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Bitcoin Taproot Upgrade - The Move In The Right Direction

Since 2017 much has changed. More users on the Bitcoin network than ever.
And with more users and its connection to the money… more privacy invasions.

Heck the entire companies have been setup to analyze and track blockchain, and all under the guise that Big Brother keeps on telling you for ages - “it’s for your own good”.

The upcoming Taproot upgrade is true to crypto, to Satoshi Dream and to privacy-oriented, permissionless ‘banking’.

Bitcoin miners are voting on the implementation of the Taproot upgrade, which integrates Schnorr cryptographic signatures that can be used instead of the current elliptic curve digital signature algorithm (ECDSA).

Taproot will be the biggest upgrade since SegWit in 2017, and will make multi-signature, multi-input transactions more private, efficient, and lightweight in data by combining a set of signatures into a single one. Such design will allow several ways to hide the number of participants involved in a transaction.

Taproot will be activated in November through a soft fork if 90% of miners signal their support in any of the 2016-blocks periods between difficulty adjustments — that happen roughly every two weeks.

First two week period showed failed to achieve so, but also showed us the light:

AntPool, F2Pool, Foundry USA, 1THash, Zeniq and SlushPool are already for Taproot and are including it in their blocks as a vote.

As opposed to Ethereum’s EIP-1559, there is no real opposition to it, so it will most likely be approved.

In case it isn’t, the hard fork like Bitcoin Cash before is highly likely. Just this time it will be done for the better.

The main benefit of the upcoming Taproot is: increased privacy. Although all retail can think of is reduced fees, Bitcoin is so secure and trustworthy network because of the difficulty and the fees. The fees WILL be reduced, especially those related to the Lightening network which will be able then be able to offer superfast, cheap bitcoin transactions. (The Lightning Network is a layer 2 solution that enables faster and more scalable payments that periodically anchor in aggregate form to the Bitcoin blockchain, offering eventual Bitcoin security while amplifying speed and potential throughput.).

The tricky part for its adoption is it requires 90% consensus, and the no-participation counts as a no-change vote. The first two-week period didn’t pass most likely because the miners didn’t get their heads around it or didn’t update their software, however, 30% of the blocks are already signalling the vote as you can see: https://taproot.watch/

We have roughly 3 months more to get the vote passed.

To us, this will be super important upgrade because it keeps Bitcoin true to crypto dream. This tough decision process, over time will regain strength back into Bitcoin. The flippening might happen this year that at some point Ethereum ‘steals’ Bitcoin’s marketcap, however, this upgrade, and the subsequent ones actually provide holders the most important thing whales and big capital seek - security of their holdings.

90%+ consensus process, going towards the privacy not the ‘consumer’ market, while allowing the tools to develop on top of Bitcoin (such as Lightning network)… is what makes Bitcoin #1 undisputed king of crypto space.

If you are mining Bitcoin, include Taproot vote in your signals, if you are in our pool or hosting with us, we have voted.

Thanks for your understanding and cooperation
TopTeam

Dear Zeniq Ultra's,

We are glad to announce the recent upgrade scheduled next month which will introduce extra services to generate extra income for our investors. Our investors will have extra opportunity to earn from our bounty program, affiliate commission, partnership program, co-location joint mining pool and representative commission which will also enable the earning of our coin through various airdrop. Get ready and anticipate bigger reward.

Thanks
Zeniq Ultra

Welcome back to Top News.

It’s been a thrilling month for the crypto community with BTC hitting all-time highs and institutional investment alongside major players like Paypal and Visa coming into the space.
Our Investors are taking advantage of the recent crypto wave, crypto investors globally are confident to invest in digital currencies and also introduce cryptocurrency investment to their friends and loved ones.

Will this add up to the biggest holiday shopping season ever for merchants accepting cryptocurrencies? Top News team is tracking it and we’ll be sure to let you know in the New Year!

We’ve been busy behind-the-scenes at Zeniq, from hiring our new Chief Support Officer to giving our investors the best investment experience. We even launched the new blog series “ Off The Ledger” in conjunction with coinpayment to make sure you’re always on top of your crypto game and to give you a unique perspective on blockchain, payments, fintech and more.

And, we’re just getting started! So many exciting things are coming for the Zeniq community so stay tuned.

In the meantime, we wish you and your loved ones a safe and wonderful holiday season!



Until next year,
Zeniq Ultra.

Dear Zeniq Ultra miners,



Please find below the payment rules for Antminer S19j-90T Machine Futures.



Payment rules:



10% to be paid by 5:00 am (UTC+8) on 15 December 2020 as First advance deposit;

40% to be paid by 15 January 2021 as Second advance deposit;

50% to be paid 45 days prior to shipment date, as Final payment.


Note:

1. The advance deposit will be transferred to the account of the manufacturer Bitmain and cannot be refunded. The expected Shipment date is July, 2021.

2. For the batch HWa22-Futures, Bitmain will confirm its production capacity by December 30,2020. If Bitmain has production capacity, then as stated above, you will be asked to pay the 40% of the total order amount by 15 January, with the 50% final payment due 45 days prior to shipment. If Bitmain doesn't have production capacity, we will not collect the second advance deposit and refund the first 10% deposit you paid by early February 2021.



Zeniq Ultra

Dear Zeniq Ultra users,



Zeniq Ultra has committed one Antminer S19-95T one month mining output as prizes to celebrate the Bitcoin hits $18,000 until 2020/12/15. For a limited time, all the new users will have the chance to win one month Bitcoin mining prize, paid in Bitcoin!



Start & end time: 2020/11/20 00:00 AM (UTC+8) to 2020/12/15 23:59:59 PM (UTC+8)



Participants must have signed up the Zeniq Ultra platform to qualify for rewards.



How to Participate?



New users can participate this campaign by entering your information here. https://www.sweepwidget.com/view/21545-e1hf3wql



Terms and Conditions:



1.The rewards will be allocated to winner's Zeniq Ultra account within 1 week after the competion ends, our agent will contact the winner for more details;

2.Zeniq Ultra will exclude any participants who have not signed up on Zeniq Ultra platform;

3.Zeniq Ultra reserves the ability to disqualify any participants showing signs of fraudulent behavior immediately.

4.Zeniq Ultra reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.

Dear Zeniq Ultra users,



All your Antminers S19-95T packages are back ONLINE on November 14,2020 after the relocation! Your mining machines are now running at the full capacity at thermal power stations.


Therefore, we hereby inform you that electricity price will be adjusted from $0.045 to $0.0526 per Kwh/s from 0:00 on 14, November 2020. Thanks for your understanding and support.


For any queries or concerns, please feel free to contact Zeniq team: info@Zeniq


Zeniq Ultra

Dear Zeniq Ultra Miners,



As the wet season in Sichuan, China ends, we decided to transfer and relocate all the Antminer S19 machines to thermal power stations to optimize the profit, as a result, all the mining batches will see a temporary power outage since November 08, 2020.


This transfer is expected to last 7 -8 days, and your mining packages will be restored gradually once the transfer completes. During the transfer, there will be no mining output and no electricity fee will be deducted from your balance.


We apologize for any inconvenience caused to you.


For any queries or concerns, please feel free to contact Zeniq Ultra: Support@Zeniq.network


Zeniq Ultra

Dear Zeniq Ultra miners,


The new package from Zeniq Ultra, the world’s first ‘joint-mining’ platform for cryptocurrencies, reduces the entry barrier for Ethereum mining like never before.



SHANGHAI, November 3, 2020 — Zeniq Ultra, the world’s first ‘joint-mining’ platform, aimed at lowering the entry barrier and risks associated with cryptocurrency ‘cloud mining’ products, today announced support for Ethereum on its platform. Zeniq Ultra users can now enjoy full-service mining equipment co-location on its platform for mining two cryptocurrencies: Bitcoin, whose mining packages were announced by Zeniq Ultra in July, and Ethereum.



This year saw a surge in the popularity of financial products under the moniker of “DeFi”, short for decentralized finance, most of which are built on Ethereum’s blockchain. This resulted in historic surges in transaction fees on the Ethereum blockchain, more than doubling the financial incentives for Ethereum mining. To allow more people to be able to participate in Ethereum mining, Zeniq Ultra has now added a new package for Ethereum mining to its joint mining platform.



Zeniq Ultra’s ‘Joint Mining’ — No charge until break-even



Once Zeniq Ultra users purchase mining devices, at cost price, on its platform, Zeniq Ultra does the rest. After procuring the mining devices for its users, Zeniq Ultra ships them to one of its industrial scale data centers across China, installs the devices and manages the devices for its users, all while keeping the users updated on every step through its platform.



Zeniq Ultra provides its users some of the lowest electricity prices from across China at cost price. The current electricity rate of the new Ethereum mining package is $0.055/Kwh. Unlike cloud mining products, Zeniq Ultra’s joint mining products charge no fee from its users until they have broken even on their initial investment.



The mining revenue of Zeniq Ultra’s users is automatically settled on a daily basis according to the ETH/USD exchange rate at 8:00 AM (UTC+8). When these accumulated net revenues are equal to the cost initially paid by the user to purchase the mining devices, the user enters into a profit-sharing phase with Zeniq Ultra. In this phase Zeniq Ultra charges a percentage of the user’s net mining revenue as maintenance fee or service charge. This percentage varies from 18% to 30%, depending on the total accumulated investment of the user.



Making it easier for anybody anywhere to mine



In the new package, Zeniq Ultra’s users can purchase an amount of computing power as low as 5MH/s, which currently has a price of less than $50. The daily net profit for this amount of computing power on the platform has been an average of $0.1175 during internal tests conducted by Zeniq Ultra over the past 30 days. The mining devices offered in the package are specialized cryptocurrency mining machines that have Advanced Micro Devices (AMD)’s graphics processing unit (GPU) model 5700XT-430 or 5600XT-320 at their core. The computing power of model 5700XT-430 and 5600XT-320 is 430MH/s and 320MH/s, respectively.



“We hope that more netizens around the world can participate in Ethereum mining and capitalize on the kind of surges in mining rewards that we saw during the recent DeFi hype, further contributing to the decentralization of Ethereum and the thus, the applications built on it,” said Mr. Jiang Zhuoer, Founder and CEO of Zeniq Ultra.



Joint mining with GPUs instead of ASICs



GPUs, popularly known as graphic cards, generally have about 30% of resale value after 2–3 years from their date of purchase. This is in stark contrast with ASIC-based mining devices, which have little to no resale value after 2–3 years from their purchase date.



Unlike the most popular ASIC-based cryptocurrency mining devices, GPUs can not only mine a plethora of popular cryptocurrencies such as Ethereum but also have other uses in high performance computing. Zeniq Ultra users who purchase whole units of mining devices on Zeniq Ultra have the option any time during the package to either re-sell their units to Zeniq Ultra or have them shipped to an address of their choice.



The new package can now be purchased on Zeniq Ultra, and will start mining on 30 November 2020.



Zeniq Ultra

Dear Zeniq Ultra miners,



Due to the end of the wet season in Sichuan, China, we are about to enter the mean-flow period, we hereby inform you that the electricity price will be adjusted from $0.033 to $0.045 per Kwh/s from 0:00 on 26, October 2020. This energy price is subject to another change in the middle of November because of the relocation of mining machines to Xinjiang or Inner Mongolia, China.


Zeniq Ultra 's joint mining is offering a real time mining service, to maximaze the users' profit, we, like other chinese miners, are migrating to Xinjiang and other regions located in Inner Mongolia in order to capture cheaper electricity rates at the end of October or at the beginning of November. And we will return to Sichuan next May for next six months wet season.


Thanks for your understanding!


Zeniq Ultra

You could change your mining revenue receiving address at any time.

After logging in, please click the Dashboard - Payment settings - Address Settings.

Next select the "Reset" and add your new address on the "Current address"

Click Next, and hit "Confirm".

Then all of your mining revenue would be sent to that address.

Minimum Bitcoin withdrawal amount for Bitcoin: 0.005 BTC

Minimum Bitcoin withdrawal amount for Bitcoin cash: 0.01 BCH

We are pleased to share that Zeniq® Registration Statement on Form 10 is now effective. This means that Zeniq* has become an SEC reporting company. The Trust’s shares are now registered with the SEC, pursuant to Section 12(g) of the Exchange Act of 1934, as amended (the “Exchange Act”).

With this update, accredited investors** who purchase shares in the Zeniq private placement will have an earlier liquidity opportunity, as the statutory holding period will be reduced from 12 months to 6 months, provided the other requirements under Rule 144 of the Securities Act of 1933, as amended, have been satisfied.***

For more information, please refer to the press release. We also encourage you to view our FAQ page for further details on the Form 10 process and its effect on investors.

To the extent that you have any questions, please feel free to reply directly. If you're an accredited investor and are interested in gaining exposure, we invite you to consider investment, which is currently open for daily subscription.

We look forward to continuing to serve you as we celebrate this important milestone.


All the best,
The Zeniq Ultra
*The TOP Private Placement is offered to accredited investors.

**An accredited investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).

***The holding period reduction becomes effective after Zeniq has been a reporting company for at least 90 days and has satisfied the

Zeniq Ultra Partners with Matrixport to Accept USDT
Signapore, September 21, 2020 — Zeniq Ultra announced today that it has partnered with Matrixport to accept Tether (USDT) payments on its website, which is the first-of-its-kind ‘joint mining’ platform for netizens around the world. As a result of this partnership, USDT payments from Zeniq Ultra users would be collected and custodied for Zeniq Ultra by Matrixport’s enterprise-grade ‘Cactus Custody’.



New users of Zeniq Ultra would now also have the option to pay in Tether (USDT) in addition to the previous Bitcoin (BTC) payment option. This gives users a new workaround when either of the two payment options has higher network congestion or transaction fees. Furthermore, paying with a stablecoin such as USDT isolates users from the volatility, and thus worries, of BTC’s exchange rate.



Netizens around the world who would like to participate in bitcoin mining without the risks and uncertainties that are associated with purchasing and managing mining machines themselves, can do so using Zeniq Ultra’s one-stop ‘joint mining’ solution. Zeniq Ultra does not charge any fees from its users until they break-even, after which they automatically enter into a revenue sharing arrangement with Zeniq Ultra. This reduces the risks and uncertainties that are associated with cloud mining products.



“This partnership with Matrixport is another step in our efforts to make it easier for everyone everywhere to participate in bitcoin mining,” said Mr. Jiang Zhuoer, the founder and CEO of Zeniq Ultra. “Netizens everywhere now have the option of paying with a stablecoin to participate in what is likely the most cost-effective and easiest way for people to mine Bitcoin without themselves purchasing or operating mining machines.”



Matrixport’s ‘Cactus Custody’ product originated from Bitmain’s proprietary custodian solution in 2017 and further evolved into a third party qualified custodian in 2019. It aims to provide a secure, transparent and efficient custodian solution to institutional businesses and investors in a new digital economy. Using cutting-edge security systems and infrastructure, Cactus Custody continuously safeguards over $500million worth of digital assets for mining clients and financial institutions.



“We look forward to turning our long relationship with the Zeniq Ultra into a formal partnership by collecting digital assets on behalf of Zeniq Ultra and securing them with the highest industry standards,” said Ms. Cynthia Wu, Head of Business Development and Sales at Matrixport.



About Zeniq:
Zeniq is a leading cryptocurrency mining pool founded in January 2014. Established by a group of blockchain enthusiasts with IT background from top universities in China, Zeniq has remained a top-ten bitcoin mining pool for years. Zeniq also mines bitcoin on an industrial scale, running more than 200,000 mining machines, with mining farms operations in Sichuan, Xinjiang, Yunnan and Inner Mongolia.



About BTC.TOP: BTC.TOP is a leading cryptocurrency mining pool founded in January 2014. Established by a group of blockchain enthusiasts with IT background from top universities in China, BTC.TOP has remained a top-ten bitcoin mining pool for years. BTC.TOP also mines bitcoin on an industrial scale, running more than 200,000 mining machines, with mining farms operations in Sichuan, Xinjiang, Yunnan and Inner Mongolia.



About Matrixport: Founded in February 2019, Matrixport is the gateway to the digital economy where you can trade, custody, invest and borrow crypto assets all in one stop. With rich industry resources and leading technology capabilities, Matrixport aims to create the next generation digital financial service platform. Our vision is to enable a more open and equal financial system using blockchain technologies.



About Cactus Custody: Originating from Bitmain’s proprietary custodian solution in 2017, Matrixport offers Cactus Custody, an evolved version, to safeguard assets for the industry. Cactus Custody is a qualified custodian and a Hong Kong trust company that meets the capital reserve requirement and acts within regulatory and Anti-Money Laundering (AML) guidelines.We provide services to the world’s largest and most renowned mining company, mining pools, cloud mining platforms, exchanges, funds and OTC dealers, supporting our clients to grow and scale in a secure way.

BTC.top Launches ‘Joint Mining’ Platform, as a Cloud Mining Killer

The Chinese mining pool is offering an alternative to cloud mining, charging fees only after their equipment starts to pay for itself.


BTC.top Launches ‘Joint Mining’ Platform, Pitching It as a Cloud Mining Killer

NEWS
China-based mining pool Btc.top wants to upgrade the concept of cloud mining, which allows users to mine crypto remotely by buying a certain amount of hash power from a third-party, with what it calls “joint mining.”

Announced on July 25, the company’s new “joint mining” subsidiary Zeniq Ultra aims to reduce the risks associated with “popular cloud mining products” by offering more flexibility.

Specifically, Zeniq Ultra claims to charge service and maintenance fees to its users only after they have reached the break-even point, meaning that its customers start to share profits when their revenue is equal to the cost they initially paid to purchase the equipment. According to the company, it then starts to charge from 17.5% to 30%, depending on how much their customers invested.

In addition, we offer mining equipment “at bulk order prices,” allowing users to either purchase shares in single miners, depending on how much terahash (TH) of hash rate they want to own or buy those machines in whole. The latter option supposedly allows the customers to withdraw their equipment from Zeniq Ultra’s mining farms located across China and have it shipped to a destination of their choice, or re-sell their miners back to the company at the resale market price.

“I estimate that other industrial scale mining companies would also soon start offering similar joint mining products,” Btc.top founder and CEO Jiang Zhuoer told Cointelegraph, adding that he expects the offer to be popular among both retail and institutional clients:

“Although Zeniq Ultra is aimed at making it easier for individuals to participate in cryptocurrency mining, we believe that it would also attract institutional clients from around the world who would like to take advantage of our industrial scale infrastructure, strategic industry partnerships and lowest electricity rates from our data centers across China.”

According to Zhuoer, some of Zeniq Ultra’s joint mining users in China, where they premiered this program back in March, are willing to invest up to 10-20 million RMB, or $1.4 — 2.8 million. Now, the platform has launched internationally.

We charge around 3.3 US cents per kilowatt-hour, although it seems that the price can change once the rainy season in Sichuan is over since at least some of its mining farms are located there. Users are charged for the electricity their equipment consumes throughout the whole program.

Zeniq Launches 'Joint Mining' Platform, Users Pay After Breaking Even


Crypto mining pool Zeniq, via its subsidiary Zeniq Ultra, now offers "joint mining" - enabling users to buy hash power, as well as pay the fees and share the profit once their revenue reaches the cost of the equipment they initially bought.

"We hope to lower the entry barrier for those who would like to mine but cannot purchase or operate the mining machines because of various limitations," Jiang Zhuoer, founder and CEO of Zeniq, was quoted as saying in a press release.

Zeniq Ultra provides a variety of services, including hardware procurement at cost price. The company will not charge a maintenance fee until the user has broken even, they claimed, with the mining revenue automatically being settled by the platform on a daily basis according to the BTC/USD exchange rate.

More specifically, the platform offers to purchase the latest generation mining machines at bulk order prices directly from the manufacturers, including Bitmain, MicroBT, Canaan, and Innosilicon.

Furthermore, stating that Zeniq Ultra has access to cheap electricity prices, Zeniq Ultra can provide access to its users to the low electricity prices of its industrial-scale mining operations at cost price, they said.

"When these accumulated net revenues are equal to the cost initially paid by the user to purchase the miner, the user enters into a profit-sharing phase with Zeniq Ultra," said the mining pool. This is when the platform will charge a percentage of the user’s net mining revenue as maintenance fee or service charge, between 17.5% to 30%. The exact percentage depends on the user's total initial investment.

Zhuoer added that Zeniq Ultra offers shares in a single miner at cost price. A single share is exactly one terahash (TH) of hashrate. So, if a user wants to purchase one share in an Antminer S19 miner that costs USD 2,628.65 and has a total hashrate of 95TH, the share would be USD 27.67.

Users also have a choice to either withdraw their miners from Zeniq Ultra’s data centers in order to have them shipped to a wanted destination, or re-sell their miners to Zeniq Ultra at any point for the latest market price.

Read more Broadcast on

Crypto news...
https://cryptonews.com/news/btc-top-launches-joint-mining-platform-users-pay-after-break-7235.htm

Cointelegraph news..
https://cointelegraph.com/news/Zeniq-launches-joint-mining-platform-pitching-it-as-a-cloud-mining-killer/amp

Cointrust News..
https://www.cointrust.com/bitcoin-news/btc-top-rolls-out-joint-mining-program-calls-it-cloud-mining-killer/amp

Cointelegraph News..
https://cointelegraph.com/news/Zeniq-launches-joint-mining-platform-pitching-it-as-a-cloud-mining-killer

Ethereum wallet maintenance announcement
Dear TOPBTC users:
Due to the backwardness of the Ethereum wallet node, the Ethereum wallet is currently under maintenance
Affected by this, we have suspended Ethereum type currency deposits and withdrawals
It will be opened again after maintenance

TOPBTC TEAM
May 1, 2020

On the Miner Infrastructure Funding Plan

Recently Jiang Zhuoer of Zeniq announced the intention to create an Infrastructure Funding Plan (IFP) for Bitcoin Cash. This plan set off much discussion and debate within the Bitcoin Cash community. Some parties were opposed to the very concept of miner funding. Others were supportive of the intent of the plan, but had issues with different details of how it would be implemented.

In the subsequent weeks Bitcoin ABC has been monitoring community discussion closely, and communicating with Jiang Zhuoer and others in the mining space. As a result of community feedback, an updated Infrastructure Funding Plan has been created. The new plan addresses several of the major concerns expressed over the last few weeks. Bitcoin ABC has been requested to implement this plan in the node software, and as such will be including this implementation in the upcoming 0.21.0 release.

The updated IFP differs from the original in the following ways:

The plan will only go into effect if triggered by miners via BIP 9.
The amount is reduced to 5% of block reward.
The funds can go to more than one project, and can go to one of several in a whitelist.
The whitelist of possible projects was selected according to the following criteria:

Must be common infrastructure, things that different products build on top of.
The project must provide a “Public Good”.
The project must use open source software licenses compatible with other projects in the Bitcoin Cash ecosystem.
The plan should prioritize projects that are in need of money.
By applying these selection criteria, a whitelist was arrived at consisting of addresses for a General Fund, Bitcoin ABC, Electron Cash, and BCHD.

As a project, Bitcoin ABC believes that stable funding of Bitcoin Cash software infrastructure is vital to the success of the project. While we recognize that some aspects of this plan have been controversial, we believe that overall the benefits of the plan create the potential for a very exciting future in which Bitcoin Cash can grow and compete, and can reach its goal of becoming the best money the world has ever seen.

We would like to thank Jiang Zhuoer and other members of the mining community who have shown their desire to support Bitcoin Cash development. We are optimistic this plan will be a great success

TOPBTC has completed ABBC's new main chain switch

Dear user:

TOPBTC has completed the ABBC main chain switching work, and has opened the ABBC main chain recharge and withdrawal functions.


TOPBTC
September 21, 2019

Announcement on the official launch of Hashrate Reward

Dear TOPBTC users:

Thanks for your support and trust, the TOBPTC team is committed to providing quality service and a good blockchain investment experience. TopBTC has been widely released after the launch of the beta version of Hashrate online earning. In order to promote the popularity of blockchain games and promote and establish in-game credit mechanisms, the official version is now available today.

Online time: August 9, 2019, 3:00 PM

introduction:
Participants pre-bets the hash value of a future Ethernet block in a limited time, which is different from the traditional quiz game. Combined with the hottest blockchain gene, the game uses the player vs. player's peer-to-peer. The gameplay, the platform will be encrypted and calculated by MD5 after the block is released, and the result will be awarded. The winner will divide the total bet amount in the prize pool.

Through the future block hash value (can not be known in advance) + MD5 encryption calculation (can not cheat) + platform random seed (to prevent malicious brushing behavior) and other multiple mechanisms, both eliminate the possibility of players knowing the hash value in advance, and exclude the platform The possibility of the game itself to manipulate the game results, thus greatly guaranteeing the fairness and impartiality of the game.


Thank you for your support, if you have any questions, please send an email or consult the online customer service!


Zeniq team
9/8/2019

“If we don’t stop relying on Infura, the vision of ethereum failed.”

That’s how Afri Schoedon, release manager for the Parity Ethereum client, described one of ethereum’s most popular – and controversial – technologies on Twitter in October.

Infura handles around 13 billion code request per day and provides a way for developers to connect to ethereum without having to run a full node. And while the exact usage stats aren’t public, by creating a simpler method for interfacing with the network, it’s said to underpin the majority of decentralized applications in the ethereum ecosystem.

But here’s the thing: Infura is operated by a single provider – the ethereum development studio ConsenSys – and relies on cloud servers hosted by Amazon. As such, concerns exist that the service represents a single point of failure for the entire network.

“If every single dapp in the world is pointed to Infura, and we decided to turn that off, then we could, and the dapps would stop working. That’s the concern and that’s a valid concern,” Michael Wuehler, the co-founder of Infura, told CoinDesk in an interview.

While many of the projects recognize the importance of Infura’s contribution to ethereum – referring to the service as a pillar that holds up the developer community today – many, like Schoedon, feel that steps must be taken to seek a decentralized alternative.

“There is no point in having dapps connecting through Metamask to a blockchain hosted by someone else,” Schoedon tweeted.

And Schoedon isn’t alone in his interpretation. Rather, he’s met by a host of new efforts to dethrone Infura as the go-to connection point for developers linking their decentralized applications to ethereum.

For example, new full node incentivizations schemes like VIP node, Dappnode and DeNode seek to provide different kinds of alternatives.

Equally, infrastructure minimizing efforts such as light clients are gaining traction, as well as experimental software restructuring like Turbo Geth. And according to developers, what’s at stake is the very decentralization of the ethereum ecosystem itself.

“One of the issues that we’re facing in the space today is that decentralized application development is happening through centralized services,” Yalor Mewn, communications officer for Dappnode, a node incentivization scheme, told CoinDesk, adding:

“We are building all of this infrastructure on top of a bottleneck.”

An imperfect tool

Currently, there’s a total of 11,803 ethereum full nodes according to available data.

Speaking to CoinDesk, Wuehler said Infura accounts for somewhere between 5 and 10 percent of the nodes. Yet because the Infura nodes are highly reliable – under 24 hour maintenance – they’re accounting for a disproportionate amount of traffic.

“[We’re] effectively supporting the entire ethereum dapp ecosystem with the RPC traffic,” Wuehler said.

And that’s partially because, as of the time of writing, a full archive node is said to take over 1 terabyte of data – beyond what a conventional laptop can store. For developers, as well as users, this means that the storage requirements are frequently outsourced to companies that have the means to manage that kind of infrastructure.

“The way Infura works is they host their own full nodes and they open up an [interface] to allow you to easily access those full nodes,” Aidan Hyman, CEO and co-founder of ethereum research and development startup Chainsafe, told CoinDesk.

For example, developers frequently opt for Infura as a way to focus their efforts on software, while users are often drawn to in-browser tool Metamask to hold their cryptocurrency. And both route through the ConsenSys full nodes.

“Any dapp that uses Metamask also inherently depends on Infura (knowingly, or not). In that sense, nearly all dapps potentially depend on Infura,” Wuehler told CoinDesk.

The impact of this is that developers and users are less likely to run full nodes, meaning that the number of full nodes supporting the network decline. As the risk that Infura might become a single point of failure, there are other repercussions to a lack of full nodes as well.

Running a full node, for example, allows users and developers to keep much of their sensitive activity local, while Infura accumulates combinations of data from its users such as wallet address and IP locations.

“Privacy is an issue,” ‘Dapplion,’ the pseudonymous developer behind Infura replacement project Dappnode, told CoinDesk, adding:

“And Infura is hosted on Amazon. So what if Amazon says ‘You know what? Infura no more, just fuck off.’ Most of the dapps would be unusable.”

True decentralization

As such, several efforts are trying to find a viable and usable alternative.

For example, Parity Technologies has released a new code library for light client development, dubbed LightJS. Parity hopes that it will encourage developers to build light clients rather than relying on Infura as a service.

And that’s because, while they promise to be much less hardware and storage intensive, light clients are intended to maintain the same degree as decentralization as running a full node.

“Ideally, what we will see is less and less dapps connecting to Infura, and they will use a light client instead to achieve true decentralization,” Parity developer Amaury Martiny told CoinDesk.

The Turbo Geth project by Alexey Akhunov also seeks to completely restructure how ethereum software clients handle storage. In the latest version of the software rewrite, he’s decreased the storage requirements down to a fifth of its current size.

And several projects, such as Dappnode, Denode, and VIP node, target the underlying incentive layer to encourage more people to run a full node. And that’s because currently, unlike the miners that secure transactions on ethereum, full nodes are not rewarded in any way.

But VIP node, working on a grant that has been given by the Ethereum Foundation, uses the identifier with which full nodes connect to ethereum to dole out rewards to nodes that are online, that are paid through a subscription from developers wishing to use the service.

Another project, named DeNode, also creates a market between developers and node operators, but tries to decentralize the economic relationship between those actors as well.

To do this, DeNode uses a decentralized autonomous organization, or DAO. An initiative by Toronto-based startup Chainsafe, Denode was conceived in May at ethereum hackathon ETH Buenos Aires and is funded through a grant by the Ethereum Community Fund.

“The idea that we can build these structures in a decentralized way that allows for the democratization of power dynamics in economic systems,” said Hyman.

Finally, Dappnode, founded by blockchain developer Jordi Baylina, takes a different approach by allowing developers to set up a local network that is designed in such the way that it is easy to engage in dapp deployment.

“Someone sets it up the Dappnode and gives access to his family, his friends, a trusted circle of person-to-person connections that you have a trust bond. And then just with a couple clicks, as hard as it is to connect to Infura, you will connect to Dappnode,” leading developer Dapplion told CoinDesk.

On the horizon

Several of these projects – such as VIP node and Turbo Geth – also receive funding from Infura itself.

One of ethereum’s largest startups – the company behind Infura – Consensys is also funding a project, named Incubator, by which is trying to reduce Metamask dependance on Infura on its gateway to ethereum. Infura itself is also trying to diversify the number of cloud providers it relies on, so that it’s not purely reliant on Amazon, according to Wuehler.

“Our efforts are mainly about continually trying to push more and more decentralization into the way that our technology stack is delivered,” he told CoinDesk.

According to Wuehler, Infura’s popularity is due to a quirk inside the ethereum platform itself. And that’s because, by combining the functionality of bitcoin’s blockchain with a virtual machine that can execute decentralized applications, ethereum generates a wider range of data than simply transactions.

For example, as well as relying on a blockchain, ethereum stores what is known as the “state,” which is the sum of all computation on the platform. And as the quantity of ethereum users continue to grow, the size of the state keeps expanding as well.

The end result of this is that, as hardware gets increasingly more expensive and complex to operate – and due to ethereum’s underlying design – incentives aren’t in place to encourage people to do this.

“We didn’t create the problem, we are just a Band-Aid on the problem. We are just providing a solution that is needed,” Wuehler said.

Looking ahead, there’s work being done by ethereum researchers such as founder Vitalik Buterin to find a way to rewrite the underlying incentives so that full nodes can be rewarded for storing data, or what is commonly referred to as “rent.”

Such a change is now being considered for inclusion in a proposed upgrade named “ethereum 1x.” Currently targeted for 2019, in the interim, developers are focused on finding solutions that can be deployed immediately.

As Hyman from Denode told CoinDesk:

“Though we are working as a community on these long term goals we also have to be pragmatic and focus on the present. This is a problem that exists right now and has persisted in the space.”

contracts are potentially one of the most useful tools associated with blockchain, and they can enable the transfer of bitcoin and other cryptocurrency from external sources to BTop to activate machines around the world.

contracts are self-executing, business automation applications that run on a decentralized network such as blockchain.

And because they're able to remove administrative overhead, Smart contracts are one of most attractive features associated with blockchain technology. While blockchain acts as a kind of database, confirming that transactions have taken place, smart contracts execute pre-determined conditions; think about a smart contract as a computer executing on "if/then," or conditional, programming.

Essentially, once certain conditions of a smart contract are met – goods arrive in a port(mining machines), two parties agree to an exchange in cryptocurrency and mining power – they can automate the transfer of bitcoin, fiat money, or the receipt of a shipment of goods that allows them to continue on their transaction. Underneath it all: a blockchain ledger that stores the state of the smart contract and keeps it active.

Note.
An Investor can have as many Contract running simultaneously.

An investor can have numerous mining Hashrate running under one contract.

Earning on contract is daily.

Contract will not generate profit when machine is maintained, services in progress, installation, routing, cabling or distribution of new machine.

The company has the absolute right to withheld, uphold and system automatically pend any contract which violate the rule of the company until the terms has been reached by the investor.

All investors is bided by the underlying Anti-money Laundering and Counter-terrorism Financing rules.

All new (First time) higher contract must be activated directly from external sources/wallet for direct encryption and protocols linking.

All our contract uses different encryption algorithms.

Contract One uses Hi-Tech encryption mechanism.
Contract Two uses Deterministic encryption algorithms.
Contract Three uses Armoury Deterministic Encryption mechanism.
Contract Four uses Python based Lightening Network Armoury Encryption.

All funds are insured with Nexus Mutual, Evertas, Etherisc, Coincover, Aon and all cash transactions under FDIC. So all your funds is SAFU.

We do not want to limit ourselves with Bitcoin mining. Our goal is to provide maximum freedom of action for each partner. That is why we have implemented the possibility of mining a number of promising cryptocurrencies. To do this we reorganized our mining farm. Now mining is available using three algorithms: SHA-256, Scrypt and Ethash. You can monitor the work of the power you acquired for mining at any time 24/7.

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That is why our mining company became the first in terms of user growth in the first half of 2022. We are the best in terms of the number of investments received. At the moment, the number of attracted investments exceeds $ 1,000,000! It is worth noting that we have paid over $ 750,000 in profit to our partners and over $ 13,000 in reward for participating in Company Promotion.

The results of our work were evaluated not only by miners. Thank you for your support! Together we can achieve even greater results and consolidate our leadership in the market. Invest in Zeniq and earn now!