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Digibyte’s upcoming hard fork this summer and how your GPU mining rig will benefit

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About two months ago, the Monero community was vexed in a war of words with Bitmain over the release of the Cryptonight –capable Antminer X3. The Antminer X3 had been designed to mine altcoins that use the Cryptonight hashing algorithm with Monero as the main mining target. As usual Bitmain (world’s biggest manufacturer of ASIC mining hardware) happily announced its release. However, in response, the Monero Blockchain was forked to maintain its ASIC resistance rendering all the new Atminer X3 obsolete.

The ongoing mining battles

Basically, there has always been a fight for control in the crypto mining world. Mining equipment manufacturers like Bitmain are currently able to control the crypto landscape as they wish since they equally control who gets what mining equipment, when and at what cost. The general feeling has been that the rich get richer while amassing more control over the Blockchains as eventual centralization of the networks is realized.

Considering the engineering cost of coming up with an ASIC miner, and the fact that ASIC miners are more powerful that GPU and CPU miners (that mostly belong to hobbyist), companies like Bitmain are able to niche down the manufacturing of ASIC miners and even set up their own mining operations with equipment at low production cost. It is this unfair advantage that leads to an uproar whenever a new ASIC mining machine is introduced into the market. To gain back control over the mining of a particular Blockchain, developers of Blockchains such as Monero decide to fork their networks and change the mining algorithms with every release of a new ASIC miner. Although it’s a short-term solution, it has so far worked for Monero.

Is Bitcoin decentralized enough?

Bitcoin, on the other hand, has had to deal with this issue since its inception. A cartel of miners has managed to actively sabotage the network’s decentralization with more powerful ASIC miners that give a group of individuals more control over the network. Obviously, Satoshi Nakamoto was unable to foresee this problem at the beginning. In fact, as the first ever Blockchain application, Bitcoin was designed to be mined only by CPUs so as to give each CPU a voice over the voting and decision made on the Blockchain. For Bitcoin, this capacity is long gone given the level of difficulty the network has reached.

How Digibyte’s upcoming hard fork will solve the problem

This is why Blockchains like Digibyte are planning to soon hard fork their Blockchain so as to change some of their mining algorithms in favor of GPUs. This is not only good news to those who own home mining rigs and are looking to mine DGB but also music to the ears of DGB holders as the network will maintain its decentralization.

As one of the fastest up and coming Blockchains, Digibyte boasts of having one of the most robust yet easy mining protocols in the crypto space. In fact, the Digibyte foundation came out strongly to protect the reputation of the Digibyte’s Blockchain network security after an altcoin’s 51% attack led to concerns over the security of altcoins. Currently, you can mine DGB with multiple mining algorithms, making it one of the most decentralized and secure Blockchain networks there is.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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