Autor Cointelegraph By Marcel Deer

What is quantum cloud computing, and how does it work?

What is quantum cloud computing, and how does it work?

Uverejnil používateľ | mar 17, 2023 |

Akin to platform-as-a-service solutions, quantum cloud computing services work by connecting users directly to quantum processors, emulators and simulators. Physical quantum computers are very complex, making cloud-based access an ideal setup for those needing to harness the power of quantum computing without purchasing their own machine. According to IBM, its quantum hardware systems are roughly the size of an average car — mainly comprised of cooling systems to ensure that the superconducting processor remains at the ultra-cold ideal operating temperature. Quantum hardware systems consist of superfluids that work to super-cool the system; superconductors, which form a Josephson junction to carry charges through quantum tunneling; and qubits facilitating behavior control and information relay. Qubits can perform an important function called superposition, which allows them to place the quantum information they hold in a state of superposition or a combination of all the possible configurations of the qubits. This phenomenon allows for the creation of multidimensional computational spaces, facilitating the solution of complex problems. Another thing that bears understanding when talking about quantum computing is the concept of entanglement — a quantum mechanical effect. Entanglement refers to correlations between the behavior of two separate things. In the context of quantum entanglement, as qubits become entangled, they cause changes to other qubits, allowing the system to find solutions faster than conventional computers. Contrary to the widespread but mistaken belief that quantum computing can solve complex problems by trying every possible configuration to a problem in parallel, quantum computers leverage qubit entanglement to explore probabilities. Then, they carry out an algorithm to increase the chances of coming up with the best possible answer.

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How to earn passive crypto income with Ethereum?

How to earn passive crypto income with Ethereum?

Uverejnil používateľ | okt 29, 2022 |

The cryptocurrency market is incredibly volatile, which can be both good and bad for investors and traders. Volatility creates opportunities for making profits, but it can also lead to losses. Passive income strategies, however, could be handy in offsetting these losses. Passive income strategies offer investors and traders opportunities to earn profits, even during challenging market conditions such as bear markets. For those investing in Ether (ETH), or any crypto in general, earning passive crypto income provides a way to cover market crashes and downturns.Hodling used to be the primary way to earn interest on one’s crypto assets. But, with the rise of decentralized finance (DeFi) protocols, there are now many ways to earn interest on Ether and DeFi protocols. This article is a guide on how to make money with Ethereum for beginners and those already familiar with the space.What is Ethereum and how does it work?Ethereum is a decentralized blockchain network that runs smart contracts. These are applications that run exactly as programmed with no possibility of fraud or third-party interference. Ethereum’s native token, Ether, allows users to carry out several functions on the network such as making transactions, staking, trading, storing nonfungible tokens (NFTs), playing games and more.Ethereum is also used to build decentralized applications (DApps), which are open-source software that run on the blockchain. DApps can be built on Ethereum’s network by anyone with the skills and expertise to do so, making it one of the most popular platforms for developers.Ethereum once used a proof-of-work (PoW) consensus algorithm, which rewards miners for validating blocks of transactions. However, Ethereum officially shifted to a proof-of-stake (PoS) consensus algorithm on September 15, 2022, at 1:42:42 am EST.The historic transition is part of what Ethereum co-creator Vitalik Buterin, dubbed The Merge, noted as the first part of many in the network’s multi-year scaling roadmap. The move to PoS is designed to make Ethereum more scalable and energy-efficient by eliminating the need for miners who use high amounts of electricity to secure the network.How to make passive crypto income with Ethereum?Here are some of the popular ways to make passive income with Ethereum: StakingStaking is the process of locking one’s funds on a PoS blockchain (such as Ethereum) to help validate transactions and earn rewards. When users stake their ETH, they are essentially putting their skin in the game and helping to secure the network. In return for their efforts, stakers earn rewards in the form of ETH or other tokens.Ethereum staking is a popular way to earn passive income from cryptocurrency, although it might be too expensive for amateur investors. The new PoS version of Ethereum requires at least 32 ETH — roughly over $50,000 — to run a full validator node and participate in staking.Apart from direct staking, one can also use service providers like StakeWise and Lido. These are DApps that provide Ethereum staking services without having to run a full node, allowing network participants to stake with minimal amounts. These services usually charge a fee on rewards upward of 10%, which might cut into one’s profits, but at least they won’t need to invest 32 ETH upfront.HodlHodl, a derivative of “hold,” also “hold on for dear life,” is a crypto slang term used to describe the act of holding onto cryptocurrency for long-term investment purposes. When Ethereum investors hodl their Ether, they are essentially betting that its price will go up in the future and that they will be able to sell it for a profit. It’s one of the simplest and most popular ways to earn passive income from cryptocurrency. And, while this strategy does not offer any immediate or guaranteed returns, it can be profitable in the long run if the price of Ether does indeed increase. Given that, Ethereum has seen a tremendous amount of growth since its inception and is currently one of the most valuable cryptocurrencies in the world, so there is a good chance that its price will continue to rise in the future.However, it’s important to keep in mind that cryptocurrency prices are highly volatile and can fluctuate rapidly. This means that there is always the potential for loss when hodling crypto, so investors should only put in as much money as they’re comfortable losing.Automated tradingAnother way for users to generate passive income through their Ethereum investment is by using a bot for automated Ether trading. Automated trading bots are software programs that use pre-programmed algorithms to buy and sell cryptocurrency on exchanges 24/7.These bots can be set up to place trades automatically under certain market conditions, such as price changes or volume. Coinrule and Bitsgap are just some examples of automated trading software that allow users to set up trading rules, either by using premade templates or customizing them based on risk preference.If successful, automated trading can provide a steady stream of profits, although it does come with some risks. Bots are not perfect and can sometimes make mistakes, such as selling too early or buying too late. Moreover, the cryptocurrency market is highly volatile and can experience sudden changes that a bot might not be able to anticipate. As such, investors need to monitor their automated trading activity closely to avoid any major losses.LendingLending is another popular way for investors to generate passive income from their ETH investment. Typically, investors make a profit by lending crypto to borrowers with a high-interest rate. This can be done either through centralized or decentralized lending platforms.On centralized platforms, users typically don’t need to worry about technical issues such as security, data storage, bandwidth usage or authentication. The platform manages all technical details and provides the potential for investors to optimize their assets’ yield. Centralized platforms usually have higher interest rates than decentralized lending platforms. One drawback, however, is that centralized platforms are more susceptible to hacks and data breaches.On the other hand, decentralized lending platforms allow users to enjoy a higher level of security, transparency and customizability, allowing experienced investors to tweak settings to maximize their profits. The downside is that these platforms are often more complex to use and require a higher level of technical expertise. Interest rates also tend to be lower on decentralized platforms.Liquidity miningLiquidity mining or yield farming is also an alternative to generate passive income from Ethereum. Here, users lend their Ether or other assets to liquidity pools on decentralized exchanges like Yearn.finance, SushiSwap and Uniswap to earn rewards. Many yield farming platforms include the ability to exchange a token for another in a liquidity pool. Traders pay a fee when they trade cryptocurrency, and this fee is then divided among the farmers who have contributed to the liquidity of that pool. The size of the reward depends on how much of the total pool’s liquidity is provided by the farmer.Yield farming can be a great way to generate passive income, but it is important to remember that it is a relatively new practice and is, therefore, subject to change. Moreover, it can be a risky investment, as the price of the underlying assets can fluctuate rapidly, leading to losses.

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What are governance tokens, and how do they work?

What are governance tokens, and how do they work?

Uverejnil používateľ | okt 24, 2022 |

Governance tokens are a type of cryptocurrency that allow tokenholders to vote on the direction of a blockchain project. The primary purpose of governance tokens is to decentralize decision-making and to give holders a say in how the project is run.Governance tokenholders are usually more invested in the project’s success as they stand to gain or lose more, depending on the outcome. Community members can use tokens to influence the direction and features of a blockchain protocol directly. As such, it is possible to implement changes related to the user interface, vote on fees and reward distribution, or even modify the underlying code of a project.Although most decentralized finance (DeFi) tokens are governance tokens, voting is not their only defining feature. People possessing these governance tokens can use them to take out loans, stake them and earn money through yield farming. Given all this, their primary function is still to distribute power.Governance tokens are a relatively new invention, and there is still much debate about their efficacy. Some believe they are the key to true decentralization, while others worry that they will lead to the centralization of power among a small group of tokenholders.How do governance tokens work?Governance tokens act as the foundation to establish decentralized governance in decentralized autonomous organizations (DAOs), DeFi projects and decentralized applications (DApps).Users who have made significant contributions to the community or have demonstrated loyalty are frequently awarded governance tokens. Tokenholders then vote on key issues to ensure that the projects progress effectively. Generally, people vote by utilizing smart contracts so that the results are tabulated and enacted automatically.Each project has its own set of governance token rules. They are dispersed to stakeholders, including the founding team, investors and users, using various calculation methods. Some governance tokens only vote on a limited number of governance issues, while others vote on everything from development updates to smart contract revisions. Similarly, some governance tokens have the option of generating financial returns; others do not.The Ethereum-based DAO, MakerDAO, was among the first issuers of governance tokens. MakerDAO’s stablecoin is called Dai (DAI), while Maker (MKR) tokenholders govern the protocol itself. One token equates to one vote, and decisions with the most votes are adopted.Among the types of issues that MKR tokenholders vote on are fees, rules and team member appointments. Ultimately, the goal is to maintain DAI’s stability, transparency and efficiency.Another example of a protocol with a governance token is Compound, a DeFi protocol that allows users to borrow or lend cryptocurrencies. The protocol has a governance token called Compound (COMP), which tokenholders can use to decide on important protocol-related matters.The number of COMP tokens users receive is based on their activity levels within the Compound network. That said, users who lend and borrow more often will be rewarded with more COMP tokens. The COMP token is the equivalent of one vote on Compound. The tokens can also be delegated to others to vote on your behalf.In 2020, Compound gave up control of the network’s admin key and the project is now entirely governed by its tokenholders without any other governance methods.What is the difference between governance and utility tokens?Utility tokens are digital assets that can be used for a specific purpose, such as fee payment or access to a product or service. In contrast, governance tokens give the holder a say in how the project is run.A utility token’s purpose is usually encompassed within the native blockchain network or crypto platform where it was purchased. BNB (BNB) is a good example of a utility token. It is used on Binance to pay fees, vote on new token listings and pay tickets or “entrance fees” for features like the Binance Launchpad.The key distinction is that utility tokens don’t carry any governance power. Utility tokens are a great option for many purposes, but governance tokens may be the better choice in some cases. As mentioned before, governance tokens can also be used for staking and taking out loans. This makes them more versatile than utility tokens, mostly used for transactions.What are the advantages and disadvantages of governance tokens?Governance tokens are a good way to decentralize a project and give users an incentive to participate, but they can be complex and open to abuse. One of the key advantages of governance tokens is decentralization. In truth, they are the only way developers can implement decentralization in the DeFi ecosystem. Without them, there would be no way for users to have a say in how the project is run.Another advantage of governance tokens is that they incentivize users to stay involved with the project. If a user holds COMP tokens, for example, they will want to keep using the Compound platform to earn more COMP tokens. This creates a virtuous circle where users are incentivized to use the platform, increasing the platform’s value.Governance models also allow for more efficient development, as developers can work on features that the community wants. In traditional development models, developers have to spend a lot of time and resources on features that may not even be used.There are also some risks and downsides associated with governance tokens. One is that they can be complex, making it hard for users to understand how they work. For example, some protocols have multiple token types with different functions. This complexity can lead to user apathy, as users may not want to bother with voting or to participate in governance if they don’t understand how it works.Another disadvantage is that some people may abuse their power. If a user holds a large number of COMP tokens, they can easily sway the vote in their favor. This could lead to decisions being made that are not in the best interests of the platform as a whole. There may also be a lack of accountability, in the sense that if a decision turns out to be bad, there is no one that can be held responsible.Are governance tokens valuable?Governance tokens are powerful because they give holders a say in how the project develops. Furthermore, governance tokens can improve organizational efficiency. As a result, the entire organization may become more efficient and successful.In addition, governance tokens have value and may be traded, swapped, exchanged, staked, etc. They are also a great opportunity to earn passive income. Stake governance tokens may also earn users additional benefits, such as increased access to services or a piece of the protocol’s profits. If this is the case, possessing a governance token is comparable to having a share in a revenue stream.So, how do governance tokens gain value? There are a few ways. One is that the tokens will become more valuable as the project becomes more successful. For instance, new blockchain games usually offer early adopters a chance to later stake their governance tokens in exchange for game revenue. In this case, even though a governance token may not seem to have much value initially, it may be worth a lot more in the future.A decentralized protocol can also increase the value of its governance tokens by buying back tokens. This reduces the number of tokens in circulation, making each more valuable.Purchase a licence for this article. Powered by SharpShark.

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How to build a cryptocurrency mining rig

How to build a cryptocurrency mining rig

Uverejnil používateľ | okt 18, 2022 |

Cryptocurrency mining involves using a computer, or several computers, to validate transactions on a blockchain. Technically, these computers solve cryptographic equations and record data in a digital ledger. The more computers solving equations, the faster the blockchain can validate transactions.When miners verify the hashes of unconfirmed blocks, they receive a reward for each verified hash. Mining can be energy and computationally-intensive, requiring specialized hardware and crypto-mining software.Among the most mined (and most profitable) cryptocurrencies are Bitcoin (BTC), Monero (XMR), Ravencoin (RVN), and Dogecoin (DOGE). Ether (ETH) used to be part of this list but Ethereum has recently shifted to a proof-of-stake (PoS) consensus algorithm, which means ETH can no longer be mined.Understanding cryptocurrency mining is vital for those who want to invest in cryptocurrencies. After all, miners play a critical role in ensuring the security and decentralization of blockchains. Cryptocurrency mining is a process that requires the use of specialized crypto mining hardware, software and a mining pool. The process can be difficult to understand and set up without proper guidance, so here are some essential details to get you started. What is a cryptocurrency mining rig, and how does it work?A mining “rig” is a customized personal computer (PC) that contains all standard PC components: a CPU, motherboard, RAM and storage. The main difference is that mining rigs use graphical processing units (GPUs) instead of central processing units (CPUs).GPUs are better at solving the cryptographic equations needed to verify transactions on a blockchain. A single high-end GPU can outperform a standard CPU by up to 800 times in terms of instructions per clock. This makes them essential for anyone looking to mine cryptocurrencies.GPUs also have much higher hash rates and are easier to maintain, making them a popular choice among miners. The hash rate is a measure of how fast a computer can solve cryptographic equations and is used to determine the profitability of mining.Another key difference is that mining rigs are often outfitted with multiple GPUs. This is necessary because the more GPUs a rig has, the higher the hash rate will be. Cryptocurrency mining rigs work by using GPUs to verify transactions on a blockchain. It’s also worth noting that not all miners use GPUs. In some cases, such as Bitcoin mining, miners may prefer to use an application-specific integrated circuit (ASIC) instead. Some things to consider when looking to build a mining rig are:The cost of equipment: GPUs and ASICs can be expensive, so it’s important to factor in the prices of all the necessary equipment. The cost of electricity: Cryptocurrency mining is an energy-intensive process, so it’s essential to consider the cost of electricity. Trial-and-error: Building a mining rig is not like building a custom PC;  it can be a trial-and-error process that involves a lot of tweaking and adjustment.What components are required to build a mining rig?Several key components are required to build a mining rig. These include:GPUsAs mentioned before, GPUs are the critical component of any mining rig. The number of GPUs needed will depend on the hash rate one is looking to achieve. But one or two GPUs should suffice for someone who’s just starting.ASICsASICs are specialized machines that are designed specifically for mining cryptocurrencies. They usually come with a higher price tag than GPUs, but offer much higher hash rates.MotherboardThe motherboard is the backbone of any computer, and a mining rig is no different. It needs to be able to support all the GPUs that will be used in the rig.CPUSome beginners choose to mine with CPUs alone, which is also possible. However, they need to be high-end, capable of meeting mining demands.  When using GPUs for mining, a basic rig only needs a low-end or moderate CPU, such as an Intel 8th or 9th generation.RAMRandom access memory (RAM) is essential for any computer, as it’s used to store data temporarily while the computer is running. For a mining rig, it’s important to have enough RAM to store the data of all the GPUs used in the rig.Power supply unitThe power supply unit (PSU) is one of the most important components in a mining rig. This is because the PSU needs to be able to provide enough power to all the rig components. A good rule of thumb is to get a PSU that can provide at least double the power your rig will need. Typically, a PSU with A 1200w platinum rating will work well.StorageLike with any other computer, a mining rig needs some storage. This can be in the form of a hard drive or an SSD. The storage size will depend on how much data you plan on mining. Typically, any 240 GB or larger drive should suffice.Other requirementsBesides the hardware components listed above, a few other things are needed to build a mining rig. These include:Mining software such as CGMiner, EasyMiner or BFGMiner;An operating system such as Awesome Miner, Rave OS or Hive OS;A crypto wallet to store your mined coins;A riser to elevate your GPU for increased airflow;A stable internet connection; andA flash drive with at least 5GB capacity.How to build a mining rig:  For beginnersNow that we’ve discussed the components needed to build a crypto-mining rig, it’s time to put one together. Below is a quick step-by-step guide: Step 1: Attach the motherboardMake sure the lever securing your CPU’s socket is in the released position. Next, place the motherboard outside the mining frame on top of something that will keep it static-free — like a foam box or an anti-static bag.Step 2: Attach the processorAttach the processor to the motherboard. Create a mark on both the CPU and the motherboard sockets to identify which one is which later. Also, be careful while attaching the CPU pins to the motherboard as they can easily bend and damage the whole processor.Step 3: Install the RAMInserting a RAM module into a motherboard’s RAM socket is very straightforward. Carefully push the RAM module into the RAM socket after opening the motherboard slot’s side brackets. The RAM must be installed in the correct orientation, and care must be taken in doing so since the RAM may only lock into the socket in one way.Step 4: Attaching the PSUMake sure to attach the PSU to the motherboard securely; if not, the mining rig will fail to start. The CPU’s 8-pin power connector should go into the motherboard slot closest to the processor.Step 5: Attaching USB risersThese are needed to connect the GPUs to the motherboard. Insert them into the available PCI slots on the motherboard.Step 6: Attaching GPUsSecure the GPUs onto the frame by using USB risers. Then, plug in PCI-e 6+2 power connectors into the GPUs. Lastly, double-check that all the cables are plugged in properly before booting up the mining rig. Once everything is plugged in, it’s ready to start mining for cryptocurrency.Is crypto mining still profitable?Now that Ethereum has phased out mining alongside its shift to a PoS mechanism, can mining still be profitable? The answer is yes — depending on a variety of factors.The profitability of mining varies from cryptocurrency to cryptocurrency. For example, Bitcoin mining is still very profitable, while Ethereum mining has become much less so. Another factor to consider is the price of a cryptocurrency. If the price of a coin goes up, then mining that coin becomes more profitable, and vice versa. Cryptocurrency mining can still be a profitable endeavor, but it’s crucial to conduct research before beginning.Purchase a licence for this article. Powered by SharpShark.

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What are the risks of the Ethereum Merge?

What are the risks of the Ethereum Merge?

Uverejnil používateľ | okt 16, 2022 |

One of the foremost concerns regarding the Merge is that of centralization. Another potential concern is the risk of scams, as the general public may not be aware of how the Merge works. A fundamental flaw in the Merge is that it will likely increase the concentration of power within the network. The more valuable a staker’s position is, the more they will be rewarded for validating blocks. This could lead to a situation where a small number of wealthy individuals or groups control the majority of the stake and have disproportionate influence over the network. Five major organizations control 64% of the network’s stake. In the event of a contentious fork, these organizations could collude to choose which chain to support, potentially censoring transactions or double-spending funds. Already, critics are debating whether the Merge is a “rich get richer” scheme that will entrench the power of current stakeholders. Since staking will be required to earn interest on one’s ETH holdings, those who cannot afford to stake may be priced out of the market. This could lead to increased centralization as only those with large amounts of money would be able to participate in staking. It’s also not uncommon for scammers to take advantage of big transitions such as The Merge, pretending that users need to do something (usually involving giving up tokens) to upgrade. Wallet upgrades are also a potential source of scams, as users may be tricked into downloading malicious software masquerading as an official update. Lastly, miners who have been mining in Ethereum’s mainnet for years may yet decide to continue on Ethereum’s old chain. After all, many of these miners have likely incurred huge electricity and hardware expenses and may feel that they have more to gain by sticking with the tried-and-true mainnet.  This could lead to a split in the community, with two competing versions of Ethereum running concurrently. While this scenario is unlikely, it’s still a possibility that investors should be aware of.

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