Blog | EastShore Mining Devices

The Past Decade of Mining Industry

07/06/2019 Mining News 2 Comments 2154 Views0

It’s been a decade since the creation of the genesis block on January 4th 2009.

During the decade, along with the ebbs and flows of bitcoin, the mining industry has gone through some ups and downs, and the landscape of the industry has kept changing. The name FriedCat and the term CPU mining have become obsolete with the replacement of Wu Jihan, Bitmain and ASIC mining.

In the course of mining development, there have been many thrilling stories. We’d like to look back and share some of its moments with our reader.

Transaction Models of the Blockchain

24/06/2019 Blockchain Analysis No Comments 1430 Views0

From the data structure of blockchain to the decentralization, from hashrate to mining, from consensus to fork, all our readers must have a general understanding of the blockchain now.

However, there’s a topic on which we always hoped to write something, but we hesitated because we worried our understanding might not be comprehensive and thorough enough and make some misleading.

After one month of understanding, we finally have the confidence to share this topic with all. Although this topic is inconspicuous, it is especially important, especially in the field of blockchain. I should say that it has laid the foundation for the entire decentralized application (DAPP) from now to the future, that is , the transaction models of the blockchain.

The Untraceable Private Crypto Currency Monero

23/06/2019 Cryptocurrency Analysis 3 Comments 1561 Views0

Monero was born in 2014 with the features of higher anonymity and faster transaction speed by contract with bitcoin. In terms of Monero, it is necessary to mention an insignificant but important incident in the blockchain industry in September 2017, that is, the official adoption of RingTC anonymous technology. In the situation of dominance by bitcoin, the original cryptocurrency and popular DASH in the market, the Monero also developed into one of the mainstream currencies by means of the technology upgrading.

What’s the Charm of DASH?

21/06/2019 Cryptocurrency Analysis 1 Comment 1508 Views0

Being born in 2014, DASH enjoys higher anonymity and faster transaction speed than bitcoin. The DASH team has completed a lot of technical upgrades with active cooperation with other companies to promote DASH applications.

Why It Has to Have 6 Confirmations for A successful Bitcoin Transfer?

17/06/2019 Tutorial 1 Comment 1418 Views0

Many newbies who have just got involved in the blockchain may feel surprised when they are told that “A successful bitcoin transfer needs 6 confirmations.” Why are 6 confirmations are needed? Does it refer to the confirmation of 6 bitcoin mining workers on the network?

Here in the article, we would like to explain the principles in detail.

What Are the Recently Frequently Mentioned Sidechain?

16/06/2019 Tutorial No Comments 1225 Views0

Bitcoin can only process about 7 transactions per second and such a speed makes it impossible to establish many related applications. So, the sidechain came into being to improve the scalability of bitcoin.

To transform the sidechain from concept to reality, the bitcoin core developers such as Adam Back and Matt Corallo released the white paper Enabling Blockchain Innovations with Pegged Sidechains, which clearly proposed the concept of sidechain and its protocol implementation for the first time.

Wallet Address is So Long! But You Can Simply Avoid Mis-transfers with a Domain Name!

10/06/2019 Cryptocurrency Analysis No Comments 1126 Views0

Still remember the experience of using Ethereum wallet to transfer money to others for the first time? You pasted a long string of characters, murmured to double check the input content and the information by the other party. However, since the address was too long and you only checked the last 4 characters, then clicked the button for account transfer before suddenly realizing there was no space between the character strings? Or whether you might confuse the number 1 and the letter I?

Introduction to the POW Algorithm of Mainstream Cryptocurrency

10/06/2019 Cryptocurrency Analysis No Comments 1232 Views0

All the cryptocurrencies which demand hardware mining have adopted the POW consensus mechanism now. Before mining, we must choose the type of cryptocurrency first. Since the cryptocurrencies to be mined adopt different POW encryption algorithms, they need different mining algorithms as well as different requirements on corresponding miners.

Review on Different Ethereum Mining Softwares in 2019

17/05/2019 Mining Analysis, Rating No Comments 1916 Views1

At 3:52 am on March 1, 2019, Beijing time, Ethereum updated two hard forks of Constantinople and St. Petersburg on the 7,280,000 block. As the sixth and seventh comprehensive system upgrading at Ethereum, the process in Constantinople and St. Petersburg was unexpectedly smooth. Some accidents once happened in previous Ethereum hard forks, the most famous one was the ETC which appeared after the hard fork in 2016. Until now the ETC has been still running as a separate chain. The Constantinople upgrading has completely changed the mining rules of Ethereum and delayed the difficulty bomb of Ethereum for at least one year. The average block time after upgrading was reduced from 21 seconds to 12.5 seconds, while the block reward was also reduced from 3 ETHs to 2 ETHs.

Bitcoin and Byzantine Generals Problem

30/05/2019 Cryptocurrency Analysis No Comments 1350 Views1

Byzantine Generals Problem is a common term in the blockchain field as well as a core issue in cryptography.

Byzantine Generals Problem is a distributed peer-to-peer network communication fault tolerance proposed by Leslie Lamport in his paper The Byzantine Generals Problem.