Mining Blog & Mining News

Blog • 03 September 2020, Thursday, 12:00

Yearn.finance's yETH Vault Getting Filled With Ethereum

The yETH vault from yearn.finance (YFI), a vault for yield farming with ethereum (ETH), was launched a day ago, and it's growth could hardly go unnoticed. The Cryptoverse is today focused on the yETH vault, and particularly its overnight growth. People were commenting on it holding ETH 215,000, or "0.2% of all ETH in 1 day" just several hours ago. Now (13:32 UTC), looking into the vault, we find the balance of ETH 345,129, with the value of nearly USD 142m. Per etherscan.io too, wrapped ET...

Blog • 03 September 2020, Thursday, 10:00

Trezor Fixes New Vulnerability, KeepKey Working On It; New Malware Targets Wallets

Swiss hardware wallet provider Shift Crypto said it has disclosed a vulnerability in the Trezor and KeepKey hardware wallets that could allow for potential ransom attacks – while a potentially nasty new malware strain is threatening to cause widespread wallet theft if left unchecked. The vulnerability can potentially be exploited when users enter passphrases on their devices. And researchers at cybersecurity firm ESET have discovered a previously undocumented trojan malware family which spreads ...

Blog • 03 September 2020, Thursday, 08:00

Bitcoin Miners Sold 63% More Coins Than Generated In a Day

With yesterday’s correction in ethereum (ETH) and many DeFi tokens also spilling over into bitcoin (BTC), bitcoin miners sold BTC 844 (USD 9.5m) in a day, or 63% more coins than they generated in the same period of time. Also, according to data from ByteTree, miners have continued to offload more bitcoin than they have mined this week, with a net outflow of BTC 812 recorded for the past 7 days. The level of weekly outflows from miners follows roughly in line with figures from last week, although...

Blog • 02 September 2020, Wednesday, 14:00

Ethereum Might Face Supply Squeeze - Researcher

With the roll-out of staking on Ethereum (ETH), as well as DeFi protocols like yearn.finance (YFI) introducing ETH vaults, the market for the second-most valuable cryptoasset may be about to get significantly tighter, US-based crypto research firm Delphi Digital has warned. The case for what appears to be a perfect storm for the price of ETH was laid out by Alex Gedevani, a researcher at the firm, in a report published yesterday. He noted that “ETH leveraged in DeFi has surged to $6.3 million,” ...

Blog • 02 September 2020, Wednesday, 08:00

Prompted by Booming DeFi, a Bridge Between Bitoin and Ethereum is Growing

Following a recent massive rise of decentralized finance (DeFi) projects - and because of it - some analysts expect wrapped bitcoin to continue being a growing bridge over which bitcoin (BTC) would be ported to Ethereum (ETH). Crypto market data provider Messari noted a stablecoin migration to Ethereum "en masse, making fiat value interoperable with ETH based applications." To this, they added: "Now, drawn by the allure of Ethereum’s booming DeFi ecosystem, we’re beginning to see a similar tren...

Blog • 02 September 2020, Wednesday, 06:00

Tron Wins the Daily Market as JustSwap Shows Arguable Volume Change

Tron network's native coin TRX is continuing its rally, reaching the coveted spot of the top daily performer among the top 40, as well as the top weekly performer among the first 20 coins by market capitalization. This comes as Tron's founder Justin Sun pointed to the rising rank of the recently-launched decentralized and Tron-powered token swap protocol JustSwap, as well as its rising daily trading volume - an increase with a discrepancy in numbers, and which some find questionable. Th...

Blog • 01 September 2020, Tuesday, 12:00

After Bashing Yield Farming, Buterin Offers a 'Billion Dollar' DeFi Idea

After criticizing yield farming once again and looking for a “least favorite DeFi project”, Ethereum (ETH) Co-founder Vitalik Buterin revealed his own vision for a new decentralized finance (DeFi) project. This time, it’s about forking Maker (MKR). “All I want for [DeFi] is for someone to fork Maker, rip out the governance and replace it with automated interest rate targeting, rip out the [Dai Savings Rate] and have the token itself just target ‘index * (1 + interest_rate)**time,’ and generalize...

Blog • 01 September 2020, Tuesday, 10:00

Bermuda and Stablehouse Join Forces To Launch New Stablecoin

The government of Bermuda has teamed up with stablecoin platform Stablehouse to launch a test pilot program for a stablecoin, which the territory calls a digital stimulus token, allowing purchases of food and other essential products, as well as services from participating merchants and retailers. Local authorities hope the initiative could help remove some of the challenges and costs associated with local payment options. The offered token is based on Blockstream’s Liquid blockchain protocol, m...

Blog • 01 September 2020, Tuesday, 06:00

Tron Soars as Genesis Mining of New SUN Tokens is Confirmed

As Justin Sun’s plan of driving more decentralized finance (DeFi) projects to the Tron blockchain moves one step forward, Tron’s native token TRX stands out as one of today’s top performers in the crypto market. As of 9:00 UTC today, TRX was up by nearly 14.5% over the past 24 hours, trading at USD 0.0298. The gains made the coin the second-best performer among the top 20 cryptoassets by market capitalization, closely following the recently hot Polkadot (DOT) token, which saw a gain of nearly 16...

Blog • 31 August 2020, Monday, 14:00

5 Chinese Banks to Build Blockchain-powered Trade Platform + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Blockchain news The China Banking Association (CBA), a self-regulating organization that represents China's banking sector, will team up with the country’s five biggest banks to co-build a blockchain-powered platform for inter-bank transactions in trade financing, reported the People’s Daily and East Money. The state-owned banks – the Industr...

Blog • 31 August 2020, Monday, 10:00

New Craze is Served on the DeFi Table, Competing with Uniswap - Sushi

There is a new item on the decentralized finance (DeFi) table - SushiSwap. While some find it a potential threat to decentralized exchange protocol Uniswap, others are expecting its demise. That said, it's been recording some strong numbers in terms of daily trading volume and total value locked. As to what this new item is, a commenter described it as "essentially Uniswap but with a native governance token given to LPs that generates revenue from trading fees." So let's unpack this. U...

Blog • 31 August 2020, Monday, 08:00

Yearn.finance Continues Rally As Traders Pay Almost 3 Bitcoin Per YFI

After a month of extraordinary returns of more than 740%, DeFi darling yearn.finance (YFI) keeps climbing today, while traders remain divided on whether the top has been reached for the price or if it still has room to grow. As of press time on Monday (10:28 UTC), YFI was up by 3.5% over the past 24 hours and up more than 154% over the past 7 days, currently trading at USD 33,765. The rally continues after the YFI price exceeded that of bitcoin (BTC) earlier in the month, causing some discussion...

Blog • 31 August 2020, Monday, 02:00

Ethereum Classic Up by 3% Today After Third 51% Attack In a Month

The crypto market sent the price of ethereum classic (ETC) higher in the early hours of Monday (UTC time), despite the news that one of the top 35 crypto networks by market capitalization suffered its third 51% attack in a month. At pixel time (04:46 UTC), ETC trades at USD 6.68 and is up by 3% in a day, trimming its weekly losses to less than 2%. The price is down by almost 11% in a month. ETC price chart: Yesterday, ETC developers confirmed that the attack this past weekend caused a reorgani...

Blog • 30 August 2020, Sunday, 10:00

Asia Dominates Crypto, But Here’s Why That Could Soon Change

The crypto world’s center of gravity is Asia. Big crypto-exchanges and companies operate in Europe and North America, but the majority of users are located in the Asia Pacific region, as are most of the world’s biggest exchanges and mining pools. There are many reasons why this is the case. But experts speaking to Cryptonews.com argue that two reasons, in particular, stand out, namely regulations and existing financial infrastructure. But there are also other factors at play, such as the fact th...

Blog • 30 August 2020, Sunday, 08:00

The Most Confusing Crypto Terms and What Can Be Done to Clarify Them

Cryptocurrency is a domain of jargon. ‘Blockchains,’ ‘full nodes,’ ‘miners,’ ‘nonces,’ ‘side-chains’: these are only a few of the terms in crypto that are known to cause confusion and disagreement. Not only does the ambiguity of vocab undermine the ability of people within crypto to communicate with each other, but it also arguably turns off people on the outside who might otherwise be interested in delving further. Cryptonews.com has spoken to a variety of industry figures to find out what som...

Blog • 29 August 2020, Saturday, 10:00

Highs, Lows, Flipping, Bridging and 20 Crypto Jokes

This week in the Cryptoverse, bitcoin mining difficulty hit a new all-time high and rose further, RyanAir CEO said to avoid bitcoin like a plague, deVere Group CEO said that 2020 was a breakout year for bitcoin, and Snappa joined the group of companies diversifying their cash holdings into bitcoin. Meanwhile, Aave’s LEND soared and flipped Maker as the largest DeFi platform by total value locked. We also learned that Medalla is running 'reliably', and that a much-anticipated ETH EIP coul...

Blog • 29 August 2020, Saturday, 08:00

Why a State Attack on Bitcoin Is Neither Likely, nor Likely to Succeed

Now that bitcoin (BTC) is establishing itself as an alternative store of value, fears are growing that governments might one day be motivated to try to take it down. Members of the Bitcoin community have recently been brainstorming scenarios involving theoretical governmental offensives against the popular cryptoasset, ranging from misinformation-based strategies to bans and even classic 51% attacks. However, industry figures have told Cryptonews.com that they believe the probability of a seriou...

Blog • 28 August 2020, Friday, 16:00

'Opt-Out with Bitcoin,' Says Visa's Director of Public Policy + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Business news Andy Yee, senior director of public policy at Visa, tweeted to his followers to “Opt-out with Bitcoin.” This follows a speech made on Thursday by The Federal Reserve Chairman in which he discussed, among other things, permitting inflation to temporarily rise higher than the 2% target. “Jerome Powell’s speech today will be for the hi...

Blog • 27 August 2020, Thursday, 16:00

China: Bank to Launch Blockchain-Powered Int’l Trade Platform + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Blockchain News Chinese financial institution Wuxi Rural Commercial Bank has launched the Jiangsu Province’s first blockchain-powered cross-border financial services platform, per news agency JRJ. The bank says that the platform will boost its own risk management operations, and “greatly shorten” the amount of time companies and backers spend fin...

Blog • 26 August 2020, Wednesday, 22:00

As Browser-Based Cryptojacking Surges, AI Could Soon be Hunting Hackers

The second quarter of 2020 brought a sudden surge in browser-based cryptojacking, with U.S. cybersecurity firm Symantec reporting a 163% increase in detected incidents compared with the previous quarter. To counter this worrying trend, researchers are developing new solutions based on artificial intelligence that could soon become key to stopping criminals from hijacking their victims’ devices to mine cryptocurrency. Cryptojacking is a term used for unauthorized use of someone’s computer to mine...

Blog • 26 August 2020, Wednesday, 04:00

Up To 50% Yielding Crypto Bond By Minereum Is Now Live

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Minereum, the first self-mining smart contract, has launched its first Crypto Bond in the DeFi space. The Minereum Crypto Bond is a blockchain smart contract with traditional bond functionalities and offers up to 50% yield. Minereum allows users to mine coins without the need for any mining equipment. Initially launched in 2017 via airdrop, Minereum launched a new V2 airdrop in 2020, which included 1.2 million ...

Blog • 25 August 2020, Tuesday, 16:00

Akon Joins Brock Pierce's Presidential Campaign + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Business news Akon, a singer who's been spending most of his time building a “crypto city” in his native Senegal, will be joining Brock Pierce’s presidential campaign. This was confirmed by the 2020 candidate via Twitter. Akon will serve the campaign team as chief strategist.Bella, a crypto company behind the decentralized finance (DeFi) proj...

Blog • 24 August 2020, Monday, 22:00

Stop Sweating About BTC Supply, Expert Tells Bitcoiners

Bitcoiners’ greatest fear – certainly in recent months – revolves around supply issues. What happens to bitcoin (BTC) when there is nothing (or very little) left to mine. How will the world’s biggest token respond? Well, one expert says that “concerns about bitcoin’s long-term supply credibility are overblown,” but argues that his reasoning might surprise some people. In a blog post, Castle Island Ventures co-founder Nic Carter, stated that people who argue that BTC will be “forced to add inflat...

Blog • 24 August 2020, Monday, 08:00

Bitcoin Mining Difficulty Hits a New Record, Estimated to Rise Further

The difficulty of mining bitcoin (BTC) has just reached another all-time high, after rising more than expected during today’s difficulty adjustment. Meanwhile, the network’s hashrate is still below its all-time high from back in July. As reported five days ago, bitcoin’s mining difficulty, which is the measure of how hard it is to compete for mining rewards, was expected to rise to a new all-time high today, per estimates from BTC.com - a rise of 3% would've brought bitcoin’s difficulty up t...

Blog • 23 August 2020, Sunday, 08:00

Why the Bitcoin vs. Ethereum ‘Rivalry’ Benefits Both Tokens

The bitcoin (BTC)-ethereum (ETH) rivalry is hotting up. For years bitcoin has enjoyed a dominant share of the crypto sector, yet with decentralized finance (DeFi) now gaining astronomical popularity and ETH rising by 231% over the course of the past 12 months, it seems as though BTC’s once unassailable position at the top of the stack is now coming under threat. A small yet significant number of Bitcoiners is becoming worried about ethereum’s strong 2020. Some are fearful that ethereum’s stronge...

Blog • 21 August 2020, Friday, 12:00

As Investors Worry About Pricey Gold, Correlation with Bitcoin Falls

With gold bulls seemingly on every corner, a recent survey from Bank of America has found that professional money managers now increasingly worry that the metal is becoming overvalued, even after a correction in prices from its all-time highs. Meanwhile, the realized correlation between bitcoin (BTC) and gold has fallen again, after recently hitting its highest level in a year. According to a Bank of America’s monthly survey of professional fund managers, 31% of respondents now believe gold is o...

Blog • 21 August 2020, Friday, 10:00

USD 50B in Crypto from Asia Hints at Chinese Capital Flight – Report

With more than USD 50 billion in crypto leaving wallet addresses tied to East Asia and headed to other regions around the world over the past 12 months, signs point to crypto increasingly being used to evade strict Chinese capital controls, a new report from on-chain analysis firm Chainalysis said. According to the report, the East Asian region sends more cryptocurrency to addresses overseas than any other region does, with USD 50 billion in crypto being sent out between July 2019 and June 2020....

Blog • 21 August 2020, Friday, 08:00

Miners, Investors Clash Over ETH Proposal; Bug 'Best Thing' for Testnet

A new proposal to reduce the inflation rate on the Ethereum (ETH) network is facing criticism from the mining community, as some miners suggest token investors may be more interested in making money on their holdings than the security of the network. Meanwhile, a bug that infected the Medalla testnet was the "best thing" to happen to it, said an editor. The center of the controversy this time around is a proposal known as EIP-2878, which proposes a massive 75% reduction in block rewards to miner...

Blog • 20 August 2020, Thursday, 16:00

Colombian Tech Ministry Wants to Boost Crypto Progress + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news The Colombian Ministry of Technology has spoken out in favor of blockchain and crypto innovation for the public sector. In anofficial release, the ministry claimed the country was “lagging behind” its international rivals when it came to adopting blockchain technology. The ministry suggested adopting blockchain-powered health record...

Blog • 20 August 2020, Thursday, 13:00

Two Suspects Arrested in USD 1.5m Crypto Mining Electricity Theft

Officials from the Oblast Directorate of the Ministry of Interior Affairs (ODMVR) and CEZ Electro Bulgaria have reportedly made two arrests in what is described as the “largest theft” of electricity for cryptocurrency mining in the Balkan country. The two men arrested were found on the premises of two cryptocurrency mining farms that have both illegally tapped BGN 2.5 million (USD 1.51 million) worth of electricity, according to reports from a local news outlet, Dnes.bg. The crypto mining farm...

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