Mining Blog & Mining News

Mining Blog & Mining News

Compound's COMP Becomes Most Valuable DeFi Token, but There's a 'But'

Just days after it first entered into circulation, decentralized lending and savings platform Compound’s new token COMP has positioned itself as the most valuable token in the decentralized finance (DeFi) space. But it's high valuation may not show the complete picture, as more then 7 million coins are yet to enter circulation, says an industry insider. As of press time on Wednesday (10:29 UTC), COMP traded for 0.31 ETH, or USD 72.58 on the decentralized token trading platform Uniswap. Acco...
Compound's COMP Becomes Most Valuable DeFi Token, but There's a 'But'

South Korea Announces USD 680M ‘Digital New Deal’ + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Blockchain news The South Korean government has announced a USD 680 million spending plan on a post-COVID 19 “Digital New Deal,” which includes blockchain-related spending pledges. Per the Chinji Ilbo, over USD 20 million of the funds will be used to train blockchain and AI experts.The China Guangfa Bank's blockchain-powered c...
South Korea Announces USD 680M ‘Digital New Deal’ + More News

Bitcoin Mining Difficulty Just Made the Highest Jump in Two Years

The pre-adjustment predictions last week seem to have underestimated this Bitcoin (BTC) mining difficulty adjustment, as it went higher than expected. The third Bitcoin mining difficulty adjustment after the halving saw this measure of how hard it is to compete for mining rewards increase by 14.95% to more than 15.78 T today. This is bringing it closer again to the 16 T level, reached only twice, pre-halving: in March and May this year. Last time difficulty jumped more was in January of 2018, w...
Bitcoin Mining Difficulty Just Made the Highest Jump in Two Years

Bitcoin Defenders Debunk Six Arguments Against BTC

Not surprisingly, the latest newsletter by Bloomberg editor Joe Weisenthal sparked a vivid discussion in the Cryptoverse, with community members coming to bitcoin (BTC)'s defense in droves. In the piece, Weisenthal outlined six reasons for what he sees at bitcoin’s lackluster performance this year: The argument that economic crises are good for BTC has been taken away by recent market action.Bitcoin has proved not to be a good portfolio diversifier given its increasing correlation with the ...
Bitcoin Defenders Debunk Six Arguments Against BTC

Miners Lower Bitcoin Supply, Start Hoarding More

Bitcoin (BTC) miners have started to hodl more of the newly generated BTC at the time when BTC is still failing to breach the psychologically important level of USD 10,000 per coin and when BTC mining set to become even more difficult. While in the past 12 weeks miners still sold more BTC than they produced, this trend has changed in the past few weeks. In the past week, they kept BTC 1,329 (09:03 UTC), after mining BTC 7,150 and selling BTC 5,821, data from ByteTree shows. At the same time, th...
Miners Lower Bitcoin Supply, Start Hoarding More

BTC Transaction Fees Drop to Pre-Halving Level

After a peak in transaction fees on the Bitcoin (BTC) network was seen less than a month ago, the fee paid to miners for processing transactions is now back at levels seen in April, a time well before the third halving in May. On Sunday, June 14, the median BTC transaction fee was USD 0.205, or 95% less than on May 20. Accordingly, yesterday, miners collected USD 154,000 in fees, compared with almost USD 1.9 million on May 20. However, their revenues about to experience another hit as mining di...
BTC Transaction Fees Drop to Pre-Halving Level

3 Ways Blockchain Could Help Fight The Climate Crisis

The world has failed to halt global warming. Four years after the signing of the Paris Agreement, most experts predict global warming will exceed the agreed thresholds, with disastrous consequences. As much as the world faces a climate crisis, it also faces a climate governance crisis: we know what must be done to halt climate change but we do not know yet how to get there. New mechanisms are evidently needed. Blockchain is one technology that has the potential to boost global cooperation for cl...
3 Ways Blockchain Could Help Fight The Climate Crisis

Bitcoin Halving and Competitors Boost Pressure on Bitmain & Canaan

The Bitcoin (BTC) mining hardware sector is opening up. New hardware manufacturers are entering the market with innovative new mining units, reducing the former dominance of major players such as Bitmain and Canaan. And with the Bitcoin halving in May putting an extra squeeze on the profit margins of miners, hardware manufacturers are being increasingly forced to introduce more efficient units, raising competition within the sector even further. In the process, newer mining hardware companies li...
Bitcoin Halving and Competitors Boost Pressure on Bitmain & Canaan

Real ETH Giveaways, Blackmaily ETH Fees, and 20 Crypto Jokes

This weak, we started a very REAL ETH giveaway. Speaking of ETH, two all-time high ETH transaction fees were paid, becoming more mysterious and blackmaily with the third. Meanwhile, Steve Hanke explained why private currency boards are better than central banks for a free society. While Maker soars, EOS developer Block.one prepares Voice for a July launch, and Tron 4.0 upgrade is announced for July. Optional Zcash and Dash features prompted debate on privacy and compliance, Kraken found increase...
Real ETH Giveaways, Blackmaily ETH Fees, and 20 Crypto Jokes

Bitcoiners Ask: ‘WTF Happened In 1971?’ The Answer Might Shape The 2020s

In 1971, the United States left the gold standard. Now, some people – particularly Bitcoiners – believe that the US and wider global population has largely suffered as a result. The government can print USD at will, in the process causing the kind of inflation that reduces the general population’s savings. However, while certain developments since 1971 – the productivity-pay gap and the growth in public debt – might suggest that leaving the gold standard was a bad idea, most mainstream economist...
Bitcoiners Ask: ‘WTF Happened In 1971?’ The Answer Might Shape The 2020s

Belarusian Banks to Issue Digital Tokens in Central Bank Pilot

Belarus’ central bank will allow 12 commercial and state-owned banks to launch tokens and conduct business using their digital offerings in an ambitious new pilot. The central National Bank’s plans, per Sputnik Belarus, will involve a pilot that will run from January 1, 2021, to January 1, 2024 – after which the initiative may be extended further or legalized for wider use within the country. Participating banks include the joint-stock company Belarusian-Swiss Bank, as well as Belarusbank – the ...
Belarusian Banks to Issue Digital Tokens in Central Bank Pilot

Petro for Petrol, Karpeles' Guilt, Cotten's Ponzi, Frozen Bitmain + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news The Venezuelan government says that 15% of fuel payments at petrol stations were made in petro (PTR) in the first week of the government’s new plan to promote its state-issued, oil-backed token. Per Ultimas Noticias, that figure was 40% at gas stations operated by international companies, and citizens used bio...
Petro for Petrol, Karpeles' Guilt, Cotten's Ponzi, Frozen Bitmain + More News

Bitcoin Mining Difficulty Set for Highest Jump in Nine Months

If everything goes as estimated, miners are about to experience the rise in Bitcoin (BTC) mining difficulty not seen since September last year, as more mining machines are back to work, increasing security of the network. The next Bitcoin mining difficulty adjustment is expected to happen in around four days, when this measure that shows how hard it is to compete for mining rewards is estimated to rise 9.95%, according to major Bitcoin mining pool BTC.com (15:50 UTC). The last time the difficu...
Bitcoin Mining Difficulty Set for Highest Jump in Nine Months

Ethereum Transaction Fee Mystery Just Got More Mysterious

Yet another abnormal ether transaction occurred on the Ethereum (ETH) blockchain for the third time. Now, someone transferred ETH 3,221 (USD 762,990) with a somewhat lower transaction fee of ETH 2,310 (USD 544,028). The transaction occurred on the block 10247265, on June 11, 12:14 PM UTC time. Similar transactions with abnormally high fees (more than USD 2.5 million each) also happened yesterday (June 11th) and the day before yesterday (June 10th). This time, the transaction was not sent from th...
Ethereum Transaction Fee Mystery Just Got More Mysterious

Non-Monetary Bitcoin Use Cases: Virtual Power Plants & Digital Identities

Bitcoin (BTC) is proving to be not only a monetary technology, as entrepreneurs find new applications in an increasing number of areas. This week, Brandon Arvanaghi, Layer1 Technologies Chief Security Officer (CSO), explained how Bitcoin is used to stabilize electrical grids that heavily rely on renewable energy sources, while Microsoft went live with a beta version of ION, Bitcoin-based decentralized identity tool. Layer1 is a major US-based Bitcoin mining and energy infrastructure firm that bu...
Non-Monetary Bitcoin Use Cases: Virtual Power Plants & Digital Identities

Estonian Crypto Purge; BitPay Card; Three Arrows Hit Grayscale + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news Estonian regulators worried that crypto-related firms are using their local credentials to help commit fraud elsewhere have stripped more than 500 — around a third of total — of their permits this year, Bloomberg reported. More than a half of the remaining 900 crypto companies may lose their licenses as they have n...
Estonian Crypto Purge; BitPay Card; Three Arrows Hit Grayscale + More News

Miny.cc’s Whitelisting Exercise Oversubscribes by 250%

Disclaimer: The text below is a press release that was not written by Cryptonews.com. A cryptocurrency wallet platform based in Hong concluded a round of whitelisting for various solutions targeting cryptocurrency enthusiasts. The exercise that was oversubscribed by almost 250% paves the way Miny.cc to start offering its joined pool mining solutions. It will not be the first time the cryptocurrency space has seen recruitment conducted through whitelisting. During the epitome of the ICO craze in ...
Miny.cc’s Whitelisting Exercise Oversubscribes by 250%

Another USD 2.6M Paid in Ethereum Fees - Many Doubt it's a Mistake

Another USD 2.6 million in fees was paid for a different Ethereum (ETH) transaction, and people are doubting that this is a mistake as previously thought. The Cryptoverse was surprised by yet another small value sent with a dizzying fee within 24 hours. Compared to yesterday's ETH 0.55 sent (USD 135.78 at the time), ETH 350 (USD 86,404) was sent on Thursday morning (UTC time), paying the same fee as yesterday - worth USD 2.64 million. The sending address is the same, but the receiver is dif...
Another USD 2.6M Paid in Ethereum Fees - Many Doubt it's a Mistake

Brave Apologizes, Crypto Scammers Get Smarter + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Privacy news Blockchain-based decentralized browser Brave (BAT) has issued an apology for the error made when adding affiliate codes to suggest alternative completions shown in the drop-down under the address bar. Per their blog post, Brave did not intend the wrong default, but it doesn't compromise user privacy, nor reveal an...
Brave Apologizes, Crypto Scammers Get Smarter + More News

Un-10K-ed Bitcoin, Made History, and 20 Crypto Jokes

This crypto-week, bitcoin surpassed USD 10K, then it didn't, and the eight largest difficulty drop happened, and as bitcoin demand is already outpacing supply, BTC got a red dot on the S2F model signalling a bull run. Decentraland’s virtual world made history by streaming the SpaceX launch, allegedly Western Union is interested in purchasing MoneyGram, Atomic Loans will launch lending this summer, and Blockdaemon CEO told us that payment-centric projects bring blockchain to people. While Coi...
Un-10K-ed Bitcoin, Made History, and 20 Crypto Jokes

How Blockchain Will Help Send People Into Space

Blockchain is entering the space industry. Its decentralization is primed to help private and public space organizations alike operate and pursue their goals. From blockchain-based supply chains to the tokenization of space assets and resources, figures across the industry affirm that blockchain will provide an infrastructure that will make the space industry more efficient and productive. Blockchain in space: satellites and supply chains According to Andrew James Murrell, the Head of Future Te...
How Blockchain Will Help Send People Into Space

Russian Companies Upbeat about Metals, Oil & Gas Tokenization Chances

Russian companies remain optimistic about their plans to tokenize the mining and extraction of oil, gas and other natural resources, including precious metals – despite lingering concerns about legislation and regulatory hurdles. As previously reported, Russia may be sliding toward a crypto crackdown – with a new draft bill proposing to force crypto ventures out of the country. Kolya, who asked Cryptonews.com not to reveal his surname, works at a major oil Russian exporting enterprise with inter...
Russian Companies Upbeat about Metals, Oil & Gas Tokenization Chances

OKEx to Double Staff, Bitfinex Untethers Allegations + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news OKEx said they plan to open new offices in unspecified regions and they have already started recruiting "blockchain professionals" as the major exchange aims to double the number of their employees in two years. The company also launched a Beacon Program in the European regions to support those who are interested in...
OKEx to Double Staff, Bitfinex Untethers Allegations + More News

Bitcoin Mining Difficulty Sees its 8th Biggest Drop in History

After the second post-halving difficulty adjustment, mining Bitcoin (BTC) has just got easier again, helping miners improve their profit margins. Bitcoin mining difficulty, a measure showing how hard it is to compete for mining rewards, has dropped 9.29% today. This is its second drop in a row, following the 6% one in the second half of May - both occurring after the third Bitcoin halving. Per the major Bitcoin mining pool BTC.com, today's is the 8th largest difficulty drop ever for BTC. Th...
Bitcoin Mining Difficulty Sees its 8th Biggest Drop in History

Relief to Bitcoin Miners as Double-digit Difficulty Adjustment In Sight

With the second post-halving bitcoin (BTC) mining difficulty adjustment set to occur shortly, miners might once again breathe a sigh of relief after the previous such event also made life easier for players in the highly competitive industry. This time, difficulty, a measure showing how hard it is to compete for mining rewards, might drop almost two times more than two weeks ago, when it decreased by 6%. Tomorrow, it might drop by more than 11%, to 13.45 T, or lower than the level seen at the b...
Relief to Bitcoin Miners as Double-digit Difficulty Adjustment In Sight

Bitcoin Upgrade, Pu’er on Blockchain, Underground Miners + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news Bitcoin Core version 0.20.0 has been released and is now ready for launch. Per the release notes, it includes new features, various bug fixes, performance improvements, and updated translations. Among a number of listed notable changes, BIP61 reject network message has been removed from Bitcoin Core, as were OpenSSL a...
Bitcoin Upgrade, Pu’er on Blockchain, Underground Miners + More News

Bitcoin Demand Already Outpacing Supply - CoinShares' Demirors

Bitcoin (BTC) demand is already outpacing supply, sending another bullish sign to the market, according to Meltem Demirors, Chief Strategy Officer at the crypto asset management firm CoinShares. “We’ve seen a tremendous number of inflows into bitcoin over the last two months alone. One interesting fact is that over the last two months, the demand for bitcoin has outpaced its supply,” Demirors said during an interview on Bloomberg Radio yesterday. “[…] in the last two months alone, the amount of...
Bitcoin Demand Already Outpacing Supply - CoinShares' Demirors

5 Ways to Reduce Risks for Customers in Case Bitcoin Exchange Fails

Amending laws to accommodate the nature of cryptoassets, tracing on-chain transactions, and prohibiting the re-use of deposited bitcoin (BTC) are some of the ways to reduce risks in case a custodian sinks, according to researchers from the Netherlands' Leiden University. Their recent paper looks into depositing cryptoasset with crypto custodians like centralized exchanges, and specifically the legal risks when these custodians become insolvent. It provides certain recommendations on how reg...
5 Ways to Reduce Risks for Customers in Case Bitcoin Exchange Fails

Ethereum's Layers, Mining moves, Swiss Bitcoin Banking + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Blockchain news Ethereum (ETH) co-founder Vitalik Buterin said that the initial deployment of Ethereum's layer 2 scaling strategy has "basically" succeeded, and what now remains to be done are refinement and deployment. He added that this is an adoption challenge, not a technical challenge, as users need to have plasma- or rol...
Ethereum's Layers, Mining moves, Swiss Bitcoin Banking + More News

Russia Sending Mixed Signals: Is China-style Bitcoin Crackdown In Works?

Last week, a leading Russian parliamentarian claimed that Duma financial policymakers were not behind any calls for a ban of cryptocurrencies, such as Bitcoin (BTC). This week starts with worrying news as legal experts and crypto industry leaders have taken aim at a draft bill set to be put before Russian parliamentarians with some warning that it could spell the end for the country’s cryptocurrency industry. The draft bill for the long-awaited “On Digital Assets” bill has finally been published...
Russia Sending Mixed Signals: Is China-style Bitcoin Crackdown In Works?
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