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Everything You Should Know about Cryptocurrency Mining https://e-cryptonews.com/everything-you-should-know-about-crypptocurrency-mining/
<p>Over the past few months, crypto market capitalization has multiplied and the prices of many cryptocurrencies have reached new highs. As a result, more and more people started considering mining as an option to benefit from this rally.</p>
<p>This hype has already caused a <a href=”https://www.popsci.com/story/technology/nvidia-crypto-graphics-cards/” target=”_blank” rel=”nofollow noopener”>shortage of video cards</a> in many countries. Miners even buy laptops in batches to start making money on cryptocurrency.</p>
<p>But what is mining and what is needed for it? Only video cards or laptops? Let’s try to figure this out.</p>
<h2><span id=”Understanding_Mining”>Understanding Mining</span></h2>
<p>Simply put, mining is a process where a machine performs certain tasks to receive cryptocurrency as a reward for its work. This mining concept is also known as the Proof of Work algorithm.</p>
<p>But what are these tasks? Basically, it is solving mathematical equations and scenarios. The miner’s equipment is trying to solve a math problem and find an answer that must be in a certain range.</p>
<p>If the miner finds the answer, then a new block will be created and added to the blockchain.</p>
<p>A reward for finding a block is a small amount of newly created coins and fees for transactions that the miner decided to add to their block. Then the process is repeated — miners start looking for a new block and add new transactions.</p>
<p><img class=”size-full wp-image-14541 aligncenter” data-src=”https://e-cryptonews.com/wp-content/uploads/2019/08/blockstream-mining-a-grassroots-vision-for-redistributing-hashrate.jpg” alt=”Cryptocurrency Mining” width=”600″ height=”315″></p>
<p>There is high competition between miners. The more computing power a miner has, the more chances that their hardware will be able to find the necessary solution and receive a reward.</p>
<p>For the same purpose, a lot of miners are united in so-called pools. In mining pools, the reward is distributed among all participants, depending on their contribution to the process of solving the problem.</p>
<p>Not all coins are available for mining, as not all use the Proof of Work algorithm for consensus. Coins that support mining may have different hashing algorithms and mining difficulty.</p>
<p>Therefore, it is necessary to select the appropriate equipment for the efficient mining of a certain coin.</p>
<h2><span id=”What_are_the_Mining_Methods”>What are the Mining Methods?</span></h2>
<p>There are several main mining methods — CPU, GPU, ASIC, and cloud mining. Briefly about each of them.</p>
<p>CPU mining involves using PC processors. In the early days of crypto, this was a fairly popular mining method, but now it has practically outlived itself due to its extremely low efficiency. The CPU method <a href=”https://en.bitcoinwiki.org/wiki/Why_a_GPU_mines_faster_than_a_CPU” target=”_blank” rel=”nofollow noopener”>has been replaced </a>by GPU mining.</p>
<p>Miners predominantly use GPU for mining because of its efficiency in the context of hash speed and rig price. Most often, GPU miners use several video cards for mining at once and create so-called mining farms.</p>
<p>ASIC is a piece of hardware that is specifically designed for crypto mining. ASICs are much more efficient than GPUs and CPUs, but they are also the most expensive.</p>
<p>There is some negative attitude towards ASIC miners in networks dominated by GPU miners because ASICs can introduce an imbalance in the network.</p>
<p>That is why some coins cannot be mined with ASICs. At the same time, ASIC is the only effective option in networks where there are an extremely high mining difficulty and hash rate, for example, in the bitcoin network.</p>
<p>All the above-mentioned mining methods imply that miners will buy and deploy mining equipment on their own. But there is a way that allows miners to borrow computing power — cloud mining. With cloud mining, miners rent equipment for a certain period and pay another company for it.</p>
<p>All mining earnings (minus the electricity and maintenance costs) are credited to the miner’s wallet.</p>
<p>Cloud mining can be suitable for those who do not want to dive into the hardware-related part of mining and want to use ready-made equipment. However, it is important to double-check how reliable the cloud mining company is.</p>
<h2><span id=”What_do_you_Need_to_Start_Mining”>What do you Need to Start Mining?</span></h2>
<p>First of all, you need to decide what mining equipment to use. It must be prepared in advance by installing the necessary mining software for a specific coin. In addition, the software helps miners track important parameters such as hardware</p>
<p>hashrate, temperature, fan speed, average hashrate in the particular cryptocurrency network, etc.</p>
<p>Also, miners have to select the cryptocurrency wallet for receiving mining rewards. If you need to exchange the mined coins for another cryptocurrency or fiat, for example, <a href=”https://cex.io/ltc-btc” target=”_blank” rel=”nofollow noopener”>convert LTC to BTC,</a> then you should also think about searching for a crypto exchange.</p>
<p>If you are not going to mine crypto on a large production scale, then it is worth considering joining a pool where miners receive a reward depending on their contribution. Otherwise, you will compete with other miners and pools alone, which may be ineffective in some cryptocurrency networks.</p>
<p>Besides, miners should take care of the space for storing mining rigs. Mining farm consumes a lot of electricity and can make a lot of heat and noise. Therefore, in the case of large farms, miners might need fans and other cooling equipment as well.</p>
<p><img class=”size-medium wp-image-3337 aligncenter” data-src=”https://e-cryptonews.com/wp-content/uploads/2018/11/chinese-school-principals-caught-mining-ethereum-at-work-640×442.jpg” alt=”Cryptocurrency Mining” width=”640″ height=”442″ srcset=”https://e-cryptonews.com/wp-content/uploads/2018/11/chinese-school-principals-caught-mining-ethereum-at-work-640×442.jpg 640w, https://e-cryptonews.com/wp-content/uploads/2018/11/chinese-school-principals-caught-mining-ethereum-at-work-1024×707.jpg 1024w, https://e-cryptonews.com/wp-content/uploads/2018/11/chinese-school-principals-caught-mining-ethereum-at-work-1280×883.jpg 1280w, https://e-cryptonews.com/wp-content/uploads/2018/11/chinese-school-principals-caught-mining-ethereum-at-work.jpg 1500w” sizes=”(max-width: 640px) 100vw, 640px”></p>
<p>And last but not least is knowledge. If you want to become a miner, you need to figure out how to set up the necessary equipment and calculate what coin to mine depending on the equipment and electricity costs.</p>
<p>Also, to stay an effective miner, it is important to constantly monitor cryptocurrency prices and mining difficulty to find the most optimal way for earning crypto.</p>
<p>Mining is a very flexible process where everyone can find a suitable path. The answer to the question of what to mine depends only on the miner’s ambitions and capabilities.</p>
<p>The cryptocurrency market is diverse enough for efficient mining both for small miners with a few video cards and large players with industrial capacities. The main thing is to study the issue in advance and assess your capabilities.</p>
<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p>
Sat, 20 Mar 2021 16:42:50 +0000 Brent Dixon
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cryptocurrency mining

Discussions.App talks about Decentralized Social Reputations https://e-cryptonews.com/discussions-app-decentralized-social-reputations/
<p>Social reputations are the next milestone in social media interactions. With the rise of <a href=”https://www.techrepublic.com/article/top-5-decentralized-social-networks/” target=”_blank” rel=”nofollow noopener”>decentralized social media platforms</a>, the inclusion of social reputations is inevitable.</p>
<p>Recently, decentralized social media platform discussions.app launched Aura its decentralized social reputations app.</p>
<p>E-Crypto News caught up with Jacques Xu, Co-Founder at Discussions.app.</p>
<p>Here is what he had to say.</p>

<p><a href=”https://e-cryptonews.com/wp-content/uploads/2021/03/jacquesxu-1.jpg”><img class=”aligncenter size-full wp-image-33393″ data-src=”https://e-cryptonews.com/wp-content/uploads/2021/03/jacquesxu-1.jpg” alt width=”500″ height=”500″ srcset=”https://e-cryptonews.com/wp-content/uploads/2021/03/jacquesxu-1.jpg 500w, https://e-cryptonews.com/wp-content/uploads/2021/03/jacquesxu-1-160×160.jpg 160w” sizes=”(max-width: 500px) 100vw, 500px”></a></p>

<p><strong>E-Crypto News:</strong></p>

<blockquote readability=”9″><p><b>&nbsp;</b><span>Thanks! The goal of Aura is to align the incentives between the developers and users, as such, we’ll be working with partners to integrate Aura into their projects and ensure users can have a seamless dapp experience.</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>What exactly is Aura?</strong></li>
<blockquote readability=”9″><p><span>Aura is a tokenization reputation system that rewards users based on a few different metrics, and together provides an overall picture of what the user is like, without having to disclose personal identifying information to developers.</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>How does Aura work?</strong></li>
<blockquote readability=”10″><p><b>&nbsp;</b><span>Aura is an open standard that provides a baseline decentralized reputation of users so that dapps can allocate resources appropriately and other users can determine with reasonable certainty how genuine a user is likely to be. </span></p>
<p><span>Dapps may choose to furnish users with independent AURA scores based on bespoke criteria or may decide to use the AURA score a user earned from another well-regarded application.&nbsp;</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>Are we seeing a shift from central reputation scoring to a decentralized basis? How will such a scenario work? Please give us a practical example.</strong></li>
<blockquote readability=”17″><p>&nbsp;<span>Yeah, for sure, reputation is a pretty abstract, fuzzy concept. While open source decentralized software comes with an expectation of transparency, the traditional approach has always been opaque to some degree. </span></p>
<p><span>From Credit ratings, advertising metrics, to SEO related rankings most of the time analysis involves a great deal of trust. AURA changes this with radical transparency of the underlying rules while allowing users to remain as anonymous as they wish.&nbsp;&nbsp;</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>What are your plans for Discussions.App in 2021? What steps are you taking to ensure the adoption of decentralized technologies?</strong></li>
<blockquote readability=”27″><p><span>It’s easier to get complacent once a project is somewhat stable, and grows steadily, which is where we are now. </span></p>
<p><span>But this is actually the most dangerous time period because we know for a fact that our competitors aren’t making incremental improvement. </span></p>
<p><span>That said, we’ve been going back to the basics and really digging deep and asking ourselves what we’ve learned about what the users want. </span></p>
<p><span>So we’ll be rolling out a site redesign that provides a cleaner more logical login flow, updated moderation controls and a focus on community building that solves the problems typical of subreddit/guilds and other content fracturing schemes which seem to always lead to moderation abuse. </span></p>
<p><span>The other focus that AURA helps move the needle on is getting content creators paid. </span></p>
<p><span>We have long been wary of systems where governance and payment are linked, and believe that empowering creators to monetize their presence online starts with preserving their agency within the process and keeping them firmly in control.</span></p></blockquote>

<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>How can social reputations improve interactions? What’s the drive behind social reputations?</strong></li>
<blockquote readability=”13″><p><span>There are two things we consider when building the AURA system. The first is how can we continue to offer our users unfettered access to the best of blockchain while scaling to meet the needs of millions of users. </span></p>
<p><span>AURA provides a mechanism for us to determine the level of resources a user is entitled to. The second consideration is from our users perspective.</span></p>
<p><span> When interacting within an aura enabled environment users can gauge how genuine other users are without having to know any personal details about those users.</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>How has your experience been with Telos? What are the best highlights of your relationship with the <a href=”https://telos.net/” target=”_blank” rel=”nofollow noopener”>Telos Blockchain</a>?</strong></li>
<blockquote readability=”14″><p><span>It’s been a joy. The Telos community is one that is full of positivity but also open, transparent and honest. </span></p>
<p><span>We’ve been able to tap into their worker proposal system to access additional funding that helped us accelerate our development. </span></p>
<p><span>The process also showed us just how active and engaged the Telos community is in the governance of their blockchain. A rarity and a critical asset in the long term viability of any decentralized community.</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><strong>What are your plans to increase the adoption of Discussions.App across the board?</strong></li>
<blockquote readability=”12.482587064677″><p><span>As <a href=”https://e-cryptonews.com/e-crypto-news-talks-to-jaques-xu-discussionsapp-decentralized-social-media-platforms/” target=”_blank” rel=”noopener”>Discussions grow</a>, we’ll start to focus on attracting an audience that is outside of crypto. </span></p>
<p><span>While crypto will be where our heart is, the main goal of the vast majority of the users want to socialize, and we’ll work to ensure the content and tools available on the platform will facilitate those social interactions without being hindered by any of the complex back end blockchain infrastructure.</span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<li aria-level=”1″><span><strong>Considering the recent positions of centralized social media platforms, what are the implications of the control of free speech on your platforms?</strong>&nbsp;</span></li>
<blockquote readability=”14″><p><span>We’re at a cross-road, and ensuring free expression and open exchange of ideas cannot be trusted to any one person or corporation, hoping they will ‘do the right thing.’ </span></p>
<p><span>The right thing is to make sure that this freedom is enshrined in code, and information is allowed to spread regardless of who the originators are. It is not our role to be censors, and it is not the role we’ll take. </span></p></blockquote>
<p><strong>E-Crypto News:</strong></p>
<p><strong>With the given considerations of free speech in mind, how would you govern Discussions.App to guard against illegal and criminal content?</strong></p>
<blockquote readability=”11″><p><b>&nbsp;</b><span>Illegal and criminal content as determined by US law will not be hosted by the discussions.app node.</span></p>
<p><span> As more nodes join the network, there will be other jurisdictions which will have different standards. The purpose of discussions.app is not to circumvent legal systems but to provide transparency around what is being censored and by whom.</span></p></blockquote>

<p><strong><a href=”https://blockads.fivefilters.org”></a></strong> <a href=”https://blockads.fivefilters.org/acceptable.html”>(Why?)</a></p> Fri, 19 Mar 2021 12:11:35 +0000 Christopher Hamman
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