Archive for the ‘Crypto Coins’ Category

The VeriBlock (VBK) project has recently launched its mainnet after a long period of testing and has just finished an IEO (Initial Exchange Offering) on the Bittrex exchange with all coins available in it sold in just about 10 seconds, so apparently there is quite the interest. VeriBlock’s technology supposedly delivers Bitcoin-level security to both new and established blockchain and cryptocurrency projects that may otherwise be vulnerable. This enables crypto coin development teams to focus on the innovative features and functionality of their project, rather than worrying about possible attacks.

VeriBlock is both PoW (Proof of Work) and PoP (Proof-of-Proof) coin, so you can mine it with your GPUs or spend some Bitcoins to PoP mine it. PoW miners are responsible for creating the blocks, providing the blockchain with intermediate consensus, and providing blockchains inheriting security through VeriBlock with a PoW-powered first line of defense. PoP miners are responsible for publishing a representation of the current state of the VeriBlock blockchain (and by proxy, all blockchains secured by VeriBlock) to Bitcoin in a fully DTTP manner.

Here we are going to focus on PoW mining (vBlake2 algorithm) with AMD and Nvidia GPUs, for both of which there are miners available and a number of pools. Do note that although there are no ASIC miners available currently for VBK, apparently there are FPGAs already available for mining VeriBlock with hashrate equal to that of about three rigs with GTX 1080 Ti (~18 GHS). Using the latest nodecore pow CUDA miner 0.3.11 on GeForce GTX 1080 Ti you can expect to get around 800 MHS hashrate per card, while AMD GPU owners with the latest AMD VeriBlock miner the expected hashrate per Radeon RX 580 8GB should be around 300 MHS (similar to the performance of GTX 1060 or P106 GPUs).

Since the nodecore miners are not yet that stable and fully optimized and sometimes pools are not very responsive, it is wise to use a simple restart script to make sure that your mining rigs won’t end up staying idle. Here is an example BAT file for Windows for the miner:

:loop
Veriblock.exe -o vbk.luckypool.io:8501 -u VHmonhpN6fiuyNdJgGnwsJ741CvkZY -p x
goto loop

The above BATCH file should be fine for the miner cleanly exiting after it encounters some error, however on some Windows systems we have seen the miner crashing with an error window popping up and the above code will not help in such cases. If you experience such instability, then you can add a bit more automation in order to restart the miner every 30 minutes (1800 seconds) with the example code below:

:loop
start Veriblock.exe -o vbk.luckypool.io:8501 -u VHmonhpN6fiuyNdJgGnwsJ741CvkZY -p x
timeout /t 1800
taskkill /f /im Veriblock.exe
goto loop

In order to mine VeriBlock (VBK) locally, since it is not yet available on an exchange (it should very soon be active on Bittrex after the IEO), you will need to install the latest VeriBlock Nodecore 0.4.1, sync the VBK blockchain and then run the Nodecore Wallet GUI 0.4.0 (Java-based platform independent GUI). There are a number of mining pools available already, though most of them are not very user friendly and it is hard to keep a rack on your mining rewards (it is easier to track them at the local wallet than on the mining pool) we would recommend that you try the vbk.luckypool.io as it is currently the most user-friendly visually and functionality wise VBK mining pool out there.

In order to check the current state of the VeriBlock (VBK) network…

The much anticipated Constantinople hardfork of Ethereum was initially planned for the middle of January, however a serious bug was discovered shortly before the time of the fork, so it was postponed. The new date for for Ethereum’s latest network hardfork system upgrade is around 27-28 February (end of the month) or more specifically at block number 7,280,000 (200,000 blocks later than the originally planed block). The hardfork will be in two parts, the first one will include all five EIPs (Ethereum Improvement Proposals) including the problematic EIP 1283, that was the reason to postpone the fork initially, and the second part will be used to remove the problematic EIP 1283. So after the Constantinople and Petersburg hardfork (the two parts we are talking about) the Ethereum network will have the following 4 EIPs active – 145, 1014, 1052 and 1234.

The improvements to the Ethereum network that the new hardfork will bring are numerous and they focus on improving salability, speed and efficiency of the blockchain. There is however a change that is also important to the economics of the Ethereum network and one that is especially important for miners. EIP 1234 is going to adjust the block reward, so after the fork miners will be getting just 2 ETH coins per block instead of the 3 ETH that they are getting at the moment. There isn’t much needed from you to do in order to be ready for the hardfork if you are using or mining Ether, just make sure you update any local wallet or client that you might be running. Also make sure to not make any transactions around the time of the hardfork in order to avoid any possible issues with delayed transactions and lost coins, though normally such problems are not very likely.

Grin is a new crypto project for creating a the private and lightweight mimblewimble blockchain that would provide electronic transactions for everyone without censorship or restrictions. The algorithm that Grin uses is Cuckoo Cycle with 1 minute block time, 60 GRIN block reward and no limit on coin supply or reward halving. There is not going to be any ICO, founders reward, pre-mine or masternodes available for this project, so people that do not like any of these should be Ok with this project. Miners for Grin are still currently being developed, although there are some already announced or available, though initially it could be a bit of a challenge to make things work with the right miner and pool. For instance the official MWGrinPool is currently not taking new registrations, though new pools should be available as alternatives. There are already a couple of options for pools on the Testnet where you can test the mining before the Mainnet launch like Spark Pool.

The official open-source Grin Miner software is currently only available for Linux and Mac OS X and it supports both CUDA and OpenCL mining. For miners looking for Windows miners there is the Grin Gold Miner (with 1% fee for the Grin Development Fund and 1% fee for further miner development), although it also works with Linux) that supports all AMD and NVIDIA 8GB cards (requires a GPU with 8GB VRAM!). Do note however that Nvdia RTX 8GB cards need Linux or Windows 7 due to memory addressing issues. RTX 2080 and RTX 2080 Ti are fastest in terms of performance if you manage to make them work, OpenCL code for AMD cards is currently still being optimized. Cheaper slower Celeron CPUs are not recommended for many cards on the system (similar to Merit and BITC that also use the same algorithm for mining). Another alternative for Windows miners should be the GrinPro Miner that is not yet available for download and that will have 2% developer fee. This miner should work on AMD and Nvidia GPUs with 8GB VRAM, although it promises upcoming support for 6GB VRAM cards as well, so that could be interesting for some users.

Unfortunately zjazz, who was pretty active in miner development for Cuckoo Cycle support for Merit and BITC hasn’t updated his miner for a while and will probably not be supporting Grin mining at least for the moment. The latest version of Bminer that was just made available however also comes with experimental support for mining Grin, so you might want to check it out as well. Do note that it is a closed source miner with 2% developer fee, so have that in mind as well when checking out different miners for Grin. The latest version of the closed source miner NBMiner has also just added support for the Cuckaroo algorithm used by Grin (both Windows and Linux), so you can give it a try as well (Nvidia only).


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