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The Government of Iran takes down mining farms

The Iranian government takes down crypto mining farms after discovering a huge amount of power usage which to them, was the result of extreme power usage. It was reported that demand for subsidized power had risen to about 7% which is normally not the case for people getting aid from the government. This prompted the…

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The Iranian government takes down crypto mining farms after discovering a huge amount of power usage which to them, was the result of extreme power usage. It was reported that demand for subsidized power had risen to about 7% which is normally not the case for people getting aid from the government. This prompted the government to sort help from informants in identifying illegal miners. So for crypto miners operating without a proper license from the administration, their farms were brought down. It is alleged that about 1000 farms were shut down.

Tavanir is one of the main state-owned energy companies in Iran, which now depends on aid from informants to curb extreme usage of subsidized power. Illegal mining is met with strict penalties and fines for mining illegally in Iran range from 2000 USD to 5000 USD for each of the machines used. There is also an extra fine of 20.000 USD for those caught using a state-funded power source. One company that has been approved in Iran for mining by the Ministry of Trade and Mine is iMiners. With 6000 bits of hardware, the company system gets the greatest mining benefits in Iran. The cryptocurrency was approved in Iran by the government in 2019 and has since realized over a thousand licensed miners.

With the US nuclear sanctions program hitting Iran monetarily, Iranians as often as possible discuss the subject of how money can securely be stored. Hence numerous Iranian organizations and regular folks have wound up either in Bitcoin mining. Iran recently announced that the Pakistani forex brokers list has registered an increase in mining and that Iran will allow enormous scope power plants to fill in as Bitcoin miners who will not use state-funded electricity. This is accumulated with an end goal to abstain from money frauds and smuggling into the country. Miners are marked-out as both private people and associations.

Power plants can gracefully approve digital money miners insofar as the power is sold at the approved rate, a representative for the Power Generation, Distribution, and Transmission Company, Tavanir said. According to law, miners are charged 4,800 rials for one kilowatt-hour that is a large portion of the power supply rate in pre-winter, winter, and spring. Nonetheless, billings are intended to be founded on 19,300 rials, double the cost for traded power in mid-year.

Reporting crypto miners didn’t come for free. The government directly reworded informants who gave out unlicensed mining information. Informants reported gained up to 100 million rials. This is because it would be difficult for Tavanir to detect the use of subsidized energy by illegal miners only by monitoring activities of extreme power usage. Bitcoin miners in Iran are required to get electricity from large-scale power companies. As mining involves the use of large amounts of electricity and heavy mining equipment, connecting several computers and the internet, miners can’t use state-funded electricity.

It is not illegal to mine digital currency in Iran if the Ministry of Industry and Mines knows certain insights regarding the individual and his business. Such as the service requests to know the size of the farm and the sort of equipment that is used. They don’t need individuals to import equipment through indirect access. The standard applies to both the people and organizations mining digital currencies. Regardless, Iran upholds crypto miners and even those that are not locals despite everything excel in the nation. This is the reason iMiners chose to settle there with its 6,000 bits as approved by the Ministry of Industry, Mine, and Trade. It is perhaps the greatest organization doing radiantly well in Iran.

Digital currency miners have one month to enlist illicit mining hardware, as required by the delegates of Industries, Mining, and Trade, the body responsible for approving the crypto mining industry. As per the authority, unregistered mining hardware will be viewed as illicit and seized after the deadline. Specialists state the offer of most crypto mining equipment is lawful on the grounds that the equipment and gadgets are additionally used in different sectors and imported legitimately by computerized and specialized equipment organizations.

Source: https://cryptoverze.com/the-government-of-iran-takes-down-mining-farms/

Blockchain

All Eyes on Ethereum

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One Ether now costs more than US$3000. Did you ever think you’d see the day?

You gotta hand it to the crypto markets: in some ways they’re comically predictable. A month ago, Ethereum was everyone’s favourite whipping boy, a bloated, expensive under-achiever that couldn’t even double its 2017 all-time high. Lol what a weakling.

And with competitors like Cosmos, Solana, Polygon and Polkadot nipping at its heels, perhaps this was the beginning of the end for the network that gave us smart contracts, ICOs, ERC-20 tokens, DeFi, yield farming, NFTs and, to be honest, the entire idea that blockchain was a multi-functional and era-shaping technological breakthrough that you ignored at your peril.

How things have changed. On Monday Ethereum blasted through the US$3000 mark like it was barely there, throwing on an extra 15% while it was at it. The network is now worth a shade under US$400 billion, putting it on par with Mastercard and Walmart, and officially making Vitalik Buterin, the 27-year-old prodigy who created Ethereum, a bona fide billionaire. So, is this how the Flippening begins?

Network to net worth

Due to the speed with which things move in crypto, we tend to underestimate some of the metrics that actually speak to a technology’s success. The new shiny thing is almost always more exciting than some dusty old contraption built in the positively prehistoric year of 2015. Did they even have electricity back then?

But Ethereum stands out from almost all other blockchains in that it’s already being used, at scale, by millions of people and companies. While that may seem like Business 101 – get more customers, be more successful – when it comes to blockchain usage is a particularly powerful factor because of the way it harnesses network effects to improve the value of the system itself. Use it more and the whole system becomes more valuable, both financially and practically, for the network’s users, miners, stakers, investors and developers. Oh, and Vitalik, of course.

How far we’ve come

Ethereum’s issue has always been its inability to scale. If you can’t handle hundreds or even thousands of transactions a second, then you’re not really fit for purpose as a global computer. The result for Ethereum has been a year of increasing network congestion and brutally high transaction fees. Yet the fact that so much continues to be built and transacted on Ethereum tells you exactly how strong these network effects already are.

There’s also an increasing focus on three major changes to the Ethereum network due to arrive before the end of the year:

  • EIP-1559: Lifts one of DeFi’s major innovations in the field of ‘tokenomics’ by implementing a token burn system on every transaction. You use the Ethereum network, you burn some ETH, never to be seen again.
  • Optimism: due for a full launch in July, the Optimism sidechain should significantly improve the speed of Ethereum by leveraging largely incomprehensible processes such as ZK-Rollups and Sharding. It’s already being used by the Synthetix protocol, where it has saved users over $10 million dollars in transaction fees.
  • Ethereum 2.0: This is the big one, Ethereum’s transition from Proof-of-Work to Proof-of-Stake. It’s been coming for years, but the importance of the change cannot be overstated. Already more than 4 million Ethereum are being staked on the Ethereum 2.0 contract, offering an insight into how much ETH might fall out of circulation once the entire thing goes live (potentially in November).

In short, Ethereum is just getting started. The price might seem gaspingly high right now, but remember that Ethereum isn’t trying to be Walmart or Mastercard. It wants to be the thing that Walmart and Mastercard are built on – and that’s a prospect worth having a stake in.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.coinjar.com/all-eyes-on-ethereum/

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Blockchain

CARBON: A perfect avenue for showcasing talent

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Creative professionals sometimes find themselves figuring out where to showcase their creations and profit from them. 

It’s a tough situation to be in. But with CARBON, the dilemma is lessened. 

CARBON creates an avenue that gives creators both a place to show off their talents and a chance to earn money.

CARBON features an ecosystem of a global scale that integrates open finance, fashion, art, music, and non-fungible tokens (NFTs).

One of its objectives is to enable a community that can inspire, support, and reward professionals.

What the CARBON marketplace looks like

As what an ideal marketplace should be, CARBON has a lot to offer, helping emerging brands and artists have a shot even at the highest levels of competition they have to deal with.

Items related to fashion, art pieces, music, and digital assets such as NFTs are offered in the CARBON marketplace. A dedicated team will carefully select these products.

The market will also see exclusive collaborations featuring various artists and brands for physical commodities and digital items that will be dropped on a weekly basis.

As for its audience, they should prepare for a diverse experience brought by a market evolving into a global ecosystem.

About CARBON

CARBON was founded by Chad Pickard who also acts as its Chief Executive Officer (CEO). It is an open finance wallet and super ecosystem that is built for the whole world of fashion, art, music, and culture while also integrating digital assets through NFT offerings.

It has its native token, the $GEMS, and its wallet integrates Neobank functions like the financial technology company Revolut and a non-custodial smart wallet for decentralized finance (DeFi) and cryptocurrencies.

This integration allows users to hold fiat (government-backed) and digital currencies as well as NFTs in a single platform.

The wallet is linked to the market, giving users the ability to directly select items that they desire.

CARBON doesn’t just work as a marketplace where purchases can be made, but also as an avenue where professional creators get to showcase their talents and inspire others to promote their own. It provides them with a winning environment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/bitcoin/carbon-a-perfect-avenue-for-showcasing-talent/

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Blockchain

How Tokenplace can help crypto traders get the best buy and sell prices

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Any seasoned crypto trader knows that the price of a digital currency can vary across different exchanges worldwide.

Thus, one of the basic strategies for investing in digital currencies is to scout for the best buy or sell price and that’s where Tokenplace comes in.

Access to different crypto exchanges via one platform

To take full advantage of the price variance across exchanges, some traders often resort to opening accounts on different platforms. But Tokenplace eliminates this need because the platform allows one to access different exchanges worldwide.

This means that a user will only need his Tokenplace account and password to gain access to the entire crypto market. This is a lot simpler compared to having to main multiple accounts and passwords for other exchanges for different trading pairs.

Tokenplace is basically an online trading platform and exchange aggregator. With its automated order-splitting, orders are automatically broken up to ensure that traders get the best price for every coin they want to trade.

Easy to use and features-packed trading terminal

Tokenplace is also very appealing to newer investors because it is very easy to use. For instance, users will only need to access a single window for their deposits, withdrawals, trading, and exchanging.

The platform can be accessed from both desktop and mobile devices. Tokenplace’s onboarding and one-time registration process are also one of the quickest in the industry.

Tokenplace uses advanced algorithms for its multi-exchange order splitting feature. With this high-tech tool, users can get the best buy and sell price every time they trade.

Website: https://tokenplace.com/
Twitter: https://twitter.com/TokenplaceTOK
LinkedIn: https://www.linkedin.com/company/tokenplace

IMPORTANT NOTE: This is a paid press release, which BitcoinerX has posted as part of a commercial agreement. BitcoinerX is not responsible for producing this content and does not endorse the products or services mentioned. It is the responsibility of the company posting the press release to ensure the material is credible and accurate. BitcoinerX is not responsible for any damage or loss caused to anyone who chooses to use the company, product or services mentioned in the press release. BitcoinerX does not recommend using the information in the press release to form the sole basis of investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/how-tokenplace-can-help-crypto-traders-get-the-best-buy-and-sell-prices/

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