Blockchain Archives

Bitcoin Mining Industry Seeks Refuge From Chinese Regulators

By Edward — June 2, 2021 Leave a Comment

The crypto community was left in shock after the announcement of China’s latest crackdown on cryptocurrencies, which included not only the ban of financial services related to cryptos and the trading of digital currencies but also the mining of said currencies. China has been the global bitcoin mining hub throughout the years and is responsible for around 65% of all bitcoin mining worldwide, even after the recent ban. But the effects of local regulations are pushing large mining operations out of the country. Several big mining firms have ceased operations in China and are looking to move their operations to regions such as Central Asia and North America.

Miami to Host Bitcoin 2021 Conference

By Edward — June 1, 2021 Leave a Comment

Thousands of crypto enthusiasts, industry professionals, and public figures are descending upon the vibrant city of Miami this week to attend a cryptocurrency conference which is said to be the biggest crypto-related event in history. Organizers are expecting over 50,000 attendees at the Bitcoin 2021 Conference, which will be running for three days at the Mana Convention Center in Miami’s Wynwood neighborhood. Some of the most influential names in the crypto world will be attending the conference, including top industry executives and celebrities.

China’s latest crackdown, crypto-related services banned

By Edward — May 26, 2021 Leave a Comment

China is yet again making news by tightening crypto regulations and introducing a new ban that prohibits financial institutions and payment companies from providing any crypto-related services. This ban will forbid banks and online payment companies from providing any services related to cryptocurrencies such as registration, trading, clearing, and settlement of digital currencies according to a joint statement released earlier this month by three financial industry associations in China. These three industry bodies are the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China.

Bitcoin miners meet with Elon Musk and agree to form council for a “greener” Bitcoin

By Edward — May 25, 2021 Leave a Comment

A meeting between Elon Musk, a few top Bitcoin miners, and CEO of Microstrategy Michael Saylor took place over the weekend in hopes of forming a Bitcoin Mining Council. The meeting had focused on forming an organization to initiate reporting standards and ESG goals on Bitcoin mining to promote sustainability. The forming of a Bitcoin Mining Council would “standardize energy reporting, pursue industry ESG goals, and educate and grow the marketplace” according to Saylor.

Facebook Turns the Page to Reveal Plans for New Diem Digital Currency

By Edward — May 19, 2021 Leave a Comment

The online social networking platform Facebook has announced its plans for launching its new Diem digital currency project in early 2021, which will eventually be launched in two sets consisting of a multi-currency coin and the other in the form of stablecoins pegged to the U.S. Dollar and the Euro. The Diem digital currency is intended to revolutionize the fintech space and allow money transfers to be performed as easily and as seamlessly as sharing photos and other media on the web. It has also been said that the transfer fee for Diem will be very cheap, which will surely attract a great number of new users and see the currency experiencing high trade volumes.

The new “eco-friendly” Chia crypto claims to be a greener alternative to Bitcoin

By Edward — May 13, 2021 Leave a Comment

It’s been a very exciting and action-packed year for cryptos. Skyrocketing prices and news headlines have drawn major attention as the crypto industry finds its place in the world. Just over a month ago, the total crypto market cap exceeded $2 trillion, which goes to show just how much growth has been taking place within […]

TikToker’s mockery crypto coin blew up to a $70m market cap in first hour

By Jakob — May 6, 2021 Leave a Comment

From Dogecoin and Garlicoin, to SCAM coin, don’t joke around with cryptocurrency creations because your parody coin could have a market cap of $70 million within the blink of an eye. This has been the case for Andre Lewis’ ‘prove a point’ cryptocurrency. What started out as a “middle-finger” to exploitative ‘shitcoins’ has gained monumental traction for this inexperienced crypto founder.

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By Jakob — May 6, 2021 Leave a Comment

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Ethereum on the rise – step aside Bitcoin

By Edward — May 5, 2021 Leave a Comment

It’s been a stellar week for the digital coin Ether as its price hit an all-time high of over $3400 on Tuesday, extending its rally with gains of more than 300% this year. The coin has quadrupled in value since the start of 2021 and some experts believe there’s more to come. Ethereum is the world’s second-largest cryptocurrency and has seen a growth of over 320% from the beginning of the year compared to Bitcoin’s 98% – which is still very impressive.

UK Next on the List for a Digital Currency?

By Edward — April 21, 2021 Leave a Comment

Central banks have been looking into issuing their own central bank digital currencies (CBDC) and the UK has their eyes set on one of their own. China has been in the lead among major economies for years as they have already started extensive testing on a pilot last year. But now the UK is hot on their heels with ideas for their own CBDC. Of Course, a lot more planning and research is involved when structuring a new digital version of a major economy’s currency. And the UK is doing all the necessary research to ensure a smooth-running operation.

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