How blockchain helps farmers?

Grass Roots uses Ethereum blockchain technology to become more open for their customers
05 August 2017   1487

Grass Roots, a farm cooperative, now uses tracking app, based on the Ethereum blockchain. This is reported by the ETHNews.

The application is developed by the British technology company Provenance. It gives buyers the opportunity to trace the products route by scanning the QR code. It shows whole products way - from the farm to the supermarket.

In an age where skepticism may very well be at its peak, Grass Roots is working to improve access to information so that customers feel empowered by their choices, not encumbered by them. We hope that by verifying our foods on the blockchain, we establish trust that allows our customers to eat with confidence.
 

Cody Hopkins
General Manager, Grass Roots

According to the Jessi Baker, CEO of Provenance, his team is aiming to enable proving the great things about products in a trusted way.

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   75

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.