Wikicoin Katya Michaels

WikiCoin: What is Blockchain Technology and How it Works

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Although Blockchain is revolutionizing the way we see any kind of digital transaction, the technology itself is not new.
WikiCoin: What is Blockchain Technology and How it Works

At first glance, Blockchains may look just like other records of information that are maintained by a network of users, such as Wikipedia or GitHub. In fact, there are even similarities; the entries are contributed and updated by a community of participants, and no single person controls all of the information. However, at the core, there are key features that distinguish Blockchain networks.

Innovative application of old technologies

Although the concept of Blockchain being used for cryptocurrency was first introduced in Satoshi Nakamoto’s 2008 white paper, the technology itself is not new. Rather, Blockchain is an innovative combination of three existing technologies: private key cryptography, a distributed network with an open ledger, and incentivization protocols.

Private key cryptography

On the Blockchain, every participant’s secure digital identity reference is based on a combination of a public and a private cryptographic key. Together, they form a digital signature which authenticates the user. The next step is authorization — a way to verify that the user has the appropriate resources and permissions to complete a given transaction. Authorization is achieved through a distributed, peer-to-peer network.

Distributed network

Unlike centralized databases, a Blockchain does not have a main server with a master file holding all of the data. Instead, Blockchain is a distributed network where every client, or node, uses mathematical verification to confirm transactions broadcasted by other nodes. As every node arrives at the same conclusion and updates the record independently, the network’s distributed consensus becomes a de-facto official record. This way, Blockchain eliminates the need for a trusted third party to secure digital relationships and reduces the risk of centralized failure.

Transactions

When a user initiates a transaction (such as sending Bitcoin), their private key is combined with the public key of the recipient, as well as the timestamp, description, and other relevant transaction information. This block of data is broadcast to the network and verified through the consensus of nodes that have “witnessed” this transaction. Finally, the transaction is added to the official record.

Protocol

The more nodes that can verify a transaction, the more secure the network will be. Different Blockchains use different methods for creating incentives and achieving distributed consensus: some are based on Proof of Work, some on Proof of Stake. Each Blockchain’s protocol outlines specific rules for verifying transactions, adding new blocks and allocating rewards. In any instance, Blockchains attempt to find fresh solutions to the ancient “tragedy of the commons” problem by engaging users’ self-interest to fulfill a public need.

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Ethereum, Bitcoin, Litecoin or Ripple: What’s The Most Eligible $100 Investment in 2019?

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Which cryptocurrency will bring you a higher reward upon a $100 investment: Ethereum, Ripple, Bitcoin or Litecoin? It’s time to make things clear
Ethereum, Bitcoin, Litecoin or Ripple: What’s The Most Eligible $100 Investment in 2019?

Despite the fact that many altcoins keep popping up and even manage to gain props and acclaim from the cryptocurrency community, the top-10 crypto coins still comprise the tastiest piece of the pie. They attract investors, but not all that glitters is gold (at least, not always). How to invest $100 to earn money? Will the major cryptocurrencies (Ethereum, Bitcoin, Litecoin and Ripple) multiply your riches? Let’s analyze in detail.

We will start by looking at the prospects ahead: the teams behind each cryptocurrency have prepared something new.

Ethereum: Upgrades and Hard Forks

During the last three years, Ethereum served as a blockchain platform to create dApps and games: there are already over 2,000 dApps on the platform, and the number continues rising. That caused concerns about scalability, and the team was tight-lipped about upgrades. The next upgrade is called Constantinople and will be released in January 2019. It will improve blockchain efficiency, reduce block rewards for mining, and make the system more ASIC-resistant.

It’s bad news for miners, but good for potential investors. Later in 2019, Ethereum will introduce Casper protocol and sharding. Casper allows for making a shift from PoW to PoS protocol and solving the problem of serious power consumption during mining. Sharding will make up for higher transaction speed – a single node won’t have to process every transaction in the blockchain for the new operation to be performed. Besides, three Ethereum hard forks will be emitted: Classic Vision, Ethereum Nowa, and Constantinople Ethereum.

Advantages of Ethereum’s Constantinople

As for Ethereum price prediction, some experts doubt that it will beat the previous records. However, such specialists such as blockchain expert Julian Hosp have the opposite opinion. He claims that the Ethereum market cap can reach $200 bln by the end of this year, which means that ETH price can reach up to $2000. His prediction is mostly based on the ICOs that are not being organized on Ethereum blockchain.

According to Joseph Raczynski, the founder of JoeTechnologist.com, Ethereum will hit $1,200 at the end of 2019. His prediction is based on the fact that this blockchain utilizes Proof of Concept, the most trusted consensus model. He said:

“They are (Ethereum) one of the most real projects to date. Nearly all large organizations are testing on this platform.”

Tom Lee, the head of Fundstrat Global Advisors, claims ETH will trade at the level of $1,900 by the end of 2019 thanks to a recovery from its current positions.

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Bitcoin: Focus at The Problem Of Speed

Despite awful fluctuations and bearish market tendencies, Bitcoin continues developing, and the main upcoming achievement is an upgrade of the Lightning Network. Today, Bitcoin processes 7 transactions every second – its low speed is the main point of criticism. The Lightning Network which was created in 2017 has recently progressed due to the adoption by CoinGate payment processing startup and support from 4,000+ nodes. The full-version release of the network will take place in 2019 – it can give Bitcoin a new kickstart.

Roger Ver’s opinion about The Lightning Network

Litecoin: Promotion of Everyday Crypto Payments

While Bitcoin is viewed rather as a store of value, people prefer keeping it instead of using for everyday purchases. Litecoin is its hard fork that was designed to enable regular micropayments. The Litecoin team has already organized a campaign to encourage this habit - paywithlitecoin.co. It demonstrates the key benefits of paying with LTC, such as low fees and striking transaction speed.

With release of Litecoin Core 0.17, LTC fees will become even lower! This update will be introduced early in 2019. It doesn’t mean that the Lightning Network will turn into a fully-fledged functioning solution in 2018 – the above-mentioned improvements are only steps on the path to the full switch to real-world LTC crypto payments.

To top it off, Litecoin will allow for more anonymous transaction on its blockchain to attract users. This hint was given by Charlie Lee (Litecoin’s founder): he said it could be one of the top priorities in this year.

Ripple: Bet on Institutional Investors

The main prediction for XRP is that Ripple will become next Bitcoin in 2019. Why? Thanks to the flow of institutional money: the attention of world’s largest banks will be the catalyst of Ripple development.

Ripple serves for easy international fiat transfers

If you were a serious investor with millions of dollars to spare, what would you choose? Of course, the low-risk, high reward option! That’s what Ripple promises to become: institutional investors have a high level of confidence in this crypto asset. If the positive Ripple prediction materializes, its price can double this year, or even hit the $5 threshold. Some crypto pundits claim that Ripple will reach $20 in 2019, which would be a groundbreaking record for it.

What about technological advancements in 2019? No breakthrough events will take place this year – Ripple just continues strengthening its positions slowly but steadily. It boasts a huge list of current and potential investors:

  1. SBI Investment;

  2. IDG Capital;

  3. Hinge Capital;

  4. Digital Ventures;

  5. Core Innovation Capital;

  6. Santander InnoVentures;

  7. and many more companies.

Ripple has already made some holders millions: its previous CEO, Chris Larsen, holds a 17% stake in the company and 5.19 bln XRP coins, which gives him about $37.3 bln in total. The current Ripple CEO, Brad Garlinghouse, holds 6.3% stake in Ripple and some tokens – his net is estimated in at least $9.5 mln.

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Strong Sides of These Blockchains

Let’s create a breakdown of the major advantages of each coin:

Ethereum

Bitcoin

Litecoin

Ripple

  • Used for making dApps;

  • ensures optimal TPS speed;

  • technical improvements in 2019.

  • the largest market cap;

  • technical improvements are coming;

  • a lot of supporters;

  • active introduction in eCommerce;

  • still a lot of hype left.

  • optimized for regular daily payments;

  • higher speed than Bitcoin;

  • still mineable;

  • will ensure a higher level of anonymity.

  • huge support from institutional investors;

  • world’s 2nd largest cryptocurrency by market cap;

  • still cheap.

Should You Trust Crypto Price Predictions?

Practice shows that crypto price predictions prove to be useless, especially short-term ones. You never know how much a digital asset will cost tomorrow, or in a week, or in a month – the market is ever-volatile.

Many crypto experts agree that we shouldn’t expect huge growth – cryptocurrencies have become stable. The market experiences a comedown from the fever of 2018, and 2019 promises to be less volatile.

Is it good? It depends on the strategy you prefer, but don’t expect your $100 crypto purchase make you $10,000 in one day! Opt for long-term investments.

What if neither ETH, BTC, LTC, and XRP are good options? “Maybe I should try some altcoins to have my riches multiplied?” – you may ask. At the end of 2018, many cryptocurrencies and projects have broken the cover and appeared to be...scams.

Do you know what is one of the major predictions 2019? 90% of cryptocurrencies will die. Half of them are already out: 50% have been revealed to be scam or dead. Obviously, it’s better to be safe and sound with old tried Bitcoins.

The cryptocurrencies with added value will stay for long – they will continue developing and providing more benefits to users.

2019 Trends to Base Your Strategy On

If you’re still unsure which choice to make, let’s observe the main crypto trends of this year. It will help you to choose the right direction.

  1. Crypto margin trading loses its popularity. Lots of people lost their money and now prefer leaving money instead of risking. They were also discouraged by income taxes on their gains, which brings into question the profitability of margin trading. It means that investors who left will be more careful in their decisions, and crypto exchanges will face stiff competition.
    It means two things. First, crypto-to-crypto exchanges will suffer from low trading volumes. Secondly, institutional investors are unlikely to invest in something that doesn’t trade with fiat.

  2. Price volatility will subside. The market will witness more stability than in the previous years, which is good for institutional investors – they can be sure in steady growth. It is also good for user adoption. But if you preferred earning money on currency movements, it’s not a lucky period.

  3. News and events won’t generate as much hype as before. It means no speculation on news – investors who learned through a series of painful experiences will be more skeptical to rumors.

  4. More institutional investors will be attracted. They have a very serious approach to the choice of blockchain projects, so only the most well-established companies have a chance to get a piece of the pie. Of course, it will take a lot of years for institutional money to settle on the crypto market, but Bitcoin futures and crypto securities will trigger the process. Financial companies come up with financial solutions for Bitcoin, that’s why it can get a boost.

  5. The bull run is not likely to happen. The market should recover from the bear period. There were predictions about Bitcoin hitting $5,000 and even $12,000 by the end of 2018 – all of them were wrong, and BTC’s nosedive was underestimated. The golden rule of the Wall Street is that the bear market comes suddenly, and the bull market goes gradually. Even if Bitcoin futures get enough popularity, it will be spontaneous.

  6. Scalability continues being a problem. Despite the upcoming upgrades, many blockchains are still unable to solve the issue of speed. Although Ethereum will launch Casper Protocol soon, the new achieved TPS rate won’t be groundbreaking. The Lightning Network will be fully adopted only in a year.

  7. Cryptocurrency becomes more mature due to the regulatory frameworks. Governments plan to launch the state cryptocurrencies, and this is also likely to cause a bull run in the crypto market. More people will be involved in the crypto environment.

  8. Security tokens are highly anticipated. Unlike usual crypto assets, they represent some certain stake in the company, which means they have real value. Once regulatory frameworks are established, a lot of security tokens will be massively launched. Security offers have better fundraising models than ICOs, so they are to attract more investors.

When it comes to crypto securities, it is expected to turn into a battlefield for all major existing platforms. Every company will try to promote its own securities by all means possible, but, of course, it’s too early to decide who will win.

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Long-term vs short-term investments

Before you decide to invest in something, think thoroughly and stick to some certain strategy. You need to have a clear understanding of how long you’re ready to keep your investment, and which profit you want to make.

 

Long-term investment

Short-term investment

How long to keep the money?

Typically, the minimum time lapse is 6-12 months, though some people can keep their money for 5 and 10 years.

From a few seconds to a few months. You can keep the money for as long as you reach some certain profit percent, or overcome the minimal profit loss threshold.

What to take into consideration?

  • Long-term price predictions.

  • Technical achievements (current and future) and perspectives.

  • The team behind the project.

  • Investors.

  • Previous performance.

  • How much loss you’re ready to accept.

  • How much profit do you want to make?

  • Upcoming news, events, any hype connected with the currency.

  • Current market tendencies.

Which coins to buy for that?

Ethereum, Ripple

Bitcoin, Litecoin (?)

Both long-term and short-term strategies have their pros and cons. A long-term investment gives you a better warranty for making a profit down the road, and the money you get might be considerable!

If you are a panic-seller, don’t even opt for long-term purchases. Instead, study the market and the cryptocurrencies in question, and make predictions based on your own analysis. Never invest money you can’t afford to lose!

Bingo? It’s time to act and make a purchase!

Before you bet on any cryptocurrency, ask the following questions:

  • Is their technology superior to competitors?

  • Are the dev and founder teams consistent enough? Who stands behind the project?

  • Do they have a good roadmap?

  • Does the blockchain solve any real problems?

These four questions alone explain why we considered Bitcoin, Ethereum, Litecoin, and Ripple today. It’s up to you to decide how to spend your $100. Chances are equally high if you select the right strategy.  

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Dogecoin Mining Pools - Is It Worth It?

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Do Dogecoin mining pools live up to the hype? Let’s find out whether mining DOGE is worth it, and what is better – solo or mining in rigs?
Dogecoin Mining Pools - Is It Worth It?

 

 

Let’s be sincere: we’ve gotten tired of Ethereum and Bitcoin, and when it comes to ETH and BTC mining, crypto enthusiasts became disappointed in them in 2018. The bang isn’t worth the invested buck. What to do if you still want to be the part of cryptocurrency family and a proud owner of digital coins? Try Dogecoin! Let’s find out whether Dogecoin mining is profitable, and what the best ways to obtain it are.

Why Doge?

Dogecoin (DOGE) is the first coin that was intended to be some kind of joke. To be more precise, this coin was created with a pinch of sarcasm and a great will to make crypto more available for ordinary people. Surprisingly, the coin has become popular: 200k followers, 100k subscribers, and thousands of miners. It’s more than Iota and NEO have. Could Doge creators have imagined their creation would ignite such interest?

The Dogecoin community is large, but what about its mining properties? The numbers show that the coin is actually more competitive than other coins from the standpoint of block rewards.

Cryptocurrency  

Mining difficulty (01/12/2019)

Reward (For 1 Block)

Bitcoin

5,618,595,848,853.28

12.5

Ethereum

2,651,619,145,272,150

5

Litecoin

6,106,167.56668499

25

Dogecoin

2,404,260.6685

10,000

Dogecoin has the largest reward per block, leaving Verge with its 750 coins behind. Does it mean that mining Dogecoin is more profitable? Not necessarily. However, it’s the 24th cryptocurrency by the market cap and is expected to see a fundamental increase in cost as it continues evolving. That’s why Doge mining profitability can get higher.

Solo or mining in pools?

Here comes the first pitfall: there’s actually no such thing as pure Dogecoin mining because you have to mine it together with Litecoin. Turns out, DOGE coins are simply the by-product of Litecoin mining. You have a choice: to join a Dogecoin mining pool or hunt for the coins on your own. The key advantage of mining solo is the fact you get the reward alone (which is considerable thanks to a large block reward).

But solo mining is like playing roulette: your chances of mining the whole block alone are minor. If you have rather weak hardware, you can be mining it without any success. If you join a pool, though, your chances will multiply. But be prepared to pay fees.

Solo vs Mining pools
The difference between solo mining and mining pools

 

No matter which coin you’re interested in, we highly recommend joining a mining pool. Why? Because the worthiest crypto assets have the highest mining difficulty, and earning them without anyone’s help is impossible without an ultra-advanced mining pool (which most of us can’t afford).

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7 best Dogecoin mining pools

The first thing you should keep in mind is that Dogecoin mining pools should support the Scrypt hashing algorithm. Until recently, GHash.IO was the ultimate choice for Dogecoin miners, but it was closed in 2016. Now miners have to search for alternatives and, luckily, there are plenty of them.

1. Multipool.us

This is one of the oldest mining pools around. Multipool allows mining 29 crypto coins with various algorithms, including Scrypt. Several currencies can be mined simultaneously. The main advantage of multipool is that it has a great payout. Besides, there are no withdrawal fees, and you can boost your profits with the help of merge mining feature.

Multipool.us user interface
Multipool.us website interface

 

2. Prohashing

Prohashing is among the most demanded Scrypt mining pools that are used for mining different altcoins. You just need to register and choose a crypto asset for reward (DOGE is available). What are the key benefits of this mining pool? It has agreeable fees and offers detailed statistical data (number of miners, hash rate, real-time profitability, etc).

3. 1CoinPool

1CoinPool is a mining pool for both LTC and DOGE. It has no fees, though users’ donations are welcome. Judging by the information on their official website, 1CoinPool mines three blocks per week. Users are rewarded proportionally to the hashing power they provide.

Alternatively, you can use a mining pool that works with the X11 algorithm. Note that Darkcoin and Dash support this algorithm, and you can request a payout in Dogecoin, too.

4. HashFaster

The name of this mining pool is totally justified: you can start mining without creating an account. Choose your username and specify the wallet address, and you’re ready to start. The first payout will take up to six hours only.

HashFaster is very easy in navigation
HashFaster website interface

 

5. Litecoinpool

This option is recommended for merged mining. Litecoinpool was established in 2014 and has quickly gathered a good reputation. It utilizes a transparent payout system with the pay-per-share (PPS) rate. By default, payments are made in Litecoin, but you can also request reward in merge-mined currencies such as Dogecoin. In comparison with traditional LTC mining pools, such a website will bring you more money. Besides, it’s said that it was the first LTC pool use TLS-encrypted Stratum connections for protecting miners.

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6. Eobot

This is another mining pool that’s been around for over 5 years. Eobot was established in 2013 and is still one of the most popular choices among miners. Users can mine coins based on Scrypt and SHA-256. Earnings can be withdrawn in different currency including Dash, XRP, and Doge. The website ensures an unbeatable level of protection for users, though it won’t hurt to use 2-step authorization.

Eobot – a sure-fire choice for Dogecoin mining
<g class="gr_ gr_148 gr-alert gr_spell gr_inline_cards gr_run_anim ContextualSpelling ins-del multiReplace" data-gr-id="148" id="148">Eobot</g> is one of the most reliable Dogecoin mining pools with cloud mining option

 

7. Aikapool

This is a small mining pool with about 100 miners – the right spot for starters. It supports various Scrypt-based altcoins, including Doge.

So, is the game worth the candles burnt?

Here we come to the most important question: should you mine Doge? The sad truth is that such a venture is not really worth your effort – the reward is so small, it won’t even cover electricity.

The main reasons for NOT mining DOGE are:

  • Direct Dogecoin mining is not profitable because recently it switched to merged mining. It means you have to compete with 3 Terahash of LTC pools. The coin is too cheap to cover your expenses and compensate efforts.

  • In fact, mining most Scrypt coins are not profitable unless you have free electric power and equipment. According to statistics, it brings miners $1 every 2 months per every megahash spent. Not a fair deal, is it?

  • If you don’t have juggernaut servers, don’t rush to start mining – you can’t compete with huge mining farms that run with the help of hydropower stations.

  • Dogecoin has an unlimited supply, which will inevitably lead to inflation.

  • Think about cloud mining instead? Unfortunately, a lot of cloud mining websites appear to be a total scam.

Does it mean you shouldn’t even try dealing with Dogecoin? No, you can become a DOGE owner just to join the crypto community and add to your crypto asset portfolio. Mining other coins and converting them into DOGE might be a better idea. Alternatively, you can pay attention to the new Dogethereum fork (DOGX) – it utilizes the same algorithm as Ethereum.

Dogecoin is not the only altcoin available – you’re free to choose a lot of replacements. This cryptocurrency was created just for fun, so you should approach DOGE mining the same way.

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Best Bitcoin Mining Software 2019

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Want to try your luck by mining Bitcoin? Find out which Bitcoin mining software is more likely to get you riches in 2019
Best Bitcoin Mining Software 2019

Bitcoin mining is a must for transaction verification and confirmation on the Blockchain network. The process is performed with the help of specific equipment and tools. If you already have a juggernaut rig, don’t rush to start the process – you will need special software first.

How to become a Bitcoin miner?

Becoming a Bitcoin hunter involves getting the best Bitcoin mining hardware, too. However, that’s only a part of the deal. Once the hardware is bought and installed, you need to have it up and running. The necessary steps are:

  • Getting the best BTC mining software;
  • Setting up your Bitcoin wallets;
  • Starting to mine.

What is Bitcoin mining software?

Bitcoin mining software works in collaboration with the relevant hardware to solve computational algorithms on the network and execute these transactions. This is what directs the computational power in the right direction and helps you to get the maximum out of your equipment.

What should I consider?

When it comes to Bitcoin mining, you should approach the task with all responsibility and seriousness. We have already discussed that Bitcoin mining isn’t really profitable anymore, but if you’re determined to give it a chance, you will need to research and strategize. There’s a wide range of factors that should be taken into consideration.

Be ready for enormous expenses
What does Bitcoin mining profitability depend on?

Seem to be too complicated? As soon as you get a better insight into each aspect and check out the market for possible solutions, you will be able to make the right informed decision.

Now that we have a clue about the requirements for mining, it’s high time to review the most cost-efficient and suitable software solutions for Bitcoin miners.

CGMiner: Best overall performance

Written in C languages almost seven years ago, CGMiner is a versatile solution that supports numerous operating systems. It works with both FPGA and ASIC hardware, and features command line control that allows for overall mining process monitoring, including:

  • fan speed control;
  • hash rate;
  • interface options;
  • network schedule;
  • support of mining pools.

CGMiner boasts smart failover technologies. New blocks are detected automatically, and you will enjoy easy setting management (the menu is a no-brainer). Note that submissions can be saved in cache in case of network failure.

CGMiner works with various ASIC mining hardware options. Though lack of GUI might be a drawback for some, CGMiner is still simply the most recommendable option.

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EasyMiner: Best GUI front-end for multiple tools

This GUI-based software runs on Windows, Linux, and Android. It makes mining simple thanks to the interactive GUI. It starts working instantly using the machine CPU. Every cryptocurrency has various command line tools, but with EasyMiner, the situation is different: it has a simple graphical interface through which you will easily understand the bolts and nuts of mining process navigation. Adjusting settings and doing other activities is extremely simple.

For BTC, it performs ASIC mining and other hardware options. There's also a "Solo" mode for using a pool of your own, and custom hash options for the cryptocurrencies you like. This software uses the proprietary protocol to boost safety for both the pool and wallet.

BFGMiner: Customize the process

If you need something as good as CGMiner but for working with application specific integrated circuits (ASICs), BFGMiner is exactly the thing. Flexibility and easy customization make it the best software for Bitcoin mining – it’s designed specifically for the SHA256 mining algorithm. Like other decent crypto mining software solutions, it allows you to be connected to numerous mining pools.

Besides, BFGMiner saves electricity by limiting the connection if some certain mining pool doesn’t respond. Like CGMiner, it offers a command line interface and is an open-source solution. To top it off, BFGMiner features:

  • a network proxy server;
  • submission to numerous threads;
  • proprietary mining protocol (no proxy);
  • restarting of idle threads;
  • detailed data statistics of the mining process.

The software can also check the temperature, and BFGMiner comes packed with drivers for BTC.

BitMiner: Cross-platform compatibility

Why is BitMiner special? First, it features a proprietary mining pool. Secondly, this is a versatile solution for BTC mining. It runs on different operating systems, and no installation is required for this java software. The suite boasts a comprehensive GUI that's incredibly easy to navigate.

BitMiner interface is simple and intuitive
BitMiner user interface

The extra layer on this cake of benefits is that 99% mining profit goes to the user. The whole gamut of ASICs will work with this suite. Considering the large number of BitMiner users, you need a worthy ASIC to reap the gains.

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MultiMiner: Easy in use

If you’re new to crypto, consider this graphic user interface based mining software. It works equally well with all widespread operating systems. Its mining engine works with various mining hardware and lets you select the coins you'd like to get. Besides, users have the possibility for remote control over MultiMiner rigs.

Being an open-source software, MultiMiner works with all possible devices. To top it off, MultiMiner provides detailed instruction on how to connect the pool once the software is installed. Despite that fact that the software is free, you have the option of sending 1% of the profits you make from mining to the developer. It is not compulsory, and you’re free to opt out at any time.

MultiMiner dashboard
MultiMiner dashboard is a no-brainer

BitMinter: Simplicity coupled with versatility

BitMinter exploits its special mining pools. The software is simple in use, and it supports all popular OS. Although the program is totally free, it charges 1% commission for mining. That’s a pretty fair deal considering the convenience and efficiency you enjoy.

Miner Server: Best for cloud mining

Want to start Bitcoin mining but are not ready purchase an expensive ASIC? Then you should try cloud mining, but remember that only large computing power will bring you some benefits. There’s no need to buy a long-term contract, either – Bitcoin mining difficulty is soaring day by day.

When you start working with Miner Server, you have to join a mining pool and share profits with other users. There’s a large variety of packages with basic cost as low as $0.14. Depending on chosen package, the hashrate ranges about 250-600,000 GH/s. All the tariffs last for one year, and you can manage your Bitcoin earnings and other settings using the account.

You can get extra hash power for free using your reference number for the affiliate program. There are no additional maintenance charges, which makes this platform highly profitable.

Phoenix Miner: Optimal option for minimizing your efforts

This is a free and open-source mining suite that was created by two Bitcoin community members in April 2011. Phoenix Miner also provides support for RPC, w/LP, and MMP. Its kernel loads automatically and the better version will always be adopted.

Bottom Line

Although Bitcoin mining isn’t very beneficial today, you can still try your luck. The truth is that you will need to be ready for huge expenses: electricity, equipment, maintenance – all of that will take a bite out of your wallet. Luckily, Bitcoin mining software is usually free, and there are still decent solutions around.

Start your mining career with a good mining suite, and you will double your chances of making Bitcoin riches in 2019. Bitcoin has a very promising future, so your investment might be compensated down the road.

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Best Cryptocurrency Mining Hardware in 2019

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From old Samsung smartphones to monstrous ASIC miners that will cost you a fortune – U.Today reviews the best cryptocurrency mining hardware of 2019
Best Cryptocurrency Mining Hardware in 2019

With Nvidia, the world’s leading GPU producer, being hit by a class action lawsuit by a group of indignant miners, the future of cryptocurrency mining doesn’t seem that bright (to put it softly). Nevertheless, U.Today reviews the best mining hardware for those who decided to enter the yo-yo market.  

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A perfect buying opportunity?

Unless you have free electricity or plan to heat your apartment with GPUs whirring in the background, there is very little incentive to continue mining – Bitcoin price dramatically plunged by 80 percent in 2018. Along with BTC, the prices of mining hardware caught up with the trend. For example, you can now buy GIGABYTE’s Radeon RX 570 4 GB for only $183.98 (a world of difference from its hefty $600 price tag). As U.Today reported earlier, GPUs are currently being sold at embarrassingly low prices worldwide.

GPU

A quick look at types of mining hardware

  1. CPU. Fun fact: the first-ever block of Bitcoin (‘Genesis Block’) was mined by Satoshi himself on his own PC. Early Bitcoin adopters could mine the first cryptocurrency on their own computer! Pentium4 PC could mine up to 100 BTC in 2010.    

  2. GPU. As the mining space was getting more competitive, the code that allowed using graphics cards for mining was introduced on Sept. 18, 2010.   

  3. ASIC. The bloodbath began in 2013 when ASICs, specific chips for mining Bitcoin, were introduced. They started greatly outperforming GPUs and FGPAs (the latter never caught up with miners).            

Best Cryptocurrency Mining Hardware in 2019

Bitcoin mining – yay or nay?

Bitcoin, despite the sharp profitability drop, remains the king of crypto, and the global mining industry that generates billions of dollars is not going anywhere. If you want to purchase a perfect cryptocurrency miner, here a few suggestions that might come in handy:

  • Innosilicon T3. This is one of the most powerful miners on the market with a whopping 43 TH/s hashrate. The first batch is expected to be delivered to buyers as soon as in January 2019.   

  • GMO miner B3. B3, which was released in November 2018, is yet another juggernaut on the list with 33Th/s of hashing power. However, GMO recently called it quits with its mining business, and for a good reason – B3 is one of the worst miners by profitability (you would actually start losing $4.52 per day when running this miner).

  • Ebit E11+. By offering 37 TH/s of hashing power, this miner easily stands out among its competitors. Given that Bitcoin price currently stands at $3,818, it can offer miners a $2.65 payout (well, at least it’s profitable!).        

  • Antminer S9 (‘oldie-but-goodie’). Antminer S9 has acquired the legendary status in the ASIC space due to its immense popularity. Currently, 2016 fails to generate any profit, but Bitmain is not there to cede ground to a slew of competitors that easily – the Beijing-based behemoth presented its next-generation Bitmain S15/ T15 miners back in September.           

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Ethereum mining hardware options

In November, technology firm Susquehanna revealed that the mining profitability of a GPU mining rig plunged to zero. Bitmain also brought new things to the table by introducing E3 ASIC, the first ASIC that is specifically designed for mining Ethereum). Subsequently, the fact that the Beijing-based behemoth set its eye on Ethereum became a matter of concern for many community members given Bitmain’s near-monopoly status.

Ethereum mining hardware options

When comparing GPUs to ASICs, it is worth mentioning that graphics cards have a sizeable advantage when it comes to depreciation. As mentioned above, ASICs are specifically designed for mining a given cryptocurrency, which means that a spike in mining difficulty could make the likes of E3 obsolete.

Mining ZenCash, Zcash, and other Equihash-based coins

Back in July, Zcash (ZEC) became the most profitable cryptocurrency to mine, showing 400 percent better results than Bitcoin and other PoW-based currencies. Miners could generate an $8,000 ROI with Antminer Z9 mini in two years.

ASICminer Zeon 180K is yet another beast on the market that could mine up to 10 ZCash per day with hashrate of about 180ksol/s. Moreover, this is the first water-cooled miner that went into the mainstream, which means that you can barely hear it working (just keep an eye on that tank reservoir!). At the time of writing this article, it remains the second most profitable miner on the market.

Mining ZenCash, Zcash, and other Equihash-based coinsYes, this unicorn comes at an insane price – $20,000. Hence, many speculate that it would be more efficient to simply fork out this money on several Bitmain Antminer Z9s. One of the reasons why anyone would want to buy ASICminer Zeon 180K, which will most likely stay with you forever, is to do their part in disrupting Bitmain’s monopoly.

Decred or SiaCoin? Meet the mining juggernauts  

MicroBT Whatsminer D1. This is one of the most powerful ASIC miners, which offers an eye-popping 48Th/s. It’s based on the Blake256R14 algorithm, which means that Decred (DCR) is the only currency you can mine with that hardware.    

MicroBT Whatsminer D1.

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Taking into account the average price of electricity ($0.12 KWh per hour), it’s one of the very few ASICs that remain profitable during the prolonging crypto winter. At the time of writing this article, it could make $10.31 per day.  

Obelisk SC1, a $4,000 miner that is specifically designed for mining Siacoin (SC), is the most profitable miner as of now: it could generate up to $20.69 on a daily basis!  

Obelisk SC1

Fire up your CPU to mine altcoins!

CPU Bitcoin mining stopped being relevant in 2010, but there are still plenty of coins you can simply mine on your laptop. That essentially explains why XMR is the most popular coin with cryptojackers who stealthily install mining software on other computers.   

Monero is the only major coin on the block that can be still mined with CPU in 2018 given its resistance to ASIC hardware. However, it is still a much better option to go with GPUs given that CPUs may not give you the desired payout for months.

NB! It’s not the best idea to mine Monero with your laptop (even if it has a top-notch Intel Core i7 9700K) given that they have a tendency to overheat.

AEON is one of the most CPU-friendly coins due to its CryptoNight-light PoW algorithm. Aeon usually mines 3x of XMR.

While Bitmain, the Beijing-based ASIC producer is struggling to hype up its IPO, CPUs are on the verge of making a comeback. The VerusHash 2.0 algorithm, which was introduced on Dec. 21, is supposed to be the fastest CPU mining algorithm in the world, according to the team’s blog post.

Here’s how you can mine crypto with your smartphone

There are many coins that can be simply mined with the help of your phone. Case in point: Electroneum.

Electroneum (ETN) is a cryptocurrency that was launched in September 2017. Electroneum also helps its users to escape the ASIC hegemony with the help of the above-mentioned Cryptonite-light algorithm. The modus operandi is extremely simple – you have to download an Android app to start mining crypto.

It’s worth mentioning that some of the reviews are not particularly flattering with users calling the project an outright scam. The plethora of fraudulent apps that allegedly let users mine cryptocurrencies even forced Google to ban all mining apps from its Play Store.    

Of course, it’s not the best option to use your smartphone for Bitcoin mining – it would take months to generate a tiny fraction of 1 BTC. However, back in 2017, C-Lab, an engineering team from Samsung, managed to come up with a creative way to utilize old Galaxy S5s by building a full-fledged mining rig.      

 

The construction reportedly outperformed a powerful desktop computer
The construction reportedly outperformed a powerful desktop computer

The bottom line

As you can see, the cryptocurrency mining market is saturated with all types of hardware – from your old smartphone to super-powerful ASIC miners that cost up to $20,000. It just goes to show you that everyone can dip their toes in that nascent industry even during the crypto rout.

U.Today wishes you safe and profitable mining!

Wikicoin
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Wikicoin Vera Thornpike

Best Monero Mining Pools 2019

Wikicoin
Getting Monero without breaking a sweat? It’s possible thanks to the top XMR mining pools. Discover the most reliable and efficient Monero mining pools 2019
Best Monero Mining Pools 2019

Despite the bearish character of the market, some people haven't lost hope and continue mining cryptocurrency. All in all, this is still the easiest way to earn some digital coins – once the mining rig is set up, you don’t have to break a sweat to make a profit. However, the computations are becoming more and more complicated, so miners become disappointed in Bitcoin and Ethereum and switch to other coins instead.

For this reason, many start mining Monero: this is one of rare cryptocurrencies that can even be mined with a smartphone. But if you want to have higher chances of mining success, consider joining a Monero mining pool. This way, you’ll be able to generate blocks faster. Let’s observe the worthiest Monero pools for this year.

image

How to select the best Monero mining pool?

In order to choose the most efficient and safest platform, you should consider the following points:

  • Is any fee charged? Typically, Monero mining pools have a 1-2% fee.

  • What’s the total hashing power of the pool?

  • What is the minimum payout threshold? The lower, the better, especially if you have relatively weak mining hardware and need frequent payouts.

  • What’s the location of the pool servers? You need a pool with servers that are as close to you as possible (it should be at least on the same continent). The closer the servers are to your location, the higher the hash power will be.

  • The uptime should be at least 99% for your mining process to be uninterrupted.

To simplify the process of picking up the best Monero mining pool, we have analyzed the most popular options. It will help you to select the most agreeable solution.

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Minergate

This Monero mining pool has been very popular due to several reasons. First, it ensures 99.7% uptime (which means there are practically no interruptions in the mining process). Secondly, it has a standard 1% fee – it’s more than agreeable. Minergate also has a very low minimum payout of 0.01 XMR, so you can easily have daily payouts.

To top it off, web mining is also available with Minergate. That’s what made the platform so popular. Minergate contributes roughly 16 MH/s to the world hashrate, which is approximately 460 MH/s.

Best Monero Mining Pools 2019

MoneroHash

One of the oldest Monero mining pools, MoneroHash was established in October 2014. Its mining fee is a bit high (1.6%), but you avoid transaction fees by mining directly to the exchange wallet. The payout of 0.5 XMR is agreeable, so you should consider this solution, if you don’t have a particularly powerful mining rig. The hashrate at MoneroHash is 4.32 MH/s and uptime over the recent months was a solid 99.92%. The platform offers servers in the U.S. and finds blocks every 2 hours.

Other advantages include:

  • DDoS protection,

  • Integrated address support,

  • SSL/TLS encryption and IPv6 support.

MineXMR

MineXMR charges the same 1% fee as other mining pools, but what makes it stand out from the crowd is a low 0.004 XMR minimum payout, which guarantees you daily withdrawals. The uptime is unbeatable: 100%. Block generation is 45 minutes, and you can choose servers from all over the world. Currently, the hashrate remains over 95 MH/s. It’s not the highest number, but still more than enough for successful mining. Considering all that, it’s no surprise that mineXMR counts over 25,000 active XMR miners from all over the globe.

Best Monero Mining Pools 2019

Nanopool

This is another popular option among XMR hunters. It implements the standard 1% mining fee, though uptime isn’t stable: it used to be 92.74%, but sometimes stays at the level of 99.99%. The minimum payment is 0.3 XMR, and Nanopool has several payment rounds per day. One reason to avoid Nanopool is that it currently has the largest hashrate of any pool at 103 MH/s, which means the number of users is too large. At the moment, overall number of miners exceeds 100,000, and the community continues growing.

While the default payout is 1 XMR, you can change this amount without raising the fee. Additionally, there are a few useful tools for mining and professional recommendations. Users can enjoy extra perks, including PPLNS reward system. Note that the coins you earn can be exchanged for other cryptocurrencies in the pool.

Best Monero Mining Pools 2019

Monero Crypto Pool FR

Monero Crypto Pool FR is a great option for European based miners, though the uptime leaves a lot to be desired: recently, it was only 81.79%, which is simply unacceptable. Besides, the mining fee of 2% is quite high. Minimum withdrawal is 0.3 XMR, and the hashrate is 13.51 MH/s MH/s

Why then choose Monero Crypto Pool FR? This French mining pool ensures a decent level of security and a stable connection. It finds blocks every 7 hours, which is agreeable for having payments made once a day. Its community counts over 1,500 miners, and you will surely find someone trustworthy to cooperate with.

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Support XMR

This pool supports XMR mining only, and it has a low fee of just 0.6% and a minimum payout of 0.1 XMR. Seems to be a pretty sweet concept, doesn’t it? Let me add an extra layer on this cake: SupportXMR pays their miners every two hours, and users are free to set up their own payment limits for regular and exchange wallets. You can also monitor the performance of your rigs on the per worker hashrate chart. The pool is popular, as you can tell by its 82.89 MH/s hashrate. Recently, Support XMR had an uptime of 100%.

Monero pool comparison

Let’s compare the above-mentioned platforms.

 

Pool Fee

Hash rate

Overall Number of Miners

The average time of block generation

Minergate

1%

17.2 MH/s

> 100,000

-

MoneroHash

1.6%

7.87 MH/s

2,500

2 hours

mineXMR

1%

74 MH/s

25,000

45 minutes

Nanopool

1%

103 MH/s

> 100,000

-

Support XMR

0.6%

82.89 MH/s

6,900+

2 hours

Monero Crypto Pool FR

2%

1.93 MH/s

1,500

7 hours

As you can see from the table above, Support XMR seems to offer the best conditions for mining Monero. Being a platform with a narrow focus, it provides everything for fast and efficient earning. At the same time, other platforms mentioned also offer a few perks and appear to be very cost-efficient solutions.

You should also try...

Alternatively, you can try such pools as:

  • XMR.poolto.be

  • XMR.prohash.net

  • XMR.prohash.net

  • XMR Pool.net

The number of users there doesn’t exceed 1,000, but they provide a decent hashrate and different server locations. Choose a mining pool with servers in your country/continent – this way, you will enjoy better results.

Here’s a breakdown of Monero mining pools by server location:

Europe

USA

Asia

Xmrpool.eu, xmrpool.de, poolto.be, xmr.prohash.net, sheepman.mine.bz, xmr.mypool.online, bohemianpool.com, moneropool.com, moneropool.nl, minercircle.com, dwarfpool.com, ratchetmining.com

Monerohash.com, monero.us.to, usxmrpool.com, xmrpool.xyz, minemonero.gq

Alimabi.cn, pooldd.com, monero.reifly.id

Want to find mining partners some other way? Visit forums, such as Reddit: there, you will find information about Monero mining. Don’t forget to read the reviews about mining pools on some independent websites. Using a reliable Monero mining pool, you can multiply your riches quickly and with minimal effort.

Wikicoin
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