Cryptonight asic pool
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mining-pool
A mining pool is a joint group of cryptocurrency miners who combine their computational resources over a network to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency.
Individually, participants in a mining pool contribute their processing power toward the effort of finding a block. If the pool is successful in these efforts, they receive a reward, typically in the form of the associated cryptocurrency. Rewards are usually divided between the individuals who contributed, according to the proportion of each individual's processing power or work relative to the whole group. In some cases, individual miners must show proof of work in order to receive their rewards.
Rewards are usually split among the miners based on the agreed terms and on their respective contributions to the mining activity. Anyone who wants to make a profit through cryptocurrency mining has the choice to either go solo with their own dedicated devices or to join a mining pool where multiple miners and their devices combine to enhance their hashing output. Not all cryptocurrency mining pools function in the same way. There are, however, a number of common protocols that govern many of the most popular mining pools.
Proportional mining pools are among the most common. In this type of pool, miners contributing to the pool's processing power receive shares up until the point at which the pool succeeds in finding a block.
After that, miners receive rewards proportional to the number of shares they hold. Pay-per-share pools operate somewhat similarly in that each miner receives shares for their contribution. However, these pools provide instant payouts regardless of when the block is found.
A miner contributing to this type of pool can exchange shares for a proportional payout at any time. Peer-to-peer mining pools, meanwhile, aim to prevent the pool structure from becoming centralized. As such, they integrate a separate blockchain related to the pool itself and designed to prevent the operators of the pool from cheating as well as the pool itself from failing due to a single central issue. While success in individual mining grants complete ownership of the reward, the odds of achieving success is very low because of high power and resource requirements.
Mining is often not a profitable venture for individuals. Many cryptocurrencies have become increasingly difficult to mine in recent years as the popularity of these digital currencies has grown and the costs associated with expensive hardware necessary to be a competitive miner as well as electricity oftentimes outweigh the potential rewards.
Mining pools require less of each individual participant in terms of hardware and electricity costs and increase the chances of profitability. Whereas an individual miner might stand little chance of successfully finding a block and receiving a mining reward, teaming up with others dramatically improves the success rate. By taking part in a mining pool, individuals give up some of their autonomy in the mining process.
They are typically bound by terms set by the pool itself, which may dictate how the mining process is approached. They are also required to divide up any potential rewards, meaning that the share of profit is lower for an individual participating in a pool.
A small number of mining pools, such as AntPool, Poolin, and F2Pool dominate the bitcoin mining process, according to blockchain. Although many pools do make an effort to be decentralized , these groups consolidate much of the authority to govern the bitcoin protocol. For some cryptocurrency proponents, the presence of a small number of powerful mining pools goes against the decentralized structure inherent in bitcoin and other cryptocurrencies.
Your Money. Personal Finance. Your Practice. Popular Courses. Part of. Guide to Bitcoin. Part Of. Bitcoin Basics. Bitcoin Mining. How to Store Bitcoin. Bitcoin Exchanges. Bitcoin Advantages and Disadvantages. Bitcoin vs. Other Cryptocurrencies. Bitcoin Value and Price. What Is a Mining Pool? Key Takeaways Cryptocurrency mining pools are groups of miners who share their computational resources.
Mining pools utilize these combined resources to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency. If the mining pool is successful and receives a reward, that reward is divided among participants in the pool. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
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This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Terms Bitcoin Mining Breaking down everything you need to know about Bitcoin mining, from blockchain and block rewards to proof of work and mining pools.
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Questions tagged [cryptonight]
Antminer X3 is capable of delivering kHz at watts of power consumption in accordance with the specifications and the type of device as the developer describes it to us. But, unfortunately, in practice it is far from always capable of producing such indicators. This is partly due to the fact that we came across some strange results, trying to get the ASIC miner to work properly in some popular pools and services, such as NiceHash , for example. When you point Antminer X3 to CryptoNight NiceHash not CryptonightV7 , you get a device to connect to and report support for extraction, but all you get is rejections and 0 as a hashrate. Thus, it is obvious that Antminer X3 does not currently work properly on NiceHash, even after flashing the latest available firmware, which seemed a day newer than on the device we tested.
PoW change
Cryptonight heavy is a version of CryptoNight hashing algorithm. Cryptocurrencies choose CryptoNight Heavy to provide themselves with a robust and long-term protection against being a target for ASIC development. With CryptoNight Heavy implementation, developers provide users with:. Mentioned features make CryptoNight Heavy-based networks as secure and private as famous examples of CryptoNight-based cryptocurrencies like Monero and Bytecoin. CryptoNote Heavy also changes the way implodes and explodes are handled. CryptoNight Heavy mining is available for the central processing units, graphic processing units and cloud mining solutions. Cloud mining is not really profitable most of the time and the service you may choose for mining can turn out to be a scam. Not all mining software developed for CryptoNight algorithm family cryptocurrencies supports CryptoNight Heavy. You may have mentioned that miners specify their compatibility with a developer of the GPU. AMD graphic processors are also widely considered to be the best option for the mining of CryptoNight coins by the cryptocurrency community.
CryptoNight-Heavy
Due to the fact that they are designed for a specific use, they will typically have a large performance advantage over hardware that is intended for general-purpose use like CPUs, GPUs, and even FPGAs. Thus, any newly developed ASIC will obtain a significant majority of the network hashrate and introduce centralization. The Monero code was forked from the CryptoNote reference implementation. We also concede that ASICs may be inevitable, but we feel that any transition to an ASIC-dominated network needs to be as egalitarian as possible in order to foster decentralization.
cryptonight
We got our hands on a Bitmain Antminer X3 CryptoNight ASIC miner for a few days and have decided to give this soon-to-be or already way too expensive paperweight a quick test to see what you can expect from the device as they have been shipping for a week or two already to customers. The Antminer X3 is capable of delivering KHS at W of power usage as per specifications and the device kind of manages to actually deliver on these numbers. So apparently the Antminer X3 does not work properly on NiceHash at the moment, even after flashing the latest available firmware that seemed a day newer than the one on the device we have tested. No go on NiceHash which seems as the best option for the moment considering that there are not that many CryptoNight coins left that offer good profit as most of the serious coins have already switched to the new ASIC-proof for now at least CryptoNight V7 algorithm. Here the miner connects and apparently works on the pool side, but the pool reports only about 20 KHS hashrate and not the full KHS that it should.
Baikal BK-N
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TOP coins to mine with Cryptonight ASIC devices (april 2020)
Connect and share knowledge within a single location that is structured and easy to search. CryptoNight is a proof-of-work algorithm that mixes graphics processing unit GPU and central processing unit CPU mining to create a system resistant to both application-specific integrated circuits ASICs and fast memory-on-chip devices. Stack Overflow for Teams — Collaborate and share knowledge with a private group.
Overview of Bitmain Antminer X3 CryptoNight ASIC Miner
Of course, mining is worth it if you have very cheap free electricity! On some mining pools these devices can be used for merged mining of two or more coins. Qwertycoin is a decentralized communited based peer-to-peer protocol for safe payments worldwide. A secure and anonymous cryptocurrency, built with a focus on democracy and privacy. Bytecoin is the first CryptoNote-based currency, which has reached mass adoption successfully.
Monero Battles Miners, Threatens With Algorithm Upgrade
BFGMiner features dynamic clocking, monitoring, and remote interface capabilities. Mining hashrate is a key security metric. Fully compatible with Nicehash. Hashrate CPU table mining cpu yespower, yespowerr It has been around since July 30th, with its latest update on March 14th this year. Nevertheless, there are a number of coins that can only be mined on cpu.
Anonymous and simplified gateway to our pools, connect without registration by using the wallet address of your favorite coin for payments. Master your mining with Foreman. Our fully hosted dashboard lets you see how your operation is performing.
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