Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Why Moons are better than BAT, PRE, and SLP. IMO…

… to earn crypto while being on the internet. First, this is based on $ USD gains, my experience and AVG. numbers found on internet, not in the actual use or technical aspects of each token. I selected this token because those are the one I know you can earn while browsing internet, if you…
Read more

XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?

The company behind the XRP Ledger crypto wallet, Xumm, unveiled its plans to launch an “Infrastructure Overhaul” for the network. The company claims the upgrade will push the XRPL to the next level. According to an official announcement shared with Bitcoinist: This isn’t just a technical upgrade; it’s a strategic move to reshape the very foundation of the XRPL, ensuring a sustainable, efficient, and inclusive future for all participants. Related Reading: XRP Price Prediction – Will Recent Correction Trend Push XRP Under $0.50? XRP Ledger Upgrade Goes Beyond? Implications For The Network Xumm believes the XRP Ledger has an “advanced” infrastructure, but they aim to address some key issues impacting “flexibility” and performance. The company believes that with its present capabilities, the network has difficulty processing transactions and fetching historical data. In the long run, these issues could affect the ledger’s capacity to onboard new users and use cases. Xumm’s new update is set to improve the ledger’s capacity to avoid bottlenecks while enhancing local node connections and “ensuring” access to real-time data. As seen in the image below, the infrastructure upgrade will allow entities operating on the ledger to filter out transactions, avoid scam accounts, reduce network fees, and improve scalability. The company decided to donate the upgrade via software to the XRPL Foundation. Wietse Wind, founder and CEO of XRPL Labs, stated: This is, without a doubt, the most monumental upgrade to the XRPL infrastructure since its inception, marking a pivotal moment in our pursuit of a healthier, sustainable XRP Ledger. New Rewards For XRPL Users, The Airbnb Network In addition to improving the XRPL’s infrastructure and ecosystem, Xumm wants to introduce a new monetization strategy to reward node operators. In that sense, the company claims to have “rebuilt the XRPL Cluster Software” to encourage users to stop relying on third parties. This change will put more financial pressure on major platforms, such as non-fungible tokens or crypto trading platforms, rather than on the small individuals operating on the ledger. The company added: In this ecosystem, quality hardware will be monitored, and users can plug in their node to the cluster, receiving queries from nearby sources. Those contributing resources will earn the lion’s share of the billing from larger consumers. It’s akin to an “Airbnb for XRPL infrastructure.” Some of the benefits of this infrastructure update include: Better stability. Guarantee real-time transaction processing. Connection Consistency across the ecosystem. Overall, individuals will benefit from these improvements. Xumm concluded: This development ensures a flexible in-ecosystem platform where supply and demand can dynamically be matched. Keeping public infra flexible, scalable, and cheap. Related Reading: Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With XRP trades at $0.5 with sideways movement across small timeframes as of this writing. Cover image from Unsplash, chart from Tradingview

Gemini invests $24M for expansion in India

Launched in May, the Gemini Gurgaon Hub has since added over 70 staff.

US Federal Reserve Banks say stablecoins could ‘become a source of financial instability’

The report compares stablecoins to money market funds and ultimately concludes they have similar shortcomings.

Do Bitcoin halvings spark BTC price rallies, or is it US Treasurys?

An intriguing chart shows a close relationship between U.S. 10-year Treasurys and Bitcoin halving price rallies.

In 2021, “Mr. White Hat” pulled off a $600+ million exploit against the Poly Network, which is the second biggest crypto hack of all time. He then established communication through Ether transaction data fields, and agreed to give all the stolen crypto back. He was given a 160 ETH bounty.

On August 10, 2021, in the heat of the bull run, the Poly Network (not to be confused with Polygon) was hit with the biggest crypto hack to ever occur at that time (now surpassed only by the $625 million Ronin Network hack). The hacker(s) was apparently able to exploit a weakness in the smart…
Read more

Bitcoin Mining Now Most Sustainably-Powered Global Industry: Data

Data shows that the Bitcoin mining sector has become the most sustainably-powered global industry, as more than 50% of it uses clean energy. Majority Of Bitcoin Mining Industry Uses Clean Energy Sources One of the main criticisms against BTC is that the sector uses a considerable amount of energy and, thus, releases a notable amount of emissions. Things appear to be developing for the better and quite fast. In a new post on X, the co-founder of CH4Capital, Daniel Batten, has shared a few charts that look into the sustainability of the BTC network and how it compares with other sectors. The first chart displays the trend in the percentage of sustainable energy used by Bitcoin mining and other industries over the last four years. The trend in the clean energy used by the various global industries | Source: @DSBatten on X As shown in the above chart, most industries have seen minimal growth in using sustainable energy during this period. The Banking Sector, the second largest in terms of clean energy usage, saw a rise of 2.6%. Related Reading: Bitcoin Mega Whales Return To Selling Mode, More Downside Soon? On the other hand, the Bitcoin mining sector has observed an increase of a whopping 38%, which has taken the share of sustainable energy powering the blockchain to 52.6%. This growth has naturally made BTC mining the most sustainable among these global industries. An even more interesting chart is this one that compares the emissions of the network (in terms of megatons of CO2 emitted) with the various indicators related to the blockchain’s growth. Looks like emissions on the network have gone down in this period | Source: @DSBatten on X Three Bitcoin metrics are being considered here: the mining hashrate, the price, and the total number of users. The first has grown by 475% during the past four years, the second by 164%, and the third by 289%. Despite these growths, however, the emissions of the mining sector have gone down almost 10% in the same period. Batten notes that even if you double these metrics during any four-year cycle, the emissions will be the same as at the start, which no other industry has achieved. The fact that the hashrate, which is a measure of the total amount of computing power that miners have connected to the blockchain, has been able to rise while total emissions go down would imply that the emission intensity (that is, the emissions per kWh of power used) has declined. Related Reading: Bitcoin Social Media Talk Drops To 3-Month Low, All Eyes On Altcoins? Indeed, as the data would confirm, the BTC network’s emission intensity has dropped by more than 50% in the last four years, making the mining sector the most emission-efficient among the global industries. All other industries have only seen a slight decrease in this metric | Source: @DSBatten on X Finally, Batten has also shared the energy composition of the network, noting that the largest power source is hydro. 23.1% of the network is powered by hydro energy | Source: @DSBatten on X This means that the Bitcoin mining sector is also the only one that doesn’t have its largest source of power coal. BTC Price Bitcoin has been stagnant for a while now, and the asset is only continuing this sideways trend as its price trades around the $26,100 level. BTC is still stuck in its consolidation | Source: BTCUSD on TradingView Featured image from Brian Wangenheim on, chart from

Bahrain’s Bank ABC using JPMorgan’s Onyx blockchain for cross-border payments

After two years of experiments, JPMorgan and the Bahraini bank will offer U.S. dollar payment settlement in several countries, with plans to expand to euro service as well.

Ethereum Hits $10 Billion in Revenue Faster Than Facebook & Microsoft

submitted by /u/Far-Resist9574 [link] [comments]