Lets say I buy one antminer s9, and run it somewhere I can get free electricity. A typical bitcoin mining profitability calculator will say that at 1300watts, I'll make around 500$ a month. Thats a projected 6k per year which is an amazing ROI, but I want to know how I can accurately account for increasing difficulty costs. submitted by
I know that we can never fully predict the fluctuation of bitcoin prices and mining costs, but I want to hear from people who have been in the game a while, what they think. When does mining difficulty increase to a point where the s9 is no longer viable with a typical american electricity cost of 8cents per kilowatt hour? When is it no longer viable for hobbyists at all?
https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/184.108.40.206 submitted by
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.
Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER
the v11 transition (around Oct 4th) and BEFORE
October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.
Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.
The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!
Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.
- Network magnitude unit pinned to a static value of 0.25
- Max research reward allowed per block raised to 16384 GRC (from 12750 GRC)
- New CPIDs begin accruing research rewards from the first superblock that contains the CPID instead of from the time of the beacon advertisement
- 500 GRC research reward limit for a CPID's first stake
- 6-month expiration for unclaimed rewards
- 10-block spacing requirement between research reward claims
- Rolling 5-day payment-per-day limit
- Legacy tolerances for floating-point error and time drift
- The need to include a valid copy of a CPID's magnitude in a claim
- 10-block emission adjustment interval for the magnitude unit
- One-time beacon activation requires that participants temporarily change their usernames to a verification code at one whitelisted BOINC project
- Verification codes of pending beacons expire after 3 days
- Self-service beacon removal
- Burn fee for beacon advertisement increased from 0.00001 GRC to 0.5 GRC
- Rain addresses derived from beacon keys instead of a default wallet address
- Beacon expiration determined as of the current block instead of the previous block
- The ability for developers to remove beacons
- The ability to sign research reward claims with non-current but unexpired beacons
As a reminder:
- Beacons expire after 6 months pass (180 days)
- Beacons can be renewed after 5 months pass (150 days)
- Renewed beacons must be signed with the same key as the original beacon
- Magnitudes less than 1 include two fractional places
- Magnitudes greater than or equal to 1 but less than 10 include one fractional place
- A valid superblock must match a scraper convergence
- Superblock popularity election mechanics
- Yes/no/abstain and single-choice response types (no user-facing support yet)
- To create a poll, a maximum of 250 UTXOs for a single address must add up to 100000 GRC. These are selected from the largest downwards.
- Burn fee for creating polls scaled by the number of UTXOs claimed
- 50 GRC for a poll contract
- 0.001 GRC per claimed UTXO
- Burn fee for casting votes scaled by the number of UTXOs claimed
- 0.01 GRC for a vote contract
- 0.01 GRC to claim magnitude
- 0.01 GRC per claimed address
- 0.001 GRC per claimed UTXO
- Maximum length of a poll title: 80 characters
- Maximum length of a poll question: 100 characters
- Maximum length of a poll discussion website URL: 100 characters
- Maximum number of poll choices: 20
- Maximum length of a poll choice label: 100 characters
- Magnitude, CPID count, and participant count poll weight types
- The ability for developers to remove polls and votes
[220.127.116.11] 2020-09-03, mandatory, "Fern"
- Backport newer uint256 types from Bitcoin #1570 (@cyrossignol)
- Implement project level rain for rainbymagnitude #1580 (@jamescowens)
- Upgrade utilities (Update checker and snapshot downloadeapplication) #1576 (@iFoggz)
- Provide fees collected in the block by the miner #1601 (@iFoggz)
- Add support for generating legacy superblocks from scraper stats #1603 (@cyrossignol)
- Port of the Bitcoin Logger to Gridcoin #1600 (@jamescowens)
- Implement zapwallettxes #1605 (@jamescowens)
- Implements a global event filter to suppress help question mark #1609 (@jamescowens)
- Add next target difficulty to RPC output #1615 (@cyrossignol)
- Add caching for block hashes to CBlock #1624 (@cyrossignol)
- Make toolbars and tray icon red for testnet #1637 (@jamescowens)
- Add an rpc call convergencereport #1643 (@jamescowens)
- Implement newline filter on config file read in #1645 (@jamescowens)
- Implement beacon status icon/button #1646 (@jamescowens)
- Add gridcointestnet.png #1649 (@caraka)
- Add precision to support magnitudes less than 1 #1651 (@cyrossignol)
- Replace research accrual calculations with superblock snapshots #1657 (@cyrossignol)
- Publish example gridcoinresearch.conf as a md document to the doc directory #1662 (@jamescowens)
- Add options checkbox to disable transaction notifications #1666 (@jamescowens)
- Add support for self-service beacon deletion #1695 (@cyrossignol)
- Add support for type-specific contract fee amounts #1698 (@cyrossignol)
- Add verifiedbeaconreport and pendingbeaconreport #1696 (@jamescowens)
- Add preliminary testing option for block v11 height on testnet #1706 (@cyrossignol)
- Add verified beacons manifest part to superblock validator #1711 (@cyrossignol)
- Implement beacon, vote, and superblock display categories/icons in UI transaction model #1717 (@jamescowens)
- neuralnet: Add integrity checking to researcher accrual snapshot registry #1727 (@jamescowens)
- Add workaround for scrypt assembly on macOS #1740 (@cyrossignol)
- gui: Build onboarding/beacon wizard #1739 (@cyrossignol)
- doc: Add CONTRIBUTING.md from bitcoin #1723 (@div72)
- rpc: Implement inspectaccrualsnapshot and parseaccrualsnapshotfile #1744 (@jamescowens)
- scraper: Add disk based state backing for verified beacon list in scraper #1751 (@jamescowens)
- Add ability to recover beacon in block version 11+ #1768 (@cyrossignol)
- refactor: Add transaction context to contract handlers #1777 (@cyrossignol)
- gui: Add context for when BOINC is attached to a pool #1775 (@cyrossignol)
- doc: Clarify what to do if PR in multiple categories (for CONTRIBUTING.md) #1798 (@RoboticMind)
- qt: Add option to choose not to start the wallet minimized #1804 (@jamescowens)
- superblock: Add check for OutOfSyncByAge to SuperblockValidator::Validate #1806 (@jamescowens)
- contract: Standardize contract validation and add block context #1808 (@cyrossignol)
- add seed.gridcoin.pl to default config #1812 (@wilkart)
- gui: Implement sidestake send display #1813 (@jamescowens)
- gui: Add pool/investor pages to researcher wizard #1819 (@cyrossignol)
- ci: Port lint scripts from Bitcoin #1823 (@div72)
- doc: Create basic readme in contrib #1826 (@RoboticMind)
- gui: Implement TransactionRecord::Message #1829 (@jamescowens)
- rpc: Add private_key_available to beaconstatus #1833 (@a123b)
- gui: Validate email address in researcher wizard #1840 (@a123b)
- rpc: Add "getrawwallettransaction" RPC function #1842 (@cyrossignol)
- consensus: Set block version 11 threshold height for mainnet #1862 (@cyrossignol)
- Upgrade LevelDB from v1.17 to v1.20 #1562 (@cyrossignol)
- Re-enable scrypt optimizations #1450 (@denravonska)
- Derive CScript from prevector type (optimization) #1554 (@cyrossignol)
- Disable quorum for grandfathered blocks to speed up sync #1568 (@cyrossignol)
- Refactor hashBoinc for binary claim contexts #1558 (@cyrossignol)
- integrated_scraper_2 branch tracking PR #1559 (@jamescowens)
- Upgrade depends - OpenSSL to 1.1.1d #1581 (@jamescowens)
- Ubuntu 19.10 fixes #1590 (@denravonska)
- Force a re-parse of legacy claims in generated blocks #1592 (@cyrossignol)
- Improve the "versionreport" RPC output #1595 (@cyrossignol)
- Overhaul the core tally and accrual system #1583 (@cyrossignol)
- Overhaul the superblock quorum system #1597 (@cyrossignol)
- Add more data to the "superblocks" RPC output #1599 (@cyrossignol)
- Update Windows Build doc #1606 (@barton2526)
- Change the order of calls in gridcoinresearchd.cpp to optimize rpc shunt path #1610 (@jamescowens)
- Change staking tooltip to display frequency #1611 (@jamescowens)
- Enhancements to ETTS #1442 (@jamescowens)
- Standardize money values as integers #1614 (@cyrossignol)
- Clean up and optimize legacy coin age code #1616 (@cyrossignol)
- Some scraper cleanups #1620 (@jamescowens)
- Reorganize accrual code and fix 6-month cutoff #1630 (@cyrossignol)
- Update Copyright years #1633 (@barton2526)
- Change team whitelist delimiter to <> for CPID detection #1634 (@cyrossignol)
- Change team whitelist separator to <> to accomodate more team names #1632 (@jamescowens)
- Change Curl download speed type to support older environments #1640 (@cyrossignol)
- Optimize logo SVGs used for tray icons #1638 (@cyrossignol)
- Tweak consolidateunspent rpc function #1644 (@jamescowens)
- ETTS and staking icon enhancements #1650 (@jamescowens)
- Implement new transaction fees for block version 11 #1652 (@jamescowens)
- Optimize in-memory storage of superblock data #1653 (@cyrossignol)
- Miscellaneous superblock API improvements and housekeeping #1654 (@cyrossignol)
- Update openssl to 1.1.1f compatibility #1660 (@jamescowens)
- Optimize bdb to avoid synchronous flush of database #1659 (@jamescowens)
- Add support for CPID input to "lifetime" RPC function #1668 (@cyrossignol)
- Overhaul the contract handling system #1669 (@cyrossignol)
- Make the autostart mainnet/testnet aware #1671 (@jamescowens)
- Remove slashes from User Agent in peers tab #1674 (@div72)
- Refactor contracts for polymorphic binary payloads #1676 (@cyrossignol)
- Overhaul the beacon system #1678 (@cyrossignol)
- Replace boost::optional with non-owning pointers #1680 (@cyrossignol)
- Optimize proof-of-stake validation #1681 (@cyrossignol)
- Updated Slack link #1683 (@NeuralMiner)
- Update build-unix.md #1686 (@Quezacoatl1)
- Replace deprecated QT methods #1693 (@Pythonix)
- Made protocol.h more similar to bitcoin #1688 (@Pythonix)
- Touch up some details for block version 11 #1697 (@cyrossignol)
- More tweaks for block version 11 #1700 (@cyrossignol)
- Finish the conversion to the BCLog class based logger #1699 (@jamescowens)
- Move claim version transitional code in miner for proper signature #1712 (@cyrossignol)
- doc: Update threads in coding.txt #1730 (@div72)
- qt: Include QPainterPath in trafficgraphwidget.cpp #1733 (@div72)
- doc: Update doc/build-unix.md #1731 (@div72)
- gui: Show peers tab on connections icon click #1734 (@div72)
- refactor: Change return type of IsMine to isminetype && move wallet files to wallet directory #1722 (@div72)
- build: Updates boost to 1.73.0 for depends #1673 (@jamescowens)
- doc: Update Unit Test Readme #1743 (@RoboticMind)
- wallet: Change Assert To Error Message In kernel.cpp #1748 (@RoboticMind)
- scraper: Shorten display representation of verification codes #1754 (@cyrossignol)
- log: Change ".B." to Clear Message #1758 (@RoboticMind)
- util: Fix braindamage in GetDefaultDataDir() #1737 (@jamescowens)
- scraper: Improve scraper processing of beacon verifications #1760 (@jamescowens)
- scraper: Add instrumentation to convergencereport #1763 (@jamescowens)
- rpc: Improve rpc stress test script #1767 (@tunisiano187)
- Generalize enum serialization #1770 (@cyrossignol)
- scraper: Improve handling of ETags in http class and tweak verified beacon logic #1776 (@jamescowens)
- scraper: Improve ProcessNetworkWideFromProjectStats and other tweaks #1778 (@jamescowens)
- researcher: Automate beacon advertisement for renewals only #1781 (@cyrossignol)
- gui: Tweak behavior of beacon page in researcher wizard #1784 (@cyrossignol)
- Prepare for block version 11 hard-fork on testnet #1787 (@cyrossignol)
- scraper: Modify UpdateVerifiedBeaconsFromConsensus #1791 (@jamescowens)
- gui: Optimize OverviewPage::updateTransactions() #1794 (@jamescowens)
- ci: Adopt ci changes from Bitcoin #1795 (@div72)
- consensus: switch snapshot accrual calculation to integer arithmetic #1799 (@cyrossignol)
- voting: Overhaul the voting system #1809 (@cyrossignol)
- contract: Optimize contract replay after chain reorganization #1815 (@cyrossignol)
- contract: Reimplement transaction messages as contracts #1816 (@cyrossignol)
- staking: Sign claim contracts with coinstake transaction #1817 (@cyrossignol)
- gui: Change research wizard text #1820 (@div72)
- net: Update protocol version and clean up net messaging #1824 (@cyrossignol)
- rpc, wallet: Corrections to GetAmounts #1825 (@jamescowens)
- gui: Tweak some minor researcher wizard details #1830 (@cyrossignol)
- gui: Change GetEstimatedStakingFrequency text #1836 (@jamescowens)
- scraper: Scraper global statistics cache optimization #1837 (@jamescowens)
- doc: Update Vulnerability Response Process #1843 (@RoboticMind)
- scraper: Optimization of manifest and parts sharing between ConvergedScraperStatsCache, mapManifest, and mapParts #1851 (@jamescowens)
- consensus: Update Checkpoints #1855 (@barton2526)
- docs: Update docs to build off master #1856 (@barton2526)
- gui: Fix and improve GUI combo box styles #1858 (@cyrossignol)
- build: Tweak Gridcoin installer for Fern release #1863 (@jamescowens)
- Remove old research age checks (rebase #1365) #1572 (@cyrossignol)
- Remove PrimaryCPID check from diagnostics dialog #1586 (@cyrossignol)
- Remove missed label for PrimaryCPID from diagnostics #1588 (@cyrossignol)
- Remove legacy quorum messaging system (@neural network) #1589 (@cyrossignol)
- Remove old remnants of legacy smart contract experiments #1594 (@cyrossignol)
- Remove block nonce for version 11 #1622 (@cyrossignol)
- Delete obsolete contrib/Installer and Upgrader directories #1623 (@jamescowens)
- Remove redundant LoadAdminMessages() calls #1625 (@cyrossignol)
- Remove some legacy informational RPC commands #1658 (@cyrossignol)
- Remove informational magnitude field from binary claims #1661 (@cyrossignol)
- Remove fDebug3,4, and net and convert to BCLog::LogFlags #1663 (@jamescowens)
- Remove qt5.7.1 depends support build System #1665 (@iFoggz)
- Remove unused jQuery library #1679 (@cyrossignol)
- Remove unused NetworkTimer() function and global state #1701 (@cyrossignol)
- Refactor claim context objects into contracts #1704 (@cyrossignol)
- Clean old assets up #1718 (@div72)
- Remove legacy "rain" RPC (not by-project rain) #1742 (@cyrossignol)
- Temporarily disable voting system on testnet #1769 (@cyrossignol)
- gui: Remove legacy GUI transaction description for contracts #1772 (@cyrossignol)
- gui: Remove transaction fee setting #1780 (@cyrossignol)
- trivial: Cleanup unused legacy functions #1793 (@cyrossignol)
- mining, rpc: Remove kernel-diff-best and kernel-diff-sum #1796 (@jamescowens)
- refactor: Remove libs subdirectory #1802 (@div72)
- scraper: cleanup unused/unnecessary functions #1803 (@jamescowens)
- gui: Remove useless "Detach databases at shutdown" #1810 (@jamescowens)
- test: Remove testnet condition for standard transactions #1814 (@cyrossignol)
- consensus: Remove transitional testnet code #1854 (@cyrossignol)
- Fix "Owed" amount in output of "magnitude" RPC method #1569 (@cyrossignol)
- Add support for paths with special characters on Windows #1571 (@cyrossignol)
- Fix lingering peers.dat temp files and clean up remaining paths #1582 (@cyrossignol)
- Fix incorrect beacon length warning in GUI transaction list #1585 (@cyrossignol)
- Fix default config file line endings on Windows #1587 (@cyrossignol)
- Reenable Travis builds for MacOS #1591 (@jamescowens)
- Correct peer detail info background color #1593 (@jamescowens)
- Fix exception in debug3 mode #1598 (@cyrossignol)
- Fix deadlock in "getmininginfo" RPC function #1596 (@cyrossignol)
- Fix accuracy of statistics in "network" RPC output #1602 (@cyrossignol)
- Fix heights for quorum vote weight calculations #1604 (@cyrossignol)
- Fix deadlock in log archiver when rename fails #1607 (@cyrossignol)
- Fix a spurious segmentation fault during client load on Windows with fast CPUs #1608 (@jamescowens)
- Fix lock order debugging and potential deadlocks #1612 (@jamescowens)
- Add dependencies #1613 (@Scalextrix)
- Fix std namespace pollution #1617 (@denravonska)
- Add missing condition for newbie accrual computer #1618 (@cyrossignol)
- Track first reward blocks in research accounts #1619 (@cyrossignol)
- Fix lingering beacon warning after advertisement #1627 (@cyrossignol)
- Fix accrual calculation for new, zero-magnitude CPIDs #1636 (@cyrossignol)
- Fix diagnostics, add ETTS test, fix tooltipcolor, add missing lock, and add email=investor check #1647 (@jamescowens)
- Fix help message of two RPC methods #1656 (@div72)
- Fix legacy accrual for newbie with non-zero past reward #1667 (@cyrossignol)
- Fix GUI autostart on Windows for paths with wide characters #1670 (@cyrossignol)
- Qualify boost bind placeholders with their full namespace #1672 (@Ponce)
- Fix suffix when copying txids #1677 (@div72)
- Unnecessary if-statement removed #1685 (@Pythonix)
- Fix consolidatemsunspent Help Message #1687 (@Pythonix)
- Fix gettransaction help message #1691 (@Pythonix)
- Fix GetNewMint To Look for Stakes #1692 (@RoboticMind)
- Suppress deprecated copy warnings for Qt with GCC 9+ #1702 (@cyrossignol)
- Fix exclusion error on stats processing and misplaced ENDLOCK logging entry #1710 (@jamescowens)
- Removed unnecessary comparison #1708 (@Pythonix)
- Fixed typo #1707 (@Pythonix)
- Fix out-of-bounds exception for peers tab version slashes #1713 (@cyrossignol)
- Fix transition for v1 superblocks when reorganizing #1714 (@cyrossignol)
- Touch up transition to version 2 transactions #1715 (@cyrossignol)
- Avoid mutating transactions in ConnectBlock() #1716 (@cyrossignol)
- Skip beacon advertisement when already pending #1726 (@cyrossignol)
- Fix Windows cross-compilation in newer environments #1728 (@cyrossignol)
- Fix out-of-bounds access in IsMineInner() #1736 (@cyrossignol)
- Fix a couple of block version 11 issues #1738 (@cyrossignol)
- Fix null pointer dereference in GUI researcher model #1741 (@cyrossignol)
- accrual: Reset research accounts when rebuilding accrual snapshots #1745 (@cyrossignol)
- scraper: Correct update for verified beacons #1747 (@jamescowens)
- accrual: Refactor tally initialization for snapshot rebuild #1749 (@cyrossignol)
- rpc: Fix "cpid" field in "beaconconvergence" RPC output #1750 (@cyrossignol)
- accrual: Fix snapshot accrual superblock state transitions #1752 (@cyrossignol)
- scraper: Correct stale verified beacon logic #1753 (@jamescowens)
- rpc: Correct possible divide by zero in getblockstats #1755 (@jamescowens)
- gui: Fix issues with researcher wizard flow #1756 (@cyrossignol)
- wallet: Stop Error When Starting From Zero #1759 (@RoboticMind)
- Don't count empty email as explicit investor #1761 (@cyrossignol)
- accrual: Fix snapshot accrual superblock state transitions #1764 (@cyrossignol)
- rpc: Cleanup Help Message and Fix Typo #1771 (@RoboticMind)
- scraper: Fix scraper etag header case sensitivity #1773 (@cyrossignol)
- consensus: Use explicit time to check if superblock needed #1774 (@cyrossignol)
- gui: Fix scroll area dark theme styles #1785 (@cyrossignol)
- rpc, gui: Fix three divide by zero possibilities #1789 (@jamescowens)
- rpc: Fix balance pre-check in "rainbymagnitude" RPC #1792 (@cyrossignol)
- accrual: Fix outdated comment and correct grammar #1800 (@RoboticMind)
- gui: Fix stuck cursor on labels #1801 (@div72)
- beacon: Fix research wizard beacon renewal status #1805 (@cyrossignol)
- gui: Fix translations for port numbers #1818 (@cyrossignol)
- util: Create parent directory #1821 (@div72)
- mining: Fix coinstake/claim signature order #1828 (@cyrossignol)
- voting: Remove double increment in loop #1831 (@cyrossignol)
- neuralnet, scraper: Fix compilation with gcc5 and older libcurl #1832 (@a123b)
- wallet: Fix smallest coin selection for contracts #1841 (@cyrossignol)
- gui: Fix display of polls with no votes yet #1844 (@cyrossignol)
- gui: add indentation to diagnostic status bar labels #1849 (@jamescowens)
- voting, gui: Fix formatting and alignment of vote shares and percent #1850 (@jamescowens)
- wallet, rpc: Fix for self-transactions in listtransactions #1852 (@jamescowens)
- accrual: Clear any accrual snapshots when syncing from pre-v11 #1853 (@cyrossignol)
- accrual: Fix reset of accrual directory if starting sync below research age height #1857 (@jamescowens)
- gui: Fix researcher wizard layout on macOS with native theme #1860 (@cyrossignol)
Newbie and thinking of putting an investment into Hashflare (around $1,000). I am having trouble understanding the benefit of cloud mining over buying crypto directly through GDAX or similar. submitted by
Any guidance is greatly appreciated. Also, where can I estimate what my $1,000 could return monthly with Hashflare?
As my title says, just wondering when dealing with this low amount of funds...will I see a difference one way or another between reinvesting daily vs weekly? submitted by
A couple of friends and I are very interested in bitcoin as a hobby and want to start mining with the intention of making some profit. submitted by
Before I say anything else I'm very aware that the market is volatile and profit will be small if anything at all. But I would appreciate some tips on the best hardware to buy and how to set it all up. We are very new to this.
Our current plan would be to buy a pair of S7 Antminers which supposedly have a hash rate of 4.73 Th/s a piece.
However would love some advice on what else I'd need to accompany these miners e.g. cooling systems etc to make it run as efficiently as possible.
Also what would I be looking at in terms of electricity usage?
With the current difficulty level is it possible to break even at least within a few months?
Any help would be greatly appreciated!
Author: Gamals Ahmed, CoinEx Business Ambassador https://preview.redd.it/5bqakdqgl3g51.jpg?width=865&format=pjpg&auto=webp&s=b709794863977eb6554e3919b9e00ca750e3e704 submitted by
A decentralized storage network that transforms cloud storage into an account market. Miners obtain the integrity of the original protocol by providing data storage and / or retrieval. On the contrary, customers pay miners to store or distribute data and retrieve it. Filecoin
announced, that there will be more delays before its main network is officially launched. Filecoin
developers postponed the release date of their main network to late July to late August 2020.
As mentioned in a recent announcement, the Filecoin team said that the initiative completed the first round of the internal protocol security audit. Platform developers claim that the results of the review showed that they need to make several changes to the protocol’s code base before performing the second stage of the software testing process.
Created by Protocol Labs, Filecoin was developed using File System (IPFS), which is a peer-to-peer data storage network. Filecoin will allow users to trade storage space in an open and decentralized market.
Filecoin developers implemented one of the largest cryptocurrency sales in 2017. They have privately obtained over $ 200 million from professional or accredited investors, including many institutional investors.
The main network was slated to launch last month, but in February 2020, the Philly Queen development team delayed the release of the main network between July 15 and July 17, 2020.
They claimed that the outbreak of the Coronavirus (COVID-19) in China was the main cause of the delay. The developers now say that they need more time to solve the problems found during a recent codecase audit. The Filecoin team noted the following:
“We have drafted a number of protocol changes to ensure that building our major network launch is safe and economically sound.” The project developers will add them to two different implementations of Filecoin (Lotus and go-filecoin) in the coming weeks.
Filecoin developers conducted a survey to allow platform community members to cast their votes on three different launch dates for Testnet Phase 2 and mainnet.
The team reported that the community gave their votes. Based on the vote results, the Filecoin team announced a “conservative” estimate that the second phase of the network test should begin by May 11, 2020. The main Filecoin network may be launched sometime between July 20 and August 21, 2020.
The updates to the project can be found on the Filecoin Road Map. Filecoin developers stated:
“This option will make us get the most important protocol changes first, and then implement the rest as protocol updates during testnet.” Filecoin is back down from the final test stage.
Another filecoin decentralized storage network provider launched its catalytic test network, the final stage of the storage network test that supports the blockchain.
In a blog post on her website, Filecoin said she will postpone the last test round until August. The company also announced a calibration period from July 20 to August 3 to allow miners to test their mining settings and get an idea of how competition conditions affected their rewards.
Filecoin had announced earlier last month that the catalytic testnet test would precede its flagship launch. The delay in the final test also means that the company has returned the main launch window between August 31 and September 21.
Despite the lack of clear incentives for miners and multiple delays, Filecoin has succeeded in attracting huge interest, especially in China. Investors remained highly speculating on the network’s mining hardware and its premium price. Mining in Filecoin
In most blockchain protocols, “miners” are network participants who do the work necessary to promote and maintain the blockchain. To provide these services, miners are compensated in the original cryptocurrency.
Mining in Filecoin works completely differently — instead of contributing to computational power, miners contribute storage capacity to use for dealing with customers looking to store data. Filecoin will contain several types of miners:
Storage miners responsible for storing files and data on the network. Miners retrieval, responsible for providing quick tubes for file recovery. Miners repair to be carried out.
Storage miners are the heart of the network. They earn Filecoin by storing data for clients, and computerizing cipher directories to check storage over time. The probability of earning the reward reward and transaction fees is proportional to the amount of storage that the Miner contributes to the Filecoin network, not the hash power.
Retriever miners are the veins of the network. They earn Filecoin by winning bids and mining fees for a specific file, which is determined by the market value of the said file size. Miners bandwidth and recovery / initial transaction response time will determine its ability to close recovery deals on the network.
The maximum bandwidth of the recovery miners will determine the total amount of deals that it can enter into.
In the current implementation, the focus is mostly on storage miners, who sell storage capacity for FIL.
Hardware recommendations The current system specifications recommended for running the miner are:
- CPU 8+
- NVIDIA-manufactured GPU (to be expanded).
- SSD drive designated as large buffer (512GB +).
- Large amount of RAM for data replication account (128GB +)
Compared to the hardware requirements for running a validity checker, these standards are much higher — although they definitely deserve it. Since these will not increase in the presumed future, the money spent on Filecoin mining hardware will provide users with many years of reliable service, and they pay themselves many times. Think of investing as a small business for cloud storage. To launch a model on the current data hosting model, it will cost millions of dollars in infrastructure and logistics to get started. With Filecoin, you can do the same for a few thousand dollars. Proceed to mining
Deals are the primary function of the Filecoin network, and it represents an agreement between a client and miners for a “storage” contract.
Once the customer decides to have a miner to store based on the available capacity, duration and price required, he secures sufficient funds in a linked portfolio to cover the total cost of the deal. The deal is then published once the mine accepts the storage agreement. By default, all Filecoin miners are set to automatically accept any deal that meets their criteria, although this can be disabled for miners who prefer to organize their deals manually.
After the deal is published, the customer prepares the data for storage and then transfers it to the miner. Upon receiving all the data, the miner fills in the data in a sector, closes it, and begins to provide proofs to the chain. Once the first confirmation is obtained, the customer can make sure the data is stored correctly, and the deal has officially started.
Throughout the deal, the miner provides continuous proofs to the chain. Clients gradually pay with money they previously closed. If there is missing or late evidence, the miner is punished. More information about this can be found in the Runtime, Cut and Penalties section of this page.
At Filecoin, miners earn two different types of rewards for their efforts: storage fees and reward prevention.
Storage fees are the fees that customers pay regularly after reaching a deal, in exchange for storing data. This fee is automatically deposited into the withdrawal portfolio associated with miners while they continue to perform their duties over time, and is locked for a short period upon receipt.
Block rewards are large sums given to miners calculated on a new block. Unlike storage fees, these rewards do not come from a linked customer; Instead, the new FIL “prints” the network as an inflationary and incentive measure for miners to develop the chain. All active miners on the network have a chance to get a block bonus, their chance to be directly proportional to the amount of storage space that is currently being contributed to the network. Duration of operation, cutting and penalties
“Slashing” is a feature found in most blockchain protocols, and is used to punish miners who fail to provide reliable uptime or act maliciously against the network.
In Filecoin, miners are susceptible to two different types of cut: storage error cut, unanimously reduce error.
Storage Error Reduction is a term used to include a wider range of penalties, including error fees, sector penalties, and termination fees. Miners must pay these penalties if they fail to provide reliability of the sector or decide to leave the network voluntarily.
An error fee is a penalty that a miner incurs for each non-working day. Sector punishment: A penalty incurred by a miner of a disrupted sector for which no error was reported before the WindowPoSt inspection.
The sector will pay an error fee after the penalty of the sector once the error is discovered.
Termination Fee: A penalty that a miner incurs when a sector is voluntary or involuntarily terminated and removed from the network.
Cutting consensus error is the penalty that a miner incurs for committing consensus errors. This punishment applies to miners who have acted maliciously against the network consensus function. Filecoin miners
Eight of the top 10 Felticoin miners are Chinese investors or companies, according to the blockchain explorer, while more companies are selling cloud mining contracts and distributed file sharing system hardware. CoinDesk’s Wolfe Chao wrote: “China’s craze for Filecoin may have been largely related to the long-standing popularity of crypto mining in the country overall, which is home to about 65% of the computing power on Bitcoin at discretion.”
With Filecoin approaching the launch of the mainnet blocknet — after several delays since the $ 200 million increase in 2017 — Chinese investors are once again speculating strongly about network mining devices and their premium prices.
Since Protocol Labs, the company behind Filecoin, released its “Test Incentives” program on June 9 that was scheduled to start in a week’s time, more than a dozen Chinese companies have started selling cloud mining contracts and hardware — despite important details such as economics Mining incentives on the main network are still endless.
Sales volumes to date for each of these companies can range from half a million to tens of millions of dollars, according to self-reported data on these platforms that CoinDesk has watched and interviews with several mining hardware manufacturers.
Filecoin’s goal is to build a distributed storage network with token rewards to spur storage hosting as a way to drive wider adoption. Protocol Labs launched a test network in December 2019. But the tokens mined in the testing environment so far are not representative of the true silicon coin that can be traded when the main network is turned on. Moreover, the mining incentive economics on testnet do not represent how final block rewards will be available on the main network.
However, data from Blockecoin’s blocknetin testnet explorers show that eight out of 10 miners with the most effective mining force on testnet are currently Chinese miners.
These eight miners have about 15 petabytes (PB) of effective storage mining power, accounting for more than 85% of the total test of 17.9 petable. For the context, 1 petabyte of hard disk storage = 1000 terabytes (terabytes) = 1 million gigabytes (GB).
Filecoin craze in China may be closely related to the long-standing popularity of crypt mining in the country overall, which is home to about 65% of the computing power on Bitcoin by estimation. In addition, there has been a lot of hype in China about foreign exchange mining since 2018, as companies promote all types of devices when the network is still in development.
“Encryption mining has always been popular in China,” said Andy Tien, co-founder of 1475, one of several mining hardware manufacturers in Philquin supported by prominent Chinese video indicators such as Fenbushi and Hashkey Capital.
“Even though the Velikoyen mining process is more technologically sophisticated, the idea of mining using hard drives instead of specialized machines like Bitcoin ASIC may be a lot easier for retailers to understand,” he said.
Meanwhile, according to Feixiaohao, a Chinese service comparable to CoinMarketCap, nearly 50 Chinese crypto exchanges are often somewhat unknown with some of the more well-known exchanges including Gate.io and Biki — have listed trading pairs for Filecoin currency contracts for USDT.
In bitcoin mining, at the current difficulty level, one segment per second (TH / s) fragmentation rate is expected to generate around 0.000008 BTC within 24 hours. The higher the number of TH / s, the greater the number of bitcoins it should be able to produce proportionately. But in Filecoin, the efficient mining force of miners depends on the amount of data stamped on the hard drive, not the total size of the hard drive.
To close data in the hard drive, the Filecoin miner still needs processing power, i.e. CPU or GPU as well as RAM. More powerful processors with improved software can confine data to the hard drive more quickly, so miners can combine more efficient mining energy faster on a given day.
As of this stage, there appears to be no transparent way at the network level for retail investors to see how much of the purchased hard disk drive was purchased which actually represents an effective mining force.
The U.S.-based Labs Protocol was behind Filecoin’s initial coin offer for 2017, which raised an astonishing $ 200 million.
This was in addition to a $ 50 million increase in private investment supported by notable venture capital projects including Sequoia, Anderson Horowitz and Union Square Ventures. CoinDk’s parent company, CoinDk, has also invested in Protocol Labs.
After rounds of delay, Protocol Protocols said in September 2019 that a testnet launch would be available around December 2019 and the main network would be rolled out in the first quarter of 2020.
The test started as promised, but the main network has been delayed again and is now expected to launch in August 2020. What is Filecoin mining process?
Filecoin mainly consists of three parts: the storage market (the chain), the blockecin Filecoin, and the search market (under the chain). Storage and research market in series and series respectively for security and efficiency. For users, the storage frequency is relatively low, and the security requirements are relatively high, so the storage process is placed on the chain. The retrieval frequency is much higher than the storage frequency when there is a certain amount of data. Given the performance problem in processing data on the chain, the retrieval process under the chain is performed. In order to solve the security issue of payment in the retrieval process, Filecoin adopts the micro-payment strategy. In simple terms, the process is to split the document into several copies, and every time the user gets a portion of the data, the corresponding fee is paid. Types of mines corresponding to Filecoin’s two major markets are miners and warehousers, among whom miners are primarily responsible for storing data and block packages, while miners are primarily responsible for data query. After the stable operation of the major Filecoin network in the future, the mining operator will be introduced, who is the main responsible for data maintenance.
In the initial release of Filecoin, the request matching mechanism was not implemented in the storage market and retrieval market, but the takeover mechanism was adopted. The three main parts of Filecoin correspond to three processes, namely the stored procedure, retrieval process, packaging and reward process. The following figure shows the simplified process and the income of the miners:
The Filecoin mining process is much more complicated, and the important factor in determining the previous mining profit is efficient storage. Effective storage is a key feature that distinguishes Filecoin from other decentralized storage projects. In Filecoin’s EC consensus, effective storage is similar to interest in PoS, which determines the likelihood that a miner will get the right to fill, that is, the proportion of miners effectively stored in the entire network is proportional to final mining revenue.
It is also possible to obtain higher effective storage under the same hardware conditions by improving the mining algorithm. However, the current increase in the number of benefits that can be achieved by improving the algorithm is still unknown. It seeks to promote mining using Filecoin Discover
Filecoin announced Filecoin Discover — a step to encourage miners to join the Filecoin network. According to the company, Filecoin Discover is “an ever-growing catalog of numerous petabytes of public data covering literature, science, art, and history.” Miners interested in sharing can choose which data sets they want to store, and receive that data on a drive at a cost. In exchange for storing this verified data, miners will earn additional Filecoin above the regular block rewards for storing data. Includes the current catalog of open source data sets; ENCODE, 1000 Genomes, Project Gutenberg, Berkley Self-driving data, more projects, and datasets are added every day. Ian Darrow, Head of Operations at Filecoin, commented on the announcement:
“Over 2.5 quintillion bytes of data are created every day. This data includes 294 billion emails, 500 million tweets and 64 billion messages on social media. But it is also climatology reports, disease tracking maps, connected vehicle coordinates and much more. It is extremely important that we maintain data that will serve as the backbone for future research and discovery”.
Miners who choose to participate in Filecoin Discover may receive hard drives pre-loaded with verified data, as well as setup and maintenance instructions, depending on the company. The Filecoin team will also host the Slack (fil-Discover-support) channel where miners can learn more.
Filecoin got its fair share of obstacles along the way. Last month Filecoin announced a further delay before its main network was officially launched — after years of raising funds.
In late July QEBR (OTC: QEBR) announced that it had ceded ownership of two subsidiaries in order to focus all of the company’s resources on building blockchain-based mining operations.
The QEBR technology team previously announced that it has proven its system as a Filecoin node valid with CPU, GPU, bandwidth and storage compatibility that meets all IPFS guidelines. The QEBR test system is connected to the main Filecoin blockchain and the already mined filecoin coin has already been tested.
“The disclosure of Sheen Boom and Jihye will allow our team to focus only on the upcoming global launch of Filecoin. QEBR branch, Shenzhen DZD Digital Technology Ltd. (“ DZD “), has a strong background in blockchain development, extraction Data, data acquisition, data processing, data technology research. We strongly believe Filecoin has the potential to be a leading blockchain-based cryptocurrency and will make every effort to make QEBR an important player when Mainecoin mainnet will be launched soon”. IPFS and Filecoin
Filecoin and IPFS are complementary protocols for storing and sharing data in a decentralized network. While users are not required to use Filecoin and IPFS together, the two combined are working to resolve major failures in the current web infrastructure. IPFS
It is an open source protocol that allows users to store and transmit verifiable data with each other. IPFS users insist on data on the network by installing it on their own device, to a third-party cloud service (known as Pinning Services), or through community-oriented systems where a group of individual IPFS users share resources to ensure the content stays live.
The lack of an integrated catalytic mechanism is the challenge Filecoin hopes to solve by allowing users to catalyze long-term distributed storage at competitive prices through the storage contract market, while maintaining the efficiency and flexibility that the IPFS network provides. Using IPFS
In IPFS, the data is hosted by the required data installation nodes. For data to persist while the user node is offline, users must either rely on their other peers to install their data voluntarily or use a central install service to store data.
Peer-to-peer reliance caching data may be a good thing as one or multiple organizations share common files on an internal network, or where strong social contracts can be used to ensure continued hosting and preservation of content in the long run. Most users in an IPFS network use an installation service. Using Filecoin
The last option is to install your data in a decentralized storage market, such as Filecoin. In Filecoin’s structure, customers make regular small payments to store data when a certain availability, while miners earn those payments by constantly checking the integrity of this data, storing it, and ensuring its quick recovery. This allows users to motivate Filecoin miners to ensure that their content will be live when it is needed, a distinct advantage of relying only on other network users as required using IPFS alone. Filecoin, powered by IPFS
It is important to know that Filecoin is built on top of IPFS. Filecoin aims to be a very integrated and seamless storage market that takes advantage of the basic functions provided by IPFS, they are connected to each other, but can be implemented completely independently of each other. Users do not need to interact with Filecoin in order to use IPFS. Some advantages of sharing Filecoin with IPFS:
- Filecoin and IPFS CIDs share hash specifications.
- Use libp2p by Filecoin nodes to create secure connections with each other.
- Messaging between nodes and cluster propagation is facilitated in Filecoin by libp2p pubsub.
- IPLD use for blockchain data structures.
- Use Graphsync to transfer data between nodes.
Of all the decentralized storage projects, Filecoin is undoubtedly the most interested, and IPFS has been running stably for two years, fully demonstrating the strength of its core protocol.
Filecoin’s ability to obtain market share from traditional central storage depends on end-user experience and storage price. Currently, most Filecoin nodes are posted in the IDC room. Actual deployment and operation costs are not reduced compared to traditional central cloud storage, and the storage process is more complicated.
PoRep and PoSt, which has a large number of proofs of unknown operation, are required to cause the actual storage cost to be so, in the early days of the release of Filecoin. The actual cost of storing data may be higher than the cost of central cloud storage, but the initial storage node may reduce the storage price in order to obtain block rewards, which may result in the actual storage price lower than traditional central cloud storage.
In the long term, Filecoin still needs to take full advantage of its P2P storage, convert storage devices from specialization to civil use, and improve its algorithms to reduce storage costs without affecting user experience. The storage problem is an important problem to be solved in the blockchain field, so a large number of storage projects were presented at the 19th Web3 Summit. IPFS is an important part of Web3 visibility. Its development will affect the development of Web3 to some extent. Likewise, Web3 development somewhat determines the future of IPFS. Filecoin is an IPFS-based storage class project initiated by IPFS. There is no doubt that he is highly expected. Resources :
- https://docs.filecoin.io/mine/#types-of-miners https://www.nasdaq.com/articles/inside-the-craze-for-filecoin-crypto-mining-in-china-2020-07-12؟amp
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