Day: February 19, 2020

How to Mine Bitcoin in 2020

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Bitcoin mining is a great way to earn cryptocurrency while providing a valuable service to the global network of users. Miners can set up a hardware operation by themselves or join forces with a large venture via cloud mining. If you are looking to enter this field in 2020, here is what you need to know about the business. Also Read: Tradeblock Estimates Post-Halving Mining Cost of $12,500 per BTC What Does It Take to Mine Bitcoin in 2020 Bitcoin mining is a transaction security and validation service done via…

Policymakers Shouldn’t Fear Digital Money: So Far It’s Maintaining the Dollar’s Status

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CoinDesk columnist Nic Carter is a partner at Castle Island Ventures, a public blockchain-focused venture fund based in Cambridge, MA. He is also the cofounder of Coin Metrics, a blockchain analytics startup. On May 9th, 2019, Representative Bradley Sherman, member of the House Banking Committee, made an impassioned speech in Congress about cryptocurrency. In his speech, the mask typically worn by policymakers slipped: his words betrayed the threat that cryptocurrencies pose to the state.   “An awful lot of our international power comes from the fact that the dollar is the standard unit of international…

Policymakers Shouldn’t Fear Digital Money: So Far It’s Maintaining the Dollar’s Status

boss

CoinDesk columnist Nic Carter is a partner at Castle Island Ventures, a public blockchain-focused venture fund based in Cambridge, MA. He is also the cofounder of Coin Metrics, a blockchain analytics startup. On May 9th, 2019, Representative Bradley Sherman, member of the House Banking Committee, made an impassioned speech in Congress about cryptocurrency. In his speech, the mask typically worn by policymakers slipped: his words betrayed the threat that cryptocurrencies pose to the state.   “An awful lot of our international power comes from the fact that the dollar is the standard unit of international…

Crypto Mining Giant Canaan Partners With Blockchain Firm Northern Data

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Two major players in the global blockchain industry have signed a strategic partnership to pool together their technological and operational achievements. According to a Feb. 19 press release, Canaan Creative, the world’s second-largest Bitcoin (BTC) mining hardware manufacturer, and blockchain infrastructure firm Northern Data AG were joining forces to work across several fields. In particular, the two firms will cooperate on artificial intelligence and blockchain development, as well as on optimizing data center operations at scale. Expanding technology and global outreach Northern Data focuses on building out infrastructure for high-performance…

Ripple’s XRP On Verge of Rally to $0.70 Because of 7 Technical Factors

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After a brutal -50% performance against the U.S. dollar in 2019, Ripple’s XRP has mounted a strong recovery to start off this new year. Since bottoming around $0.17 in December, the price of the third-largest cryptocurrency has surged as high as $0.33 — a near 100% gain in eight weeks’ time. While XRP has since returned to $0.30, seeing a healthy retracement after the absolutely monumental performance seen, analysts are sure that more upside is likely for the prominent altcoin. NewsBTC has compiled seven technical factors laid out by top…

Bitcoin Coders Confront an Old Quandary: How to Upgrade an Entire Network

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An old debate is resurfacing in the bitcoin developer community, underscoring one of the critical challenges facing decentralized systems: how to update the software when ostensibly no one’s in charge. The catalyst this time is called Taproot/Schnorr, a years-in-the-making privacy and scaling upgrade that’s seen exciting progress recently, especially now that the code in the form of a “pull request” is being reviewed and tested, bringing a change first discussed years ago closer to reality. The code change itself isn’t controversial among developers so far. What is up for discussion…

KuCoin’s USD 50M FCoin Market Maker Support to Provide Some Relief to the Affected

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The reputed cryptocurrency trading and exchange platform, KuCoin has emerged as the champion of market makers on the now troubled FCoin crypto platform by launching the Market Maker Support Program.  The program that went live today is slated to benefit the affected FCoin market makers in two different ways. The Chinese crypto exchange FCoin, on Monday, announced that the company is shutting down following issues related to internal data errors and complicated decisions. The announcement was made by Zhang Jian – the founder. The decision as taken after the platform…

Bitcoin $727B Annual Investment Flow Can Beat Visa Next Halving — Data

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Bitcoin (BTC) is already processing 1% of the world’s GDP and the number is growing by “an order of magnitude” every halving cycle. According to statistician Willy Woo, who analyzed data from monitoring resource Coin Metrics, Bitcoin’s investment flow is $727 billion annually. BTC processes $727B per year The number is almost 10% of payment processor Visa’s transaction volumes each year — Visa processes $8.8 trillion in transactions. “Bitcoin’s investment flow (aka annual investment velocity) is presently growing an order of magnitude (10x) every 4 years,” Woo summarized.  Per the…

OKB Reaches All-Time-High While OKT, OKChain’s Native Token, Launching Soon

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OKEx, the world’s largest cryptocurrency spot and derivatives exchange, has recently announced the launch of OKChain, an OKEx-owned commercial public blockchain and OKEx DEX, the first decentralized application based on OKChain. Adopting a Delegated Proof of Stake (DPOS) consensus mechanism, OKEx has issued OKT as native token of OKChain. The issuance of OKT will be on the genesis block and node block and is expected to increase by 1-5% every year. This marked a key milestone to OKEx, hence, created a push to the OKB ecosystem too. Given this, OKB,…

Lightning Network Increasingly Fragile to Attacks – Hope Turns to Drivechain for Bitcoin Scaling

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In particular, its structure seems to become increasingly similar to a core-periphery one, with well-connected nodes clustering together (as revealed by the study of the eigenvector centrality). More precisely, our analysis reveals the presence of many star-like sub-structures with the role of centers played by the hubs, seemingly acting as channel-switching nodes. Both Proponents and Critics of LN Debate Implications, Definition of ‘Decentralization’ Reactions to the report have been varied in the crypto space, but LN supporters and critics alike think there may be something amiss in the way “decentralization”…