With hedge funds, family offices, and institutional bankers adding Bitcoin to their portfolio, the cryptocurrency has finally attracted the recognition of being a unique asset class. Although this is a well-cemented fact for those in the space since Bitcoin’s early inception, this digital token is strikingly different from traditional asset classes such as real estate
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Bitcoin has now recovered almost all the hashrate lost during the Chinese mining crisis. The problems of Bitcoin mining in China The first symptoms of a crackdown on mining in China were already there in the second half of April, but they only caused a temporary drop in hashrate so that by mid-May, it had
Will the price of Bitcoin recover? Historically, Bitcoin was seen as a hedge against potential economic downturn; operating outside of market cycles and offering investors an opportunity to diversify their portfolios. More recently, however, we have seen that Bitcoin – now considered an asset class by many – is inextricably linked with the macroeconomic environment.
The second largest cryptocurrency by market cap, Ethereum (ETH), implemented a token burn mechanism on Aug. 5, 2021, through the Ethereum Improvement Proposal (EIP) 1559 upgrade. Since then, nearly $9 billion worth of tokens have been burned cumulatively, data from Glassnode indicates.A total of around 2.8 million ETH tokens have been removed from the supply
As was expected, the third halving led to an adjustment of Bitcoin’s hashrate, the computational power of the blockchain network. From the highs reached in the hours right before the halving, when it scored its absolute all-time high at 137.57 exahash/sec, the hashrate dropped in the last few hours, or rather collapsed, breaking the 100
The US Treasury has placed BitRiver, a Bitcoin mining company operating in Russia, on the blacklist of companies subject to sanctions. Sanctions against Russia also affect Bitcoin mining The US Treasury’s Office of Foreign Assets Control (OFAC) has placed BitRiver on the list of companies subject to sanctions. The official release states that the US
Web3 is becoming the general term used to describe technology built on top of the blockchain. The term essentially means we are broaching the next generation of the internet. Decentralized Finance (DeFi), Non-Fungible Tokens (NFT), and various token based economies which are fundamentally and technologically different from Web 2.0. The following will offer a deeper understanding
Blockworks Research has released its report on Bitcoin mining called Bitcoin State of Mining. The report on Bitcoin mining This is a biweekly report on mining, with metrics and news specific to miners, regulatory developments, and any other topics that impact the industry. Bitcoin State of Min(ing): A bi-weekly report covering the Bitcoin Mining sector
In order to understand how to mine Ethereum you first need to be clear about the concept of PoW. The first blockchains that came out and developed over time all had a common denominator, namely the PoW (Proof of Work) consensus algorithm, which allows through a complex calculation to provide proof that it actually took
