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There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
Greetings, community. 👋🏻 Today we will tell you what MultiShield is and what its features in PYRK are.submitted by VS_community to pyrk [link] [comments]
📌 What is MultiShield?
MultiShield is the advanced version of the original DigiShield. DigiShield was created specifically to protect the DigiByte project from the threat posed by multipools that inflated the price of cryptocurrency in case it was too easy to mine. It creates an asymmetric realtime difficulty adjustment, and is now even widely implemented in many other blockchain.
Mining complexity is configured separately for each algorithm, depending on the current power distribution. The complexity parameter is changed on each block. This mechanism is called MultiShield. The block generation time in the system is 15 seconds.
According to the developers, the MultiShield complexity adjustment mechanism guarantees a “fair twenty percent distribution between all five algorithms” and the detection of any “sudden influx” of computing power.
📌 What are MultiShield features in PYRK?
✅ PYRK platform uses the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining. PYRK has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier in order to maintain an approximate 90-second block timing.
✅ MultiShield adjusts after each block, rather than once every 2016 blocks (like in Bitcoin). MultiShield is designed to let the difficulty "fall" very fast, in order that the chain doesn't freeze.
✅ MultiShield was originally created to account for such wild fluctuations, so that the blockchain doesn't "freeze" when a large exodus of hash power occurs. It also means miners cannot flood a few consecutive blocks with a high amount of hash power and benefit from low difficulty, giving blocks near instantly one after another before traditional difficulty retargeting occurs.
Read more about PYRK solutions here: https://www.pyrk.org
submitted by energicrypto to energicryptocurrency [link] [comments]
Below you will find a Table of Contents that will cover all the fundamentals of the cryptocurrency.
Table of Contents
1. What is EnergiEnergi is a self-funding (no ICO and no premine) cryptocurrency that has a purpose to become the world’s leading cryptocurrency with the unification of Smart Contracts, Governance and Self-funding Treasury to ensure longevity and enable rapid growth. You can read more about why we decided to self-fund and chose not to conduct an ICO here.
Energi provides a small allocation to Proof-of-Stake (PoS) rewards, takes a bulk of the coin issuance and gives it to its treasury and active Masternodes. Energi also allocates 10% on-going reward to the leadership of the Energi Backbone, which is significantly less compared to today’s ICOs’ rewarding their founders between 20–50% of the tokens distributed. Another trait that sets Energi apart from ICOs is they give an on-going 10% allocation through each block reward, rather than rewarding the founders up-front.
2. What are the Fundamentals of Energi?
Energi features a powerful on-chain scaling solution with a system of incentivized full nodes called Energi Masternodes. A Masternode is a full node backed by 1,000 NRG collateral that provides level 2 scalability to the Energi Cryptocurrency. 40% of the emissions of Energi is allocated to Masternodes, providing an extremely strong incentive to grow the number of full nodes and scalability of the network.
Treasury allocation is decentralized, allowing for submitted proposals from anyone, to be voted on by Masternodes and paid out from the emissions.
Energi has a 14 day treasury cycle, allowing quick payments for proposal authors and contributors, as well as strategic responsiveness to effective proposals. Energi is guided by the principle that every dollar spent from its funding model should yield more than one dollar of value in return. Thanks to a 14 day treasury cycle, the Energi team is able to measure results and respond quickly to changes in strategy.
This governance model reduces risk by allowing participation from everyone who holds 1,000 NRG as a Masternode. In this way, the Energi community can work together on how to best build the strategic direction of Energi.
No coin supply limit ensures that Energi is prepared for the long term, avoiding “bubble” economics caused by dramatic early inflation that in most coins only serves to benefit founders ahead of increased adoption.
Energi Masternode payments were designed to begin at block 216000, which occurred on September 18, 2018, almost 160 days after launch. This ensured time to list Energi on exchanges, and to grow the community, encouraging fair and equitable distribution before the extremely powerful Masternode rewards began. It is all too common for Masternode coins to feature a premine, which has the effect of centralizing distribution among the founders and early adopters.
From 2018 to 2020, Energi distributed nearly 4 million coins to users who contributed to spreading awareness of the project with social media activities about Energi, such as tweets, follows, and subscriptions on all major social media platforms.
3. Coin SpecsTicker: NRG
Block time: 1 minute.
Hashing Algorithm: Dagger-Hashimoto (similar to Ethereum).
Masternode requirements: 1,000 Energi.
Treasury cycle: Every 14 days.
Approximately 1 million Energi will be released per month. The allocations can be observed easily as “10/10/40/40.”
10% will go to the Energi Backbone.
10% to the PoS participants
40% to Masternodes.
40% to the Treasury.
Thus, for every block, allocations are: 2.28 Energi to the Backbone, 2.28 Energi to the PoS participants, 9.14 Energi to the Treasury, and 9.14 Energi to Masternodes.
Since Treasury allocations are paid in two-week cycles, they are made in lump sums of approximately 184,000 Energi every 14 days.
In order to allow for widespread distribution of Energi before Masternode payments began, Masternode rewards were delayed until day 150. This was to allow the airdrop campaign to be completed and ensure a large amount of NRG is spread out through the community. Until that point, Masternode rewards were redirected to the Treasury. Thus for the first 5 months, the Treasury gained approximately 368,000 Energi every two weeks (about 800k Energi per month). The airdrop campaign was designed to release ~4 million Energi to the community.
4. How to Get Started
Publish 0x: https://www.publish0x.com/@energi
Telegram Announcement: https://t.me/energiannouncements
KuCoin - BTC: https://www.kucoin.com/trade/NRG-BTC
KuCoin - ETH: https://www.kucoin.com/trade/NRG-ETH
HitBTC - BTC: https://hitbtc.com/NRG-to-BTC
BitBNs - INR: https://bitbns.com/trade/#/nrg
Mercatox - BTC: https://mercatox.com/exchange/NRG/BTC
Mercatox - TUSD: https://mercatox.com/exchange/NRG/BTC
Bithumb - BTC: https://www.bithumb.pro/en-us/spot/trade?q=NRG-BTC
Bithumb - USDT: https://www.bithumb.pro/en-us/spot/trade?q=NRG-USDT
Citex - BTC: https://trade.citex.co.ktrade/NRG_BTC
Citex - USDT: https://trade.citex.co.ktrade/NRG_USDT
Beaxy - BTC: https://www.beaxy.com/trading-paiNRG-BTC
CoinAll - USDT: https://www.coinall.com/spot/full#product=nrg_usdt
WhiteBit - BTC: https://whitebit.com/trade/NRG_BTC
HitBTC - BTC: https://hitbtc.com/exchange/NRG-to-BTC
Gen 3 Calculator: https://nexus.energi.network/reward-calculator
Gen 2 Explorer: https://explorer.gen2.energi.network/
Gen 3 - Core Node: https://docs.energi.software/en/downloads/core-node
5. FAQsGen 3 Wiki: https://docs.energi.software/en/home
Core Node Sync: https://docs.energi.software/en/core-node-troubleshoot
Hello. 👋🏻 Today we will tell you about ACIS-mining and its 3 best algorithms.submitted by VS_community to pyrk [link] [comments]
📌 With the advent of ASICs for mining, it became possible to mine Bitcoin in much larger quantities than using video cards. ASIC is an integrated circuit specialized to solve a specific problem, in our case, only for bitcoin mining. These schemes are many times more profitable than video cards, because with more power (hash calculation speed) they consume much less energy. This served as a good reason to create a cryptocurrency mining business.
📌 In bitcoin and other blockchain systems, the complexity of mining depends on how quickly the miners find the block. Compared with the GPU and CPU, specialized #ASIC miners solve #PoW puzzles better and are therefore able to quickly find new blocks.
📌 Since PoW is still the preferred mining consensus mechanism, we propose to take a multiple algorithm approach. Instead of trying to use algorithms which are ASIC resistant, we propose to use algorithms which have had ASIC miners for quite some time. These are: #SHA256, #Scrypt, and #X11.
🔹 The SHA-256 algorithm has a number of advantages over other information protection technologies. Over the years of use in the cryptocurrency industry, he has shown his resistance to various hacking attempts.
🔹 Scrypt is a cryptocurrency mining algorithm that was previously interesting to many single miners in view of its resistance to the so-called “hardware attack”. The speed of creating blocks in a Scrypt-based blockchain is about 30 seconds. The hashrate, like Ethash, is measured in Megahash per second. Scrypt, first of all, became popular due to its use in Litecoin #cryptocurrency.
🔹 X11 is an encryption algorithm in which eleven are used instead of one function. This means that this technology can provide a high degree of security, because in order to harm the system, an attacker will have to crack all 11 functions, which is very unlikely, because the changes made will be visible after breaking the first function, and developers will have a lot of time to protect the system before the hacker reaches the eleventh function.
Since these miners are already in wide use, the distribution of mining should be fair and even. Furthermore, the use of three different algorithms results in a far less chance of any single person gaining a majority hash rate share. Lastly, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining.
Read more about PYRK mining solutions here: https://www.pyrk.org
Read our Whitepaper to know more about the project:
Electricity consumed by bitcoin network has been constantly and noticeably increasing. During the past years the consumption reached such big a scale, that it can be compared to electricity consumption of some countries, according to BlockchainAnalytics.pro research.submitted by answer__42 to btc [link] [comments]
The world’s first cryptocurrency is steadily becoming more popular and expensive every year. This motivates more individuals and companies to enter the mining business to earn a bitcoin share.
More miners, more efficient equipmentTo validate a block of transactions and receive a reward, miners compete with each other by solving a deliberately complicated mathematical task, or puzzle. Those miners who own more computing power (hashrate) have more chances to win the competition. This incentivizes miners to buy more powerful equipment that consumes more electricity.
At the same time, mining equipment efficiency is constantly improving, and with time less electricity is required to produce the same hashrate. This factor allows to slow down the increasing demand for electricity.
For example, in 2016 Bitmain, world’s largest manufacturer of mining equipment, launched the legendary Antminer S9, which consumed 100 watts to produce one terahash per second, or 100 W/TH/s. The best modification of Antminer S15, released in 2018, consumed 57 W/TH/s. Currently, the most efficient Antminer S17 consumes only 40 W/TH/s.
It is assumed that the market competition compels manufacturers to keep up with each other in developing more efficient hardware. If some manufacturer brings next-generation chips to market, other manufacturers start to produce chips with the same characteristics at about the same time.
On the other hand, new miners are joining the network, thus increasing the hashrate. So the demand for electricity continues to grow. Also, it can be noticed later that the electricity consumption chart is similar to that of hashrate chart.
CalculationsThe incremental volume of electricity consumption is calculated by multiplying newly added hashrate by the best mining efficiency available at that moment.
The sum of incremental volumes represents cumulative amount of electricity consumed by bitcoin network. The metric is expressed in terawatt-hours (TWh). To get annualized volume in terawatt-hours we multiply the consumption by 24 hours and 365 days.
A 100-day moving average was applied to hashrate to make the final result less dependent on the short-term hashrate fluctuations.
Assumptions, used in this study, are very conservative. It means that the results are in the lower limit of the range of possible volumes, and the actual electricity consumption can be higher.
A detailed explanation and interactive charts are provided here: https://www.blockchainanalytics.pro/btc/electricity-consumption/
ResultsCurrently, annualized electricity consumption in bitcoin network is 57 TWh. To help readers get an idea of how much electricity the bitcoin network consumes, a comparison with some countries is provided alongside.
Portugal consumes 49 TWh per year, Romania – 50 TWh, Czech Republic – 59 TWh.
Some more numbers for comparison:
According to conservative estimates, the bitcoin network will consume more than 70 TWh in 2020. This is on a par with Chile, a country with 18 million population.
More thoughts (estimations of how much energy banking industry consumes)Some information from official reports:
Some information on world population:
So, we can assume, that banking industry consumes ~74 TWh per year
The SHA2 hash algorithm is designed to have an unpredictable result for any arbitrary input. A large set of SHA2 "guesses" produces a random distribution of results. Bitcoin requires the winning hash to fall within a specific range of values. This reduces the SHA2 guessing problem Find the biggest Bitcoin miners and pools on the hashrate distribution pie chart Distribution of Hashes. Although the distribution of hashes is not uniform, this does not matter; all that matters is that the distribution of nonces is uniform (which they are, minus the selection effect of starting at 0): 2-D Distribution of Nonces & Hashes. 2-D histogram of hashes and nonces (logarithmic color scale): Bitcoin trading volume 10m 1h 6h 24h 3d 7d 30d 6m 2y 5y all. auto second minute hour day week month. Currency Exchange Spread depth Mining Pool Comparison Chart type Scale type Sum within price range Display sum in Smoothing Smoothing Bitcoin has been on a roller coaster ride since the pandemic began. Total Hash Rate ( THR) distribution analysis by CoinMetrics it’s likely that newer versions of mining hardware will
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