OKEx to Launch Community-Driven Exchange

The own token of the CoinAll exchange will be mined using the trans-fee model
08 August 2018   659

Bitcoin-exchange OKEx has announced the launch of the CoinAll cryptoexchange platform, operating according to the "white label" scheme.

The launch of CoinAll, the 1st exchange under Open Partnership Program, symbolizes a new era to build a community- and project-centric open exchange, unveiling an exciting new chapter in the blockchain industry!
 

OKEx Team

The launch of the new site took place as part of the Open Partnership program, which started work in June.

Thanks to CoinAll, Open Partnership participants will be able to use the opportunities and services of OKEX, in particular, the clearing system, cold and hot wallets, AML / KYC procedures.

CoinAll also issued 10 billion CAC tokens: 51% will receive users as a reward, and 49% - co-founders of the exchange and members of the Open Partnership program. The coin will be mined using the trans-fee model, which is the mechanism for receiving tokens issued by the exchange as a reward for trading activity of traders.

At the moment, trading pairs of CAC with bitcoin, Ethereum and Tether (USDT) are available on the site.

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   166

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.