Sweden to become next major Mining Centre

Stockholm School of Economics stated that Sweden’s bitcoin market is growing fast, due to friendly regulatory for fintech startups and cryptocurrency mining
27 November 2017   1362

According to Claire Ingram Bogusz, a researcher at Stockholm School of Economics, Sweden is already the second largest fintech centre in Europe, with venture capital firms, practical policies, and startup accelerators in place. Investors in the Swedish fintech market have started to shift to the local bitcoin market, which has seen an rapid increase since the beginning of 2016.

Sweden is among the leaders in the global bitcoin market. There’s a very high-level of knowledge about it here, and a high-level of digital competence in the Fintech space. We may not be the size of Hong Kong or London, but it’s hard to find that level of digital competence in other financial centres.


Claire Ingram Bogusz

Researcher, Stockholm School of Economics

Furthermore, a large number of bitcoin miners have started to move to Sweden, due to its cold climate that ensures a cool environment for bitcoin miners and low-cost hydroelectric power.

Another region with cheap electricity and cold climate is the region of Northeastern China. However, Chinese miners have already started to consider relocating to other regions given the uncertainty of the Chinese bitcoin and cryptocurrency markets.

Sweden has cheap electricity and cold climate that is necessary to operate mining pools, but unlike China Sweden has friendly regulatory frameworks which allow bitcoin miners to operate more efficiently, without having to deal with restrictions from local authorities.

Zcoin to Implement Hard Fork to Fight ASIC Mining

After update, which implement new  Merkle Tree Proof algorithm, the cost of mining on ASIC devices will be significantly increased
10 December 2018   97

On Monday, December 10, a planned hardfork will be held in the Zcoin cryptocurrency network (XZC), the purpose of which is to oppose mining on ASIC devices. As expected, the upgrade will take place at 12:00 GMT.

As a result, the upgrade will activate a new algorithm called Merkle Tree Proof (MTP), the development of which has been carried out over the past few years.

It is noted that the MTP algorithm provides for increased use of RAM, which significantly increases the cost of mining on ASIC devices and thereby eliminates their advantages.

The FAQ section says that before hardfork users and operators of the nodes need to upgrade to the latest version of the Zcoin software ( Earlier versions will continue to work, but the new release not only contains important fixes for various bugs, but also significantly improves network performance and throughput.

In addition, the developers warn that if after the hard forks the user still has an earlier version of the software, this can lead to incorrect display of balances in the Zcoin wallet.

Znode operators, in turn, will be excluded from the queue and will not be able to receive the award until they update the software to the latest version.

Zcoin Price
Zcoin Price

These news don't have any big effect on Zcoin's rate.