Please share if you find this article interesting. Bitcoin Mining to Use 0.5% of World’s Energy by End of 2018, Peer-Reviewed Research Shows Economist Alex de Vries, who published an article on “Bitcoin’s Growing Energy Problem,” yesterday, May 16, in scientific journal Joule, told the Independent that Bitcoin (BTC) mining will use 0.5 percent of the world’s energy by 2018. De Vries concludes that as the BTC network currently consumes about 2.55 GW of electricity and moves towards consuming 7.67 GW in the future (for reference, Ireland consumes 3.1 GW and Austria 8.2 GW), the network “has a big problem, and it is growing fast.” However, he does note that solutions like the Lightning Network “may alleviate the situation.” Bitcoin mining requires energy for performing the calculati
Please share if you find this article interesting. Bitcoin Price Fails To Accomplish Predicted Rally Following NYC Crypto Conference Bitcoin’s (BTC) price has gone down around 10 percent this week since crypto conference Consensus ended yesterday, May 16, despite predictions that the event would cause the crypto markets to skyrocket. Fundstrat’s Tom Lee, who had accurately predicted a crypto price rise in the wake of US tax day, had used past price spikes after the crypto event to predict a rally “even larger than past years,” according to Bloomberg: “Bottom line: We expect BTC and cryptocurrencies to behave similarly to prior years and rally during Consensus.” However, data from Coinmarketcap shows that BTC went from about $8,726 on May 14 to its now current price of about $8,
Please share if you find this article interesting. Chinese IT Ministry Cryptocurrency Ratings Released: Ethereum 1st, Bitcoin 13th of 28 China’s Ministry of Industry and Information Technology has released its official cryptocurrency ratings. The “domestic experts” awarded Ethereum 1st and Bitcoin 13th out of 28 places May 17. As online cryptocurrency news account cnLedger reports quoting local media outlet China Electronics News (CEN), the Chinese government’s top five cryptocurrencies begin with Ethereum, followed by Steem, Lisk, NEO and Komodo. 1/ Public blockchain ratings by China's ministry is out: #Ethereum ranks top of the 28 cryptos evaluatedSource (in Chinese): https://t.co/9jStIiFKcc — cnLedger (@cnLedger) May 17, 2018 The first tranche of ratings involved 28 cryptocur
Please share if you find this article interesting. Bitcoin in Brief Thursday: OECD Explores Cryptocurrencies, Central Asian Powerhouse Calls for UN Crypto Rules - Bitcoin News The Daily In today’s edition of Bitcoin in Brief we’re focusing on developments in the realm of international politics and economics regarding cryptocurrencies. The Organization of Economic Cooperation and Development is looking into the possible uses of digital coins and the associated technologies. Kazakhstan is calling for the adoption of common crypto rules by the United Nations, while Iran and Russia are thinking about using cryptocurrency in bilateral trade. Also read: Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu OECD Explores Cryptos and ICOs The Committe
Please share if you find this article interesting. Bitcoin Price Can Hit Previous Highs After ‘Structure’ Improves: CoinShares CEO UK cryptocurrency investment products and research provider CoinShares believes Bitcoin will hit previous highs after people “build” on the ecosystem, its CEO said May 16. Speaking to CNBC on the network’s Fast Money segment, Danny Masters identified several changes which would need to occur in order for Bitcoin to see the $20,000 price tag once again. “We need to see this structure continue to build,” he told presenters. “We need to see the custody solutions come and be provided. We need indices and we need performance measures where we can actually start to understand what we're talking about and measure our performance. We need to do more mature w
Please share if you find this article interesting. Banco Santander Successfully Completes ‘First Practical’ Blockchain Investor Voting Pilot One of the largest banks in Europe, Spain-headquartered Santander has become the first company to use blockchain technology for investor voting, it announced May 17. The second blockchain-related first for Santander in just over a month, the bank partnered with US electronic data processing services company Broadridge Financial Solutions to facilitate an investor ballot at its annual general meeting March 23. JPMorgan and Northern Trust participated as custodian banks, an accompanying press release confirmed, along with Santander’s dedicated Blockchain Lab. “The blockchain technology has enhanced efficiency and transparency upon the receptio
Please share if you find this article interesting. Steve Wozniak: Bitcoin And Blockchain Will Achieve Full Potential In a Decade Apple’s co-founder Steve "Woz" Wozniak has commented positively about cryptocurrencies and blockchain technology in his opening speech at the WeAreDevelopers World Congress 2018 in Vienna, Austria. According to a report by Cointelegraph auf Deutsch Wednesday, May 16, Wozniak considers blockchain to be a “great idea.” He further said: “[Blockchain] is the next major IT revolution that is about to happen.” Wozniak explained his positive outlook on blockchain by the fact that there are many useful applications for the technology in a number of areas. The blockchain and cryptocurrencies will achieve their full potential in a decade, according to Wozniak.
Please share if you find this article interesting. Thailand Introduced Legal Framework, But Players Don’t Know How to Comply On Sunday, May 13, Thailand joined a pool of countries that have introduced regulatory frameworks regarding cryptocurrencies. The 100 section law, published in the country’s Royal Gazette, defines cryptocurrencies as digital assets and digital tokens that fall under the regulatory jurisdiction of the Thai Security Exchange Commission (TSEC), making it the main policeman of crypto transactions in the country. TSEC is in charge Thailand’s government has been discussing the idea of a regulatory framework since last February, when Veerathai Santiprabhob, governor of the Central Bank of Thailand asked all banks in the country to halt all cryptocurrency affairs b
Please share if you find this article interesting. Bitcoin Cash Community Sees OP_Code Innovation After Upgrade - Bitcoin News Technology It’s been well over a day since the Bitcoin Cash (BCH) network upgraded its protocol, and the consensus rules now come with a 32MB block size. Although the block size increase is quite a feat, BCH developers have also expanded the network’s default data-carrier-size to 220 Bytes and re-enabled some old Satoshi OP_Codes that were previously removed from earlier codebases. Now over the past 24-hours, lots of people have been playing around with the new BCH features. Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features Experimenting With the New Bitcoin Cash OP_Codes Lots of BCH community members have been discussing the
Please share if you find this article interesting. Blockchain For Elections: Advantages, Cases, Challenges The list of potential uses for blockchain technology span many different sectors with the belief being that almost every facet of life, from finance, technology, economics and sociology, can be disrupted by this decentralized force. However, it is in politics, and especially elections where there is a buzz building about the positive influence blockchain technology can bring to the ballot boxes. Elections have been subject to scrutiny and corruption for so long that many in the tech space, as well as electoral committees are viewing blockchain as the future of fair elections. There have been some use-cases already where blockchain has come to the aid of elections. Different ...