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Mining Firm Titan Introduces Lumerin, a Project Aiming to Commodify Bitcoin’s Hashpower

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On October 21, the bitcoin mining pool operator Titan revealed a new decentralized hashpower routing protocol called Lumerin. The open-source project aims to commodify bitcoin’s hashpower “through smart contracts, making hashpower tradable.”

Bloq’s Mining Arm Titan Announces the Lumerin Protocol

The bitcoin mining operation Titan, a subsidiary of the company Bloq Inc., has announced its decentralized hashpower routing protocol, “Lumerin.” Titan says that bitcoin mining companies “tend to be concentrated in regions that offer cheap electricity, favorable regulation, and stable infrastructure” and it aims to solve centralization via software. The idea is to commodify bitcoin’s processing power and security by leveraging smart contracts.

“The Lumerin Protocol will allow companies and individuals to buy, sell, and deliver hashpower, achieving decentralization through open market dynamics,” Titan’s announcement details. “Furthermore, by making hashpower a transferrable digital commodity, the Lumerin Protocol will provide a foundation for hashpower financialization as well as lending, custody, OTC, and trading services.”

Titan Is Looking for Strategic Partners, Announcement Mentions ‘Other Proof-of-Work Hashpower Products’

Titan was co-founded by the company’s CEO Ryan Condron, former Bitcoin core developer Jeff Garzik, and the founding partner of Tally Capital, Matthew Roszak. Condron says that Titan is a significant development in the bitcoin mining space and it aims to partner with industry leaders as well.

“The new Lumerin brand and clear solution set definitions will support us in providing leading-edge advances that support the Bitcoin mining ecosystem. Titan is providing significant development effort and time to the Lumerin open source project and is actively looking for strategic partners to join us in developing this technology further,” Condron remarked.

While Titan’s other operations will retain the Titan brand, the newly introduced Lumerin open source project will have different software solutions. The announcement details that the project will establish a Lumerin Proxy Node, Lumerin Token, and Lumerin Wallet.

“As a result of these changes, we can now move forward with our vision to create a trustless peer-to-peer global marketplace for bitcoin mining and other proof-of-work hashpower products,” Condron said in a statement. “This will allow anyone to harness the power of crypto through bitcoin mining in a decentralized way,” the Titan CEO added.

What do you think about Titan aiming to commodify bitcoin’s hashpower via smart contracts? Let us know what you think about this subject in the comments section below.

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SHA-256 doesn’t follow a uniform distribution? [closed]

I have been playing with SHA-2-256 in Julia and I noticed that the hashes produced don’t appear to follow a uniform distribution. My understanding of secure hashing algorithms is that they should approximate a uniform distribution well, so they are not predictable. Here is the Julia code I’m using: using BitIntegers, Distributions, HypothesisTests, Random, SHA::Listen

I have been playing with SHA-2-256 in Julia and I noticed that the hashes produced don’t appear to follow a uniform distribution. My understanding of secure hashing algorithms is that they should approximate a uniform distribution well, so they are not predictable.

Here is the Julia code I’m using:

using BitIntegers, Distributions, HypothesisTests, Random, SHA

function sha256_rounds()
    rounds::Array{Array{UInt8,1}} = Array{Array{UInt8,1}}(undef, 10000) # 10000 Samples
    hash::Array{UInt8} = Array{UInt8}(undef, 64) # 64-byte array

    for i = 1:10000
        hash = sha2_256(string(rand(UInt64), base = 16)) # Random number, convert to hex string, then seed
        rounds[i] = hash
    end

    return rounds
end

sha256_str_vals = [join([string(x, base = 16) for x in y]) for y in sha256_rounds()] # Stitch the bytes together into strings
sha256_num_vals_control = [parse(UInt256, x, base = 16) for x in sha256_str_vals] # Get the numerical value from the strings

OneSampleADTest(sha256_num_vals, Uniform()) # One sample Anderson-Darling test

And the result of the test:

One sample Anderson-Darling test
--------------------------------
Population details:
    parameter of interest:   not implemented yet
    value under h_0:         NaN
    point estimate:          NaN

Test summary:
    outcome with 95% confidence: reject h_0
    one-sided p-value:           <1e-7

Details:
    number of observations:   10000
    sample mean:              8.73991847621225e75
    sample SD:                2.2742656031884893e76
    A² statistic:             Inf

To me this says that the produced hashes do not conform to a uniform distribution. Am I using the test incorrectly, or is my sample faulty? Thank you for your thoughts.

Mining Firm Titan Introduces Lumerin, a Project Aiming to Commodify Bitcoin’s Hashpower

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