Komodo to Bitcoin Cash atomic swap performed

New technology was used to purchase Bitcoin Cash for Komodo at BarterDEX platform
18 December 2017   2665

Atomic swap technology was used successfully again, now with Komodo and Bitcoin Cash. 

During the atomic swap, the buyer used Komodo to purchase Bitcoin Cash. The deal took place on the BarterDEX platform and ended quite quickly. It is expected that BarterDEX and Komodo will play a significant role in the study and development of swaps.

Komodo is a digital asset that aims for privacy-centric ideals and hopes to provide more fungible blockchain transactions. The cryptocurrency uses a consensus mechanism called Delayed Proof-of-Work (dPoW) which is similar to bitcoin’s PoW, but also uses a block notarization method.

KMD to BCH Atomic Swap Report
KMD to BCH Atomic Swap Report

Users note that this kind of exchange between crypto-currencies is attractive enough. An important factor is the lack of verification necessary for exchange on centralized exchanges. The fact is that atomic swaps are conducted exclusively on decentralized exchangers.

Now it is not known how the swap will affect the overall Bitcoin Cash ecosystem. Some suggest that this crypto currency can become a permanent participant in atomic swaps, which, against the backdrop of BarterDex's plans to refuse support for Bitcoin, looks quite interesting assumption.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   97

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.