What is the best Cryptocurrency Mining Software for Your Needs?

Friends, cryptocurrency mining is rapidly moving from the realm of established firms and well-funded start-ups to individuals who want to cash-in on the cryptocurrency tsunami. Individual mining will give you large yet irregular payouts, whereas as pooled mining will result in smaller and more stable payouts. AvalonMiner 741, BitMain Antminer S9, T-bao Ethereum Coin Mining Miner and  Miner Baikal Giant X10 ASIC Bitcoin Mining are among the leading ASIC hardware mining devices. But which software should you use? Four products are top of mind. Yes, opinions vary, nonetheless, consider four of the top rated products including BTCMiner, CGminer, BitMinter and BFGminer. You want to ensure you select software that supports ASIC mining. Share your comments at the Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com), Lawrence

How Can Blockchain Bolster Security for Federated Identity Management?

Friends, the intended purpose of Federated Identity Management (FIMS) is to enable registered users of a specific domain to access information from other domains without having to provide additional administrative information. So how can Blockchain enhance FIMS security or will Blockchain emerge as the backbone of a new universal Digital Identity System?? While Blockchain is not a security technology in itself, so the end game is to employ Blockchain as the underlying storage technology supporting a viable FIMS. Firms such as Credits.Vision, GEM, Ripple and many others are actively exploring this issue. What do you think? Share your comments with the Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com). See you soon. Lawrence

Can Cryptocurrencies Escape From Under the Silk Road’s Dark Web Legacy?

Friends, Silk Road’s origins date back to 2011, some two years after the birth of Bitcoin. Operating as an underground exchange hidden within the dark web, it was largely known as a marketplace for illicit products and services (e.g. contraband and narcotics). As we fast forward to 2018 Bitcoin and other cryptocurrencies are known to be used for legitimate as well as shady business transactions which buyers and sellers want to keep out of sight from sovereign governments, intelligence entities and public corporations. Potential examples – suspected although not fully verified – may include the illegal exchange of weapons of war and biological agents as well as the vast arena of drug transactions (e.g. Russia, Iran, North Korea, Afghanistan, and related cartels). So why does this matter? Bottom line: If Bitcoin, Litecoin, Ethereum and other cryptocurrencies are to become accepted mainstream vehicles for global trade and commerce they will need to shed their dark sides. Is this possible? Share your thoughts with the Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com) See you soon, Lawrence

Can IP Rights Management be used to Secure Blockchain Distributed Ledgers?

Colleagues, once again the precipitous rise of Blockchain related technology far outpaces both third party and government standards. A prime example – among many – is the IP management for Blockchain concerning DistributedLedger Technology (DLT). Entities that or use or develop the technology will quickly need to become conversant with its IP implications, and to have a good understanding of the offensive and defensive strategies available to them. Failure to do so may be a risk to market share or proprietary business strategies. While there is little question that the Blockchain can store claims to authorship without a central authority to censor, take down or potentially tamper with original work it remains to be seen if it can prevent IP infringement is another question. Send us your comments. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

How Will Atomic Swaps Impact Cryptocurrency Adoption?

Friends, Atomic Swaps (aka Cross-Blockchain Messaging) are a cryptographically powered smart contracts which enable two entities to exchange different cryptocurrencies/tokens without the risk of a trade default within your wallet. This new development can take the promise of decentralization to a higher level, particularly when it comes to exchanging different cryptocurrencies or tokens for one another. Atomic Swaps are the way to aid P2P trades in a completely trustless manner. Komodo’s JL777 recently conducted a successful electrum atomic swap on their platform with Bitcoin and Komodo as the trading pair. In theory they would appear to be a major breakthrough.  However, in reality can they ensure the integrity, security and reliability? Send us your thoughts. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

How did China’s Bitmain Become a Cryptocurrency Mining and AI Powerhouse?

Friends, Bitmain – a 4 year old start-up in Beijing - sells Antminer bitcoin mining rigs that can cost several hundred dollars to a few thousand dollars each … apparently with healthy gross and operating margins. The firm also operates "mining pools" in which participants collaborate on bitcoin mining in order to cut costs. Bitmain has also introduced new AI products that are a customized tensor computing ASIC (Application Specific Integrated Circuit) optimized for training functions for deep learning networks. Later this year Bitmain is expected to will likely migrate some of its chips to TSMC’s 10nm and the most advanced 7nm. Can Bitmain sustain this meteoric growth … especially if Bitcoin prices stagnate? Let us know your views. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Will Byzantine Fault Tolerance Enable Blockchain Adoption Beyond Cryptocurrencies?

Friends, Byzantine fault tolerance (BFT) is the resistance of a fault-tolerant computer system, especially distributed computing systems, towards electronic component failures where there is imperfect information on whether a component is failed. In a "Byzantine failure", a component such as a server can inconsistently appear both functioning and failed to failure-detection systems, presenting different expressions to different observers. Perhaps nowhere is BFT more essential than on a Blockchain. Most traditional distributed computing environments have central configuration databases or authorities that can help right wrongs in the event that Byzantine failures occur. Blockchain applications, starting with Bitcoin’s Proof-of-Work consensus method, are today proposing solutions to this challenge. Can BFT and/or dBFT help solve this dilemma? Send us your comments. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)