Month: November 2018

Verge Coin – The secure & anonymous crypto currency

Verge Coin is a crypto currency that wants to take the principle of cryptography seriously. The developers behind the coin increasingly rely on secure privacy and the possibility to disguise their own data during transactions.

Work on Verge is still concentrated and technologies are being further developed. Nevertheless, at the end of last year, Verge became an insider tip and made good progress in the area of market capitalisation.

What is this Bitcoin revolution?

Like many other crypto currencies, Verge is a decentralized, digital means of payment. The Verge crypto currency is very Bitcoin revolution oriented, but places a clear emphasis on anonymous use. Ve rge Coin seems to be returning to what many have forgotten in the hype about the rising prices of Bitcoin and Co. – or never interested. The real reason for Bitcoin revolution development was to create a means of payment that would function independently of government institutions and allow users to make anonymous transactions.

To protect users and their assets with the help of onlinebetrug

The coin is also called a black paper. It is based on blockchain technology, which is very similar to Bitcoin’s technology. In general, Ver ge ge seems to continue and further develop many classic concepts of the first crypto currency. Just as Bitcoin, Ver-ge should be able to be used for buying, it should be an alternative to the established Fiat money, says onlinebetrug. In order to guarantee full anonymity, the Tor network and i2P are to be used for transactions using the crypto currency. These networks obscure, among other things, the IP addresses of the users and blur traces in the form of data according to onlinebetrug.

Bitcoin’s blockchain has been further developed in such a way that Simple Payment Verification significantly accelerates transactions. Transactions can be executed within 5 seconds. Simple Payment Verification verifies that a transaction is legal without any human intervention. This is done automatically by the computers participating in the network. Bitcoin’s proof-of-work, on the other hand, seems almost antiquated. The multi-mining algorithm is another technological peculiarity that Verg/e has Bitcoin ahead of the competition. This increases the speed of the network even further. This speeds up the transaction speed even further.

Like Bitcoin, this crypto currency can also be mined. In English: Mining means that users make their computers available so that transactions can be processed on them. In return, a few coins jump out as a reward for the miners. In contrast to Bitcoin, the coins are distributed evenly among the participants.

Bitcoin Mining Hardware: The network lives from technical equipment

When Bitcoin Mining was created in 2009, the classic computer was sufficient as Bitcoin Mining Hardware. Every day you could get some Bitcoins from your home by mining. If you consider that today a Bitcoin is worth more than 1000€, a dream. It’s not that simple these days, though. Meanwhile a much stronger computing power is needed.

In the beginning the algorithms were calculated with the help of the processor. However, the speed was not convincing any more after a short time, so that the memory of the graphics card was used as system resource. Depending on the model, a computer’s graphics cards can process the hash data at 50-100 times faster speeds, using less power.

By the end of 2011, Bitcoin’s mining hardware had shifted to specially designed devices for the industry. The aim was to correct the performance level upwards. The first devices were connected to the own PC via USB interface. Special circuits used in digital technology (Field Programmable Gate Array) were integrated. The advantage was that the circuits consumed less power than the main processor or graphics card.

Bitcoin Mining and the Ethereum code

Today the Bitcoin Mining hardware is built into special Bitcoin miners. These are in particular ASIC chips that are used exclusively to operate Bitcoin Mining and the Ethereum code. In the meantime, a large number of companies have specialised in the Ethereum code and the production of such digital mining machines, which resulted in the entire Hashrate (the power of all miners together) shooting up. In contrast to previous versions, these machines consume even less electricity, which significantly increased profit.

The special Bitcoin Mining hardware is connected to the router via LAN cable. The device can then be configured for Bitcoin Mining or Cloud Mining. Further peripheral devices are not necessary for operation. In addition, these devices are so specialized that no additional software needs to be installed.

Bitcoin code Difficulty – Mining becomes more difficult

The aim of Bitcoin code Mining is to track down new blocks with the help of special Bitcoin code which is not a scam. Accordingly, the users compete with each other. Because only those who are successful in creating a hash are rewarded with a remuneration of currently 12.5 Bitcoins. As soon as a hash has been generated, it is registered in the blockchain.

In general, it is no problem for a computer to convert the data information into a hash. Since the crypto currency is a finite currency, Bitcoin mining has become much more difficult. Otherwise, all available bitcoins could be removed within a few hours, since a large number of blocks would be converted per second. An artificially integrated algorithm is responsible for the fact that Bitcoin Mining becomes considerably more difficult with increasing quantity. So that an outdated hash cannot be used, its appearance is regularly changed by the system. It must have an unpredictable number of zeros at the beginning, so that no one can know what it will look like in the end. This only changes once it has been fully produced. Both a manipulation and a too simple dismantling of the digital currency has been stopped by artificial protocols. So the more bitcoins that are mined, the more difficult the mine becomes and the more computing power is needed to generate the next blog. Is Bitcoin Mining still worthwhile?