Join Our Mailing List
Wednesday February 01, 2023
Bitcoin (BTC) $23,746.36   Ethereum (ETH) $1,642.45
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Gaming & Betting

DICE Token Scraping Explained

Published by CryptoNinjas.net
07/02/2018
DICE Token Scraping Explained

DICE has the capacity of being a simple digital replacement of real money. Apart from this quality, DICE shines in the areas of fundraising and investment. When you talk of fundraising and investment, one word that readily comes to mind is ‘Crowdfunding.’ You do crowdfunding with real and tangible money where people connect and raise funds for a specific cause.

The correct term to use in DICE terminology is ‘Crowdmining.’ It is a new term and is very much similar to Crowdfunding. In Crowdmining, you raise funds by mining DICE tokens associated with a specific operator in a cluster.

DICE Token Scraping – The Concept

determining employs two external parameters, ‘global complexity’ and ‘local complexity.’ To understand the concept of scraping, you should have an idea about these two external parameters and their significance.

Global complexity is a single unique number that globally defines the difficulty of mining a unit with value 1 DICE. Remember, a DICE unit is a complete data block that can have only 21 values (20/1024, 21/1024 ……219/1024, 220/1024).

Local complexity is a number that can vary within a small range from the global complexity. Each operator chooses their local complexity. It defines the minimum value of a valid unit associated with the particular operator.

Scraping – The Technique

The local complexity is the critical element of scraping. In fact, the difference between the global minimum and the local complexity number is the clinching factor. This example will set things right.

Assume the global complexity of mining one unit of value 1 DICE is 40. The rules say that local complexity can spread within a small range of 10 lower up to a maximum of 10 higher than the global complexity. Any value outside this range will not produce valid DICE units.

Now, we have said that the operator determines the local complexity number. Assume he chooses a number 33 (3 above the global absolute that is always 10 less than the global complexity).

The operator at level 33 will not validate newly mined units with complexity 30, 31, and 32. Of course, they are valid units but are less than the bar set by the operator. Hence, the miners cannot claim these new units from the operator.

Does it entail that you lose these DICE units? No, they have a global validity and are in fact the value that the miner raises for the operator. Other DICE units with complexity 33 and above will get successful validation from the operator and be in the possession of the miner.

Scraping involves allowing the operator to ‘scape’ the units that do not pass the pre-set minimum. However, they have a global validity with the miner getting the rest of the units.

Now, you can ask the question as to why should the miner mine the units for the operator with minimum complexity more significant than the global minimum. There are many reasons for the same.

  • The miner might have received various preferential options while dealing with a specific operator.
  • Brand loyalty is also a valid reason for the same
  • Some miners do it for speculative purposes as well.

What will happen if the operator sets the local complexity at the global minimum? In case the operator does so, there would be no scope for scraping at all.

To find out more, visit dice.money also read the white paper.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered...

Read more

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages...

Read more

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto...

Read more

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
6 Best Cloud Mining Platform In 2022

6 Best Cloud Mining Platform In 2022

11/20/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy