Google Co-founder to Highlight Mining Impact

Sergey Brin believes that cryptocurrency mining gave impact to the "computing boom"
02 May 2018   1517

Google's co-founder Sergey Brin sent a message to investors following the results of 2017, in which he noted that the demand for powerful computers used for the mining cryptocurrencies became one of the main factors of the "computing boom". This is reported by Coindesk.

According to Brin, several factors contributed to the surge of computer technologies around the world. Firstly, it is the "steady hum of Moore's law", according to which the number of transistors placed on an integrated circuit chip doubles every 24 months.

The second factor was the growth in demand for high-performance computers with powerful video cards for games and, "surprisingly, from the GPU-friendly proof-of-work algorithms found in some of today's leading cryptocurrencies, such as Ethereum." Brin said.

However, according to the co-founder of Google, none of these factors has become important. So, the most important role in the "computing boom" was played by machine learning and using the large amounts of data technologies necessary for the development of artificial intelligence systems that are able to drive cars, recognize faces or translate texts without human participation, Brin believes.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   112

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.