Blockchain Needs Centralization, Chinese SEC Believes

An official from one of China's financial regulators believes that blockchains are better without full decentralized
06 March 2018   714

A Chinese official from the financial department, speaking at a Beijing state conference said that a completely decentralized blockchain  is not the most optimal solution. This is reported by CoinDesk.

Speaking at the People's Political Consultative Council of China as a policy advisor, the head of the technology department of the Chinese Securities Regulatory Commission, Zhang Ye, called on China's public sector to use advanced technologies such as AI and blockchain to provide state services.

But with one caveat - although Chiang believes in the potential of the blockchain, it is necessary to use a centralized infrastructure to fully realize its capabilities.

Blockchain's advocates for absolute decentralization have no solid ground, because [blockchain] itself is a software developed in a centralized way. So is the public key infrastructure, which remains an important feature adopted by blockchain. The key is to explore how to achieve decentralization through a centralized infrastructure.

Zhang Ye

Head of the technology unit, China's Securities Regulatory Commission

According to Zhang, in some cases, decentralization can really do more good, but he doubts that absolutely all the blockchain should be decentralized.

In addition, according to Li Lihui (former president of the Bank of China, and now - head of the blockchain research department at the Chinese National Association for Financial Activity on the Internet), many of the current blockchain projects are designed, in fact, using a variety of centralized elements and without full decentralization

Giant Mining Solar Powered Farm to Created in California

Plouton Mining will allocate solar panels on 49 acres and it's planned they should generate about 10-13 megawatts per day, working for an average of 12 hours
26 June 2019   54

Plouton Mining, a subsidiary of Plouton Group Holding, intends to open the largest Bitcoin farm in North America for mining, whose operations will be provided by solar energy. To this end, the firm chose a territory in the western part of the Mojave Desert, California.

Plouton Mining will place solar panels on 49 acres: they should generate about 10-13 megawatts per day, working for an average of 12 hours. The company stressed that Western Mojave receives sunlight for 70% of the year.

The company will also sign the necessary contracts with local electricity suppliers in order to operate the farm in the absence of solar radiation.

Meanwhile, the bitcoin hashrate has again updated the historical maximum at 66.666 EX / s.