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Established in - 2017. Server locations - China. Minable assets - BTC, BCH, LTC, DASH, ETH, ETC, SC, XMC, ZEC, BTM. Reward strategy - PPS+, PPS, PPLN, SOLO.

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Bitmain Crypto Mining Juggernaut is Facing an Uncertain Future With Ongoing Crypto Bear Market

It's usually not good news to hear that members of a company's leadership will step down, for any member of a tech company, it would be a death sentence for its share value. But for Bitmain, not one, but two will be stepping down. More specifically, Jihan Wu and Macree Zhan Ketuan, who have both announced that they will be stepping down. A bit of Context on Bitmain The co-founders that are now stepping down had initially founded the company back in 2013. Both founders boasted a good level of experience academically speaking, with Jihan Wu working as an equity fund manager, while Ketuan had previously sought to raise funds for a video streaming business. It was during the bullish year of 2013 that the first cryptocurrency mining hardware – Antminer S1, setting Bitmain on an upwards trajectory. While 2014 brought with it a number of setbacks, with the continuation of hardware development and production helped to stabilize Bitmain in the wake of the crash of Mt. Gox. By 2017, Bitmain managed to successfully land over $3 to 4 billion worth of revenue over the period, managing to outpace its more well-known rivals such as Nvidia. Bitmain has since announced in 2018, that it will be pushing into the world of Artificial Intelligence. The Lay of the Land – Bitmain's Decline During the latter half of 2018, the two mining pools that Bitmain operates in alongside AntPool and BTC.com, with bitmain contributing 41 percent to the total marketing share. This sounds like a good segment of the pool, however, if we zip forward to January 2019, this has declined dramatically, down to 23 percent. The bear market, as we can see, is wreaking havoc on Bitmain and its market share, with the bearish year causing some lasting damage to the mining company. Bitmain's Slashing at Staff Internationally One of the other the major signs that Bitmain is struggling is down to a report made by South China Morning Post on Dec 26th, which announced a significant number of job cuts in Hong Kong. The announcement read: “A part of [building a sustainable business] is having to really focus on things that are core to that mission and not things that are auxiliary. As we move into the new year we will continue to double down on hiring the best talent from a diverse range of backgrounds.” While the number is not disclosed by the Hong Kong branch, it's not isolated to S.E Asia, with Israel being another hit by losses. Bitmain's development center based in Israel would officially close Bitmaintech, resulting in the firing of 23 former employees. Bitmain IPO now has Class-Action Lawsuits on the Horizon In addition to the growing issues that it has in a now bearish market, along with dismissals, cutbacks to staff and international departments, Bitmain is now looking down the twin barrels of class action lawsuits. One of the first suits filed against Bitmain was in California by Gor Gevorkyan due to the hardware he purchased proving overly difficult to configure over time, as well as lapsing for ‘a substantial amount of time.' This caused Gevorkyan to launch and use the Antminer at full power at his own expense. The plaintiff is seeking $5 million in expenses on behalf of a wide range of clients of Bitmain that may have suffered the same issues. The second being launched by UnitedCorp, which filed a legal suit on December 6th, with Bitmain being part of the legal action alongside Roger Ver, Kraken and Bitcoin.com. All of which were incriminated in the possible takeover of Bitcoin Cash (BCH) during its hard fork in November.
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New Long Hash Research Shows Bitcoin is More Decentralized Than Ethereum and Bitcoin Cash

Cryptocurrency decentralization is a major pillar for the digital currency developers. This is why the topic has seen quite a number of crypto enthusiasts and analyst do keen research over the past. Long hash research is among the latest players to share its research stats on the decentralization perspective for Bitcoin, Ethereum & Bitcoin Cash. Based on the findings, Bitcoin appears to be more decentralized than its counterparts ETH and BCH. This is mainly caused by the mining pools percentage control of the hash rates within these network ecosystems. The SparkPool_3 & Ethermine Dominance Within The ETH Network Research done by Long Hash shows that the two mining pools are in charge of more than half of the hash rates within Ethereum’s network. This would simply mean that the ETH altcoin is in a way leaning towards centralization as opposed to decentralization hence almost similar to XRP. Basically, pools that can leverage stronger hash rates are bringing a centralization effect to the nature of crypto coins. Bitcoin Cash, on the other hand, is more centralized that Ethereum. Statistics show that the two mining pools (BTC.com & BTC.TOP) control almost 55% of the hash rates within the BCH ecosystem. These stats may shed new light into a crypto world that the decentralization aspect is gradually being compromised by powerful mining machines. Bitcoin’s stats are more attractive than those of its peer competitors. The number one crypto has been on an improvement journey since mid-2018 when 41% of its hash rate was dominated by Bitmain to 29% at the time of research. Two of Bitmain’s mining pools that facilitate this dominance are Antpool & BTC.com. Back then, stakeholders had started to raise concerns about Bitmain’s potential to control over 51% of BTC’s hash rate arguing that it would pose a risk for network participants. In addition, Bitmain’s performance was on the downtrend in the past 30 days after most participants opted for other mining pool providers within the market. If the company had actually controlled over 51% of BTC’s proof of work consensus, they would be able to confirm fraudulent hash rates. Therefore, the risk attributed to a digital asset like BTC would even be more owing to the veto decision. Over time, crypto mining has evolved with companies moving in to dominate the networks. Initially, mining pools were well distributed but this has changed as the likes of Bitmain seek more market dominance. However, crypto’s market dynamics are yet to support a dominant player within a specific network given their volatile nature.
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Bitcoin less Centralized Compared to Ethereum and Bitcoin Cash- Long Hash Research

As per the finding of this research, it was concluded that Bitcoin was less centralized compared it to its peers, Ethereum and Bitcoin Cash. Long hash research was trying to look at Bitcoin’s recent mining pool and was comparing it to those of two other major cryptocurrencies, Bitcoin Cash and Ethereum. Ethermine and SparkPool_3, control more than 50% of the total Ethereum network hash rate According to the research put forward by LongHash, Ethereum too now has two miners that control over 50% of Ethereum hash rate. While XRP is always blamed of being a centralized token, mining pools with strong hash rates seem to be making a lot of other top coins fall under that category. For Ethereum, while there are quite a few different mining pools, just two of them, Ethermine and SparkPool_3, controlled more than 50% of the total network hash rate. The findings found Bitcoin Cash to be even less decentralized. The top two pools for Bitcoin Cash, BTC.TOP and BTC.com, were found controlling more than 53% of the total hash rate. Comparing this with Bitcoin, only 29% of hash rate was in the hands the top two mining pools which happen to be BTC.com and Antpool. It was surprising to Bitcoin slowly getting more decentralized as back in June 2018, BTC.com and Antpool managed 41% of Bitcoin’s total hash rate. At that rate, a lot of analysts and investors had pointed out this high hash rate control was a point of concern because the two pools are owned by the same company (Bitmain). This meant that a single entity was close to controlling 51% of the network’s hashing power.   Also, it is well observed that in just the last 6 months, Bitmain’s mining pools have lost 28% of their market share, marking a shift toward greater decentralization of BTC mining. This analysis holds significance as on proof-of-work blockchains, a pool or a company that commands a 51% hash rate gets the power to confirm a false transaction. This authority that culminates into a possible attack has a very negative impact on the value of the token In the early days of Bitcoin’s growth, mining was more distributed. As digital currency continued to grow, mining became more lucrative hash rates stated increasingly concentrated in the hands of several large mining pools. Although the turbulent nature of the industry has confirmed that even the larger mining pools have a hard time holding on to their power. Will this centralized nature of mining pools ease out as cryptocurrencies mature? Do let us know your views on the same. The post Bitcoin less Centralized Compared to Ethereum and Bitcoin Cash- Long Hash Research appeared first on Coingape.
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Blockchain Insight 2019: Top 81 Crypto Projects Disrupting the Blockchain Ecosystem

Chinese oldest bitcoin social media site 8BTC has released 7 top lists related to the crypto space at the Blockchain Insight 2019 conference on Jan 4 (GMT+8), the day the genesis block of bitcoin was mined ten years ago. The continuous blockchain fever has bred a large number of highly creative entrepreneurs and projects. They are becoming the future power and frontier walkers, pathfinders and disruptors of the time. To this end, 8BTC, along with TokenInsight, a China-based crypto ratings agency, creates 7 top lists covering crypto exchanges, wallets, investors and more, in an effort to discover high-quality projects and prove their value with precise data, furthermore to instill spiritual strength to the industry amid the crypto winter. The ratings team is claimed to have gone through more than 2000 whitepapers, by adopting project classification system methodology and Ti-Dashboard monitoring system. 81 projects stood out among 2000+ candidates from all over the world, from decentralized platforms to discerning investors. Most valuable decentralized platforms: Ethereum, EOS, NEO, TRON, Qtum, Nebulas, Tezos, ICON, Lisk, Cardano, Aelf, Quarkchain Most valuable exchanges: Coinbase, Binance, Huobi Global, OKEx, Bitfinex, Bithumb, Kraken, KuCoin, Liquid, Bibox Most valuable mining pools: Antpool, F2pool, BTC.com, ViaBTC, BTC.TOP, Slush Pool, Poolin, Ethermine, Dwarf Pool, Huobi Pool Most valuable wallets: Cobo Wallet, Qbao Network, BitKeep, Kcash Wallet, Math Wallet, Freewallet, HB Wallet, BlueWallet, MEET.ONE, Nano S, KeepKey, imToken, Bitpie, Model T, Secrypto, ONE Most promising teams: Bitcoin, Ethereum, CyberMiles, Augur, ReddCoin, Ontology, Aion, KuCoin Shares Best-performed blockchain apps: VeChain, Factom, SingularityNET, Golem, Cortex, Wanchain, Bytom, Populous, Stratis, Cindicator, Basic Attention Token, Theta, Status, CyberMiles, Syscoin Discerning investors: Pantera Capital, Node Capital, FBG Capital, Fenbushi Capital, 8Decimal Capital, Danhua Capital, Matrix Partners China, ZhenFund, Draper Dragon, NEO Global Capital At the event, a lineup of heavyweight speakers and crypto entrepreneurs have presented, including 8btc and Bytom founder Chang Jia, Bytom founder Duan Xinxing, Bitmain founder Wu Jihan, Huobi founder Li Lin, imToken founder He Bin, Hyperchain CEO Li Wei, Ontology founder Li Jun, and more KOLs. The year 2018 and the dawn of 2019 have seen cryptocurrency in the throes of winter, bringing down numerous projects, businesses and investors, but it is also separating the professionals from the amateurs. Though it hurts now, insiders all believe crypto winter will help the industry be healthier and stronger in the long run. As Jiang Chun, a presented speaker from Puhua Capital, commented, “Investors aren’t giving up on crypto, but the industry needs to prove itself”.
8BTC

Bitmain’s Bitcoin Hashrate Decreases to 25%, Industry Reshuffle May be Ahead

The China-based crypto mining giant Bitmain has contributed only 24.8 percent of the bitcoin network hash rate in the past three days, according to btc.com. Though still on the top of bitcoin hash rate distribution, the two leading mining pools under Bitmain, BTC.com and AntPool, control only 24.8 percent of the total bitcoin hash rate in these days, decreasing almost 20 percent from its all-time high. Six months ago in mid-2018, the figure reached a high of 43.9 percent approaching the dreaded 51% threshold, which triggered concerns that Bitmain might stage a 51% attack. According to the bitcoin hash rate distribution, F2Pool has surpassed AntPool to be the second largest mining pool, running close after BTC.com with only 1.1 percent gap; SlushPool, with 11.26 percent of the network hash rate, ranked tied for third with AntPool. It shows that the gap between the top five mining pools is narrowing. The BTC hash rate distribution between the major bitcoin mining pools becomes more averaged, whereas the hash rate of BCH is highly concentrated, with BTC.top controlled 50.2% of the BCHABC network hash rate at some point of the day. It seems that the BCH hash war has some good for the Bitcoin community, at least the mining sector is becoming less centralized as it was before. With major companies exit crypto mining business, another reshuffle of the mining industry may be ahead. It has been 10 years since the bitcoin genesis block was mined on Jan 3 2009. In the past 10 years, 556,780 blocks have been mined, and nearly 400 million transfers have been completed. Mining award has been halved twice in 2012 and 2016, respectively, and 1,800 BTC are produced every day. Compared with that of 10 years ago, the difficulty of mining has increased by 10 trillion times, and block size was 205.15GB, with an average daily increase of 130MB. The total number of nodes has reached 10,236, double that of 2017.
8BTC

51% Attack Might be Approaching Bitcoin Cash Network, and Here’s Why

CoinSpeaker 51% Attack Might be Approaching Bitcoin Cash Network, and Here’s Why According to the data from Coin Dance, China-based private entity BTC.TOP took over as much as 50.2% of the entire Bitcoin Cash network and contributed the hashrate of 679 Peta-Hash per second against other major competing pools including BTC.com (257 PH/s), ViaBTC (215 PH/s), AntPool (125 PH/s), and Bitcoin.com (187 PH/s). While it could happen due to various factors, it did show how the BCH network is actually very prone to a 51% attack scenario as well as how centralized it is. The Roger Ver-led blockchain project has been criticized by Bitpico before for failing a “stress test”. Evidence showed that 98% of all the Bitcoin Cash nodes were sitting on the same server rack which exposed the coin to seizures and security threats. Moreover, Alex Simons, the identity division chief at Microsoft, recently found out that increasing block size was a threat to decentralization and solutions like Lightning Network. He said: “While some blockchain communities have increased on-chain transaction capacity (e.g. block size increases), this approach generally degrades the decentralized state of the network and cannot reach the millions of transactions per second the system would generate at world-scale.” Just for a reminder, Bitcoin Cash, which forked from BTC in August 2017, was set to undergo its own hard fork in the middle of November. In anticipation of the free coins that would be produced in the split, investors began hoarding BCH, driving the price up double digits in the span of several days. However, rather than waiting until the split to occur, the market responded with uncertainty and confusion, leading to a sudden sell-off in BCH which plummeted the coin’s price. The severe correction for BCH extended to the majority of the market, leading Bitcoin and altcoins to suffer in the fallout. The week that followed BCH’s hard fork, splitting the coin into Bitcoin ABC and SV, led to even more contention in the marketplace with the “hash war” that was spawned. The market responded predictably, falling to even lower prices and leading BTC to its worst month of losses in seven years. According to a report out of Bloomberg, investors were stockpiling BTC just ahead of the most recent market crash in November, a movement that could have been catalyzed by the actions of Bitcoin Cash and its contentious hard fork from Bitcoin SV. Bitcoin was showing signs of renewed popularity just before it suffered its worst monthly price drop of the year in November, according to data released Wednesday by researcher Chainalysis. It found Bitcoin’s 30-day moving average of flows to personal wallets was on the rise, surpassing $400 million by Nov. 1 from less than $300 million in June. However, it seems quite obvious that the Bitcoin Cash team should upgrade their capability to ensure their network can’t easily be controlled by a single entity. Since in a worst-case scenario, if mining pools decide to combine their hashrate output, they will be powerful enough to reverse confirmed transactions, prevent transactions’ confirmation or perform double spending, as how it happened with Bitcoin Gold last year. As a reminder, Bitcoin Gold’s network experienced a 51% attack for a couple of days, during which the attackers successfully stole around $18 million worth of BTG tokens. At the end of the last year, Bitcoin’s mining difficulty has dropped more than 9 percent as the fallout of the prolonged market rout continues. Despite a recent recovery that has taken bitcoin above $4,000, miners are still finding it difficult to remain profitable. 51% Attack Might be Approaching Bitcoin Cash Network, and Here’s Why
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
Coinspeaker

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust https://www.altcoinbuzz.io/crypto-news/finance-and-funding/leading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust/?fbclid=IwAR2AlAU_C_8Mm9CUm2hDci0pmdW3pvLzphS-BSy888SzDptaXMeifxZgJ1I Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) https://www.cryptoglobe.com/latest/2019/01/crypto-investment-firm-grayscale-launches-fund-dedicated-to-stellar-lumens-xlm/ Grayscale Tweet https://twitter.com/GrayscaleInvest/status/1085904356635959297?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085904356635959297&ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fcrypto-news%2Ffinance-and-funding%2Fleading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust%2F Grayscale https://grayscale.co/stellar-lumens-trust/ BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading https://dailyhodl.com/2019/01/17/bitgo-ceo-says-institutional-money-in-crypto-can-easily-reach-trillions-of-dollars-as-company-launches-cold-storage-trading/ Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade https://www.bloomberg.com/news/articles/2019-01-16/crypto-s-billion-dollar-theft-problem-prompts-safer-way-to-trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople https://www.trustnodes.com/2019/01/17/ethereum-chain-splits-an-estimated-10-of-miners-stay-on-constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed https://www.altcoinbuzz.io/crypto-news/product-release/ethereum-upgrade-constantinople-hard-fork-delayed/ VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 https://www.newsbtc.com/2019/01/17/vaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019/ Nasdaq Tweet https://twitter.com/Nasdaq/status/1085522054559031296?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085522054559031296&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F01%2F17%2Fvaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019%2F -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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