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BTCZ is achieving considerably faster transaction speeds than the ones of the BITCOIN. At the same time it is ultra secure using the PoW protocol with improved ASIC-resistant algos for maximized decentralization, along with the “Zeuz’ FingerZ” tech. Importantly, how to short altcoins BITCOINZ has its own genesis block, it is not a Bitcoin fork and is not an airdropped coin to Bitcoin (or any other coin) owners. No company structure as it is 100% Community Driven, with no central authority ever issuing & distributing coins.

  • With “Efficiency” we mean the best possible hashrate with the lowest possible power consumption.
  • At last but not least, you can get 24 hours help in the BitcoinZ Community’s Discord Server, by real and helpful people.
  • Additionally the temperatures could be rising to harmful levels reducing this way your hardware’s life.
  • In Cryptospedia every cryptocurrency definition is explained with simple words and paradigms.

Otherwise abusers would mine a few coins  just for some minutes claiming rewards. Prizes will be divided to winners proportionally depending on how much coins they mined in last 24 hours. With “Efficiency” we mean the best possible hashrate with the lowest possible power consumption. We do realize that the BitcoinZ Light wallet has a very friendly interface.

In addition you can monitor in percentage circles , the progress of  several subprojects that are part of the  unique BTCZ Ecosystem. It has the fundamental characteristics of the BITCOIN and extra features to make our life easier. This is extremely difficult but in such case, how to top up credit card the rewards are kept for future payments. At last but not least, you can get 24 hours help in the BitcoinZ Community’s Discord Server, by real and helpful people. You can find here a very easy video guide explaining how to mine BitcoinZ with your PC in less than 5 minutes.

Generate config for miner software

All these characteristics make BitcoinZ completely unique as it fixes every single flaw of the classic Bitcoin and at the same time it keeps all the revolutionary elements that it introduced taking the original crypto idea to the next level. If a user breaks the rules of the contest, how to buy ai doge by unfollowing the Community accounts or hiding his posts after winning a reward, he gets disqualified from the contest without any prior notice. This way the distribution of the rewards is decentralized encouraging the whole community to participate for an even easier win.

Each wallet option has different features and some of them support more than one coin type. For our example we are choosing the BITCOINZ Light wallet for Windows PC. We click this option and we are transported in the relevant GitHub page where we download the BitcoinZ Wallet Release 10.20 (the version might be higher after some time, this would be completely ok). Join minerstat and explore the most effective mining software options to boost your hashrate and earnings. Here you will find tips, tutorials and articles about digital coins (cryptocurrencies), the blockchain technology and their functionality. For a miner, the probability of finding a block is equal to their portion of the total hashrate (mining power) on the network.

With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine. The BitcoinZ Community does that in order to spread the original cryptocurrency idea to more people. Unfortunately it seems that the most ignore completely what a real crypto is or what definitions like “mining”, “freedom of transactions” and “Decentralization” mean. A weekly “Top likes” prize that is given in ranks and different rewards to three lucky people chosen from the top performing posts again.

  • Never send any native BTCZ to wBTCZ addresses or vice versa.
  • Bitcoin mining a block is difficult because the SHA-256 hash of a block’s header must be lower than or equal to the target in order for the block to be accepted by the network.
  • In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.
  • This way it protects the miners community so that virtually everyone is able to use his hardware in order to mine BITCOINZ and support its network.

For example there is a minimum mined coins requirement that would most possibly not be achieved if an average miner splits his power to many parts. Additionally the lower the hashrate of a miner, the smaller the proportion of rewards that he gets so such a trick would be useless. This is why there are minimum requirements for the number of coins that a contestant has mined during the previous day in order to claim a daily prize, or during the whole week in order to claim one of the bigger weekly prizes. In this list you can find some of the most popular mining pools that host BITCOINZ miners. There you can find the settings of each mining pool like the server url and port number in order to setup your mining application. You can earn the same prize type only once per week but by posting in both Twitter and Facebook for example, you get access to many different types of prizes coming from both the Twitter and Facebook/Instagram groups of rewards.

In the case that we receive any warning from real time virus protection software , we are ignoring this and we grant the needed permission in order to run the file. We run the .exe file from the subfolder where the BITCOINZ wallet 10.20 was uncompressed. We copy the the .zip uncompressed files that we had downloaded in the previous steps in our “mining applications” folder. We can now unzip them in their relevant subfolders that are automatically created with the unzipping procedure.

How To Start Mining BitcoinZ

The sweet spot where you get the best results with a logical consumption and a relatively low temperature. So we are going to use MSI Afterburner which is a free software that can help us to set a power limit, or specific clock speeds for the cpu and the memory of our card. We should never forget that hitting a “super high” mining speed is not always the smartest idea. Especially in countries with high energy cost, this could be a very bad idea. Because your energy cost would be disproportionately high. Additionally the temperatures could be rising to harmful levels reducing this way your hardware’s life.

Premium Hash-power 1.1

Like we mentioned above, each “like prize” will be given randomly to one eligible contestant whose post is between the 5 with the highest like amount and that hasn’t received that prize in that week. We have to underline that each GPU type and mining algo combination,  has different ‘ideal’ settings in order to achieve maximum efficiency. Even different variants of he same GPU might have some differences because some models are coming with higher power consumption or different memory types. So we strongly advice to experiment a little with your hardware and the Afterburner application in order to find the best efficiency for the power consumption and the temperature that you consider ideal for your case. We are going to site and we click on the menu “ABOUT BITCOINZ”  and “BTCZ WALLETS”.

Mining Contest

Let’s visit the site in order to choose a pool to join. By choosing a mining pool , we join other miners and we combine all our mining power. This way we have higher possibility to get block rewards especially if our mining power is low. BITCOINZ never did that, as it had its own genesis block and a completely unique blockchain. It never forkdropped any coins making specific cryptocurrency elites richer which comes in contrary with the cryptocurrency idea.

In such Cryptocurrency networks, all the crucial transaction information (blockchain data) is saved by everyone who wish to be a part of its network, empowering it. This way, there are copies of the data everywhere and you don’t have to trust an organization for the storage of your funds and their transaction history. Bitcoin mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block.

How Bitcoin Mining Works

The contest uses a sigmoid function in order to distribute the rewards to contestants with different hashrates. A weekly prize for a randomly chosen post of an eligible contestant. You can see the winners everyday by following the contest related twitter account . A post with the winners, their addresses and the rewards transactions are published every day.

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

This means that the miners with a small percentage of the mining power stand a very small chance of discovering the next block on their own. Another one with smaller reward that is given to a randomly chosen post of an eligible contestant. Find the most profitable ASIC miners based on profitability and hashrates. BITCOINZ is a cryptocurrency with immutable maximum supply & defined number of new coins entering the market, with halvings on its mining rewards every 4 years.

BITCOINZ is a minable digital coin which is using Zhash, an ASIC resistant algorithm. This way it protects the miners community so that virtually everyone is able to use his hardware in order to mine BITCOINZ and support its network. In this section you will find a list of the available mining pools and an analytical mining guide with some useful tips for BITCOINZ mining.