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Cryptocurrency mining: news of the week

5


During this week, cryptocurrency mining in general was the protagonist of events that made the news. The two main digital currencies, Bitcoin and Ethereum, were at the forefront of the news arena.

The constant development of Bitcoin mining and the trade of new S19 series equipment are just some of the epicenters that move the entire community related to the main cryptocurrency.

For its part, the Ethereum ETH 2.0 update is another of the high points that have generated news. Thousands of people on social networks are waiting for what may happen to the second largest cryptocurrency due to its market capitalization.

Cryptocurrency mining in context

The mining of the main cryptocurrency is the most dynamic in this virtual business. During the week, the Hash Rate continued to drop, although not to an extent that could be considered a massive disconnection of obsolete miners.

This may be related to the low price of electricity in China. It should be remembered that the rainy season in Sichuan will last for a few more months until October, approximately.

Another important fact in the field of Bitcoin mining is the increase in cryptocurrencies sent from miners to exchanges. Situation that could be influencing the price drop to $ 9,100 at the time of writing.

Likewise, the constant mining diaspora from China to the West continues to be witnessed. United States companies dedicated to cryptocurrency mining and Blockchain in general, are making massive purchases of state-of-the-art equipment.

In this way, the power of hashing with modern equipment is causing Bitcoin mining to be progressively decentralized. Although China continues to occupy the first place in this field by far, the trend decreases in that nation, while in the United States, it continues to increase.

Among the news about cryptocurrency mining, those of Bitcoin stand out for their magnitude, whose Hash Rate stands at 115.2TH / s. Source: Blockchain.com

Ethereum 2.0 Update

Another of the most talked about aspects in the world of cryptocurrency mining is the Ethereum update. This week, the first Altona multi-level Tesnet was announced, which will start working in a few days.

It should be taken into account that, as has been commented, the ETH 2.0 update will take effect at the end of this year 2020. In this way, Ethereum mining will enter a terminal phase as we know it until now.

This is because ETH extraction will now be done using the Proof-of-Stake (PoS) protocol instead of Proof-of-Work (PoW). However, network programmers ensure that both systems will be kept in parallel for a time.

This is the week’s top cryptocurrency mining news

  • Ebang debuted this Friday on the New York Stock Exchange. It is the second firm related to cryptocurrency mining to be listed on Nasdaq.
  • Ethereum mining appeared more profitable than Bitcoin.
  • Ethereum announced the launch of the new Tesnet Altona, to test the network.
  • Core Scientific company announces massive purchase of ASIC from manufacturer Bitmain.
  • Ethereum developers explained the importance of achieving scalability with ETH 2.0.

Data to consider

  • The Hash Rate of the Bitcoin network is located on June 27 at 115.2EH / s.
  • China occupies 65% of the total hash power of cryptocurrency mining.
  • In less than 5 days, the Ethereum Tesona Altona will be launched.
  • US company Core Scientific announced the purchase of 17,595 state-of-the-art machines from Bitmain.

Reliable sources

The information in this content has been extracted from reliable sources detailed below:
* Professional handling of content by the authors of CryptoTendency.
* External sources: Corescientific.com, blogethereum.og, cbeci.org, Blockchain.com.



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