Bitcoin mining expenses surge 168% amid capacity growth

A former employee at Microsoft has been found guilty of 18 federal felonies in connection with a complex scheme to embezzle $10 million using cryptocurrency.The man — a 25-year old Ukrainian national, Volodymyr Kvashuk — worked as a full-time software engineer at the firm from August 2016, before being fired in June 2018. Kvashuk was convicted…

Nonfungible tokens (NFTs) may be the biggest driver of crypto adoption in Central, Southern Asia, and Oceania (CSAO), a new report has found. According to a Sept. 21, Chainalysis post titled “Crypto Adoption Steadies in South Asia, Soars in the Southeast,” NFT-related actions accounted for 58% of all web traffic going to cryptocurrency services from this…

The United States Securities and Exchange Commission (SEC) has reached a settlement with Block.one to pay $24 million in penalties for conducting an unregistered initial coin offering (ICO).On Sept. 30, the SEC announced in a press release that it has settled the charges against the firm behind the EOS network and corresponding token in the…

The latest consensus mechanism upgrade is expected to improve several aspects of the network’s security and key operations while making it even more environmentally friendly. 1402 Total views 33 Total shares Supply chain tracking network VeChain has just upgraded its consensus mechanism to what it claims is the “world’s greenest” method of verifying blocks on…

As Venezuela’s economy continues to endure hyperinflation, more businesses start accepting crypto. Over 20,000 shops and enterprises in Venezuela will reportedly start accepting crypto by June 1. This news was made available as part of an effort to drive crypto adoption in the hyperinflation-stricken country. Earlier today, Panama-based cryptocurrency merchant gateway startup, Cryptobuyer, announced a partnership…

Blockchain technology will most likely be standardized by 2021, according to American business and financial services company Moody's.Per the research report published on Sept. 5, these standards will probably be established in the blockchain industry by 2021 and will be positive for “future securitisations using the technology.” The company claims that this could result in…

Reports last week had claimed that Nexon was poised to acquire the exchange at an evaluated price of roughly $460 million. 2223 Total views 11 Total shares Major gaming conglomerate Nexon will not be acquiring leading South Korean crypto exchange Bithumb, as previously alleged in local media.In an email to Cointelegraph, a representative for Nexon said…

While many pundits have labeled Solana (SOL) as an "Ethereum killer" due to its lower fees and faster transaction times, Solana Labs co-founder Raj Gokal said the project has no desire to kill the cryptocurrency — and wouldn’t be able to if it did.Gokal made the comments in response to a Nov.10 Twitter post from…

With pundits like Twitter CEO Jack Dorsey predicting that Africa “will define” the future of Bitcoin (BTC), cryptocurrency and blockchain technology continue to attract interest from both public and private establishments across the continent. Many of these adoption cases have been moving beyond finance, developing solutions targeted at issues like unemployment, identity management, health care and supply…