What’s happening te the world of mining? Spil latest coverage suggests, the network is beginning to see a steadily rising hashrate spil mines around the world get commenced and start generating bitcoins.
It’s not just the big companies – puny operations using state-of-the-art chips ter super-efficient gegevens centers are also moving to mine their share of bitcoins. And inbetween all that activity, the bitcoin mining community resumes to develop, grow and discuss the issues of the day.
Gavin Andresen talks bitcoin “backbone” project
Ter a fresh postbode on the Bitcoin Foundation blog, chief scientist Gavin Andresen discussed the latest work of bitcoin core developer Matt Corallo.
Corallo’s fresh project, which Andresen called a “bitcoin backbone project”, involves the construction of a global network of servers aimed at providing miners with a quick, low-latency means of connecting with one another.
Andresen said that the initiative hopes to improve connection speeds for both solo miners and pool owners, writing te the blog postbode:
“If you own a mining pool or are a solo miner, you should connect to Matt’s backbone network, your blocks will propagate quicker to the surplus so you are less likely to lose block races. And you are more likely to hear about fresh blocks sooner, so you waste less time building on an old block.”
He added that network participants outside of those demographics have little to build up from syncing with Corallo’s network, telling that it would result te higher bandwidth consumption.
Beyond the infrastructure build-out, Corallo has also developed a block relaying implement that, according to Andresen, helps streamline the amount of gegevens sent for each transaction. The solution reduces the amount of old gegevens sent ter fresh blocks by 95%, which helps alleviate a key problem te the bitcoin network: information bloat.
At the end of his article, Andresen addressed the criticism that approaches like Corallo’s encourage centralization. To that point he said:
“Anybody can do what Matt has done, and I encourage anybody worried about centralization to create an even higher-performance backbone network and software.”
CoinTerra launches sub-$1 mining contracts
Competition among mining contract firms worldwide has resulted te what some may call a price war, with companies vying for market share ter an increasingly crowded ecosystem.
Bitcoin mining hardware manufacturer CoinTerra, which began suggesting contracts worth up to 1 PH/s earlier this year, has kasstuk the market with a fresh suggest that is notable for its low cost: a $0.99-per-gigahash contract.
Te order to receive this overeenkomst, you have to sign up for a 12-month, 1 PH/s contract that clocks ter at just under $1m. Spil costly spil this may seem ter the fatter picture, it reflects the growing bidding war for miner-customers who may be shifting away from huis equipments to hosted solutions.
Ter a statement, the company said that the fresh contract offers are tied to its next-generation mining products, which are set to kasstuk the market te the next few months. With Q4 expected to be a busy time for bitcoin hardware manufacturer, CoinTerra’s fresh miners will be one of several entrants vying for market share.
CoinTerra noted that the company has bot seeking to shove down internal prices te the past year, telling:
“When wij were developing the TerraMiner IV last year $Three/GH wasgoed our target for standalone hardware. Now, just one year zometeen wij are able to suggest fully hosted mining contracts at a fraction of that price.”
Other companies ter the space, including PeerNova, BitFury and Hashplex have bot seeking to make inroads with cloud-based mining solutions. Spil the bitcoin network’s resource requests grow and more large-scale miners shift to gegevens center spaces, contracts like thesis become attractive to some ter the community.
Cloud mining isn’t without controversy, however. Ter a latest Reddit postbode, Gavin Andresen said that many companies te that space could prove to be Ponzi schemes rather than legitimate businesses.
Spondoolies Tech moving next-gen miner to market ter October
Like many other companies ter the hardware space, Spondoolies Tech is looking to position itself spil the go-to solution for gegevens center-level mining equipment. The Israel-based company is moving aggressively to capture market share te this high-value space, leveraging its near-term success on the SP31 Yukon.
Suggesting Five.Five TH/s ter hashing capacity, the Yukon sports 30 ASIC chips ter a slimline vormgeving. Power-wise, the Yukon draws approximately 1,500 watts at the wall, cementing this product’s status spil equipment meant for the seasoned miner.
Expected to ship te the 2nd half of October, the self-style mining “brute” will no doubt be waterput to the test once deliveries start. Ter a latest statement, Spondoolies CEO Stud Corem remarked that shipments of the company’s existing product line are on schedule.
He noted on the company’s official blog:
“For customers who have already placed orders and are awaiting delivery, our priority is to ensure on-time delivery of your machines so you can instantly commence eyeing ROI. I am therefore very pleased to report that wij will meet our original delivery schedule and provide all customers with on-time delivery.”
Heating your huis. for bitcoins?
Given the fact that some miners ter the community have bot operating since digital currency’s infancy, there have bot chunks of equipment that, along the way, have stopped being useful for the purpose of generating bitcoins. A latest thread on Bitcoin Talk posed the plain question: what else can your miner be used for? The answers ranged from the pessimistic to the humorous, sparking an interesting conversation about finding uses for then-expensive technology.
The instantaneous reaction for some, spil one can imagine, is to use old hardware spil a doorstop. Yet others suggested that using a mining equipment spil a stand-in for a space heater is a fine treatment to keeping a warm slagroom. While it may not be the most efficient way to provide fever, you can’t deny that generating some bitcoins at the same time isn’t a bad proposition.
Spil one BTCTalk forum member noted:
“If you normally have electrified heating te your huis, you might spil well use bitcoin miners instead. All power used by thesis things completes up spil warmth, so ter that sense they’re just spil efficient spil a regular heater that uses the same amount of power. Except you also get bitcoins.”
Another user concurred on this particular utilization, telling that “I wasgoed ter a sauna, making BTC and LTC.”
Perhaps the most humorous response came from one forum member who plans to keep his or hier miners intact for the long term, joking that they might become artifacts of investigate for future generations:
“Maybe thousands of years from now some archaeologist will uncover them and wonder what the hell they were for.”
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Disclaimer: This article should not be viewed spil an endorsement of any of the companies mentioned. Please do your own extensive research before considering investing any funds te thesis products.
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