ALL ELECTRONEUM NODE OWNERS MUST UPDATE THEIR SOFTWARE BY BLOCK 324500 (approx. 36 hours from now – this is an URGENT UPDATE – PLEASE SHARE THIS INFORMATION)
We have an urgent software update below for anyone who runs a full Electroneum Node. If you don’t know what a node is , don’t worry! You won’t need to do anything.
We also have a VERY exciting update about an upcoming listing on a top 10 exchange.
How will I mine Electroneum after this update?
Instant Payment vendor API is open for BETA applicants.How can ETN change the world?
Please note that nothing in this message refers to MOBILE MINING – we are referring to the underlying blockchain miners.
Urgent Electroneum Node / RPC / Command Line Wallet Update
ALL ELECTRONEUM NODE OWNERS MUST UPDATE THEIR SOFTWARE BY BLOCK 324500 (approx. 36 hours from now – this is an URGENT UPDATE – PLEASE SHARE THIS INFORMATION) https://github.com/electron…/electroneum/releases/…/v184.108.40.206
It’s only been a few short days since I made a video and said “our fork went well! We’re ready for 20m Users!”.
The fork was a great success, from a technical standpoint. Unfortunately, we never got back the number of GPU miners that are needed to ensure our network runs smoothly and has stable block emission. A new phenomenon has emerged where a number of users are mining Electroneum in waves. They come on and then leave after a few hours in a coordinated manner to mine ETN in a completely selfish way. We can’t blame people for maximizing their profit, but we have not built up the amount of “hashing power” that is required to make this impossible and create the stability we need in the network.
This has left us at risk. As such, we have to take urgent action to stabilise our network and protect the Electroneum community.
Coinbene Listing Electroneum & our network stability
We have formally agreed and signed contracts to be listed in July on the AWESOME, top 10, cryptocurrency exchange https://Coinbene.com
Coinbene have 1.5m active users and are a GREAT fit for Electroneum. Their primary markets are Latin America and Asia – which fits perfectly with Electroneum’s customer base. They have seen enormous growth over the last few months and have been very positive about the Electroneum Project.
Whilst this is great news, we will need much more hashing power to ensure we have network stability for our listing on this exchange, so we’ve taken the decision that we can’t wait any longer for GPU miners to return to us and we must run an urgent software update to re-introduce ASIC mining to Electroneum.
This is a very positive move for Electroneum. A great deal of Bitcoin’s trust and appeal is from the enormous hashing power and distribution of miners on the network. Bitcoin & LiteCoin have embraced ASICs and we feel that it is the right thing for Electroneum to do the same.
ASICS are becoming more prevalent, they cost considerably less to run than a GPU rig and use a fraction of the electricity. We are going to encourage more ASIC ownership and take our hashing rate up to (and beyond) the enormous levels of hashing power that we had before the May fork.
There is a further development. The first generation of hardware called an FPGA miner is arriving during 2018 and they make ANTI-ASIC capabilities a thing of the past, as they circumvent the slow delivery time of new ASICs by being re-programmable. If we are ready to embrace these rather than fight them, our network hashing power is increased further and our network stability and security is further enhanced.
Because ASICS run cooler, quieter and use a fraction of GPU rig power, they are suitable for MORE people to run in their homes. If you are interested, a search of “Cryptonight ASIC miner” in Google or Ebay will find the equipment needed to mine Electroneum. You will need to be reasonably technical to achieve this!
Having a stable network is absolutely key to both delivering mass adoption and to ensure we have a great relationship with the great exchanges that we’re already listed with, and to encourage more of the larger exchanges to see Electroneum as a coin that they want on board.
How will I mine Electroneum after this update?
If you are a mobile miner – nothing changes. If you are a GPU or ASIC miner then you’ll need to connect to an Electroneum pool but it is important to note that you will need to change your ALGORITHM. You MUST use the algorithm “Cryptonight” and NOT “Electroneum” or “CryptonightV7”. This will ensure your device works after the update. We will communicate this to all pools, but if you are a member of a mining pool – PLEASE LET THE ADMINS KNOW ABOUT THIS CRITICAL UPDATE. They must update their pool node by block 324500, which is only around 36 hours away.
Instant Payment vendor API is open for BETA applicants
Instant Cryptocurrency Payments via smart phone has always been a critical part of what Electroneum required to achieve mass market adoption. It’s never been done, but 9 short months after our ICO we are excited to announce that we have opened to the doors to vendors who would like to accept payment via Electroneum. The application is to be part of the BETA rollout of instant payment, but will operate on the live blockchain with real ETN!
If you run a business or know someone who does – why not recommend they apply to accept ETN. The Press and Marketing opportunities for the first, in any sector, to accept cryptocurrency are huge! Be part of the instant payment API BETA program by completing this form: https://docs.google.com/…/1FAIpQLSfKTwWT7W4ltmApZO…/viewform
How can ETN change the world?
Instant payment does far more than allow people to pay for their coffee with crypto instead of their VISA card.
If you’d like to know more about Electroneum’s future I suggest you read a fantastic article that describes its coming role in the world, by fellow director Chris Gorman OBE (Officer of the British Empire – awarded by the Queen of England!): https://www.linkedin.com/…/how-cryptocurrency-enable-financ…
Electroneum has one of the largest of all cryptocurrency communities and it is made up of passionate and amazing people. With your support and world changing things we have coming out over the next few weeks, we can use this update to make our blockchain foundation secure and lead the world in mobile cryptocurrency.
I'm sure you agree that we've been through some challenging times which our team have always dealt with and learned from. The strength and support from our community and many of our goals becoming a reality combined with this blockchain update will give us the perfect foundation to deliver the Electroneum vision that we all share.
Thanks for taking the time to read this long message.
Have a great day everyone,
GENERAL INFORMATION 0xBitcoin (0xBTC)
is the first mineable ERC20 token on Ethereum. It uses mining for distribution, unlike all previous ERC20 tokens which were assigned to the contract deployer upon creation. 0xBTC is the first implementation of the EIP918 mineable token standard (https://eips.ethereum.org/EIPS/eip-918
), which opened up the possibility of a whole new class of mineable assets on Ethereum. Without any ICO, airdrop, pre-mine, or founder’s reward, 0xBitcoin is arguably the most decentralized asset in the Ethereum ecosystem, including even Ether (ETH), which had a large ICO.
The goal of 0xBitcoin
is to be looked at as a currency and store of value asset on Ethereum. Its 21 million token hard cap and predictable issuance give it scarcity and transparency in terms of monetary policy, both things that Ether lacks. 0xBitcoin has certain advantages over PoW based currencies, such as compatibility with smart contracts and decentralized exchanges. In addition, 0xBTC cannot be 51% attacked (without attacking Ethereum), is immune from the “death spiral”, and will receive the benefits of scaling and other improvements to the Ethereum network.
GETTING 0xBITCOIN TOKENS 0xBitcoin
can be mined using typical PC hardware, traded on exchanges (either decentralized or centralized) or purchased from specific sites/contracts.
-Mined using PC hardware
-Traded on exchanges such as
MINING IN A NUTSHELL
0xBitcoin is a Smart Contract on the Ethereum network, and the concept of Token Mining is patterned after Bitcoin's distribution. Rather than solving 'blocks', work is issued by the contract, which also maintains a Difficulty which goes up or down depending on how often a Reward is issued. Miners can put their hardware to work to claim these rewards, in concert with specialized software, working either by themselves or together as a Pool. The total lifetime supply of 0xBitcoin is 21,000,000 tokens and rewards will repeatedly halve over time.
The 0xBitcoin contract was deployed by Infernal_Toast at Ethereum address: 0xb6ed7644c69416d67b522e20bc294a9a9b405b31
- MINING IN MORE DETAIL (Gee-Whiz Info)
0xBitcoin's smart contract, running on the Ethereum network, maintains a changing "Challenge" (that is generated from the previous Ethereum block hash) and an adjusting Difficulty Target. Like traditional mining, the miners use the SoliditySHA3 algorithm to solve for a Nonce value that, when hashed alongside the current Challenge and their Minting Ethereum Address, is less-than-or-equal-to the current Difficulty Target. Once a miner finds a solution that satisfies the requirements, they can submit it into the contract (calling the Mint() function). This is most often done through a mining pool. The Ethereum address that submits a valid solution first is sent the 50 0xBTC Reward.
(In the case of Pools, valid solutions that do not satisfy the full difficulty specified by the 0xBitcoin contract, but that DO satisfy the Pool's specified Minimum Share Difficulty, get a 'share'. When one of the Miners on that Pool finds a "Full" solution, the number of shares each miner's address has submitted is used to calculate how much of the 50 0xBTC reward they will get. After a Reward is issued, the Challenge changes.
- HOW DIFFICULTY ADJUSTMENT WORKS
A Retarget happens every 1024 rewards. In short, the Contract tries to target an Average Reward Time of about 60 times the Ethereum block time. So (at the time of this writing):
~13.9 seconds \* 60 = 13.9 minutes
If the average Reward Time is longer than that, the difficulty will decrease. If it's shorter, it will increase. How much longer or shorter it was affects the magnitude with which the difficulty will rise/drop, to a maximum of 50%. * Click Here to visit the stats page~ (https://0x1d00ffff.github.io/0xBTC-Stats) to see recent stats and block times, feel free to ask questions about it if you need help understanding it.
MINING HARDWARE Presently, 0xBitcoin and "Alt Tokens" can be mined on GPUs, CPUs, IGPs (on-CPU graphics) and certain FPGAs. The most recommended hardware is nVidia graphics cards for their efficiency, ubiquity and relatively low cost. As general rules, the more cores and the higher core frequency (clock) you can get, the more Tokens you will earn!
Mining on nVidia cards:
- Pascal (GTX 10x0) cards are usually the best choice due to their power efficiency. Maxwell-Generation 2 (GTX 9xx) cards are also a good choice and are often great overclockers, but they use more powegenerate more heat. Any fairly-recent nVidia card supporting CUDA should be capable of mining Tokens. It's possible to mine in OpenCL mode on nVidia devices, but It is preferable to use a CUDA for substantially better performance. (See Mining Software section.)
Mining on AMD cards:
- AMD GPUs are quite capable of Token mining, though they can't achieve quite the same performance that nV/CUDA GPUs can at this time. Because of their typically-high memory bandwidth (especially cards with HBM/HBM2), it is possible to mine 0xBitcoin/ERC918 Tokens alongside a Video Memory-intensive algorithm like Ethash or Cryptonight! (See Mining Software section.)
Mining on IGPs (e.g. AMD Radeon and Intel HD Graphics):
- This type of GPU is considerably less powerful than a discrete GPU, but is still capable of mining. They can supplement hashpower from other devices. The best performance should come from a chip with a larger number of Shader cores (like a Zen-based APU), but even typical Intel IGPs can submit shares and earn Tokens. (See Mining Software section.)
Clocks and Power Levels:
- The algorithm used for 0xBitcoin and Alt-Token mining uses the faster memories in a GPU core instead of Video Memory. As a result, it is advisable to underclock the Memory, which will save a little power, reduce memory temperature and sometimes enable the GPU core to hit higher clock speeds with stability. A card's Power Limit and Core Voltage can be tweaked to attain the best efficiency for individual cards.
~Pascal cards (like GTX 10x0) are generally more temperature-sensitive when overclocked. Reducing Core temperature can often stabilize higher overclocks better than adding voltage can. Maxwell-Gen2 cards (like GTX 9xx) can usually be overclocked further at higher temperatures.
MINING SOFTWARE AND DESCRIPTIONS For the most up-to-date version info, download links, thread links and author contact information, please see this thread: https://www.reddit.com/0xbitcoin/comments/8o06dk/links_to_the_newestbest_miners_for_nvidia_amd/ Keep up to date for the latest speed, stability and feature enhancements!
- V4.x versions are a near-total 'Modern' C++ rewrite/redesign for 64-bit Windows, built for speed, ease-of-use and stability. It supports nVidia/CUDA devices and Pool Mining. Solo/CPU mining both planned. Features a fully-integrated GUI, numerous optimizations assembly functions for speed (nicknamed 'Hashburner'), and supports multiple GPUs running in a single instance since v4.1. Auto-Donation/devfee of 1.5% (default of 1.5%.) Under active development!
A fork of 0xBitcoin-Miner designed for enhanced speed and less invalid shares at the Pool level. It is somewhat older and is built using a combination of NodeJS/C++/CUDA. It has versions available for 64-bit Windows and Linux and runs from a command-line interface. Comes in multiple versions with 1, 1.5 or 2% "Auto-Donation"/devfee. Not under development at this time, but still relevant.
- A Command-Line Interface miner that aims to provide functionality similar to that of "CCMiner" for other algorithms for 0xBitcoin and other ERC-918s. As such, it offers an API for integrating with Mining management software and integration with HiveOS & EthOS. It also supports OpenCL devices (such as AMD cards and Intel IGPs.) Has a minimum Auto-Donation/devfee of 1.5% (with a default of 2.0%.) Under active development!
- AIOMiner is an All-In-One GPU Mining software for Windows that boasts support for over 55 different algorithms, is free to use, and eliminates the need to configure batch files through its easy to use interface.
- TokenMiner is based upon Genoil Ethminer and was the first to add support for OpenCL devices (AMD GPUs/APUs.) It supports CPU and Pool/Solo mining from its command-line interface (in -C or -G, -S or -P modes.) It can also mine on nVidia/CUDA cards (in OpenCL mode, albeit with lesser performance.) Has a 1% "devfee" running in Pool Mode. This miner has since been forked for compatibility with some FPGAs!
- v2.10.4 is an enhancement of the original 0xBitcoin-Miner with CUDA support added by Mikers and enhanced by Azlehria. "Nabiki" is a C++-only version, with no NodeJS code, which supports Pool Mining (just not Solo) and works on Windows 64-bit and Linux. Source code is available with pre-packaged binaries and a GUI in the works. Has a 2.5% "devfee". Under active development!
~Older Miners: Older and possibly-unsupported miner versions can be found at the above link for historical purposes and specific applications- including the original NodeJS CPU miner by Infernal Toast/Zegordo, the '1000x' NodeJS/C++ hybrid version of 0xBitcoin-Miner and Mikers' enhanced CUDA builds.
FOR MORE INFORMATION...
If you have any trouble, the friendly and helpful 0xBitcoin community will be happy to help you out. Discord has kind of become 0xBTC's community hub, you can get answers the fastest from devs and helpful community members. Or message one of the community members on reddit listed below.