May 17, 2020

ETH Community Discuss DAO for Reversing Funds Lost to Wrong Addresses

May 17, 2020 boss

A proposal for the creation of a specialized decentralized autonomous organization, or DAO, has garnered debate within the Ethereum (ETH) community. The focus of this DAO would be to refund users who have mistakenly sent their funds to a wrong address, provided that the address contains less than three incorrect characters. The proposal gathered steam in response to a user requesting help from the r/Ethfinance community on Reddit after claiming to have lost 40 Ether as a result of a single mistaken alphanumeric character entered into the receiving wallet’s address.…

45 Older-Generation Bitcoin Miners Are Unprofitable After the Reward Halving

May 17, 2020 boss

On May 11, the Bitcoin network experienced its third block reward halving, which had chopped the 12.5 BTC reward to 6.25 coins following the event. It’s been close to a week later, and data stemming from mining rig profitability websites show that more than 45 older generation devices are not profitable right now at today’s bitcoin exchange rates. After May 11, Many Older-Generation Bitcoin Mining Rigs Bit the Dust Recent research analysis by 8btc columnist Vincent He and the cryptocurrency mining operation F2pool, indicates that roughly 45 older mining devices…

Top 5 Cryptocurrencies to Watch This Week: ETH, XLM, ADA, XMR, CRO

May 17, 2020 boss

Besides Bitcoin, several major cryptocurrencies are consolidating close to their overhead resistances and could offer buying opportunities in the short-term. The coronavirus pandemic has crippled the United States’ economy, which is staring at its worst recession since the Second World War. To counter this, the U.S. Federal Reserve has pumped trillions of dollars into the economy. These measures are may result in hyperinflation in the future. Therefore, investors are buying gold and Bitcoin (BTC) to hedge their portfolios. Crypto market data daily view. Source: Coin360 The top-ranked cryptocurrency by market…

Bitwala Teams Up With Celsius to Offer Interest to Hodlers

May 17, 2020 boss

German blockchain banking firm Bitwala has partnered with pioneering decentralized finance, or DeFi, platform Celsius to offer annual interest on Bitcoin (BTC) holdings of up to 4%. Funds deposited from customers who opt to use Bitwala’s Bitcoin Interest Account will be loaned to institutional borrowers via Celsius, earning weekly interest on their Bitcoin in the form of BTC. German blockchain bank integrates Celsius Bitwala frames DeFi as “a new way to generate wealth,” emphasizing the opportunity for passive income to be generated from crypto holdings. Users can deposit from $12…

DigiByte Founder Steps Down, Slams ‘Greedy’ Crypto Culture

May 17, 2020 boss

Jared Tate, the founder of DigiByte (DGB), has announced he is stepping down from his daily operation, accusing the crypto community of becoming “co-opted [and] eroded by greed” and warning of centralization. Tate’s announcement comes shortly after DigiByte rallied by 900% in roughly six weeks. DigitByte founder stands down In a series of tweets posted on May 15, Tate took aim at the blockchain community for placing an emphasis on short-term profiteering. “All 90% of the people care for is cashing out when a coin moons,” he said. “It’s a…

JK Rowling Bitcoin Quest: Elon Musk Joins Community to Explain Cryptocurrency to Harry Potter Author

May 17, 2020 boss

Harry Potter author JK Rowling has become inundated with bitcoin insight and cryptocurrency explanations when she tweeted asking someone to explain to her what bitcoin was. Tesla CEO Elon Musk was among those trying to explain bitcoin to Rowling. He believes that bitcoin is “solid” compared to governments’ fiat money. JK Rowling Wants to Understand Bitcoin British author J.K. Rowling, famed for writing the Harry Potter book series, tweeted on Friday: “I don’t understand bitcoin. Please explain it to me.” Her query, which had been retweeted about 2,400 times and…

An Overview of Crypto-Staking Networks

May 17, 2020 boss

The debate over which consensus algorithm is right for blockchain is long overdue. While proof-of-work remains popular with Bitcoin (BTC), interest in proof-of-stake protocols has been picking up speed, especially with the planned shift of Ethereum to a PoS, Ethereum 2.0. Which one is better, though, remains up for debate. For example, Ankit Bhatia, a co-founder and the CEO of Sapien, told Cointelegraph: “Proof-of-stake is simply more scalable because it eliminates the race to solve math problems and the need for computation to grow the pot.” According to Bhatia, PoS’s…