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Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s – Mining Bitcoin News

Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power.

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Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power.

● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH/s, well beyond the company’s original cumulative hash rate target of 1,000 PH/s for 2021.

● In a statement this week, Hive said the equipment will be delivered in eight tranches in 2021, with 500 miners delivered in May and June, and 900 miners delivered each month until year-end.

● Vancouver-based Hive said the latest purchase, which is double the 3,500 miners bought last year, “is part of our continuing strategy to increase our bitcoin mining capacity.” For the December 2020 quarter, the firm mined 140 bitcoins and over 22,000 ethereum (ETH).

● The Avalonminer 1246 miner is Canaan’s most powerful range available and comes with a hash rate of 90TH/s.

● Hive operates mining facilities that run on renewable energy in Canada, Sweden and Iceland. Shares of Hive fell 15% to $2.42 Canadian dollars ($1.91) in Toronto trading on Thursday. In the past 52 weeks, the stock has swung to a high of CAD$3.50 and a low of CAD$0.12. Year-to-date, Hive is down more than 10%.

What do you think about Hive’s latest purchase of bitcoin miners? Let us know in the comments section below.

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● Vancouver-based Hive said the latest purchase, which is double the 3,500 miners bought last year, “is part of our continuing strategy to increase our bitcoin mining capacity.” For the December 2020 quarter, the firm mined 140 bitcoins and over 22,000 ethereum (ETH).

Source: https://news.bitcoin.com/hive-blockchain-buys-6400-bitcoin-miners-from-canaan-capacity-reaches-1229-ph-s/

Blockchain

‘Crypto Networks Are Going to Be the Foundation for So Many Things,’ Says Blockchain Association’s Kristin Smith

BeinCrypto spoke to Kristin Smith from the Blockchain Association about their work advocating for blockchain and crypto in the U.S.

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BeinCrypto spoke to Kristin Smith, the Executive Director of the Blockchain Association. Smith discusses the Association’s work advocating for blockchain and crypto in the United States.

The Blockchain Association is a trade association based in Washington, D.C. It aims to change and participate in public policy relating to crypto and blockchain in the United States.

Currently, the organization has around 50 different companies from the crypto industry involved in its work.

“I started my career working as a congressional staffer here in Washington D.C. After I left the hill, I was doing some lobbying and advocacy work. In that process, I stumbled upon the cryptocurrency ecosystem and became super fascinated with it,” she explains.

Now, Smith and the Association are central in major policy pushes and fights for crypto and blockchain in the U.S.

Improving crypto understanding and government relations

Recently there have been policy shockwaves coming out of the U.S. However, Smith explains that overall there has been improvement in government understanding.

“It’s not universal, but there are a lot more people today than there were two years ago that understand what crypto networks are and see it as a source of innovation going forward and want to have good policies around that space.”

“There are lawmakers that have concerns. They haven’t spent the time to fully understand how crypto networks work in order to have an informed position. Although, this has improved since we got started three years ago,” she explains.

The criminal activity concerns

According to Smith, there are those in the U.S. government who haven’t fully engaged with the space. As a result, there are a lot of misinformed opinions about key cryptocurrencies.

“They often have only been informed by the headlines that they read. So what they read is that bitcoin was used in a money-laundering operation, or that bitcoin was used in a ransomware attack. So those who haven’t taken the time to get into this, tend to associate crypto and bitcoin, with criminal activity.”

However, this criminal activity continues to prove a small margin.

“Those of us who work in this space know that that is an incredibly small percentage, in fact, a much smaller percentage than we see with US dollars. We know hat there are so many wonderful uses of cryptocurrency that are under development.”

Smith explains that it can be frustrating, as all new discussions have to start with explaining that cryptocurrencies are not just used in criminal activities.

“As more and more applications come online that people use, the everyday constituents of lawmakers or, the leaders that are you know appointed to their positions. When they realize that everyday people are using this technology, I think that will that will change over time,” she says.

Dealing with a vast crypto space, effectivley

The issues facing blockchain and crypto acceptance, especially at a government level, are extensive. From taxes to exchange concerns, how policy relates to this growing area goes in multiple directions.

The Blockchain Association has a reasonably comprehensive mandate. It, therefore, uses its collective nature to deal with specific issues facing its members.

“We try to be responsive to the issues that the members care about. We often spot the issues first because we do have a sense of what they do care about. So it’s a lot of back and forth. It’s a lot of getting groups of people on Google Meet calls and a lot of discussions.”

“We do have a team in-house that tries to facilitate that process and make it as easy as possible to get people together. When it comes time to writing that policy in a position paper or a comment letter to regulators, we have a team that puts that draft together so we can get it 95% there. Then we let the members make the final tweaks to make it perfect,” she says.

“I think that everyone in this space agrees that clarity is important”

For Smith, these position papers and comments are necessary to push the industry forward. They provide insight and understanding on both sides.

“I think that everyone in this space agrees that clarity is important. In the early days of bitcoin, the thought of no regulation was common among the group that was initially involved but over time that’s changed. People realize that in order to have mass consumer adoption of cryptocurrencies or institutional adoption, we do have to have appropriate protections in place and that we want to be a part of those conversations.”

“I actually think that people in the crypto community, in the crypto industry, are pretty open-minded to this. That it isn’t an issue like it maybe was ten years ago,” she says.

Slowing down the process

Smith sees the cryptocurrency community opening their minds over time to regulation. However, on the other side, she sees how slowing down the process brings greater awareness to sometimes hasty policy plans.

“I think our greatest achievements have been to policies that we were able to slow down. Last December, there was a midnight rulemaking being pushed through the Treasury Department at the end of the administration,” she says.

“We were able to push back very hard on that and prevent that from going into immediate effect. It’s now kind of lower on the priority list. So we were able to buy time in order for some of the regulatory technology solutions to develop. So by stopping that we were able to prevent a rule that would have effectively sort of banned the use of self-hosted wallets in the United States.”

More recently, the Association applied itself to the issue of the Infrastructure Bill.

“Just this past month, there was an infrastructure bill moving through the Senate. Ironically, we didn’t actually solve the problem yet, but we succeeded in making it one of the major sticking points to moving the bill forward throughout the debate,” she explains.

“The entire crypto community joined together in very vocal opposition to this. As a result, there are a lot of members of Congress today, that even a few weeks ago didn’t fully understand crypto networks. So waging that battle at such a high level and in an organized way has been very helpful in positioning the industry here in Washington. I think it will be a turning point for us to go from being defensive to more proactive.”

A reflection of what the industry wants

The work done by the Blockchain Association has wide-ranging impacts. Even those who don’t participate feel the effect that its policy involvement has.

For Smith, their work is a reflection of the industry and what it is aiming to achieve.

“I think that what is maybe most misunderstood is that what we do is really a reflection of what the industry wants. You know there are different types of nonprofits that work on advocacy.”

“For example, our friends at Coin Centre are incredibly smart and thoughtful, but they’re an independent organization. That’s in contrast to us. I can’t just put forth what I personally believe would be the right solution. We have to put forth what is a consensus position of the industry. So that makes it a little more challenging for us to sometimes get that consensus, but once we have it, I think it’s a very powerful thing. When we speak, we speak on behalf of a very large number of organizations in this space,” she says.

“Crypto networks are going to be the foundation for so many things.”

The Blockchain Association’s goal is to grow to a fully functional trade association. Smith aims to have it on par with others in the tech and financial world.

“I do hope that for the organization, we do succeed over time and get really good policies that have the right level of consumer protection or address any concerns around market integrity. But, doing so in a way that understands the new technology that doesn’t stifle innovation but actually instead encourages innovators here in the United States. Getting good policy is the ultimate goal.”

“For those of us in the industry who are working on this, we see that crypto networks are going to be the foundation for so many things that we do online. Whether it be financial services or interacting with content on the web or even what we’ve seen going on with NFTs, this sort of revolution of digital art that’s happening, enabled by blockchains,” she says.

“So we think that this is going to be a huge economic driver going forward. It’s important for us to be a part of this wave of innovation.”

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“I started my career working as a congressional staffer here in Washington D.C. After I left the hill, I was doing some lobbying and advocacy work. In that process, I stumbled upon the cryptocurrency ecosystem and became super fascinated with it,” she explains.

Source: https://beincrypto.com/crypto-networks-are-going-to-be-the-foundation-for-so-many-things-says-blockchain-associations-kristin-smith/

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Blockchain

Google works with Dapper Labs Threaded Blockchain

Google has teamed up with Dapper Labs’ Flow Blockchain to stay a leader in the next generation of Web 3.0 as we read more about our crypto news.

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Google cooperates with Flow, Dapper Labs, Blockchain, Web 3.0

Google has teamed up with Dapper Labs’ Flow Blockchain to stay a leader in the next generation of Web 3.0 as we read more about our crypto news.

The tech giant has announced a new partnership with blockchain creator Top Shot and Flow, Dapper Labs, and the new partnership will enable Google to support blockchain scaling in the near future. The partnership has secured Google Cloud as a key member of the Flow network, providing connectivity to consumers and app developers around the world. The deal, detailed in a Forbes press release, established Google Cloud as the network operator that will provide the infrastructure it needs to scale Flow. Dapper Labs is currently a strong player in the NFT and blockchain markets that have powered products like CryptoKitties and Top Shot, but the deal comes amid the NFT boom.

Dapper Lab brings, Blockchain, Flow,

Roham Gharegozhlou, CEO of Dapper Labs, confirmed the partnership with Google in a tweet in which he shared several blockchain milestones since entering the mainnet a year ago with over 2 million unique wallets with less than 2 million from Top Shot and 250 mainnet contracts and over 18 MM blocks mentioned with 50 MM on-chain transactions. Gharegozlou stated that the Flow blockchain now has over 3000 new developers under construction as Google begins to join in to help scale. With this new agreement, these developers can access nodes with lower latency. An interesting note from the Forbes team is the impact of Flow and other blockchain services on Amazon Web Services. Node operators of the flow blockchain are free to use the required hardware. However, the latest announcement will make it easier for developers to integrate with Google Cloud software.

flow

In a statement, Gharegzlou described the evolution of blockchain today as the time when consumers began to understand what was happening on the iPhone. Both Amazon and Microsoft have launched blockchain initiatives in recent years, which enables the big tech players to continue to gain a foothold in the cloud with crypto nodes. Chainstack’s 2019 report shows that more than 60% of ETH nodes run on cloud services, which gives stability to the large cloud service providers. Now that Google is working with the Flow blockchain, it looks like Google is getting stronger, especially after other partnerships with Chainlink and Hedera Hashgraph.

DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]

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Source: https://news.coincu.com/16377-google-works-with-dapper-labs-threaded-blockchain/

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Solana transactions stop as mainnet experiences intermittent instability|| Bitcoin, Altcoin, Blockchain News

Solana transactions stop as mainnet experiences intermittent instability | CryptoSlate Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Start Earning Interest Solana › Technology Solana’s developers said that the mainnet beta was bound to experience issues, but failed to assure the increasingly worried community. Andjela Radmilac · September 14, …

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Solana transactions stop as mainnet experiences intermittent instability | CryptoSlate

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SolanaTechnology

Solana’s developers said that the mainnet beta was bound to experience issues, but failed to assure the increasingly worried community.

September 14, 2021 at 5:32 pm UTC · 2 min read

Solana transactions stop as mainnet experiences intermittent instabilitySolana transactions stop as mainnet experiences intermittent instability

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The Solana blockchain has reportedly stopped processing transactions. According to the latest data from blockchain explorers SolScan and Solana Beach, the last transaction on the Solana network happened on September 14th at 11:58 UTC, creating a three-hour gap in transactions at press time.

Screengrab showing the last processed transactions on the Solana blockchain (Source: Solscan) ‘Intermittent instability’ on Solana worries community despite developers’ calls for patience

Shortly after the issue with the transactions was first reported by users on Twitter, the Solana Foundation issued a statement acknowledging that the network was experiencing issues. The Foundation said that it has been aware of the issue and that engineers have been deployed to resolve it.

Solana mainnet-beta is experiencing intermittent instability. This began approximately 45 minutes ago, and engineers are investigating the issue.

— Solana Status (@SolanaStatus) September 14, 2021

Anatoly Yakovenko, the CEO of Solana Labs, also took to Twitter to call for network validators to join the project’s Discord server and resolve the issue with the mainnet beta.

hey @solana validators! jump into https://t.co/q4DvhuuFeh its beta time

— Anatoly Yakovenko (@aeyakovenko) September 14, 2021

And while some noted that Solana’s mainnet was still in its beta release and was bound to experience hiccups, they failed to assure the Solana community that the blockchain would be up and running soon.

The Solana Foundation said that resource exhaustion in the network was what caused the denial of service on the blockchain. The foundation also noted that despite the fact engineers were working towards resolving the issue, network validators were preparing for a potential restart if deemed necessary.

Resource exhaustion in the network is causing a denial of service, engineers are working towards a resolution. Validators are preparing for a potential restart if necessary.

— Solana Status (@SolanaStatus) September 14, 2021

Developers have since released a patch in Solana v1.6.23 which is set to resolve some of the resource exhaustion issues. Georgios Konstantopoulos, the research partner at Paradigm, said that the issue was most likely caused by bots spamming the reverting transactions to exploit a bug that made them almost free.

here’s the patch released in @solana v1.6.23 which will supposedly fix some of the resource exhaustion issues after bots spammed near-free reverting transactions, which resulted in mainnet halting

full diff from 1.6.22 https://t.co/dEa1x057nahttps://t.co/LplTZmPd1g

— Georgios Konstantopoulos (@gakonst) September 14, 2021

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September 14, 2021 at 5:32 pm UTC · 2 min read

Source: https://www.exxennews.com/cryptocurrency/solana-transactions-stop-as-mainnet-experiences-intermittent-instability/

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