Connect with us

Blockchain

Coinmine One: Mining Becoming a Part of Everyday Life

Avatar

Published

on

Many startups have tried, but an everyman device hasn’t yet been available. Smart money is a startup willing to bet that the situation will change thanks to Coinmine. The startup’s first product is the Coinmine One. The hardware device will be aimed at crypto miners, who are looking to earn rewards for mining without the requirement of a technical skill set.

Coinmine has backing from investors like Coinbase Ventures and Arrington capital. The Coinmine One will be available for a starting price of $799 and will start shipping in roughly 30 days. Additionally, the company refused to provide a concrete date or name a target for the sales. According to Farbood Nivi, the company’s CEO there is a huge market appeal. Nivi believes the market will have room of millions if not tens of millions of the Coinmine One.

The project was heavily backed by the investor Chapter One Ventures.  The main reasons for the app’s support for the Coinmine One is because of the new opportunities. With Coinmine One many new people will have the ability to get involved and support the crypto infrastructure. In a way many people will be able to enjoy mining like they enjoy games on consoles like PS4 or Xbox.

Coinmine One will sport a miner, which can generate: ether (ETH) at 29Mh/sec, Monero (XLR) at 900h/sec and zcash (ZEC) at 320h/sec. There are also planned upgrades for 2019, which will reportedly enable to run a stake for the bitcoin lightning nodes Dfinity and Filecoin.

Power consumption is also not a large issue. The amount of power consumption is around 120 watts, which is roughly the same as a Playstation 3 while gaming. Another issue handled perfectly is the sound.

The system operates at 40 decibels and it’s a huge improvement from the opera concerts performed by other mining products. This means, most people will be quite happy with leaving the Coinmine One in a room visible by guests.

Coinmine One is the perfect for every household

In an effort to make the system more user-friendly, automatic updates will be made every time the protocol is changed and when more coins become available. Earnings can be managed/viewed at all times by an app.

Nivi also believes that even if the miner price is instantly reduced by over 30% it would still be impossible for normal people to afford them. Not to mention that most people won’t have sufficient room and will not want to deal with the hardware overheating and the extra noise. To top things off, almost no one will know how to update when the protocols change.

This is why Nivi believes people are looking for a way to join the mining world with a lower path of entry. Coinmine One will essentially remove all the hard work. The system will try to keep up with the constantly evolving and changing crypto world.

In the past, there were some attempts for house miners but most of them did not go well. Butterfly Labs, Alpha Technology and GAW Miners’ mining products all failed the test of time. With Coinmine One’s low decibels and even lower utility costs, it’s safe to say that a new category of devices is born.

And with profit being the question on everyone’s mind, Nivi believes that low energy prices and home-friendly set up is something that Coinmine One will offer to crypto enthusiasts, not profit seekers. People cannot expect to earn millions by investing $799 a single time. Coinmine One can also run only a single proof-of-work token at a time. With updates, Nivi thinks the system will be able to run several proof-of-stake tokens with ease.

You can also check out:

Know more than others on any Blockchain Party!

Join more than 5000 others to receive the breaking news and weekly summaries! No ICO spam, we promise. 

You have Successfully Subscribed!

Source: https://www.coinstaker.com/coinmine-one-mining-becoming-a-part-of-everyday-life/

Blockchain

Italian Man Was Caught Using Airport Systems To Mine ETH

Avatar

Published

on

ADVERTISEMENT

An Italian man was caught using the airport computer systems where he worked in order to mine Ethereum illegally as we are reading further in the latest Ethereum news.

The Italian man was working at the airport and took advantage of the computer systems at his workplace to my ethereum. While working on the airport located in the Italian city of Lamezia Terme, the staffer put mining malware onto the airport computer systems according to news reports from Italian media outlet Rai News. The employee is said to have set up a few mining rigs on-site and took advantage of the airport backend systems in the process. The authorities caught the culprit via security camera footage.

private jets, bitcoin, payments, aivatrade

The technical services provider Sacal Global Solutions oversees the technical framework for the airports in the Italian region of Calabria, reported that the airport employee aged 41, is believed to have tapped into the Sacal systems in order to install the mining malware. The staffer’s actions put the airport backend computer systems at risk:

ADVERTISEMENT

“The investigators, with the collaboration of the airport authorities, analyzed the partitions of the IT network inside the hub, discovering the presence, in two different technical rooms, of a real ‘mining farm’ […] connected to the external Internet network through systems dedicated to the management of airport services and powered by the airport’s electricity supply.

The investigations, coordinated by the Lamezia Terme Public Prosecutor’s Office, were conducted with technical activities that made it possible to examine the IP addresses associated with the machines installed, to identify the site of the ‘Ethermine’ pool (used for ‘mining’ of the Ethereum cryptocurrency) and monitor the site.”

ETH Miners Start, ethereum, mining

Crypto mining malware is not uncommon while performing attacks in the crypto industry. during the peak of the last crypto bull market in 2018, these malware attacks reached 55% of the globe’s companies. As reported recently, In 2019, there was no organization, regardless of its size, that was exempted from cyberattacks. Cybercriminal activity is profitable because it is attractive to people without any morals. Researchers estimated that for 2018, cybercrime attacks made US$1.5 trillion. Bitcoin is strong because of the randomness of the data exchanges within the Bitcoin blockchain, and the utilization of sturdy encryption. In consequence, the blockchain and the data cannot be copied or infiltrated through malware or certain other malicious technology. However, transactions that are made around the blockchain are vulnerable to cyberattacks.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/ethereum-news/italian-man-was-caught-using-airport-systems-to-mine-eth/

Continue Reading

Blockchain

Ethereum, Stellar Lumens, Basic Attention Token Price Analysis: 31 October

Avatar

Published

on

On the last day of October Bitcoin was seen nearing its monthly high as it aimed towards the $13,700 mark. The same bullishness was also visible on the trading charts of Ethereum, Stellar Lumens, and Basic Attention Token (BAT), with the three digital assets recording appreciable single day gains.

While the price recovery in Ethereum was still not as strong enough, both BAT and Stellar Lumens noted a trend reversal to bullish post a descending channel formation.

Ethereum [ETH]

Source: ETH/USD on TradingView

Ethereum gained 1.5% over the last 24 hours as it attempted to retrace some gains after witnessing a consistent dip in the price levels since 23 October.

Although, the price recovery still lacked bullish strength as could be seen from the Aroon indicator. The Aroon Up (orange) remained above the Aroon down (blue), but a fall its level at press time indicated weakness in the uptrend.

Again, despite the gains, a hint of incoming selling sentiment could still be noticed, as the Parabolic SAR too underlined a downtrend for the day’s trading session.

Stellar Lumens [XLM]

Source: XLM/USD on TradingView

The Awesome oscillator in the Stellar Lumens (XLM) market displayed a clear bullish crossover above the zero line.

The upward price rally followed a descending channel formation, that gave early signs of an incoming uptrend.

The divergence in the Bollinger Bands meant that the volatility level was on the rise, and a wide price action, given the bullish scenario also supported the recent uptick, that gave a positive return of 4.5% since yesterday.

A strong buy signal picked up from the technical indicators, might further push up the XLM prices towards the $0.079 resistance level over the next few days.

Basic Attention Token [BAT]

Source: BAT/USD on TradingView

Basic Attention Token was trading just above the $0.187 level of support following a 4% gain in price since yesterday. Relative Strength Index with its higher highs was seen heading towards the 60 level, an indication of rising buying pressure.

MACD although displaying convoluted lines at press time continued to remain in the bullish zone and further stayed above the zero level, as the buying sentiment persisted.

The digital asset sharply rose above the trendline and two of its key support levels. BAT could be headed for a brief consolidation along the $0.187 level of support, before witnessing another upward price rally over the next few days.

Source: https://eng.ambcrypto.com/ethereum-stellar-lumens-basic-attention-token-price-analysis-31-october

Continue Reading

Blockchain

Uniswap Retroactive Proxy Contract Airdrop Proposal Receives 28 Million Votes

Avatar

Published

on

Community voting is on for Uniswap’s new governance proposal. The same will see users receive more than 5 million UNI tokens via a proxy contract. As of now, more than 28 million votes have gone in favor of the airdrop. Around 1.3 million votes are against the proposal.

Voting Begins For Uniswap’s Second UNI Airdrop

The voting process is on for passing Uniswap’s Phase 1 of Retroactive UNI Governance Token Distribution. The proposal, if successfully passed, will see 12,619 wallet addresses receive 400 UNI tokens each. However, for the successful receipt of the tokens, they must have interacted with the DEX through a third party or a proxy contract.

As per the numbers shared in the description on the official Uniswap website:

Specifically, this proposal transfers 5,047,600 UNI to a new MerkleDistributor contract, which will then allow for 400 UNI to be claimed by each of the 12,619 accounts held by users of the following projects:

Project Accounts % of total
Argent 3418 27.09%
DeFi Saver 890 7.05%
Dharma 2833 22.45%
eidoo 301 2.39%
FURUCOMBO 57 0.45%
MEW 4278 33.90%
Monolith 19 0.15%
Nuo 740 5.86%
Opyn 79 0.63%
rebalance 4 0.03%

Currently, the airdrop proposal has received upwards of 28 million votes. And around 1.3 million are against the helicopter-like distribution of Uniswap’s governance tokens. Voting will end on October 31 at 8 AM UTC. A quorum of 40 million votes is necessary to pass the proposal.

Dharma Protocol Proposed The Proposal Because…

Back in September, its users were left out of the initial airdrop. According to the Dharma team,

the way the retroactive airdrop was architected seemed to make a slight oversight in the snapshotting process — only addresses which directly called the Uniswap contracts were considered to be users.

Also, increased programmatic bot proliferation might have resulted in one user having multiple addresses. As per the description:

The Phase determination was made based on how easy it is to programmatically hook a trading bot into them, as this is a proxy for what portion of these cohorts risk representing multiple addresses per end-user. Phase 1 is the less programmatically accessible cohort, indicating a lower likelihood of multiple addresses per end-user.

If Phase 1 Passes, There Will Be Phase 2

On the successful passing of the first phase, Dharma has pledged to put in place a second UNI governance token distribution proposal. But they have also discretely mentioned their agreement to the final result (success or failure) of both voting processes.

If either Phase fails, we will accept that as the final determination of the Uniswap community. Should both Phases pass, we will not vote in favor of any further retroactive airdops.

Has this proposal gone down well with other members of the community? Well, some like Jeff Dorman, CIO of the investment management firm Arca have presented a bullish case for UNI (as opposed to those who think the proposal will actually devalue the token’s price).

In a detailed Tweet thread, Jeff called Uniswap’s governance token a ‘pass-thru token.’

UNI is being misrepresented as a “governance” token, and the market has shown that governance has no value. But in reality, UNI is a pass-thru token — where revenues will be passed thru to token holders. $UNI holders are about to earn a very large revenue stream in Feb 2021.
Will Jeff’s views hold true, and will we see the current phase of the UNI airdrop proposal win a majority? That remains to be seen.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/uniswap-retroactive-proxy-contract-airdrop-proposal-receives-28-million-votes/

Continue Reading
Blockchain5 hours ago

Bitcoin-Themed NFT Card Set Launches On Anniversary Of Satoshi’s White Paper

Blockchain3 days ago

Market Analysis Report (28 Oct 2020)

Blockchain3 days ago

Andre Cronje’s New DeFi Token Keep3rV1 [KP3R] Surges By Nearly 500% In A Day

Blockchain5 days ago

The PayPal Effect: Billionaire Chamath Palihapitiya And Libra’s Chief Believe Banks Will Support Bitcoin

Blockchain5 days ago

I Disagree With Armostrong: Ripple CEO on Coinbase Apolitical Policy

Blockchain5 days ago

Ripple Price Analysis: XRP Suffers Hard As Fresh Lows Against Bitcoin Incoming

Blockchain5 days ago

BTC Price Analysis: Bitcoin Weakens As Wall Street In Deep Red, Is $14K Target Intact?

Blockchain1 day ago

Market Analysis Report (30 Oct 2020)

Blockchain5 days ago

PayPal brings ‘crypto gambling’ to US retailers: economist Nouriel Roubini

Blockchain5 days ago

User Transferred $1.15 Billion (0.4% Of Total Bitcoins) Transferred for $3.6 Fees

Blockchain3 days ago

Andre Cronje’s new KP3R token surges 2000% in hours

Blockchain5 days ago

COVID-19 impact on the blockchain market

Blockchain5 days ago

Monero price prediction: XMR to reach $161, analyst

Blockchain2 days ago

Gemini to Offer Real-Time Crypto Tax Services

Blockchain5 days ago

IG Prime Integrates Bloomberg’s Execution Management System EMSX

Blockchain5 days ago

September 2016 All Over Again: Number Of Bitcoin Whales Shatters Record Highs Following Recent Price Rally

Blockchain5 days ago

Projects driving cryptocurrency adoption

Blockchain5 days ago

Bitcoin and Cryptocurrency Market Analysis – 26.10.2020

Blockchain5 days ago

Daniel Masters is for blockchain against banking

Blockchain5 days ago

Chainlink Rejected At Key Mathematical Level, But Geometry Points To Upside

Blockchain5 days ago

Crypto trust and security issues adamant despite blockchain adoption

Blockchain8 hours ago

Decentralized Horror: Roundup of the Year’s DeFi Nightmares

Home14 hours ago

TRAMS DEX Propels Global Adoption of DeFi with Automated Market Maker (AMM) protocol

Blockchain5 days ago

Ripple CEO Disagrees With Coinbase’s Apolitical Policies: Report

Blockchain3 days ago

Radix raises $12.7M to support its layer-one DeFi blockchain protocol

Blockchain2 days ago

Crypto Platform Harvest Finance Loses More Than $20 Million

Blockchain2 days ago

Over 86% of Yearn Finance’s YFI Addresses Are Currently In Loss

Blockchain2 days ago

Atari Chief: ‘I’m a Big Supporter of the Blockchain’

Blockchain5 days ago

Why Wyoming’s Governor Supports the State’s Crypto Banking Law

Blockchain2 days ago

Litecoin, IOTA, Synthetix Price Analysis: 29 October

Blockchain2 days ago

Eka to Digitalize Supply Chain for Commodity and Raw Material Business

Blockchain5 days ago

$29 Million in Bitcoin Seized From Dutch Dark Web Money Launderers

Blockchain2 days ago

Cardano long-term Price Analysis: 29 October

Blockchain2 days ago

Binance Might Delist Many Low-Volume Coins Soon, CZ Hints

Blockchain5 days ago

Blockchain tracking mangoes from farm to supermarket

Blockchain5 days ago

Market Wrap: Bitcoin Falls to $12.7K as Global Equities Falter; Ethereum Fees Continue to Drop

Blockchain5 days ago

Seven Japanese Firms Deploy Blockchain To Digitize Trade Paperwork

Blockchain5 days ago

Central Bank of Banks BIS to Trial Digital Currency by Year’s End

Blockchain5 days ago

Monero Takes YTD Gain To 200%, Reaching 2-Year High

Trending