Bitcoin Domino Effect: Arms Race For Nations To Adopt BTC Is On
In retrospect, it seemed inevitable that the poorest regions on earth would be amongst the first to embrace Bitcoin. After El Salvador announced its intention to give BTC legal tender status, many politicians from Latin America and other parts of the world have shown their support and intentions to implement pro-Bitcoin politics. Paraguay, Brasil, Mexico, […]
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This week, it was revealed that India would seek to impose some of the most stringent rules globally on cryptocurrencies, banning citizens from owning, trading, transferring, or mining assets like Bitcoin and altcoins. The move comes as cryptocurrency technology captures the interest of the financial world, Bitcoin grows considerably, and India plans to introduce its own digital currency framework. But could this be the start of a domino-like effect where other weaker governments and economies […]
PRESS RELEASE. Global blockchain technology organization ABBC Foundation announced a new crypto trading hub through its next-generation decentralized exchange (DEX) – DOMINO. Target launching of the DEX is on July 18, 2022.
ABBC Foundation declared that DOMINO will boast enhanced security protocols to facilitate a safe and efficient trading environment.
DOMINO DEX will allow its users to have the freedom to take advantage of low trading costs, no additional fees, and no minimum requirements needed. DOMINO DEX will only charge minimal fees; however, the fees can....
Both El Salvador and Paraguay have signaled their pro-Bitcoin intent. But as pointed out by @GaryLeland, Brazil and Panama have also declared an interest in following suit. The list keeps growing. El Salvador, Brazil, Paraguay, and Panama are moving to #Bitcoin. Who is next? — 🅖🅐🅡🅨 🅛🅔🅛🅐🅝🅓 The Bitcoin Boomer (@GaryLeland) June 8, 2021 This […]
CoinDesk's Daniel Cawrey recently visited and toured the facilities at Butterfly Labs, one of the most prominent and written about producers of bitcoin mining technology. In this second part of this series, he reports on the factors involved in the bitcoin mining arms race. Now that Butterfly Labs is shipping ASIC bitcoin miners at a steady pace, their production plus that of Avalon and mining pools like ASICMiner are causing the mining difficulty to go up quite quickly. What this means is that it takes more computational power to complete proof of work algorithms. It means that a race is....
Manufacturers are planning to ship scrypt-based equipment that will speed up mining and reduce the power overhead for the alternative cryptocurrency algorithm. Could this fuel the next cryptocurrency arms race? Most cryptocurrencies that are mined by computers use a 'proof of work' algorithm, designed to make them prove that they have invested the computing power in producing the coins. Bitcoin uses SHA-256, but many alternative coins (altcoins) use another system, called scrypt. One of the biggest differences between scrypt and SHA-256 is that the former relies heavily on computing....