Bitcoin Halving 2020: The ‘Arms Race’ for Miner Efficiency Intensifies

Bitcoin Halving 2020: The 'Arms Race' for Miner Efficiency Intensifies

Apr 25, 2020 at 14:00 UTC

In lead-up to the next bitcoin halving event in May, some bitcoin miners are looking at leveraging what Moore and Carlson describe as “surplus energy” to make operations even more cost-effective.

In this episode of the Bitcoin Halving 2020: Miner Perspective podcast series, we take a trip down memory lane back to the early days of bitcoin when miners first began competing for network rewards. 

Dave Carlson, who participated as a bitcoin miner in the arms race for more advanced cryptocurrency mining machinery back in 2012 and 2013, admitted that at the time “the Chinese engineering firms and Chinese producers of this technology far surpassed our ability and speed to get something to market.” 

However, there was a turning point in 2015 and 2016 when mining operations in China started to subside and coalesce in other regions parts of the world such as North America. More efficient power production, Carlson said, was the primary motivation for this shift. 

Leading up to the next bitcoin halving event in May, some bitcoin miners are looking at leveraging what Moore and Carlson describe as “surplus energy” to make operations even more cost-effective. Surplus energy is the run-off, or waste fuel, released by natural gas and hydro power plants that can be repurposed to mine bitcoin for zero cost. This could be a major technological breakthrough for mining if proven to work at a large scale, Carlson said. 

For more information about the bitcoin halving, download the free CoinDesk Research explainer report, which features over 30 different charts and additional commentary from mining industry experts.

halving-report-wide-blue

Source: www.coindesk.com

Author: Omkar Godbole


Data shows Ethereum 2.0 is sparking accumulation; will it trigger a bull run?

Data shows Ethereum 2.0 is sparking accumulation; will it trigger a bull run?

Data shows Ethereum 2.0 is sparking accumulation; will it trigger a bull run?

Ethereum 2.0 has long been looked upon as an event that would help take the ETH blockchain to the next level, fixing the various scaling issues it has previously confronted while also shifting to an efficient proof-of-stake (PoS) consensus mechanism.

Naturally, the efficiency and scalability improvements will work to bolster the blockchain from a fundamental perspective, but in the near-term it is likely to be its transition to a Proof-of-Stake model that causes it to catch some upwards momentum.

This notion is supported by recent data that suggests investors are accumulating ETH in an effort to hit the minimum staking requirement once the transition is complete.

Ethereum has seen notable strength in recent times on multiple fronts, with the cryptocurrency’s price consistently outperforming Bitcoin during recent uptrends, while also reaching value transfer parity with Bitcoin.

The crypto’s positive price performance is inextricably tied to its fundamental growth and is also a signal that investors are taking notice.

One factor that has been driving this growth is the massive issuance of stablecoins on the blockchain, which has subsequently boosted the value of on-chain transfers — as recently reported by CryptoSlate.

Blockchain analytics firm Messari has previously spoken about Ethereum being a “winner” of the stablecoin boom, explaining that they now account for over 80 percent of daily transfer value on the blockchain.

“One winner in the growth of stablecoins appears to be Ethereum, which recently reached value transfer parity with Bitcoin. Stablecoins now account for 80% of daily transfer value on Ethereum as it has proven to be the issuance platform of choice for new stablecoins.”

This fundamental growth comes as the first official phase of Ethereum 2.0 fast approaches, with the transition being slated to occur at some point this year — although no official launch date has been announced at this time.

Data from research platform Glassnode shows that there has been a 14 percent uptick in the number of Ethereum wallet addresses holding over 32 ETH – the amount required to stake in order to receive rewards in ETH 2.0.

“How many potential ETH 2.0 validators exist? Currently, there are 116,351 Ethereum addresses that hold 32 ETH or more – up almost 14% within the last year.”

If more investors begin accumulating in hopes of staking their tokens in a validator order to receive rewards, this could catalyze some notable upwards momentum for the cryptocurrency in the months leading up to and following the launch of ETH 2.0.

Ethereum, currently ranked #2 by market cap, is up 3.05% over the past 24 hours. ETH has a market cap of $21.6B with a 24 hour volume of $17.99B.

Chart by CryptoCompare

Ethereum is up 3.05% over the past 24 hours.

Cover Photo by Ethan Hoover on Unsplash

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Cole is a freelance journalist and university student studying philosophy. He focuses primarily on covering cryptocurrency and blockchain-related news. He owns a non-life-changing sum of Bitcoin and enjoys day trading.

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Source: cryptoslate.com

Author: AuthorCole Petersen Twitter LinkedIn Journalist @ CryptoSlate


Bitcoin Prediction Machine, Ethereum Is Property, Bullish On Crypto & Binance Mining Pool

Bitcoin Prediction Machine, Ethereum Is Property, Bullish On Crypto & Binance Mining Pool

Опубликовано: 25 апр. 2020 г.

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Bitcoin Halving 2020: The 'Arms Race' for Miner Efficiency Intensifies

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