Mining

A popular blockchain security company finally revealed who was the sender of last week’s Ethereum transactions with abnormally high fees.Reportedly, it’s a small South Korean cryptocurrency exchange that pays little to no attention to its security protocols.The BackstoryLast week, CryptoPotato reported on two transactions with abnormally high fees that took place on Ethereum’s network. Both of them were sent out from the same address. The first carried 0.55 ETH and paid a fee of 10,668 ETH,...

The Jakarta Metro Police have arrested US national Russ Albert Medlin, considered to be the unofficial owner of the large cryptocurrency Ponzi scheme BitClub Network. The police acted after receiving a tip that Medlin has been involved in a child prostitution ring.BitClub Network Owner Arrested In IndonesiaThe Jakarta Metro Police’s Cyber Crimes Directorate captured Medlin in Kebayoran Baru, South Jakarta, on Sunday, a report informed. On the day of the arrest, police officers intercepted and...

The Republic of Kazakhstan continues to maintain its bullish stand on cryptocurrencies and crypto mining operations. The central Asian country is planning to attract millions of dollars of investments to its domestic crypto industry within the next three years, local media reported Tuesday.Askar Zhumagaliyev, Kazakhstan’s Digital Development, Innovation, and Aerospace Industry Minister, made this known while addressing the Senate in a June 11 plenary session.Crypto And Mining Are Part Of...

The mining pool, which processed a mysterious Ethereum transfer carrying a needlessly excessive $2.6 million transaction fee, has announced it will distribute the millions among its miners.Bitfly, which operates the Ethermine mining pool, announced the decision on Monday, stating that four days is long enough for someone to have come to claim it.Miners Will Keep $2.6 Million Ethereum FeeAs announced by BitFly via Twitter on June 15:As the sender of the transaction https://t.co/h21A2Th4fw has...

No doubt bitcoin has been moving through hoops and tunnels since the coronavirus took hold of the global economy, but thanks to companies like Grayscale, it doesn’t look like the currency is about to lose its steam anytime soon.Grayscale Is One of Many Companies Supporting BTCBack in March, the currency saw its price fall into the mid-$5,000 range. This was after it had spent the whole previous month trading for well over $10,000, a price the currency hadn’t seen in roughly half a year. From...

Despite a particularly shaky month, new research suggests that bitcoin miners pulled in a hefty amount of revenue in May – the month of the highly-anticipated third halving.The Halving Didn’t Affect Bitcoin Earnings MuchMay really had everyone up in arms over the halving. The event had people excited just as much as it had them worried. Crypto analysts went back and forth about what would happen following the halving. Crypto would go up very quickly; it would come down with a thundering...

Chinese national college exams have reportedly included questions about cryptocurrencies in one of the test papers. About ten thousand applicants have to answer a question concerning Bitcoin mining in July this year.“Why Bitcoin Miners Would Cluster In The Province Of Sichuan?”As announced, the question looks for an analysis of the economic geography in Sichuan province and how it reflects on the Bitcoin mining industry in the region. This year’s national college tests’ edition, known as...

Six years on from the publication of its original whitepaper, Filecoin (FIL) has launched an incentivized testnet designed to test the network in realistic conditions.Aiming to build a decentralized file storage network, Filecoin carried out a $250 million ICO in 2017 – the largest Initial Coin Offering at the time. It was also the first ICO to be launched with the approval of the Securities and Exchange Commission (SEC), under a SAFT agreement – Simple Agreement for Future Tokens.According...

The Bitcoin hash rate appears to be migrating west after the percentage of BTC mining taking place in the United States increased by 78%, leading into 2020.That’s according to the latest data from the Cambridge Center for Alternative Finance (CCAF), presented in a report by TokenInsight, which shows the US-based Bitcoin hash rate rose from 4.06% to 7.24% between September of 2019 and April of 2020.US-Based Bitcoin Hash Rate Climbs 78%While that moved the US into second place in CCAFs global...

Blockchain-based renewable energy startup SunExchange has raised $3 million in a recent funding round to expand its services. The funding highlights the increasing demand in South Africa and the region for solar power and alternative investment options.SunExchange Raises $3MThe announcement from Reuters calculated that the South African-based blockchain company had increased the total amount it has raised in Series A funding rounds since 2019 to $4 million. The latest funding for $3 million...