Category Archives: Cryptocurrency News

Galaxy Digital: “banks spend twice as much electricity as bitcoin”

According to Galaxy Digital researchers, the traditional banking system and the gold mining industry each separately consume twice as much electricity as the Bitcoin network. Specialists of the mining division of Galaxy Digital, owned by Michael Novogratz, published a report “On Energy Consumption by Bitcoin Miners: A Quantitative Approach to a Subjective Question.” According to their estimates, the annual electricity consumption for bitcoin mining is 113.89 TWh. This includes the energy consumed by miners, pools…

Cryptwerk: Monero is growing in popularity for payments

More than 950 merchants around the world accept confidential cryptocurrencies to pay for goods and services, despite growing interest in XMR from regulators. According to updated data from Cryptwerk – an online directory of companies, websites, stores and services that support payments for goods and services in cryptoassets – the adoption of XMR for payments is growing. According to CoinMarketCap, Monero is one of the most famous and popular cryptocurrencies, with a market cap close…

Ethereum Developers will postpone the activation of the “complexity bomb” until December

Ethereum developers have agreed to postpone the activation of the “difficulty bomb” scheduled for this summer until December, when the merger of ETH1 and ETH2 is to take place. At the end of last week, Ethereum developers agreed on how to delay the activation of the “difficulty bomb”, which, if left unchecked, will begin to slow down the network this summer. Difficulty Bomb is an old piece of code that makes Ethereum mining slower and…

Bahrain Central Bank and JPMorgan will test blockchain for international payments

The Central Bank of Bahrain announced a partnership with the American bank JPMorgan Chase and the Arab Banking Corporation BSC (Bank ABC) to test the blockchain for international settlements. The central bank of Bahrain has announced that a pilot project will be launched with these banks to implement a blockchain-based solution for instant cross-border payments. They will be carried out in US dollars between Bahrain and US buyers and suppliers. During testing, banks plan to…

Blockchain Wallet added support for Ledger wallets In Samsung

Samsung has added support for Ledger Nano hardware wallets to the Samsung Blockchain Wallet that ships with Galaxy smartphones. In 2019, the Samsung Galaxy S10 smartphone received a key store for cryptocurrency wallets. Samsung Blockchain Wallet supports BTC, ETH, TRX, as well as ERC-20 and TRC-20 tokens. The Decentralized Application Developer Kit (SDK) allows third parties to create applications, including services for paying for goods and services in cryptocurrencies, by scanning a merchant’s QR code.…

ETH Market Capitalization exceeded $ 500 billion

Ether capitalization exceeded $ 500 billion at a rate of $ 4370. This mark became the next historical maximum of the ether, but after reaching it, it immediately went into correction. Over the past day, ETH has grown by more than 6.4%, and over the past seven days it has shown an increase of about 30%. As a result of such a surge in the exchange rate, the capitalization of ether crossed the “round mark”,…

SEC warned investors about the risks of bitcoin derivatives

The US stock market regulator warns investors about the risks of buying bitcoin futures and funds. The SEC has called Bitcoin “an extremely high risk asset.” The agency has issued a warning to users trading bitcoin futures. The SEC called the first cryptocurrency a “highly speculative asset” and also urged users to carefully analyze the financial risks inherent in bitcoin futures contracts with settlements in fiat currency. Investors are encouraged to define a risk profile…

UBS Bank will provide clients with access to cryptocurrencies

The Swiss financial giant UBS Group plans to present tools for investing in cryptocurrencies, and also expressed its readiness to introduce blockchain into its business processes. Investment bank UBS began exploring options for providing its wealthy clients with the opportunity to invest in digital assets. The Bank is also considering the use of third party investment vehicles. Given the growing interest of investors in cryptoassets, UBS sees it necessary to respond to the situation in…

DFINITY project token entered the top ten leaders in terms of capitalization immediately after listing

The DFINITY project launched “Internet Computer” on May 8, a decentralized computing network. Immediately after listing on exchanges on May 10, ICP entered the top ten by market capitalization. The DFINITY developers wrote that the Internet Computer core uses a blockchain with unlimited bandwidth. Cryptographic protocols called “Chain Key Technology” solve the “blockchain trilemma” – that is, strike a balance between decentralization, security and scalability. The network is controlled by the Network Nervous System (NNS)…

Mike Novogratz urged exchanges to place satoshi instead of bitcoin for trading

Galaxy Digital CEO Michael Novogratz has suggested that cryptocurrency exchanges list satoshi instead of BTC to make this crypto asset more accessible. Novogratz tweeted this, mentioning the leaders of the marketplaces Binance, Coinbase, FTX and Gemini. He encouraged them to move on to listing satoshi, the smallest unit of bitcoin. Unlike pounds or dollars, which are 100 pennies or 100 cents, one bitcoin contains 100 million satoshi. At the current bitcoin price, the satoshi value…