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Что такое Цифровой Рубль? Как он работает? Когда запустится? Это криптовалюта?

Антон Састрпцин — Thu, 02 Mar 2023 12:55:22 +0000

What is the Digital Ruble? How does it work? When will it be launched? Is it a cryptocurrency?

Антон Састрпцин Thu, 04/06/2023 - 15:26

Table of contents

Digital Ruble what is it: a quick answer

Highlights:

The digital ruble is not a cryptocurrency, but it is protected by crypto encryption and created on a centralized blockchain
The digital ruble is no different from the cash ruble and the modern non-cash ruble (bank transfer)
1 Digital ruble = 1 cash ruble (and non-cash too).
The digital ruble will not replace cash and non-cash payments, but will only complement them
You will not lose digital rubles, even if your bank closes!
The digital ruble belongs to the Bank of Russia
You can pay with a digital ruble abroad
The digital ruble will be launched in April 2023
The digital Ruble will not be traded on a cryptocurrency exchange, like, for example, USDT
Digital ruble reliable, fast and safe

What is the digital ruble?

The Digital Ruble (CBDC) is a new, official and additional form of the Russian national currency, which will be issued by the Bank of Russia in digital form (electronic). The digital ruble will be able to combine the properties of both cash and non-cash rubles.

Like non-cash money (online payment), the digital ruble makes remote payments possible. At the same time, just like cash, the digital ruble can be used offline - that is, even if there is no access to the Internet.

The digital ruble will be available to the following economic entities:

Citizens
All types of business
To all participants of the financial market
Government

Just like cash and non-cash rubles, the digital ruble will perform all 3 standard functions of money, namely:

Means of payment
Measure of value
Savings

Simply put, a digital ruble is the same ruble as the one used in a bank transfer: it cannot be touched (it has no physical analogue like cash), but at the same time its value is exactly the same as that of cash. It was created as a more convenient, modern means of payment to reduce costs (on logistics, commissions, production, etc.), and most importantly, it is faster, more reliable and safer. Yes, the digital ruble is not a cryptocurrency, but it has a centralized (state) blockchain and is protected by crypto encryption!

Important! If a user starts a digital wallet for a digital ruble only through 1 bank, and this bank eventually closes, then the user will not lose access to their digital rubles! Whatever the amount of digital rubles in the wallet, users will continue to be able to safely use their funds through other banks in which they are serviced!

Each digital ruble will have its own unique number, just like cash, so it will be easy to track their movement in case of theft.

Also, digital rubles can be bequeathed and inherited, while, importantly, close people (relatives) will be able to receive an inheritance from a digital account necessary to pay for the funeral, before the expiration of 6 months from the date of the announcement of the inheritance.

What is the digital ruble equal to?

The digital ruble is the same ruble as cash and non–cash.

Now 1 non-cash ruble = 1 cash ruble, and 1 digital ruble = 1 cash (or non-cash) ruble!

All 3 forms (cash, non-cash, digital) of the Russian ruble will be absolutely equivalent.

Digital Ruble to Dollar

As we wrote earlier, the digital ruble does not differ from the usual cash (and non-cash) ruble. Therefore, a digital ruble will cost the same to the dollar as a regular ruble!

When will the digital ruble be launched?

Initially, the digital ruble was planned to be launched in 2024. However, in February 2023, it was decided that the digital ruble would be launched in April 2023.

On this occasion , the Deputy Governor of the Bank of Russia said:

"The pilot phase will work with real operations for real people, but only for a limited number of them, with 13 banks that have declared their readiness."

List of 13 banks: Alfa-Bank, Sberbank, TKB, Ak Bars, VTB, Dom.RF, Tinkoff Bank, Gazprombank, Rosbank, PSB, Soyuz bank, SKB-bank.

Will the digital ruble replace cash and non-cash payments?

No, the digital ruble will not replace cash! It is considered not as a replacement for cash or non-cash rubles, but as an addition to existing forms of money.

Official response:

Simply put, not all segments of the population will be able to switch to the digital ruble. A vivid example of this is pensioners who will not be able to switch to a new, complex system. Many people are still more comfortable receiving cash and paying only with it.

It takes a lot of time to replace a cash payment with a digital ruble. At this stage, the digital ruble will be introduced to the masses, and after a few generations, when everyone will be able to use digital money without problems, they will be able to replace cash! But a complete replacement of cash is not yet planned.

What is the digital ruble for?

The most important advantage of the digital ruble over cash and non-cash payments:

The digital ruble will make payments even faster, safer and easier.
The development of digital payments will lead to a reduction in the cost of payment services, as well as money transfers.
The sender will be able to label digital rubles at will, so that the recipient spends them only for certain set goals. This ensures transparency of transfers and circulation of the money supply.

Now let's look at this in more detail.

What is the security of this system? All operations with digital rubles will take place on the regulator's platform, and they are also protected using cryptography. The Bank of Russia will be able to track transactions of digital wallets and guarantees the safety of money.

Why will the digital ruble be faster? Transactions with digital rubles pass through a digital wallet and this happens almost instantly and without pauses — 24/7 (for example, how the Fast Payment System (SBP) works now). This applies not only to transfers between people, but also payments to company accounts.

What is the convenience of the digital ruble over cash and non-cash payments? Anyone can conclude secure transactions (so-called smart contracts) directly on the regulator's platform. Under these contracts, payment in digital rubles will be carried out automatically with the strict fulfillment of the pre-prescribed terms of the contract.

What is the transparency of the digital ruble? The sender of digital rubles will be able to label them so that the recipient spends them only for the specified purposes. For example, parents will be able to label digital rubles that they transfer to their children, and the marked funds can be spent, for example, only on paying for lunches and travel (or something else).

All this will serve as an incentive for innovation both in the field of retail payments and in other areas, and will support the development of the digital economy. Reducing the dependence of users on individual providers will increase the stability of the country's financial system.

Will the digital ruble be able to pay for purchases abroad?

The digital ruble has not yet been put into circulation, so this answer is purely theoretical.

Theoretically, it is possible to pay for goods abroad, moreover, various states are already experimenting with cross-border payments in digital currencies.

But at the same time, when using the digital ruble, the same question arises as when using other types of money.

For example, if a user sends a digital ruble to China, then you need to make sure that the Chinese get the coverage they need for it (in rubles, yuan, gold, etc.). It will be necessary to set exchange rates for such types of transactions.

The main question for many is: "Will digital rubles be able to replace the bank cards or SWIFT bank transfers that are not working abroad?" - they may be able to, but, again, the answer to this question is still theoretical.

Advantages of the digital ruble

Recently, there has been a growing interest in the use of non-cash money.

The digital ruble should become a new, convenient, additional means of payment for both sellers and buyers, especially in remote, hard-to-reach and sparsely populated areas where access to financial infrastructure is severely limited.

Thanks to the digital ruble, the coverage of the population with financial services will increase, which will become more accessible, which will eventually improve the quality of people's lives.

In general, the advantages of the digital ruble are many: from reducing logistics costs to security and increasing the coverage of the population with financial services!

How to use a digital ruble?

Using a digital ruble will be as easy and simple as using a bank card or an electronic wallet (for example, Qiwi).

As we wrote earlier, all transactions of the digital ruble can be carried out both online and offline.

To perform transactions offline, without Internet access, users will be able to pay in advance by reserving a certain amount of digital rubles in their electronic wallet (this is similar to how you just put cash in your wallet at home), in places where cards are not accepted.

In the online mode, transactions are performed similarly by bank transfer (as with a bank card).

The main difference is that you can have any number of electronic or bank accounts, and only one digital wallet.

How to create a digital ruble wallet?

Presumably there will be the following procedure:

The user creates a digital wallet of the digital ruble using the mobile application of any bank (in which he is registered) participating in the digital ruble program (platform). Then he gets access through the applications of other banks connected to the platform.
Next, the user puts money in the wallet. Through Internet banking or mobile banking, users will be able to replenish their digital wallet with any amounts they need from their regular (current) bank account.
After that, the user can make transfers to organizations (online stores and others), ordinary people. To do this, you need to: specify the phone number of the recipient of digital rubles (the owner of another wallet), after which he will receive funds instantly. Please note that it does not matter which bank your recipient is a client of — the money between digital ruble wallets goes through the Bank of Russia platform.

How to pay for goods and services in digital rubles? Everything is simple here: digital rubles are transferred from your wallet to the wallet of the company (store). All you will need to make a payment is to scan the seller's QR code through the mobile application in your bank.

It is also very easy to convert digital rubles back into non-cash money. Digital rubles from a digital wallet can be transferred back to your bank account in any of your banks connected to the digital ruble platform!

What are the commissions of the digital ruble?

Users, sole proprietors and companies have the opportunity to create a digital wallet by signing a standard digital account agreement with one of the banks that is connected to the platform.

The bank, in turn, will charge a commission for transactions. However, these commissions will not exceed the amount set by the Central Bank.

According to the chairman of the Central Bank, digital accounts should reduce the cost of settlements.

The tariffs of the digital ruble will not be higher than in the current "System of Fast payments" (SBP), that is, they will amount to 0.4–0.7% of the amount.

Can scammers steal a digital ruble from accounts?

Quick answer: only by tricks such as social engineering.

The main thing here is to understand that the digital ruble is different from the non-cash payment we are used to, since it has cryptographic protection and is based on the blockchain!

All user data is kept in the strictest confidentiality with the use of the latest cyber defense technologies.

Any transaction in digital rubles takes place only if the user confirms it with his electronic signature.

But at the same time, you should not lose vigilance, since scammers will always try to lure money (for example, with the help of social engineering tricks).

At the moment, if the user transfers funds to scammers himself, or accidentally informs them of confidential information that will give fraudsters access to the victim's accounts, then banks will not always help to return the funds, or help, but the proceedings may drag on for a long time.

In the case of the digital ruble, it will be possible not only to compensate for the victim's losses, but also to quickly track down the movement of funds by criminals. All this is possible due to the fact that all operations with the digital ruble take place on a single, centralized platform of the regulator (centralized blockchain) and the actions of the attackers can be tracked and see which wallet the stolen funds went to.

Can the digital ruble create inflation?

The digital ruble will not create inflation, since more or less money will not appear in the country because of the digital ruble.

The digital ruble is just a new form of money! There will be no additional issue of money due to the appearance of the digital ruble, which means that this will not affect prices and their growth.

What should I do if something breaks?

The Bank of Russia will create a single portal for digital ruble users.

Applications from users will be sent to 2 places at once: to the regulator and your bank, in whose mobile application the user could not, for example, receive a transfer or make it.

Users will be able to ask all these or other questions in real time 24/7 in the CB Online chat.

Now let's answer the question in more detail, what is the central bank's digital currency?

What is the central bank's digital currency?

The central bank's digital currency (CBDC) is money that can be issued by a country's central bank. They are called digital (or electronic) because they are not physical money like banknotes and coins (paper/metal money).

The central bank's digital currency can be represented as an amount on a computer or similar device.

The Bank of Russia is the central bank of Russia, and it is carefully studying the idea of a central bank digital currency for Russia.

The central bank's digital currency is a type of digital money.

How does the digital ruble differ from the cryptocurrency?

Most likely, you have heard about Bitcoin, Ethereum and USDT. These are examples of private digital assets (sometimes called cryptocurrencies or crypto assets). CBDC differs from crypto assets in several important aspects:

Firstly, crypto assets are issued privately. If something goes wrong with the crypto asset, the central bank or the government will not be able to intervene.
Secondly, the value of the crypto asset is unstable. It can rise or fall quickly in a very short period of time. This is not ideal when making payments. Unlike cryptocurrencies (such as Bitcoin), digital rubles will be stable and retain their value over time!
Also, cryptocurrencies are decentralized and this is not always good. The digital ruble will be fully centralized and supported by the state.

As we have already said, cryptocurrencies are not regulated and are most often decentralized. Their price is determined by investor sentiment, external political situations, regulations, use and interest on the part of investors.

You need to understand that cryptocurrencies are volatile assets that are more suitable for speculation (earning on the difference in exchange rates, holding coins before the onset of growth - hype, and others). All this makes them impossible candidates for use in a financial system that requires stability.

CBDCs reflect the value of the fiat currency and are designed to ensure stability and security.

How does the digital ruble differ from the modern cashless payment?

From the point of view of the use of bright differences will not be. The digital ruble will be faster than non-cash payments (as for domestic and foreign transfers), and it will also become much safer and more secure.

Also, users affected by fraudsters will now be more likely to return the stolen funds (meaning those that they sent themselves, due to the same social engineering).

In general, all this is very similar to a standard, familiar to everyone, bank account, but with one very important difference.

At the moment, the money of users (enterprises, etc.), lies on accounts in commercial banks. Digital rubles will be stored directly in the Central Bank, that is, with the state, which is more reliable and safer.

Is the digital ruble a cryptocurrency?

Despite the fact that the idea of digital currencies of the central bank (CB) comes from cryptocurrencies and blockchain technology directly, CBDC are not cryptocurrencies.

CBDC are controlled by a central authority - the state, whereas cryptocurrencies are almost all decentralized, which means that they cannot be regulated by one authority, and they also lack guarantees of consumer protection and their value is subject to serious fluctuations (volatility).

On the official website of the Central Bank, there is a detailed answer whether the digital ruble is a cryptocurrency:

"The digital ruble is an obligation of the central bank, implemented through digital technologies and has nothing to do with "cryptocurrencies". This is a fiat currency, that is, a currency whose stability of functioning is provided by the state in the person of the central bank"

How does the digital currency (digital ruble) differ from Stablecoin?

The most important difference between a digital currency (of any country) and a stablecoin is that the stable coin is not official, it was issued by a private company. Yes, most often it is tied to some asset (USD, EURO, oil or gold, and so on), and the digital currency belongs to the state, and it regulates it.

If the stablecoin dies, depositors will lose all funds, and the digital currency is supported by the state, and it will always regulate all processes.

A striking example is the stable TerraUSD coin (USTC), which collapsed in 2022 and all depositors (holders in this coin) lost all their funds!

Also an example of the Tether (USDT) coin, which had courts with the US SEC at the beginning of 2022, because of which the price of the stable coin sank a little.

Therefore, from the point of view of reliability, the digital currency greatly benefits, since it is protected by the state!

Will cryptocurrency exchanges accept the digital ruble?

In our usual understanding for exchange on the stock exchange (example of exchange: USDT / BTC), there will be no such listing, and it is impossible.

Most likely, cryptocurrency exchanges that now allow you to deposit /withdraw Rubles will accept a new type of replenishment with Rubles on their platform – through the Digital Ruble platform.

However, this may not happen.

Is it possible to make money on the digital ruble as a cryptocurrency?

Нет, цифровой рубль, как мы уже сказали, это такой же рубль, как и наличный. Он не подвержен высокой волатильности, как криптовалюты, такие как, к примеру, Bitcoin.

Therefore, you will not be able to earn on a digital ruble as a separate asset (in the usual sense of earning on cryptocurrency), but you can use it as an accumulation!

Conclusion

Цифровой рубль – это будущая ступень развития платежной системы.

This is a really convenient, innovative, modern and most importantly reliable (safe) solution.

The digital ruble has a huge future that will soon affect all of us!

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Blockchain

Что майнить после перехода Ethereum на POS? Список профитных для майнинга монет. Стоит ли собирать майнинг фермы?

Максим Анисимов — Mon, 05 Sep 2022 12:58:32 +0000

What to mine after switching Ethereum to POS? A list of profitable coins for mining. Is it worth collecting mining farms?

Максим Анисимов Tue, 09/06/2022 - 13:45

Table of contents

On September 15, 2022, Ethereum switched to POS. People have a lot of questions:

Will mining be profitable further?
What to mine? Are there any more profit coins?
Which is better: sell mining farms? Or keep it for yourself?
Is it worth collecting new mining farms?

We will answer these and other questions in this article!

Please note, this article is not financial advice! It's up to you to decide what to mine / buy!

Why can't Ethereum be mined anymore?

Ethereum is one of the most profitable cryptocurrencies for mining on the GPU. Since its creation (July 20, 2015), the cryptocurrency has been working on the Proof-of-Work algorithm, that is, it could be mined on video cards.

Since September 2022, Ethereum has switched to a new algorithm - Proof-of-Stake. This algorithm does not support the usual mining on video cards for everyone.

Now the confirmation of the network will be carried out only with the help of validators. They will carry out work on confirming new transactions using Staking and receive a reward in Ethereum for this.

The current yield for Staking ETH is 4 - 4.5%. To become an Ethereum validator, you must have at least 32 ETH on a deposit contract.

Profit coins for mining after Ethereum leaves for POS

At the time of writing (September 2022), there are many profitable coins for mining on video cards. These are coins such as:

Coin	Algorithm	Miner
Ethereum Classic	Etchash	Phoenixminer
Kaspa (KAS)	kHeavyHash	GMiner
Ravencoin	KawPow	GMiner
Ergo	Autolykos	Lolminer
Neoxa	KawPow	GMiner
Conflux	Octopus	Nanominer
Sero	ProgPow	PhoenixMiner; ProgPOW Miner
Zano	ProgPowZ	T-Rex miner
Aeternity	CuckooCycle	Bminer
Flux	ZelHash	Lolminer
Firo	FiroPow	Nanominer

And many other coins. As you can see, there are a lot of POW coins on the market and they are all trading well:

Therefore, there should be no problems with mining and selling these coins.

The main thing is not to store coins directly on the exchange, use wallets: official, multi-currency, hardware and others. Storing coins on the exchange is very dangerous, since there have been many cases of hacking exchanges in the entire history of cryptocurrencies.

But how profitable are these coins? Will they be able to generate the same income as Ethereum did? We'll talk about this in the next chapter.

How to continue mining after switching ETH to POS (September 15)?

There are several mining scenarios after Ethereum leaves for POS:

On September 15, you can manually switch your mining farms to another coin, for example, to Ethereum Classic, Ravencoin, Ergo or any other coin. To do this, you will need to create in advance .Bat file for the desired coin. The following miners are suitable: Phoenix Miner, Lolminer, GMiner
The second option is to configure the desired coin in advance using the reserve pool (Failover Pools). In Phoenix Miner, you can immediately put Ethereum Classic mining, as soon as ETH mining becomes unavailable, the miner will automatically switch to mining ETC. In Lolminer, you can also use the reserve pool to specify any other coin, for example, FLUX. As soon as ETH becomes unavailable, lolMiner will switch to FLUX mining.

There is nothing complicated in this, just do not forget to set up your rigs in advance in a way that is convenient for you.

We will discuss which coin is better to mine after leaving ETH for POS later in the article.

Mining income after leaving Ethereum for POS. Who will replace Ethereum?

Ethereum has been the leader in GPU mining for the last couple of years! Most often, this coin was the most profitable and helped to quickly recoup the collected mining rig.

But what about now? What coin can replace Ethereum?

As we have already said, there are many profitable coins for mining. From time to time they will compete with each other for the first place.

At the moment, there is no clear leader, but there are top successful, reliable and profitable coins:

Ravencoin
Ergo
Firo, Flux and etc.

Ethereum Classic is a reliable and also profitable coin (which is worth mining for a long time – use a hold), but we did not include it in the top 3, because there is one thing here, which we will talk about later.

Please note that all these places are not stable, and may change frequently (depending on the hype of a particular coin, complexity, and so on).

Why have we singled out Ethereum Classic separately? The thing is that Ethereum Classic is mined not only on video cards, there are still many Asics under this algorithm (the lion's share is with up to 4 GB of memory). The DAG size of the ETC file is 3.063 Gb.

This means that asics with 4 Gb of memory can safely mine ETC. And with the departure of ETH to POS, the complexity of ETC will become even greater (new video cards that left ETH will be transferred), which means that the income from this coin will temporarily decrease.

Etc will overcome the DAG mark of 4 GB only in August 2025, and it is not a fact that even more new Asics with a DAG size above 4 Gb will not appear under this algorithm!

Now let's see how much all these coins bring in mining and how much are they behind Ethereum?

All further calculations will be carried out on 1 video card – Nvidia 3080 LHR.

Ergo

Let's start with the most profitable (at the time of writing) coin – Ergo.

One video card can make a profit:

$2.00 per day (without deduction of the light fee).

At the time of writing, 1 GPU 3080 LHR brings (Ethereum):

$2.13 (without deduction for light).

It turns out that the payback on the Ergo cryptocurrency will be a little bit longer, unlike Ethereum, but this difference is not critical. ERGO also trades well and is represented on 7 exchanges!

Ethereum Classic

Ethereum Classic is the most reliable POW coin after ETH. Unlike other POW coins, it is in the top 20 coins by capitalization, is represented on a huge number of exchanges and has high trading volumes.

And what is important, many believe that ETC (after leaving ETH for POW) will become the new leader in POW mining!

At the time of writing, 1 GPU 3080 LHR brings:

1.13$ (without deduction of the light fee).

Yes, it is less than ERGO, but ETC itself is more reliable and is represented on 80+ exchanges, against 7 exchanges at ERGO.

It's up to you to decide which coin to mine. But do not forget to use the what to mine online calculator to check the profitability of a particular coin!

Ravencoin

This old and quite popular cryptocurrency is represented on 37 exchanges with large trading volumes.

At the time of writing, 1 GPU 3080 LHR brings:

$1.57 (without deduction of the light fee).

These are not bad indicators, considering what is happening on the market right now – "crypto winter".

Neoxa

A new cryptocurrency, the start of trading – 07/19/2022. The coin is traded on only 2 exchanges with a total daily trading volume of $1,319,067.

At the time of writing, 1 GPU 3080 LHR brings:

$2.05 (without deduction of the light fee).

At the moment, this is the most profitable coin for mining, but at the same time the most dangerous. If you have large capacities, then we would not advise you to hold this coin, since it is traded on only 2 exchanges and has relatively small trading volumes, which indicates its unreliability.

At any moment, the coin can be delisted from the exchange, it may turn out to be a scam, or the exchange where it is traded will be hacked at all, and the coin will become useless: there have been many such examples in the history of cryptocurrency

In our opinion, it is possible to mine this coin with small capacities and according to the following principle: sell 80% within 2-5 days, hold 20% for no more than 6 months in anticipation of a small hype and transfer the mined coins into more reliable assets, such as ETH, BTC, ETC.

Mining results after the departure of ETH

As you can see, there are a lot of profitable and reliable coins, and most likely more and more new coins will continue to fill this niche!

It is impossible to single out an absolute winner who will 100% replace ETH right now. At first, you will definitely have to use online calculators in search of a more profitable coin, since the first place will change from time to time.

Of the clear winners now, coins such as:

Ergo
Ravencoin
Flux, Conflux, Firo
Ethereum Classic

Of all the coins presented, the reliability rating will be as follows:

Ethereum Classic
Ravencoin
Ergo
Flux

It's up to you to decide which coin to mine. We will definitely leave part of the mining capacity on ETC and part of the power will be scattered over the remaining profit coins.

Is it worth selling mining farms because of the departure of ETH?

We can't decide for you because there are a lot of key factors here:

Price for electricity
The territorial location of the mining farm relative to your location
Models of your video cards
Video card status
Your attitude to mining

Next, we will reveal all these points in more detail.

Price for electricity

The first and most important point in the matter of selling mining farms is the price of your electricity.

If electricity is expensive in your region, above $ 0.25, then in this case you can think about selling a mining farm, since the rest of the coins (except ETH) are not so stable, and mining, especially in the midst of crypto winter, can be a minus for you!

Otherwise, if you have very cheap or even free electricity, you should not give up mining, since it will bring passive income.

But it's up to you to make the final decision.

Territoriality of mining farms

The second most important point. If you can't switch between cryptocurrencies often to find the most profitable cryptocurrency, then this is a reason to think about selling.

Yes, of course, you can mine one coin at once, for example, ETC or ERGO, but the coin rate may drop significantly, or the complexity may increase dramatically.

And in this case, mining of these coins can become dramatically unprofitable.

Of course, if you mine for a long time and are calmly ready to pay the price for electricity out of your pocket, then this should not interfere with you. However, if you withdraw some of the mined coins to pay electricity bills, this may become a problem for you.

Models of your video cards

If you have outdated models of video cards, such as AMD 470, 480, 570, 580 or Nvidia 1060 (3gb / 6 gb), 1050 T I, 1060, 1070, 1080 and below, then in this case you should think about selling.

Most likely, mining itself will profit you for another year or two, but in the future these cards will become useless.

Example of revenue from 1 AMD 470 graphics card:

They are already quite old in themselves and it makes sense to sell them.

However, if you believe in the hype of cryptocurrencies in the near future, you can wait for it and sell your mining farms much more profitable than selling them now – in the midst of the crypto winter.

Video card status

The state and model of the video card can be partially combined into 1 point. If you have old video cards and they are not in very good condition, then there is definitely a reason to think about selling them.

Even if you have new video cards, and they have not been cared for, they are in constant overheating, dust, then you should also think about resale.

However, if your cards are in perfect condition, the models are not old, then you can mine in plus for a long time!

Your attitude to mining

If you do not believe in the further profitability of mining or for you it has always been passive income, where you assembled a mining farm, put it to mine under Ethereum and did not touch the farm for months / years, then this is a reason to think about selling.

yes, you can also bet on a long-term, for example, ETC, but it is not a fact that it will always be beneficial for your video cards.

Or you can put the ERGO coin, which now occupies the 1st place after the departure of ETH, but it is not a fact that by mining this coin for a long time, it will not collapse in price, it will not lose interest from investors (people to whom you will sell this coin on the exchange) and so on, what was with many coins not from the top 50!

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Ethereum

Обзор аппаратного кошелька SecuX V20: как купить и настроить? Безопасность [плюсы и минусы]

Максим Анисимов — Thu, 27 May 2021 09:34:43 +0000

SecuX V20 Hardware Wallet Review: How to buy and configure? Security [pros and cons]

Максим Анисимов Sat, 10/02/2021 - 16:13

Table of contents

The world of cryptocurrencies is actively developing, more and more new people are learning about them. Most of the newcomers who enter this market for the first time, most often do not understand how and where to securely store cryptocurrency.

There are many ways to store cryptocurrency:

Official Wallet
Multi-currency wallet
Hardware Wallet
Exchange

In this review, we will talk about one of the most reliable ways to store cryptocurrencies – a hardware wallet. We will talk about a specific hardware wallet - SecuX V20.

As a bonus for our readers, you can get a 10%-15% discount on your order using a promo code!

SecuX V20 and W20 wallets - 15% discount with promo code - "bytwork".

SecuX W10 wallet - 10% discount with promo code "bytworkw10"

SecuX Store: https://shop.secuxtech.com/

What is SecuX V20

SecuX V20 - this is the flagship hardware wallet from SecuX, which is a relative newcomer to the cryptocurrency market: it was created in 2018.

The device has a large color touchscreen display, a battery for offline/offline operation, and communicates with the host via USB or Bluetooth.

The wallet is equipped with an Infineon secure element chip, certified CC EAL5+. Externally, the wallet looks nice, somewhat resembles a flattened hockey puck.

SecuX V20 Overview

SecuX V20 is elegant, durable and, most importantly, a convenient hardware wallet. The V20 is very similar to the company's other model, the W20, but has a premium metal body.

This gives it a value that can be appreciated by experienced users who own large amounts.

But is it really worth the extra money compared to the W20?

SecuX V20 is a hardware wallet that supports many major cryptocurrencies and thousands of Ethereum-based tokens. This is the top version of the offers of the Taiwanese manufacturer SecuX.

Other SecuX models are the W20 and W10.

Important! SecuX supports more than 1000 cryptocurrencies. The use of this company's products provides security, flexibility and ease of wallet backup using hierarchical determinism (HD) capabilities.

The SecuX V20 hardware wallet model provides secure cold storage by creating and storing your wallet's private keys offline. To do this, a special security chip is used to keep your private keys safe. More on this later.

It can also be integrated with third-party wallets to manage ERC-20 tokens.

The release of SecuX V20 has shown that it has become the flagship premium product of SecuX.

Read more about the characteristics of the wallet on the official website!

Who should buy SecuX V20?

Users who need a Bluetooth-enabled hardware wallet
Users who have many different coins
Traders who frequently make trades

Price

While the basic W10 model can be bought for just $69, the SecuX V20 costs a bit more.

If you need the latest hardware from SecuX, you'll have to shell out $139.

The real question is: Is the increased price of the additional features that SecuX V20 offers worth it?

Let's find out! To do this, let's compare it with other hardware wallets.

SecuX V20 vs Ledger Nano X?

Ledger Nano X is one of the most popular hardware wallets on the market. What are its differences from SecuX V20?

The Nano S doesn't have a touchscreen, but the SecuX V20 does
The SecuX V20 power button is more ergonomic
The SecuX V20 case is much stronger

The SecuX V20 is much heavier and stronger.

Ledger Nano X has Bluetooth connectivity, but the cheaper Nano S leaves you completely tied to your computer via USB, so no mobile transactions with it are really possible.

Using your mobile device (with the SecuX app installed) is less cumbersome and more discrete if you make transactions with SecuX V20 on the go.

However, it is worth noting that with the Bluetooth function, there may be some additional risks. SecuX V20 users should be aware of these risks and make a decision weighing them in terms of convenience.

And, of course, you can always go back to using the USB-C cable if it's more convenient for you.

Package contents of SecuX V20

After you unscrew the protective seals and open the SecuX V20, you will find the device itself, a microfiber cloth bag, as well as a USB Type C cable.

The delivery package also includes:

Two sheets for recording Seed phrases
Getting started guide explaining how to update the device firmware, enable Bluetooth and solve a couple of common problems

SecuX V20 design

Externally, the V20 is made of polished aluminum. This gives the device an excellent appearance and great elasticity.

The touchscreen is responsive and does not slow down!

One SecuX V20 button is the power button - it is well designed, even emits a soft pleasant click!

Compared to the Ledger and Trezor devices, the V20 is much larger. It also seems to be more durable, as its aluminum body is more resistant to loads than the plastic of many other hardware wallets.

SecuX V20 Security

Considering that SecuX is a fairly young company, it uses some of the most advanced security technologies.

Let's talk about some of them:

CC EAL5 + Secure Element

All SecuX hardware wallets use the so-called security element. The chip shown below is the latest generation chip that is installed in SecuX V20:

SecuX hardware wallets use the Infineon SLE Solid Flash CC EAL5 + Secure Element chip manufactured by a German company.

Your PIN code and private keys are created on this device and are protected from all outsiders (intruders).

Read more about the protection technology on the official website!

PIN code

When you turn on SecuX V20 for the first time, you will need to set a 4-digit PIN code.

This PIN is similar to the PIN of a regular debit card when you use it at an ATM. A PIN code is required to access and control the device.

The fault tolerance inherent in the PIN code is that the device erases itself after entering the PIN code incorrectly: maximum of 5 attempts!

No one will be able to access your device by PIN-picking, which means stealing your funds!

Passphrase support

SecuX V20 now includes support for a passphrase (seed phrase), also known as 25-word protection.

That's why it's important:

Remember - anyone who owns your seed phrase can access your wallet and empty it.
Another reason is to create a "dummy account" on your device, which stores a small amount of funds. The fictitious account acts as a defense against the so-called "five-dollar key attack".

Important! A hidden wallet is one of the unique features of SecuX Crypto hardware wallets. This is the equivalent of a "secret pocket" hidden inside a wallet. This is an alternative function, and if you choose "Create a hidden Wallet", you will have to set a different PIN (4-8 digits), which should be different from your first PIN. Then the wallet will ask you to set a "passphrase" (from 1 to 99 characters) to set up a hidden wallet!

In other words, if you create a hidden wallet in your hardware wallet, you will have 2 sets of private keys. The first private key manages your original wallet accounts with a seed phrase, and the second private key manages your Hidden Wallet accounts with a seed phrase and a given passphrase.

Creating a new wallet

When you launch your new SecuX V20 device, you will be prompted to create a new wallet or import an existing one.

Creating a new wallet is quite simple. V20 will show you a Seed phrase of 24 words.

Then you need to rewrite each word of the Seed phrase. Each word will need to be confirmed (that you have rewritten it) so that the next word of the Seed phrase appears.

Be sure to save the Seed phrase in a safe place. Don't take pictures of her. It is best to rewrite it on paper, and hide it!

Connecting SecuX V20 to a computer

The easiest way to send and receive funds to the SecuX V20 hardware wallet is to use an online interface called SecuXcess.

Go to SecuXTech and click "Secuxess" at the top right.

A new window will open. Here you can choose how to connect the device: USB or Bluetooth. You will need to enter a one-time password that will be displayed on the device.

Once this is done, you will be taken to the wallet homepage.

You will be able to view your account balances, as well as send or receive coins in your wallet.

Please note that Chrome and Opera are the only two browsers currently supported by SecuX.

SecuX Coins Supported

SecuX wallets currently support over 1,000 coins and all ERC20 tokens.

SecuX supports Bitcoin, XRP, Litecoin, Ethereum (and all ERC-20 tokens), as well as all the most popular coins, including:

Bitcoin Cash
Stellar
Litecoin
Tether
Doge
Binance Coin
Dash

Which OS does SecuX support?

Android
IOS
OS X
Windows
Linux

Conclusion

SecuX V20 is a great hardware wallet.

In addition, the touch screen and various connectivity options are its advantage.

Storing your keys offline with a SecuX hardware wallet is an excellent protection to ensure the security of your coins.

Pros:

2.8-inch touch screen
Bluetooth
Improved display
Support for multiple signatures and passphrases
The device timeout expires after a period of inactivity

Cons:

Higher price than other companies/models
Simple interface

As a bonus for our readers, you can get a 10%-15% discount on your order using a promo code!

SecuX V20 and W20 wallets - 15% discount with promotional code - "bytwork".

SecuX W10 wallet - 10% discount with promotional code "bytworkw10"

Shop SecuX: https://shop.secuxtech.com/

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Cryptocurrency wallets

Как майнить криптовалюту Abelian (ABEL) Алгоритм Abelhash? Майнеры, пулы, кошельки. Стоит ли майнить?

Максим Анисимов — Wed, 24 Apr 2024 19:28:34 +0000

How to mine cryptocurrency Abelian (ABEL) Algorithm Abelhash? Miners, pools, wallets. Is it worth to mine?

LeoGregori Tue, 05/07/2024 - 15:30

Table of contents

In this review we will tell you how to mine Abelian (ABEL) cryptocurrency: mining programs (miners), pools, wallets and more. The algorithm is Abelhash.

This article is not financial advice, it is up to YOU to decide to mine this cryptocurrency or not!

How to mine Abelian (ABEL) cryptocurrency: quick answer

Abelian cryptocurrency runs on the Abelhash algorithm. To mine it, you need to follow the steps below:

Get digital coin wallet: exchanges (MEXC, XT.com), official wallet (Windows, Linux, MAC), mobile wallet (Android / IOS)
Choose a pool that is convenient for you. Example: zkprovers.com
Choose a mining program (miner). Example: Rigel, TeamRedMiner
Create a .Bat file with settings
Start mining

Next, we will look at all of these points in detail.

Abelian system requirements and opinion on the coin. Review

Algorithm	Abelhash
Block time	3 минуты 49 секунд
Block Reward	256 ABEL
Official website	foundation.abelian.info
Explorer	explorer.abelian.info
GitHub	Нет
Wallets	Exchanges (MEXC, XT.com), official wallet (Windows, Linux, MAC), mobile wallet (Android / IOS)
Total coins	225179981

Abelian is a quantum-safe blockchain network that uses “post-quantum zero-knowledge” (post-quantum zero-disclosure proof systems) and cryptographic schemes to protect against attacks from quantum computers.

Its own ABEL token is completely confidential, thanks to innovative solutions using a bindable ring signature and zero-disclosure proofs developed by the project team.

In general, the Abelian project is not an innovative cryptocurrency, such coins are (were) already on the market. Therefore, the idea and goal of ABEL cannot be called new!

The coin is traded on only 2 exchanges:

MEXC ~ $190,000 a day.
XT.com ~ $5000 a day.

In general, the trading volume of this cryptocurrency is not large. If you have a large mining capacity, it will not be easy to exchange this coin! For miners with small capacities - to exchange the coin on the exchange will be easy!

It should also be noted that work on the project is rarely conducted, the project is half abandoned.

For the most part, the coin is “empty”, and it does not represent anything! Most likely such coin will live 1-2 hype and “die”, disappear from all online crypto calculators.

How to mine Abelian (ABEL), Abelhash algorithm?

Next, we will step by step explain how to start mining Abelian cryptocurrency (setup and start). Let's start with the first point: creating (getting) a digital wallet for Abelian (ABEL) coin.

Where and how to get a digital wallet for Abelian cryptocurrency? Which one is suitable?

Official wallet	Windows, Linux, MAC
Mobile wallet	Android / IOS
Exchanges	MEXC, XT.com

As you can see the coin has many different wallets, but unfortunately there is no the easiest and most convenient - WEB wallet.

The easiest and fastest way to get a digital coin wallet is on the exchange.

However, this method is the most dangerous, as exchanges are often hacked, they steal from users, shut down and so on!

Therefore, it is very risky to store coins on an exchange. The exchange should be used only for exchange!

Also, the coin allows you to install an official wallet under: Windows, Linux, MAC. However, it is better not to install such wallets (not popular coins) on the main PC, or on the PC where you store other wallets, more reliable coins.

This is due to the fact that throughout the history of cryptocurrencies, there have been not a few cases where coins were created with only one purpose - stealing the private keys / data of other wallets.

Another 1 way is a mobile wallet. In general, this is not a complicated and fast way to store. However, it is an unnecessary application in your smartphone.

How do I get an Abelian digital wallet in Abelian Desktop Wallet?

To get started, go to the official website of the coin. Go to the download section and download the wallet for your desired operating system.

Then you need to unzip and install the wallet.

Attention! Downloading and installing this little popular wallet, you should realize that there may be risks! Since in the history of cryptocurrencies, there were not a few projects, the purpose of which was theft of private keys and user data.

After you have unzipped the folder, run the file “Abelian Wallet”.

Next, think of a strong password. Repeat it.

Next, the Abelian Desktop Wallet control panel will open.

If you are a new user, the first thing you need to do is to create an ABEL wallet.

In the upper right corner, click on the “Select Account” button. In the pop-up menu, click on the “Create Account” button, to create an ABEL account.

A new window will open. In it you need to give a name to your ABEL wallet.

Before creating an ABEL wallet, name your wallet by entering any name you like. Next, click the “Create” button.

After waiting for a while, the message “Account created” will appear.

This shows that your ABEL wallet has been successfully created. Click “Done” to return to the control panel.

Congratulations, your wallet has been successfully created!

To receive a digital address, go to the “Receive” section. Below, click on the “Create Address” button.

Подождите пару секунд пока генерируется Ваш адрес. Далее Вы увидите его на этой же странице.

Example of an Abelian coin purse

The Abelian digital coin wallet is as follows:

abe15b0df1093572550137f6fe9d043c0d0e5762e03a6b2317d55b30d4946dac1e3a603f1da79b01053fac8a122a99fd26d9e4e3ddb19461320bf28bc3d7d274dddc

Abelian mining pool

You can use the Abelian mining pool - zkprovers.com.

Download Abelian mining software. Miners for Abelhash algorithm

The coin runs on the Abelhash algorithm, the following programs are suitable for mining:

Program	Series	Setup and download
Rigel	Nvidia	Download and customize
TeamRedMiner	AMD

After you have downloaded the program, extract the archive and create an Abelian Coin Bat file under a pool convenient for you.

Please note that on our website there are large, step-by-step setup instructions for each program!

Examples of configuring BAT file for different programs

Далее мы покажем, как настроить .BAT файл для монеты Abelian (ABEL) под разные программы.

Example of customizing a .BAT file under Rigel (Windows):

@echo off

@cd /d "%~dp0"

:: replace the wallet addresses with your own

:: mine to zkprovers

rigel.exe -a abelian -o stratum+ssl://pool-us.zkprovers.com:57778 -u 6bc2bc389805e5625246af16933609eaf0c6324c12afe3ec446b7d158caa4321 -p eTCOQ5eVm1 -w my_rig --log-file logs/miner.log

:: mine to abelpool

::rigel.exe -a abelian -o stratum+ssl://global-service.abelpool.io:27778 -u 6bc2bc389805e5625246af16933609eaf0c6324c12afe3ec446b7d158caa4321 -p eTCOQ5eVm1 -w my_rig --log-file logs/miner.log

Pause

How to mine on Amd

Download the program to mine NTL on AMD graphics cards:

Program	Series	Setup and download
TeamRedMiner	AMD	Download and customize

Pools and wallet we've covered above.

How to mine Abelian (ABEL): on Hive OS and RAVEOS?

This video details how to mine Abelian cryptocurrency on Hive os and RAVEOS:

Best video card for mining Abelian Mh/W

Below we have listed the best graphics cards for mining Abelian cryptocurrency and Abelhash algorithm in terms of mining efficiency (MH/W):

CMP 170HX	0.84 Mh/W
BC-250	0.69 Mh/W
RTX A2000	0.61 Mh/W
RTX 4070 Ti	0.6 Mh/W
RX 6650 XT	0.58 Mh/W
GTX 1660	0.57 Mh/W
RTX 3070 Laptop	0.57 Mh/W
RTX 3070 Ti Laptop	0.54 Mh/W
RTX 4060 Ti	0.53 Mh/W
RTX 4080 Super	0.52 Mh/W
RTX 3060 Ti	0.51 Mh/W
RTX A4000	0.51 Mh/W
GTX 1660 Ti	0.5 Mh/W
RTX 4090	0.5 Mh/W
RTX 4080	0.49 Mh/W
RTX 4070 Ti Super	0.49 Mh/W
RX 6900 XT	0.48 Mh/W
RTX 4070	0.48 Mh/W
RX 7600	0.48 Mh/W
RTX 4060	0.48 Mh/W
RX 7900 XTX	0.48 Mh/W
RTX A5000	0.47 Mh/W
RX 6750 XT	0.47 Mh/W
RTX 2070	0.47 Mh/W
RTX 3070	0.47 Mh/W
RTX 4070 Super	0.45 Mh/W
RTX 3060	0.45 Mh/W
RX 7900 GRE	0.45 Mh/W
RTX 3060 Laptop	0.45 Mh/W
RX 7900 XT	0.44 Mh/W
RTX 3070 Ti	0.44 Mh/W
RTX 3080 12GB	0.44 Mh/W
RX 7800 XT	0.44 Mh/W
RX 7700 XT	0.44 Mh/W
GTX 1660 Super	0.44 Mh/W
RTX 3080 Ti	0.43 Mh/W
RX 6950 XT	0.43 Mh/W
RTX 2060 Super	0.43 Mh/W
RTX 2060	0.42 Mh/W
RTX 3090	0.42 Mh/W
RTX 2080 Ti	0.42 Mh/W
RTX 3060 Ti GDDR6X	0.41 Mh/W
RTX 2070 Super	0.4 Mh/W
RTX 3080	0.4 Mh/W
RTX 3090 Ti	0.39 Mh/W
RTX 2080	0.39 Mh/W
RTX 2060 12GB	0.38 Mh/W
RTX 2080 Super	0.37 Mh/W
RTX 3050	0.35 Mh/W
P106-100	0.23 Mh/W
P104-100	0.22 Mh/W
P102-100	0.18 Mh/W

Hashrate of video cards in Abelian (ABEL) mining (Abelhash algorithm)

CMP 170HX	160.18 Mh/s
RTX 3090 Ti	128.5 Mh/s
RTX 4090	124.7 Mh/s
RTX 3090	122.15 Mh/s
RTX 3080 Ti	116.75 Mh/s
RTX 3080 12GB	110.33 Mh/s
RTX A5000	99.67 Mh/s
RX 7900 XTX	98.69 Mh/s
RTX 3080	96.96 Mh/s
RTX 4080 Super	87.95 Mh/s
RTX 4080	87.85 Mh/s
RX 7900 XT	82.18 Mh/s
RTX 3070 Ti	79.87 Mh/s
RTX 4070 Ti Super	74.02 Mh/s
RX 7800 XT	66.17 Mh/s
RTX 4070 Super	64.55 Mh/s
RTX 4070 Ti	64.54 Mh/s
RTX 3060 Ti GDDR6X	62.95 Mh/s
RX 6900 XT	61.79 Mh/s
RTX 3070 Ti Laptop	60.84 Mh/s
RX 7900 GRE	60.46 Mh/s
RTX 3060 Ti	59.48 Mh/s
RTX 3070	59.34 Mh/s
RTX 2080 Ti	59.26 Mh/s
RTX 3070 Laptop	58.77 Mh/s
RTX A4000	57.37 Mh/s
RTX 4070	54.57 Mh/s
RX 6950 XT	53.55 Mh/s
BC-250	50.22 Mh/s
RTX 3060	47.2 Mh/s
RX 7700 XT	46.87 Mh/s
RTX 3060 Laptop	45.5 Mh/s
RTX 2070 Super	43.63 Mh/s
RTX 2080	43.05 Mh/s
RTX 2070	42.99 Mh/s
RTX 2060 Super	42.95 Mh/s
RTX 2080 Super	41.79 Mh/s
RX 6750 XT	40.28 Mh/s
RTX A2000	39.79 Mh/s
RTX 4060 Ti	38.55 Mh/s
P102-100	34.64 Mh/s
RTX 2060 12GB	33.58 Mh/s
RTX 4060	33.39 Mh/s
RTX 2060	32.62 Mh/s
RX 7600	32 Mh/s
GTX 1660 Super	31.49 Mh/s
P104-100	29.85 Mh/s
RTX 3050	29.74 Mh/s
GTX 1660 Ti	29.26 Mh/s
RX 6650 XT	27.38 Mh/s
GTX 1660	22.39 Mh/s
P106-100	19.69 Mh/s

Is it worth it to mine Abelian (ABEL)?

To mine this cryptocurrency or not - it is up to you! This article is not financial advice. Below we will give our opinion about mining this cryptocurrency.

In general, Abelian cryptocurrency, as we said earlier is not unique! There are many such projects.

The trading volume of this coin is not large at all.

It is also worth noting that this coin, even on the most favorable for it GPU does not get into the top 5 (and most often in the top 10) profitable coins in online calculators!

In general, there is no point in mining it on video cards. If you want to hold some part of ABEL coins, it will be more profitable to mine any other coin from the top 2 in the online calculator for your video card and then exchange it for ABEL.

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Mining

Халвинг Биткоина 2028

Андрей Киров — Sat, 20 Apr 2024 17:46:23 +0000

Halving Bitcoin 2028

Андрей Киров Tue, 05/07/2024 - 15:12

Title and token:

BTC

Bitcoiin

Event details

The next halving will occur in 2028, and the reward will be reduced to 1.5625 for a miner who successfully processes a block of transaction data. The average block completion time is about 10 minutes.

It is expected that by about 2140, 64 bitcoin halving will occur before the 21 million BTC limit is reached, after which halving will stop and the blockchain will stop issuing new tokens.

Halving (halving the mining) happens to prevent inflation. How this will affect the Bitcoin price - read our research.

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Event type:

Halving

Халвинг Vertcoin

Максим Анисимов — Fri, 23 Jun 2023 13:23:07 +0000

Hulving Vertcoin

Андрей Киров Tue, 05/07/2024 - 15:11

Title and token:

Vertcoin

VTC

Event details

The next halving of the cryptocurrency Vertcoin (vtc) will take place on December 7, 2025!

Details

The number of mined coins will be reduced from 12.50 to 6.25 for 1 block!

Block time is 2 minutes and 29 seconds. A total of 84,000,000 VTC coins.

The coin is traded on a small amount

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Event type:

Halving

Halving Zcash

Андрей Киров — Mon, 27 Feb 2023 12:39:17 +0000

Halving Zcash

Андрей Киров Tue, 05/07/2024 - 15:11

Title and token:

ZEC

Event details

The halving of the Zcash cryptocurrency will take place on July 27, 2024 in block number 2092800. The reward per block will decrease from 2.50 ZEC to 1.25 ZEC.

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Event type:

Halving

StSAGA Airdrop

Андрей Киров — Fri, 03 May 2024 11:36:20 +0000

StSAGA Airdrop

Андрей Киров Tue, 05/07/2024 - 15:10

Event details

500 STRD per day is distributed proportionally among all stSAGAs. All STRDs allocated under the stSAGA airdrop can be claimed on September 1, 2024. StSAGAs stored anywhere in the Cosmos ecosystem are eligible to participate, including stSAGAs stored in DeFi apps

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