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Greetings. 🤗 Today we will tell you about the PYRK project and about its features.submitted by VS_community to pyrk [link] [comments]
💡 PYRK is a privacy centric cryptographic currency based on the work of Bitcoin, Dash, and Digibyte.
📌 Built for the community, we've taken some of the best features of the top utility coins to create a new coin which launched on May 12th, 2020.
⚙️ PYRK’s improvements include triple algorithm Proof of Work with Multishield difficulty adjustment, Masternodes, Private Send, Community Fund Governance, and Simple Tokens based loosely on the Color Coins protocol.
🔹 PYRK has borrowed from DASH all the best features. Fast work speed. The ability to deploy masternodes and the ease of mining, and all this at very low fees.
🔹 Multishield is a "difficulty retargeting" method to maintain the "average" block timing, by automatically changing the complexity of mining on the network.
🔹 Thanks to the PYRK’s Triple Proof-of-Work algorithm, it is possible to mine on different algorithms, including SHA256, Scrypt, and X11. Thus, it is very unlikely for a single miner to attain 100% of the hash rate of a single algorithm.
🔹 In PYRK, anonymity is the cornerstone, so we use a technology called PrivateSend, originally developed by DASH. PrivateSend decentrally mixes all your coins with strangers, giving newly generated addresses, allowing you to maximize transaction privacy.
🔹 You can run a masternode. In PYRK Masternodes are all paid from generated block rewards. The Masternode rewards start at block 10,000 and the master node network receives 20% of the block reward.
📢 Read more about the PYRK project and why it is worth investing in on our website: https://pyrk.org/
Greetings, community. 👋🏻 Today we will tell you what MultiShield is and what its features in PYRK are.submitted by VS_community to pyrk [link] [comments]
📌 What is MultiShield?
MultiShield is the advanced version of the original DigiShield. DigiShield was created specifically to protect the DigiByte project from the threat posed by multipools that inflated the price of cryptocurrency in case it was too easy to mine. It creates an asymmetric realtime difficulty adjustment, and is now even widely implemented in many other blockchain.
Mining complexity is configured separately for each algorithm, depending on the current power distribution. The complexity parameter is changed on each block. This mechanism is called MultiShield. The block generation time in the system is 15 seconds.
According to the developers, the MultiShield complexity adjustment mechanism guarantees a “fair twenty percent distribution between all five algorithms” and the detection of any “sudden influx” of computing power.
📌 What are MultiShield features in PYRK?
✅ PYRK platform uses the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining. PYRK has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier in order to maintain an approximate 90-second block timing.
✅ MultiShield adjusts after each block, rather than once every 2016 blocks (like in Bitcoin). MultiShield is designed to let the difficulty "fall" very fast, in order that the chain doesn't freeze.
✅ MultiShield was originally created to account for such wild fluctuations, so that the blockchain doesn't "freeze" when a large exodus of hash power occurs. It also means miners cannot flood a few consecutive blocks with a high amount of hash power and benefit from low difficulty, giving blocks near instantly one after another before traditional difficulty retargeting occurs.
Read more about PYRK solutions here: https://www.pyrk.org
Hello. 👋🏻 Today we will tell you about MultiShield and difficulty retargeting.submitted by VS_community to pyrk [link] [comments]
📌 In mining with the Proof-of-Work algorithm, the goal determines the complexity and, therefore, affects the time required to find a solution. As a result, logical questions arise, why is difficulty regulated, who corrects it, and how?
📌 Blocks in the blockchain are generated every n minutes. This determines the frequency of issuing the currency and the speed of settlement of transactions. It must remain constant not only for a short period, but also for many decades. The power of computers is growing rapidly and the number of mining participants is also constantly changing. Given these changes, the block generation time should remain unchanged. For this, the complexity of mining must be adjusted.
📌 For this, there is a retargeting of complexity, which occurs automatically and on each node independently. If the network finds blocks faster than every n minutes, the complexity increases (the goal decreases). If block detection is slower than expected, complexity decreases (target increases).
🛡 PYRK MultiShield solution
🔹 PYRK has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier in order to maintain an approximate 90-second block timing. Miners sometimes change between the blockchains that they mine, especially on smaller chains, in order to maximize profits. For chains that have sporadic mining bursts this can cause long periods of extremely high difficulty, which results in exceedingly long block times.
🔹 MultiShield adjusts after each block, rather than once every 2016 blocks (like originally in Bitcoin). MultiShield is designed to let the difficulty "drop" very fast, in order that the chain doesn't freeze. MultiShield was originally created to account for such wild fluctuations, so that the blockchain doesn't "freeze" when a large exodus of hash power occurs. It also means miners cannot flood a few consecutive blocks with a high amount of hash power and benefit from low difficulty, giving blocks near instantly one after another before traditional difficulty retargeting occurs.
Read more about PYRK solutions here: https://www.pyrk.org
Below are notable difficulty adjustments when hash rate fell and block times become slower for Bitcoin.submitted by theforwardbrain to Bitcoin [link] [comments]
We are 1 day 10 hours from the next difficulty adjustment. Projected difficulty adjustment is -5.61% (https://fork.lol/pow/retarget), which could indicate a small dip. However, take note that the date of last adjustment was the 5th and the 3rd halving was on the 11th, between the 5th to the 11th there was increased hashrate from miners trying to mine the final week of 12.5btc that offset the really slow block times after the halving. Therefore it will be the next difficulty adjustment after the one on the 20th that will completely reflect the slower block times after the halving. Currently the median block time taken on the 17th was around 14min (-28.5% difficulty adjustment).
For people who do not understand blockchain, basically with the Bitcoin 3rd halving, mining profitability fell for a lot of miners and they probably turned off their miners therefore the blockchain mining time became considerably slower which is reflected with slow transaction speed and higher fees as seen currently. Bitcoin sellers moving their BTC from wallet to an exchange are faced with slow transaction speed and therefore the sell pressure of BTC fell considerably which will attribute to the current price increase. There is a correlation between sell pressure and blockchain congestion (the size of the correlation is undetermined).
There is going to be a race. A race between BTC price hiking high enough to attract more miners to reduce avg block times versus the closing window of roughly 2 weeks before the next difficulty adjustment. If the price does not jump high enough, the next difficulty adjustment in the first week of June could signal a huge dip.
I am not an expert. I just did some research on the above and wanted to share with fellow Bitcoin compatriots so that we can tread with caution and not lose our shirts. I do not plan to short BTC but I will exit my BTC positions if I expect double digit negative difficulty adjustment in early June.
Bitcoin 2nd halving evidence:
2nd halving falls between the 5th and the 19th adjustment so it is only reflected on the 3rd of Aug difficulty adjustment ( -5.43%).
See the dip on the 3rd of August. Price fell from $600 to $533 about 11% drop.
Update 1:>! As of writing, I have opened a small short position on Bitcoin. Stop loss around 10k, estimated take profit around 8500. The reason is because the difficulty adjustment in the next 20 hours, even though is just -5% roughly is still significant. I direct you to look into all the difficulty adjustments in the last 2 years and you will know how rare it is. The ones I caught were all listed at the very top of the post. Since it is my first time shorting BTC, I take this as a learning opportunity so that I will have some experience to face the bigger difficulty adjustment in the first week of June. Analysis into execution, even in failure I am happy.!<
Update 2: The difficulty adjustment (DA) happened roughly 6 hours ago and the sell pressure from -6% DA did not seem to be affecting the market much. However, please take a look now at the estimation for the next DA.
On https://bitcoin.clarkmoody.com/dashboard/ it is estimated to be -25%.
On https://fork.lol/pow/retarget estimated to be -18%.
On https://www.blockchain.com/charts/median-confirmation-time the median block time for the last day was 16.8min.
My original proposition that the true DA of the halving can only be realized in the next DA stands and that it will be considerable. The increased sell pressure from that DA will be highly significant. That is why there is a race by current miners to get the BTC price up high enough to attract more miners to not have the DA drop too much.
Difficulty adjustment dates taken from https://btc.com/stats/diff
Bitcoin graph history for price movement taken from coinmarketcap.
Median confirmation time (block time) taken from https://www.blockchain.com/charts/median-confirmation-time
Credits to people who assisted the analysis:
kairepaire for pointing out faster block times between 5th-11th.
babies_eater for https://fork.lol/pow/retarget
moes_tavern_wifi for https://bitcoin.clarkmoody.com/dashboard/
Pantamis for https://diff.cryptothis.com/
Greetings, community! 👋🏻 Today we will tell you about the PYRK mining features in the unstable crypto world.submitted by VS_community to pyrk [link] [comments]
📉 The crypto market is not stable. However, unlike the stock market, the crypto market, especially individual coins, depends on the hype, rumors around them, and more. This contributes to massive purchases or sales of coins, price fluctuations, hype leads new miners, anti-hype - contributes to their outflow.
📈 Changing the number of miners affects the network load. A sudden increase in the number of miners leads to an increase in computing power, which makes mining too easy. A quick and sudden outflow of miners leads to a sharp increase in the complexity of mining.
📊 That is why PYRK decided to use the Multishield technology, originally developed by Digibyte.
🔗 Multishield is a "difficulty retargeting" method to maintain the "average" block timing, by automatically changing the complexity of mining on the network. The idea being that as there is more hash-power provided by the miners it needs to become harder and harder to find the blocks.
✔️ Pyrk has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier in order to maintain an approximate 90-second block timing. The original Bitcoin adjusts difficulty every 2016 blocks. However, MultiShield adjusts after each block, rather than once every 2016 blocks.
✔️ MultiShield is designed to drop the difficulty fast to ensure that the chain doesn't freeze. MultiShield was originally created to account for such wild fluctuations, so that the blockchain doesn't "freeze" when a large exodus of hash power occurs. It also means miners cannot flood a few consecutive blocks with a high amount of hash power and benefit from low difficulty, giving blocks near instantly one after another before traditional difficulty retargeting occurs.
Find out more about PYRK mining solutions: https://www.pyrk.org
Hello. 👋🏻 In this post, we will tell you about the similarities and differences between Bitcoin and PYRK.submitted by VS_community to pyrk [link] [comments]
PYRK is a cryptocurrency based on Bitcoin, with additional features imported from both Dash and Digibyte. Improvements include triple algorithm Proof of Work with Multishield difficulty adjustment, Masternodes, Private Send, and a Community Fund. With plans for Simple Tokens.
Similarities and differences between Bitcoin and PYRK solutions
📌 Difficulty retargeting
Due to the volatility of the crypto market, the influx and outflow of miners in the network, destabilization of the blocking, and confirmation times can occur. For this, Bitcoin uses "difficulty retargeting". PYRK uses the same principle to solve this problem. PYRK has a 90-second block timing target, meaning mathematically based on the previous blocks the "difficulty" in finding the cryptographic answer for each block will become harder or easier to maintain an approximate 90-second block timing. However, unlike Bitcoin, PYRK adjusts difficulty after each block, rather than once every 2016 blocks, thus being more flexible and stable.
Just like Bitcoin, PYRK also uses masternodes. Masternodes are all paid from generated block rewards. The Masternode rewards start at block 10,000 and the master node network receives 20% of the block reward. At block 100,000, the reward goes up to 30%, however, the collateral also goes up at block 100,000 to 2500 PYRK.
A different approach to restricting the inflation of mining is taken in Pyrk, using a 20% reduction of the supply every 200,000 blocks. This is done as opposed to 50% halving implemented by Bitcoin and thus reduces the initial shock impact of a halving event.
📌 Simple Tokens
A future improvement planned for PYRK is Simple Tokens. This is similar to the SLP (Simple Ledger Protocol) used by Bitcoin Cash. There are, however, some issues with their implementation that we would like to improve on.
Read about PYRK improvements and solutions here: https://www.pyrk.org
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MoneroV (XMV) | World's Most Private Cryptocurrency
Website : www.monerov.online
MoneroV (XMV) is a private, untraceable, finite and secure cryptocurrency fork of the Monero (XMR) blockchain. MoneroV fulfills the long overdue desire for a truly anonymous, decentralized, finite peer-to-peer electronic currency. Individuals and businesses can transact securely, reliably and anonymously with low fees using MoneroV.
MoneroV is truly anonymous and private. Sending and receiving addresses are obfuscated, as well as all amounts being transferred in all transactions. Your identity cannot be linked or traced to a transaction on the MoneroV blockchain.
Roadmap Paper: https://monerov.online/MoneroV-Roadmap.pdf
Features:Capped: MoneroV adheres to core Austrian school of economics principles by capping the total MoneroV coins that can be created, parting with Monero’s infinite coin supply structure.Secure: Decentralized peer-to-peer blockchain transaction consensus enables MoneroV to be secure and reliable.Private: MoneroV is truly anonymous and private. Sending and receiving addresses are obfuscated, as well as all amounts being transferred in all transactions. Your identity cannot be linked or traced to a transaction on the MoneroV blockchain.
How can I get MoneroV?The only way to obtain XMV is by Trade (buy/sell) at supporting exchange. MoneroV is now listed on Coin Market Cap. You can See the leading exchanges by xmv volume on CMC here.
How MoneroV is different from Monero?MoneroV has a limited supply of coins (27 Million Max) in contrast to Monero’s infinite coin supply. MoneroV will have an active development fund that would be used for rapid development and feature integration versus Monero's voluntary donation based development process. In addition, MoneroV will implement new protocols that will solve the scaling problems facing Monero and other cryptocurrencies such as Bitcoin.
When will the MoneroV wallet be released?The official MoneroV windows wallet is out, in addition to other dependencies such as the MoneroV daemon is released. Macos wallet, Macos and linux miner, Web wallet is in development will be released.
How can I join the MoneroV development team?Anyone can join the MoneroV open source project. We are looking for talented C++ & Node.js developers as well as front-end developers and DevOps engineers.
Additional info is available on our blog:https://blog.monerov.online/
Supply & Emission:
Specifications Consensus Mechanism: Proof-of-Work Genesis Date: December 16th, 2019 Block Time: 1 minute Max Supply - Capped at 27 Million XMV. Avaliable supply - Current coins supply (total emission) Block Reward: Maximum of 9 XMV per block at the mainnet start and smooth decrease until 27 million max supply will be reached. Proof of Work - Cuckarood29v (based on Cuckoo and CryptoNote) . Difficulty Retarget - Every block. Block Time - Every 1 minutes. Block Size - Dynamic. Privacy - Ring signature / stealth addresses.
Github (Repository roll-out):https://github.com/xmvdev/
Team contact:[email protected]
This initial (and maximum) target value is hard-coded in to the source code of every bitcoin node. 1 It was probably best-guess by Satoshi at what be a good starting point for a difficult-enough target that would result in a 10-minute interval between new blocks. After every 2016 blocks, each node will look at the time between the last 2016 blocks and work out if they were being mined faster ... Block time: 2 Minutes ... 1050000 . Difficulty Retarget: 2 Hours. Coinbase: 21 confirmation. Transaction: 6 confirmation. Max supply: 21 Milion. Increased Scalability. Lightning network. ... rpcmain: Project start: 2 April 2019. Ledger start: 12 June 2020. Ticker symbols used to represent bitcoin are BXC and XBC. XBC caters to BitcoinClassic's ... Since the retargeting time is in blocks, blocks must be mined in order to retarget. If a large miner could turn on a bunch of hashing power and then turn it off causing the difficulty to spike, it could take days or weeks for a single block to be mined. In an extreme scenario, it could possibly never find a block in a 100 years. See also Difficulty. The target is a 256-bit number (extremely large) that all Bitcoin clients share. The SHA-256 hash of a block's header must be lower than or equal to the current target for the block to be accepted by the network. The lower the target, the more difficult it is to generate a block.. It's important to realize that block generation is not a long, set problem (like doing a ... This means that bitcoin difficulty can also go down should the mining of blocks take longer than 2 weeks. In December 2014 this actually happened for the first time. Bitcoin is live since January 2009, so it took quite a while. Since the bitcoin difficulty went down in 2014 for the first time, this didn't happen very often again.
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After the Bitcoin (BTC) mining difficulty jumped sharply today, mining has become 20% more difficult than right before the third BTC halving in May. However,... =====(bitcoin mining)===== Bitcoin Mining Difficulty Set for a New All Time High #bitcoin cash app #bitcoin wallet #bitcoin halving 2020 Full Playlist: PL32J... Bitcoin so sicher wie nie verwahren - https://amzn.to/2JVWhkD Das Must-have für alle Bitcoin Fans - https://amzn.to/2ZfQRbp -----Mehr interessa... • Block time: 1 minute • Difficulty retarget 15 blocks • Stake Interest: 10-20% • Staking time: 60 blocks ... Bitcoin Transaction Malleability Theory In Practice Demo - Duration: 9:58. COININFO Coin Name: SpartanCoin Coin Symbol: SPN Block Time: 120 Seconds Difficulty Retarget: Every Block SpartanCoin Wallet Tutorial : https://spartancoin.ooo/tutorial/ Buy SpartanCoin and Sell ...