Crypto mining needs to be redefined before simply casting it away
To ensure a sustainable future for blockchain and crypto, we need to reimagine the mining process and restructure PoW systems. Blockchain mining networks are often victims of their success. The two contemporary realities that demarcate the mining landscape and cause blockchains to fall short of what they promise are 1) the ongoing technological arms race driven by inherent competitive greed; and 2) the rising energy costs associated with proof-of-work (PoW) mining. Blockchains built on the PoW consensus have become highly unequal and increasingly centralized in terms of their hash rate.....
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The BTC mining industry is getting a makeover as miners shift their focus to ESG, or environmental, social and governance, initiatives. Blockchain infrastructure developer Blockstream has partnered with Macquarie Group, an Australian multinational investment bank, to launch a new pilot for a Bitcoin (BTC) mining facility with a mandate to explore carbon-neutral alternatives. As part of the pilot project, Macquarie Group is investing in one of Blockstream’s enterprise-grade mining facilities, the companies announced Wednesday. This will allow Macquarie Group to uncover new opportunities in....
The casting director specifically asks crypto users if they’re willing to use all remaining attempts to access their funds in front of the camera. A casting call for a cable network series may offer crypto users at the end of their rope a way to access tokens locked away — or at least show viewers some of the options available to them.In a LinkedIn post from last month, casting director Jessica Jorgensen called on crypto users who have forgotten their passwords — and presumably their seed phrases — or lost their private keys to wallets with the clock ticking. The series offers....
Why acquire when you can integrate? Happy Wednesday fellow DeFi degens! I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave's liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year) might end up dragging down the token's price as farmers earn and dump. I would feel very uncomfortable holding an asset if the governance token of a very important protocol ends up in the hands of people who only think about....
The difficulty of Bitcoin mining has decreased, for the first time since December 2012, by .62%. For 20 months now, the difficulty has steadily risen to cope with added hashpower from large mining outfits like Ghash.io. But now, though not for the first time, difficulty has decreased. Also read: Judge Considers Allowing Butterfly Labs to Reopen. Security Intact. Speculation aside, it is important to note that at the network's current hash rate of roughly 294 million GH/s, security is not in danger. According to Blockchain.info, this time last year the network totaled just 6 million GH/s,....
In a less than graceful tweet, Jeffrey Smith, the CIO of CEX.io, announced that the company would be pausing mining for its users. Instantly, the internet erupted. Accusations were thrown around, of course, and many wondered out loud if this was the beginning of the end for cloud mining companies like CEX. Their more thorough blog post—which included, among other things, that users are able to turn their hashes back on—received less attention. Of course, accusations continue, and there really isn't anyone who can prove anything either way. Smith tells me that CEX has no hardware of their....