This Week in Coins: Ethereum Outpaces Bitcoin as Markets Thaw
Seven-day price action remained mostly positive even as industry news ... did not.
Ethereum Wallet MetaMask, Solana’s Phantom Patch ‘Demonic’ Security Bug
Solana wallet Phantom announced Wednesday that it’s rolling out a new update next week to further strengthen its security after it patched a “demonic vulnerability” discovered by blockchain cybersecurity firm Halborn in May of last year.
BIT Mining reports 40% dip in revenue
For the second day straight, a significant number of the stocks followed by The Block shut in the green, with Northern Data, Hut 8, and Riot posting the most noteworthy recuperations, of +12.29%, +9.09% (on Nasdaq), and +7.58%, separately.
As Bitcoin Price Slides, Older Mining Rigs Are Becoming Less Profitable
Mining a Bitcoin block just became easier because some miners have been dropping out of the network to cut their losses The difficulty of mining a bitcoin block fell by 4.3317% to 29.897T at 15:02 UTC on May 25. The bitcoin mining difficulty automatically adjusts every two weeks or so, depending on…
As Terra Dies and Forks, Protocols and Projects Move to Polygon
Polygon Studios CEO Ryan Wyatt shared via Twitter yesterday that Polygon—a sidechain built to compliment and help scale Ethereum—is launching a “multi-million dollar fund” called the Terra Developer Fund to help Terra projects move from Do Kwon’s now-infamous and failed blockchain onto Polygon.
Coinbase Becomes First Bitcoin Company Among Fortune 500
Coinbase ranked second overall in revenue growth among companies on the list, at 514%, trailing only Moderna.
French Luxury Brand Balenciaga to Accept Bitcoin, Ethereum as Payment
Crypto is another step closer to mainstream acceptance as a payment method—if buying $1,250 hoodies that come pre-destroyed can be considered mainstream, that is.
Uncovering “Mining”: Detailed Explanation of ASIC Miners?
Abstract: In recent years, with the gradual rise of encrypted digital currency, Bitcoin (Bitcoin, BTC), as the representative of encrypted digital currency, has attracted widespread attention. The Proof-of-Work (POW) mechanism that Bitcoin is based on stipulates that the miners who are the first to solve complex mathematical problems can obtain…
India’s Cryptocurrency Sector Needs ‘Peace’ and ‘Certainty’: CoinSwitch CEO
CoinSwitch CEO Ashish Singhal on Sunday called for clearer rules to resolve the regulatory uncertainty in India's cryptocurrency space.
Do Kwon Isn’t Done Yet
Some saw it coming. In 2018, Cyrus Younessi, an analyst at crypto investment firm Scalar Capital, saw UST’s white paper and immediately warned his boss. The algorithm pegging Kwon’s stablecoin to the greenback, Younessi said, could one day fail and cause a “death spiral” if Terra’s ecosystem was drained of capital too…