RSK Is Evolving; Powpeg Leverages Hash Power To Switch From Bitcoin To Sidech...
RSK, the Ethereum-like sidechain for Bitcoin developed by IOVlabs, is evolving. The federated pegging mechanism, which is based on a Bitcoin multi-signature (multisig) address, is migrating to a system that leverages hash power through RSK’s new special-purpose hardware security modules. “We’re very excited with this release as it is a big step towards a full decentralized smart contract platform on top of Bitcoin,” IOVlabs Chief Scientist Sergio Demian Lerner told Bitcoin Magazine. “This is something the ecosystem requires.” Sidechains And Two-Way Pegs Bitcoin sidechains....
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The pegging process no longer relies on functionaries holding custody of bridged funds. Bitcoin sidechain RSK launched a new bridge protocol called Powpeg, which will facilitate a trustless connection between Bitcoin (BTC) and RSK’s wrapped version of it, called Smart Bitcoin (RBTC). The system marks the first time that a Bitcoin sidechain has featured a trustless peg where the funds allocated to the chain are not controlled by a group of well-defined entities, often called a federation. Powpeg achieves this by combining the security features of a Hardware Security Module, or HSM, with....
In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss RSK’s shift from a federated sidechain model to the project’s new Powpeg solution. The post Video: RSK, Federated Sidechains And Powpeg appeared first on Bitcoin Magazine.
Guldencoin, a national cryptocurrency in the Netherlands, has developed a "readjustment" algorithm called DELTA that adjusts the difficulty in mining block chains. The algorithm helps miners generate blocks at regular intervals. The DELTA readjustment algorithm maximizes the amount of hash power miners have to generate blocks. In doing this, the readjustment algorithm addresses the mining difficulty caused by profit-switching pools. These are centralized mining pools that switch between coins based on the level of coin profitability. Why mining pools switch coins. The pool normally waits....
The pool's hash power has dropped from 5,000 to barely 20 PH/s.
Karma (formerly Karmacoin) is switching to X11. Karma (formerly Karmacoin) has been in decline recently, but that may change as developers announced a huge update today on the official Karma forums. This update will fundamentally alter Karma and differentiate it from Dogecoin and Reddcoin, its tipping competitors. Karma Switching to X11 Hashing Algorithm. The first major Karma announcement is a switch to the X11 hashing algorithm. Karma believes a switch from the current Scrypt algorithm to X11 will decentralize Karma mining, increase security, and promote energy efficiency. It is....