Day: August 24, 2023

Oman to become sustainable crypto-mining hub

Green Data City partners with UAE’s Phoenix Group, launching a $300 million eco-friendly crypto-mining farm in Oman, bolstering the nation’s sustainable tech aspirations. Green Data City, an innovative project based in Oman, has signed an agreement with Phoenix Group, a leading UAE-headquartered mining company. The collaboration aims to launch a mining farm in Oman with a $300 million investment. The forthcoming crypto-mining facility, situated in the Green Data City, will boast an impressive 150MW capacity, according to a report on Aug. 24. This move could elevate Oman’s status as a…

After GOP Debate, Blockchain Bettors See Bitcoin-Friendly Ramaswamy as Most Formidable Trump Challenger

In betting markets, the higher it costs to vote in favor of a given outcome, the more likely that outcome is considered. On Polymarket, it currently costs 71 cents to bet in favor of a second Trump nomination and 32 cents to bet against. In practical terms, what this means is that if Trump wins the nomination, those who bet in his favor are set to earn $1 for every 71 cents they bet. If he loses, they get nothing. Source

The future of BTC mining and the Bitcoin halving

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On the latest episode of Cointelegraph’s Market Talks, host Ray Salmond spoke with Dan Rosen, associate director of derivatives at Luxor, a United States-based Bitcoin (BTC) mining pool, research hub and service provider. The show touched on a number of broad topics, including Rosen’s view on how the upcoming Bitcoin halving will impact BTC price, why Bitcoin’s volatility is set to remain in the double-digits for years to come, and miners’ ability to hedge their operations via hash rate derivatives. According to Rosen: “Any maturing asset goes through experiences of…

Bitcoin could hit $148,000 after halving

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Pantera Capital, using stock-to-flow ratio as a tool, predicts a significant shift in Bitcoin (BTC) prices after halving in 2024. Pantera Capital, one of the leading crypto venture capitals, maintains a bullish outlook and expect BTC to reach $35,000 before halving before another leg up to $148,000 afterwards. The stock-to-flow ratio gauges a digital asset’s present supply in comparison to its new supply influx. This ratio measures an asset’s scarcity—higher values can hint possible price gains.…

Here’s Why Arthur Hayes Is Not In Support Of A BlackRock Spot Bitcoin ETF

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Many stakeholders in the crypto industry have welcomed the idea of traditional finance firms offering a Spot Bitcoin Exchange-Traded Fund (ETF) as they believe it will further drive crypto adoption. However, the former CEO and co-founder of crypto exchange BitMEX, Arthur Hayes, seems to be against the move. Problems With BlackRock Spot Bitcoin ETF Filing In a post published on his Substack platform, Hayes made his displeasure known regarding the recent wave of Spot Bitcoin ETF applications by prominent traditional financial (TradFi) institutions, including BlackRock. Contrary to public opinion, he…

Known-plaintext attacks, explained

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To safeguard against known-plaintext attacks, adopt strong encryption algorithms, manage encryption keys securely, use unique keys per session, and add randomness to encryption processes to enhance protection against attacks. Choose encryption algorithms that can withstand known-plaintext attacks by using strong encryption techniques. By preventing patterns in the plaintext from correlating with patterns in the ciphertext, modern cryptographic algorithms like the Advanced Encryption Standard (AES) are made to survive such attacks. AES is a widely used symmetric encryption algorithm known for its security and efficiency. Securely manage encryption keys to avoid…

Crypto VC inflows drop further as macro factors weigh on investments

July saw a drop in capital inflows from venture capitalists by 10.26% resulting in $700 million raised according to Cointelegraph Research VC Database. The last two months rejected the potential upward trend, as it seems that macroeconomic conditions revolving around the United States Federal Reserve rate hikes and geopolitical events are still having a more severe impact on VCs’ decision making.  With this in mind, many firms are staying risk-off with most of their reserves, while some are deploying portions of capital to value investments. Generally, VCs are closely examining…

Is this exchange the next FTX?

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The blockchain industry has been revolutionary, to say the least. In the last three years, the crypto market has affected and changed lives positively — mine included. And this is why I am a massive advocate of cryptocurrencies and their power to give anyone financial freedom. Perhaps that is why MicroStrategy CEO Michael Saylor’s quote calling Bitcoin (BTC) “digital gold” resonates with me.  As an industry still in its nascent stages, I have had my fair share of unfortunate events happen to me, but none as bad as what I’ve…

Algorand Price Rebound Short-Lived – New All-Time Low Looms

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Algorand native token, ALGO, has experienced a dramatic plunge in the wake of the recent crash in the cryptocurrency market. On August 19, the token’s value plummeted by a staggering 18%, hitting a low of $0.082.  While ALGO subsequently rebounded slightly, currently trading at $0.097 according to CoinGecko, the prevailing sentiment suggests that the selling pressure is something investors must keep an eye on. The 24-hour gains have been a mere 0.9%, and over the span of the past week, ALGO has suffered a 5.3% decline. ALGO price action today.…

11 benefits blockchain explorers offer both individuals and companies

Even those who aren’t steeped in the finance industry can probably call up a visual image of an old-school stock ticker, generating lengths of white tape to help investors stay on top of stock market transactions and developments. Today, these have been supplanted by up-to-the-moment digital trackers. In similar fashion, the crypto industry has blockchain explorers, which offer users real-time tracking of not only their own transactions, but also everything happening on the blockchain. Providing invaluable information for both individuals and companies, blockchain explorers bolster insiders’ argument that cryptocurrencies can…