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Kano / CKPool Bitcoin Mining Pool Review

May 2018 update – Kano/CKPool continues to stay alive, although in the two years since this article has invested nothing in it’s UI. Due to the rising difficulty rate, and the way that this pool treats small balances (ie it doesn’t pay out), it is not recommended in any way if you are mining on older ASIC hardware (less than several terrahash), GPU’s or CPU’s as your mining earnings will not be credited! A look at Kano.is / CKPool Mining Pool (originally published February 2016) Please  note: This review is based on a relatively small amount of hashing, a few hundred

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May 2018 update – Kano/CKPool continues to stay alive, although in the two years since this article has invested nothing in it’s UI. Due to the rising difficulty rate, and the way that this pool treats small balances (ie it doesn’t pay out), it is not recommended in any way if you are mining on older ASIC hardware (less than several terrahash), GPU’s or CPU’s as your mining earnings will not be credited!

kano-logo

A look at Kano.is / CKPool Mining Pool (originally published February 2016)

Please  note: This review is based on a relatively small amount of hashing, a few hundred ghs. The stats outlined in this review may not apply to larger miners. We hacked our antminer S1’s to mine nine pools concurrently, letting us run proportional power across a wide variety of mining pools. This review is part of our series of bitcoin mining pool reviews.

CK Pool, also known as Kano.is pool is a bitcoin mining pool co-created by the developer of CGMiner, the software behind many bitcoin mining softwares, and hardware. Our own review rig uses it to connect to the pools we test with here. At time of publication, it has a small percentage of the overall network, mining a couple of blocks a day.

The mining pool has a rather poor interface, but nonetheless has been able to capture a varying amount of mining power (fluctuating between 9 and 20 petahashes over a few weeks prior to this review).

Kano offers two types of ways to connect. Firstly, they operate a solo pool, where you can point your miner to it, and if you are lucky to find a block, get all of the block reward, less a 0.5% fee. However, for our review, we will be looking at the pool which operates a Pay Per Last N Share (PPLNS) model. They only mine bitcoin, with no merged mining.

What is starkly obvious about the pool is it’s poor user interface. The pool functions, but the UI leaves a huge amount to be desired, to the point of frustrating. Your account will time out after a few minutes, meaning that I had to regularly re-log in. The screens are simple to the point of ridiculous in 2016, with really basic graphics. Everything is static, so there is no updates in the screen in any of the interfaces. Also, it is very difficult to use the earning screens, given that most of them just point you to a wallet address, and tell you to find the transaction you got paid in by manually searching for your bitcoin wallet address. Compared to other (older) pools, this is rather disappointing to see.

That being said, the pool itself operates using a PPLNS system and a 0.9% fee, and at time of writing uses a multiple of five times bitcoin difficulty when calculating it’s rounds. It will pay a rate each time a block is found of 1/5 the value, and these are spread across shifts that last ~45-50 minutes, or when a block is found. The pool also shows an effective PPS rate, with 5 blocks found in a reward period being 100%, and this will fluctuate depending on how many blocks are found in the time. Once blocks mature after 120 confirmations, the reward is sent to your wallet.

On this, finding out the rewards is pretty annoying when compared to other pools. Rewards aren’t distributed from the coinbase like with the likes of Eligius, and there is no payout threshold, meaning lots of small payments, and no option to let it build up. Also, if your hashing power is too low, and your rewards per block are less than 0.0001 bitcoin, you will not get paid. I read that only once have they paid out this, so it’s a real disincentive if you are running minor amounts of bitcoin hashing power. Given what I said before about you being unable to set a payout threshold, this means you’ll just be wasting your hashing power. But even with 500ghs running there, we were getting well over that, so it’s only a case for really old or low hashing hardware.

Aside from poor statistics and interface, the pool does have 2FA for securing your account, but really other than that there isn’t much to this pool than that. No bells and whistles, just set up your account, and start mining with your worker, or point your bitcoin address to their mining address with a bitcoin address to mine anonymously. Given that the pool is developed by one of the people who has allowed bitcoin mining to flourish, you’d think the mining pool would have a more user friendly UI, but nonetheless the pool is solidly ticking away with a loyal group of miners, and getting a couple of blocks a day on average.

So in conclusion, CK Pool / Kano functions perfectly from the back end, but the front end leaves a lot to be desired. However, what they lack in looks, they more than make up with regular uninterrupted payouts. If you’re a very small scale miner, steer clear, but otherwise they’re there for people to try out who want to work using their PPLNS model, which is competitive against PPS mining pools, with a lower fee.

The CGMiner dev’s pool
  • Ease of Use
  • Payout threshold
  • Look and feel
  • Earning potential
  • Regularity of earnings
  • Security options

Summary

While created by one of the most respected developers in bitcoin, the pool has a poor interface for one made in 2015, and not being able to see basic things gives a disappointing user experience

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User Review

3.33 (9 votes)

Source: https://bitcoinsinireland.com/kano-ckpool-bitcoin-mining-pool-review/

Blockchain

Altcoins rally while Bitcoin bulls are thwarted by resistance at $34K

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Bitcoin’s (BTC) tumble below $30,000 was short-lived as the top cryptocurrency found a new wave of support, including a $10 million ‘buy the dip’ moment from MicroStrategy. 

Data from Cointelegraph Markets and TradingView shows the strong inflows have helped lift BTC 4.92% to a daily high at $33,866.

As the prospect of the Biden administration passing massive stimulus packages to help get the United States economy going again, conversations about Bitcoin becoming a reserve currency are beginning to pop up again.

Although Bitcoin’s recent volatility has some analysts saying BTC is a cyclical asset rather than a hedge, the price recent movements have caught the eye of retail investors who have shown a renewed interest in cryptocurrencies in general.

Daily cryptocurrency market performance. Source: Coin360

Even the Bank of International Settlements has acknowledged that digital currencies may have use and the organization has outlined plans to roll out a variety of central bank digital currency trials this year.

Now that the Bitcoin fear index has flipped from “Extreme Greed” to “Fear,” some investors appear to be taking Warren Buffet’s advice of “buying when there is blood on the streets”.

Institutional investors are wary of future regulation

According to Chad Steinglass, head of trading at CrossTower, Bitcoin’s correction may have initially been triggered by critical comments fromU.S. Treasury Secretary Janet Yellen.

Prior to Yellen’s comments, Bitcoin was experiencing a “post-correction consolidation” and was “rangebound between $34,000 and $38,000” with traders “waiting to see which side of the range would be challenged or broken.”

BTC/USDT 4-hour chart. Source: TradingView

Steinglass further explaind that Bitcoin’s next steps will be determined by the actions of institutional investors. He said:

“$31,000 was a pocket of strong support, so at least not everyone is selling. We’ll have to wait and see if that wall remains, or if institutions continue to accumulate. If they do, it’s likely that the trend will re-establish itself and continue. If they move to the sidelines waiting for more regulatory guidance, then their lack of buy flows will be acutely felt.”

Altcoins bounce back

Many of the top altcoins also recovered nicely from this week’s correction. Polkadot (DOT) rallied 7.09% to a daily high at $18, while Chainlink (LINK) posted a double-digit gain and topped out at $22.31. Tezos (XTZ) has also seen a surge in interest which boosted the altcoin by 15% to $3.36.

The overall cryptocurrency market cap now stands at $949.8 billion and Bitcoin’s dominance rate is 64.4%.

Source: https://cointelegraph.com/news/altcoins-rally-while-bitcoin-bulls-are-thwarted-by-resistance-at-34k

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DeFi surge, rising TVL and new partnerships underpin Ren’s 100% rally

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Interoperability between blockchains is rapidly becoming one of the buzz phrases being thrown around when discussing decentralized finance and the coins most likely to rally during an altcoin bull run. 

The rapid growth of DeFi, its ever expanding total value locked and soaring ETH gas fees further highlight the sector’s need for a layer 2 option that also supports the ability to transact value across different networks.

REN’s open protocol is designed specifically to fill this need by providing interoperability and liquidity between the top blockchains including Bitcoin, Ethereum and Zcash.

Over the past three weeks the price of REN has increased by more than 200%, going from $0.251 on Dec. 27 to a new all-time high of $0.778 on Jan. 20 driven by a record $369 million in 24-hour volume.

REN/USDT 4-hour chart. Source: TradingView

Three reasons for the recent price surge in the price of REN include the announcement of a collaboration with Google, the continued increase in total value locked on the platform and the ability to earn passive income in multiple cryptocurrencies through the operation of a darknode.

Google software pivot boosts sentiment, addresses RENvm scaling issues

On Jan.19 the REN team tweeted:

Ren has been researching & building on @Asylodev, an open and flexible framework by @Google. @GCPCloud confidential computing relaxes RenVM’s economic constraints, allowing for an unbounded scaling solution. #RenVM.”

Not long after the tweet, REN price began to rally to a new all-time high. As mentioned in the tweet, Asylo is an open and flexible framework from Google designed to help build portable applications that run on Secure Enclave hardware.

The secure enclave hardware allows users to run general-purpose applications in a secure environment where both the data, and the application itself, cannot be compromised by anyone, including the user. This makes for a more secure experience for all parties involved and helps protect against malicious code and backdoor attacks.

Asylo also makes it possible to port an application from one type of hardware to the next, meaning that developers can support multiple implementations with relative ease, including Intel implementations, AMD implementations, and any others that appear in the future. The diversity of choice this allows is an important feature to ensure decentralization on the network.

Total value locked soars to a new high

Community engagement and added value are key factors when it comes to the long-term success of a blockchain project.

Since the release of the Ren virtual machine mainnet (RenVM) in May 2020, engagement on the platform has steadily increased as Bitcoin holders now had another way to bring their BTC to Ethereum and the growing DeFi space.

As seen in the chart below, the total value locked on the Ren platform reached a new all-time high of $653.6 million on Jan. 20 and a total of 14,670 BTC are locked on the platform to create renBTC.

Total value locked in RenVM. Source: DeFi Pulse

The list of assets that RenVM supports continues to grow with BTC, Bitcoin Cash (BCH), Zcash (ZEC), Filecoin (FIL), Terra (LUNA), Dogecoin (DOGE) and Digibyte (DGB) currently available to transact on the Ethereum and Binance blockchains.

Development is currently underway to make it possible to interact on the Polkadot (DOT), Solana (SOL) and Cosmos (ATOM) networks as well, which would further enhance the interoperability provided.

Darknodes, passive income and a decreasing supply

The third driving force behind the recent price appreciation of REN relates to the Ren token use case and how it can help users earn passive income. RenVM is a network of virtual computers that make up a virtual machine, which are also referred to as Darknodes.

REN token holders who wish to operate a darknode need to lock up 100,000 REN which wiil enable them to process transactions on the network and earn a fee in the form of the token transacted. Thus, a darknode operator has the opportunity to earn passive income in the form of multiple different cryptocurrencies from one location.

Ren Darknode Statistics. Source: Renproject

As can be seen in the above graphic, 17.13% of REN’s total supply is currently bonded on the platform and supports the operation of darknodes.

During the most recently completed cycle, the network as a whole earned $839,128 in fees in the form of BTC, ZEC, FIL and BCH. The total network fees collected since the launch of the RenVM equals $2.975 million.

The continued addition of new tokens and interoperability with new blockchains will likely see increased usage of the network and an increase in the amount of fees earned. At the current price of $0.6157 it costs $61,570 to operate a darknode.

RenVM total users over time. Source: Dune Analytics

As activity on the network increases, the amount of fees generated will also increase, making it even more lucrative for token holders to operate a darknode. This has the potential to lead to further price appreciation from REN as every new darknode results in a direct decrease in its circulating supply.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/defi-surge-rising-tvl-and-new-partnerships-underpin-ren-s-100-rally

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Denarius Announces Beta of Kronos Wallet and Private Decentralized Chat

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Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain and privacy to the next level.

“Blockchains like Bitcoin and Ethereum have paved the way of innovation for cryptocurrencies and new applications like Denarius (D): Kronos, to bridge the gap for a faster and cheaper way to transact and utilize cryptocurrency.” — James R. (Cryptocurrency User)

Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain, and privacy to the next level. “Users” are able to freely join the Kronos Chat platform, as it is redundantly available due to it using peer-to-peer technology. Kronos has no downtime or possible banning of the platform. Examples of this in current history include, Amazon Web Services (AWS) taking down the Parler app’s platform hosting [1]. Google Play Store and Apple App Store removing the Parler application [2]. Signal App going offline [3]. Whatsapp invasion of privacy [4]…the list goes on.

Kronos is a secure cryptocurrency wallet but also chat reinvented. With the Kronos Chat you can chat and send cryptocurrency across the world in seconds. End-to-end encrypted messages and no storage of your chats, anywhere. Kronos Chat is powered by YOU by leveraging the latest peer-to-peer technologies. Censorship is everywhere and increasing daily. Kronos Wallet allows you to be truly free, with “self-moderation” you finally have the power to choose your own censorship while you socialize. Kronos stores only required data securely and locally, not on an unknown centralized server in the cloud. Kronos supports optional Two Factor Authentication (2FA) and One-time Password (OTP) Yubikey authentication and uses BIP39 technology for your cryptocurrency wallet with the most advanced and leading encryption technologies available today.

Bitcoin was the first cryptocurrency to solve the Byzantine Generals Problem, but transactions are slow. Ethereum created a smart contract platform, but transaction fees are expensive. Denarius stayed true to its roots by forking the original Bitcoin Satoshi code and modified the coin to become a faster and cheaper alternative to Bitcoin. Now Denarius with Kronos changes things. BTC, ETH, and D coins can be sent using the Kronos Wallet with more cryptocurrencies and tokens being added soon, possibly USDC, USDT, Namecoin (NMC), Devault (DVT), Primecoin (XPM), etc. Interplanetary File System (IPFS) integration and file uploading directly inside of the Kronos Chat also allows the user to upload files such as documents, images, and media directly inside of Kronos, ready to be shared via the plethora of IPFS public gateways available.

Cryptocurrency Credits
Bitcoin (BTC) created by Satoshi Nakamoto
Ethereum (ETH) created by Vitalik Buterin
Denarius (D) created by Carsen Klock

For more information
Kronos Wallet: https://kronoswallet.com
Denarius (D): https://denarius.io

BlockForums.org: https://blockforums.org
Bitcoin (BTC): https://bitcoin.org
Ethereum (ETH): https://ethereum.org
IPFS: https://ipfs.io

Sources
1.) https://www.theverge.com/2021/1/11/22223335/parler-amazon-terminates-web-hosting-aws-google-apple-capitol
2.) https://techcrunch.com/2021/01/08/parler-removed-from-google-play-store-as-apple-app-store-suspension-reportedly-looms
3.) https://www.cnet.com/news/signal-operational-again-after-daylong-outage/
4.) https://www.poynter.org/tech-tools/2019/whatsapps-breach-is-proof-that-online-privacy-takes-a-little-work/

Press Contact
marketing@denarius.io

Source: https://themerkle.com/denarius-announces-beta-of-kronos-wallet-and-private-decentralized-chat/

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