What is Iota in a Nutshell

There’s a new cryptocurrency on a block and it’s called IOTA. Technically it’s not a new cryptocurrency it’s been around for a while. recently it’s been listed on Bitfinex and it’s got a lot of attention – so it’s as good as new. It took seventh place in terms of market capitalization in terms of cryptocurrency

Third generation cryptocurrency:

  • Fast Transactions
  • Zero Fees
  • Quantum Proof

How Iota achieves free transactions

Iota has an important technological change over classic cryptocurrencies like Bitcoin and Ethereum – and that’s the fact that it doesn’t use blockchain. Instead, Iota uses Tangle, a new way of achieving network consensus. To understand Tangle and the benefits of Tangle we need to understand how transactions are verified on the Bitcoin network. Bitcoin uses Blockchain technology to create a consensus ledger – that is a database of transactions that everyone on the network agrees upon. ledgers of transactions being formed and linked to each other. Instead of having a single chain of transactions, Tangle has a mesh of transactions and verifications.  The beauty of tangle is that every time a transaction is sent you verify two other transactions behind you. Even Ripple has a transaction fee to prevent spam – it has a very low transaction fee but it’s still there.

Internet of things

Internet of Things is going to be huge – smart machines and smart living via an interconnected network of minicomputers. The interesting part of iota is that not only can humans use iota but machines can use iota too.  This is because iota has completely free transfers fees and even small machines can use it. This allows a machine-to-machine economy to form. For example, a vacuum robot might be able to request a taxi service from a nearby drone and get transported to a different building. This creates a whole entire world of possibilities for the future of mankind – or even machine kind.

Quantum proof

Quantum computers are coming this year and they can do one thing that traditional computers can’t – the can use Shor’s algorithm to break the cryptography used in Bitcoin and other classic cryptocurrencies. Whilst the current generation of quantum computers are powerful enough to run the calculation, future medium sized quantum computers potentially can. This means that Bitcoin might not be secure in the future as it might be possible to break into someone’s wallet. Iota is Quantum proof by design.

 

Sources:

What is IOTA -Roundup

Ethereum surges to $182 – Here is Why

It was only yesterday that Ethereum (ETH) broke the $100 mark. And after a series of rapid growth spurts, ETH is now sitting at $183. It is now rapidly approaching the $200 mark at a speed faster than even Ethereum promoters anticipated. Ethereum’s transaction volumes have now reached around 161,000 a day.

No Sleep for Poloniex Traders:

With prices changes every single minute, traders are getting no sleep tonight. There is just too much action and speculation in the market.

At this point, does the well even tell us anything?

Updates and Proof of Stake

The Ethereum network is constantly being improved and at a very rapid pace. Plans are underway to bring Proof of Stake consensus algorithms to Ethereum, potentially making the network faster and less energy consuming. The Metropolis update will the next upgrade to the network.

Enterprise Ethereum Alliance

The Enterprise Ethereum Alliance has more than tripled in size, with the group announcing 86 new members, including

  • Toyota
  •  Samsung,
  • pharmaceuticals giant Merck,
  • investor communications platform Broadridge

Interested in Ethereum Mining? Profits are now at an all-time high, check out our ethereum cloud mining guide.

DASH Mining is Out of Stock !

The Global DASH mining shortage (X11 Algorithm) has hit Genesis-Mining. Even the smallest DASH mining contracts are out of stock, including the smallest 5 MH/s Plan. This is most likely due to the extreme popularity of the Dash mining plan, as it generates has the highest possible return on investment of all the plans.

Dash Genesis Mining Out of Stock
Dash Contracts are Out of Stock on Genesis Mining

Official Statement

We contacted Genesis Mining customer support for an official statement:

Hi Boxmining,

The X11 – Dash mining contracts have been sold out and we don’t know when we are going to have them in our offer again. Hopefully soon. We’ll keep you informed via our Newsletter. Until the contracts are back we cannot say for sure what the price will be.

Thank you for your understanding.
Marina
Genesis Mining Customer Service
At this time it is uncertain when the contracts will be available and if they will even be priced the same as previously. There may be a possible price hike with new contracts because the price of X11 miners, such as the Baikal Miner QUAD-cube, is going up in price. Even the official Baikal Miner site have higher prices, with the quad miner priced at $3196 USD for 1200 MH/s

Alternatives

Currently, we are updating our Contract compare with the latest possible return on investments for other options such as Monero, Litecoin and Ethereum.

 

DASH Surges past $90 USD #CryptoSurge

DASH evolution Logo

Sudden Surges in DASH value is no longer surprising anymore, even when there are new direct announcements about the currency. This weekend, DASH skyrocketed past $90 US in an event dubbed “Crypto Surge“.

DASH Crypto Surge 2017
DASH pushes past $90 USD

#CryptoSurge

Nearly Every cryptocurrency is experiencing immense growth, most likely caused by changes in the political and financial landscape. Tight financial regulations and uncertain political futures are causing all cryptocurrencies like DASH to gain more mainstream attention and hence more value. Here are some reasons why DASH, in particular, is growing like crazy:

DASH is available on more platforms:

Recently DASH is been added as a currency on the iOS wallet JAXX. It is one of few cryptocurrencies that are tradable on the iOS platform which supports private transactions.

DASH evolution:

DASH evolution Logo

DASH will receive a huge update in the near future which will allow it to gain mainstream adoption. Features such as sending to usernames (rather than long addresses) will greatly improve user friendliness.

How to Benefit from the Rise in Dash Value

Missed out on the rise in DASH value? You can still join in on the action now by signing up for DASH cloud mining. Cloud contracts cost the same whilst the value of the output (DASH!) has gone up. This means DASH cloud mining contracts give a higher yield than previously. Check out a full guide here: Genesis Mining DASH Return on Investment. 

Genesis Mining Dash Review

DASH mining On Genesis Mining Review

I’m going to cover DASH mining contracts on Genesis Mining. This is currently the best contract out of all the plans on offer at Genesis Mining. I made a comparison of all the Genesis mining contracts, and DASH is the most profitable, with more than two hundred percent yield (return on investment).

Important: There are risks associated with mining (no such thing as a free lunch). You should do a significant amount of research into what something is before you actually start. I’ve done quite a lot of research and will summarize it here in this review.

What is DASH

DASH is very similar to bitcoins in that it is a cryptocurrency that can be exchanged traded between people. It’s got a few advantage over Bitcoin:

  • Private Transactions – DASH has the ability to send transactions with anonymity. That’s one big advantage over bitcoin where all transactions are public. Hence with Bitcoin, anyone can track where the coin is going and where it comes from. DASH offers a layer of privacy that protects the user.
  • DASH also offers instant confirmation. Bitcoin transactions right now take 10 – 30 minutes complete. That’s very very long, and it really can’t be used as cash. Bitcoin is like a bank transfer DASH is like PayPal.

What is DASH Cloud Mining

When you mine DASH, you’re actually kind of doing calculations for the DASH network. You’re actually kind of helping these transactions move along. That’s the best way to describe what mining is so using a lot of computational power to verify transactions and that’s what you’re doing when you’re actually buying a Genesis mining DASH contract. When you buy the DASH contract, you’re actually renting a machine that does DASH mining. Every DASH contract last two years and when you buy one of these machines, it’s going to start mining immediately. So you’re going to start immediately doing calculations for the DASH network and going to be rewarded for that on a daily basis.

Whats Hash rate

Hash rate measures how many calculations you’re doing per second. The faster you’re doing it, the more calculations you’re doing, the more you’re going to get the more going to be rewarded from the network.

That’s the easiest way to describe it so if you’re mining 5 that means you’re just doing like have 5 mega calculations per second, and if you’re doing 100, that’s basically 20 times more. Yeah, 20 times so this is just basically making 20 times more money.

I’ve actually calculated that for you where you’re going to get a payback period of seven months so after seven months you’re going to get your money back. Hopefully and then out you’re going to start making money.

Everything that involves a high return evolves involves a high degree of risk that’s just the case I mean if you wanted very high security just buy US government bonds. There’s two risks associated with mining the first risk is of course currency so you can see that the price of DASH can fluctuate over time right now it just grew six percent over the last 24 hours, but it can also fall just as much. This because DASH has a very low market capsule and as a result, it can fluctuate a lot. Right now it’s at a pretty high state it’s at seventy-six dollars which are pretty good. I’m pretty like happy with DASH is that they got a really really good economy going on and a lot of videos covering DASH if your actual want to look at that specifics.

In general, so that’s the first spread that’s the value of DASH so if you’re mining something and the value that value decreases then it’s going to decrease your yield definitely

DASH mining Difficulty

Next, up is mining difficulty this is really the hardest thing to kind of calculate and it’s a little bit hard to explain. DASH is built around a system where the more people that are mining, the more harder it is to get coins. You’re all fighting for the same reward. So the amount of reward given by the whole system, in general, is the same, and everyone’s fighting for it. It gets harder to mind over time difficulty increases the reason why is because there are more people binding genesis mining contracts which mall buying actual miners is going to make the difficulty harder.

DASH Mining Technology

Another reason is Technology. You want just to think about your CPU’s on your phones they’re getting faster every day. And this is what’s happening if there’s new technology coming in it gets harder and harder to mind DASH, so that’s not going to decrease your profit per year. It’s very hard to estimate that because you don’t know what tech knowledge is coming in. And just any don’t know how many people are going to buy DASH mining, so usually, I have like it’s really hard to predict that.

DASH mining Profitability 

Please note that yields are affected by many uncertain variables such as DASH value, mining difficulty and other risks. This risks are not accounted for in the above calculation, read the article for additional information on these risks.

Check out a More detailed analysis here: Genesis Mining DASH ROI