Search Results for: Blockstream

Blockstream plans to release their long-awaited ASIC miner in Q3 2024, after acquiring mining hardware manufacturer Spondoolies in 2021. The delay allows for thorough testing but may cause disappointment among followers, affecting the community’s perception of the overall blockchain and cryptocurrency market.

Ethereum’s co-founder, Vitalik Buterin, recently debated Bitcoin’s future prospects with Eric Wall and Udi Wertheimer, well-known Bitcoin enthusiasts. The conversation centered around Bitcoin’s scalability, with Buterin suggesting a multi-pronged approach involving various layer-2 solutions and improvements to Bitcoin’s base layer. The suggested introduction of zero-knowledge rollups, a technology potentially impacting Bitcoin positively, sparked mixed reactions within the community.

CleanSpark has agreed to purchase two ready-to-use mining facilities in Dalton, Georgia for $9.3 million, adding nearly 1 exahash per second capacity to its fleet. This acquisition aims to exceed the company’s year-end target of 16 EH/s, positioning CleanSpark as one of the most power-efficient miners concerning energy-per-hash rate.

NASDAQ-listed Bitcoin mining firm Iris Energy aims to increase its hash rate capacity by 63% to 9.1 EH/s by early 2024, utilizing its 80MW data center in Texas. The company’s shares surged 21% following the announcement, reflecting a growing interest in the blockchain industry. Iris Energy also explores opportunities in energy-intensive compute applications such as AI.

Burak Keceli, a self-taught Bitcoin developer, has proposed a new layer 2 protocol called Ark that aims to solve Lightning Network’s “inbound liquidity” problem. Ark utilizes service providers to offer continuous liquidity services for a fee, potentially complementing, rather than competing with, the Lightning Network.

Foresight Ventures has allocated an additional $10 million to its accelerator program, targeting emerging Web3 projects. Offering $200,000 fixed investments, valuable mentorship, and guidance, Foresight Ventures aims to fuel growth in areas such as ZK systems, AI, machine learning, liquid staking derivatives, Bitcoin, and NFTs. However, the sustainability and appeal of such projects remain uncertain amid a decline in VC funding.

Bitcoin’s growing number of “wholecoiners,” or addresses holding at least 1 BTC, indicates potential shift towards hyperbitcoinization, where Bitcoin replaces traditional financial institutions as the dominant value system. However, debates persist on the superiority of centralized fiat systems for everyday transactions and challenges including cybersecurity remain in the crypto market.

Hardware wallets play a pivotal role in securing private keys and ensuring the safe storage of valuable digital assets. Recent concerns about Ledger’s controversial firmware update led competitor GridPlus to announce open-sourcing its firmware, promoting transparency and urging other manufacturers to follow suit. The debate highlights the importance of striking a balance between privacy, security, and trust in the cryptocurrency industry.

Ledger faced backlash after introducing Ledger Recover, raising concerns about closed-source firmware and data leaks. Competitors Blockstream, Trezor, Cold Card, and BitBox slashed prices, emphasizing privacy and self-custody. The situation highlights trust, privacy, and user preference when choosing crypto wallets.

The Bitcoin ecosystem is on the brink of a layer 2 “Cambrian explosion” driven by new features like covenants and script updates. A technological renaissance in the form of Bitcoin non-fungible tokens (NFTs) through the Ordinals protocol is underway, with 3.3 million NFTs created in under five months.