Category Archives: Cryptocurrency

BitCoin, LiteCoin, etc.

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Another Anti-ASIC Cryptocurrency Launched | NEWSBTC

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Days after Vertcoin forked its network to implement an anti-ASIC algorithm Lyra2RE, another cryptocurrency with similar objectives was launched. Named as Kryptohash, the new altcoin is promising new features against ASIC mining, one among which is a brand new POW algorithm.

KSHAKE320 The New POW Algorithm The new algorithm is aiming to reduce mining costs by completely eradicating ASICs from the picture. A small description of KSHAKE320 describes it as a new Proof-Of-Work algorithm (POW) based on the Keccak-F 1600 Sponge function in a mode called Extendable-Output (a.k.a. SHAKE). SHAKEs variable output makes it ideal for a Proof-Of-Work solution, as it can easily be configured to require large amount of memory which increases the computing cost to those attempting to perform large-scale ASIC attacks.

Incidentally, Vertcoin is also using the hash function Keccak in its chain algorithm, which also includes other algorithms like Skein, Groestl, Blake and Lyra2. However, the Kryptohash developers have implemented a 320-long mining hash, while Vertcoin uses the 256 one. Also, there is no mention of SHAKE in the Lyra2E whitepaper, which makes KSHAKE320 a truly unique algorithm thanks to handful of new features..

Mining Incentives The block solvers are promised to be paid a fixed 0.5% fee. The absence of ASIC mining will indeed eradicate mining monopoly, as the probability of solving one block would be same for each miner. The block difficulty will be adjusted every 100 blocks using a PID algorithm. Here is the block reward and fee structure listed on Kryptohashs official website.

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090 New Fashion ReadYourMind Bitcoin BrainWallet Telepathy CryptoCurrency Furry Comedy Art CCBP EEV – Video

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Not an April Fools joke: Hull launches its own cryptocurrency: "Hullcoin"

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Hull City Council have launched a new Bitcoin-style cryptocurrency in the city and yes, surprisingly, this isnt an April Fools joke. After making enquiries, the council have confirmed to me that yes, it is definitely real.

Stories started appearing yesterday which is usually a sign of greater credibility when youre writing something on the internet on April 1st. According to CoinDesk, the intention is to use the currency to tackle poverty.

Apparently the way it will work is by paying local people in Hullcoins for certain activities such as volunteering, and also accepting Hullcoins at local food banks (though Hullcoin allocation will not be dependent on volunteering it will be allocated based on poverty/need).

Whilst it may sound bizarre it just might work. The virtual coins wont have any impact on benefits received in real money because the currency is currently unrecognised by the UK government. Theres also the precedent of other local currencies like the Brixton Pound. Whilst the Brixton Pound is not a cryptocurrency (it is made of a quaint material known as paper), the idea with it is that it is issued and spent locally in Brixton to support the local economy. Hullcoin could end up playing a similar role.

On a technical level, the computer used to generated Hullcoins (the mining rig) has apparently been donated by an anonymous benefactor, and the currency is apparently based on two different mining scripts: Feathercoin and and Ven the use of a mixture being designed to create greater stability in the currency.

So itll be an interesting experiment and itll be interesting to see if the first government-backed cryptocurrency will turn out to be a success.

By James O'Malley | April 1st, 2014

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Not an April Fools joke: Hull launches its own cryptocurrency: "Hullcoin"

2015 to be the year of biometrics, wearables, cryptocurrency and streaming

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Coming to the end of 2014, it's time to start looking to what the year ahead may have to offer. After gazing into its crystal ball, Juniper Research has compiled a list of what it expects to be the biggest technology trends of 2015. Topping the list is a focus on security. Juniper Research predicts that there will be greater interest in encryption and tokenization, as cloud storage providers battle to regain customer trust.

The launch of Apple Pay will help to drive an increased interest in biometrics to help with security, but 2015 is also predicted to be the year that wearables really take off. Now that Apple has entered the arena, there should be a greater focus on aesthetics and smaller players will increase in popularity. Tied in with both security and wearables is a predicted jump in the use of NFC -- for payments, authentication, health and more.

Juniper Research's white paper suggests that 2015 will see a marked shift to the consumption of media through streaming services. This is thanks in part to mobile data bundles, and it is predicted that the digital download market "will begin its collapse". There has already been something of a movement towards streaming rather than downloading, so this prediction is not entirely surprising. The same is true of the suggestion that cryptocurrency payments -- such as Bitcoin -- will increase in popularity, again tied to wearables, security and NFC. Perhaps what 2015 is really going to be about is the interoperability of devices and services.

The much-talked about drone is likely to continue to hit the headlines. More than just a system of surveillance, these devices are likely to be widely adopted as delivery systems and used more in filming thanks to a huge drop in prices.

A prediction that will please many is one that suggests that budget smartphones, tablets and phablets will really take off in 2015. We've seen the battle at the top end of the market, and now attention turns to the other end of the scale. This is going to develop into a buyers' market, so we should see some great development in the realm of the budget device. Rounding off Juniper Research's visions for next year are predictions that indoor location awareness will increase in importance, as will web integration and deep-linking of apps.

Photo credit: Vjom / Shutterstock

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2015 to be the year of biometrics, wearables, cryptocurrency and streaming

087 CryptoCurrency Bitcoin CreativeCommons IntellectualProperty Innovation EEV CCBP SoulTradeGame – Video

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