Author: James Nitro

Ethereum: Running a Bitcoin CPU Miner from the Command Line on Ubuntu for Slush’s Pool

As a beginner in the world of cryptocurrency mining, it is important to understand how to set up and run a Bitcoin CPU miner from the command line on your Ubuntu system. In this article, we will walk you through the process of installing and configuring Ethereum for Slush’s pool.

Why Ethereum?

Ethereum is an alternative blockchain platform that allows miners to validate transactions and create new blocks without having to use the underlying Bitcoin network. By running the Ethereum mining rig on your Ubuntu system, you can mine Ethereum using a command line approach. This setup provides a more efficient way of processing transactions than traditional Bitcoin mining methods.

Hardware Requirements

To run a command line miner on Ubuntu, you will need:

• Compatible CPU (Intel Core i5 or AMD equivalent)

• Sufficient RAM (at least 8GB)

• Reliable internet connection

• Bitcoin wallet software and Slush pool account

Software Installation

• Update your package list: Run the following command to make sure you have the latest packages installed:

“Exactly.”

Sudo apt update

“

• Install required software: You will need to install the following packages:

• “git” to interact with Ethereum blockchain data

• “build-essential” to compile and run the miner

• “git-bash” for the bash shell on your Ubuntu system

• Install Slush’s pool software: Download the latest version of the Download Slush pool software from the official website:

“Exactly.”

wget

“

Unzip the archive and run the following command to install the software:

“Exactly.”

tar -xvf ethpool-software-1.9.2.tar.gz && cd ethpool-software-1.9.2 && ./configure && make

“

Configure the Slush pool

• Create a new user for your miner: Run the following command to create a new user with permissions to run the miner:

“Exactly.”

sudo adduser miner

“

• Set up your Ethereum wallet: Connect your Bitcoin wallet to your Ubuntu system.

• Configure Slush Pool Settings

  :

In the root directory of your Ubuntu system, create a file called “pool.conf” with the following content:

“Exactly.”

[Ethpool]

User = miner

Password =

“

Replace “” with the password you specified for your Ethereum wallet.

Configure Miner

• Edit the miners.json file: Create a new file named miners.json in the same directory as the pool.conf file:

“Exactly.”

[ethminer]

Number of processors = 1

Min weight = 10

“

• Add your Ethereum wallet to the miner: Run the following command to add your Ethereum wallet to the miner configuration:

“Exactly.”

./miner –addwallet=

“

Replace “” with the path to your Bitcoin wallet file.

Start Miner

• Start Miner: Run the following command to start the miner in the background:

“Exactly.”

sudo ./miner &

“

Monitor and optimize performance

You can use tools like “mpstat” or “htop” to monitor your miner’s performance. You may also want to adjust “numCPUs”, “minDifficulty” and other configuration settings based on your system’s hardware capabilities.

To summarize, running the Command Line Ethereum CPU Miner on Ubuntu for the Slush pool provides a flexible and efficient way to mine Ethereum without breaking the bank. By following these steps, you can set up a reliable and scalable mining operation that meets your needs. Happy mining!

avoid crypto mixers

Ethereum: Why is it impossible to derive a private key from a public key?

The Ethereum public key equation, “K = k * G,” may seem like a simple formula for deriving a private key from a public key. However, this assumption is fundamentally flawed in the context of cryptography and blockchain technology.

Cryptocurrency and smart contract platforms, including Ethereum, use public and private keys to store and communicate sensitive information such as balances, transactions, and cryptographic secrets. The idea behind a public key infrastructure (PKI) like Ethereum is that a shared secret key, known as the private key (“k”), can be used to encrypt messages and decrypt them with the corresponding public key.

However, there are several reasons why it is not possible to derive a private key from an Ethereum public key:

• Key exchange protocol: The Ethereum public key equation “K = k * G” is used when exchanging keys between parties (e.g. when two users want to agree on a shared secret key). However, this equation assumes that both parties have access to the same generator point (“G”). This means that even if one party knows its private key (“k”), it cannot use it to encrypt and decrypt a message without access to the corresponding public key.

• Computational complexity:

  The mathematical operations required to derive a private key from a public key are expensive, making them impractical for large-scale applications. First, the multiplication “k * G” is an elliptic curve point doubling (ECDPA) algorithm with a time complexity of O(sqrt(n)), where n is the order of the generator (G). For most practical purposes, this means that even if one party knows its private key, it cannot easily derive it from the public key.

• Mathematical limitations: The mathematical representation of a point on an elliptic curve (ECC) can be viewed as a set of 2D coordinates, where each coordinate corresponds to the “x” and “y” components of the point. In the Ethereum implementation, points are represented using 4 bytes (32 bits), which is relatively small compared to other cryptographic protocols that use more advanced elliptic curve algorithms, such as NIST-validated curves (e.g., secp256k1 or ed25519). This limited representation size makes it difficult to accurately represent the complexity of a point in ECC.

• Ensured security: The Ethereum private key is often collateralized by a “nonce” value, which can be used to prevent replay attacks and ensure the integrity of transactions. Even if one party knows its private key, it cannot easily use it without knowing the corresponding nonce value.

In summary, while the public key equation “K = k * G” may seem like a simple formula for deriving a private key from a public key, it is fundamentally flawed due to computational complexity, mathematical limitations, and security considerations. Ethereum uses other protocols and mechanisms to securely store and exchange cryptographic secrets, such as the Elliptic Curve Digital Signature Algorithm (ECDSA) with HMAC-SHA256.

Recommendations:

• Use a more secure protocol for storing and exchanging keys, such as ECDSA with HMAC-SHA256.

• Consider using a zero-knowledge verification system, such as zk-SNARK or zk-TREX, to provide more efficient and secure cryptographic services.

• Always use secure practices such as password hashing and password rotation to protect user identities and sensitive information.

I hope this explanation helps!

ethereum corrupted database

Solana: Unable to Create Connected Token Account

As a user of the Solana blockchain, you have probably encountered issues related to creating associated token accounts and creating non-fungible tokens (NFTs). One such issue is when you try to create an associated token account but it fails to create. In this article, we will delve into the details of this issue and explore possible solutions.

Issue

Creating an associated token account is a crucial step in creating NFTs in Solana. Once you have created a token contract and configured an associated token account, you can use it to store and manage your digital assets. However, when you try to create a new associated token account, the process fails, often resulting in an error message stating that “Creating an associated token account failed”.

Issue

Basically, this issue is due to the way Solana associated token accounts work. When you create a token contract, it creates a public key that serves as the backend address for your associated token account. To create an NFT, you must use the same connected token account and create a new token ID (tID) for the associated token account.

However, when you try to create a new connected token account using the “solana-keygen” command line tool or the Solana SDK, it fails to create the associated token account for several reasons:

• Public key mismatch

  : The public keys generated during the initial creation of the token contract do not match the public key used to create the new associated token account.

• Token ID conflict: If you have already created multiple connected token accounts with different tIDs, attempting to create a new one will result in an error due to specifying a duplicate tID.

Workarounds and Solutions

While the official Solana documentation does not provide solutions to this issue, there are some possible workarounds:

• Regenerate Token Agreement: If you are using solana-keygen, you can regenerate the token to create new token accounts associated with it.

• Use a different public key generator: Some users have reported success using a different public key generator, such as `solana-keygen --seed '' instead of the defaultsolana-keygen''.

• Make sure you are using the latest version of thesolana-keygen` command line tool.

• Use a secure seed string when regenerating the token contract.

• Be careful when editing the code, as changes can have unintended consequences for your blockchain account.

We hope this article has given you an understanding of the issue and possible solutions for creating token accounts in Solana. However, we recommend that you consult the official documentation or contact the Solana community for further assistance if you are still experiencing issues.

Ethereum Long Block Take

Ethereum: Will the Bitcoin Core Full Node Be Too Large to Run on a Standard Computer?

As a Bitcoin enthusiast, you’re probably familiar with the ins and outs of how the Bitcoin network works. But when it comes to using the Ethereum blockchain and its associated tools like Bitcoin Core, you might not know what to expect in terms of computing space requirements. In this article, we’ll explore whether the size of an Ethereum full node will be too large to run on a standard computer.

What is a full node?

A full node, also known as a node or miner, is the central component that manages and verifies transactions on the Ethereum blockchain. It’s essentially an intermediary between users who want to send and receive Ether (the native cryptocurrency) and the Ethereum network itself. A full node requires significant computing power to process and verify transactions in real time.

Bitcoin Core: The Original Full Node

Bitcoin Core, the open-source Bitcoin client software, has been around since 2010. It is a compact, lightweight version of the Bitcoin protocol that allows users to download and run it on their computers. However, Bitcoin Core still requires significant computing resources to run due to its resource-intensive nature.

Ethereum: The Bigger Brother

Ethereum, on the other hand, is a more complex and powerful blockchain than Bitcoin. It is designed to scale horizontally, meaning it can handle increased traffic and usage without slowing down. Ethereum’s full node software, Ethereum Full Node (EFN), is also designed to be compact and efficient.

Will an Ethereum full node be too large for a typical computer?

The answer to this question depends on several factors:

• Computer hardware: The performance of a computer’s CPU, GPU, or RAM will greatly affect whether a full Ethereum node can run efficiently.

• Operating system: The choice of operating system (Windows, macOS, Linux) can also affect the overall performance and resources required by the full node software.

• Network congestion: As the number of users and transactions increases, network congestion will increase, which may require more computing power.

Current estimates and limitations

Estimates suggest that a single Ethereum full node requires approximately 1-2 TB (terabytes) of disk space to run efficiently. For comparison, Bitcoin Core requires approximately 20-40 GB of disk space.

While it is possible to use an older version of Bitcoin Core or a more compact alternative like MyEthereum, which is designed for low-power and energy-efficient computing, the full node software itself will require significant resources on most modern computers.

Optimizations and workarounds

To make Ethereum full nodes run efficiently on mainstream computers:

• Upgrade to a newer version: Consider upgrading to a newer version of Bitcoin Core or using a cryptocurrency client other than MyEthereum.

• Use cloud mining services

  

  : Cloud mining services can provide access to high-performance computing resources, reducing the need for personal hardware.

• Choose low-power computers: Opt for computers or laptops designed for low power consumption and energy efficiency.

• Monitor network performance: Regularly check network congestion and adjust settings as needed.

Conclusion

While Ethereum full nodes will require significant computing power to run effectively on regular computers, this is not necessarily a problem in the sense that you will have to spend hundreds of dollars or your entire house on it. With some optimization, cloud mining services, or low-power computing options, you can still run an Ethereum full node without having to pay.

As a Bitcoin enthusiast with experience running Bitcoin Core on your laptop, you may want to consider exploring alternative cryptocurrency clients that are more compact and power-efficient.

Ethereum Radeon Memory

Risks of Non-Compliance with Cryptocurrency Withdrawals

The rapid growth and adoption of cryptocurrencies has created a new space for financial transactions. With the rise of decentralized exchanges (DEXs), peer-to-peer trading, and blockchain-based systems, the ability to withdraw funds from cryptocurrencies has become increasingly convenient. However, this convenience comes with risks that can be detrimental to both individuals and institutions.

Non-compliance with regulatory requirements is one such risk that poses a significant threat to the stability of the cryptocurrency market. Regulators around the world are cracking down on unlicensed exchanges that violate anti-money laundering (AML) and know-your-customer (KYC) guidelines. Non-compliant exchanges can face severe penalties, including fines, imprisonment, or even forced closure.

What is AML and KYC?

Anti-money laundering (AML) refers to preventing the misuse of the financial system for illegal activities, such as money laundering. On the other hand, Know-Your-Customer (KYC) requires firms to verify the identity of their customers before allowing them access to their funds or transactions.

Risks of Non-Compliance

Non-compliance with AML and KYC regulations poses several risks to individuals and institutions:

• Fines and Sanctions: Fines for non-compliance can be significant, with some regulators imposing fines of up to $10 million or even $50 million.

• Reputational Damage: Exchanges that are not compliant can suffer reputational damage, which can lead to a loss of customer trust and business.

• Loss of Market Access: Exchanges that fail to comply with AML and KYC regulations risk losing access to the cryptocurrency market, making it difficult for them to trade or withdraw funds.

• Regulatory Action: Regulators can take swift action against non-compliant exchanges, leading to shutdowns or forced closures.

Examples of Non-Compliance

A few notable examples illustrate the risks of non-compliance in crypto:

• Bitfinex’s AML Non-Compliance: In 2017, Bitfinex was ordered by a US court to pay a $5 million fine for AML violations.

• Huobi’s Suspensions and Fines

  

  : Huobi, a South Korean cryptocurrency exchange, suspended its operations in 2020 after failing to comply with KYC guidelines.

• Gemini’s Suspension and Fines: Gemini, a US digital asset exchange, was ordered by the US Securities and Exchange Commission (SEC) to cease operations due to AML non-compliance.

Mitigate Non-Compliance Risks

To mitigate these risks, individuals and institutions must:

• Do due diligence: Conduct thorough research into regulatory requirements and compliance procedures before engaging in cryptocurrency transactions.

• Implement effective KYC and AML controls: Establish robust KYC and AML controls to verify customer identity and prevent illicit activity.

• Stay informed about regulatory changes: Stay informed about regulatory changes and updates as they may impact non-compliance risks.

• Diversify investments

  : Diversify investments to minimize exposure to a single cryptocurrency or exchange.

Conclusion

The risks of non-compliance in cryptocurrencies are real and far-reaching. As the market continues to evolve, it is essential that individuals and institutions remain vigilant and take proactive steps to mitigate these risks. By conducting thorough research, implementing effective KYC and AML controls, staying informed of regulatory changes, and diversifying investments, we can reduce the likelihood of non-compliance and ensure a safe and stable cryptocurrency market.

ETHEREUM LOOKING BYTECODE

“Insight into the Cryptocurrency Market: Understanding Cryptocurrencies, Stop Loss, and Testing Networks Like SPX 6900”

The world of cryptocurrencies has become increasingly popular in recent years, with many people investing their hard-earned money in digital currencies like Bitcoin, Ethereum, and others. However, the cryptocurrency market can be volatile, and investors often make mistakes that lead to significant losses. In this article, we will look at three key concepts in the cryptocurrency market: cryptocurrencies, stop losses, and testing networks like SPX 6900.

Cryptocurrencies

A cryptocurrency is a digital or virtual currency that uses cryptography for security and is decentralized, meaning it is not controlled by any government or institution. The most well-known cryptocurrency is Bitcoin (BTC), but others include Ethereum (ETH), Litecoin (LTC), and many others. Cryptocurrencies are created through a process called mining, where powerful computers solve complex mathematical problems to verify transactions and create new units of currency.

Stop Loss

A stop loss is an investment strategy used to limit the potential losses of a transaction. It is essentially a safety net that helps protect investors from significant losses if the market moves against them. Stop losses are typically set at a specific percentage point, such as 2% or 5%, below the current price of the asset. For example, if you buy 100 units of Bitcoin and it falls to $10,000, your stop loss would be $20,000. If the price continues to fall, you can close the trade at the lower stop loss price to limit your losses.

Testing Networks Like SPX 6900

SPX 6900 is a decentralized, open blockchain network designed for high-performance applications. It was created by a group of developers and has gained popularity in recent years due to its fast transaction processing speed and low fees. The SPX 6900 network enables the creation and execution of smart contracts, which are self-executing contracts whose contract terms are written directly into lines of code.

Testing networks like SPX 6900 serve several purposes. They provide a test environment for developers to build and test their applications on a real blockchain without the need for a live network. This helps reduce the risk associated with deploying smart contracts in production environments where bugs and other issues can be difficult to identify and fix.

SPX 6900 (SPX)

The SPX 6900 token is the native cryptocurrency of the SPX 6900 blockchain network. It is used for transaction fees, governance, and other purposes on the network. The SPX 6900 token has a total supply of 100 billion units and operates on a proof-of-stake (PoS) consensus algorithm.

The SPX 6900 network has made significant progress in recent months, with its smart contract platform and decentralized finance (DeFi) ecosystem growing rapidly. However, the market is highly volatile, and investors should be aware of the risks associated with investing in cryptocurrencies or DeFi projects.

Conclusion

Cryptocurrency, stop losses, and testnets like SPX 6900 are fundamental concepts to understand in the world of cryptocurrency investing. By understanding these fundamentals, investors can make more informed decisions about their portfolios and reduce the risks associated with investing in cryptocurrency markets. Remember, the cryptocurrency market is inherently volatile, and it is important to stay up-to-date with market trends and regulatory changes.

As we continue to explore the world of cryptocurrencies, it is crucial to prioritize education and caution when making investment decisions. Armed with the right knowledge and strategy, investors can confidently navigate the complex cryptocurrency market and achieve their financial goals.

Metamask Transaction Issues in Truffle and Ganache Suite

As a developer using Truffle and Ganache Suite to build Ethereum smart contracts, I am facing an issue with funds and incrementing the counter. In this article, we will dive deeper into the problem and explore possible solutions.

The Problem

When creating a new contract in Ganache or Remix, you need to call the setBalance function to set the initial balance of your account to the specified value. However, if you do not update the balance after making a transaction, the counter will not increment correctly.

Here is an example of what this might look like:

pragma solidity ^0.8.3;
contract Counter {
uint public counter = 0;
function setBalance() public {
require(msg.sender == address(this), "Only contract owner can call this function");
counter++;
balance = msg.value;
}
}

In the above example, we are incrementing the counter variable every time a transaction is made for setBalance. However, if you make another transaction without updating the balance first, the counter will not increment correctly.

Solution

To solve this problem, you need to call the setBalance function before making another transaction. One way to do this is by using a single function that updates both counter and balance.

pragma solidity ^0.8.3;
contract Counter {
uint public counter = 0;
function setBalance() public {
require(msg.sender == address(this), "Only contract owner can call this function");
counter++;
balance = msg.value;
}
}

To use the updated setBalance function, you need to call it before making another transaction:

pragma solidity ^0.8.3;
contract Counter {
uint public counter = 0;
function setBalance() public {
require(msg.sender == address(this), "Only the contract owner can call this function");
counter++;
balance = msg.value;
}
}

Additional solution

If you need to update counter and balance in a single transaction, you can use the following approach:

pragma solidity ^0.8.3;
contract Counter {
uint public counter = 0;
function setBalance() public {
require(msg.sender == address(this), "Only contract owner can call this function");
counter++;
balance = msg.value;
}
}

In this case, you need to update the counter variable before setting the new value to balance.

Conclusion

In conclusion, updating counter and balance in a single transaction is not possible using Solidity. One way to solve this problem is to call the setBalance function before making another transaction. Another approach is to use separate functions to update these variables.

Ethereum: A Comprehensive Overview of Different Cryptocurrencies and Their Unique Value-Added Features

The world of cryptocurrencies has exploded in recent years, with hundreds of innovative currencies competing for attention. Of these, Ethereum stands out as one of the pioneers and major players in the industry. With its unique value-adds, innovative implementations, and diverse use cases, Ethereum is a fascinating subject to explore. In this article, we will delve into the differences between different cryptocurrencies and highlight their innovations, highlighting a list of what makes Ethereum stand out.

What are cryptocurrencies?

Before we dive into the specific differences, it is important to understand what cryptocurrencies are. A cryptocurrency is a digital or virtual currency that uses encryption for security and is decentralized, meaning it is not controlled by any government or financial institution. Transactions are recorded on a public ledger called the blockchain.

Ethereum: The Oldest Major Currency

Ethereum (ETH) was launched in 2015 as the second largest cryptocurrency after Bitcoin. It was originally known as Ethereum Classic (ETC) and was forked in 2016 to become Ethereum (ETH). Today, ETH is one of the largest and most well-known cryptocurrencies.

Differences between Ethereums

• Smart Contracts: Ethereum’s smart contract functionality allows for the creation and execution of self-executing contracts, as well as the ability to automate various processes. This feature has revolutionized industries such as finance, gaming, and supply chain management.

• Decentralization: Ethereum is a decentralized platform, meaning there is no single point of control or ownership. The network is maintained by a community of developers and miners who contribute to its growth.

• Gas Fees: Ethereum’s gas fees are used to incentivize transactions on the blockchain. Lower gas fees make it more accessible to users, especially in low-income countries.

• Smart Wallets: Ethereum offers a range of smart wallets that allow users to securely store, send, and receive ETH.

Other Major Cryptocurrencies

• Bitcoin (BTC)

• Litecoin (LTC)

  

• Monero (XMR)

• Dash (DASH)

Unique Value Added: What Sets Each Crypto Apart?

While all cryptocurrencies have their unique added value, some stand out for their innovative implementations:

• Bitcoin (BTC):

• The First Cryptocurrency

• Limited Supply of 21 Million Coins

• Decentralized and Open Source Blockchain

• Litecoin (LTC)

• Fast Transaction Processing Speed

• Lower Gas Fees Compared to Bitcoin

• Designed as a Peer-to-Peer Cryptocurrency with Minimal Central Authority

• Monero (XMR)

• Private Key-Based Transactions to Ensure Anonymity

• Limited Supply of 63 Million Coins

• Advanced cryptography for secure and untraceable transactions

• Dash (DASH)

• Fast and secure payment processing

• Multi-path transaction mechanism for faster and private transactions

• Decentralized network without a central authority

Innovative implementations

• Stellar (XLM)

  : A decentralized open-source blockchain platform that enables fast and cheap cross-border payments.

• EOS: A decentralized operating system that offers a variety of applications for scalability, security, and user experience.

• Cardano (ADA): A proof-of-stake (PoS) blockchain that focuses on scalability, sustainability, and community engagement.

Conclusion

Ethereum is not just another cryptocurrency; it is a groundbreaking platform with unique value-added features in smart contracts, decentralization, and gas fees. With innovative implementations, diverse use cases, and widespread adoption, Ethereum has established itself as one of the most significant players in the world of cryptocurrencies.

ethereum confirmation work

Understanding the Role of AI in Cryptocurrency Transaction Monitoring

The rise of cryptocurrencies has revolutionized the way we think about financial transactions. As the use of digital currencies has increased, so has the need for robust and efficient transaction monitoring systems to prevent fraudulent activity. Artificial intelligence (AI) has become a key technology in this regard, helping to detect and prevent illegal transactions.

What is Cryptocurrency Transaction Monitoring?

Cryptocurrency transaction monitoring involves analyzing cryptocurrency transactions to identify suspicious patterns or anomalies that may indicate fraudulent activity. This process typically involves collecting data from various sources, such as blockchain networks, exchange platforms, and wallet providers. The goal is to identify and flag potential transactions that may be associated with illegal activities.

How ​​  AI is Used in Cryptocurrency Transaction Monitoring

AI has significantly improved the efficiency and accuracy of cryptocurrency transaction monitoring systems. Here are some ways AI can be used:

• Anomaly detection: Machine learning algorithms can analyze large amounts of transaction data to identify unusual patterns or anomalies that may indicate suspicious activity.

• Predictive modeling

  : AI-based predictive models can predict potential transactions based on historical data and trends, helping to prevent future illegal activity.

• Real-time monitoring: AI-based systems can continuously monitor transactions in real time, detecting and flagging potential threats as they occur.

• Network analytics: AI can analyze network traffic patterns to identify potential communications between malicious actors.

Benefits of AI in Cryptocurrency Transaction Monitoring

Using AI in cryptocurrency transaction monitoring offers several benefits, including:

• Increased accuracy: AI algorithms can accurately identify and flag suspicious transactions, reducing the risk of false positives.

• Increased efficiency: Automated systems can process large amounts of data faster than human analysts, increasing overall efficiency.

• Increased security: AI-based systems can detect potential threats before they are executed, providing an additional layer of security.

• Better decision-making: AI-based insights can inform decision-making, helping to prevent illegal activity and protect financial assets.

Challenges in Implementing AI-Based Transaction Monitoring Systems

While AI has made significant progress in monitoring cryptocurrency transactions, there are still challenges to overcome:

• Data Quality: Poor data quality can lead to inaccurate results, reducing the effectiveness of the system.

• Scalability: As the number of transactions increases, systems must be able to scale quickly and efficiently.

• Regulatory Compliance: Cryptocurrency transaction monitoring systems must comply with regulatory requirements, including anti-money laundering (AML) and knowledge of the customer (KYC).

• Interoperability: AI-based systems often require integration with existing infrastructure, ensuring seamless communication and data sharing.

Future Developments in AI-Based Transaction Monitoring

The future of AI-based cryptocurrency transaction monitoring brings with it many exciting changes:

• Increased Adoption: As the use of cryptocurrencies increases, the need for efficient and effective transaction monitoring systems will also increase.

• Improved Integration: AI-based systems will be integrated with emerging technologies such as blockchain analytics and quantum computers.

• Enhanced Security: AI-based security measures will continue to evolve, providing even stronger protection against malicious actors.

4.

Economic Indicators Mnemonic Phrase Multichain

Understanding the Default Ethereum Miner Implementation: Pay-to-Public-Key

Ethereum, a decentralized platform for building smart contracts and dApps (decentralized applications), relies on its native cryptocurrency, Ether (ETH). One of the key components that makes the Ethereum network possible is the Proof-of-Work (PoW) consensus algorithm. Under the hood, however, the default implementation of Ethereum miners uses a more efficient and secure protocol:
Pay-to-Public-Key (P2PK).

In this article, we’ll dive into why the Ethereum network uses P2PK for the mining process by default.

What is Proof-of-Work (PoW)?

PoW is a consensus algorithm that requires nodes on the Ethereum network to solve complex mathematical puzzles. The first node to solve these puzzles verifies transactions and adds them to the blockchain. We refer to this verification process as “mining.”

Why Pay-to-Public-Key?

The Ethereum team chose P2PK over other alternatives such as
Public-Key Cryptography (PKC) or
SHA-256-based Proof-of-Stake (PoS) for several reasons:

• Security: P2PK is considered more secure than traditional public-key cryptography because it does not require nodes to store large numbers of private keys. This reduces the risk of key compromise and makes it more difficult for an attacker to use brute-force attacks to guess the private key.

• Scalability: While PKC-based protocols such as SHA-256 have shown promise, they are less scalable than PoS due to the computational power required to calculate the hash.

• Energy Efficiency: P2PK is a more energy-efficient consensus algorithm because it requires nodes to spend their own coins to validate transactions, rather than relying on external mining pools.

Version 0.9.3 Source: A Look at Miner.cpp

To get an overview of the default implementation of Ethereum miners, let’s examine the miner.cpp file from the v0.9.3 source code repository.

// CreateNewBlockWithKey function
CBlockTemplate* CreateNewBlockWithKey(CReserveKey& Reservekey)
{
CPubKey pubkey;
if (!reservekey.GetReservedKey(pubkey))
return NULL;
// ... (rest of the code remains the same)
// Initialize the block template with the new P2PK hash function
m_p2pHmac = CreateP2pHMAC();
}

The `CreateNewBlockWithKeyfunction initializes an instance ofCBlockTemplatethat represents a new block in the Ethereum chain. This function calls another function,CreateP2pHMAC(), to create a hash function based on P2PK.

In conclusion, the default implementation of Ethereum miners uses
Pay-to-Public-Key (P2PK) due to its security, scalability, and energy efficiency advantages over traditional public-key cryptography. Theminer.cpp` file provides insight into how this implementation works and why it has become a standard part of the Ethereum network.

Additional Resources

For more information on Ethereum consensus algorithms and their implementations:

• [Ethereum 1.0 Specification](

• [Ethereum Mining Guide](

Note: The code provided is subject to change and may not reflect the current state of the Ethereum blockchain.