Connect with us

Coindesk

Ethereum Classic Activates Thanos Upgrade, Increasing Access for GPU Miners

Ethereum Classic (ETC) has undergone a hard fork that ushers in a new upgrade aimed to increase miner participation and increase security….

Published

on

Nov 30, 2020 at 9:55 a.m. UTCUpdated Nov 30, 2020 at 10:34 a.m. UTC

A cosplayer dressed as Thanos attends New York Comic Con 2019.( Dia Dipasupil/Getty images)

Ethereum Classic Activates Thanos Upgrade, Increasing Access for GPU Miners

Ethereum Classic (ETC) has undergone a hard fork that ushers in a new upgrade aimed to increase miner participation and increase security.

According to the ETC explorer by Blockscout, at around 3:45 UTC on Sunday, the ETC mainnet reached a block height of 11,700,000, automatically triggering the anticipated Thanos upgrade.

Terry Culver, CEO at ETCLabs, told CoinDesk Thanos is an “important milestone” as the network moves to improve support for existing miners and draw in new ones.

Specifically, the Thanos (ECIP-1099) protocol upgrade will bring the size of the DAG (Directed Acyclic Graph) file well below 4GB, meaning 3GB and 4GB graphics processing units (GPUs) can once more mine the network.

It also doubled the duration of ETC’s mining period, or epoch, from 30,000 to 60,000 blocks, slowing the size increase of the DAG (which grows with every epoch). With the implementation, 4GB GPUs will remain supported for an additional three years, according to an ETC blog post.

The upgrade will allow miners with 3GB and 4GB GPU systems to resume mining ETC, “ultimately increasing network security and promoting a more distributed and healthy mining ecosystem,” said Culver.

Before the upgrade, the DAG size was already very close to 4GB, forcing some older GPU mining cards off the network. The Thanos upgrade effectively reduced the DAG size from 3.94GB to 2.47GB, per the post.

Over 90% of existing miners have migrated over to the Thanos fork, according to Culver. Further, as new miners have come online, the network’s hashrate has also seen a notable rise.

ETC has seen a number of so-called 51% attacks, and has been endeavoring to put in measures to make the network more resilient. One such initiative called MESS (for Modified Exponential Subjective Scoring) is said to make massive blockchain “reorganizations” much more expensive to carry out (although its effectiveness has been questioned).

“MESS was the first step, which protects the network, miners, and exchanges,” said Culver.

With more miners being vital for creating a robust blockchain network, Culver argued the next phase of the security measures has now been successfully completed. “Thanos expands and strengthens the mining ecosystem,” he said.

Source: https://www.coindesk.com/ethereum-classic-hard-forked-thanos-upgrade

ethereum-classic-activates-thanos-upgrade,-increasing-access-for-gpu-miners

Coindesk

World’s Oldest Central Bank Extends Digital Currency Test Till 2022

Riksbank said it would continue developing a technical solution for a central bank-issued e-krona under its pilot project.

Published

on

Sweden’s Riksbank said it would continue work with Accenture on a potential e-krona digital currency until next year.

(Mario Ortiz/Shutterstock)

Feb 17, 2021 at 10:12 a.m. UTC

World’s Oldest Central Bank Extends Digital Currency Test Till 2022

The world’s oldest central bank, Sweden’s Riksbank, is to extend its pilot project for a potential central bank digital currency (CBDC) for another 12 months.

According to a press release on Friday, the project, which is being carried out with assistance from professional services firm Accenture, will run until February 2022.

The Riksbank said it would continue developing a technical solution for a central bank-issued e-krona “as a complement to cash,” with the primary objective being for the bank to increase its knowledge around the technology.

For 2021, the institution will continue developing its potential digital currency offering with a focus on performance and scalability. Testing offline functions and bringing external participants into the test environment is also on the table.

The project has raised some concerns from Sweden’s commercial banking sector over the viability of a sovereign CBDC and how that would impact the entire banking system.

There is no final decision over the issuance of the e-krona despite strong lobbying from the central bank to government last year. But with traditional cash seeing falling use, even more so during the coronavirus pandemic, Sweden has been mulling a switch to the CBDC.

However, questions still remain over the digital currency’s ultimate design and underlying technology, according to Friday’s release.

Source: https://www.coindesk.com/sweden-central-bank-digital-krona-extension

world's-oldest-central-bank-extends-digital-currency-test-till-2022

Continue Reading

Coindesk

Bitcoin Mining: Wasted Energy or a Better, Greener System?

Harry Sudock, VP of strategy at GRIID Infrastructure on the modern energy landscape, how far we’ve come and where bitcoin mining fits.

Published

on

Is it wasteful to use electricity mining bitcoin? As the Biden Administration settles into power with an ambitious agenda around clean energy, notably promising to eliminate carbon emissions from the US power generation sector by 2035, the question of bitcoin mining and it’s ever-growing use of energy bubbles up once more.

In this episode of ‘On Purpose, With Tyrone Ross,’ Harry Sudock, VP of strategy at GRIID Infrastructure joins the show to discuss the modern energy landscape, how far we’ve come and where bitcoin mining can fit into a sustainable energy system.

The greatest number of people living in poverty are children, we need to change that. If you can, get involved and give back to NoKidHungry.org. Love and Light. I appreciate you!

Other Episodes

Source: https://www.coindesk.com/podcasts/on-purpose-with-tyrone-ross/bitcoin-mining-harry-sudock

bitcoin-mining:-wasted-energy-or-a-better,-greener-system?

Continue Reading

Coindesk

Deutsche Bank Quietly Plans to Offer Crypto Custody, Prime Brokerage- CoinDesk

The bank’s game plan was hidden in plain sight in a widely overlooked report by the World Economic Forum.

Published

on

The bank’s game plan was hidden in plain sight in a widely overlooked report by the World Economic Forum.

Deutsche Bank headquarters in Frankfurt, Germany (Thomas Lohnes/Getty Images)

Feb 13, 2021 at 2:10 a.m. UTCUpdated Feb 13, 2021 at 2:18 a.m. UTC

Deutsche Bank Quietly Plans to Offer Crypto Custody, Prime Brokerage

Deutsche Bank has joined the growing ranks of large financial institutions exploring cryptocurrency custody, with aspirations to offer high-touch services to hedge funds that invest in the asset class.

The Deutsche Bank Digital Asset Custody prototype aims to develop “a fully integrated custody platform for institutional clients and their digital assets providing seamless connectivity to the broader cryptocurrency ecosystem,” according to a little-noticed report by the World Economic Forum, host of the annual gathering of muckety-mucks in Davos, Switzerland.

In a passage buried on page 23 of the December 2020 report, Germany’s largest bank says it plans to create a trading and token issuance platform, bridging digital assets with traditional banking services, and managing the array of digital assets and fiat holdings in one easy-to-use platform.

Big banks are now announcing plans to enter crypto custody on an almost daily basis, with Bank of New York Mellon, the world’s largest custodian bank, joining the party earlier this week.

U.S. banks were given some regulatory clarity thanks to last year’s interpretation letters from the Office of the Comptroller of the Currency. In Germany, firms are queuing up to get their hands on special crypto custody licenses from the country’s regulator, BaFIN.

Deutsche, the world’s 21st largest bank, said it aims to “ensure the safety and accessibility of assets for clients by offering an institutional-grade hot/cold storage solution with insurance-grade protection.” No specific cryptocurrencies or tokens are mentioned.

The digital asset custody platform would be launched in stages. It would eventually provide clients with the ability to buy and sell digital assets via a partnership with prime brokers (which act sort of like concierges for hedge funds), issuers and vetted exchanges.

The bank says it would also provide “value-added services such as taxation, valuation services and fund administration, lending, staking and voting, and provide an open-banking platform to allow onboarding of third-party providers.”

The service would be aimed at asset managers, wealth managers, family offices, corporates and digital funds, the bank said.

In terms of a business model, the bank would start out collecting custody fees, it said, later charging fees for tokenization and trading.

Deutsche said it has completed a proof of concept and is aiming for a minimum viable product in 2021, while exploring global client interest for a pilot initiative.

The bank’s press office could not be reached for comment Friday evening. A spokesperson had declined to comment on potential plans for a digital asset custody business when contacted last week by CoinDesk.

Source: https://www.coindesk.com/deutsche-bank-crypto-custody-prime-brokerage

deutsche-bank-quietly-plans-to-offer-crypto-custody,-prime-brokerage--coindesk

Continue Reading

Title

Entrepreneur3 hours ago

Penny Stocks To Buy For Under $1 On Robinhood

Are Penny Stocks Under $1 on Robinhood Worth It?

Crunchbase16 hours ago

C2i Genomics Secures $100M Note To Detect Tiny Traces of Cancer

C2i’s cancer diagnostics service uses AI pattern recognition and whole-genome analysis to spot trace amounts of cancer much quicker.

Blockchain news19 hours ago

Ethereum’s Upside Appears Limitless as ETH Breaches $2,400 For the First Time Ever

On-chain metrics provider Santiment has delved deeper into Ethereum’s uptrend and noted that its rally to $3k and beyond looks...

CNBC1 day ago

JPMorgan Chase beats profit estimates on strong trading, $5.2 billion release of loan-loss reserves

JPMorgan posted first-quarter profit of $4.50 a share, much higher than the $3.10 per share expected by analysts surveyed by...

CNBC2 days ago

Coinbase drops below debut price

Coinbase held its direct listing on the Nasdaq on Wednesday, luring public market investors who've been waiting to get into...

Ventureburn2 days ago

Joburg healthtech startup secures undisclosed seven-figure funding –

Quro Medical has secured an undisclosed seven-figure USD amount of funding in a seed round led by Enza Capital and...

ZDNET2 days ago

Is there a market for an Apple TV/HomePod Frankenstein?

Rumors are circulating that Apple is planning to take two devices that aren't selling all that well, and smash them...

Reuters2 days ago

Biden set to withdraw U.S. troops from Afghanistan by Sept. 11

President Joe Biden plans to withdraw the remaining 2,500 U.S. troops from Afghanistan by Sept. 11, 2021, 20 years to...

Business insider2 days ago

Annual Report and Sustainability Report 2021: New Wave Group AB

KUNGÄLV, Sweden, April 14, 2021 /PRNewswire/ -- New Wave Group AB today published the Annual Report and Sustainability Report for...

CNBC3 days ago

States rush to replace J&J vaccine appointments after FDA recommends pause

The FDA and CDC recommended a pause in the use of J&J's vaccine after six women developed a rare blood...

Review

    Select language

    Trending