Ledger Live has announced a strategic partnership with Crypto.com Pay to integrate its on-ramp digital payments technology into Ledger’s software. This integration will enable Ledger Live app users to conveniently purchase over 300 cryptocurrencies using the Crypto.com Pay On-ramp payment gateway. The new feature, which offers a fast checkout experience for verified customers to buy […]
Bitcoin News
Bitcoin Miner Bitfarms Enhances Paraguay Facility With New 100 MW Hydropower Deal
On Tuesday, bitcoin mining company Bitfarms, listed on the Nasdaq and Toronto Stock Exchange (TSX), announced it has secured an additional 100 megawatts (MW) of power from Paraguay’s state-owned utility firm, ANDE. The 100 MW is anticipated to double the capacity of the hydro-powered Yguazu site and should be fully operational by 2025. Bitfarms to […]
Bitcoin News
El Salvador Enhances Bitcoin Treasury Transparency With Launch of Dedicated Mempool Space
In a significant move towards transparency, El Salvador’s National Bitcoin Office (ONBTC) has announced the launch of its own mempool space. This development allows anyone to view the country’s bitcoin treasury holdings. The initiative is supported by Mempool, which revealed it has provided a custom instance of The Mempool Open Source Project for the ONBTC. […]
Bitcoin News
Standardization of Blockchain Data Format Enhances Interoperability Between Chains – Nick Yushkevich
According to Nick Yushkevich, standardization of blockchain data formats is crucial as it enhances the interoperability of distinct protocols and fosters broader adoption of the technology. Yushkevich, the director of product at blockchain infrastructure provider Quicknode, added that such standardization helps to improve communication between systems. Unlocking the Full Potential of Blockchain Data Yushkevich stated […]
Bitcoin News
Quicknode Enhances Blockchain Infrastructure With Zksync Hyperchain Support
Quicknode, a leading blockchain infrastructure provider, has officially expanded its offerings to include support for Zksync hyperchains, enhancing its custom chains solution portfolio. This development introduces a new level of scalability and privacy for businesses leveraging blockchain technology, facilitated by the integration of cutting-edge zero-knowledge (ZK) proofs via a partnership with Matter Labs. Quicknode Reveals […]
Bitcoin News
Cipher Mining Enhances Bitcoin ASIC Fleet With 7.1 EH/s Bitmain Deal
On Monday, Cipher Mining revealed its acquisition of 7.1 exahash per second (EH/s) in new mining equipment from Bitmain. The company invested in Bitmain’s T21 series miners, totaling a purchase price of .5 million.
Cipher Mining’s Strategic .5 Million Investment in Next-Gen Bitmain Miners
In recent months, following the introduction of several advanced bitcoin mining units, mining operations have been actively acquiring state-of-the-art mining rigs. On Dec. 18, the bitcoin mining company Cipher Mining (Nasdaq: CIFR) announced its purchase of 7.1 EH/s in next-generation mining machinery from Bitmain.
Cipher Mining spent per terahash, amounting to a total investment of .5 million in the latest hardware. The Bitmain Antminer T21, an air-cooled device, offers 190 terahash per second (TH/s) and boasts an efficiency of 19 joules per terahash (J/T). Cipher Mining intends to utilize these new rigs to enhance its self-mining hashrate, with the delivery of the 7.1 EH/s equipment slated for the first half of 2025.
“We are very excited to continue our track record of investing opportunistically during lulls in the bitcoin mining cycle,” Tyler Page, the CEO of Cipher said in a statement on Monday. “By acquiring 7.1 EH/s of Bitmain’s T21 mining rigs, we can build out the first 135 MW at our newly acquired Black Pearl site. We also have an option to acquire up to an additional 8.7 EH/s of T21s in 2024.”
The Bitmain T21 series has been a popular bitcoin mining rig model, as evidenced by significant orders from Iris Energy and DMG. Iris Energy made two substantial purchases recently: 7,000 T21s at the end of November and an additional 8,380 T21s two weeks later. Similarly, DMG acquired 4,550 T21 Antminers from Bitmain this month, totaling .1 million. In addition to Bitmain, it’s main competitor, Microbt, has been securing orders for its next-generation Whatsminer models.
What do you think about Cipher securing 7.1 EH/s of T21 Bitmain miners? Share your thoughts and opinions about this subject in the comments section below.
Solana Enhances Privacy Offerings As SOL’s Uptrend Persists With 4% Gains
Solana (SOL), a layer 1 proof-of-stake blockchain, has introduced version 1.16, which enhances user privacy through “Confidential Transfers.” This update includes encrypted Solana Program Library (SPL) token transactions, ensuring confidentiality rather than anonymity.
The adoption of version 1.16 by Solana’s network of validators has reached a majority after ten months of development and an audit by Halborn, a blockchain security firm.
Solana Labs Rolls Out Privacy-Enhancing Update
According to the announcement made by Solana’s infrastructure provider Helius, The update has undergone rigorous testing, with v1.16 running on testnet since June 7, 2023.
Volunteer and canary nodes have reportedly played a crucial role in identifying and resolving issues during the testing phase. Solana Labs has also deployed canary nodes on mainnet-beta to monitor the stability of v1.16 under real-world conditions.
Solana employs a feature gate system to prevent consensus-breaking changes, ensuring that validators running older versions do not fork off the canonical chain.
What’s more, Consensus-breaking changes now require a Solana Improvement Document (SIMD) and greater transparency through documentation.
Confidential Transfers, introduced by Token2022, utilize zero-knowledge proofs to encrypt balances and transaction amounts of SPL tokens, prioritizing user privacy.
Looking ahead, Solana Labs plans to adopt a more agile release cycle, targeting smaller releases approximately every three months.
Room For Growth
According to a Nansen report, Solana has witnessed a significant surge in its Total Value Locked (TVL) throughout this year, nearly doubling since the beginning of 2023, and currently boasting a TVL of 30.95 million SOL.
Monthly transactions on the Solana network have remained relatively stable, with an increase in vote transactions, encompassing both vote and non-vote transactions.
Furthermore, Nansen highlights that Solana has implemented innovative solutions such as state compression and isolated fee markets to address prominent issues within its tech stack.
One notable solution, state compression, has substantially reduced the cost of non-fungible token (NFT) minting on Solana more than 2,000 times.
State Compression Unleashes Affordable NFT Minting
For instance, the cost of minting 1 million NFTs before the introduction of state compression would have amounted to approximately 3,000. In contrast, with state compression enabled, the cost is significantly reduced to just 3.
In comparison, minting a similar collection size on Ethereum would cost approximately .6 million, and on Polygon, it would amount to around ,800.
Furthermore, the liquid staking landscape on Solana is experiencing rapid growth, with leading platforms like Marinade Finance, Lido Finance, and Jito taking the forefront.
However, despite this growth, the current amount of staked SOL in Solana’s liquid staking protocols accounts for less than 3% of the total staked SOL, indicating substantial room for expansion.
It is worth noting that the report by Nansen raises concerns about the uncertainty surrounding FTX/Alameda’s SOL holdings, as FTX holds over 71.8 million SOL, representing approximately 17% of the circulating supply and 13% of the total supply.
While this situation may present temporary risks to Solana’s growth trajectory, it is essential to monitor its impact closely.
On the other hand, the native token of the protocol, SOL, continues to exhibit substantial gains across all timeframes. The token is trading at .68, reflecting an increase of over 4% in the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
Former Bored Ape Yacht Club Artist Enhances Sneaky Vampires Syndicate Utility And Inclusion Through Second Collection
Competition continues to heat up in the NFT space, yet very few collections provide long-term utility. However, Sneaky Vampire Syndicate’s team is preparing to launch the Sneaky Vampiress collection, which is integral to the project’s future. Moreover, the new collection pays homage to the many female MFT artists who remain undervalued in this industry.
The Success of Sneaky Vampires Syndicate
Thousands of NFT collections have come to market over the past year and a half. Some are more successful than others, yet success comes in different forms. A high overall trading volume is often a good indicator. However, collections also need to offer long-term utility to remain relevant, which is much harder to come by. Sneaky Vampires Syndicate is one of the few collections checking both boxes.
Thanks to over 21,700 ETH in total trading volume, SVS is one of only 63 NFT collections to date capable of surpassing 21,000 ETH in sales. That is remarkable, given the sheer amount of NFT collections being created every week. Moreover, the collection of 8.888 male vampires notes over 1,400 holders, confirming a strong interest in what this collection provides. Furthermore, the team recently achieved strong real-world utility coinciding with the new Scream movie release.
To expand the utility of Sneaky Vampires Syndicate, the team will launch a secondary collection. Like the male vampires, the Sneaky Vampiresses are created by former BAYC artist Mig. Moreover, the choice for female vampires makes sense, as SVS aims to bring attention to the female enthusiasts in this industry. Both collectors and artists can see the appeal of Sneaky Vampiresses, a collection that will potentially improve the appeal of non-fungible tokens.
Promoting female inclusion and representation is essential in a male-drive industry. Gender should not be a barrier to empowerment through decentralization. Additionally, the easy-to-understand nature of Sneaky Vampire Syndicate makes it a powerful candidate to attract other genders to the NFT industry. More importantly, it may spark a wave of enthusiasm among artists to explore what this technology is all about.
Sneaky Vampiresses Enhance Utility
Although the ambition to promote female NFT artists and enthusiasts is worthwhile, the new collection has a secondary purpose. Matching male and female vampires introduces the breeding system, dubbed “Blood Pact”. Holders of both NFT types can engage in the minting of Gen-2 vampires, which will unlock an expansion of the Sneaky Vampire Syndicate Metaverse and its utility. Minting Gen-2 vampires requires $BLOOD tokens earned from staking SVS NFTs.
The Sneaky Vampiress collection will also feature eight unique 1-of-1 non-fungible tokens. Eight individual female artists draw these eight unique renditions, adding a certain appeal to the collection. Even though there are more Vampiresses (12,345) than initial Sneaky Vampire Syndicate NFTs (8,888), there are many opportunities. Existing SVS holders all gain minting access at a 1:1 ratio based on NFT holdings. The rest of the Vampiresses will be minted by large and female-led communities and public minting participants.
Sneaky Vampire Syndicate Project lead Thomas Kekker adds:
“The Genesis SVS NFTs were a huge success, and we’ve not let our foot off the gas. From the very beginning, we built this around nurturing our community and creating the best possible environment. We believe the release of the Vampiresses will continue the growth of our ecosystem in the right direction.”
Whitelisted users can access the Sneaky Vampiress pre-sale between February 21, 3 pm ET, and February 22, 3 pm ET. Public minting will begin on February 22, 4 pm ET, until all NFTs are minted or the campaign ends on February 28. All Sneaky Vampiresses will be revealed on that day after the minting process ends. Holders of Genesis SVS NFTs can achieve a minting discount of up to 50% if they own enough $BLOOD tokens.
Japans Financial Regulator Enhances Risk Screening Process for Crypto Exchanges
n Japans financial regulator has changed the risk screening process for crypto exchanges, now requiring a submission of minutes of board meetingsn
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Coinbase Enhances Product Experience, Winds Down Multisig Vaults
Coinbase, one of the largest cryptocurrency exchanges in the world, has announced it will be making a number of significant improvements to the product experience.
Coinbase to Roll Out Portfolio Balance
As the crypto-space matures and more exchanges enter this growing market, competition tends to encourage product innovation and enhancement. With this in mind, Coinbase has overhauled buy and sell flows to improve the product experience.
Over the next few weeks, the exchange will start rolling out Portfolio Balance so that users are able to track their portfolio and its performance over time. Showing historical balances is only the first of many improvements the company wishes to make in name of user experience.
The functionality will initially be added to the web platform, then followed with Android and iOS. A tool that monitors the digital asset portfolio has been one of their most requested features, according to Coinbase.
According to the statement, a customer’s portfolio value represents the fiat equivalent of all cryptocurrency and fiat holdings on Coinbase at any given moment in time.
“So your balance will go up as you invest more on Coinbase or as your assets increase in value. Portfolio Balance does not show gains and losses. Since Coinbase enables customers to send and receive digital assets, we do not currently have an accurate cost basis for all holdings.”
The inability to provide accurate cost basis for all holdings is due to the same issue that makes it difficult for Coinbase to generate automated tax reports.
Over the coming months, the exchange will unveil more tools “like showing gains and losses on specific Coinbase investments and viewing historical balances for individual assets”.
Coinbase Winds Down Multisig Vaults
Coinbase introduced multisig vaults in late 2014 to add extra safety for users. Customers find value in them in order to manage their private keys and control their own security, while using the exchange’s interface. Coinbase, however, will end this feature on April 19, 2018 as “complexity of multisig vaults makes it infeasible to support multisig withdrawals for each additional forked asset”.
Customers using multisig vaults can move funds with the two keys they control. The winding down of the feature will result in customers not being able to access the third key that Coinbase controls. The company recommends customers to withdraw all funds from a multisig vault before the referred date in case they have no access to the two keys they already control.
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