Blockchain & crypto news from India
In recent findings, on-chain data revealed that the amount of active Bitcoin addresses has hit a historic low not seen since November 2010. Throughout June, the weekly active wallet ratio experienced a decline, hitting a low of 1.22% and peaking at 1.32%. Notably, the highest ratio for the month was last recorded in November 2010….
During an interview with Cointelegraph at the Bitcoin-only conference, BTC Prague, Tether CEO Paolo Ardoino highlighted the unique nature of Bitcoin among the vast array of cryptocurrencies. Ardoino emphasized the distinctive decentralized nature of Bitcoin that distinguishes it from over 14,000 other cryptocurrencies, making it the only currency that operates without central control. “Bitcoin stands…
Bitcoin mining difficulty has recently undergone another adjustment, hitting a new all-time high of 86.4 trillion, according to data from BTC.com. Bitcoin mining difficulty refers to the level of computational difficulty that is required in order to mine a new block of Bitcoin transactions. This difficulty level is adjusted every two weeks to ensure that…
The Bitcoin halving is an event that occurs every four years, where the reward for mining new Bitcoin blocks is cut in half. This means that miners receive fewer Bitcoin for their efforts, and the total number of Bitcoin that can be mined is limited to 21 million. The halving is a crucial aspect of…
Popular social media website Reddit has revealed using its excess cash as Bitcoin and Ethereum, seeing their potential significance. Reddit announced in its initial public offering filing with the US Securities and Exchange Commission that it had invested some of its surplus cash reserves in Bitcoin and Ether on Feb 22. Reddit has also been…
After the Bitcoin halving, up to 20% of the current hash rate for Bitcoin could go offline. The block rewards will be cut in half, causing only the most efficient mining rigs to remain. The eight ASIC miner models have eradicated nearly 70% Bitcoin hash rate, as per the latest Galaxy analyst mining reports. According…
The Bitcoin mining difficulty level has recently surpassed 80 trillion. The mining difficulty level is an estimate of the difficulty of solving the cryptography level in the mining process. The hash rate of the Bitcoin network, which is a measure of the total computational power used by miners, has recently reached 562.81 exahashes per second…
There’s new speculation going around the collaboration between the Hong Kong data centre and the Ethiopian government. This collaboration is taking a turn towards Bitcoin mining and other related activities. A memorandum of understanding has been signed between Data Centre Service, a Hong Kong West data subsidiary and Ethiopian Investment Holdings. Ethiopia and West Data…
Two major events this week have set new expectations in the otherwise lacklustre cryptocurrency industry hit hard by scams and hacking. The Ethereum chain had moved earlier to the eco-friendly PoS system for validating transactions, but the validators cold not withdraw their staked Ether. The recent Shanghai upgrade now allows them to do so. In…
The private keys are confidential stings of text to access a cryptocurrency wallet. Until now, losing private keys meant losing access to one’s Ethereum account and its funds. A new tool called “Account Abstraction” has been launched by Ethereum that will allow an owner to recover their ETH in the absence of private keys. Referred…