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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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How Cryptocurrencies Will Change Online Gambling in the Future

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online gambling
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Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

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VOLUM (VLM) Announces Commencement of Token Generation Event

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ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

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How to Secure Yourself in Relation to Bitcoin: Top VPN Services

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Bitcoin
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Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

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