How POS mining works on the Ethereum 2 network. Synchronization committee and light clients after the Altair hardfork.
ethereum 2 pos mining Classic POW mining on processors, asics and video cards has existed since the emergence of Bitcoin in 2009. POS mining has also been around since 2012 (PPCoin cryptocurrency), but Ethereum's much-anticipated transition to POS mining will have little to do with what we have come to understand as POS mining. Ethereum 2 POS mining is not just storing a certain amount of cryptocurrency on a wallet or node, but also performing the necessary calculations to maintain the network in working order and protect it from hacker attacks. In other words, POS mining in Ethereum network will be a kind of symbiosis of POS and POW mining, where there will be no concept of network hashrate, i.e. there will be no need to constantly increase the capacity of your equipment to compete with other miners. Hacking protection will now be based not on the difficulty of getting 51% hash capacity, but on running 51% number of nodes with a balance of 32ETH for each node. Therefore, the power of your hardware is of secondary importance, you only need to provide a minimum level of performance and further capacity increase will have no effect whatsoever. As of today, the ETH2 network contains 250.480 validators, or 8.239.286 ETH, which means that 51% of the validators would need to be controlled, which means that to attack the ETH2 network you will need 125.000 validators, or 4 million 200 thousand ETH (17 billion dollars at the current exchange rate). That's a lot of money. But even if someone wanted to carry out such a plan, 51% of the validators would not be enough, because there are so-called committees in the ETH2 network.
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ethereum 2 pos mining Classic POW mining on processors, asics and video cards has existed since the emergence of Bitcoin in 2009. POS mining has also been around since 2012 (PPCoin cryptocurrency), but Ethereum's much-anticipated transition to POS mining will have little to do with what we have come to understand as POS mining. Ethereum 2 POS mining is not just storing a certain amount of cryptocurrency on a wallet or node, but also performing the necessary calculations to maintain the network in working order and protect it from hacker attacks. In other words, POS mining in Ethereum network will be a kind of symbiosis of POS and POW mining, where there will be no concept of network hashrate, i.e. there will be no need to constantly increase the capacity of your equipment to compete with other miners. Hacking protection will now be based not on the difficulty of getting 51% hash capacity, but on running 51% number of nodes with a balance of 32ETH for each node. Therefore, the power of your hardware is of secondary importance, you only need to provide a minimum level of performance and further capacity increase will have no effect whatsoever. As of today, the ETH2 network contains 250.480 validators, or 8.239.286 ETH, which means that 51% of the validators would need to be controlled, which means that to attack the ETH2 network you will need 125.000 validators, or 4 million 200 thousand ETH (17 billion dollars at the current exchange rate). That's a lot of money. But even if someone wanted to carry out such a plan, 51% of the validators would not be enough, because there are so-called committees in the ETH2 network.
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Arrow Glacier update on the Ethereum cryptocurrency POW network
ethereum arrow glacierAnother POW update of the Ethereum cryptocurrency chain called Arrow Glacier is scheduled for December 9, 2021. This hard fork will adopt only one change numbered EIP - 4345. This update postpones the so-called ice age or complexity bomb until June 2022. If anyone doesn't know, the complexity bomb is a gradual increase of time between blocks in POW network, which accordingly decreases the income of miners and increases the cost of gas for users of smart contracts. Also in the mentioned EIP-4345 it is said, that the merging of Ethereum POW and POS network should take place before June 2022 and the developers themselves put another deadline for themselves on this date. Which can once again be questioned, as this is not the first postponement of the complexity bomb. To be more precise, it is the 5th postponement of the deadline for the transition to the POS. The first postponement of the complexity bomb was back in the fall of 2017 in a hardfork called Metropolis: Byzantium. Whether or not Ethereum cryptocurrency's two different chains will merge this time to another complexity bomb is probably for everyone to decide for themselves and draw appropriate conclusions about mining this cryptocurrency, and crypto investing. But one thing is for sure - the transition of Ethereum to POS will be one of the most significant events in the cryptocurrency world.
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ethereum arrow glacierAnother POW update of the Ethereum cryptocurrency chain called Arrow Glacier is scheduled for December 9, 2021. This hard fork will adopt only one change numbered EIP - 4345. This update postpones the so-called ice age or complexity bomb until June 2022. If anyone doesn't know, the complexity bomb is a gradual increase of time between blocks in POW network, which accordingly decreases the income of miners and increases the cost of gas for users of smart contracts. Also in the mentioned EIP-4345 it is said, that the merging of Ethereum POW and POS network should take place before June 2022 and the developers themselves put another deadline for themselves on this date. Which can once again be questioned, as this is not the first postponement of the complexity bomb. To be more precise, it is the 5th postponement of the deadline for the transition to the POS. The first postponement of the complexity bomb was back in the fall of 2017 in a hardfork called Metropolis: Byzantium. Whether or not Ethereum cryptocurrency's two different chains will merge this time to another complexity bomb is probably for everyone to decide for themselves and draw appropriate conclusions about mining this cryptocurrency, and crypto investing. But one thing is for sure - the transition of Ethereum to POS will be one of the most significant events in the cryptocurrency world.
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https://github.com/prysmaticlabs/prysm/releases/tag/v2.0.5
The next version of the validator for ETH2 began to support a hard fork with the merging of two Ethereum branches.
The next version of the validator for ETH2 began to support a hard fork with the merging of two Ethereum branches.
GitHub
Release v2.0.5 · prysmaticlabs/prysm
v2.0.5
This patch release includes several fixes, new functionality, progress on The Merge hardfork implementation, and an update to the Web UI.
Added
Implement import keystores standard API #9924...
This patch release includes several fixes, new functionality, progress on The Merge hardfork implementation, and an update to the Web UI.
Added
Implement import keystores standard API #9924...
New GDDR6 memory from Samsung will increase video card hashrate by 50%
gddr6 samsung memory hashrate on ethereumSamsung announced new GDDR6 video memory chips with increased data transfer rates of 20Gbps and 24Gbps at the end of 2021. The new chips are fully compatible with JEDEC specifications for GDDR6 standard. This will allow the release of improved versions of the current generations of video cards, which use 16Gbps GDDR6 memory, with minimal effort. I.e. just introduced memory from Samsung is exactly 50% more productive than current solutions. That is exactly what AMD did this summer, when a limited edition of Radeon RX 6900XT LC graphics cards with water cooling and 18.5Gbps GDDR6 memory hit the shelves instead of 16Gbps for the standard RX 6900XT model.
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gddr6 samsung memory hashrate on ethereumSamsung announced new GDDR6 video memory chips with increased data transfer rates of 20Gbps and 24Gbps at the end of 2021. The new chips are fully compatible with JEDEC specifications for GDDR6 standard. This will allow the release of improved versions of the current generations of video cards, which use 16Gbps GDDR6 memory, with minimal effort. I.e. just introduced memory from Samsung is exactly 50% more productive than current solutions. That is exactly what AMD did this summer, when a limited edition of Radeon RX 6900XT LC graphics cards with water cooling and 18.5Gbps GDDR6 memory hit the shelves instead of 16Gbps for the standard RX 6900XT model.
Read More https://ift.tt/3IQpWc3
Binance received a verification code in a text message. What is it?
A confirmation code came in the sms messageBinance is the largest and most famous exchange where cryptocurrencies are traded (Bitcoin, Ethereum, Ripple, Doge Coin and others). If you receive an SMS on behalf of this exchange with a certain confirmation code, then depending on whether you were registered in it or not, you will need to react to such messages. If this is your first time hearing about Binance and cryptocurrencies in general, then simply ignore this message and you can add this number to the blacklist to be sure. Because it's either just someone made a mistake with the number when registering on the Binance exchange or it's a hidden advertisement for you to go to this site out of curiosity and register to buy bitcoins.
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A confirmation code came in the sms messageBinance is the largest and most famous exchange where cryptocurrencies are traded (Bitcoin, Ethereum, Ripple, Doge Coin and others). If you receive an SMS on behalf of this exchange with a certain confirmation code, then depending on whether you were registered in it or not, you will need to react to such messages. If this is your first time hearing about Binance and cryptocurrencies in general, then simply ignore this message and you can add this number to the blacklist to be sure. Because it's either just someone made a mistake with the number when registering on the Binance exchange or it's a hidden advertisement for you to go to this site out of curiosity and register to buy bitcoins.
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Mining on laptops with Nvidia Geforce RTX 3050 Ti and RTX 3050 graphics cards
nvidia geforce rtx 3050 ti mobile mining hashrateAbout mining on laptops with mobile graphics cards Nvidia RTX 3060 RTX 3070, RTX 3080 is already known much if not all, because since January 2021, when laptops with these graphics cards went on sale, they are actively used in mining Ethereum cryptocurrency. Unlike the older versions of the graphics cards RTX 3050 Mobile and RTX 3050 ti Mobile miners bypassed because of the 4GB video buffer (not enough for mining Ethereum) and the later release May - June, when the price of the cryptocurrency has dropped in half from 60.000USD to 30.000 USD per Bitcoin. When you consider that laptops with RTX 3050ti are selling at a price of 1000USD, which corresponds to the current market price of a full graphics card Nvidia GTX 1660 Super, then buying such a laptop with the prospect of its use in mining cryptocurrencies looks not so stupid idea. Especially because the hash rate of RTX 3050 Ti and GTX 1660 Super on KawPow, Zhash and other mining algorithms is almost equal.
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nvidia geforce rtx 3050 ti mobile mining hashrateAbout mining on laptops with mobile graphics cards Nvidia RTX 3060 RTX 3070, RTX 3080 is already known much if not all, because since January 2021, when laptops with these graphics cards went on sale, they are actively used in mining Ethereum cryptocurrency. Unlike the older versions of the graphics cards RTX 3050 Mobile and RTX 3050 ti Mobile miners bypassed because of the 4GB video buffer (not enough for mining Ethereum) and the later release May - June, when the price of the cryptocurrency has dropped in half from 60.000USD to 30.000 USD per Bitcoin. When you consider that laptops with RTX 3050ti are selling at a price of 1000USD, which corresponds to the current market price of a full graphics card Nvidia GTX 1660 Super, then buying such a laptop with the prospect of its use in mining cryptocurrencies looks not so stupid idea. Especially because the hash rate of RTX 3050 Ti and GTX 1660 Super on KawPow, Zhash and other mining algorithms is almost equal.
Read More https://ift.tt/3peZIIz
SNAP Token Public Sale 100% Sold, IEO Closes Successfully
snap token uniswap sushiswapThe SNAP token public sale closed successfully at 9:00pm (GMT+8) on Tuesday 14th December. All token allocations for private sale, public sale, and launchpads were fully sold.Issued by SnapEx, a game-changing crypto derivatives platform, the SNAP Token IEO began with a private sale exclusively for SnapEx users on Friday 3rd December, followed by a public sale the next day on Saturday 4th December.The SNAP token private sale quickly sold out within 1 hour and 43 minutes, with thousands of old and new SnapEx users grabbing tokens priced at $0.02.
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snap token uniswap sushiswapThe SNAP token public sale closed successfully at 9:00pm (GMT+8) on Tuesday 14th December. All token allocations for private sale, public sale, and launchpads were fully sold.Issued by SnapEx, a game-changing crypto derivatives platform, the SNAP Token IEO began with a private sale exclusively for SnapEx users on Friday 3rd December, followed by a public sale the next day on Saturday 4th December.The SNAP token private sale quickly sold out within 1 hour and 43 minutes, with thousands of old and new SnapEx users grabbing tokens priced at $0.02.
Read More https://ift.tt/3EgDV7l
Investments in Ethereum 2.0 for the year yielded a profit of 8% per annum
ethereum beacon chain staking rewardsIn December 2020, the Ethereum Foundation launched the Beacon Chain - the basis for Ethereum's transition to POS mining and the expansion of the functionality of the entire cryptocurrency. The Beacon Chain requires validators who need to keep 32ETH on their account, for maintaining the ETH network in working order, validators are paid a reward in ETH. You can read in more detail how this process takes place in this article: How POS mining works on the Ethereum 2 network. If at the start of the Beacon chain validators were promised to pay 21.7% per annum, then over the past year the number of validators increased 10 times to 272,000 (almost 9 million ETH), due to which the profitability of POS mining of validators fell to 5% per annum.
Read More https://ift.tt/3EkxSPt
ethereum beacon chain staking rewardsIn December 2020, the Ethereum Foundation launched the Beacon Chain - the basis for Ethereum's transition to POS mining and the expansion of the functionality of the entire cryptocurrency. The Beacon Chain requires validators who need to keep 32ETH on their account, for maintaining the ETH network in working order, validators are paid a reward in ETH. You can read in more detail how this process takes place in this article: How POS mining works on the Ethereum 2 network. If at the start of the Beacon chain validators were promised to pay 21.7% per annum, then over the past year the number of validators increased 10 times to 272,000 (almost 9 million ETH), due to which the profitability of POS mining of validators fell to 5% per annum.
Read More https://ift.tt/3EkxSPt
