New Bitcoin-mining hardware may increase mining profits by 30%, claims the Indian scientist, Rakesh Kumar.The core concept of the machine is to capitalize on the limitations of existing mining equipment by detecting false positives and mitigating error propagation.Mining Bitcoin requires a substantial amount of electricity and computing power.Leading mining firms and miners often utilize expensive mining hardware such as ASIC (Application-specific integrated circuit) chips to mine blocks of transactions.However, the mining difficulty of the Bitcoin network has surged at a rapid pace over the past few months, making it much more difficult for miners with expensive equipment and sophisticated mining infrastructure to profit from Bitcoin mining.Recently, Bitcoin mining difficulty reached 163,491,654,908.95925903, recording a 13.44% increase from its previous rise.With that being said, Bitcoin blocks have become 163 billion times more difficult to mine than the minimum difficulty of 1 back in January 2009.

As Bitcoin-mining continues to increase in difficulty and create competition within the Bitcoin-mining community, miners have begun to struggle to keep up with the big players in the industry which operate mining establishments in colder regions, including Iceland and Georgia.Since these mining firms use the colder temperatures in their regions to cool down their mining equipment naturally, they have a significant advantage over other miners and mining firms operating in warmer regions such as Asia and South America.dogecoin dogeEarlier in February, a group of scientists and researchers, led by Indian scientist Rakesh Kumar, recognized this issue with Bitcoin-mining and introduced a new Bitcoin-mining hardware called “Approximate Hardware.” According to Kumar’s report, this machine improves the Bitcoin-mining process and increases mining profits potentially by 30%.stolen bitcoin private key

“We exploit this inherent tolerance to inaccuracy by proposing approximate mining circuits that trade off reliability with area and delay.These circuits can then be operated at Better Than Worst-Case (BTWC) to enable further gains.Our results show that approximation has the potential to increase mining profits by 30%,” read the report.devise bitcoin euroSuch efficiency in the mining process allows miners to maximize their profit.bitcoin computer kaufen“Bitcoin mining is a particularly good candidate for approximation because its parallelism mitigates error propagation and a built-in verification system detects any false positives.litecoin euroFurthermore, we have identified adders as beneficial choices for approximation in hashing cores in a mining ASIC.bitcoin preis 2014

However, not all approximate adders yield increases in profit.Profits are maximized by adders that minimize delay at the expense of area, and approximate adders should be chosen accordingly.Moreover, profits may be improved by operating the hashing cores at Better Than Worst-Case (BTWC) operating points, past their nominal frequencies,” continued the report.First off, if you're wondering what bitcoins are, Learn more here.Building this project will allow you to use a Raspberry Pi as a 'headless' controller and status monitor for your USB bitcoin mining devices.The project incorporates an LCD to display hashrate, error rate, share data, network difficulty, mining duration, & current exchange rates.What you'll need: Raspberry Pi + SD Card running Raspbian configured for network access Adafruit 16x2 LCD + Keypad Kit (any color style will work) assembled & installed I2C, & Adafruit Pi Code libraries installed on Pi USB Bitcoin Mining Device Powered USB Hub (needed for USB powered miners) - most hubs can power up to 4 of these miners (others may use more or less current).

You can always get more hubs, one for every 4 miners!Mining Pool Account (Login/Password) Your Computer (for configuration and setup) Before you start this tutorial you'll need a fully working Pi with network setup and also an assembled Adafruit LCD Pi Plate.For help with initial setup, check out the following tutorials: Lesson 1.Preparing an SD Card for your Raspberry Pi Lesson 2.First Time Configuration Lesson 3.Network Setup Lesson 4.GPIO Setup Adafruit 16x2 Character LCD + Keypad for Raspberry Pi When you've got all that working, come back here!A note about USB mining devices At the time of this writing, dedicated bitcoin mining hardware can be somewhat hard to find, but they are becoming more common as next generation ASIC-based devices are released.A number of open source projects and related info can be found in the BitcoinTalk forums.For this tutorial I'll be using ASICMiner Block Erupter USB devices.Though this tutorial uses details specific to the Block Erupter USB, a few small modifications should make it work with any hardware compatible with cgminer v3.1.1

Guide for Bitcoin & Litecoin mining by Janika Kouki If you are looking to mine Bitcoins or Litecoins with Minergate pool, here are some useful instructions from the member of our team Janika.My name is Janika and I am very fresh in the world of cryptocurrency.I have never tried to mine one of the “major” cryptocurrencies and today I want to prove you that it is not that difficult even for a novice.Just put your mind to it, I will do my best to help you.First of all, you need to know that your mining performance will depend on your hardware.Litecoin and especially Bitcoin require powerful resources to be mined profitably.There are several possibilities to choose from.First of all, you can use the hashing power of your CPU (central processing unit) or GPU (graphic processing unit), by which I obviously mean graphics card.It is safe to say that you will get better results using the latter, but of course you are free to experiment.The third option appeared in 2013 when hardware developers from China released first ASICs (application-specific integrated circuits) to mine Bitcoin even faster.

Simply put, an ASIC is a microchip that makes the required calculations extremely quickly.The first cryptocurrency became quite famous in 2011 when Bitcoin reached the price of about $1000.More and more miners joined the network, the difficulty rose and you could run your hardware for weeks without being able to find a single block mining solo.It was a waste of power and money, so miners started to gather into mining pools.MinerGate is one of those mining pools.The miners form a network to combine their computing  powers and have a better chance to find a block.The reward is then spread evenly between the participants of the pool depending on the hashes sent.The more powerful hardware you have, the more hashes you will send.The competition is very high, so I strongly advise you to do some research before you start mining any of the coins.There are lots of forums where miners share the results they get, you can also create a topic on our forum and discuss the possible outcome for your hardware.

The producers of ASICs usually mention the potential hashrate on the package.I can also advise you to visit the pages with hardware comparison: Miners often ask me how to set up Bitcoin or Litecoin mining on our pool.Well, here is the answer.Bitcoin mining is available on MinerGate in a form of cloud mining contract.It means that you are leasing the power to mine Bitcoin and don’t set up anything yourself.We’ve covered more on the subject in one of the blog posts.You can create a contract on this page.Download a miner that supports Litecoin mining.There are lots of programs available with console or graphic interface.Your final choice depends only on your personal preferences.Connect to MinerGate pool using this address: 3.The settings may vary depending on the miner, there is no universal recipe here.Usually you can find the information on the website/forum thread where you download the application.Your pool login is the email for your MinerGate account.Instead of password, just enter x.

In theory it all seems relatively simple and clear.To prove that anyone can do it, I tried it myself in practice.l am writing this article on a simple laptop, which also became my testing mining rig.Maybe it’s not the perfect machine for mining purposes, although please remember that I do this purely for research.CPU is the only way to mine for me, so I needed to find an application for CPU mining.It wasn’t that hard: there are multiple solutions available.Of course, GUI miners are easier to use but I refused to cut the corners or look for an easy way, so I downloaded pooler’s CPU miner, which works in console mode.Chrome recognized it as a malicious software, so I went to the advanced settings and disabled protection provided.If you need to do it as well, don’t forget to reenable it after the download, as there are lots of phishing sites, better safe than sorry.At first, it was quite difficult for me to get used to command line interface, although I wanted to prove that any newbie can succeed with the right attitude.

I did my research and managed to figure out the settings.The miner I used provides help if you enter –-help, there you can find all the commands available.In my case, the settings looked like this: I pressed Enter and it worked!In a couple of minutes I got the first “yay!”, which means that I found a good share.It was one small step for Litecoin mining history and one giant leap for me.Q.E.D., I’ve proven it – a complete newbie like me with a regular laptop like mine can actually set up mining of one of the major cryptocurrencies.When the sense of wonder gave place to reason and I got a couple of “booos” (bad shares), I cooled down a bit and decided to calculate my potential income in the MinerGate’s Mining Profitability Calculator.The hashrate my laptop was able to reach for Litecoin was about 14-16 kH/s, which seemed really surprising at first as I could get only about 20-22 H/s for Bytecoin, for example.I entered my best hashrate (16 kH/s) and held my breath… What?

Only $0.00047 a day?Okay, still must be more than what I would make of 22 H/s on one of the CryptoNote coins.As you can see, I would have made about 20 times more mining the most profitable CryptoNote currency for that moment even if I had seemingly about 700 times less hashrate than mining Litecoin.What is the trick here?Different algorithms reach very different hashrates on the same hardware.Bitcoin is based on SHA-256, Litecoin is based on Scrypt and most of the coins from our pool are based on CryptoNote (technically, it’s CryptoNight and CryptoNote is the technology it is based upon).CryptoNote is a solid choice for CPU mining, GPU performance may vary.You can try for yourself and share your results with us.The developers deem the algorithm to be a base for egalitarian cryptocurrencies that anybody can mine, that’s why it is also ASIC-resistant.Read more about the technology on the official CryptoNote website.Hopefully, I was able to give you a rather comprehensive introduction to Bitcoin and Litecoin mining on MinerGate pool.