China Crypto Roundup (Sept 7- Sept 14): ETH Withdrawal Frenzy in China as DEX Mining Runs Rampant, Bitcoin Miners in Short Supply in China, China’s BSN in Line With Open Finance Concept

Sep 14, 2020

The top stories from the Chinese cryptocurrency sphere this past week includes: ETH stocks in centralized exchanges are declining rapidly as DEX mining runs rampant, Bitcoin miners in short supply as Chinese manufacturers’ capacity inadequate, China’s BSN, digital silk road in line w...

Defi Frenzy Makes ETH Miners Laugh

Aug 13, 2020

As the decentralized finance (DeFi) sector is booming at a startling rate, ETH transaction fees are also skyrocketing with the price of moving tokens around on the Ethereum blockchain continuing to balloon. Data shows that the transaction fees have recently accounted for over half of the ...

Ethereum’s Scale is Preventing More DeFi Adoption and Usage

Jun 28, 2020

With the advent of Ethereum, and then subsequently the DeFi industry, adoption became a much hotter topic as the newly created tokens promised all of the possibilities and financial freedom without banks and institutions to control them. And now, as we’ve entered into the second half of 202...

How Wrapped Bitcoin trading is evolving on Kyber

May 15, 2020

Wrapped BTC (WBTC) surges as it becomes an accepted collateral asset Wrapped Bitcoin (WBTC) went live on Ethereum at the beginning of 2019. It is an ERC-20 token backed 1:1 with real Bitcoin and is intended to capture the benefits that can result from the tokenization of the B...

Chinese Court Rules Ethereum As Legal Property

Apr 22, 2020

A court in Shenzhen city has passed sentence for an Ethereum theft case recently, ruling that Ethereum token is protected by law as legal property with ‘economic value’, and Chinese citizens are not barred from owning and transferring them. Li, the defendant, took the position as a bloc...

How the Ethereum DeFi Ecosystem Reacted to Coronavirus?

Apr 10, 2020

March 2020 witnessed the most volatile day in the price of cryptocurrency ever. Hence it was no surprise the Ethereum DeFi dapp category – as tracked by DappRadar also experienced an all-time high in terms of daily active unique wallet activity. As previously discussed. 12 March 2020 sa...

Ethereum to Implement ProgPoW ASIC-Resistance? No, It is Misunderstood!

Feb 25, 2020

Previously reported that Ethereum is expected to implement the controversial EIP 1057, ProgPow, in July, changing its mining algorithm in favor of GPU mining. However, according to A Jian, the editor in chief of Ethfans, the EIP-1057 protocol involving ProgPow was not without ...

Chinese Crypto Exchange Huobi Processed 50% of All PlusToken Withdrawals

Aug 25, 2019

Chinese crypto exchange Huobi has been heavily favored in PlusToken withdrawals with nearly 50% of all withdrawals sent to the exchange, according to a study released by Elementus, a New York-based blockchain infrastructure firm. As 8btc reported earlier this month, PlusToken’s mass bi...

Where Bitcoin to Go following Donald Trump’s Chinese Tariff Threat

May 7, 2019

Bitcoin has seen its price moving close to $6,000, remaining unaffected by the U.S. president Donald Trump’s Chinese Tariff threat which has led global assets especially stocks in red chaos. Despite the widespread assumption that trade talks are progressing smoothly and the bilateral neg...

F2Pool Analyse 13 Million GPUs in Crypto Mining And 8 Million in Actual Working

Mar 20, 2019

F2Pool, world’s second largest crypto mining pool based in China, has recently released an analysis that about 13 million graphics cards (GPU) have been put into crypto mining, among which 8 million are in active operation at present. GPU miners mainly focus on ETH and ZEC before ...