Bitcoin Cash mining difficulty eased

Brand new cryptocurrency mining difficulty eased as blockchain adjusts
08 August 2017   2960
Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

Bitcoin Cash, the hard-forked version of Bitcoin, adjusted its mining difficulty after a week of its creation.

At the time of writing, Bitcoin Cash price is about $354 and the new cryptocurrency remains the forth-one in the list of market capitalization:

 Bitcoin Cash price chart on coinmarketcap.com Bitcoin Cash price chart on coinmarketcap.com 

Bitcoin Cash has a very particular rule about when difficulty can adjust downward. Rules for this are as follows:

  • Median Time Past of the current block and the Median Time Past of 6 blocks before has to be greater than 12 hours.
  • If so, it gets 20% easier to create proof of work. In other words, miners can find blocks 20% easier.
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

*Median Time Past (MTP) is just the median of the last 11 blocks. That is, put the last 11 blocks in time order and pick the middle one. This is used because sometimes blocks mined later have earlier time stamps (some technical reasons related to different clocks).

Thus, according to Coindesk, as a result of both blocks (478,647 and 478,648) having a Median Time Past (MTP) that was 12 hours greater than the six blocks prior, each block adjusted difficulty down by 20%. 

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Hence, Bitcoin Cash is now 16.7% as difficult as Bitcoin to mine. However, Bitcoin Cash needs to be worth about 1/6 of Bitcoin's price to be as profitable.

Since the difficulty adjustment, Bitcoin Cash is averaging about 18-minute blocks, implying a hash rate of around 650 PH/s. At this rate, another difficulty adjustment can be expected in about 13 days.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   434

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.