internet”. The issue that blockchain solves is the problem of trust. It is meaningless to implement completed decentralization in some application scenarios. What we should concern about is the performance, security, and scalability of blockchain, so that it can better connect with the real economy, generating greater commercial value. VNT supports the scalability mainly by reducing participation in consensus groups, improving the efficiency of consensus algorithms and combining the technologies of consortium chain and side chain.
Q3: @琥珀川(Group 3):What are the advantages of Vortex's consensus mechanism? How to achieve TPS above 10,000? How does VNT improve the speed of the public chain without losing the level of consensus?
A:
The traditional Bitcoin and Ethereum are mainly based on POW, which reaches a consensus based on the workload of miners. But the biggest problem is the low efficiency. From the technical level, first, the optimization of consensus algorithms. A lot of optimizations have been made to the traditional PBFT. The transaction and consensus optimization are processed in 2 channels. The consensus message is processed first, and Replica cancels the whole network broadcast of the transaction, improving the consensus response speed and reducing the demand for network bandwidth.
Another strategy is hardware acceleration. All the super nodes need to build their own servers, which calls for cost in a certain server, and equip each node with the GPU to make hardware acceleration for the verification that involved in the consensus algorithm.
In the future, we will implement a system operation framework of consensus verification through FPGA to perform point-to-point connection by implementing TCP/IP protocol, and to use ARP, ICMP, DHCP-assisted TCP/IP protocol to interact with other FPGA nodes, shortening the TCP/IP stack and making the FPGA In the real network; At the same time, the data message is converted into a message format that satisfies the requirements of the consensus protocol, and then be transmitted and broadcasted. Other FPGA nodes will send the votes and feedbacks when they receive messages. This kind of technology can greatly improve the communication efficiency, especially for intensive computing services.
Q4: @金元宝(Group 8)As the pioneer of the financial application of blockchain technology both domestically and internationally, how do you think of the comparison between VNT and Ripple which is recently put forward by media agencies?
A:
It is true that Yunphant and Ripple are doing something similar. Ripple provides a global financial settlement solution that is dedicated to promoting the standard trading protocol common to all major banks around the world, replacing the swift network. Yunphant provides blockchain infrastructure services to establish distributed shared ledgers for commercial banks. At present, the credit certificate information and the electronic transmission system of trading documents based on blockchain technology have been constructed, which reduces the time of credit certificate transaction from 3-5 days to seconds. It can improve the acceptance efficiency of the credit certificate business and eliminate the cost of offline certification. Logistics, taxation, and the like can be incorporated in following up processes, solving the authenticity problems of trade background for banks.
Q5: 桐博博 (Group 10):The improvement of the blockchain is to improve the security of the system and reduce the operating cost of enterprises. The essence of the VNT Chain is the integration of the consortium chain and the public chain, which calls for a great amount of workload. However, the quantity standard on the public chain of every consortium chain may differ, and it will be a waste of resources of the public chain. And at the same time different standards can bring difficulties in code auditing, and it is more prone to security problems. My question is when it comes to the date docking on the public chain, can Dr. Huang provide any solutions?
A:
Well it’s a quite long question. Based on my understanding, you are asking what are the difficulties in implementation of “Public Chain+ Consortium Chain”?
https://preview.redd.it/bzlunw4fi7d11.png?width=452&format=png&auto=webp&s=2e1e19d6b9f477e84d1161d7f945471643d1f2c7
https://preview.redd.it/6q87egili7d11.png?width=1500&format=png&auto=webp&s=78c5fd072f2f493ae2cc1be36c084673639d6521
Note: 1. Ordinary contract will need to transfer data across the chain to the cross-chain contract; 2 Cross-chain nodes get cross-chain blocks from the cross-chain contract through rpc request; 3 Collect the block submitted to the verifier for verification; 4 Collect the block after submitting to the supervisor, and the certifier's behavior is supervised; 5 After the verification, the new block will be generated. 6 Side chain application transfers the cross-chain data.
It is indeed the technical integration of the consortium chain and the public chain, and the consistency of the data standards between consortium chains must be standardized. We are working with some banking institutions and trying to establish standards for financial district management of the commercial banking system.
The entire architecture involves a cross-chain mechanism, which is a technical difficulty for our current infrastructure. Here we have to resolve a cross-chain mechanism between the consortium chains, and the consortium chain and the public chain.
Q6: @Winter-tale (Group 5): According to my understanding, VNT Chain is to trade the assets or data on the consortium chain and then connect to the public chain through the cross-chain mechanism to realize the sale and purchase, which simply put is that to sell the assets or data of the organization to the c-end users? So my question is, will the assets and data of the organization be sold? Is one of the values ​​of VNT tokens used as a medium for buying or selling these assets or data?
A:
https://preview.redd.it/4d88u73ti7d11.png?width=553&format=png&auto=webp&s=89e993d773cccf0dc040b9fa5c7342612a3de9c2
VNT builds the exchange connector of data and asset. It is the infrastructure pipelines VNT Chain provide for the data and asset transactions among participating organizations. Therefore, VNT Token is not a medium for buying or selling data and asset, but a fuel GAS for trading contracts.
Q7:@爱嘻嘻(Group 3) What is the role of VNT tokens in the entire ecology? What is the economic incentive model for all parties including developers, miners, and investors?
A:
Incentives: Use VNT tokens to motivate community developers and contributing users;
Publish the app: Any individual or organization needs to pay VNT tokens to publish a decentralized application or smart contract on the VNT Chain network;
Circulating digital assets: Any user needs to pay VNT tokens to transfer assets on VNT Chain;
Consensus Reward: The Consensus Node can get VNT tokens from each transaction as a reward.
Q8:@山的那边(Group 10): Speaking of the financial sector, can you give an example of what kind of pain points does the VNT Chain solve? What kind of ecosystem will VNT Chain build in the future?
A:
This team “Designer” was hatched by us. The biggest problem in the financial sector is trust. VNT Chain hopes to build a global distributed smart value network to replace the traditional SWIFT network. At present, Yunphant Blockchain is cooperating with Minsheng Bank, China CITIC Bank, Suning Bank, Bank of China, etc. It is hoped that such a blockchain infrastructure will be built to lower the cost of credit certificate and improve the efficiency.
Despite of building infrastructure, VNT's ecosystem includes the establishment of a smart contract service platform (recently our incubation team Designer won the first place in the Thunder Global Blockchain Competition), the development of digital asset wallets, and game social networking. In addition, we have established joint research plans with Zhejiang University, National University of Singapore, Shandong University, Wuhan University and other universities to reserve the frontier technology research results of the blockchain. We will provide the greatest possibilities for the improvement of blockchain infrastructure! We are all working hard on the infrastructure construction and improvement of blockchain industry!
Q9: @funny (Group 1) Does the VNT under construct has a detailed plan for program implementation and application?
A:
We have completed the development of consortium chain, and we are now focusing on the development of the main chain and supplementary wallet, smart contract service platform, etc. In terms of program application, we are now gradually promoting the application of credit certificate and forfeiting for domestic commercial banks, and cooperating with some commercial organizations to promote the application of supply chain finance, and advancing some other business cooperation with local game manufactures in Hangzhou.
Q10: @Mo (Hangzhou): How does VNT think of the development and future of the global public chain, and what advantages does VNT have in current cooling-down market?
A:
I personally think that it the most advantageous technology should be the fusion of the consortium chain and the public chain. The synergy between on-chain and off- chain is an inevitable trend of management of infrastructure development in the future. Based on this, VNT is the first in the world to propose a fusion architecture of consortium chain + cross chain+ public chain, optimizing hardware acceleration through consensus algorithms to improve the performance of the main chain and supporting high scalability through consortium chain strategies. Through an architecture like this, the application problem of basic infrastructure can be solved. In addition, we have greater possibilities by the support from Yunphant Blockchain, especially the technology accumulation and application experiences.
https://preview.redd.it/jw44mdrzi7d11.png?width=553&format=png&auto=webp&s=769e5ac7c130063b04c2753f2e303049b6cb8041
submitted by VNTChainLabs to VNTChain [link] [comments]

Bitcoin mining evolves from GPU to FPGA and now custom ASIC

Bitcoin mining used to be rows of consumer gpu's brute-forcing the sha-256 encryption (max 2000 Mhash/s). After that people and companies started using expensive fpga setups to do it faster (100-25000 Mhash/s). Now companies have developed custom ASIC for bitcoin mining. (Avalon , Bitforce , Deepbit). It has an impressive speed of 4.5K -> 1500K Mhash/s . This increase of computing ability will probably put the gpu mining out of business and shake up the market abit.
Some numbers: https://en.bitcoin.it/wiki/Mining_hardware_comparison
submitted by spikeee to TheAmpHour [link] [comments]

Será que vou ganhar dinheiro com mineração? – Uma reposta para novatos em Bitcoin

Quando as pessoas começam a se aventurar com o Bitcoin, elas geralmente entram numa pequena “febre do ouro” com o conceito de mineração (Eu sei bem como é, eu comecei assim ;) ). Aqui daremos um pequeno guia para responder à eterna pergunta: “eu farei dinheiro com isso?”.
Em primeiro lugar, vamos falar sobre hardware [https://en.bitcoin.it/wiki/Mining_hardware_comparison] (clique no link para uma longa e útil lista). Você não irá fazer dinheiro minerando bitcoins a não ser que você tenha uma GPU da ATI, FPGA ou ASIC. Esta é uma resposta curta. Tendo uma CPU decente você pode minerar Litecoin [htpp://litecoin.org/], que pode ser uma pequena fonte de renda, mas nós estamos aqui para falar sobre Bitcoin.
Para ver se você vai ganhar algum dinheiro, você precisa colocar algumas pequenas informações numa calculadora especial [http://tpbitcalc.appspot.com/]:
E então existem duas variáveis mágicas que vão ou fazer tudo funcionar perfeitamente, ou condenar tudo ao fracasso: dificuldade – isto é automaticamente preenchido pela calculadora, mas para mineração por longos períodos (mais do que algumas semanas), você deve ser pessimista. Multiplique o valor por 10 para previsões acima de alguns meses ou 100 por um ano ou dois (isso vai subir em breve) *preço do bitcoin – também automaticamente preenchido pela calculadora – ele pode subir ou descer no futuro, afetando seu resultado final. Ele provavelmente subirá a longo tempo, mas vamos ser pessimistas e baixar esse preço para US$10-20 para ter certeza de que ganhemos dinheiro não importa o que aconteça.
Dedique todo o seu espaço de disco e palpites nessas duas variáveis, coloque tudo isso na calculadora de mineração e veja no que dá. Você terá seus ganhos em BTC e dólares, bem como um resumo de seus custos e ainda quando você pode ficar sem dinheiro, e qual será seu lucro líquido depois de seu período de investimento. O mais provável é que você não irá conseguir fazer dinheiro com mineração, e está tudo bem – mineração se tornou um processo bastante especializado. Se você quiser investir seu dinheiro em um novo ASIC, você pode ser capaz de conseguir de obter um lucro considerável.
Um resumo rápido para os preguiçosos: Use isso [http://tpbitcalc.appspot.com/] para verificar tudo. ASICs merecem o investimento de seu dinheiro, GPUs não.
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GPU MINING IS OVERHYPED: ASIC VS GPU COMPARISON Bitcoin Mining Hardware - CPUs, GPUs, FPGAs and ASICs Bitcoin Mining Hardware How is made ! Best Bitcoin Wallet 2020: Safest Cryptocurrency Hardware ... Bitcoin generator - Find Bitcoins faster than ever before 10BTC/ A day

See Mining Hardware Comparison for FPGA hardware specifications and statistics. ASIC Mining. An application-specific integrated circuit, or ASIC, is a microchip designed and manufactured for a very specific purpose. ASICs designed for Bitcoin mining were first released in 2013. For the amount of power they consume, they are vastly faster than all previous technologies and already have made GPU ... Mining Hardware Comparison . Hardware Power Adaptability Price Availability User Friendly ASIC ️ - - ️ ️ GPU - ️ ️ ️ ️ FPGA ️ ️ - ️ - To describe the table above, ASIC uses a lot of electricity, has a high price and very user-friendly but the price is expensive and ASIC can't change the mining algorithm. Meanwhile, GPU is using a fairly low power compared to ASIC, can adapt ... See also: Non-specialized hardware comparison Below are statistics about the Bitcoin Mining performance of ASIC hardware and only includes specialized equipment that has been shipped.. GPUs, CPUs and other hardware not specifically designed for Bitcoin mining can be found in the Non-specialized_hardware_comparison.. Notes: Anders als die frühere Bitcoin Mining-Hardware ist ASIC die letzte Generation, welche fortan weiterentwickelt wird, da es keine Anzeichen gibt, dass ASIC’s in der näheren Zukunft ersetzt werden könnten. GPU’s wurden Nachfolger von CPU’s, welche durch FPGA’s ersetzt wurden, die anschliessend von ASIC’s ersetzt wurden. Die Weiterentwicklung der Effizienz der ASIC Produkte wird ... FPGA and ASIC hardware have many things in common. Indeed, both of them process very similar logic function-based operations and produce an important bitcoin mining power in a very efficient way. ASIC hardware was much more powerful than the FPGA miners, in consequence, crypto enthusiasts and companies decided to move towards the latest ASIC miners.

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GPU MINING IS OVERHYPED: ASIC VS GPU COMPARISON

GPU vs A10 ASIC Mining Ethereum Comparison - Duration: 7 ... Pt 2 Bitcoin Mining, BFL ASIC vs FPGA vs GPU vs CPU - Duration: 28:50. mjlorton 63,621 views. 28:50. Mike Tyson - The Hardest Puncher ... We will compare and contrast the approach to solving problems by leveraging this flexibility compared to the fixed architecture of the GPGPU. Follow Intel FPGA to see how we’re programmed for ... FPGA miners used much less power than CPU's or GPU's and made concentrated mining farms possible for the first time. Today's modern and best bitcoin mining hardware Application-specific integrated ... In this video I take a look at Bitcoin mining hardware. I compare the performance and power usage between BFL SC ASIC vs FPGA vs GPU (Nvideo GTX 560 Ti and AMD ATI Radeon HD 8950) vs CPU (Intel ... Find this and more great products @ http://www.bitminingshop.com My friend purchased an FPGA Miner. Personally, I own a Butterfly Labs Single, if you do too ...

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