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Hut 8 Closes Bitcoin Mining Facility Due to Power Disruptions and Rising Energy Costs
7.3.2024
Hut 8, a Bitcoin mining company, has announced the closure of its mining site in Drumheller, Alberta, Canada, citing power disruptions and rising energy costs as significant factors.
The post Hut 8 Closes Bitcoin Mining Facility Due to Power Disruptions and Rising Energy Costs appeared first...
Breaking Down Dencun’s Potential to Slash Ethereum Costs
4.3.2024
Ethereum’s major upgrade, “Dencun” is scheduled to drop on March 13, and, according to developers, it will immediately decrease gas fees on layer 2s by 75%. A new technological feature called proto-danksharding, aka blobs, is driving this impressive added scale. Proto-danksharding...
Security Concerns and High Transaction Costs Top Obstacles to Mainstream Web3 Adoption: Report
22.2.2024
Web3 is ripe for mainstream adoption but there are still a few challenges that need to be addressed before onboarding next billion users onto the next generation of internet built on the blockchain technology, as per a recent survey report by Web3Auth.
The post Security Concerns and High...
51% Attacks on Bitcoin and Ethereum Networks Are Not Possible Due to Impractical Costs: Coin Metrics
16.2.2024
It is no longer viable for nation-states to destroy the Bitcoin (BTC) and Ethereum (ETH) networks through 51% attacks. According to the latest research from crypto intelligence firm Coin Metrics, the astronomical costs required to carry out such attacks make them impractical and unprofitable. A...
FOMC Likely to Keep Rates Unchanged in March After Hot Inflation Report
14.2.2024
Wall Street braced for a chilly reality as hotter-than-expected inflation data sent major indexes tumbling on Tuesday. The Labor Department report revealed US consumer prices surged in January, exceeding forecasts and fueled by rising shelter costs. This unexpected heatwave extinguished...
Cheap Energy Cost Fuels Chinese Bitcoin Miners Migration to Ethiopia
12.2.2024
Ethiopia has become a lucrative destination for Bitcoin miners with lower energy costs and friendly government policies driving the move. According to Bloomberg, Bitcoin miners from China and other countries are setting up shop in the East African country followed by energy deals with electricity...
Ethereum Developers Set March 13 as Target Date for Dencun Upgrade
8.2.2024
Ethereum developers have set a mainnet launch date for the Dencun upgrade, which will introduce several Ethereum Improvement Proposals (EIPs), including proto-danksharding, which is expected to drive down transaction costs on layer 2. During a bi-weekly coordinating call on Thursday, Ethereum...
Onchain Bitcoin Fees in 2024: A Closer Look at Transaction Costs and Delays
6.2.2024
Data gathered over the last 36 days reveals that the Bitcoin network’s average transfer fee has consistently exceeded the $3.68 mark, while costs for median-sized transactions have not dipped below the $1.67 threshold. As of Feb. 6, 2024, insights from Bitcoin’s transaction queue...
Star Citizen's 'Everything Pack' Costs $48,000
4.1.2024
Forever-in-development space sim Star Citizen might not be finished after over a decade of dev work and announcements, but it does already contain a lot of expensive ships you can buy and fly around in. And if you want all of those ships in one big DLC pack, Star Citizen has an option for you. Just...
India’s De-Dollarization Push Flounders as Oil Suppliers Cite Rupee Repatriation Concerns
28.12.2023
The Indian Oil Ministry recently acknowledged that the country’s push to pay for oil with rupees has failed because suppliers are not sure if they will be able to repatriate their funds. The decision is intended to help diminish India’s reliance on the U.S. dollar when settling...
US CPI Sees Slight Uptick in November, Fed Likely to Maintain High Rates
12.12.2023
In November, the U.S. Consumer Price Index (CPI), a principal measure of inflation, registered a modest rise of 0.1%, maintaining a consistent annual increase of 3.1%. This minor growth in prices reflects subtle economic shifts, with energy costs witnessing a marked reduction, in contrast to...
Nova Labs Releases Solana-based Unlimited Mobile Plan
6.12.2023
Source: Pixabay Nova Labs’ Helium Mobile service has launched a nationwide plan in the U.S. with unlimited data, text, and talk that costs $20 a month. In a blog post published Tuesday, Helium Mobile announced the launch of its unlimited mobile plan, which the company claims will be the “nation’s...
Netflix Director Gambles $4M Show’s Budget on Dogecoin, Makes $27M in Profits
23.11.2023
Source: Pexels Director Carl Erik Rinsch, known for “47 Ronin,” gambled portion of the $61.2 million budget received from Netflix for the sci-fi series “Conquest” on stocks and Dogecoin. Rinsch, 46, initially secured $44.3 million for his series, but as costs escalated,...
Nigeria’s Fintech Startup Paystack Cuts Workforce, 33 Employees to Depart
18.11.2023
The Nigerian fintech startup, Paystack, will be scaling down its operations outside Africa. In addition, Paystack will part ways with at least 33 employees based in Europe and the United Arab Emirates. Co-founder Shola Akinlade has promised to help affected employees secure new roles elsewhere....
OKX Collaborates with Polygon Labs to Launch Testnet of X1, A High-Performance zkEVM Layer-2 Network
14.11.2023
OKX partners with Polygon Labs to test new layer-2 network X1. Image by AndriiKoval, Adobe Stock. On Tuesday, the sixth largest cryptocurrency exchange OKX announced a partnership with blockchain platform Polygon Labs to launch a test network for X1, a new zkEVM layer-2 solution designed to improve...
Ethereum Transaction Fees Climb 219% in 3 Weeks as Onchain Crypto Transfers Become Pricier
12.11.2023
Over the last three weeks, the transaction costs for bitcoin (BTC) have climbed sharply, reaching a peak of $15 per transfer just three days ago. Similarly, the cost to transfer ethereum (ETH) has jumped significantly. In the span from October 22 to November 12, 2023, the average fee for ethereum...
Maximizing Efficiency in High Fee Environments: A Guide to Bitcoin UTXO Consolidation
10.11.2023
In an era where bitcoin transaction fees can soar unexpectedly, managing your unspent transaction outputs (UTXOs) is crucial for minimizing costs. Bitcoin users with multiple UTXOs can face hefty fees for future transactions, which depletes the value of their holdings over time. Understanding UTXO...
Circle Revamps Stablecoins USDC, EURC With Upgrade Focused on Gas and Security
10.11.2023
Circle has announced a new v2.2 upgrade for its usd coin and euro coin digital stablecoins. The changes aim to significantly reduce gas costs, enable new use cases, and bolster security. Circle Unveils 2.2 Upgrade for Stablecoin Suite Circle unveiled the latest upgrade in a blog post on Thursday...
OpenAI promises to fund legal costs for ChatGPT users sued over copyright
7.11.2023
OpenAI joins Google, Microsoft and others in legally backing their users if they face legal action over copyright infringement
Render Network Moves From Ethereum to Solana Blockchain in Major Win – Where Next for SOL?
2.11.2023
3D content rendering platform Render Network has relocated from the Ethereum blockchain to Solana in order to benefit from the latter’s high throughput and lower transaction costs. As per an update in a blog posted to Medium, the Render Foundation said that it had successfully implemented...