Despite the fact that Toncoin uses a blockchain operating in the Proof of Stake consensus, from the average miner’s side it looks as if it is using the Proof of Work protocol. This is because the initial 5 billion coins have been transferred to the “Proof of Stake Giver” smart contract. This smart contract distributes coins to miners according to their computing power in the darkcoin algorithm. So it is not a classic mining that generates new blocks attached to the chain, but an mining rig strongmen competition.

It is worth noting that the darkcoin algorithm practically does not burden the memory subsystem of graphics cards. This means that users of cards with high-bandwidth GDDR6X memory do not have to worry about thermal impact due to the use of algorithms that perform intensive activities using the memory subsystem. This is especially important in the case of RTX 3080, RTX3080Ti and RTX3090 cards, which have notorious problems with ensuring adequate heat dissipation from GDDR6X modules.

Moving on to the merits, our observations on Dual Mining ETH / ETC + TON:

We are mining two coins at the same time, ETH and TON. It is a value in itself

Our revenues will be higher and the investment will be more diversified (enriched with TON mining)

Low hardware requirements – 4GB graphics cards are enough to be able to mine ETC + TON

Significantly increased strain put on the equipment – on average 10-20% higher energy consumption, which translates into a significant impact on thermals and acoustics.

More TON, less ETH – the first tests show a slight decrease in ETH yield, so DUAL mining in this case is a change from one crypto to another, something for something, it is not a pure bonus.

With the high cost of electricity, the benefits may not be sufficient. ETH solo mining could turn out to be more profitable.

Some graphics card models may fail – especially RTX models with LHR, for them ETH + TON operation may just be a path to early retirement

Very dynamic increase in the difficulty of mining TON, if the trend continues, the benefits will soon be too small to compensate for the cost of accelerated wear and tear of the equipment.

Entering ETH + TON Dual mining definitely requires an in-depth profit and loss analysis, you have to answer the question whether the increased profits will compensate for the losses in the form of accelerated equipment wear and increased energy costs. For some models of graphics cards there is a green light for some unfortunately NO

We attach a video from our YouTube channel showing tests on selected mining rigs using the Zetos App.

Author: Marcin Żywica from ŻET Technologies

Miner, founder of ŻET Technologies, a company                                                                                  designing and manufacturing advanced crytpo miners.                                                                          ŻET Technologies provides computing power for blockchain                                                                  networks, creates technology for 21st century business.

The post DUAL Mining ETH+TON first appeared on ŻET Technologies.

What is cryptocurrency mining?

As an introduction, we’ll focus on the leading Proof of Work consensus for most well-known cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Monero, Dash, and Zcash. In order for a cryptocurrencies network to function properly and provide its users with all functionalities, it is necessary to put the computing power to work. Thanks to this calculation, all registered transactions will be validated (verified). In other words, every cryptocurrency user will have absolute certainty that what has been saved in the blockchain is confirmed and verified for correctness.

In order for this model to work, an incentive for owners of computing power in the form of remuneration is needed. Remuneration is implemented in two ways: the first is the reward in the form of receiving coins generated through the cryptocurrency protocol and this is the main form of remuneration for digital miners. The second form is the network fee for each transaction you have to pay for adding the transaction to the block chain. The second form of remuneration is at the moment less significant, although over time this state of affairs will change. As the number of users increases, the number of transactions on the network will increase. Ultimately, transaction fees will be the only form of remuneration for miners for their services.

This is very important because most cryptocurrencies have a maximum number of coins recorded in their protocol, after which they will not be able to be generated further. In this way, we achieve network integrity, both cryptocurrency users and miners meet their expectations: the user feels calm and confident that his transaction will reach the recipient safely, on the other hand miners receive remuneration for their services of securing network.

Who can become a miner?

The answer to this question is as follows: anyone who has computing power can become a miner. Computing power can be understood as a smartphone or laptop, it does not have to be a highly specialized computing server. Another thing is how many computing units we will have, there is a definite advantage in favor of specialized equipment. However, even the most ordinary phone can connect to the cryptocurrency network as long as the appropriate software is installed. Such ease of becoming a miner is a practical expression of decentralization – a feature inscribed in the DNA of cryptocurrencies.

The more people make the computing power available, the more distributed and decentralized the network becomes, and at the same time stronger and more resistant to all dangers. It is not difficult to imagine a situation in which, as a result of a failure or deliberate operation, cryptocurrency miners from a specific part of the world will be temporarily disconnected from the network. However, it is much harder to imagine that such a phenomenon can be carried out for the entire globe. As long as at least one copy of the entire history of the blockchain chain is available on the network, cryptocurrency can exist and work.

An extremely important issue arises here – the so-called bottleneck. These are elements of the network architecture that are particularly susceptible to destabilization attempts. As a consequence, the paralysis of these elements is felt throughout the network by each user individually. In the perfect network, the nodes that make up the given network should be distributed as evenly as possible. The purpouse is to eliminate all weak links from the network structure and design the architecture in such a way that there are as few bottlenecks as possible. In this way, we come to the question of what role cryptocurrency mines perform.

Why is cryptocurrency mining so important?

For the most recognizable cryptocurrencies such as Bitcoin or Etheruem, the total computing power is calculated in hundreds of thousands of devices. Specialized cryptocurrency farms with hundreds or even thousands of devices are created for this purpose. If a miner wants to receive regular remuneration and does not have a significant amount of computing power, he should usually join the mining pool, which brings miners together. In this way, the mining pool combines the power of individual miners, thanks to which it is more often rewarded by the network, and then distributes remuneration according to the shares sent by individual miners.

To better illustrate this mechanism, a miner with one small device in the Bitcoin network can wait up to 5-10 years for the first salary. In the mining pool where he cooperates with other miners, this time is reduced to several hours. Miners choose mining pools that guarantee frequent payments. It is worth noting that the difference concerns only the frequency of withdrawals, not their size. A large mining pool will reward a miner contributing a specific hashpower exactly the same reward as a smaller mine. The only difference will be that the larger mining pool will pay more often, and the smaller one will do it at a lower frequency, but with a larger amount of coins.

Here one of the most fascinating features of cryptocurrencies is revealed – the ability to self-regulate. The work will be rewarded with an adequate payment. In this perspective, Proof-of-Work implements one of the fundamental principles of cryptocurrencies – despite the lack of supervision of institutions and third parties, it allows to guarantee fair and reliable rules for using the network. On the other hand, this raises a problem of the distribution of computing power, which manifests itself in the centralization of computing power. The optimal distribution of network power is one in which there are 20 mining pools controlling 5% of the network power each. In this way, computing power is distributed over a large number of mining pools of balanced size.

How does this apply to real world?

In practice, it is difficult to identify any cryptocurrency with such a structure. Usually 3-4 mining pools control 70-80% of the network. This reduces security and poses threats to the functioning of cryptocurrencies. Indirectly, this also translates into their value. Increased centralization is a powerful threat to the entire existence of cryptocurrencies. That is why it is very important to maximally decentralize cryptocurrency networks.

It is good practise to check in the block explorer of a given cryptocurrency what the network structure is – whether by chance there is no mining pool that controls over 50% of the network’s hashpower, or whether there are two or three mining mines that control over 50%. These are natural bottlenecks. It is also worth monitoring other network statistics and checking which mining pools make their nodes available to the network in what quantities and in what condition. This way you can also learn about the attitude of mining pools operators to given cryptocurrency.

There are mines that explicitly declare their willingness to derive income from the commission charged to miners for their services. The development of cryptocurrency is not in their area of interest. Sometimes there is a bizarre situation, in which the creators of cryptocurrencies are not able to implement improvements to the protocol due to the fact that 2-3 mines controlling most networks block such update. It is very good to check how a given mine has behaved in the past and whether its vision is consistent with yours. In this way, we will avoid the situation when we unknowingly support solutions that are unfavorable to the interest of the project.

Author: Marcin Żywica from ŻET Technologies

Miner, founder of ŻET Technologies, a company                                                                                  designing and manufacturing advanced crytpo miners.                                                                          ŻET Technologies provides computing power for blockchain                                                                  networks, creates technology for 21st century business.

The post Crypto Mining using Proof of Work method – introduction first appeared on ŻET Technologies.

Below are examples of our projects:

Graphic cards:

a) all AMD rx 3xx, 4xx and 5xx models – example: 6x rx 580 180 Mh / s and 650W (!) 

b) RX 5700 and RX 5700 XT – example: 6x RX 5700 302 Mh / s and 800W (!) 

c) Nvdia GTX 1060, 1070, 1080 – example: 6x gtx1070Ti 195 Mh / s and 750W (!) 

d) Nvdia RTX 2060, 2070, 2080

BTC miner:

a) Antminer s9, s17, z11, other example: s9 10 Th / s and 750W (!) 

Tell us what equipment you have and we’ll get the most out of it.

The post Maintenance services first appeared on ŻET Technologies.

ZETOS is our proprietary software for mining and monitoring cryptocurrencies.

The post ZetOS – mining OS first appeared on ŻET Technologies.

It’s hot not only outside, but crypto charts are hot also, we can confidently talk about summer fever!

After the first signal was given by the irreplaceable Bitcoin, his younger brothers intend to follow him.

We are pleased, in particular, that many mineable coins have chosen such a goal! 

On this occasion, we have prepared a new version of the ZETOS App, with the latest and best mining speeds. Faster speeds will be available at least:

For Rx AMD graphic cards:
Ethereum +10%

For GTV Nvidia graphics cards:
Zcoin 
Grin 
Ethereum
Beam
Raven

In addition, several new projects:
BitCash (GTX)
Sumo (Rx)
SIN (Gtx)

The integration process can be done remotely or we just need your hard disk on which we will record the software designed for your servers – optimization for free!

Order now the ZETOS App!

The post ZETOS App – Major update first appeared on ŻET Technologies.

ZET Technologies office

Some say our industry is a state of mind. Well, something is probably the case, it is difficult to indicate the field in which so much happened in 3 years. And we feel that the last word has not yet been spoken.

A short summary of the historical prices of Bitcoin and Ethereum – two cryptocurrencies with which we are closely associated; prices at the beginning of the adventure (April 2016), price at ATH (December 2017), current price (April 2019). A real rollercoaster!

Bitcoin

April 2016 – 416 USD

December 2017 – 19 623 USD

April 2019 – 5187 USD

Ethereum

April 2016 -10,32 USD

December 2017 – 1448 USD

April 2019 – 177,81 USD

Thank you to our community, there is almost 4,000 of us on the fanpage and all enthusiasts of distributed registers who love computing power. HODL.

On this occasion, by the end of the week, all computing servers -5% (GPU, ASIC, FPGA), and for services – 10% (repair, service, maintenance, software, masternode, server optimization).

We intend to stand at the mining post for the next long and electrifying years. We feel that the most interesting is just ahead of us.

The post Third Birthday of ZET Technologies! first appeared on ŻET Technologies.