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Bitcoin Hashrate, SegWit Transactions Continue to Reach All-Time Highs

Bitcoin miners are reeling out a higher hashrate than ever as new hardware comes online, and SegWit is keeping pace — cresting 50 percent of network activity over the weekend. The network’s hashrate has continued its steady upward climb, and according to various data sources, is hovering just below 100 exahashes per second (that means that, every second, about 100 quintillion guesses are made to find the next block in the chain). As hashrate rises, difficulty is following closely behind at 11.89 T, and BTC.com expects it to jump to 13.18 T by the next adjustment. Source: bitinfocharts.com The network’s mining activity has been on a tear this year, more than doubling since bitcoin entered 2019 at a gut-wrenching $3,000 price point. This high-flying hashrate follows surging demand in the mining market for new top-of-the-line hardware, and according to a report from Chinese blockchain analytics firm TokenInsight, the rise in bitcoin’s price has allowed the miners to pay themselves back in nearly half of the time. Source: BTC.com “The prices of popular mining hardware dramatically increased during the second quarter and the demand of mining hardware exceeded total supply. As the mining costs increased, miners’ payback cycles were shortened in the second quarter than the previous quarter,” the report reads. Mining companies scrambled to release more efficient and powerful machines “based on the latest market trends such as the insufficient supply of mining hardware and an increased demand on computing power,” TokenInsight wrote. These next generation ASICs include Innosilicon’s T3 43 T and T3 +57T, the Whatsminer M20S, Ebang Ebit E11 and Bitmain’s Antminer S17. As more powerful miners pump the network with hashpower, older models are being flushed out. In the second quarter of 2019, “some of the popular mining hardware with low and medium computing power were withdrawn from the market, citing product iteration or unshelving as reasons,” the report reads. If difficulty continues to increase above a 3 percent average per adjustment (and TokenInsight thinks it will, as Q2 saw an average of over 4 percent), the low-end miners will have trouble recouping investment. If it rises above 5 percent, then even the heavyweights are in trouble. “According to the table above, when the computing power increases by 4% on average, nearly half of the mainstream mining machines cannot realize the payback from investment; when the computing power increases by 5%, most mining machines cannot realize the payback from investment,” according to TokenInsight. Also Rising: SegWit Transactions While miners plug away at an ever-rising hashrate, SegWit is gaining further traction on the network’s transaction landscape. SegWit transactions as a percentage of total network spends reached a new all-time high on September 15, 2019, eclipsing 50 percent, according to transactionfee.info. Like the Bitcoin hashrate, SegWit spends as a share of all network transactions have been on a steady uptick since 2018.  This jump in activity comes after a stagnant 2019 during which the fee-saving protocol has averaged roughly a 40 percent share of the network’s spending, after nearly doubling year over year from 2018 to 2019. While many popular wallets and exchanges have implemented SegWit, other outliers, like Binance, BitMex, Bittrex, Blockchain.com and BitPay, have resisted updating their software to accommodate the upgrade. The post Bitcoin Hashrate, SegWit Transactions Continue to Reach All-Time Highs appeared first on Bitcoin Magazine.
Bitcoin Magazine

Bitcoin’s Hashrate Reaches 100 Quintillion

The computing power of bitcoin miners stands now at an incredible 100 quintillion a second, with a quintillion coming after a trillion and a quadrillion. Just a month after it... The post Bitcoin’s Hashrate Reaches 100 Quintillion appeared first on Trustnodes.
Trustnodes

Litecoin Hashrate Drops to 40%, Is the Recent Reward Halving Responsible?

Litecoin hashrate has dropped to 40%, implying miners are leaving the network. The reason for the same is likely to be the halving of the block reward on the 5th of August.  LTC Lost 30% of its Mining Power in August The month of August saw hashrate on the network dropping from 523 TH/s to a low 295 H/s. Further, the network lost 30% of its mining power in August. While LTC continues to maintain its position among leading altcoins, due to high liquidity and its good performance this year, the drastic drop in hashrate is not good news for the crypto asset.  On August 5, the block reward fell from 25 LTC to 12.5 LTC. It caused a spike in the price and it reached $140 only to plummet to $69.22 soon after.    Source- CoinMarketCap Per a recent tweet by leading rating provider, Weiss Crypto Ratings, halving could leave Litecoin vulnerable to attacks, further, explaining that halving might not necessarily lead to a price increase but can, unfortunately, lead to miners leaving the network.    Source-Twitter With that being said, a twitter user with the handle “Nick Rodriguez” said that this move will make way for efficient miners and it will serve a good purpose in the long run.  Source-Twitter While another crypto user with handle” logart” said that while halving had its perils, it does not imply that the prices will never recover.    Source-Twitter Negative Attitude Towards Altcoins  Notwithstanding, the drop in price and the vulnerable position that the platform is in after halving, a negative attitude towards altcoins is also a key factor for a weak LTC market price. Furthermore, the crypto was a victim was of “dusting attack” on the 10th of August, just 5 days after the Litecoin underwent reward halving. In such a hacking attempt, the hacker sends a small/tiny amount of cryptocurrency to user’s personal wallets and then tries to track the transactional activity of each of the addresses.  Mining Litecoin is also not as profitable as the obsolete L3 miner no longer serves the purpose and provides no competitive edge for block discovery. Also, 12.5 LTC per block is too small an amount for miners to continue their mining operations, keeping in mind the electricity costs incurred in mining.  Previously, Litecoin gained infamy for its lack of innovative practices and it seems the coin has yet again reached a stagnation stage after a year or more of active innovations and publicity.  While achievements such as atomic swaps and Litecoin Lightning Network did create a hype, in the present case scenario they are not helping Litecoin. Will Litecoin bounce back or will it fail to recover? Let us know your views! The post Litecoin Hashrate Drops to 40%, Is the Recent Reward Halving Responsible? appeared first on Coingape.
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IOTA Introduces Permanode Tech For Long-Term Data-Storage

The IOTA Foundation is taking a major step towards ensuring permanency in the Tangle, announcing a “Permanode” technology called Chronicle. IOTA is designed as a protocol for the permissionless and frictionless exchange of value between machines and humans, with the Tangle acting as a distributed ledger. Using the new permanode technology, users will be able to securely store data, where it will be  “verifiable to third parties for free.”   While some data doesn’t need to be stored for years, decades, or lifetimes, certain sorts of data require greater permanence. “For example,” the IOTA blog explains, “financial data must be stored for 10 years in some cases, and identity data needs to be kept for the lifetime of the identity.”  The IOTA Foundation describes the new permanode technology as a “crucial building block” for enabling these types of use-cases. The Foundation describes Chronicle as the “official permanode solution,” enabling easy access to the Tangle’s entire history, which is stored indefinitely via the technology.  The system is described as a “distributed fault-tolerant permanode that scales out and up…”     source: IOTA Foundation   Chronicle has some unique and interesting use-cases for community members and businesses, such as offering “query as a service.” Node owners might find a new stream of revenue charging IOTA tokens to access Tangle data. Further services could be added through “Multiplex networks,” offering “microservices… that can communicate with public and private dataset(s) under different policies.”  Chronicle is due for a third-party audit to ensure it is ‘water-tight’ before it is released to the public. The IOTA Foundation invites community members to take part in the work, with grants available for “developing and expanding the notion of permanodes.”   source: CoinMarketCap   IOTA joined the altcoin surge today, enjoying a healthy bump of more than 14% in value against USD and BTC over the past 24 hours. The token has enjoyed a positive week, with over 10% growth in USD price over the past seven days.   The post IOTA Introduces Permanode Tech For Long-Term Data-Storage appeared first on Crypto Briefing.
CryptoBriefing

HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Altcoin Buzz

Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
Benzinga

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
Benzinga

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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