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Bad News for Miners: Siacoin to Block Mining Hardware via Hard Fork - Global Coin Report
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Bad News for Miners: Siacoin to Block Mining Hardware via Hard Fork

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Siacoin
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In a recent development, the Sia blockchain network decided to release code for a hard fork which will prevent Siacoin miners from using mining rigs created by large mining manufacturers. As one representative of Sia stated, some mining hardware manufacturers, most notably Bitmain and Innosilicon, are viewed as bad actors that are harming the network.

Because of this, the founder and current CEO of Nebulous, David Vorick, announced that Siacoin would go through a hard fork on October 31st. According to him, users who wish to stay on Siacoin’s network will have to upgrade to a new code version 1.3.6 before the hard fork. Additionally, he mentioned that all large exchanges would participate.

Mining hardware producers are harming the Sia network

The decision to perform a hard fork came after a long debate within the Sia blockchain community. The discussion lasted for an entire year, and it was finally decided to enact a hard fork in October.

Due to the fact that Bitmain mined Siacoin for months in secret, and Innosilicon managed to mine around 50% of Siacoin hashrate to one single address, it was decided that only ASIC processors created by Obelisk will be able to mine Siacoin in the future.

In short, ASIC miners made by Innosilicon, Bitmain, and likely other mining hardware manufacturers will be blocked from the blockchain.

The Siacoin team still prefers ASIC-based mining to GPU-based mining, since a lot of GPU-based mining environments experienced 51% attacks in the past, while ASIC mining projects managed to avoid such incidents. At the same time, only mining equipment created by Obelisk will be allowed.

Is Siacoin heading towards mining centralization?

Obelisk is a known subsidiary of Nebulous, the firm behind Siacoin, which is why many have criticized the move, calling it nothing more than a way to protect the investment made in Obelisk. A large part of the crypto community believes that this will only create a monopoly on Siacoin mining and that it is another step toward mining centralization.

It should be noted that Siacoin is no stranger to hard forks, and it had several of them already. The change of algorithm previously led to two forks that separated from the network — Sia Prime and Sia Classic.

Additionally, back in July, Hyperspace also decided to separate itself from the network because of numerous disagreements concerning development.

They also posted a statement regarding the newly announced hard fork and said that Hyperspace has different views than Sia. This is why they forked in the first place, and that they will keep the blake2b hashing algorithm. Furthermore, as part of the same announcement, Hyperspace invited Bitmain and Innosilicon users to join Space Cash mining at any time.

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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.

Image courtesy of Lukasbieri/Pixabay

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Is it legal to gamble in Bitcoin casino?

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Bitcoin casino
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Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.

Key facts on Legality in Bitcoin casinos

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The necessity of Gambling License for Bitcoin casinos

In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.

There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…

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security of online transactions
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The use of the global network for e-commerce operations requires ensuring an adequate level of security for all financial transactions carried out online. Each payment system uses the most convenient methods based on its capabilities and technical specifications. However, this doesn’t mean that you should only trust the system without adhering to general safety rules. For example, using ExpressVPN vs NordVPN or performing e-commerce operations or online trading in private networks will be a very good idea.

Online Security as It Is

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Is Unification (UND) XRP 2.0? IEO April 10th at UTC+8 on Bitforex!

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Unification is a Hybrid blockchain solution for Enterprise. Above is my interview with CEO Neyma Jahan I explore what is Unification, how does a WRKchain actually work and why is this something people will quickly adopt. What is a really telling story here is that this is one of the few ICO/IEO/ITO etc… that actually is revenue positive which I honestly could not think of many others that were?

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