A Chia Fork Coin claims to be a Fair Chia alternative. Does Silicoin worth a look?

A Chia Fork Coin claims to be a Fair Chia alternative. Does Silicoin worth a look?

A new cryptocurrency that claims to be more fair, safe, and long-term debuted in trading recently. The virtual coin, called Silicoin(SIT) and forked from the Chia Network, advertises itself as “a fair and safe alternative” to Chia.

Despite their recent astronomical performance, cryptocurrencies are lately coming under fire for their massive carbon footprints. “Mining” virtual coins such as Bitcoin and Ethereum uses tons of energy as the machines behind these networks churn away at solving equations. For miners’ efforts—paying bills to operate powerful computers that confirm transactions on the blockchain, the distributed ledger technology underpinning cryptocurrencies—they receive coins as a reward (The process is called “Proof Of Work”). Thus, Chia presents an alternative to the status quo, relying on a process that it claims is far less energy-intensive than mining.

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What is the Silicoin Network

Although Chia seems to provide many benefits, the price of XCH still crashed, and many miners have to sell SSDs and HDDs. On the other hand, we knew that there were monopolies by HPool and some big miners in Chia Network.

Therefore, we urgently need a more fair, timeproof, and safe decentralized network ecosystem. Thus, as the best supplement of Chia Network, Silicoin came into being.

Silicoin combines a solution to the flaws of traditional mining by forming a new and unique mining logic. It aims to balance PoW and PoS truly and meets the original intention of Bitcoin and Chia: to make mining with ordinary equipment happen and to have the blockchain genuinely decentralized. Simple understanding, Silicoin added the staking function based on the Chia network. Thus, Silicoin is an upgrade of Chia that has staking.

Till December, Silicoin has more than 85,000 blockchain addresses in the network, more than 20,000 members in the community, more than 1500 PiB Netspace(calculated according to the staking formula) in mining daily.

How does Silicoin work?

In the traditional process of producing blocks, the more plots miners have, the greater the probability that they will be selected to produce blocks. However, there is a big difference in Silicoin Network. In Silicoin consensus system, the Individual Difficulty of every miner could be lower by staking SIT. As we all know, the lower the difficulty coefficient, the greater the probability of being selected to produce the block. That is to say, the miners who stake SIT are easier to win the blocks.

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The improvements of Silicoin work

Compared to Chia network, the miners will buy or keep more SIT for staking so that their mining income will be higher if they want to obtain higher returns. Then the staking will stimulate the demand for SIT tokens, and we can forecast that the price and value of SIT will keep rising in the long term. It solves Chia’s embarrassment – The price of XCH keeps dumping.

What’s more, the more plots Chia miners have, the greater the probability that they will be selected to produce blocks in the past. But in Silicoin network, the profit of the big miner who mines Silicoin without staking SIT is possible to be lower than the smaller miners who stake SIT more than the size of its plot. Therefore, it helps prevent the monopoly in mining and make a more miner-friendly environment for all Chia miners.

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The future

Silicon’s economic logic finds the use case of its token – SIT avoids the monopoly of giants’ monopoly and helps many miners increase their profits. In other words, Silicoin solved two big challenges of Chia and found a new way for the mining industry.

The idea of Silicoin has the potential to reduce the egregious electricity costs that traditional protocols otherwise procure and makes SIT tokens integrate into its long-term ecosystem and form a complete economic circle. As a result, it is definitely far more attractive to miners than similar projects.

Silicoin Road Map

The future is expected, the future is came, the future is blockchain, the future is Silicoin.

Wine Chain[WINE]

A joint initiative of eight famous French wineries, through the development and construction of the Defi+NFT+Gamefi chain of superb ecology! This allows the French wineries to count the preferences of a huge number of wine loving users from all over the world!

The first eco-ecology “Rich Fruit Farmers” is here!

Everyone is a fruit farmer, everyone can get rich, hard work is the most reliable wealth!

The game is only a basic version and is still relatively thin. The model is simple and easy to replicate, accelerated by planting vines and buying organic fertiliser, highlighting the extremely good planting output capacity. It will also continue to serve every fruit farmer to get rich in the time to come!

Smart investors are going to rush to buy vines and then buy organic fertilizers so as to accelerate the generation of income as the returns are huge. With the superb input-output ratio of the Get Rich Fruit Farmer game, WINE sales are sure to keep breaking new highs in the future. This step will also lay the foundations for WINE’s entry into the metaverse infrastructure!

Rich Fruit Farmer uses the simplest and most effective way to enrich every participating farmer: 1.

1. Double market referral reward model for vines + organic fertilizer.

2. A model for farmers to grow vines with high returns.

We will focus on the GameFi field, as long as the GameFi is good and strong, the game will bring its own SocialFi function.

Social gaming is the future trend of social networking. This is the reason why traditional social software, such as Facebook, has lost its huge youth market. Social tribes are constantly being segmented, see the rise of Discord for example. The diversity of scenarios that games provide for social interaction strengthens the tribes, and games can bring more social interaction as a result.

Social gaming will be the way of the future.

The meta-universe will be the main battleground in the future “GameFi linked SocialFi race”.

We understand that for users and players, time is the most scarce resource.

We use the ultimate simple reward and income mechanism, the Wine Chain WINE token, to enable users and players to earn significant wealth while participating in farming.

After all, the growth of wealth is a common human desire.

Therefore, for those of you who are willing to invest your time in the Wealthy Fruit Farmers ecosystem, the best reward we can offer is real money.

We also understand: the only way to upgrade a massively multiplayer land buying, planting, picking and brewing game to a meta-universe is to generate enthusiasm for continuous participation from users and players.

The Future Wine Chain WINE ecology is dedicated to creating new possibilities for the meta-universe, and we will build the WINE meta-universe by revolutionising the social and gaming paradigm.

BSC Coinan Smart Chain! PancakeSwap to buy!

[WINE] Unique Contract Address: 0x89c7ff169050bd0b1ceadf55931811c2e806d5ab

326e2d443e79423b08cb328e94cda7e

Silicoin 2nd AMA Summary on 27th Nov

Hello every one, the AMA starts now.

1. If there are multiple computers in one fingerprint, the pledge remains unchanged, but the number of pledged farmland in the computer wallet is the actual number of farmland, and the total number remains unchanged. Can a total number of pledges be shared by multiple computers? It should be that the number of farmland corresponding to the pledge has changed. The figure shows the total number of pledges in each wallet. It can be seen that different farmland corresponds to one pledge number, and each computer’s fingerprint farmland corresponds to the same total number of fingerprint pledges. If I open a virtual machine and divide it into n wallets for farming, will the income increase n times?

Separating wallets for farming will not increase revenue. The principle is straightforward. According to the address generated by the farmer public key of the plot file, the focus is clear. The stake to this address will be read when finding the proof and verifying the block. The balance of the address has nothing to do with the number of wallets.

2.The harvester mode can only be pledged to the wallet of the master node. The number of harvester farmland cannot be seen in the staking.

If you load the sit farm summary on the machine running the farmer service, you can see the number of plot files.

3. How timelord or other farmer verify that block winner or proof founder are not cheating the staking balance? please point out the part of code that do something like this verification.

The staking amount would affect the individual difficulty, which would affect VDF, the iteration of finding the proof. So basically, we don’t directly validate the staking amount, but validate the proof when receiving or syncing the blocks. You can find the code changes mainly in consensus folder.

4. Possible dev adding more info regard the difficult and netspace farming to show how many coin need to stake

Yes. It has been added into our schedule.

5. What about promised 1:1 split testnet- mainnet ?

Again and for the last time, Silicoin has never promised that tSIT will be exchanged for SIT 1:1. As mentioned in the earliest version of the whitepaper, all tSITs produced during the testnet phase will be exchanged for 500,000 SITs. Maybe some people had false information.

6. When do you expect to release a new whitepaper/roadmap and what changes should be expected?

At present, there will be no new changes to the white paper. However, about Silicoin’s roadmap and.future plan, please read this article https://www.sitnetwork.org/post/road-map-future-plan-_the-great-voyage-of-silicoin

7.You’ve done staking, people need SIT for getting better income, this way you get demand and high price on exchange. Sooner or later demand will drop after saturation of people staking wallets and this will drop SIT price too. What’s your next plans, will you support demand with other things, improvements or developments?

It is a good question. First of all, let’s talk about how the relationship between SIT’s future circulation and price may happen.As we all known, when the circulaion is more than netspace, the price of SIT is going to drop.

The initial premine is 1 million SIT but there are only 500,000 in circulation. Besdies,the daily output is 4608 SIT. It means the total mining output of 1st year is 1,681,920 SIT. So the maximum circulating 1 year later is around 2.1 millions.In other words,the price will not dump if the netspace could reach 2100 PiB. Honestly, it is not too difficult for Silicoin network to reach 2100PiB. Therefore, we can be optimistic that the price of SIT will be stay in a reasonable range.

However,staking should not be the only way that keep the price be stable. We must find the use cases for SIT as you mentioned. In fact, our team has made a plan since the mainnet launched.

1. We are exploring the possibility of using different addresses to stake. For example,A has 100 SIT but he dosnt has any plots. B has 100 plots but dosnt has SIT coins.If B could stake for A,then share the profits in a setted way, that it is cool, right? It could solve many problems such as the security of private key. But all this is still hypothetical. Our technical team has also made some proposals for this, but so far we have not found a solution that can be implemented.

2. Chia is very suitable for payment, Defi and NFT.Especially now that CAT is released,we will follow the pace of chia development and study how to merge these important functions into Silicoin.

3. NFT & GameFi is the most popular topic at the moment.Actually,there are some cooperation between Silicoin and other projects who focus on developing games on chain. We will make a statement after the cooperation is confirmed.

4. According to our whitepaper, we have a initail idea about the application node in step3. These nodes provides SIT mixing service and it will be an important use case for Silicoin in the future.

8. When will SIT finish SMART contract , DeFI . or something like that

I think it is a similar question with the last one. We are studying the codes of chia now and will merge them once we confirm there is no conflict with Silicoin. What we need to do at this stage is to found the underlying architecture of Silicoin and release more functions step by step in the future.

9.Why dont you list SILI on Binace exchange, Okex Exchange or Top 10 Exchange?

When SIT listed in trusted exchange? Citex is not tracked by coinmarketcap. I suggest small exchange but have “high confidence rating” in coinmarketcap like HOTBIT, LBANK, COINEX, or GATE.IO which already listed Chia.

We have also noticed the problem you mentioned.The marketing team is currently in the process of talking with some exchanges, and I believe there will be good news for everyone next month. In addition, our exchange listing plan is divided into three stages, gradually landing on larger and more popular exchanges.

The AMA today ends here. If you have other questions, please DM me. I will update the questions and answers on this channel.

A Chia Fork Coin claims to be an Fair Chia alternative. Does Silicoin worth a look?

A new cryptocurrency that claims to be more fair, safe and long-term debuted in trading recently. The virtual coin, called Silicoin(SIT) and forked from the Chia Network, advertises itself as “a fair and safe alternative” to Chia.

Despite their astronomical recent performance, cryptocurrencies are lately coming under fire for their massive carbon footprints. Mining coins such as Bitcoin and Ethereum uses tons of energy as the machines behind these networks churn away at solving equations. For miners’ efforts—that is, paying bills to operate powerful computers that confirm transactions on the blockchain, the distributed ledger technology underpinning cryptocurrencies—they receive coins as a reward (The process is called “Proof Of Work”). Thus, Chia presents an alternative to the status quo, relying on a process that it claims is far less energy-intensive than mining.

What is the Silicoin Network

Although Chia seems to provide a lot of benefits, the price of XCH still crashed and many miners have to sell SSDs and HDDs. On the other hand, we knew that there are monopolies by HPool and some big miners in Chia Network.

Therefore, we urgently need a more fair, timeproof and safe decentralized network ecosystem. As the best supplement of Chia Network, Silicoin came into being.

Silicoin combines a solution to the flaws of traditional mining, by forming a new and unique mining logic. It aims to truly balance PoW and PoS and meets the original intention of Bitcoin and Chia: to make mining with ordinary equipment happen and to have the blockchain truly decentralized. Simply understanding, Silicoin added the staking function based on the Chia network. Silicoin is an upgrade of Chia that have staking.

How does Silicoin work?

In the traditional process of producing blocks, the more plots miners have, the greater the probability that they will be selected to produce blocks. However, there is a big difference in Silicoin Network. In Silicoin consensus system, the Individual Difficulty of every miner could be lower by staking SIT. As we all know, the lower the difficulty coefficient, the greater the probability of being selected to produce the block. That is to say, the miners who stake SIT tokens are easier to win the blocks.

The improvements of Silicoin work

Compare to Chia network, the miners is going to buy or keep more SIT for staking so that their mining income will be higher if they want to obtain higher returns. Then the staking will stimulate the demand for SIT tokens and we can forecast the price and value of SIT will keep rising in a long term period. It solves the Chia’s embarrassment – Price of XCH keep dumping.

What’s more, the more plots Chia miners have, the greater the probability that they will be selected to produce blocks in the past. But in Silicoin network, the profit of the big miner who mines Silicoin without staking SIT is possible to be lower than the smaller miners who stake SIT more than the size of its plot. It helps to prevent the monopoly in mining and make a more miner-friendly environment for all Chia miners.

The future

In the Silicoin’s economic logic, it not only find the use case of its token – SIT, but also avoids the monopoly of giants and helps many miners increase their profits. In other words, Silicoin solves two big challenges of Chia and found a new way for mining industry.

The idea of Silicoin has the potential to reduce the egregious electricity costs that traditional protocols otherwise procure and makes SIT tokens integrate into its long-term ecosystem and form a complete economic circle. It is definitely far more attractive to miners than similar projects.

Link guide between BUT and USDT

From the perspective of opportunity analysis, there is no other outlet that is hotter than cryptocurrency. High-speed investment income and profit growth provide motivation for the influx of the blockchain market. The predictable return of funds provides investors with protection and enthusiasm. Soaring. The wind has come, and actively embracing the trend is better than passively participating in the wave. Speed and timing are very important.

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As we all know, the biggest advantage of USDT is that it can ensure that investors’ assets in the currency circle do not shrink with the market. It is equivalent to the same amount of U.S. dollars, 1USDT=1 U.S. dollar, making it a good choice in the volatile cryptocurrency market. Hedged tokens. BUT uses the USDT exchange channel as the entry point to establish an integrated digital economic ecology that is integrated with the existing blockchain ecosystem, and at the same time integrates digital asset management, transactions, financial services, cross-chain interaction, DApp distribution, etc. With multiple functions, BUT is also an application combination of DeFi+USDT.

In the future, BUT will continue to meet user requirements for various digital asset services. At the same time, it will integrate finance, transactions, new meta-universe ecology, chain games, public chain cold wallets, decentralized storage, data applications, and NFT art. The series of behaviors are aggregated in the landing application of BUT, standing on the highest point of the entire industry, creating a national blockchain application platform for all walks of life around the world, and achieving ecological prosperity under the support of the BUT payment underlying system!

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In addition, BUT’s revenue mechanism is also a key point for attracting users to hold coins. The total amount of BUT issuance is 1 billion. Every user can participate in the BUT whitelist through a decentralized wallet. BUT whitelist users can get BUT tokens every day according to the amount of USDT in the decentralized wallet. The total whitelist user income is 3 100 million BUT (the more you deposit, the more you earn); BUT whitelist users can also get BUT candies by sharing, and the total candies is 200 million BUT (the more you share, the more candies); new users participate for the first time , Contact BUT official to get 10 TRX.

It can be seen from the distribution mechanism of BUT tokens that whitelist participants and promoters only need to deposit USDT through their own decentralized wallets to obtain BUT tokens, and participants do not have any investment risk. Participants and promoters work with the BUT community to promote the consensus of BUT in the global blockchain industry, so as to achieve the market value of BUT tokens.

This kind of operation mechanism of BUT is risk-free, ultra-low threshold, and no bubbles. Every participant in the system can benefit from the dedication and indirectly promote the development of the entire ecology. The amount of USDT in the user’s wallet complements BUT, etc. Value exchange, together to form an endless loop, the recommendation reward and profit mechanism create unlimited value-added and create an infinite loop route.

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We also hope that with the new trend of BUT development, more members will join the BUT global community, look at the world with a new perspective, look at the blockchain, and jointly leverage the leverage of wealth!

FarmingHub has received angel investment from X Force Foundation

Chia can be said to be the most popular mining coin this year. It is a powerful, fair and green project and many geeks be its crazy fans. Then a market with a scale of nearly trillions has been formed.

With Chinese government ban the bitcoin mining industry, Chia be popular again recently because of its concept and excellent ecosystem. As the world’s leading Chia & Chia Forks information service center, FarmingHub is committed to becoming a hub and bridge between enterprises and users in the Chia & Chia Forks ecosystem, providing Chia fans around the world with the most complete and up-to-date ecological information and data. In the early of October, FarmingHub received an angel investment from the X Force Foundation.X FORCE Foundation is a professional investment institution focusing on blockchain infrastructure, DeFi, NFT, GameFi and mining. It has successfully invested in blockchain projects such as IPFS, Hopr, and participated in private equity such as Chia Network and Immutable.