Understanding Bitcoin Cryptocurrencies and How Bitcoin Works a Comprehensive Explanation
Bitcoin, the first and most popular cryptocurrency, has become a significant part of the digital world. To truly understand how Bitcoin works, we need to dive into its history and the underlying technology that powers it. Bitcoin, created by the mysterious Satoshi Nakamoto in 2009, works on the prin ...
BIP-300 Biff: The Bitcoin Community Revives Debate Over Sidechains Proposal
BIP-300 Biff: A Renewed Debate Over the Longstanding Bitcoin Drivechain Proposal A vigorous discussion has been revived within the Bitcoin community concerning a six-year-old Bitcoin Improvement Proposal (BIP) named BIP-300. This proposal aims to introduce "sidechains" on the Bitcoin network, a c ...
Tether’s Venture into Bitcoin Mining in Uruguay: Challenges and Opportunities
Tether Holdings Inc., the company behind the leading stablecoin USDT, announced on March 30 their new enterprise with sustainable Bitcoin mining in Uruguay. Five months later, there was a new update on August 24 on what could be one of these new Bi ...
Noteworthy Solo Bitcoin Miner Successes and Pooled Efforts
Solo miner managed to mine a block on the Bitcoin network and get 6.25 BTC for it, which is roughly equal to $162000 at the current exchange rate. A CKPool mining pool user with the wallet address bc1q2za4ejga366sn288273pty8trasn5zs4y9hqg6 mined a block in the network ...
Bitcoin Ordinals Token Issuance Surpasses 10 Million, Boosting Network Transactions and Fees
According to Dune Analytics service, the number of issued tokens based on Bitcoin Ordinals in Bitcoin network exceeded 10 million. About 200,000 tokens are issued daily, including NFTs. The popularity of Bitcoin Ordinals has led to a significant increase in transactions a ...
MicroStrategy Chairman Michael Saylor Advocates Bitcoin as a Solution to Cybersecurity Threats and Fake Social Media Accounts
MicroStrategy Chairman Michael Saylor believes that the Bitcoin network can be an effective tool for preventing cybersecurity threats, namely the fight against fake social media accounts. In a recent interview with Kitco News, Michael Saylor touched on cybersecurity and the ...
Solo Miner Strikes Gold: Earns $170,000 Reward for Mining a Bitcoin Block
Solo miner with a processing power of 750 TH/s produced a block in the Bitcoin network under the number 790,958. The miner received a reward of 6.25 BTC (approximately $170,000) for the found block. The total hashing speed on the Bitcoin network on May 23 was 367.07 EH/s. ...
Bitcoin Network’s Hash Rate and Mining Difficulty on the Rise
The Bitcoin network's hash rate continues to grow, and with it, so does the difficulty of mining BTC. Whereas at the time of last recalculation the figure was down 1.45%, it is now up 3.22%, reaching 49.55 Tx. The recalculation of ...
Bitcoin Frogs NFT Collection Surpasses $2.3 Million in Trading Volume
Today trading volume for this position exceeded $2.3 million The Ordinals collection was the most popular on all platforms It consists of 10 thousand bitcoin frogs with various attributes The token threshold value is $3.7 thousand The Bitc ...
Lightning Labs Releases Taproot Assets Protocol v0.2: Enhancing Bitcoin Transaction Efficiency
Lightning Labs, developer of Lightning Network, announced the release of Taproot Assets Protocol v 0.2. update, which will avoid possible delays in transaction processing due to Bitcoin network congestion. "We are seeing a surge of interest in Bitcoin blockchain asset ...
Lightning Labs Updates Taproot Protocol to Ease Bitcoin Network Load
Lightning Labs has updated Taproot protocol It will allow the creation of BRC-20 tokens without network load Lightning Labs has proposed a solution to the growing load on the Bitcoin network. They've updated the Taproot Assets Protocol. ...
Kazakhstan Earns $7 Million in Taxes from Cryptocurrency Mining in 2022
The government of the Republic of Kazakhstan for 2022 received 3.07 billion tenge (about $7 million) in taxes from miners. The reason, according to local media, is the entry into force of amendments to the Tax Code. According to the republican government, taxes collected ...
BRC-20 Token Capitalization Surges to $143 Million in One Week
From $17.5 million to $143.14 million The total number of tokens reached nearly 9,000 Some crypto experts compare this standard to ERC-20 and point to huge prospects According to Ordspace, the total token capitalization based on the BRC-20 standard ha ...
Elon Musk Admits to Boosting Dogecoin’s Value with a Tweet
On February 22, the CEO of Twitter, Tesla, and SpaceX, Elon Musk, made a short post on Twitter about a dog that significantly increased the value of the meme cryptocurrency, Dogecoin. Within half an hour of Musk's tweet, the value of DOGE rose by 7%, and there was a weekly increase of almost 2%. ...