BitShares 2.0 announced

BitShares has announced a major update BitShares 2.0
04 June 2017   2968
BitShares

Is a software company working on financial solutions built on a blockchain, such as decentralized asset exchanges, banking, project funding

The BitShares development team unveils their biggest announcement since launching one year ago: the upgrade to BitShares 2.0.

BitShares has been operating for about a year, and the community has identified numerous problems which are currently holding the system back from its full potential, such as slow performance, high resource requirements, non-standard market matching algorithm, lack of flexibility of system parameters, etc. 

That's why this update is to be the next one in the evolution of BitShares as it incorporates all of the feedback and lessons learned from the BitShares stakeholders, partners, developers, marketers, and other community leaders throughout the year of research and development, the company reports in its blog. 

According to the announcement made, a brand new BitShares codebase has been rebuilt from the ground and BitShares 2.0 was designed to address all of the above issues. The report says that by upgrading, the community will experience:

  • A new high-performance protocol and engine, capable of handling over 100,000 transactions per second.
  • A new user-friendly hosted wallet interface.
  • Brand new financial smart contract features.
  • A new set of tools for community feedback.
  • A new viral growth model.
  • Robust testing infrastructure designed to prevent bugs and regressions.
  • A new developer-friendly and extensible codebase.

To learn more details about BitShares 2.0 see the official company's report.

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   63

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.