Bitcoin mining is not a major topic in the crypto news anymore but today we can see that Norway is deciding to end all electricity subsidies for all Bitcoin mining farms and facilities according to a Norway’s newspaper report.
Mining farms up until today paid a pretty low rate of $0.05 per kilowatt. There is a huge possibility that this fee will be increased up to 16.58 Norwegian Krones per kilowatt starting from January 2019. A representative for the Socialist Left Party Lars Haltbrekken argued:
“Norway cannot continue to provide huge tax incentives for the dirtiest form of cryptocurrency output […] [Bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally.”
With the current electricity subsidies, Norwegian miners can mine Bitcoin at $7,700 per coin according to a German company that mines cryptocurrencies in Norway. The domestic industry interest group ICT Norway has criticized this action of the government by saying:
“This is shocking! [To change] framework conditions without discussion, consultation or dialogue with the industry. Norway scores high on rankings of political stability and predictable framework conditions, but now the government is playing a gambling role with its credibility.”
On the other hand, there are plenty of people who agree with this government policy. The CEO of Oslo-based blockchain advisory group Blockchangers believes that less mining will reduce the price for all companies that pay high electricity bills.
The more miners that are joined in the Bitcoin network won’t improve the speed of the network or the scalability. The only thing that the miners contribute is the securing of the network further.
According to a crypto report by Diar, only big companies in the industry are making huge profits of bitcoin mining. Other, small ones are paying huge electricity prices and end up having negative revenue.
Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”According to the filing, content creators would keep the ownership of their data on the "mapping" platform:
“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”This is just one more patent application in the series that were submitted by companies such as Xerox, American Express, IBM and others - and a new milestone for AT&T overlooking its expansion in the field of blockchain.
Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
LinkedIn’s Largest Growing Job Sector Is Blockchain Development
“It’s no surprise that we’re seeing an explosion of machine learning roles and continuing growth of data science roles. In fact, we started to see glimmers of this in last year’s report; however, both fields are starting to see more specialized roles emerge. It also may not shock you that Blockchain Developer is topping the list following this year’s surge in interest around blockchain and cryptocurrency.”The great news for all of the people interested in a career in this sector is that there are plenty of universities now that adopt blockchain-related courses which help to boost the blockchain expertise in the following years.
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- Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
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