Publicly Traded Firms Launch New Mining Rigs, Less Hashrate Than Competitors

Two of the top mining manufacturers from China that recently had initial public offerings (IPO) released two new mining rigs. Canaan Inc. and Ebang Communications both have shares listed on the Nasdaq stock exchange, and the two firms just launched two ASIC mining devices with hashrates up to 63 terahash per second (TH/s). The two Chinese ASIC mining rig manufacturers Ebang and Canaan have recently released some new bitcoin mining devices. Canaan has launched the Avalonminer 1146 Pro (63TH/s), while Ebang has released the E12+ (50TH/s). Interestingly, both firms are…

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Travel Management Company CWT Pays $4.5M Bitcoin to Hackers

Ransomware hackers initially demanded $10 million to restore access to travel firm CWT’s computers and delete any stolen data. U.S.-based corporate travel firm CWT paid $4.5 million in a Bitcoin ransom to hackers who stole sensitive files from the company. According to a July 31 report from Reuters, representatives from CWT (formerly Carlson Wagonlit Travel) paid ransomware hackers 414 Bitcoin (BTC) on July 27 — roughly $4.5 million at the time — over two transactions. Blockchain data shows the criminals transferred the funds to a different address within an hour.…

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New 2020 Bitcoin Price High at $12,000 Proves Bulls Remain in Control

Bitcoin price rallied through a key resistance zone and secured a new 2020 high at $12,000. After securing a strong daily close, Bitcoin (BTC) price continued to press higher by cruising to $12,000 within the last hour. Crypto market daily price chart. Source: Coin360 Breaking through the $11,500-$11,800 range was the bulls most significant achievement of the last week and a number of analysts have noted that above the $12,000 level there is little overhead resistance. This has led some traders to forecast a swift move to the $14,000-$15,000 level.…

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Triple-Entry Bookkeeping: How Satoshi Nakamoto Solved the Byzantine Generals’ Problem

In 2008, Satoshi Nakamoto essentially solved the infamous computational issue called the “Byzantine generals’ problem” or the “Byzantine Fault.” Throughout the history of man, people used ledgers to record economic transactions and property ownership. A ledger is often referred to as the “principal book,” and entries can be recorded in stone, parchment, wood, metal, and with software as well. Ledgers were used for centuries, but the shared ledger system became really popular in 1538 when the church kept records. In Mesopotamia, which was about 5,000 years ago, scientists discovered Mesopotamians…

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A General Strategy on How to Select a Crypto Fund, Part 1

A basic framework of useful metrics to assess the true risk of a crypto fund as a quantitative screening tool. Digital assets, as a new asset class, exhibit interesting characteristics that could benefit a diversified portfolio of traditional assets. There are, however, many ways to get exposed to digital assets — passive investment, actively managed, short or long term investing, etc. — and with over 800 funds of all sizes, ranging from passive index to active trading funds to venture capital funds and fund of funds, it can be hard…

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Decentralized Energy is Key to a DeFi Future

Decentralized finance should include decentralized energy as it uses DApps and blockchain and has the same logic, says Lition. Decentralized Energy (DeEn) leverage DApps and smart contracts on Ethereum to conduct transactions and trade energy assets. In a paper released July 31, Lition, a Berlin-based sustainable tech startup that has launched a blockchain-based marketplace allowing consumers to choose between multiple energy providers, DeEn has the same “structure, advantages, and logic” as DeFi, or Decentralized Finance. DeFi should include DeEn Similar to DeFi where trades of digital assets are peer to…

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Ethereum’s Compound (COMP) Slides to Multi-Month Low Despite DeFi Explosion

While Bitcoin and Ethereum have seen notable bounces since imploding on Saturday evening, Compound and other altcoins are underperforming. The Ethereum-based coin is down 7.5% in the past 24 hours as per data from Coin Market Cap. This comes in spite of the fact that decentralized finance (DeFi), which Compound is a market leader in, has seen strong adoption. Altcoins could see further losses against Bitcoin and the dollar if the market leaders continue to undergo bouts of volatility. Compound Slides Lower In Spite of DeFi Strength The Ethereum-based Compound…

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Why Analysts Expect Ethereum to See Further Downside Following Intense Selloff

Ethereum witnessed some intense overnight volatility that caused its price to slide as low as $300 This intense selling pressure came about in tandem with that witnessed by Bitcoin – which caused its price to slide down to lows of $11,000 Analysts are now noting that ETH may be positioned to see further downside due to the strength of this movement Although it has found some support and stability within the mid-$300 region, weakness against its BTC trading pair may also drag it lower Ethereum and the entire cryptocurrency market…

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$500M Liquidated: Bitcoin Slides to Crucial Level Following Overnight Volatility

Bitcoin bore witness to some intense overnight volatility that came about after it hit highs of $12,000 From this point, the cryptocurrency decline to lows of $11,000 before finding some strong support Despite buyers protecting this level, its inability to post any type of strong bounce here does seem to be a negative sign for the cryptocurrency The sharp cliff formed as a result of the overnight selloff also led to massive liquidations amongst buyers Despite the blow this struck to BTC’s market structure, some analysts remain bullish, noting that…

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3 Reasons Why Ethereum Price Rallied 75% to Hit a 2-Year High at $400

Ethereum price hit a 2-year high today and 3 factors suggest the altcoin could rally even higher. In the last two weeks, Ether (ETH) price increased by 75% as the price rallied from $222 to $400. Many investors believe Ether’s momentum is buoying the entire market, and possibly even pushing Bitcoin (BTC) upwards. ETH-USD daily chart. Source: TradingView.com Three factors that appear to be triggering the strong Ether rally are: DeFi, ETH 2.0, and the current prolonged rally taking place in the altcoin market. DeFi growth is pumping altcoins but…

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