Can Bitcoin mining machines only dig BTC? Of course not, it can also dig BCH or BSV, but just like not being able to step on two boats, the three can only take one.
Joint mining has changed this game of play. For example, LTC (Litecoin) and DOGE (Dogcoin) are the most classic golden partners for joint mining. After halving LTC mining in August, currently, LTC mines supporting joint mining generally take every digging. One LTC will give 2,000 DOGE policies. This is like an airdrop, basically it is white.
Joint mining began in 2011 with bitcoin and domain name currency (NMC). Until today, the cottage cryptocurrency partnered with Bitcoin has been able to form a basketball team. Incomplete statistics, in addition to the domain name currency, also come to the cloud (ELA), rising coins (EMC), system currency (SYS), Vcash is the mainstream partner.
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▲ Token data collected in 2019/8/28, the donation data is not the same for different mining pools, and the general data is taken.
It is not difficult to find that in addition to coming to the cloud, the market value of other tokens that use joint mining is ranked 100. Although they may have been well-known, the current ecological communities and application scenarios have encountered problems.
Moreover, as can be seen from the above table, the profit ratio of these white altcoins and bitcoin can be said to be quite tasteless. It can also be seen from the turnover rate that they are not good at current liquidity.
What is joint mining? What is this parasitic life?
Dog currency, after the bitcoin is a big brother, I have a moisturizing day.
In 2014, the dog currency of Scrypt algorithm was dropped to 1/15 of Litecoin, and the price of attacking dog currency was only 430 US dollars. Therefore, under the suggestion of Litecoin founder Li Qiwei, the dog currency community was fierce. Controversy, ultimately helpless joint mining with Litecoin.
The principle of joint mining is difficult to understand, but you can understand the Litecoin as the main chain and the dog currency as the auxiliary chain. Through a technique called Auxiliary Proof of Work, the mining node After the block is released on the Litecoin, it can also be placed on the dog's coin. In the process, the mining node does not need to do any extra work, and even it does not know that it is digging the dog's coin.
There are also some requirements for performing joint mining. For example, the two chains need to adopt the same consensus algorithm. For example, Doracoin needs to carry out a protocol upgrade that may produce hard forks to achieve joint mining.
The dog's original experiment was successful, and the dog currency that shared the Wright currency calculation increased by 1500% in one month. At present, about 91% of the Wright currency is digging for dog money. What is interesting is that, technically, the cloud can also be jointly mined with BCH and BSV, so that the cloud can have the sum of the three computing powers. Just like NMC, from the perspective of computing power, the power of the cottage that has fallen behind is far higher than BCH and BSV.
The Coin Research Institute wrote a report when the Wright currency was halved. The report said that the Wright currency is halved every four years, and the dog currency can be halved. Therefore, the joint mining dog money has It may solve the problem of Lite's lack of miners' incentives in the future. However, this brain hole was quickly thrown into the trash by the researcher of the currency. Because the inflation rate of the two is different, the dog currency will gradually depreciate relative to the Litecoin. But is this really just a whimsical brain hole? It is important to know that the Dogecoin community is still very active, and it has also magically squeezed into the top 5 of the global cryptocurrency market capitalization list, and still ranks 27th in the rankings.
The dog's coin, the fascinating avatar does not hinder the rich story and dazzling light.
Will joint mining be a mine savior?
Joint mining sounds perfect. Why is this concept not only discussed in the dog coin transformation, but then there is no sound?
There are still many difficulties in this. In addition to the above mentioned conditions such as algorithm unification, joint mining is committed to others after all, knowing that even if the dog currency is willing to hold bitcoin thighs, bitcoin miners may not be willing to dig dog money, although mining There is no extra cost, but it also requires maintenance costs, such as adjusting the mining configuration, setting up a wallet, and so on. At present, even the above-mentioned several currencies that use joint mining with Bitcoin do not mean that all mine pools support it.
If a new currency without any community foundation wants to jointly mine, it basically means throwing yourself into the face of big calculations. If you fail, you will be defamed and attacked.
In 2019, the new cryptocurrency of the PoS class has a green light, and the new currency of the PoW class is increasingly scarce. Except for the PoW-type public chain project, it is difficult to control from the moment of birth. The PoW currency has to fight against 51% of attacks. too difficult.
ViaBTC Commercial Director Xu Haoyang told Babbitt that if the PoW-type new currency directly pushes the cost of the main net currency of the algorithm, the first is that there is no Asic mining machine. Even if GPU is used for dig, most of them will also have market value management, otherwise who will dig it? .
Even if PoW is micro-type, there are still a lot of small coins mined by GPU in 2019, and it is very hot. It runs out a few hundred times of coins, what kind of image coins, axe coins, crow coins, turtle coins, one has a story, there are gimmicks, You are welcome to say that this is not afraid of wearing shoes, but in fact it is in the dark forest of danger, no one knows whether it will be attacked suddenly.
So, these are some of the community-based small currencies, and most of them are the fork coins of the mainstream big currencies. Is it possible to open the trend of joint mining in the next few years? After all, relying on the fire of the fire, it is not easy to cross the long river of history, cross the bulls and bears, and always ensure that enough power is available to fight 51%. It should be noted that with the advent of the cloud computing platform, computing leases are becoming more and more simple, especially GPU computing power.
▲ mine currency pedigree
It is expected that in the 2020 BC halving of the high probability bull market will come, then, the cottage PoW coins may be sucked. If you don't come, the crown will fall, the bubble will break, and the price may collapse.
Once the price is gone, the miners will vote with their feet. So, is joint mining an outdated concept? Can it fire again? Perhaps the answer to this question depends on how many PoW currencies will surrender to reality, but they cannot give up completely. If they give up, they will return to zero. If they return to zero, they will not have to save themselves.