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Bitcoin cash mining. How to mine Bitcoin Cash explained.

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Bitcoin cash price is holding the $500 support. BCH/USD may exchange over the $535 resistance to test the $555 resistance in the close term.

A step by step procedure in order to initiate Bitcoin Cash mining.

Intro

Due to the scalability issues with respect to Bitcoin, a number of hard forks were initiated. According to estimates, there are approximately more than 30 various hard forks of Bitcoin. As a result of which, a number of cryptocurrency coins proved to become a partial alternative for Bitcoin, but it is clearly evident that no cryptocurrency coin has been able to reach anywhere near Bitcoin too. Due to the improvements in Bitcoin, these forks have also been widely accepted by the cryptocurrency community. However, apart from cryptocurrency investments and day trading, there are a number of other methods to earn profits too. Cryptocurrency Mining is one such method. It is a process of solving complex mathematical problems by the Brute Force computations in order to add a block of transactions to the blockchain. Let us understand Bitcoin Cash Mining and how it works.

Bitcoin Cash mining

Bitcoin Cash was originated in August 2017 as a Bitcoin fork, which basically increased the block size in order to compensate more number of transactions and indirectly increasing the overall efficiency. This particular cryptocurrency aims to replace most popular forms of digital payment which is PayPal and VISA. The current block reward for Bitcoin cash mining is around 12.5 BCH along with the transaction fees of all the transactions within that block is also received by the miner.

 

Let us all understand the prerequisites and the process of Bitcoin cash mining.  

1. It is automatically understood that Bitcoin cash mining requires some kind of hardware equipments. Therefore, a huge amount of initial investment is required in this process of Bitcoin cash mining. Hence and needs to calculate the profits that can be extracted from the mining process. There are a number of online Bitcoin cash mining profitability calculator available in the market. they can effectively be used in order to optimize the profits or for the user to experience reality, with respect to his Bitcoin cash mining.  However, it is highly crucial that the profitability calculator also considers the cost of the hardware pieces of equipment along with the electricity rates of the geographical location.

 

2. The difference must be kept in mind that in the case of Bitcoin, the block size used to be 1MB, but in the case of Bitcoin cash mining, the block size is 8 times bigger. Therefore more amount of calculation is required which would, in turn, consume a huge amount of electricities. Therefore one needs to assure themselves about the initiative of Bitcoin cash mining.

 

3. Once the miner has a clear understanding of Bitcoin Cash mining, he or she needs a Bitcoin Cash wallet in order to store the profits that they would be availing from the process. it is highly preferred that the user chooses to buy a hardware or a paper wallet over the web-based wallet, as they are one of the most secure forms of wallet.

 

4. The next step is to take a call between mining solely or to join the Bitcoin Cash mining pool. There are a number of consequences with respect to both the decisions. If the user wishes to keep all the block reward to himself then mining solely would be a preferred option but there are lesser chances of extracting profits from this method. On the other hand, if he chooses to join a Bitcoin Cash mining pool then the profit gets distributed among the members but the chances or probability of solving the complex mathematical problem is higher in this case.

 

5. Bitcoin cash mining completely on their own requires expensive mining equipment but joining a mining pool also has its downsides.  One must do an effective background check on the mining pool that they are looking forward to joining, as many of them turn out to be fake. the users also need to extensively go through the list of terms and conditions and most importantly their payout structure.

 

6. Even Bitcoin cash mining uses Proof of Work consensus mechanism. Therefore they cannot be mined on simple processing devices as a consequence of which, Application Specific Integrated Circuits have come into the picture.

 

7. Some of the most popular Bitcoin Cash mining pools available in the industry are Bitcoin.com, BTC.com, F2Pool, ViaBTC, BitClub, BTC.top, AntPool, etc.

 

Once the whole setup is ready, Bitcoin Cash mining process is initiated and the respective amount of reward is reflected in their cryptocurrency wallet.

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Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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JPMorgan expanding itself into the blockchain and crypto space

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JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

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Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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