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Is Proof-of-Work a Major Problem for Bitcoin’s Future?

Bitcoin is a very energy-inefficient project as of right now. The proof-of-work aspect has been discussed many times over. It seems community members are now advocating to change this algorithm altogether. With mining centralization becoming a real problem, such a change is not necessarily a bad thing. The Proof-of-Work SituationGenerating new Bitcoins requires dedicated hardware. This hardware is

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German Research Institute To Use Blockchain For Radio-Frequency ID Sensor Systems

The Fraunhofer Institute for Photonic Microsystems (IPMS), based in Dresden, Germany, intends to use Blockchain concepts for the development of wireless radio-frequency identification (RFID) sensor systems in the logistics sector, according to a Feb. 22 press release.The use of Blockchain solutions for the decentralized storage of data generated by RFID sensors could be made possible in this conte

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Mining Boom: Bitmain’s Profit Over $3 Billion According to Researchers

Beijing-based start-up Bitmain now dominates the Bitcoin mining industry. Last year it is estimated the company made as much money as chipmaker Nvidia did, according to estimates from researchers at Wall Street analyst Bernstein. Based on conservative estimates, the analysts calculate that Bitmain made $3 to $4 billion in operating profit last year. Bernstein’s U.S. semiconductor

Montana Scores $250 Million Bitcoin Mining Campus

Featured The Big Sky Country state of Montana keeps raking them in. For the second time this month, a mining operation is announcing its moving to the Butte area. Power Block Coin LLC is reportedly plunking down a quarter of a billion dollars to upgrade existing facilities to mine the world’s most popular cryptocurrency, bitcoin. Also read: Ho

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New Project to Tackle Crypto Energy Crisis by Generating Electricity Through Waste

As the cryptocurrency market expands, so too does the volume of energy required to maintain it. If the Bitcoin market alone continues to progress at its current rate, it will soon consume more energy annually than countries such as Peru. One potential solution to this issue is renewable energy; and that is where 4NEW hopes to come into play.Describing themselves as ‘world's first eco-f

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Bringing Renewable Energy to the World Using Blockchain Technology

Modern energy services are vital to human well-being and to a country’s economic development, yet according to the International Energy Agency (IEA), globally 1.2 billion people lack access to electricity. It’s thought that around 95 percent of these people are in either sub-Saharan Africa or developing Asia, with 80 percent in rural areas.Ethereum-based platform ImpactPPA is attempting to tur

Sharing Is Caring in the World of Crypto Pool Mining

The Bitcoin was not born in 2017 but it certainly hit the mainstream that year, irrespective whether the news that propelled the cryptocurrency to the front pages of newspapers was for the good reasons or not. The returns that the early adopters of the digital currency were able to achieve last year were truly astronomical, as the price surged past key technical levels only to falter just under $2

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Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

Power Block Coin, LLC’s proposal to invest $251 million to build a cryptocurrency mining farm in Montana Connections, a special tax district west of the city of Butte, has been given the green light.This Wednesday, Butte-Silver Bow Council of Commissioners voted unanimously (9-0) to allow Utah-based Power Block Coin, LLC — a subsidiary of Blue Castle Holdings Inc. — to build a campus of

Cryptosphere Veteran Sunny King Creates New Blockchain Database Platform

Sunny King, a well-known anonime figure in the crypto industry, has returned to lead a new project called VEE as their chief architect and bring a database platform for blockchain applications. The VEE team is currently on a promotional spree having visited Korea, Japan, Singapore, Hong Kong and will go over Europe in February. The 5th generation of BitcoinShort for Virtual Economy Era, VEE is an

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S&P Global Platts Launches Blockchain Network To Track Oil Data In UAE

S&P Global Platts, one of the leading independent providers of information for the commodities and energy markets, announced that it started the deployment of its Blockchain solution that “will allow market participants to submit weekly inventory oil storage data” to UAE’s Fujairah Oil Industry Zone (FOIZ) and the regulator FEDCom, according to a release published on Feb. 22According to

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