Developers Propose 'Proof of Bitcoin Node' To Reinvent Bitcoin Mining Into Big Data Mining
SpreadCoin, a cryptocurrency, has released a "Proof of Bitcoin Node" (PoBN) that proposes using the block chain to fund bitcoin miners and pay anyone wishing to operate a full bitcoin node by reinventing bitcoin mining into Big Data mining. According to a recently-released white paper, the PoBN will help create a block chain Big Data market that will generate billions of dollars and support a secure, decentralized payment system. The white paper is titled: "Proof of Bitcoin Node, A Mechanism for a Bitcoin Full Node Incentives & Bitcoin Mining Rewards Program." The developers are proposing....
Related News
P2Pool is a decentralized mining pool that consists of a network of peer-to-peer miner nodes. To create a node and join P2Pool, you have to run the p2pool node software. Execoin is a new scrypt ASIC-proof and multipool-mining resistant cryptocurrency that can be effectively mined via P2Pool. This guide will show you how to configure p2pool node software for Execoin, how to join ether the official (and largest) Execoin P2Pool network or a smaller low-hash rate P2Pool network and establish your node as a mining operator peer. We will be using a fork of the original Bitcoin p2pool software,....
If you've been following ethereum at all, you're likely aware the blockchain project has a lot riding on something called 'proof of stake'. A radical change to how the network forms consensus, the idea is somewhat simple in aim, but potentially history-changing in scope. The story goes like this: As far back as 2011, some developers began to worry about the energy that bitcoin – which uses a process called 'proof of work' (PoW) – would require at scale (some recently estimated that it would consume as much energy as Denmark). Further, bitcoin's mining firms were already becoming big....
KnC Miner has announced their expansion of an additional 20 MW to their data center in what they call the Node Pole by the arctic circle. The Node Pole is their nickname for the mining operations so far north. The new data center will be called Boden 2 and bring their site to a total of 30 MW and 15000 square meters. They are to have the new mining data centers operational by the end of 2014. The high rate of which they are building out is showing up in a big way on the Bitcoin Mining Pool Charts and KnC are currently reporting 7% of the global hash rate. KnC recently stated their....
In this part we will talk about "pooled mining" and compare the different approaches.With increasing block generation difficulty, mining essentially becomes a lottery, as it may take years before an individual node manages to create . To provide a more smooth incentive to lower-performance miners, several pooled miners have been created. With a mining pool, a lot of different people contribute to generating a block, and the reward is then split among them according to their processing contribution. This way, instead of waiting for years to generate 50btc in a block, a smaller miner may get....
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....