[New Tech] Crypto Currency Mining in your Browser
I suggest checking out this new tech start-up, Nimiq, and has built a very slick and super simple way to mine crypto currency through your browser using javascript.
Their team designed their Blockchain with ultra simplicity in mind. It's so dead simple that even my grandparents could be a miners with this system.
By making this browser based, it completely lowers the barriers for both the users as well as developers since there are not special installations required.
Another cool feature is that is will have a Mini-Blockchain scheme which will only have a low sync data megabyte total unlike some blockchains that require downloading multiple GBs to establish confirm with the network.
Something else worth pointing out but a bit nerdy to some... is that they plan to use Hashed Timelock Contracts (HTLC) in their Mainnet to allow for secure off-chain transactions which will give the system almost instant transaction times with extremely low fees.
The have built a test net for users to try it out here: https://nimiq.com/betanet/
(please note any coins mined are just test coins and will be burned at launch)
I found this project on Bitcoin talk and think it merits a lot more attention:
https://bitcointalk.org/index.php?topic=1952324.0
I've watched their daily vlogs which I think is really cool seeing a bunch of motivated coders working out of a Costa Rica jungle office (why not! :) They have come up with a completely new innovative concepts... and just going for it.
https://www.youtube.com/channel/UCJ1qu3KXwfmkGwBkU8F1jQg/videos
In vlog4, the main guy behind the project says this:
"We do have a break-through technology and it's unique. We're the first ones to implement it. So we don't need to create this whole long build up. We're going kinda launch with a Bang and that's why we're documenting this (with the vlogs)... and releasing it when we are ready to release it."
So check it out. Try their testnet to see what you think of the tech and see what you think of the team behind it.
They will be doing an ICO this month sometime. It's always a personal decision if you feel that a project warrants funding or not. But I think it has some solid potential to be a game changer and a long term winner.
Let me know what you think.
Cheers
This looks cool. I've always wished I could wrap my head around mining but at 70 something years old, it way too much for me to comprehend. If it's as easy as that test site then I'm in.
Heck I'll tech my computer down to local VFW to show them how they can do this. I talk to them down there about Bitcoins etc and they just don't see it's for them. But now it could be.
You're here at 70, I take my hat off.
That's some impressive keeping up, mate.
Wow... It would be great to see how they react to this on video.
62 here. I hope I'll be around long enough to gain something from this. :)
Yeah, this is pretty crazy. Thanks for the heads up! The youtube channel is pretty good as well. It looks like a great environment to work on a project.
I've been waiting for such an idea to come about and always that that the first company that can dumb down (for lack of a better term) mining could really make a killing.
I'm going to go read up on this and watch their videos. Appreciate the heads up!
This looks really great. I will surely have a look. It is so exciting to see new ideas and solutions popping up almost daily now. This makes me very confident in the ability of the cryptocurrency crowd to bring this industry to majority.