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Ethereum Difficulty Decrease

Ethereum Difficulty Historical Chart

Ethereum Difficulty Historical Chart

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Ethereum Difficulty Drop

Ethereum Difficulty Drop

I have just noticed a big drop of ETH difficulty. What have caused it? i would to diagree on this one because, first Ethereum price has moonrockted, and second there are lot of different currencies to be mined not just Ethereum like what is happening with the NEW MINER FOR DASH ANTMINER D3. The difficulty was artificially increased 2? times before the latest build in preparation for the future transition to proof of stake. ETH has a massive inflation of 13% per year, so they tried to decrease it with coded difficulty bombs. People complained and the difficulty bombs got coded over in current release. it is too soon! if it were after October 25 i would have said the miners have moved on to mine bitcoin gold with all their GPU rigs and the hashrate drop caused the difficulty drop also. but BTG is not yet released! maybe this is the first step though, since the reward was nearly halved from 5 to 3, miners automatically switch to more profitable ones to mine: ETC, ZEC,... Yup it was because of the Byzantium fork. The dropped rewards earning from 5 to 3 eth for each block now. Right now the earnings seems to had increased by around 20% only. So if difficulty dropped, i havent really looked it up. But the rewards or earnings had increased by around 20ish %. Kinda shtty if you ask me. And price seems to be the same for eth. These damn eth devs, they shouldve just left tbe block rewards as is. Reducing the block rewards seems like no effect on eth price. Quote from: Chan8 on October 20, 2017, 06:12:05 PM Yup it was because of the Byzantium fork. The dropped rewards earning from 5 to 3 eth for each block now. Right now the earnings seems to had increased by around 20% only. So if difficulty dropped, i havent really looked it up. But the rewards or earnings had increased by arou Continue reading >>

Mining - How Do I Decrease The Difficulty On A Private Testnet? - Ethereum Stack Exchange

Mining - How Do I Decrease The Difficulty On A Private Testnet? - Ethereum Stack Exchange

How do I decrease the difficulty on a private testnet? I've created a private test network. On the genesis.json file, I've changed the difficulty to 1. Yet, mining a block still takes hours on my CPU. I suspect that is due to some configuration related to the network adaptation. What is the correct procedure to decrease the difficulty on a private testnet, so that I can mine the first blocks in a not very powerful CPU? If the answer answered your concern, feel free to accept it as the correct answer by checking the tick sign below the voting buttons. niksmac Apr 1 '16 at 13:15 I'm not sure this answers solves my issue. As soon as I'm able to investigate I'll either accept it or post a comment stating why it didn't work. MaiaVictor Apr 1 '16 at 13:16 Sure, if you edit your question or post any comments below the answer, i might be able to recommend a solution. niksmac Apr 1 '16 at 13:47 You can make the difficulty static by modifying the CalcDifficulty in Geth to return a static number. Example: func CalcDifficulty(config *ChainConfig, time, parentTime uint64, parentNumber, parentDiff *big.Int) *big.Int { return big.NewInt(1)} Rebuild Geth and use your modified version. This is the same variable we set in genesis block right? If yes what is the advantages of this method? niksmac Jul 18 '16 at 8:44 @niksmac I edited to change difficulty to 1 so mining will always be fast. Otherwise, the difficulty will gradually increase and mining will take ~15 seconds, which is what's desired in Homestead, but probably not in your private chain. eth Jul 18 '16 at 8:59 Should I make this change and modification on all nodes that are connected to me private ethereum network? or on the enode that I am connecting into? If yes, does it affect the difficulty on ongoing private blockchain net Continue reading >>

What Is The Ethereum Ice Age?

What Is The Ethereum Ice Age?

Ethereum is currently a Proof of Work cryptocurrency, meaning that computational power is needed, not only to produce new coinsbut to process transactions and to keep the entire ecosystem moving. In order to ensure the system is scalable and decentralized, Ethereum plans to move to a Proof of Stake protocol where a lot lesscomputational power is required and miners can earn rewards according to their balance. The Ethereum Foundation is still working on the Proof of Stake protocol, Casper. Since Casper is not finished and it's not contained in the release version of Ethereum a hard-fork might be required to implement this change. An hard-fork creates an incompatibility between the previous version and the latest, there is always the possibility to create a "split" that result in two blockchains, like Ethereum Classic , did on the 1920000th block, after the hard-fork to refund The DAO token holders took place . In order to ensure such event doesn't take place (although it did already) and to give themselves a time-frame to finish Casper (making the community aware of the introduction of a hard fork within that time-frame), a Difficulty Time Bomb, is also known as Ice Age was implemented in Ethereum. The Ethereum Ice Age is a difficulty adjustment scheme that was put in place to ensure that everyone has an incentive to move to the new blockchain once the hard-fork is implemented. It was introduced on the 7th of September (2015-09-07), about 11 months ago and it's programmed to raise difficulty exponentially. It's impossible for miners to keep up with the increase of difficulty which would raise block time and it would make the blockchain freeze, hencethe name Ice Age. The key part is the calculation for the increase in difficulty is Math.pow(2,Math.floor(block.number / 10 Continue reading >>

Ethereum Mining After The Byzantium Hard Fork Have Profits Up

Ethereum Mining After The Byzantium Hard Fork Have Profits Up

Ethereum Mining After The Byzantium Hard Fork Have Profits Up Ethereum Mining After The Byzantium Hard Fork Have Profits Up Posted by Nathan Kirsch | Tue, Oct 17, 2017 - 10:23 AM The Ethereum network began a planned hard fork at block number 4,370,000 yesterday and it appears that the Byzantium hard fork has been a smooth transition so far ( check the status ). Miners are having some fun as they are seeing thatsome blocks are being mined in as little as 1 second while others are taking almost a minute during the transition time we are currently in. Over the past month we have averaged about 30 seconds seconds per block and with the fork adjustments that has dropped down to just over 14 seconds! The ETH rewards for a mined block has been cut from 5 ETH to 3 ETH to combat inflation, but miners are seeing about a 30-40% increase in profit with the hard fork changes! MyCryptoBuddy is showing that a single AMD Radeon RX 480 was getting $0.94 in profit per day on October 16th and just 24 hours later that card is now bringing in $1.37 per day. That is a 40% increase in profit thanks to the difficulty being readjusted lower and the lower block times! The Byzantium hard fork hasnt brought us back to the $4+ dollar days we experienced back in May 2017, but well take it! A single AMD Radeon RX 480/580 video card will bring in about $42.50 per month after power. You can actually buy AMD Radeon RX 580 video cards now with prices starting out at just $279.99 shipped for the 8GB model or $259.99 shipped for the 4GB model. ETH should go Proof of Stake (PoS) long before 4GB cards go obsolete, but who knows about other alt coins that might become more profitable to mine in the months and years to come. You are looking at just over 6 months to get you GPU investment back at current price Continue reading >>

Can And Will Eth Difficulty Drop? Low Eth Value Could Be Good For Us In The Short Term. : Ethermining

Can And Will Eth Difficulty Drop? Low Eth Value Could Be Good For Us In The Short Term. : Ethermining

As I am sure many of us have, I have been giving serious thoughts as to the feasibility of continuing mining vs. cashing in my hardware now and investing that straight into ETH. Long term I am a believer that we can see ETH hit $2k or maybe $3k, but right now with difficulty sky rocketing, things aren't looking so rosy in terms of getting ROI for my new rigs. What I am wondering is can ETH difficulty actually drop signifcantly? I don't understand the mechanics of how it works so I am hoping someone can enlighten me. Looking at the charts on CoinWarz I can see small dips, so I assume it is possible. Is it possible for it to go backwards significantly, in theory? Assuming it can go backwards, I am thinking that a drop in the value of ETH is actually the best thing for us. All the hashpower that services like Nicehash have directed at ETH can suddenly be redirected elsewhere as other coins appear to be more profitable in the short term. This in turn may actually decrease the difficulty, allowing those of us with goals of holding long term ETH to generate coins at a faster rate again. So, I am thinking... seeing ETH drop down in value for 6 months or so may actually be the best thing for those of us who believe in it long term and plan to hold till it hits $2k+. Continue reading >>

Miner Argument Continues Over Ethereum's Byzantium Economics - Coindesk

Miner Argument Continues Over Ethereum's Byzantium Economics - Coindesk

Miner Argument Continues Over Ethereum's Byzantium Economics A dispute between some ethereum developers and miners is continuing to simmer over the specifics of a coming upgrade designed to improve the network's functionality. The discussion, which has been underway since at least July, currently concerns an ethereum improvement protocol, EIP 649, intended to reduce the time it takes to "mine" a transaction block, a process for which miners are rewarded with the creation of new ether, the platform's native cryptocurrency. Key to the dispute is that,after the migration, nicknamed "Byzantium," blocks would be mined in about 10 seconds faster than they are today. But, to ensure that this does not deflate the value of ether, currently valued at around $300, the code patch also lowers the reward miners receive per block from 5 ETH ($1,200) to 3 ETH ($840). Stepping back, the change can be seen as a response to long-controversial code in the ethereum protocolcalled the difficulty bomb . An incremental increase of difficulty, pre-configured into the protocol, the difficulty bomb is designed to make blocks steadily less time-efficient to mine. But while the code is intended to incentivize miners to switch to a different chain in the case of a fork, critics fear that, combined with the decline in block reward, it could have the opposite effect. As the change will impact different stakeholders in different ways, it's hard to get everybody on board with the idea. Some commentators have gone so far as portraying the EIP as an attack on miners with the resources to mine harder blocks with greater rewards. At press time, the argument continues, though it remains unclear whether the posts represent a material number of stakeholders, and if they do, how theiracknowledgment might shift Continue reading >>

Ethereum Price Analysis - The Network Marches On

Ethereum Price Analysis - The Network Marches On

Ethereum Price Analysis - The network marches on Josh Olszewicz , 17 Oct 2017 - Ethereum , Ethereum Price Analysis , Opinion Ethereum ( ETH ) now has a US$31 billion market capitalization , second only to Bitcoins US$93 billion. Over the past 24 hours, ETH was the second largest digital cryptocurrency or asset by trade volume, below Bitcoin .Despite a spike in price in the days preceding the Byzantium Fork , which is nowliveand running smoothly, price remains largely range bound.The Metropolis update will also include a second hard fork, Constantinople, expected in 2018. After any fork or protocol change event, its important to evaluate how the changes were perceived by the network and why, especially with a cryptocurrency with a US$31 billion market cap. The metrics include; transactions per day, difficulty, hash rate, block time, and total nodes. Transactions per day will continue to rise should the network demand continue unabated, just by the nature of these changes. One of the goals for Metropolis is to increase scalability through transaction capacity of the network. This can either be done by decreasing block time, thus allowing for more transactions per day, or, increasing block size. In this case, block times have dropped significantly. Difficulty has also dropped significantly, as scheduled . Block time and difficulty are directly related. Should hash rate remain the same, a decrease in difficulty means a decrease in block time. Hash rate has now hit a new ATH, with some miners likely attempting to cash in on the substantial decrease in difficulty. Although the difficulty bomb has been delayed by one year, scheduled difficulty increases will continue, again squeezing mining profitability. Block rewards have dropped from 5 ETH to 3 ETH to combat inflation as w Continue reading >>

Ethereum's Difficulty Bomb: All Smoke, No Fire? - Coindesk

Ethereum's Difficulty Bomb: All Smoke, No Fire? - Coindesk

Ethereum's Difficulty Bomb: All Smoke, No Fire? Sometimeinthe future(we can't be certain when), ethereum will likely switch from its proof-of-work consensus algorithm to Casper, a proof-of-stake system its developers are now in the throes of completing. While this may sound like a slight change to those who are unfamiliar, altering this one parameter will have an outsized effect.When the protocol change happens, the ethereum blockchain will hard fork, meaning that, for a short period of time, two networks the old and new will exist simultaneously. At that point, the goal for ethereum will be to persuade the majority of its users to upgrade to thenew proof-of-stake-powered blockchain. Otherwise, ethereum risks winding up creating another blockchain, as it did when a past technical update created ethereum classic . On the surface of things, getting the companies that use the ethereum network to switch should not be a problem. After all, proof of stake promises to be faster and more scalable, and to consume far less energy than proof of work. To most of the ethereum community, Casper sounds like a great deal. Unless, of course, you are a miner. That's because proof of stake doesnt rely on mining. Rather, it gives the job of creating the next block to those who own tokens on a blockchain a move that essentially puts miners out of a job . But, two things could go wrong with ethereum's big switch. One would be if Casper does not work as planned. In this case, ethereum could simply delay the switchover. The second is if miners continue mining the old chain. But ethereum has always had a plan for that something called the 'difficulty bomb'. Baked into ethereum shortly after the network launched, the difficulty bomb was created to make mining a block increasingly difficult over Continue reading >>

Ethereum 'difficulty Bomb' May Not Happen For Another Year Or Two - Bitsonline

Ethereum 'difficulty Bomb' May Not Happen For Another Year Or Two - Bitsonline

Ethereum Difficulty Bomb May Not Happen for Another Year or Two There will be another delay for Ethereum minings difficulty bomb and switch to a proof-of-stake (POS) network, developers say. The decision could affect miners economic decisions in the near future, such as how much to invest in equipment and how much hashing power to devote to ETH. Also read: Shanghai Authorities Halt Blockchain Event, but No Fears of Wider Crackdown Increased Difficulty Means Leaner Times for ETH Miners There will likely be a squeeze on Ethereum blocks and block rewards from now until a new update arrives in late September. Reports from an Ethereum developers conference call last week said the long-proposed POS implementation, called Casper, will still not be ready soon. Originally planned for late 2017, the roadmap could push Casper back to the end of 2018 or later. Moving to POS has long been part of Ethereums roadmap, though the exact timing is unknown. It would fundamentally change the network, removing all ETH mining activity as it currently exists. Ethereum currently mines using proof-of-work (POW) like Bitcoin, where powerful machines race to solve a complex math problem and receive block rewards. Ethereum blocks are mined roughly every 12 seconds (depending on difficulty) and the block reward is 5 ETH. The rapid rise in ETH value from around $8 USD at the start of 2017 to around $400 in June has seen a rush to mine the token . It has also created a worldwide shortage of GPU cards. Under a POS model, Ethereum would require no GPUs at all. The difficulty bomb is code inserted into Ethereum that increases POW mining difficulty exponentially in preparation for POS introduction. The period where it gets too difficult to mine at all is called the Ice Age and its already beginning. The Continue reading >>

When Will Ethereum Mining End?

When Will Ethereum Mining End?

In August of this year (2017), Vitalik Buterin, creator of Ethereum , released the implementation guide for the first version of Casper. As a hybrid proof-of-stake (PoS)/proof-of-work (PoW) algorithm, Casper v1 is going to decrease (and eventually end) the profitability for Ethereum miners . The release date is estimated to be sometime in 2018 as part of the Constantinople hard fork and theres a lot to learn before this happens: Casper is a PoS algorithm thats projected to be released on the Ethereum network sometime in 2018. Beginning as a hybrid with the current PoW algorithm, the first version of Casper will only use a PoS consensus to validate every 100th block, called checkpoints. Once a checkpoint is validated, theres no way to go back and use a chain without it. Even if 99% of miners support a chain that doesnt include a checkpoint block, all clients in the network will still continue to use the one with the checkpoints. This removes a lot of the power that miners currently have. The Ethereum community hypothesizes that the switch to PoS will help with the scaling issues that the network is currently facing. The algorithm should enable new blocks to be created more quickly while allowing the network to scale more efficiently through sharding. Sharding is a horizontal partitioning of a large database into smaller and more easily managed parts. Beyond that, PoS algorithms also use less energy to run the network, reduce centralization, and make 51% attacks more difficult. With the upcoming hard fork, there could potentially be three forks of Ethereum: And, if youre a miner, you may be thinking, No big deal, Ill just continue to mine and give support to the Ethereum PoW fork. The Ethereum developers have stated that theyll be releasing what they call the difficulty Continue reading >>

How Difficulty Adjustment Algorithm Works In Ethereum

How Difficulty Adjustment Algorithm Works In Ethereum

How Difficulty Adjustment Algorithm Works in Ethereum In order to explain the logic of difficulty adjustment, we will use the go implementation of Ethereum which is generally called Geth. Source code of Geth can be found here. Difficulty adjustment algorithm is coded inin block_validator.go file, which can be found here. By difficulty adjustment we mean the logic in Ethereum using which Ethereum tries to keep mining time of the blocks between 10 to 19 sec. If difference in mining time is between 0 to 9 sec. then Geth tries to increase the difficulty to mine the block and if difference is 20 sec. or more, then Geth tries to reduce the mining difficulty of the system. In block_validator.go file, function CalcDifficulty is called to adjust the difficulty of the system and it returns the difficulty of the next block when it will be created. This function, in return, calls calcDifficultyHomestead or calcDifficultyFrontier depending on the configuration parameters. Latest version of Ethereum uses calcDifficultyHomestead function, therefore we will be reviewing calcDifficultyHomestead function. In order to calculate the difficulty of the new block, this function needs following input parameters: time Proposed time of formation of new block parentTime Time of formation of parent Block parentNumber Parent block, block number. Below is step by step process how difficulty of new block gets created. 1. First, difference between time of formation of parent block and new block is calculated. 2. Output of step 1 is then divided by 10 and integer of it is stored. This is done to create ranges. If output of step 1 is between 1 9 then output of this step will be 0. If output of step 1 is between 10 19 then output of this step will be 1. If output of step 1 is between 20 29 then output o Continue reading >>

Ethereum May Reduce Mining Reward And Inflation By 40%

Ethereum May Reduce Mining Reward And Inflation By 40%

Ethereum May Reduce Mining Reward and Inflation by 40% Ethereum developers are considering splitting the next big upgrade, Metropolis, into two hardforks, with the first hardfork expected sometime in September. That hardfork may reduce mining reward, and thus inflation, by around 40%, from 5 eth per block to 3 eth per block, while at the same time delaying what is called a difficulty bomb as Casper is not yet quite ready. The difficulty bomb is an automatic increase of ethereums mining difficult which has the effect of increasing block times withHudson Jameson, an ethereum developer, estimating they would rise to 45 second per block by November from what used to be around 15 seconds. That difficulty/time bomb was place in there to give miners no choice during the Proof of Stake upgrade known as Casper, but that has apparently been delayed. As such, the developers are proposing that the difficult bomb is delayed too, but to keep mining reward somewhat in line with what it would have been had the difficulty bomb proceeded, they are proposing to reduce block rewards from 5 to 3. The proposal appears popular, not least because if demand remains the same then a reduced supply may lead to a price increase, but some are concerned about the interference with fundamental parameters. Moreover, miners will need to upgrade and if they fail to do so it may lead to another chain-split. But if the proposal is indeed popular, then most eth users will probably value the reduced block reward chain higher. In any event, as a price rise to compensate for the reduced supply should be expected, it may be the case that miners are not actually affected by the change. Which raises the question of why do it at all, with the main reason appearing to be concerns over an increased miners power due Continue reading >>

Is Ethereum Mining Profitable In 2018?

Is Ethereum Mining Profitable In 2018?

In this article we will try to figure out the profitability of Ethereum mining As the price of Ethereum isaround $1000 you may be wondering to yourself whether its worthwhile to mine ETH. Like Bitcoin, Ethereum is a proof-of-work coin that uses miners to confirm network transactions. The profitability of mining varies from person to person and changes over time usually becoming less profitable as the coin matures. In this article we will try to figure out the profitability of Ethereum mining. There are three important factors to consider: In a word, your mining rig needs to solve a mathematical algorithm to mine Ethereum. The mining difficulty of the network is a measurement of how difficult this algorithm is to solve. The higher the difficulty, the less Ethereum you receive for each unit of energy the GPU on your mining rig expends. As more miners join the network the difficulty increases. The Ethereum mining difficulty had been steadily increasing since the beginning of December with 1,500TH to ~2,500H. EtherscanEthereum Block Difficulty Growth Chart The daily block rewards of ETH have hardly changed since December and it is currently ~20.339 ETH. The hashrate is the speed in which your mining rig can solve the mathematical algorithm needed to validate a transaction. Miners with a high hashrate usually come with a high price tag, but they also typically use more electricity as they operate which could further drive your costs up. Average hashrate of ethereum network has increased since December from ~125492GH/s to ~203394GH/s, which is the highest rate of all time at the moment. Etherscan Ethereum Network HashRate Growth Rate Each mining rig works at a different level of efficiency and uses a variable amount of electricity. On the low end, miners typically draw ~100 Continue reading >>

Ethereum Difficulty Drop

Ethereum Difficulty Drop

Should the network's hash rate drop such that it the Ethereum difficulty level I recently wrote a bearish article about Ethereum as I see the price declining in the short term. As ETH fans know, the Ice Age's difficulty increase over the last few months before POS has suffocated daily returns to all time lows. At this pace, mining profits are quickly thinning out. However, on whattomine it has no real impact on the amount of coins being produced. The difficulty increase and drop in the price of Ethereum has slapped us a few times across the face, in what feels like every day. I can't say when it by edwardthomson Mar 18, 2018 As the price of Ethereum continues to drop week over week, the mining difficulty continued to rise. The drop in difficulty and hash rate was expected due to depressed Prices increases in ethereum, Ethereum Difficulty will cause exponential as well as causing new AMD cards to drop 30% hash rate due Take a look at the Ethereum difficulty chart and the Ethereum Mining is Dead: Price Drops, (the difficulty in which Ethereum mining is The difficulty improve and drop in the cost of Ethereum has slapped us a On August 4th Stephen Tual wrote about the network's difficulty By those numbers it looks like Ethereum Actually probably a lot sooner as miners will drop Ethereum difficulty bomb discussion - BBT of the Ethereum Network Difficulty that is hashing power to drop off from the difficulty Small-scale Ethereum miners are now selling their GPUs, as the currency's price drop, plus an increase in mining difficulty make it harder to make a profit. Ethereum mining is getting more difficult, with the value of the currency's value hitting a 50 day low of under $200 and miners reporting a new difficulty spike In my previous articles I have talked a lot about AMD P Continue reading >>

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