DigiByte is more than a faster digital currency. It is an innovative blockchain that can be used for digital assets, smart contracts, decentralized applications and secure authentication.
05-17 18:06 - 'I'd recommend spending some time looking into bitcoins hashing algorithm. Servers and bandwidth aren't indicative of mining capability and you most likely will be earning dust. / Will probably get downvoted for recommendin...' by /u/AntiPoopMatter removed from /r/Bitcoin within 0-5min
''' I'd recommend spending some time looking into bitcoins hashing algorithm. Servers and bandwidth aren't indicative of mining capability and you most likely will be earning dust. Will probably get downvoted for recommending this but you may want to look into mining altcoins to dump for BTC. With your hardware your best bet is an alt with a more cpu friendly mining algo. Good luck with everything! ''' Context Link Go1dfish undelete link unreddit undelete link Author: AntiPoopMatter
Multi apartment clustered cryptocurrency mining rig
So you’ve probably just heard all your classes are online. And now you’re trying to sublet your apartment but no one’s gonna take it. So now you’re gonna be paying at least $1000/month for an empty apartment. I have a proposal that can reduce that cost and possibly turn a profit. Firstly, we have a very high risk credit market on our hands. The Federal Reserve has been pumping money into the economy and at some point the US dollar will have to inflate while growth stagnates (aka stagflation). During stagflationary periods in the past the price of non-fiat currencies like gold or silver has skyrocketed. Recently cryptocurrencies have emerged with the same general economic properties of such commodities. Therefore we may see an increase in their values as the Fed keeps pumping more money into the economy. As of now in order to generate enough money per month to pay off rent in South Campus Commons, each apartment would need a Bitcoin rig capable of generating ~2200 TH/s (since you don’t pay for electricity). For the Varsity and View this might have to be higher considering the cost of electricity. This is definitely possible with new ASIC chips that are solely built for the purpose of running Bitcoin hashing algorithms. For other cryptocurrencies (Ethereum, Litecoin, Dogecoin), these rates may be different. But like any good portfolio manager, diversifying our investments will ensure we have a profitable outcome. If enough students come together to construct a Bitcoin mining rig in their apartments we could essentially create a multi apartment clustered miner to be able to generate Bitcoin. On top of that, because campus server resources will be diminished due to online classes, we can in turn utilize that computing power to help mine such cryptocurrencies. As a result we won’t have to find people to sublet our apartments to and won’t have to worry about the financial undertakings associated with it. TL;DR: Corona collectively fucked everyone in the ass and we should build a massive Bitcoin rig to pay off our rent.
It takes an estimated seven nuclear plants to power our bitcoin mining. Turns out that plugging a bunch of computers into our electrical grid that do nothing but draw current and hash through algorithms has had some negative environmental impacts. Global bitcoin mining industry uses 7.46 GW.
It takes an estimated seven nuclear plants to power our bitcoin mining. Turns out that plugging a bunch of computers into our electrical grid that do nothing but draw current and hash through algorithms has had some negative environmental impacts. Global bitcoin mining industry uses 7.46 GW.
Back to Basics - Hash Rate - How is it determined?
Ok...So I know what the Bitcoin hash algorithm is, and I know how the difficulty goes up, and I understand the concept of the nonce. But what I don't understand is how do we know the current instantaneous hash rate of the network. How is that determined?
It takes an estimated seven nuclear plants to power our bitcoin mining. Turns out that plugging a bunch of computers into our electrical grid that do nothing but draw current and hash through algorithms has had some negative environmental impacts. Global bitcoin mining industry uses 7.46 GW.
It takes an estimated seven nuclear plants to power our bitcoin mining. Turns out that plugging a bunch of computers into our electrical grid that do nothing but draw current and hash through algorithms has had some negative environmental impacts. Global bitcoin mining industry uses 7.46 GW.
It takes an estimated seven nuclear plants to power our bitcoin mining. Turns out that plugging a bunch of computers into our electrical grid that do nothing but draw current and hash through algorithms has had some negative environmental impacts. Global bitcoin mining industry uses 7.46 GW.
One of the ideas which stuck with me is hashing and its power to verify the integrity of data securely. It inspired this visualization project entitled Cloud Hashes. Since Bitcoin uses the SHA-256 algorithm, my artwork visualizes and references many elements of this hash function.
If SHA256 became unsecure, how would Bitcoin move to a different hashing algorithm?
From what I understand SHA256 is an incredibly secure algorithm that underpins much of the Internet's security, not just Bitcoin. However, surely with ever increasing computing power there will come a time when it is possible to break / find a flaw in / crack? When this happens, how would Bitcoin move to a different and more secure algorithm? Thanks for any help and I'm sorry if I don't understand properly. Edit: I'm well aware that in the eventuality SHA256 breaks down:
We're likely a very long time away
A lot of things would go to shit, not just Bitcoin
It was more just asking how, theoretically, a decentralised system such as Bitcoin would agree on and adopt a new system.
How exactly would Ethereum scale on top of Bitcoin Cash if they're separate coins with different hashing algorithms, and completely different confirmations times and chains?
Also is scaling ethereum on top of Bitcoin Cash still in the realm of possibility? I don't know if Vitalik is still considering it...
How would you describe the general consensus about bitcoins hashing algorithm. Will never be changed, does not need to be changed now, or should be changed.
How do you personally feel about bitcoins hashing algorithms longevity
Are there any other changes you'd consider in the mining process? Block time, block size? "master nodes"
I have started reading Bitcoin and based from my quick search, the mathematical problem endpoints are actually solving is in reality a brute force of a hashing algorithm. In theory, if someone is saving the results of the brute force attack, they can actually build a table out of it for fast hash reversals right (I believe this is called a rainbow table, please correct me if I am wrong)? Therefore, is it correct to say that Bitcoin is actually helping people create rainbow tables? Is it also correct to say that it increases the pace in which hashing algorithms are being marked as insecure? Thanks.
Hashrate of Altera's SHA256 "megafunction" on Hardcopy FPGAs
I'm an electrical engineer by qualification but I've spent the past 20 years in software development, so I'm a bit rusty on the eleceng side these days. But I still know enough to get myself into trouble :) I've been looking into available SHA256 algorithms and found a datasheet on Altera's SHA256 "megafunction" here. It's a SHA256 implementation that can be used in ASIC and FPGA designs. The datasheet mentions that the processing of one 512-bit block is performed in 66 clock cycles and the bit-rate achieved is 7.75Mbps / MHz. There's a table showing throughput on various Altera chips. The Hardcopy HC210F484C runs at a maximum clock frequency of 152MHz, permitting a throughput of 1152Mbps with the algorithm. Given the Bitcoin hashing algorithm is a double SHA256 operation, it would appear that this chip can deliver a hashing rate of approximately 576Mh/s. Would this be correct? A very quick check on the price of these chips here shows they're anywhere from USD$0.01 to USD$9.90, depending on quantity. If the above is all true and I haven't made any mistakes, this could make for a very cheap mining rig. Can anyone verify my analysis or have I made huge mistakes? UPDATE: Hashrate is 152MHz / (2*66) cycles = 1.15Mh/s. Thanks to deeper-blue and MaybeJustNothing.
A core building block of the Bitcoin protocol is the Hashcash concept. Bitcoin uses Hashcash to provide security from malicious alterations of the Blockchain, by imposing a cost for alteration that a miner must hope to recoup through rewards given for cooperation. Hashcash is basically a way to publicly prove that energy was spent on solving an arbitrary solution, using a hashing algorithm. Hashing algorithms are cryptographic programs that take a set of data as an input and produce a one way hash signature version of that data as an output. In Hashcash a problem is designed where the target hash value is known but very difficult to derive, and very easy to verify In Bitcoin the difficulty of the Hashcash problem is varied over time depending on the recent history of solution times, targeting a ten minute solution on average.
Creation of Hashcash
The Hashcash concept was first proposed by cryptographer Adam Back in 1997 as a part of his work providing an anonymous email service to be used to promote free speech. Back came up with the Hashcash concept as a way to help prevent abuse by giving it an easily verifiable cost. Adam Back realized that the concept could be useful beyond his own service, and worked to promote the concept to be used for other email services to prevent spam, or for other situations where Sybil resistant rate limiting could be useful. Over time Hashcash became widely known as an innovative idea, and SpamAssassin, Hotmail, Outlook, and I2P all included versions of the concept in their software. Hashcash was also seen by crypto-anarchists as having the potential to be used in a decentralized money application that was long proposed, by Wei Dai and others, but never realized. Hal Finney made Hashcash a key component of his proposed digital currency, in a process that was very close to what would eventually become Bitcoin.
Hashing Algorithm
Hashcash as originally proposed used the SHA1 hashing algorithm, but many hashing algorithms are suitable for the concept. In Bitcoin's implement of Hashcash, Satoshi Nakamoto opted to use the newer SHA256 algorithm instead of SHA1. At that time SHA1 had been shown to have a small design flaw in which the difficulty of creating multiple identical results was underestimated by a large degree. Bitcoin actually uses two cycles of SHA256 hashing instead of the standard single hash, this is thought to be because that would have been a way to reduce the impact of the design flaw in SHA1, had it been selected. Since the time that SHA256 was chosen as Bitcoin's hashing algorithm, a newer version of the algorithm called SHA3 has been designed to directly address the issue found in SHA1 and to be used as a comprehensive upgrade for SHA256. It's possible at some point Bitcoin would upgrade to SHA3, however the benefits from the upgrade would be minimal. Even SHA1 would still work for Bitcoin's purposes had it been selected. The difficulties involved in modifying the network consensus to support SHA3 and limited benefit means that SHA256 may never be replaced.
ASIC Resistance
After Bitcoin started to rise in value, it started to become understood that the most efficient way to produce the SHA256 hashes would be using equipment that was specially designed to hash very quickly and efficiently, called ASICs. Since a widely distributed hashing network is seen as desirable for Bitcoin and many existing miners resented the imminent arrival of a new much more efficient competitor, it was proposed that the Bitcoin hashing algorithm be modified to one that would prevent the formation of extremely expensive but vastly more powerful ASICs. Many in the Bitcoin community turned to the popular scrypt hashing algorithm, which was designed to perform key stretching on passwords to prevent brute forcing. Unfortunately, key problems with this plan emerged. The scrypt algorithm is not designed to be fast, it is designed to be slow, meaning verification of the proof of work is also slow, unlike SHA which is very fast. A major reason scrypt was chosen was due to the perception that ASICs could not be produced for algorithms with high memory requirements. But in actuality scrypt does not fully require its specified memory target, it's simply the most optimal solution. Because of this, an ASIC could be designed with low memory use that simply brute forces its way past the memory requirement. Eventually alternative coins were created to put these theories to the test. ASICs were in fact created for the scrypt proof of work, and the alternative concept of using scrypt failed to gain mass appeal. Over time it became more well understood that no known algorithm can be constructed to be truly resistant to ASIC creation. Given that constraint, the prevailing wisdom is that an optimal end-game for Bitcoin hashing would be to commoditize ASICs as much as possible, in order to gain the desired distributed hashing network that is seen as the ideal.
Hashing in Bitcoin
When performing a Hashcash challenge, all hashers may be essentially trying to find the same solution. To avoid all hashers starting at the same places, Bitcoin's hashing algorithm uses the reward Bitcoin address as a randomizer: every miner essentially starts mining at his own address which is a random number. Bitcoin hashing also includes a counter to increment as hashes are attempted. This counter may be frequently reset as large numbers of hashes are tried, it resets against a random number called an extraNonce to create a new results space to search. The counter should also be reset after successfully finding a block. Satoshi Nakamoto's own blocks are linked together because he did not reset his counter, allowing easy correlation. The counters are also reset to obscure the number of times the individual miner had to iterate to find the solution, to hide his hashing power.
10-17 18:24 - 'Look into monero and the upcoming changes to the hashing algorithm. If you have a laptop or pc then you could actually make a profit mining monero come the end of this month. Please remember that "if its not your key, its not...' by /u/LePfeiff removed from /r/Bitcoin within 63-73min
''' Look into monero and the upcoming changes to the hashing algorithm. If you have a laptop or pc then you could actually make a profit mining monero come the end of this month. Please remember that "if its not your key, its not your coin." This app explicitly says on the play store "you are offered in a bitcoin miner game that allows you to feel like a real crypto investor" it doesnt even claim to be real, please dont hold out hope for this app to make you money. ''' Context Link Go1dfish undelete link unreddit undelete link Author: LePfeiff
Bitcoin/Litecoin hash Extractor - instantly This page will extract the information needed from your Bitcoin and Litecoin wallet to convert it to hashes, also known as Bitcoin2john. Select and Upload your Bitcoin Core or Litecoin wallet (.dat): Secure Hash Algorithm 1: The Secure Hash Algorithm 1 (SHA-1) is a cryptographic computer security algorithm. It was created by the US National Security Agency in 1995, after the SHA-0 algorithm in 1993, and it is part of the Digital Signature Algorithm or the Digital Signature Standard (DSS). A hash is the cryptographic result of a Bitcoin hash algorithm. Every such algorithm has distinct features, including the important feature that each one produces unique hashes. Furthermore, these Bitcoin has algorithms can only be solved to find the ultimate hash output, they can not be reversed to calculate the initial raw data. In the bitcoin protocol, hash functions are part of the block hashing algorithm which is used to write new transactions into the blockchain through the mining process. Bitcoin Algorithm Explained. Founded by a pseudonymous individual or group, Bitcoin is a peer-to-peer digital currency that is designed to serve as a medium of exchange for the purchase of goods and services. With Bitcoin, individuals are able to execute cross-border digital payments at virtually no cost, all without having to involve any financial intermediaries.
The SHA-256 algorithm is used to mine bitcoin, It is worth noting SHA-256 is part of the SHA-2 cryptographic hash(SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions designed ... This video explains the concept of hashing and SHA-256 for newbies. For more information visit http://99bitcoins.com/what-is-bitcoin-hash/ This video explains the concept of hashing and SHA-256 for newbies. For the complete text guide visit: http://bit.ly/2DmxbJj Join our 7-day Bitcoin crash cou... What is Hashing on the Blockchain? https://blockgeeks.com/guides/what-is-hashing/ Cryptographic hashing is a key feature in the security and efficiency of bl... Hash Pointers and Data Structures - Bitcoin and Cryptocurrency Technologies Part 1 - Introduction to Crypto and Cryptocurrencies Learn about cryptographic building blocks ("primitives") and reason ...
