If you’re new to mining you probably have multiple questions running through your head right now. Good news is that it gets easier with time, assuming that you do your homework and research, and we will try to help you out.submitted by coinfly to CoinFly [link] [comments]
One of the common questions is whether one should choose GPU or ASIC mining and we definitely have some advice on that topic.
When we’re considering classic POW mining we can quickly rule out CPU hardware for not being efficient and FPGA hardware because of its high costs. This leaves you with ASIC and GPU to choose from.
Buying Mining EquipmentLet’s get things straight — you won’t be able to buy ASIC devices in any of you local electronic shops, even in the biggest ones. There are two ways you can get this hardware: buying it online which shouldn’t be a problem these days unless that’s the newest model you’re after. Second option is to find a local company that sells ASIC equipment.
Also, you can try to purchase the equipment directly from the manufacture company, however, mind the huge customs and delivery fees if the company is located abroad.
It is highly recommended to test ASICs before buying them to make sure the equipment works properly.
GPU or graphics cards and other equipment that you will need to build your very own mining farm can be easily purchased at a regular computer store. The only problem you may have is getting the right set of hardware, so make sure to come prepared.
When buying a used (second-hand) graphics card don’t forget to test it.
If you’re not into hardware and have no clue how to set up a farm by yourself buying ASIC equipment would be a better option as you won’t need to build anything yourself.
Warranty PolicyIn general, an official warranty policy for ASIC hardware is up to 180 days since the equipment was shipped to the buyer. When the seller is confident about the quality of their equipment, they can offer their personal 1 month warranty.
When you’re buying computer hardware in most of the cases you are getting full 2 year warranty policy including exchange or repairments of the equipment.
Warranty policy is especially important when you have no chance to check the equipment yourself or when you’re buying large inventory of it. Also, if you plan to go with overclocking, you will probably need a decent warranty as well.
We need to add that when you’re using the equipment accordingly and conduct regular maintenance both ASIC and GPU can work past the warranty period.
Setting Up ProcessWith ASICs it’s simple: you plug and connect it, pick a pool to join and start mining right away.
With GPU, it’s a little complicated. First, you need to build your farm. You will need a framework, motherboard with installed CPU and cooling, storage unit, power supply, risers and video cards. If you have no experience with assembling computer hardware you’re gonna need to save some time and prepare to put extra effort. Once your rig is ready you will have to install OS and optimize it which is usually even harder than setting up a rig. But luckily we’ve got a solution for that. CoinFly can do the work for you and help you with setting up and optimizing your equipment.
Although ASICs are very easy, you shouldn’t quickly give up on GPU mining. If assembling computer hardware is not a big problem for you, CoinFly will help you with setting it up.
MaintenanceASIC equipment won’t give you too much trouble: it’s safe, stable, and doesn’t require any special knowledge. Maintenance includes cleaning off dust and oiling the fans.
When dealing with rigs, you will have to work a little harder and study the basics about at least graphics cards’ temperatures and operational frequency. A stable workflow depends heavily on the software and as it has a tendency to fail, it could become a problem. Unless you’re using CoinFly — our system will notify you in case of emergency so you can tune your equipment online.
Once again, when it comes to maintaining ASICs are almost trouble-free. GPU rigs are a bit tricky but when using the right tools like CoinFly to monitor their work, it can serve you just fine.
The NoiseASICs are loud: when you’re in a room with a working ASIC you’re gonna need to shout, so people can hear you.
GPU farms have no such problem. Some of them are almost silent and that doesn’t affect the cooling process at all.
Maybe the level of noise your equipment makes was not the first issue on your list but we recommend you to consider it. ASICs are suitable only for the commercial and industrial premises.
MiningASICs can work with only one algorithm and mine one or several types of cryptocurrencies and are perfect for mining Bitcoin and its forks.
GPU rigs are universal: you can mine a huge variety of coins if you set your miner right.
If you want to mine Bitcoin, you gotta go with ASIC. But think again if that’s what you’re really after. After all, you can choose mining any altcoin that you’d like with your GPU rig and then simply exchange it to BTC. And if you’re lucky enough to mine a coin that will do good ASICs do not give you that choice, however, their mining capability is higher.
Relevance of the EquipmentASICs are quickly getting out of date as the new models come along. Back in the day, the new versions used to come out every half a year and they were 10 times more efficient. In general, you need to change your ASIC hardware every year.
GPU equipment can perfectly serve you for 2 to 3 years and if you wish to sell the graphics card afterwards that wouldn’t be a problem either.
In terms of relevance, it’s probably reasonable to go with the GPU.
Return on InvestmentIn the long run, the profitableness of ASICs is higher but because the new models are being released quite frequently you cannot expect huge profits. It is always important to do your research and get the most relevant equipment.
GPU hardware will take its time to pay you back but it also depends if you manage to find the right coin to mine that will eventually increase your profits.
ASIC mining is definitely a good option for those who don’t want to constantly monitor the crypto market.
But in the case that you’re interested in what’s happening in the crypto space and you also have time to do your own research, the GPU farm would the better choice. If you’re not willing to spend your efforts on that, CoinFly Autopilot mode will help you mine the most profitable coin on the market automatically.
ConclusionASICs are great for people who can provide a non-residential space for mining and not willing to spend too much time and effort for setting up the equipment and stay updated with the latest trends in the crypto industry.
GPU rigs are suitable for mining at home and won’t scare away all the crypto and computer enthusiasts. If you’re just starting your mining journey but not sure how to do it, we recommend to register on CoinFly. From setting up your hardware to tuning it online and picking the best coin to mine at the moment — we’ve got you covered!
Could you talk a little about the software development process that Graft uses? What development methodology does Graft use? Is it an industry-standard model (such as agile, incremental, or waterfall) or something custom designed? Perhaps you could walk us through how the process works, for example how a concept goes from initial idea to implementation to testing to competition?
"I currently scan various blockchain projects"". Ive noticed several unresponded pull requests that seem to be ignored"" In understanding C++ for a number of years. They seem to be solutions for a drastic fix. I can not involve myself in a blockchain that the dev doesn't fix issues in a timely manner. How can i invest with any courage the dev and the project is community oriented if they do not listen to pull requests! Is there any particular reason why PR are being ignored and is the super node RTA going to launch without any review from all pull requests?"
It is appreciated that the Graft Team have said many times that people who buy GRFT aren't investors. But if GRFT is truly a 'community' coin then it would help if someone is available to give one consistent message from the Graft team to the people that form the community. There is often misinformation and confusion in the telegram and elsewhere because there isn't someone from the core team that is managing communication with the community. Will you be hiring an individual or team to manage communication with the community?
In the current alpha implementation, the RTA SuperNode requires a hot wallet with full spend keys on the VPS running the SuperNode. This seems dangerous: if we imagine graft at $1, that means a T4 is holding a hot wallet worth a quarter of a million USD, which makes it a tempting target for hacks—someone who gains access to the VPS could steal the entire stake plus any transaction fees. Why did Graft decide to go with a hot wallet approach as opposed to the cold-stake approach (of submitting stakes as time-locked transactions on the blockchain) commonly used by other Masternode systems?
"The recently announced stimulus plan for supernodes was unveiled without any details at all as to how it will work. This has led the community taking wild guesses as to how it might work (e.g. with the unofficial calculator floating around) and what the payoffs might be. Proper planning for potential supernode operators requires the actual details. When do you plan to formalize the stimulus payoff details so that people can start deciding whether or not they want to run supernodes?"
There has been quite some discussion recently on the GRAFT blockchain telegram channel about the upcoming Monero CNv2 fork and the impact it may have on the GRAFT blockchain. Some are convinced that the fork will lead to a substantial migration of ASIC/FPGA hashrate to GRAFT (being the most profitable CNv1) from XMR. This in turn could lead to centralization of the network, a potential drop in value (as the farms are less like to hold their GRAFT) and even outright attacks. It would be great to get more information from you on this topic, if you plan to fork to CNv2 or any of the CNv1 derivates in the coming months?
Where are we with Verifone and Ingenico exactly? What will be procedure for merchant to turn on GRAFT as currency on their POS machines, and will it require manual update?
Could you briefly share the Graft Team marketing plan and road marks that you are following to implement the plan?
Many people have attempted to send coins from the mobile wallet to Cryptopia. The transaction fails because the mobile wallet does not support non-integrated payment ID's. The users then contact Cryptopia about the lost coins and then Cryptopia asks for a payment ID. There are a few problems with this all too common scenario, but the biggest problem in my opinion is that the mobile wallet does not provide access to transaction ID's. Will the mobile wallet soon be able to display transaction ID's?
When will the results of the RTA alpha testing (bug reports/fixes/etc.) be made public? Or if they won't be, when will you start accepting public bug reports for RTA supernodes?
Do you plan to conduct any external security audit of the platform (RTA/Exchange brokers/etc.) before the final production release?
What is the long-term plan for continuing Graft’s management? Some other coins have defined organization structures that are designed to continue without the present Dev teams. Has the Graft team thought about how Graft will be managed on an ongoing basis once the project reaches maturity?
Multiple sites out there already support payments with cryptocurrency. How's GRAFT different?
I've heard that early supernode holders will be incentivized to participate in the graft network and I applaud that. Doesn't it make sense to incentivize merchants to encourage graft usage by offering a transaction fee holiday for some time period up front? You could still pay the network supernode participants out of the coins set aside for incentives (or not). I think that incentivizing the vendor will go MUCH further towards promoting crypto adoption.
Service Brokers are going to be One of the most critical part of the Graft Ecosystem. Considering an example where Bitcoin payment is made by a buyer and Merchant's payout choice is in Fiat USD. This is the most obvious use case I could think of. And the kind of liquidity needed for converting BTC to USD is going to be huge (to make settlement seemless). I fear individuals (SN owners) could provide this liquidity. Unless a major exchange could be a service broker I personally feel this will be difficult. Hard fact being we are facing difficulties in listing Graft on a bigger exchange, so what's the plan on getting a high liquidity exchange?
One problem with almost every cryptocurrency is the boundless growth of the blockchain data. One of the numbers that got pulled from the reward post was 100k transactions per day. Graft transactions average about 12kB, so put those together and you get the blockchain growing by 1.2GB/day. It'll hit nearly 100 gigs after 2 months, nearly 500 gigs after a year.Does Graft have any long-term plan to reduce that storage requirement at the node and/or supernode level?
We appreciate your efforts to involve the community in the project, how would you like to improve this relationship over the next few months?
How does GRAFT handle void transaction? Is that similar to void transaction of Credit card's?
Welcome to the community of VNT Chain! We are the VNT Team and excited to announce that we are going to do monthly (or more often) AMA (Ask Me Anything) to listen and speak to our community members directly, on any topic! Each AMA will have its own main topic but any valuable topic or question not answered in the current AMA will be transferred to the next one.submitted by VNTChainLabs to VNTChain [link] [comments]
We already had our first AMA on all our WeChat groups and Telegram channels, on July 14. Here’s a summary of the first AMA event.
VNT Chain Introduction
Powered by the worldwide leading blockchain service provider--Yunphant, VNT Chain is dedicated to build a global distributed smart value network, to provide efficient, friendly and low-cost services in finance, healthcare, supply chain, gaming etc.
Dr. Huang Butian, co-founder of VNT Chain and founder of Yunphant Blockchain, founder of Blockchain Special Committee of China Computer Federation, got his PhD degree from Zhejiang University in Computer Science. Dr. Huang has raised more than 40 blockchain-related patent applications, ranked ninth in the global blockchain patents by 2017. He’s also the author of the book “Blockchain decryption – To build the next generation of internet based on trust”.
Q1：@Mo (Group 9) Please give us a brief introduction to the VNT Chain team.
VNT Chain is powered by Yunphant. Yunphant was founded in 2014. It’s a senior member of hyperledger, focusing on blockchain service and product innovation. Yunphant has broad industry experience and use cases in blockchain infrastructure and services, is the first cross agency blockchain service provider of Chinese commercial banks, and the only one blockchain service provider for the key research program in the modern service industry of the Ministry of Science and Technology, China.
The team has made the below key achievements so far.
Q2:@此心光明（Group 9）：The VNT Consortium Chain+ Public Chain solution is in fact goes against the decentralization of the blockchain in public opinions. How can VNT guarantee sufficient decentralization?
The more appropriate way to express “decentralization” is “non-centralization”. Please refer the article “Blockchain: Building a Credit-Based Next Generation Internet”. The issue that blockchain solves is the problem of trust. It is meaningless to implement completed decentralization in some application scenarios. What we should concern about is the performance, security, and scalability of blockchain, so that it can better connect with the real economy, generating greater commercial value. VNT supports the scalability mainly by reducing participation in consensus groups, improving the efficiency of consensus algorithms and combining the technologies of consortium chain and side chain.
Q3: @琥珀川（Group 3）：What are the advantages of Vortex's consensus mechanism? How to achieve TPS above 10,000? How does VNT improve the speed of the public chain without losing the level of consensus?
The traditional Bitcoin and Ethereum are mainly based on POW, which reaches a consensus based on the workload of miners. But the biggest problem is the low efficiency. From the technical level, first, the optimization of consensus algorithms. A lot of optimizations have been made to the traditional PBFT. The transaction and consensus optimization are processed in 2 channels. The consensus message is processed first, and Replica cancels the whole network broadcast of the transaction, improving the consensus response speed and reducing the demand for network bandwidth.
Another strategy is hardware acceleration. All the super nodes need to build their own servers, which calls for cost in a certain server, and equip each node with the GPU to make hardware acceleration for the verification that involved in the consensus algorithm.
In the future, we will implement a system operation framework of consensus verification through FPGA to perform point-to-point connection by implementing TCP/IP protocol, and to use ARP, ICMP, DHCP-assisted TCP/IP protocol to interact with other FPGA nodes, shortening the TCP/IP stack and making the FPGA In the real network; At the same time, the data message is converted into a message format that satisfies the requirements of the consensus protocol, and then be transmitted and broadcasted. Other FPGA nodes will send the votes and feedbacks when they receive messages. This kind of technology can greatly improve the communication efficiency, especially for intensive computing services.
Q4: @金元宝（Group 8）As the pioneer of the financial application of blockchain technology both domestically and internationally, how do you think of the comparison between VNT and Ripple which is recently put forward by media agencies?
It is true that Yunphant and Ripple are doing something similar. Ripple provides a global financial settlement solution that is dedicated to promoting the standard trading protocol common to all major banks around the world, replacing the swift network. Yunphant provides blockchain infrastructure services to establish distributed shared ledgers for commercial banks. At present, the credit certificate information and the electronic transmission system of trading documents based on blockchain technology have been constructed, which reduces the time of credit certificate transaction from 3-5 days to seconds. It can improve the acceptance efficiency of the credit certificate business and eliminate the cost of offline certification. Logistics, taxation, and the like can be incorporated in following up processes, solving the authenticity problems of trade background for banks.
Q5: 桐博博 （Group 10）：The improvement of the blockchain is to improve the security of the system and reduce the operating cost of enterprises. The essence of the VNT Chain is the integration of the consortium chain and the public chain, which calls for a great amount of workload. However, the quantity standard on the public chain of every consortium chain may differ, and it will be a waste of resources of the public chain. And at the same time different standards can bring difficulties in code auditing, and it is more prone to security problems. My question is when it comes to the date docking on the public chain, can Dr. Huang provide any solutions?
Well it’s a quite long question. Based on my understanding, you are asking what are the difficulties in implementation of “Public Chain+ Consortium Chain”?
Note: 1. Ordinary contract will need to transfer data across the chain to the cross-chain contract; 2 Cross-chain nodes get cross-chain blocks from the cross-chain contract through rpc request; 3 Collect the block submitted to the verifier for verification; 4 Collect the block after submitting to the supervisor, and the certifier's behavior is supervised; 5 After the verification, the new block will be generated. 6 Side chain application transfers the cross-chain data.
It is indeed the technical integration of the consortium chain and the public chain, and the consistency of the data standards between consortium chains must be standardized. We are working with some banking institutions and trying to establish standards for financial district management of the commercial banking system.
The entire architecture involves a cross-chain mechanism, which is a technical difficulty for our current infrastructure. Here we have to resolve a cross-chain mechanism between the consortium chains, and the consortium chain and the public chain.
Q6: @Winter-tale (Group 5): According to my understanding, VNT Chain is to trade the assets or data on the consortium chain and then connect to the public chain through the cross-chain mechanism to realize the sale and purchase, which simply put is that to sell the assets or data of the organization to the c-end users? So my question is, will the assets and data of the organization be sold? Is one of the values of VNT tokens used as a medium for buying or selling these assets or data?
VNT builds the exchange connector of data and asset. It is the infrastructure pipelines VNT Chain provide for the data and asset transactions among participating organizations. Therefore, VNT Token is not a medium for buying or selling data and asset, but a fuel GAS for trading contracts.
Q7:@爱嘻嘻(Group 3) What is the role of VNT tokens in the entire ecology? What is the economic incentive model for all parties including developers, miners, and investors?
Incentives: Use VNT tokens to motivate community developers and contributing users;
Publish the app: Any individual or organization needs to pay VNT tokens to publish a decentralized application or smart contract on the VNT Chain network;
Circulating digital assets: Any user needs to pay VNT tokens to transfer assets on VNT Chain;
Consensus Reward: The Consensus Node can get VNT tokens from each transaction as a reward.
Q8:@山的那边(Group 10): Speaking of the financial sector, can you give an example of what kind of pain points does the VNT Chain solve? What kind of ecosystem will VNT Chain build in the future?
This team “Designer” was hatched by us. The biggest problem in the financial sector is trust. VNT Chain hopes to build a global distributed smart value network to replace the traditional SWIFT network. At present, Yunphant Blockchain is cooperating with Minsheng Bank, China CITIC Bank, Suning Bank, Bank of China, etc. It is hoped that such a blockchain infrastructure will be built to lower the cost of credit certificate and improve the efficiency.
Despite of building infrastructure, VNT's ecosystem includes the establishment of a smart contract service platform (recently our incubation team Designer won the first place in the Thunder Global Blockchain Competition), the development of digital asset wallets, and game social networking. In addition, we have established joint research plans with Zhejiang University, National University of Singapore, Shandong University, Wuhan University and other universities to reserve the frontier technology research results of the blockchain. We will provide the greatest possibilities for the improvement of blockchain infrastructure! We are all working hard on the infrastructure construction and improvement of blockchain industry!
Q9: @funny (Group 1) Does the VNT under construct has a detailed plan for program implementation and application?
We have completed the development of consortium chain, and we are now focusing on the development of the main chain and supplementary wallet, smart contract service platform, etc. In terms of program application, we are now gradually promoting the application of credit certificate and forfeiting for domestic commercial banks, and cooperating with some commercial organizations to promote the application of supply chain finance, and advancing some other business cooperation with local game manufactures in Hangzhou.
Q10: @Mo (Hangzhou): How does VNT think of the development and future of the global public chain, and what advantages does VNT have in current cooling-down market?
I personally think that it the most advantageous technology should be the fusion of the consortium chain and the public chain. The synergy between on-chain and off- chain is an inevitable trend of management of infrastructure development in the future. Based on this, VNT is the first in the world to propose a fusion architecture of consortium chain + cross chain+ public chain, optimizing hardware acceleration through consensus algorithms to improve the performance of the main chain and supporting high scalability through consortium chain strategies. Through an architecture like this, the application problem of basic infrastructure can be solved. In addition, we have greater possibilities by the support from Yunphant Blockchain, especially the technology accumulation and application experiences.
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