Day: August 23, 2020

Re-Mining Simulation Shows Satoshi Used a Single High-End PC to Mine 1.1M Bitcoin

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Cryptocurrency advocates have been recently discussing the mysterious Bitcoin inventor Satoshi Nakamoto as RSK’s chief scientist, Sergio Dermain Lerner, published a paper called “The Patoshi Mining Machine.” Essentially, Lerner simulated Satoshi’s mining experience. The findings estimate that Bitcoin’s creator used a single computer to mine an estimated 1 million bitcoin minted in the early days. Sergio Dermain Lerner is well known for publishing one of the first estimates backed by technical data in 2013 concerning Satoshi Nakamoto’s alleged stash of bitcoin. During the last seven years, Lerner has published a…

POKKET Expands High-yield Savings Plan Range and Adds Stablecoin Options

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POKKET, a platform that offers structured savings products for dozens of different cryptocurrency tokens, has just announced it will be expanding its range to support an additional 15 different ERC20 tokens. This update comes just weeks after POKKET passed more than $4 million in customer deposits – following dramatically increased demand for high-yield savings products in recent months. Each of POKKET’s structured saving plans last for exactly one week, after which they will be settled. These plans come in three different flavors. Customers can either choose to create their savings…

Coinbase CEO Says Apple Still Hostile Toward Crypto

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Coinbase and Apple are still not getting along months after Coinbase warned customers it might remove an application from the Apple Store.  Coinbase CEO Brian Armstrong tweeted on August 22 that Apple continues to block some functionalities for cryptocurrencies, including being able to earn money and unrestricted decentralized applications (dApp) browsers. He said:  “Apple has been very restrictive and hostile to cryptocurrency over the years. They’re still blocking some functionality right now, including the ability to earn money with cryptocurrency by completing tasks, and unrestricted dapp browsers.” In December, Coinbase…

Miners on Decentralised Storage Network Compete For 4 Million Token Prize

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Filecoin, a blockchain-based decentralized storage project, is officially launching its testnet- Space Race to test out the network before the mainnet launch. As promised, Filecoin will start its testnet launching competition. It encourages global miners for the next three weeks to be competing for up to four million Filecoin in prizes to onboard as much storage space to the network as possible, says the report. The contest begins on August 24 at 10 pm UTC. The top 100 miners globally, and the top 50 miners from each continent, will use…

Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400

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Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, local media reported. Whistle-blowers tipped off authorities on unauthorized miners following a July announcement of rewards including 100 million rials (about $2,400). Tavanir deputy head Mostafa Rajabi Mashhadi told Fars News Agency that the blitz on unlawful crypto mining had been previously limited because the power company “cannot detect all illegal farms solely by studying their consumption patterns.” Iran’s bitcoin (BTC) miners welcomed authorization in July last year, but subsequently…

How Stablecoin Development is changing the future of Cryptocurrency industry

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While Cryptocurrencies have attracted huge investments in recent years and challenged the existence of financial markets, it is yet to replace fiat currency in its entirety. Every currency needs to simultaneously act as a medium of exchange, a unit of account, and a store of value. However, due to its inherent characteristic of volatility, cryptocurrency does not acquire all the functions of a proper currency. This leads to the necessity for stability and certainty. The right alternative is the emergence of Stablecoins. The market price of a Stablecoin will be…

Five Defining Features to Build the New Generation Internet

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Recent geopolitical events, such as President Trump’s order to ban TikTok and WeChat in the United States, have exemplified the imperative of decentralization. The next generation internet will empower individuals to own their data, exchange their wealth, and control their digital footprint — all without being subject to the whims of politicians and tech giants, which have historically weaponized the web for their own gain. Content-addressable storage, or CAS, such as IPFS, eliminates reliance on path addressing, such as that of URLs. Content addressing can prevent malicious behaviors such as…

This Bitcoin Whale Sold at $12,000 BTC Price After HODLing for 2 Years

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A Bitcoin (BTC) whale — an individual investor who holds a large amount of BTC — took profit after two years. Data from Whalemap suggests the whale purchased nearly 9,000 BTC in the third quarter of 2018. A pseudonymous trader known as “Byzantine General,” who shared the data, said: “This whale is a legend. See that big bubble around 6k in 2018? That’s almost 9k BTC that was accumulated there. He finally took profit, after 2 years and 2 major capitulation events.” The whale held on to the BTC for…

With Blockchain, Fraud Will Not Be Able to Steal Digital Ad Revenues

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Recent statistics show that digital advertising spending worldwide will reach a total of $335 billion dollars in 2020. While impressive, the digital media landscape is rife with issues due to a lack of supply chain transparency. As a result, digital ad fraud increases annually. Even with automated advertising technology designed to efficiently power digital advertising on publishers’ sites, challenges persist.  In turn, advertisers are losing billions of dollars each year. It’s been estimated that advertisers lost $42 billion of advertisement spending globally in 2019. This year, revenue losses are expected…