Crypto Weekly # 112 – Cryptocurrency news of the week
News regarding Bitcoin and cryptocurrencies is in constant turmoil. It may happen that vital information gets lost in the daily news flow and you miss important points.
This format is there to remedy that. We return to the news of the past week in the Crypto Weekly in order to keep you informed on the current situation of cryptocurrencies.
The local must-see
This week we find Ludovic and his historical return to the history of Bitcoin. After seeing the launch and the first months that followed, this time it takes us through 2010. A pivotal year for Bitcoin Circuit scam which has witnessed a significant increase in its hashrate.
The year of the hashrate
Unlike 2009 when Satoshi Nakamoto was almost the only one to mine on a regular basis, in 2010 many people started to participate in a sustained manner.
In February, the hash rate exceeded 10 million hashes per second (10 MH / s) on average for the first time. In April, 100 MH / s are exceeded, reaching 200 MH / s in July.
Specialization of mining equipment
Among these new miners is Laszlo Hanyecz , a 28-year-old Hungarian-born American developer. The latter is indeed interested in how Bitcoin works and seeks to experiment with it. At the beginning of April, he obtains bitcoins by buying them at NewLibertyStandardand generates his own bitcoins.
After a brief attempt to overwhelm the trading network by sending bitcoins to his home address , he sets out to try to optimize the mining process. Thanks to his computer skills, he developed graphics processor (GPU) mining : until then limited to the central processor (CPU) of computers, mining can indeed be done very efficiently using a graphics card. By having a technical advantage over its competitors, Laszlo quickly occupies an important place in the production of blocks and thus accumulates tens of thousands of bitcoins.
Check out the full article so you don’t miss any of the details: Bitcoin’s First Steps in 2010 .
▶ The decentralized exchange platform Uniswap has just passed Coinbase Pro . Thus, on the day of August 29, Uniswap recorded a record volume of 502 million dollars , a figure much higher than that of the giant Coinbase Pro and its 348 million dollars .
▶ An oil giant about to join bitcoin mining . The company Equinor would consider setting up mining facilities next to its drilling areas in order to exploit the excess natural gas, usually burned.
▶ Coinbit accused of wash trading by the South Korean authorities . The owner and his team are accused of having manipulated the market by artificially inflating the volumes of transactions recorded. These manipulations would have enabled its owner to earn approximately $ 84 million .
▶ Massive resignations at CoinMarketCap following the acquisition of Binance . Thus, 4 executives of the platform as well as the founder Carylyne Chan announced their resignation. Unfortunately, the reasons have not been stated.
▶ The yEarn protocol continues to innovate by offering an insurance service . Produced in partnership with Nexus Mutual, this will allow users to cover themselves against problems related to smart contracts of the Aave, Balancer, Compound, Curve, Synthetix and yEarn platforms.
▶ After Coinbit, it’s Bithumb’s turn to deal with Korean justice . The exchange was also reportedly searched and also suspected of fraud.