In the latest Ethereum news which is centered around mining, a couple of Ethereum miners and developers have come up with a plan to stop the specialized mining hardware from effectively operating the network.
Even though the plan is prepared since April, the initiative is in its peak activity right now – aiming to break the controversy surrounding application-specific integrated circuits (known as ASICs) on Ethereum – which rose after the news that a new line of specialized mining hardware is apparently claiming to generate more than six times as much profit as the one of its main competitor, the mining giant Bitmain.
As soon as the news spread, many developers and miners began finding ways to stop the growing use of ASICs on the network. According to them, if these continue to be pushed on the market, the smaller miners would be dumped. That is why some proponents even called for an all-out “strike” by GPU miners.
As one GitHub user named “Mdaria510” wrote:
“The only plausible way forward for GPU miners is to ‘go on strike’ and commit to continuing to mine the existing chain and undermine the unity of ethereum and force compromise.”
Another user also supported the initiative and said that requests from the Ethereum mining community to implement ASIC-resistant measures have been “blatantly ignored” and promised to join the revolt with their hash power.
Some Ethereum developers have stated that they are preparing a code change that is targeted at the growing number of ASICs – which could be implemented as part of a system-wide network upgrade.
Cryptopia Hackers Are Moving The Funds In At Least Four Wallets
“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. […] Given the complexities involved we expect the investigation to take months rather than weeks.”As the new analysis by CoinFirm notes, the hackers are moving the cash into separate wallets including the two CoinDesk which found that were directly connected to Huobi. “The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH,” said CoinFirm’s Grant Blaisdell in a statement that went viral in the coming altcoin news. Two other addresses were also reported by many best cryptocurrency news sites - showing that they received a combined 1010 ETH while another 10 ETH landed in what appears to be a Huobi deposit address and a Huobi hot wallet. This means that the Cryptopia hackers are preparing to pull cash out through these exchanges. Even though there is no telling what is exactly happening to this Ether as it moves from one wallet to another, it is certain that the $16 million is not going to sit still for long.
Ethereum Price Analysis: ETH Is Weak But Could Start Upswing Soon
Ethereum Possession: 376 People Own 33% Of All ETH
“These preliminary findings are consistent with the literature on stock market prices and volatility,” the report on Ethereum possession concluded. “Academics have found that large anomalous fluctuations in traded volumes of particular stocks, notably the S&P 500, tend to impact volatility and not price levels.”
Ethereum (ETH) Price Surges By 9% Following The BTC Rally
“After breaking the much anticipated 6000 level BTC still looks amazing. Trend, momentum and sentiment are all clearly bullish. That said it’s at resistance and a pullback would make sense. I’d much rather be a buyer at support than a seller at resistance.’’The best cryptocurrency news sites reported on the sentiment around bitcoin and the rest of the crypto market. It seems that the community is generally optimistic. The analysts can predict that the major cryptocurrencies will sustain the momentum in the medium term just as the Ethereum (ETH) price managed to do so. The co-founder of Ethereum Joseph Lubin declared back in 2018 that the bottom of the crypto market is here just when the price of the largest cryptocurrency reached $3,150. Lubin stated that the fear is intensifying about the future of crypto and noted:
‘’I am calling the cryptobottom of 2018. This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates. What I’ve witnessed among the chattering class the past few weeks in response to ConsenSys 2.0 is a rather typical tune: the alarmed, the eulogistic, and the gleeful.’’Since then, the Etehreum (ETH) price surged by 70 percent year-to-date.
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