Community Observation: 2019.08.20

Community Observation publishes insightful opinions and interesting thoughts collected from the SimpleChain community. If you have any thoughts/opinions about blockchain/crypto that you’d like to share, feel free to contact us through our Telegram group.

By 白糖可塔朵

As the price of SIPC stabilized at around 3.5, the rise of computing power on SimpleChain has slowed down.

However, the ratio of the three major mining pools has changed. There has been connection issues on Simpool, the official mining pool. Therefore, some of the computing power has moved to Matpool and DXpool, especially DXpool.

Some miners think that reason for the previous increase of computing power was that a lot of Litecoin miners started mining SIPC. In fact, if you look closely at the SimpleChain white paper, it mentioned an algorithm similiar to Scrypt. I also had a friend try to mine SIPC with L3+. It did NOT work. This once again proves that the USB mining machines are independently designed and taped out by the SimpleChain Foundation.

One more thing, I’ve noticed that the overall computing power on SimpleChain has far exceeded the computing power of all the USB mining machines sold online. My guess is that there are large offline purchases happening, and it wouldn’t be a small amount of machines sold this way instead of online packages.

Buying USB mining machines is like turing cash into SIPC futures. It shows confidence in SIPC. Buying mining machines ensures a steady income, but won’t influence the price on the secondary market so much as directly buying in SIPC. It’s actually a good long-term investment.

I personally invest in BTC cloud computing power every month. For me, the long-term incentive for this kind of value currency is much better than short-term opportunistic gains.

I hope that SIPC can also sell some cloud computing power to retail investors in the future. Although the plug-and-play USB mining machines are already very convenient, it can still be a hassle if one has too many.

About SimpleChain

SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to support a variety of applications and use cases on blockchain. Sub-chains also support sharding to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.

Built on Baoquan Chain, SimpleChain’s first sub-chain, Baoquan.com provides electronic data services including electronic evidence service, online evidence gathering service, and copyright protection platform. Based on the non-traceable and non-tamperable features of the blockchain, the advantages of Baoquan.com is that user data can be permanently stored on the blockchain, independent of corporations.

In June 2018, Hangzhou Internet Court of China judged a case of a dispute over information network communication rights. For the first time, the court confirmed the legal effect of the electronic data stored on Baoquan blockchain, and clarified review methods of electronic evidence on blockchain.

We have launched the mainnet beta version in January (see blockchain browser), and we will be launching mainnet official version 1.0 in Q3 this year. Also, our codes are open-sourced on Github.

Find SimpleChain at:

Website: https://www.simplechain.com
Twitter: https://twitter.com/SimpleChain
Medium: https://medium.com/SimpleChain
Facebook: https://www.facebook.com/SimpleChainOfficial
GitHub: https://github.com/simplechain-org
Telegram Group: https://t.me/SimpleChainEN