• Will blockchain miners lose their jobs after Ethereum completes its "merger" and bid farewell to the era of large-scale mining?

    On September 15th at 14:00, the world's second largest blockchain Ethereum "Merge" was completed, and the main network was combined with the PoS consensus layer beacon chain (Beacon chain). Merger has become one of the most important events in the history of encryption by the market. After the completion of the "merger", Ethereum has successfully "merged" from the proof-of-work to the equity certificate. The mechanism after the "merger" will bid farewell to the era of large-scale mining. Reporters from Beijing Youth Daily saw on the blockchain forum that many former blockchain "miners" were lamenting the end of an era. Will blockchain 'miners' who were once popular lose their jobs? What impact will this have on the global mining machinery industry chain?The merger will reduce energy consumption by 99.95%According to OKLink data, Ethereum, the world's most active blockchain network, triggered a merge mechanism at block height 15537393 and produced the first PoS block (height 15537394). Since then, the Ethereum consensus has officially transitioned from PoW to PoS mechanism, completing the "TheMerge" upgrade. This will bring significant changes to the Ethereum network, including a 99.95% reduction in energy consumption and a 90% reduction in ETH issuance. According to CoinMarketCap data, the real-time price of Ethereum is approximately $1590, with a price drop of approximately 1.11% within 24 hours. Afterwards, it regained the $1600 level and had a market value of over $190 billion.Merging new mechanisms to bid farewell to the era of large-scale mining machinery "mining"Ethereum is a public blockchain platform, with its cryptocurrency being Ethereum ETH. Under the traditional "proof-of-work" mechanism, in the past few years, a large number of "mine owners" have purchased high-performance graphics cards to dig ETH mines. For miners, if they mine on the Ethereum main network, after merging, each network will operate entirely based on the PoS proof of rights mechanism. At that time, the traditional proof-of-work mining will no longer be available on the Ethereum network. Ethermine, the world's largest Ethereum ore pool, announced the termination of proof-of-work related services, and will no longer follow the proof-of-work bifurcation.Ethereum originally used the PoW (proof of work) proof-of-work mechanism, and the "miners" of the node competed for the packaging right according to the computing power and obtained the packaging reward. Nowadays, relying on the PoS (proof of stack) equity proof mechanism, Ethereum bid farewell to the era of large-scale mining machines "mining". Holders can "mine" by pledging Ethereum tokens (ETH), with a pledge threshold of 32 ETHs.Will the merger of Ethereum result in a significant unemployment of traditional blockchain miners?Will the merger of Ethereum result in a significant unemployment of traditional blockchain miners?MessariThe Merge 190 POW GPU Web3

    2023-04-28
  • After this' little spring ', there are still hidden concerns about Ethereum prices

    Recently, Ethereum has completed its "Shanghai upgrade", with ETH breaking through the $2000 barrier. The surrounding ecosystem of Ethereum Layer-2 has also been hyped, especially after the Airborne drop of Orbitrum, a large amount of funds have poured into the Layer-2 track, which is exceptionally popular.In the past week, the number of transactions on the Ethereum main network was 7.296 million, while the total number of transactions on Layer-2 was 19.469 million, of which Orbitrum alone accounted for 10.405 million transactions, more than half. That is to say, the number of transactions on the L2 track is more than twice that of Ethereum, and the number of transactions for a project on the Arbitrum (10.405 million) is significantly higher than the number of transactions on the Ethereum main network (7.296 million).We know that Layer-2 is the ecological construction layer of Ethereum, and in the future, most of the ecology will migrate. Therefore, it is expected that the prosperity of L2 in the future will surpass that of Ethereum's main network. The ecological explosion of Layer-2 in the future can also be expected.However, after observing ETH's on chain data, it is believed that in terms of price alone, ETH still has some hidden concerns in the long termShort term ETH prices have little impact and remain a hot topic in the marketThe ecological explosion in Layer-2 has resulted in minimal gas consumption. In the past week, the destruction of Ethereum gas was 19818, while the destruction of Arbitrum was only 632, accounting for 3.2%.It should be noted that Arbitrum has been heavily hyped recently, with an on chain activity of 140% compared to Ethereum, but gas accounts for only 3.2%, and other Layer-2 public chains are even lower.It cannot be denied that the surge in ETH from 2020 to 2021 and the decrease in supply have had a significant impact. The ETH2.0 beacon chain has successively pledged over 10 million ETHs, and the EIP1559 agreement has destroyed over 3 million ETHs. After the official conversion of ETH to the POS mechanism in September 2022, the supply decreased by 90%, resulting in deflation since the launch of ETH2.0.All of the above have led to ETH's strength in the secondary market.Layer-2 is one of the future competition tracks and the core battlefield of the Ethereum ecosystem, but it is still mainly hyped, and in this case, gas only accounts for about 5% of the total ETH consumption. However, it is difficult for the ecosystem around Ethereum to grow explosively in a short period of time, as the core applications are still defi, NFT, stable currency, etc., with less demand.The current gas model of Ethereum is still the same as before the ETH2.0 upgrade. The next upgrade is the "Cancun Upgrade", which focuses on significantly reducing transaction fees. V God once said that when Ethereum matures, gas will decrease by 99%. Now, Ethereum processes over 1 million transactions per day. If we want to maintain gas consumption, the number of transactions will need to exceed 100 million.Weinao believes that this will take a relatively long time to achieve, soAfter the hype of "Little Spring" in 2023 is completed, there may still be some pressure on the prices in the ETH secondary market before the next bull market arrives.

    2023-04-28
  • Ethereum Price Forecast: Will ETH Continue to Fall?

    The trading price of Ethereum was $1793.48 (release time), with an increase of 3

    2023-04-28
  • Comparison between ETH and BTC: Why may Ethereum prices face short-term pain?

    In the past 24 hours, the price of Etalum, the second largest secretive company, has skyrocketed by 7% as its network has successfully completed the highly anticipated Shanghai hard fork. However, upgrades enable network participants to recover their bet funds

    2023-04-28
  • How does Ethereum record a significant increase in gasoline costs as meme transactions increase

    In the past week, several traders have participated in trading ETH for meme tokens. As a result, the usage of gas has surged, bringing considerable revenue to blockchain

    2023-04-28
  • stage a comeback! Bitcoin has returned to $30000, with a year-on-year increase of over 70% and a 96% increase from last year's low

    Last year, Bitcoin encountered Waterloo, and this year there is a great momentum for the king to return. On April 11th, the price of Bitcoin broke through $30000 at around 8:30, an increase of over 5%

    2023-04-28
  • Nearly 30% decline within the year! Just dropped below $34000, why did Bitcoin plummet again?

    Bitcoin has plummeted again! As of 18:10 on January 24th, the price of Bitcoin has dropped below $34000 per coin, marking the first time since July last year. The past week has seen a drop of over 20%, and this year it has fallen by nearly 30%, almost halving from the historical high of $68928.9 in November 2021.Analysts point out that since the beginning of this year, the higher intensity of regulation by global regulatory agencies on cryptocurrency assets, including Bitcoin, as well as the strengthening expectations of the Federal Reserve's tightening monetary policy, and the widespread selling of US technology stocks, have been the main reasons for Bitcoin's sharp decline.Falling below $34000Coindesk

    2023-04-28
  • Bitcoin (BTC)

    Bitcoin is currently the most widely used digital currency. It was born on January 3, 2009 and is a peer-to-peer (P2P) digital cryptocurrency with a total of 21 million pieces. The Bitcoin network releases a certain amount of coins every 10 minutes and is expected to reach its limit by 2140. Bitcoin rose nearly 4.6 million times and was referred to as "digital gold" by investors. As of now, the total market value of Bitcoin has exceeded RMB 374.8 billion. Bitcoin is highly favored by technology enthusiasts due to its decentralized, global circulation, low transaction costs, and anonymous circulation characteristics. Recently, traditional financial institutions such as Wall Street and multinational central banks have started researching Bitcoin blockchain technology, and the People's Bank of China has also announced plans to develop digital currencies. The Japanese government officially recognizes Bitcoin as a legal payment method, and more and more Japanese businesses are accepting Bitcoin payments.characteristic

    2023-04-28
  • Bitcoin is showing signs of exhaustion, has the market ended

    Bitcoin is showing signs of exhaustion, has the market endedOriginal Huang Weihong Xingyu x2023-04-2600:03 Published in GuangxiIncluded in the collection#Financial category, including digital currency π coins691Please click on the author's name above to follow to avoid missing important informationBitcoin is showing signs of exhaustionIn recent times, after Bitcoin broke through 30000 yuan, the argument of "a bull market has arrived" has been heard endlessly. Many friends have put together funds to invest and re enter the market, but the trend of coin prices has not been satisfactory

    2023-04-28
  • Bitcoin (BTC) broke its losing streak in a rebound late Tuesday

    good morning. This is what is happening:Price:The later surge brought Bitcoin back above its previous $28000. Ethereum also rose.opinion:Is cryptocurrency improving? What will happen in terms of regulation? CoinDesk's annual consensus meeting features encryption industry leaders and will cover key themes within three days.PriceBitcoin is soaring, but will the rebound continue?After hovering below $28000 for five days, Bitcoin unexpectedly rose and drove most of the market.市值最大的加密货币最近交易Price超过 28,300 美元,在过去 24 小时内上涨约 3.7%。激增的起源很难确定

    2023-04-28
  • Bitcoin Returns $30000, Changes in Regulatory Attitude in Hong Kong, China

    Due to market expectations that the Federal Reserve will adopt more lenient policies, cryptocurrency prices have rebounded since the beginning of this year.On Tuesday (April 11th), Bitcoin prices broke through a critical level and reached their highest point since the accelerated decline last summer. With bulls once again dominating the market, prices may continue to rise in the short term.Bitcoin has risen 6% in the past 24 hours to $30100. For several weeks, Bitcoin has been trading sideways at around $28000, and prices have since risen again. Since the beginning of this year, Bitcoin has risen by 80%, sparking expectations of a possible new bull market.Naeem Aslam, Chief Investment Officer of ZayeCapital Markets, said: "The current price pattern is expected to attract a lot of attention, and investors will develop a 'fear of missing opportunities' mentality. At the time of the significant rebound in Bitcoin prices, many investors have already missed opportunities. Investors may make some profit taking at the current price level, but based on the upward momentum, prices are highly likely to continue to riseGoing out of the consolidation stage, Bitcoin may further riseSince a series of company thunderstorms shook the cryptocurrency industry in June last year, Bitcoin prices have not been able to exceed $30000. Therefore, for traders, breaking this psychological level now is a bullish signal. At present, bulls firmly control the situation, and in the highly liquid and speculative Bitcoin futures market, most positions are betting on further price increases, and many short positions have been eliminated.Many Bitcoin futures positions, including short positions betting on price declines, are built with borrowed money, and if the price trend contradicts the bet, traders may be forced to close their positions. According to Coinglas data, over $150 million in short positions have been forcibly closed since Monday. In addition, as closing positions usually triggers automatic buy orders, this will add upward pressure to the already rising Bitcoin market.Most of Bitcoin's recent gains have been due to its sensitivity to macroeconomic factors and correlation with the stock market, but Bitcoin's performance far exceeds that of the Dow Jones Industrial Average and the S&P 500 Index.去年加密货币面临的一个主要阻力是美联储大幅加息,加息抑制了对比特币等风险更高的投资的需求。Due to market expectations that the Federal Reserve will adopt more lenient policies, cryptocurrency prices have rebounded since the beginning of this year.Investors are waiting for the Consumer Price Index (CPI) released on Wednesday and the Producer Price Index (PPI) released on Thursday to determine the next steps of the Federal Reserve.James Lavish, executive partner of Bitcoin Opportunity Fund, pointed out that traders speculate that CPI data may prompt the Federal Reserve to suspend interest rate hikes, thereby boosting high-risk assets such as Bitcoin. Prices exceeding $30000 also release bullish signals, and Bitcoin is likely to rise further.But the future trend of Bitcoin will not be smooth sailing. In order to ensure that Bitcoin can continue to rise for a period of time, it must maintain its current growth rate and consolidate above the next technological level. In addition, people are still paying attention to Bitcoin's performance for the rest of this week.Katie Stockton, executive partner of Fairlead Strategies, a technology research firm, said, "Bitcoin is coming out of the consolidation phase. If we can confirm breaking through the consolidation phase above $28100 this Sunday, we will shift to a short-term bullish stance and suggest preparing for a second resistance level near $35900 in the price rangeIn addition to Bitcoin, Ethereum, the second largest cryptocurrency, rose 3% to $1920, while smaller cryptocurrencies also rose, with Cardano up 5% and Polygon up 3%. Dog currency increased by 3%, while Chaigou currency increased by 2%.Encryption companies flocking to Hong KongAlthough Bitcoin is currently heavily regulated by regulatory agencies worldwide, it is surprising that one financial center is moving in the opposite direction: Hong Kong, China. During the Bitcoin speculative frenzy from 2020 to 2021, Hong Kong, like mainland China, held a skeptical attitude towards cryptocurrencies, ceding its position as the center of cryptocurrencies in East Asia to its competitor Singapore. All of this has changed since the new Hong Kong SAR government took office.In February of this year, the Hong Kong SAR government announced a new regulatory template for cryptofinance, which includes allowing individuals to invest in "large market value" tokens. This is an all-encompassing and exceptionally detailed system, and it can be said that Hong Kong aspires to become a leader in the cryptocurrency market, "said Kishore Bhindi, a Hong Kong resident lawyer for Linklaters' financial regulatory groupThe Financial Secretary of Hong Kong, Paul Chan, announced that the SAR government has allocated a budget of HKD 50 million (approximately $6.5 million) for the development of the Web3 ecosystem. The Hong Kong Monetary Authority and the Securities Regulatory Commission plan to hold a roundtable meeting on April 28th to "promote direct dialogue" and "share practical experience" with the industry.The Hong Kong Securities Regulatory Commission stated that operators of virtual asset trading platforms (including existing platforms that have meaningful and substantial business in Hong Kong before June 1, 2023) that plan to apply for licenses should start reviewing and modifying relevant systems and monitoring measures to prepare for the new system. Cryptocurrency operators quickly responded. Industry consulting firm Holland& Marie's partner Claire Wilson said, "Related companies are flocking to Hong Kong, and some larger participants have a 'fear of missing out' mentalityWilson pointed out that unlike Singapore, which relies on its vast ports and related businesses, the financial services industry is very important to Hong Kong, accounting for nearly a quarter of its GDP. This is also why Hong Kong is actively welcoming the Web3 era.In the long run, Hong Kong may be more interested in the application of encryption technology in traditional financial services, such as tokenized bonds and tokenized securities, "said Bindi from Nianlida Law FirmMetalphaTechnology Holding, a cryptocurrency broker, pointed out that allowing individual investors to trade large market tokens on exchanges licensed by the Securities and Futures Commission was a major milestone, and those who had originally planned to go to Singapore changed their minds.Singapore's experience in trying to cultivate a trustworthy encryption business is not very encouraging. Angela Ang, who previously worked for regulatory agencies in Singapore and is currently a senior policy advisor for blockchain intelligence company TRMLabs, stated that when the regulatory system was introduced in January 2020, only 11 out of 169 encryption service providers operating in Singapore have met the licensing requirements so far. The collapse of Terra/Luna, headquartered in Singapore, has reduced local enthusiasm for the industry.Ang pointed out that the proposed regulations in Hong Kong are not significantly different from those in Singapore, and some companies wishing to enter Hong Kong may not be able to obtain permits.But Ang still maintains an optimistic attitude, saying, "The most important thing is not to forget the prospects of the underlying technology, even though it is experiencing growth pains. Hong Kong used to be a wait-and-see attitude, but now may have learned from the mistakes of other countriesCombining cryptocurrency with Hong Kong's strong financial infrastructure and the huge savings held by individual investors may create a global cryptocurrency center for an exciting new field, but of course, everything may once again "turn to ashes".Article | Jack Denton, Craig MellowEditor | Guo LiqunCopyright Notice:Original articles by Barronschna are not allowed to be reprinted without permission. The English version is reported on April 11, 2023 as' BitcoinSoarsPass $30000. WhePricesCouldKeepGoeingUp. '.(The content of this article is for reference only, and investment suggestions do not represent the tendency of Barron Weekly; there are risks in the market, and investment should be cautious.)

    2023-04-28
  • Will the Bitcoin Bull Market Come Next Year? How high will it go? 50000, 100000 or 1 million US dollars?

    Recently, with the price of Bitcoin exceeding $31000, the cryptocurrency market has been fully activated.According to market data, driven by the positive upgrade of Ethereum in Shanghai, Bitcoin rose to $31043 on April 14th, with Ethereum reaching a maximum of $2157.However, since then, the market has entered a significant downward trend. As of writing, the price of Bitcoin is $27475 and the price of Ethereum is $1842, and the market is still in a clear downward trend.Although the current market trend is in a downward trend,However, this round of rise still laid the foundation for cryptocurrencies to completely break free from the bear market cycle and provided optimism for subsequent market developments.At present, it is widely believed in the market that the cryptocurrency bull market has gradually started, especially with only one year left for Bitcoin's fourth halving and the traditional financial market facing a recession. Two major positive factors will drive the bull market to arrive early: 1、 According to the halving of Bitcoin and the bull market pattern, cryptocurrencies will usher in a new bull market next year.The halving cycle of Bitcoin is four years. The last halving occurred on May 12, 2020, and it is expected that the next halving may occur between March 2024 and June 2024. 2、 Traditional financial markets may face recession, providing a broader basis and logic for cryptocurrencies to rise.Federal Reserve policymakers expected a mild recession later this year at their March meeting, followed by a recovery in the next two years. This is the first time since 2020 that the Federal Reserve has publicly stated its expectation of a recession.The leading indicator index of the World Federation of Large Enterprises also shows that an economic recession is approaching.Justyna Zabinska LaMonica, senior manager of business cycle indicators, a think-tank, said that it was expected that the economic weakness would intensify and expand in the coming months, leading to a recession from the middle of 2023.With the view that the bull market has already started, market predictions for Bitcoin prices next year are also emerging one after another. According to market information, there are currently three main types of market predictions for Bitcoin prices: 1、 Bloomberg analysts predict that Bitcoin prices will reach $50000 in April next year.Bloomberg industry research analyst Jamie Douglas Coutts said that based on previous cycles,The upcoming halving of Bitcoin is currently reflected in approximately 50% of market quotes。 Coutts prediction,By April 2024, Bitcoin may reach $50000

    2023-04-28