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[PoW Round-Up] Bitcoin hashrate recovers, Ethereum final testnet merge scheduled

BTC and ETH mining revenues rising, Ethereum merge test on Goerli, and more.

Learn about industry news, development updates, community happenings, and other aspects of the PoW world!

Mining industry

Bitcoin

The Bitcoin network difficulty decreased by 5.01% last week, the third consecutive drop since late June. Following a coin price recovery and lessened hashrate competition, the mining revenue has returned to $0.11 per 1 TH/s, compared to $0.09 two weeks ago.

The hashrate is around 210 TH/s at the time of writing, which is also a significant increase compared with 182 TH/s back on 2022–07–15.

Ethereum

Ethereum mining revenue has just reached the highest level since the beginning of June to $0.025 per MH/s, achieving a 47% surge, compared to $0.017 2 weeks ago, with the aid of the gains in the ETH price. However, as the merge is getting closer, the hashrate and difficulty in the network have remained flat at the level two weeks ago.

Dev and network

Ethereum

The merge test on Goerli, the last testnet merge, has been announced and is estimated to happen between 2022–08–06 to 2022–08–12. The time of the merge on the mainnet has not been decided yet.

Dogecoin

Dogecoin Core 1.14.6 has been released. This is a new minor version release, which includes important security updates and changes to network efficiency.

Application and adoption

Bitcoin

The Secretary of Finance and Planning of Brazil commented on the city’s Bitcoin integration plans in an interview.

Lightning network’s capacity has hit 4,387 BTC at the time of writing, achieving a growth of 10% in the last 30 days which is also a new all time high. Follow the latest data on 1ml.com.

Ethereum

MetaMask mobile will be compatible with the Ledger Nano X in an upcoming release.

Polygon, Ethereum’s layer 2 solution, has announced a complete implementation of the fully open-sourced zkEVM. It is EVM-equivalence, which means that any smart contract or dev tool that you can use on Ethereum can also be used on Polygon zkEVM.

Kadena

Through the partnership with Lago Finance and KdSwap, USDC has arrived on the Kadena network as its first stablecoin being traded in its DEX. Read more.

Horizon

TokenMint is now live on the mainnet. This is the alpha version of the TokenMint platform, which offers the basic functions for creating a fungible token. Learn more about its components here.

Nervos

CKBull, a mobile wallet for CKB has published its iOS and Android versions. This wallet supports sending transactions, collecting NFTs and staking the DAO all in one place.

Community and more

Bitcoin

The community just had a wonderful week at the Mining Disrupt Conference. Review what was happening on their Twitter account.

Ethereum

At the recent EthCC5 event, Vitalik spoke about the long term future of Ethereum. Check out the video, or view the transcript to learn more.

This August will be filled with Ethereum events in different cities. ETH Seoul is happening from 2022–08–05 to 2022–08–07, followed by ETHToronto from 2022–08–08 to 2022–08–10, and ETHMexico from 2022–08–19 to 2022–08–21.

The Merge Community Call #6 has been scheduled on 2022–08–12, after the Goerli merge test.

Decred

Decred’s Journal of June has been released. The voting on treasury spends is back, while seven proposals on Politeia, DCRDEX Ethereum smart contract audit and more have happened in the past month.

Kadena

Kadena Eco has announced its first grant cohort, which includes team building infrastructures, developing tools and NFTs. In addition, they are now searching for their second grant cohort.

The PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem.

Monitor and help secure the PoW world with f2pool!

About f2pool

f2pool is a geographically distributed mining pool that has been helping miners around the world secure Bitcoin and 40+ other PoW networks since 2013.

Website: https://www.f2pool.com

Blog: https://f2pool.io/mining/insights/

Twitter: https://twitter.com/f2pool_official

Reddit: https://www.reddit.com/r/f2pool/

Discord: https://discord.gg/uNHskjvnbE

LinkedIn: https://www.linkedin.com/company/f2pool/

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F2Pool is the leading Bitcoin, Ethereum and cryptocurrency mining pool. Our mission is to make mining simple and profitable for all.