Day: April 26, 2023

Ethereum’s (ETH) Energy Footprint Before the Merge, Was as Much as Switzerland’s Yearly Use

“If I go out on the street now and ask, ‘Hey, what is 100 terawatt hours? What is six gigawatt hours?’ people don’t know,” said Neumüller in an interview with CoinDesk. “So we have tried to contextualized it in the form of pictures, specifically with the buildings and, of course, the raspberry. This makes these magnitudes very clear without an understanding of energy notations.” Original Source EnergyETHEthereumsFootprintMergeSwitzerlandsYearly CryptoX Portal

Circle’s Fed payment rail goal could be crushed by NY Fed’s policy change

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The New York Federal Reserve has published new rules for counterparties looking to use its money market balancer, casting uncertainty over intentions by stablecoin issuer Circle to use the Fed’s systems. In an April 25 statement, the New York Fed announced adjustments to its guidelines to determine which parties are eligible to participate in its reverse repurchase agreements (RRP). The updated guidelines could potentially hinder Circle’s chances of gaining access to the Fed’s reverse-repurchase program — a process where the Fed sells securities to eligible counterparties with an agreement to…

Gary Gensler links crypto with cash in viral 2018 video — Crypto Twitter reacts

The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The video came from a “Blockchain and Money” class in the Fall Semester of 2018 taught by Gensler, a former professor at the Massachusetts Institute of Technology (MIT) before he became chair of the Securities and Exchange Commission (SEC). On the topic of initial coin offerings (ICOs), Gensler said that…

The danger with Google’s new cloud backup for 2FA authenticator

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Google released an update for its popular authenticator app that stores a “one-time code” in cloud storage, allowing users who have lost the device with their authenticator on it to retain access to their two-factor authentication (2FA).  In an April 24 blog post announcing the update, Google said the one-time codes will be stored in a user’s Google Account, claiming that users would be “better protected from lockout” and it would increase “convenience and security.” In an April 26 Reddit post to the r/Cryptocurrency forum, Redditor u/pojut wrote that while the…

How Bitcoin’s Use of Mathematical Tools Ensures System Consistency – Featured Bitcoin News

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Over 14 years ago, Satoshi Nakamoto unveiled the Bitcoin network to the world, creating the very first triple-entry bookkeeping system known to mankind. This technological wonder, with a current market value of $540 billion, ingeniously integrates encryption and mathematical formulas to fortify its security. In this exploration, we delve into two of the mathematical choices that underpin Bitcoin’s complex architecture, determining block rewards, transaction inputs and outputs, and mining difficulty adjustments, while also regulating the pace at which new blocks are discovered. Whole Numbers at Work: A Look at Bitcoin’s…

Bitcoin white paper quietly removed by Apple from latest MacOS beta: Report

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The world’s largest tech company has quietly removed the Bitcoin (BTC) white paper from the latest beta version of its operating system upgrade. On April 25, the Apple-focused news site 9to5Mac reported the Big Tech firm had removed a test scanner app called Virtual Scanner II in the latest MacOS Ventura 13.4 beta, and subsequently, the Bitcoin white paper is gone. As reported by Cointelegraph, an April 5 blog post from technologist Andy Baio revealed that a PDF copy of Satoshi Nakamoto’s Bitcoin white paper PDF had shipped with every…

Solana Labs’ ChatGPT plugin allows AI to fetch blockchain data

Solana (SOL) users will soon be able to interact with the network through an open-source plugin enabled on OpenAI’s artificial intelligence (AI) chatbot ChatGPT. The plugin will allow ChatGPT to check wallet balances, transfer Solana-native tokens and purchase nonfungible tokens (NFTs) when OpenAI makes plugins available, according to an April 25 tweet by Solana Labs, the development firm behind the Solana blockchain. Solana Labs is also encouraging developers to test out the open-source code to retrieve on-chain data that they may be interested in. (1/2) Solana Labs has created an…

Bitcoin price jumps in the wake of First Republic Bank crash

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The price of Bitcoin (BTC) spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25. According to the Head of Research at Australian crypto education platform Collective Shift, the price of Bitcoin rallied immediately following Fox News Business Reporter Charles Gasperino breaking the news that bankers working with First Republic Bank expect the institution to go into government receivership. #Bitcoin $BTC is up 2.4% in the last…