Mining Einsteinium EMC2 Cash With Gpu
Dec 21, 2017 at 7:47AM With just over a week left to go before the calendar shifts to 2018, I believe it's pretty safe to say that cryptocurrencies absolutely whooped traditional equities this year. Whereas the stock market has historically returned 7% a year, inclusive of dividend reinvestment and adjusted for inflation, and the S&P 500 has handily surpassed that level this year, cryptocurrencies as a whole have left stocks eating their virtual dust. Cryptocurrencies make their presence known When the year began, the combined value of all investable cryptocurrencies was just $17.7 billion, with bitcoin making up the vast majority of this market cap.
The Einsteinium Foundation (EMC2). The mining of Einsteinium is divided into Epochs. The difference between Bitcoin and Bitcoin cash December 20. EMC2 being bought by Apple This is the current rumor going around -edit 'it is not true' If you'd like to buy. The mind-blowing announcement anticipated from EMC2 came. Which would make mining resistant to ASICs: “Einsteinium Foundation has decided to. Bitcoin Cash.
But as of Dec. 19, the combined market cap of the more than 1,360 cryptocurrencies hit as high as $642 billion. That's a better than 3,500% increase in cryptocurrency market value in less than a year, which is a bigger increase than some investors will see throughout their lifetimes. Image source: Getty Images.
Blocks that show up in your wallet when mining then disappear are orphans, correct? Also, is there a way to reduce them? Einsteinium – EMC2. 2017 No Comments on The difference between Bitcoin and Bitcoin cash. Cryptocurrency, wallets, exchanges, cloud mining services.
Bitcoin obviously gets a lot of credit for this push higher. It is, after all, the most popular virtual currency in the world, and the coin most likely to be accepted by merchants as a form of payment. This year, we saw the commencement of futures trading in bitcoin on multiple platforms, as well as Japan welcoming the cryptocurrency with open arms as a legal and regulated form of tender. Bitcoin comprises close to half of the aforementioned aggregate market cap of digital currencies. Yet the real story this year isn't the ascent of bitcoin, which has actually underperformed relative to its peers. Instead, it's all about those virtual coins viewed as '.' When the year began, the aggregate value of all digital currencies, excluding bitcoin, was a mere $2.24 billion.
19, it was as much as $321 billion -- a 14,200% increase! This is where the real value creation has taken place in 2017. Say hello to a unique virtual currency up more than 201,000% in 2017 While a lot of attention has been placed on burgeoning cryptocurrencies like Ethereum and Ripple, both of which have risen by more than 10,000% year to date, their gains to a unique virtual coin that's come out of practically nowhere to surge 201,000% since the year began. Ladies and gentlemen, say hello to Einsteinium and its aptly named coin, EMC2. EMC2 began the year valued at just $0.000875 per coin.
It wasn't even worth a tenth of one cent. 19, its value had increased to $1.75 per coin (and it was actually above $2.50 recently) -- a gain of more than 201,000%.
Image source: Getty Images. Like most virtual currencies, Einsteinium has a token -- EMC2 -- that's tied to its, which is the digital and decentralized ledger used to record transactions. But make no mistake about it, the mission of the Einsteinium Foundation, which guides the direction of Einsteinium's development, is like no other cryptocurrency.
Einsteinium's mission is to be a charitable fund for scientific, technological, educational, and blockchain-based studies. It uses a similar proof of work algorithm to that of bitcoin, but is the very first research-focused nonprofit organization in the crypto market space. The 411 on Einsteinium's research projects and block rewards How is this research funded, you wonder?
Every time a block reward is paid out to miners for having proofed transactions, the foundation receives 2.5% of that reward. Of that reward, 80% goes toward funding scientific research, with the remainder heading to donations and marketing. The foundation notes that 16 million EMC2 coins have thus far been contributed for science projects. Like most cryptocurrencies, these block rewards (paid out in EMC2 coins) shrink over time. This would appear to suggest that mining EMC2 would become less profitable and enticing over time. But there's a solution in place that keeps miners interested: wormhole events.
These wormhole events are random lottery-like EMC2 coin payouts (2,973 EMC2 coins per block) that are given to miners for proofing a block. They're designed to become more prominent as the standard block reward declines over time. What's more, if EMC2 increases in value over time, these wormhole events could prove more profitable for the miners than standard block rewards. Image source: Getty Images. According to the foundation, every 36,000 blocks built into Einsteinium's open-source ledger equates to what it calls an 'epoch.'
It takes about 25 days for each epoch to be completed, according to CoinCentral. Minare Bitcore BTX Cosa Significa. com. Once an epoch is complete, members of the community are asked to vote on what project they believe demonstrates the most potential.
The chosen project is the one that the Einsteinium Foundation funds. The recent buzz behind Einsteinium's stellar year Now that you have a better of idea of what separates Einsteinium from a typical virtual currency, let's have a closer look at what's been driving EMC2 coins higher of late. In October, the foundation announced the implementation of a hard fork, which was designed to reduce the number of EMC2 coins by 55 million. This hard fork was completed on Dec. 10, and it reduced the maximum supply of EMC2 from 300 million to 245 million. Why the excitement?
Think about this in terms of a company repurchasing shares of its own stock. Buying back stock reduces the number of outstanding shares, thereby increasing the value of each remaining share, which is now scarcer. The same ideal applies here -- each virtual coin is now scarcer, which presumably makes EMC2 more attractive to investors. Image source: Getty Images. Even more recently, rumors were flying about a 'big announcement' from the Einsteinium Foundation. A few speculators believed it might be a tie-up with Apple, but the foundation quickly threw those rumors out the window. However, on Dec.
19, the foundation announced a second fork is upcoming. This time, Einsteinium will be changing the mining algorithm for the EMC2 coin in order to make it ASIC resistant and GPU friendly.
ASIC, or application-specific integrated circuit, is what's used to mine bitcoin, and it requires a hefty upfront investment before mining can begin. Comparatively, GPU's, or graphics processing units, are comparatively cheaper and allow most anyone to get involved with mining cryptocurrencies. In short, the foundation is ensuring that anyone who wants to mine will have an opportunity to do so.
Nonetheless, it remains to be seen if Einsteinium, which currently is the 50th largest cryptocurrency by market cap, can maintain its 201,000% gains in the weeks and months to come. Considering the enormity of the move and the lack of understanding of what cryptocurrencies are and do among the public, a significant pullback may well be in order.
This year, cryptocurrencies are demonstrating their financial prowess as they rapidly increase in value. With a total market cap of more than $500 billion, this vast ecosystem is loaded with digital currencies that are more valuable and more usable than ever. What’s not considered on these charts is the creativity embedded in some of these coins. Although it’s currently priced at just $0.92 USD, which doesn’t place it anywhere near the most valuable cryptocurrencies, deserves recognition for creativity.
EMC2 began the year valued at just $0.000875 per coin – not even worth a tenth of one cent. 24, its value had increased to $0.92 per coin — a gain of more than 100,000%.
The Einsteinium Foundation’s mission is to raise funds for scientific research. First launched in 2014, Einsteinium is a unique cryptocurrency that combines the standard p2p ambitions with a philanthropic underpinning that strives to fund scientific research through its platform. It uses a concept that is similar to Bitcoin, and, aside from the popularity difference, it operates in much the same way. In essence, Einsteinium is a combination of Bitcoin’s technological capability with the ethos of a charity. A New Fundraising Model Einsteinium runs on the Proof-Of-Work scrypt algorithm. The total amount coins that will be in circulation after the mining is 299 million coins (after 730 Epochs). Einsteinium’s methodology is simple but is pretty compelling.
Their coin, EMC2, is a tradeable digital currency that has soared in value this year. Throughout its first two years, EMC2 traded at a fraction of a cent. In other words, it was a functionally worthless currency.
However, the crypto boom of 2017 has extended to Einsteinium as well. In November, EMC2 began an unprecedented climb that ultimately led its value past $2.50, though with the recent, it is now trading for around $0.92 USD. This is good timing — on March 1 st, launched the Einsteinium Foundation, which is an officially registered non-profit in Canada, and it’s one of the first NPOs in the crypto space.
The funding mechanism for this nonprofit is built into the crypto mining process. Of the fees generated by mining EMC2, 0.5% goes to the organizations fundraising costs while another 2% is directly contributed to funding for scientific research. Interestingly, the mining community has an opportunity to vote for the projects that they want to fund. Funding is accrued in Epoch cycles, which are the approximately 25 days that it takes miners to build 36,000 blocks onto their public ledger. At the completion of each Epoch, miners have the opportunity to vote on the projects that they will support with their funding.
A Unique Approach to Crypto Mining As of September 2017, the Einsteinium Foundation decided to remove the ‘Wormhole’ feature from the coin which reduced the total supply by 55075320 coins. Uses a reductive approach to mining rewards.
Essentially, as more blocks are mined, the reward for doing so becomes less. Prior to a September 2017 hard fork, Einsteinium used a unique approach that they have dubbed a “wormhole event” in which a random event within each Epoch rewards a miner with a significantly higher than normal reward. Therefore, while the general payoff lessens over time, the possibility of a wormhole reward should incentivize participants to continue to contribute their computing power to maintaining the blockchain. Additionally, to help invigorate their currency, Einsteinium recently implemented the September 2017 hard fork that reduced EMC2 supply by 25%. This can be perceived as a strategic move to enhance Einsteinium’s value at this critical time, but it can also be interpreted as a last-ditch effort to shore up the currency’s value after years of stagnation. Differentiating the difference between these two motives is one of the most tenuous aspects of the platform. A Shotgun Entry into the Future As of December 24, 2017, Einsteinium has a market cap of ~$200 million.
Einsteinium has robust plans for its future that don’t inherently correlate to their fundraising vision. For example, since Einsteinium has many of the same qualities as Bitcoin, they see its future adoption in p2p or even integrated ecosystem transactions as a vital part of their future. After a on December 19 th failed to deliver the excitement and forward-thinking developments that users had hoped for, the currency dropped nearly 40%, swaths of confused investors filled chatrooms, forums and Reddit with their misgivings. The announcement revealed Einsteinium is updating its mining algorithm to make it ASIC resistant and to make it more GPU friendly, which will help its mining become even more decentralized. Although many of their community members expressed frustration with the announcement, Einsteinium maintains that the change reflects emerging best practices in the industry and ensures that their research-enabling platform is utilizing the latest research and technology to mature the platform.
While the past two months are exciting for Einsteinium and its supporters, it’s difficult to tell if EMC2 is taking off on its merit or if it is merely reflecting the general enthusiasm surrounding cryptocurrencies. Regardless, combination of currency and philanthropy is a novel idea, and it’s unlikely that they will be the last project to produce an iteration of this concept. I would like to know if the crowdfunding platform for scientific research is open to the public? Because i would like to suggest topic for scientific research.
I also would like to know if there is a full list of research that already being funding by Einsteinium fundation? And if as counter party from fund form the fundation, there is the obligation to scientist to publish results in free access newpapers/websites (and ideally all the softwares and all material produced for the research) because it is such a plain in the ass for those would like to read scientific paper to have to such expensive price to get access to papers publish.
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