Bitcoin Scrypt to Undergo Hard Fork

BitcoinScrypt announced that it will have a Kimoto Gravity Well hard fork which is scheduled for Feb 19, 2018
19 February 2018   397

BitcoinScrypt aims to decentralize mining by moving from a pure Proof-of-Work consensus algorithm, to a hybrid Proof-of-Stake consensus algorithm. Further, it plans to decentralize Bitcoin-sCrypt coin development by adding CryptoVoter blockchain voting functionality directly to the wallet client to allow for blockchain voting on development issues so that the community can vote on the direction of the coin.

As it was announced on the official website of BitcoinScrypt, it will have a Kimoto Gravity Well hard fork which is scheduled for Feb 19, 2018. All clients are recommended to update to Bitcoin-sCrypt v.1.6.0 before the fork.

Bitcoinscrypt countdown at the moment of pressBitcoinScrypt hard fork countdown at the moment of press

All Bitcoin-sCrypt coins existing before the hard-fork will continue to exist in their same wallets and addresses after the hard fork, and users just need to download the latest wallet client.

At the moment of press, these are main market parameters of Bitcoin Scrypt:

Average price: $0,138057
Market cap: $2 302 076
24h volume: $15 015

Miners Arrested in 2 Chinese Cities For Power Theft

Six people were detained in Tianjin and two in Wuhan
25 April 2018   91

Bitcoin miners were arrested in two Chinese cities on charges of stealing electricity. This is reported by CoinDesk.

In the first case, 6 people were detained in Tianjin. The suspects used 600 devices for mining bitcoins that were connected to a local substation. The police claim that the connection was made bypassing the counters.

The investigation was initiated after one of the electric power companies discovered a discrepancy between the actual and claimed consumption of electricity.

The police seized all equipment for mining, as well as 8 powerful fans.

Events are taking place while China continues to play a dominant role in the mining of bitcoin, despite the pressure on the cryptocurrencies. As Xinhua notes, this case of electricity theft turned out to be the largest in recent years.

According to another report, which appeared today on the website of the Supreme Prosecutor of China, two more suspects were detained in Wuhan. They also stole electricity.

The detainees used empty stores since March 2017 to house miners and did not pay for electricity, as did the defendants from Tianjin.