[PoW Round-Up] Against inflation by storing value in Bitcoin
Development on Bitcoin, mining revenues and community events.
Learn about industry news, development updates, community happenings, and other aspects of the PoW world!
The Bitcoin mining revenue has been keeping the same level since the sharp decrease about one month ago, with every 1 TH/s generating $0.09 currently. This aligns with the trends of the price and the hashrate scale.
The latest difficulty was adjusted one week ago with a -1.41% change, with an average hashrate of 208 EH/s in that two-week cycle.
The mining revenue is now around $0.017 per 1 MH/s, which has increased by 13% compared to $0.015 one month ago.
Ethereum’s hashrate is now around 900 TH/s, which also did not change a lot in the past 3 weeks. However, with the difficulty bomb being delayed, the miners’ ETH rewards have increased under the same hashrate scale.
Development and network
Blockstream has shared their current progress on the research into the half aggregation of Bitcoin’s Schnorr signatures. They provide a draft BIP with a formal specification that can be used to prevent multiple classes of security issues, and potentially will assist formal software verifications in the future.
As the Gray Glacier upgrade, which pushes back the difficulty bomb, has been deployed in the mainnet, Ethereum’s block times have been back to around 13 seconds. Daily block productions have jumped back by around 20% compared to those a week ago before the upgrade.
The merge test on Sepolia testnet and the mainnet-shadow-fork-8 has been completed successfully. On 2022–07–14, the network has also completed the mainnet-shadow-fork-9 successfully, which will include the MEV-boost test.
To catch up with some major dev progress in Ethereum, you may check out Tim Beiko’s latest AllCoreDevs Updates.
The initial design for light clients was shared by David Burkett in the June update of Litecoin development. Check here for the details.
Hathor released v0.49.0 of its full node. This version introduces an initialization speed up and a new UTXO API.
Application and adoption
The New York Yankees partners with NYDIG to allow its employees to be paid in Bitcoin. Employees of the Yankees organization are offered access to NYDIG’s Bitcoin Savings Plan (BSP), which allows the employees to convert a portion of their paychecks to Bitcoin.
MakerDAO has approved a proposal to create a DAI vault for Huntingdon Valley Bank, with a ceiling of $100 million, as a new collateral type in the Maker Protocol.
Hathor has updated its statistics page and introduced a new way to dive into historical blockchain data.
DigiNode Tools v0.2.1 is live. It allows restoring DigiByte wallet and DigiAsset Node Settings from your USB drive backup.
X-Wallet, a web extension wallet on Kadena has recently released its mobile app on the Google Play store.
Lago.finance, which builds DeFi infrastructure on Kadena, recently shared a sneak peak at the upcoming bridge between Ethereum and Kadena.
Nervos launched the new and improved Nervos Layer 2 — Godwoken on its mainnet with features including being 100% EVM-compatible, zero whitelisting, incredibly low fees and fast transactions.
Community and more
In 12 years, Bitcoin has grown by 200 million % while some fiat money has been losing value over time, not to mention the recent huge inflation of 9.1% in June. To roll back fiat inflation, you do not need to have a time machine, try Bitcoin.
Ethereum Community Conference 5 (EthCC) will be hosted from 2022–07–19 to 2022–07–21 in Paris.
The Merge Community Call #5 will be hosted on 2022–07–15. Testnets, block time change, and more will be discussed in the call.
Litecoin announced Litecoin Summit 2022, which will take place in Las Vegas this October.
The latest Ethereum Classic Community Call has taken place, and various issues reflecting on recent updates, infrastructure, products, social media, and more, have been discussed.
Horizen’s ZenCon0, the first Horizen ecosystem summit, is going to be hosted in Milan this September.
Xaya announced its new logo and website.
Sia foundation’s Q2 Transparency Report has been published, with highlights including being recognized as a 501(c)(3) public charity, sponsoring the MIT Bitcoin Expo and the Sia v1.5.8.
The PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem.
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