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Within the cryptocurrency community, there has been much discussion on the heated topic of selfish mining. Basically, selfish mining is a tactic used by a miner or group of miners to boost earnings by taking advantage of flaws in the mining procedure. Some believe it is used for the best interests of the miners; however, some claim that it is a destructive force that negatively affects the crypto-mining industry.
This blog aims to provide you with a detailed view of selfish mining, its working, potential threats against the blockchain and effects on the mining ecosystem.
Withholding or postponing the release of new blocks on purpose in order to obtain a competitive edge over other miners is known as selfish mining. The usual procedure for a miner to add a new block to their copy of the blockchain is to broadcast it to the network.
It can be defined simply as the state in which a single miner or group of miners controls more than half of the overall hash rate, enabling them to influence the blockchain to their benefit. With selfish mining, the miner can decide to keep the block a secret and carry on mining on top of it to extend the chain. As a result, other miners’ work on shorter chains can be declared invalid, and this longer chain can be broadcast to the network.
Miners execute selfish mining to maximize their income, which involves keeping newly found blocks hidden from the rest of the network and only revealing them once another miner has figured out the puzzle for the next block. It increases the selfish miners’ likelihood of mining the next block by giving them a head start on solving the next block.
Goldshell has recently announced on Twitter the release of a new Kaspa miner, which is an ideal choice for home mining. Due to a significant surge in mining Kaspa, it has become one of the most favourable coins, and it is now mined in mass.
Let’s dive into the all-new Kaspa miner as we analyze its specifications to predict how it would perform in the landscape of Kaspa mining.
Specifications of the Goldshell KA Box Miner
Goldshell KA Box Miner is designed ideally for mining Kaspa(KAS) at home. It is small in size and lightweight, too, which makes the KA Box Miner the most comfortable to operate from home.
With its high hash rate of 1.18 Th/s and minimal power consumption at a rate of 400 W, the KA Box miner is the perfect home miner.
It weighs 2000 g and has a dimension of 178 x 150 x 84 mm, which reflects on its minimal yet exquisite design.
The input voltage shall ideally be between 100-240 V, and the temperature conditions shall be between 0 – 35 degrees Celsius. When the prerequisites are maintained, the miner is sure to bring more significant results and longevity.
With the noise level reaching up to 35 dB, the KA box miner is undoubtedly the right choice for miners mining Kaspa from home.
Equihash was developed and introduced back in 2016. The intention behind the creation of this mining algorithm was to rectify some of the drawbacks of previous proof-of-work algorithms. As a result, it has emerged as the preferred mining algorithm for a number of renowned cryptocurrencies.
We will understand the Equihash mining algorithm in-depth and go over its advantages, working and minable coins for ZCash investors and miners in this blog. Let’s get started!
The generalized birthday problem is the foundation of the asymmetric memory-oriented proof-of-work mining algorithm known as Equihash, which is used in computer science and cryptography. It makes it possible for miners to mine cryptocurrency using a regular PC.
Scientists created it to shorten the amount of time needed to complete the mining process. Because it enables regular users to divide the workload by primarily figuring out how much proof-of-work mining to do on smaller operational systems. It connects the conventional SHA256 mining with numerous advantages, using Zcash as the perfect example of how to apply Equihash.
Ever since its launch, Bitcoin—the original cryptocurrency—has drawn the interest of both supporters and critics. However, the main characteristic that distinguishes Bitcoin from other cryptocurrencies is its limited supply. There is a limit of 21 million Bitcoins that will ever be in circulation.
An interesting question is brought up as the supply gets closer to this cap and mining keeps going on: What happens to Bitcoin once all 21 million of it are mined? In this blog post, we will explore the possible outcomes and aftermath of this milestone
The process of creating new Bitcoins and adding transactions to the blockchain—a public ledger—is called Bitcoin mining. It is essential to the functioning of the Bitcoin network as well as to keep the security of the Bitcoin network. New bitcoins are created via mining, which also verifies fresh transactions against the network that holds Bitcoin.
On the Bitcoin network, transactions are computationally validated before being added to the blockchain ledger. To confirm that transaction blocks generated on the decentralized platform are correct, solving intricate cryptographic hash puzzles is a requirement.
After receiving a set of transaction data, miners apply a cryptographic algorithm to produce a unique hash. The hash detects manipulation when any detail is altered. Every block contains the hash of the previous block, so changes are easily visible.
The KHeavyHash algorithm is emerging as a popular algorithm with time. The coin associated with it is Kaspa(KAS), which is the fastest proof-of-work coin that exists.
This blog is a comprehensive guide to the custom-built kHeavyhash algorithm that aims to provide you with a detailed view of its working, overview, and minable coin (Kaspa).
KHeavyhash algorithm Explained
A specially created algorithm called KHeavyhash was developed for Kaspa (KAS) mining. In the KHeavyhash process, matrix multiplication is performed between two standard Keccak hashes or SHA-3. One popular mining algorithm that uses little memory is KHeavyhash. It permits Kaspa and other cryptocurrencies that utilize memory-intensive mining algorithms to be mined twice.
The design of KHeavyhash mining ensures that it does not require significant GPU memory usage, so mining this cryptocurrency can be accomplished even with GPUs with a lesser amount of memory, extending the range of compatible mining hardware. Compared to many other cryptocurrencies, Kaspa has a much higher frequency of blocks due to its speedy block generation rate—a new block is created every second.
However, as of the current industry standards, GPU mining for Kaspa is no longer practical. KHeavyhash mining typically uses ASIC hardware for mining operations now and delivers profitable results when mined with ASIC.
SHA-256 is the most used algorithm which has gained popularity around the world due to the exceptional features that it possesses. It has a distinctive place in the ASIC mining industry due to the compatibility that they both share. This blog attains to provide you with a detailed analysis of the SHA-256 algorithm by unveiling each aspect related to it. You will get to know what SHA-256 is, its advantages, limitations and the applications such as data validation, storing passwords and much more.
Also, you will get to know the top minable coins with SHA-256 as we explore the coin’s current state such as the market cap, total supply, etc. Lastly, you will know how Bitcoin is different from Litecoin which is said to be gold and silver respectively when put into contrast with one another. So let’s get started!
The National Security Agency (NSA) of the United States created the Secure Hashing Algorithm (SHA) family of cryptographic hash functions. To put it simply, a hash function is a mathematical algorithm that accepts an input (any type of data, such as a file or password) and outputs the hash value, also known as the digest, as a fixed-length string of characters.
SHA-256 came in replacement for the once-widely used SHA-1 algorithm. There were flaws detected in its code, and was insecure. As the technology developed with time, it became difficult for attackers to take advantage of the SHA-256 algorithm and threaten the integrity of hashed data.
The hash output’s bit size is denoted by SHA-256. It produces a hash value that is 256 bits long, offering a substantially wider search space than the previous version(SHA-1). This depicts that it is computationally impossible to figure out the original input from the hash value.