Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Bitcoin Mining
Binance to Introduce Its First Bitcoin Mining Pool
A recent report stated that Binance is preparing to roll out its crypto mining pool and already has professionals for the project. The launch will take place in the second quarter of 2020, according to the report. Changpeng Zhao, Binance CEO, confirmed the news on his Twitter account. Additionally, Zhao mentioned there are many other projects currently ongoing in the Binance ecosphere. Industry Players’ Views on the Initiative Binance’s move had many industry players share their ideas on the initiative.…
5 years ago
Cryptocurrency Mining Pools – All You Need to Know About Them
Crypto mining is the practice through which transactions are confirmed and added to a blockchain public ledger. It has always been one of the most attractive endeavors in Bitcoin. Crypto mining entails verifying transactions, which is time-consuming and computing power-intensive calculations. Miners then get rewarded for their efforts, usually with tokens of cryptocurrency. As much as the yield from mining might vary, for some, it has a greater appeal than buying bitcoins. Technologically, mining is a process that supports the…
5 years ago
Blockchain Expert Muses About 98% of Bitcoin Mining Rigs Becoming Vainly Obsolete
While bitcoin mining is quite a profitable venture, it comes with a negative environmental impact that can't be ignored. Revealing research by PWC's Alex de Vries paints a very startling picture. About 98% of existing crypto mining hardware will become obsolete quite soon. That's a lot of e-waste in waiting. Shorter Life Spans of ASIC Miners Expected The competitive nature of mining is always on the increase thanks to sustained surges in hash rate and mining difficulty. In about 10…
5 years ago
Uzbekistan Plans to Create a National Mining Pool and Launching Licensed Exchange
The Uzbekistan government has revealed its plans in the upcoming regulation plans on digital currency trading and the blockchain technologies implementation that should be done this year. The announcement came through a press conference conducted on Monday by the National Agency of Project Management (NAPM). Based on the information provided, it is believed that the mining pool will aid both foreign and domestic miners through functioning capabilities as consolidation. National Agency of Project Management's Claims The NAPM continues to put more effort into achieving an effective…
5 years ago