How Ethereum Smart Contracts Could Replace Mining Pool Operators
Ethereum smart contracts might one day be used to combat one of the biggest problems with cryptocurrencies at large, if a new project called SmartPool comes to fruition. Today, nine mining pools make up roughly 75% of the bitcoin hashrate, and the situation is similar for ethereum and the rest. Such "mining centralization" is seen as a potential down-the-road issue for all cryptocurrencies. The problem is that large mining pools have the potential to exert their power in ways that impact users in a negative way. Some bitcoin developers even think that the threat is so severe that....
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BURST now makes smart contracts possible through the block chain. One of the promising applications of the block chain technology are smart contracts. Different startups have been working on launching smart contracts, like Ethereum, but it would appear that a small crypto startup has beaten everyone else to it. BURST has issued the first coin that enables you to create smart contracts straight out from the wallet. The coin uses a Proof of Capacity. BURST uses fewer resources as it only reads from your hard drive once per block and does not use power hungry graphic cards while mining. BURST....
With the recent attack on the Ethereum DAO, it raises the question of how much technical knowledge do individuals and organizations need to know before applying smart contracts to their businesses? Smart Contracts Have a Ways to go and Need Developers. Recently, an article from the Australian Financial Review explained that distributed ledger tech may be....
Genesis Mining recently announced a new type of cloud mining contract that will let users mining Ethereum. It was only a matter of time until one of the cloud mining providers started looking at Ethereum contracts sooner or later. These new Ether Cloud Mining contracts will run for one year, and offer some interesting alternatives when the digital currency switches to Proof-of-stake. Ethereum has been getting a lot of attention in recent times, ever since the digital currency had launched a few months ago. Especially the technology powering the Ethereum network – that allows for the....
Smart contracts are a key underpinning of blockchain technology, yet they are still misunderstood in many ways. In the fullness of their deployment, they will be no less revolutionary than the invention of the HTML markup language that allowed information to be openly published and linked on the Web. Smart contracts promise to program our world on the head of blockchains, and potentially replace many functions currently executed by expensive or slow intermediaries. Historically, the concept was first introduced by Nick Szabo in 1994. Smart contracts then had a long gestation period of....
Cloud mining provider, Genesis Mining, is expanding its mining operations with the launch of Ether Cloud Mining contracts. For the first time, customers of Genesis Mining will be able to mine for Ether, the fuel that powers the Ethereum network. "Our customers asked and we listened. Due to our large-scale GPU mining activities we are glad to offer significant parts of our farms for Ether mining in the cloud. Users can therefore benefit from our economy of scale and our geothermal-powered and optimized GPU mining rigs in Iceland. We are bullish on Ethereum and look forward to giving our....