New Cisco's Patent Can Be Applied for BTC Mining

Patent is for "Crowd-sourced cloud computing" system
26 April 2018   1549

Cisco received a patent which can be applied to the mining of bitcoin, CoinDesk reports.

According to the US Patent and Trademark Office, Cisco filed a patent application for the "crowdsourcing system for cloud computing" back in September 2015. It describes how people can offer the unused computing resources of their PCs for various tasks, including energy-intensive mining.

As stated in the application, for this the user can share his resources and thereby create a dedicated computing system that can be used as a "cloud". Later, this "cloud" can be used for other tasks.

This model is suitable for, among other things, offering distributed processing and services that can be optimized for speed, volume, scale and resiliency, cost, and regulatory compliance--for example, distributed neighborhood theft protection systems, or cluster, city or municipality county relevant services... One such case involves bitcoin mining, which may be very computational intensive and is typically more convenient for every participant when done in 'mining pools.

Cisco's Patent

Cisco also reported on the advantages of distributed computing, such as ease of scaling and resistance to certain types of attacks. In addition, the company writes that "the service provider can use geographic distribution to offload or optimize network loading, as well as to resell large-scale, low-cost computing and storage capacity."

Cisco is one of a number of enterprise technology companies researching applications of blockchain, particularly in the area of connected devices or the Internet of Things.

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   120

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.