RCN to give virtual land owners access to credit

Ripio Credit Network has partnered with Decentraland, a virtual reality platform powered by the Ethereum blockchain
19 December 2017   921

Yesterday Ripio Credit Network (RCN), a global peer-to-peer credit network based, which are backed by Ripio, announced that it has partnered with a virtual reality platform powered by the Ethereum blockchain called Decentraland.

RCN partners

Recently RCN announced partnership with Aelf and FBG Capital to build a virtual Silicon Valley, where projects can form collaborative workspaces, hold Meetups, announce breakthroughs directly to their communities, connect with a global investor base, and interact with potential partners. It is stated that it will also serve as a hub for blockchain enthusiasts around the world.

We’re very excited to work with the RCN team. By integrating our services, Decentraland users will have newfound access to credit, augmenting their ability to invest in their virtual endeavors.

 

Ari Meilich

Project Lead, Decentraland

Decentraland users are already using cryptocurrency to purchase virtual land. Under the partnership, companies intend to find a way to give landowners access to credit, for instance using other digital assets as collateral, would allow them to expand their businesses and offerings at greater speeds.

Our goal is not just to build new standards in global credit services, but also to give birth to a global lending ecosystem that can connect people on any currency, no matter if they trade in the real or the virtual world. Our alliance with the Decentraland team is a huge step towards this objective.

 

David Garcia

SVP, Ripio Credit Network

The implementation of the RCN protocol into Decentraland is expected by the second quarter of 2018.

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.