x
Image Source: Pixabay
An In-Depth Analysis of 7 Advanced Bitcoin Miners From Bitmain, Canaan, and Microbt
Recently, the top three bitcoin mining rig manufacturers unveiled a group of next-generation products with efficiency ratings of less than 20 joules per terahash (J/T) and powerful hashrates. In total, Bitmain, Canaan, and Microbt released seven new devices. The following provides a look at the machines’ current profitability using prevailing BTC exchange rates.
A Look at the Current Estimated Profits of the Latest Bitcoin Mining Machines:
Three of the world’s largest bitcoin mining machine producers have recently released new products, and these machines will likely benefit BTC’s total hashrate. Bitcoin’s price is hovering above the $34,000 range, and the current hash price in terms of a terahash per second on a daily basis equates to $0.0736. This means that under current market conditions, all seven miners announced by Microbt, Bitmain, and Canaan are profitable if a miner is paying $0.07 per kilowatt-hour (kWh). Read More
Ethereum Devnet 10 Testing Paves Way Towards Mainnet
On October 26, 2023, Ethereum protocol developers convened to discuss the recent results of devnet 10 testing. Initially, an update was presented by @parithosh_j and @BarnabasBusa regarding the successful launch of the network earlier in the week, according to Tim Beiko. The new validator churn limit was tested by activating Dencun, transitioning from 5 to 4 validators per epoch at the fork. A few bugs were identified related to sync with Prysm and deposit handling on Teku, which are currently being addressed. Additionally, some issues concerning builder-produced blocks were highlighted.
The testing of devnet 10 was executed in two phases. The first phase, which involved normal network conditions, exhibited a stable network able to handle approximately three blobs per block while mimicking real network usage. Every client combination could create blocks with blobs, some of which were run on ARM hardware. The second phase was a stress-test where the network was spammed to the extent that blocks had six blobs as often as possible. Although CPU and RAM usage on some clients increased noticeably alongside bandwidth usage spikes, the network maintained its stability, with only two out of around 100 nodes struggling to stay in sync. Read More
Impersonation scams in crypto, explained
In impersonation scams, fraudsters pretend to be reliable individuals, exchanges or services to trick users into sending cryptocurrencies or disclosing personal information.
In the context of cryptocurrencies, due to the pseudonymous nature of cryptocurrency transactions and the level of relative secrecy they provide, impersonation scams are common. So, how do impersonation scams work in crypto?
In the crypto world, impersonation frauds often take place in stages. Scammers sometimes impersonate famous people, influential people or trustworthy cryptocurrency platforms while creating their false online identities. Through these phony profiles, they interact with potential victims and win their trust by using convincing language or bogus credentials.
Under the pretence of investment opportunities or freebies, they ask victims to contribute cryptocurrency or share personal information in order to carry out the fraud. Once the victims comply, the con artists take the money or the data and vanish. Read More
UK risks regulating NFTs the wrong way, says Mintable CEO
“It’s not just a piece of artwork”: Mintable CEO Zach Burks argues that the United Kingdom government still hasn’t caught up on what NFTs are becoming.
The United Kingdom’s government is in danger of regulating nonfungible tokens (NFTs) in a way that doesn’t suit the true nature of the nascent technology, says Mintable CEO and founder Zach Burks.
In an interview with Cointelegraph, Burks said he believes a recent report from a U.K. parliamentary committee significantly exaggerates the role NFTs play in copyright infringement and fails to recognize that they are more than just volatile digital pictures.
“NFTs are in a transition phase where they’re moving away from the speculative boom of PFPs, and now it’s going into utilities of brands implementing NFTs across a whole range of different things,” Burks explained.
In the Oct. 11 report, the Culture, Media and Sport Committee urged the government to take action to protect artists and content creators from copyright infringement associated with NFTs. Read More
A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society.
Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check.
Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks.
Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More
Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.
Elon Musk Unveils Plan to Turn X Into 'Powerful' Financial Platform — 'You Won't Need a Bank Account'
Billionaire Elon Musk has revealed that he is turning his social media platform X, formerly Twitter, into an all-encompassing financial platform. “When I say payments, I actually mean someone’s entire financial life … If it involves money. It’ll be on our platform,” he claimed, emphasizing: “You won’t need a bank account.”
Elon Musk’s Plan for X:
Elon Musk, CEO of Tesla and Spacex and owner of social media platform X (formerly Twitter), revealed to X employees in an all-hands call on Thursday that he is transforming X into a financial hub for users, The Verge reported, citing an audio recording of the meeting it had obtained.
Noting that he expects financial and payment features to launch on X by the end of 2024, Musk claimed that people will be surprised with “just how powerful it is.” The billionaire described:
When I say payments, I actually mean someone’s entire financial life … If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account. Read More
What are open-source protocols, and how do they work?
Open-source protocols have become a mainstay in the tech world and are gaining traction due to the myriad benefits that they offer over their proprietary counterparts.
The protocols are typically created with the intention of being used by the public, enabling anyone to examine, alter and share their code. The benefits of open-source protocols are multifaceted, ranging from their inherent transparency to their wider accessibility.
Additionally, they rely on peer evaluations, a cost-effective and inclusive model that distinguishes them from their proprietary counterparts. Prominent examples of open-source software include widely used operating systems such as Linux and Android, and the popular Firefox web browser.
When it comes to open-source cryptographic protocols, the Bitcoin, Ethereum, Cardano and Polkadot networks stand out as noteworthy blockchain protocol exemplars, among others. Read More
How Web3-powered streaming platform connects viewers and creators
For too long, streaming has been a one-way street. But now, fans have a chance to unlock exclusive perks whenever they watch their favourite content.
A Web3-powered streaming platform, Replay vows to transform the entertainment industry — empowering viewers and creators alike. It allows audiences to be rewarded for their attention, all while unlocking new revenue streams for talented individuals behind the camera.
The entertainment world has changed dramatically in recent years, but some things remain the same. Revenue continues to be a one-way street — with consumers buying subscriptions or downloads for the content they want to see.
And it’s a huge market — with the typical American watching TV for about three hours a day. This is the ultimate definition of passive consumption, with viewers getting nothing in return for the time investment they’re making. Likewise, for entertainment brands, interaction with their audience ends when the stream does: media brands have no actionable way to invite their fans to get more involved in the projects they love.
It doesn’t have to be this way. Digital collectibles are a thrilling new form of engagement that can deliver added value to audiences.... Read More
Blockchain congestion and transaction queues actually deter ‘nefarious actors’: Study
According to the study, a blockchain’s “fullness” is directly related to its security.
Researchers from Florida Atlantic University and the University of Mississippi recently published research indicating that blockchains with “full” blocks — especially when there’s a transaction queue — appear to have an added layer of protection against nefarious actors, money launderers and would-be fraudsters.
Dubbed “Bitcoin Blocksize, Custodial Security, and Price,” the team’s paper takes a deep dive into the Mt. Gox crash and other instances where cryptocurrency has been stolen from crypto exchanges.
The study’s premise lies in the notion that the perpetrators of illicit activity wish to complete laundering transactions as soon as possible.
Per the paper:
“This investigation is driven by the following intuition: the closer the blocksize is to the limit, the more likely the next transaction will be published on a later block and not the most current one. When these cybercriminals breach a crypto exchange, or ‘close’ a fraudulently operated one, they want to launder the stolen bitcoin quickly.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
