How is Hashrate Measured❔

📢 It seems that this question is very obvious, as most crypto enthusiasts use the term hashrate... But try asking your acquaintance what hashrate is measured in... Be sure, they won't answer accurately, but you will.

📌 So... hashrate represents the number of hashing or hash calculation operations performed by hardware in a specific period of time. Usually, this period of time is one second, and hashrate is measured in hashes per second (h/s, H/s). Given the high performance of modern equipment and the scalability of cryptocurrency blockchain networks, the number of operations is measured in multiples, such as kH/s, MH/s, and so on.

➡️ For example, if someone talks about kH/s, it means that the equipment performs several thousand hashing operations per second. When mentioning 2 EH/s, it denotes that two quintillion (2 with 18 zeros) hashes are produced per second. For perspective, on August 20, 2023, the Bitcoin network's hashrate was 473.4 EH/s, demonstrating the enormous computational power used in the mining process of this cryptocurrency.

❗️Interesting Fact❗️

Network difficulty is determined not by measuring hashrate but by the time it took to generate a certain number of previous blocks. In the Bitcoin network, this number is 2016. In other words, the recalculation occurs every 2016 blocks, and the difficulty is set so that finding the next 2016 blocks would take approximately two weeks.

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🟢Spain blocked Worldcoin

🟢AEVO has become another project on the Binance launchpool

🟢WisdomTree released Visa card linked to crypt

🟢The Blyth Foundation at Stanford University has allocated about 7% of its portfolio to BTC. Started buying in February for $45,000

🟢Tether has created an official recovery tool that can transfer USDT between blockchains in the event any failures


#crypto_tweets

What is a market depth chart❔

📈A market depth chart (DOM, Depth of Market) or price ladder is a list of limit orders to buy and sell securities, derivatives, commodity, or currency contracts on the exchange.

The types of orders are usually divided into market and limit orders, and there are also conditional orders.

➡️ Market orders are requests to buy or sell at any market price offered by the opposite party to the transaction. This seller's or buyer's order usually turns into a transaction immediately, except when there are no opposing offers to sell or buy.

➡️Limit orders are requests to execute transactions to buy/sell an asset at no higher/lower than a specified price. These orders make up the market depth chart and are removed from it when satisfied.

➡️Conditional orders involve fulfilling conditions set by the trader, other than limit orders.

Important! Only limit orders are visible in the market depth chart. Market orders are not displayed since they are executed instantly. Conditional orders are executed when the specified conditions are met, at which point they may become market or limit orders.

What is the market depth chart used for❔

The market depth chart is an essential tool that allows assessing the market participants' sentiment at the current moment and sometimes predicting where the price will go next. Trading based on the depth chart is used in both trading and investing, especially when dealing with low-liquidity stocks.

Understanding how to read the market depth chart enables an investor to better study the market from the inside and comprehend how the price is formed in real-time through numerous transactions. With experience, one can evaluate the imbalance between supply and demand and make predictions about the future price movement.


#Guides

Gary Gensler compared Bitcoin to a roller coaster📈

After the first cryptocurrency reached a new high, SEC Chairman Gary Gensler recalled its high volatility and gave advice to investors💰

“[Cryptocurrencies] are a highly speculative asset class. You can just look at the volatility of Bitcoin in recent days. I grew up loving roller coasters... But this is not about investing for the long haul,” he said.

On March 5, Bitcoin quotes updated ATH above $69 000, but then went into correction. The rate fell below $62 000. At the time of writing, the price has recovered, the cryptocurrency is trading around $68 000👍


#Infopost

🔔 News from the past week


💎 Cryptocurrency

🟢 MicroStrategy decided to issue $600 million in bonds to buy even more BTC

🟢 The miner sold 1,000 BTC, which he mined in 2010 at a price of $0.28 per coin

🟢 Bitcoin spot ETFs again updated a record daily trading volume of $10 billion

🟢 Arkham analysts found 19,794 BTC in the wallets of Tesla and SpaceX

🟢 Binance US lost 75% of revenue and fired 200 employees after a lawsuit from the SEC

🟢 Stock exchange operator Deutsche Börse launched crypto trading platform for institutions


💼 Financial news

🟢 OPEC+ extended reduction in oil production by 2, 2 million barrels per day for the second quarter of 2024

🟢Elon Musk conceded place of the richest man in the world to Jeff Bezos

🟢 China has set a 5% growth target GDP for 2024


🔄 Regulation

🟢 A US court has ruled that trading some cryptocurrencies on the secondary market can be classified as securities

🟢 EU fined Apple for $2 billion due to Spotify complaint


⚙️ Technologies

🟢 Tether presented a function to restore funds if your USDT ends up in a broken blockchain

🟢 ChatGPT has learned to voice its own answers

🟢 Microsoft announced the first computers with AI

🟢 DEX exchange WOOFi lost $8.75 million due to exploit



#weeklynews

📢 Crypto Enthusiast's Glossary: Common Abbreviations in the Industry 📢

➡️ ATH — abbreviation for "all-time high." This refers to the highest price an asset has historically reached since its initial listing.

➡️ BTD — "buy the dip." This is a strategy involving buying an asset after its price has dropped, assuming that the asset's price will eventually rise, allowing the trader to profit.

➡️ DAO — Decentralized Autonomous Organization. It's a corporate form whose actions are determined by predefined algorithms, and its functioning is ensured by smart contracts.

➡️CEX/DEX (Centralized/Decentralized Exchange) — centralized/decentralized exchange. A trading platform where sellers and buyers trade cryptocurrencies.

➡️DYOR ("do your own research") is a reminder for cryptocurrency investors to conduct their own thorough research on a project before investing.

➡️FOMO ("fear of missing out") — describes a trader or investor's fear of missing a potentially profitable trade. This fear can lead people to act impulsively, making investment decisions based on emotions rather than logic. FOMO can significantly impact cryptocurrency prices and cause strong volatility in crypto markets.

➡️ HODL (also HOLD) — an abbreviation for "hold on for dear life." The term describes a strategy of buying and holding an asset. A crypto trader who buys a coin and has no plans to sell it in the near future is called a "Hodler." The term originated as a variation of "hold."

➡️ WAGMI/GMI — "we're all gonna make it." In contrast to NGMI, it expresses hope and optimism about a project. Sometimes, a shorter abbreviation is used as a synonym — GMI ("we'll make it")


#Guides

🟢The Ethereum Dencun update was successful. A key outcome of this latest update will be lower network fees, which will help reduce congestion and improve scalability

🟢The EU will criminally prosecute sanctions evasion using cryptocurrencies. The corresponding directive has been adopted

🟢Nigeria requests Binance data on the top 100 local users
It was previously reported that Nigeria forcibly detained two Binance managers

🟢Drake posted on his social networks with a multi-million audience video with Michael Saylor that BTC will eat gold


#crypto_tweets

US Senators oppose SEC approval of new crypto ETFs🪙

🆘On March 11, two US senators sent a letter to SEC Chairman Gary Gensler demanding a halt to the approval of new exchange-traded funds based on digital assets, citing "significant risks."

📈The senators also urged the Commission to take "several specific steps" regarding already launched products. They demanded that brokers and Bitcoin ETF consultants be subject to enhanced scrutiny by regulatory authorities.

🏹Alexander Greve, Head of Communications at venture company Paradigm, suggested that the success of spot funds in the first cryptocurrency "clearly ruffled the feathers of the [government] elite."


#Infopost

🔔 News from the past week


💎 Cryptocurrency


🟢 The Dencun update has been activated on the Ethereum network

🟢 MicroStrategy bought another 12,000 BTC at an average price of $68,477

🟢 BNB Chain developers presented solutions for launching L2 networks

🟢 Nigerian authorities demanded from Binance data on all transactions for 6 months

🟢 Coinbase will borrow $1 billion through bond issue

🟢 The Hong Kong regulator has added the Bybit crypto exchange to the list of suspicious

🟢 The Binance Labs fund separated from the Binance crypto exchange in separate company


💼 Financial news

🟢 In 2023, the income of the top 1 oil company in the world, Saudi Aramco, fell by 25%

🟢 Telegram messenger was valued at $30 billion in case of a possible IPO

🟢 Inflation in the US increased by 0.1% in February and amounted to 3.2%

🟢 The number of corporate defaults since the beginning of the year is the largest since the 2008 financial crisis


🔄 Regulation

🟢 The European Parliament adopted a law on AI regulation

🟢 The US court ordered Changpeng Zhao to surrender his passport

🟢 The EU adopted a law criminalizing circumvention sanctions using cryptocurrencies

🟢 Apple will pay a fine of $490 million for concealment information from investors about falling sales in China


⚙️ Technologies

🟢 Elon Musk's SpaceX conducted a successful test launch of the Starship rocket


#weeklynews

What is a cold wallet for cryptocurrency❔

💰A cold wallet is a physical device or application designed for storing cryptocurrency and managing it without regular internet connection.

🕯Cold wallets only require internet connection when the user needs to perform any operation.

✔️A hot wallet implies fast or continuous connection to the blockchain via the internet. Users can deposit or withdraw funds at any time.

Cold wallets have a number of advantages and disadvantages.

➡️The key advantage of a cold wallet is providing maximum security for cryptocurrency. A wallet on an offline device ensures reliable preservation.

➡️Disadvantages of cold wallets include slower transaction speeds and less convenience for inexperienced users. Downsides may also include high traffic consumption (in the case of software wallets) and high cost.

A cold wallet is useful for organizing long-term storage, but it is not suitable for conducting regular cryptocurrency transactions due to multi-step access systems.


#Guides

🟢OKX exchange terminates the provision of services in India and asks users to withdraw funds before April 30

🟢Conflux plans to launch a stablecoin pegged to the Hong Kong dollar in 2Q 2024

🟢An investigation has been launched against the Ethereum Foundation. Details unknown.

🟢Xai and The Mix teamed up to introduce more than 100 games

🟢Lithuania-licensed crypto bank Meld will start offer tokenized assets to retail investors


#crypto_tweets

➡️JPMorgan warns that Bitcoin is “overbought” despite the recent correction! (TheBlock)

➡️Bank analysts predict a rollback of BTC to $42,000 after halving.

➡️CryptoQuant: The most active sale of BTC is observed - record values since May 2019! (traders, miners, whales)

➡️Capital outflows from Bitcoin ETF continue, in four days - $836 million!


#Infopost

🔔 News from the past week


💎 Cryptocurrency

🟢 MicroStrategy bought another 9,245 BTC for $623 million, the company’s balance sheet is 214,246 BTC

🟢 SEC postponed the decision on spot ETFs for ether from the companies Hashdex and ARK 21Shares

🟢 Cardano finally received its USDM stablecoin

🟢 Fidelity has included the possibility of staking in the application for the spot ETH ETF

🟢 Toncoin developers announced a community drop of 30 million TON ($125) million)

🟢 User assets on Binance exceeded $100 billion

🟢 Binance has denied insider trading of the BOME meme token

🟢 Kraken presented a custodial service for institutions

🟢 OKX terminates operations in India


💼 Financial news

🟢 The Central Bank of Japan increased the rate for the first time in 17 years

🟢 The Fed kept the rate at 5.25-5.50%

🟢 The US Congress voted for the budget, after 6 months after the start of the new financial year

🟢 The Central Bank of the Russian Federation left the key rate at 16%


🔄 Regulation

🟢 Chinese authorities have banned ByteDance from selling their American TikTok business after an ultimatum from the US Congress

🟢 The Central Bank of the Russian Federation warned commercial banks about the end of the unofficial moratorium on license revocation


⚙️ Technologies

🟢 A paralyzed man with an implanted Neuralink chip played chess with a computer “with the power of thought” 🕑

🟢 Apple is in negotiations with Google to integrate their Gemini AI into iOS

🟢 The developer of the Slerf meme token accidentally burned coins worth $10 million, which were intended to be dropped to the community

🟢 The game Super Sushi Samurai was hacked for $4.6 million, the hacker promises to return everything


#weeklynews

Blockchain Bridge 💎

🟧Blockchain Bridge is a specialized protocol that establishes a connection between different blockchains to transfer tokens between them.

◾️ Simply put, a bridge allows cryptocurrency users to move their assets from one blockchain network to another. Since most blockchains operate separately and independently from each other, bridges solve this problem by facilitating their interaction.

📌 To transfer tokens between blockchains using a bridge, a "wrapped token" is often used.

A wrapped token is a copy of a crypto asset existing in another blockchain network but tied to the value of the original token being sent. It gets its name because the original asset is wrapped and locked there until the token is transferred back to the original network.

Types of bridges can be divided into two categories: centralized and decentralized.

➡️Centralized bridges are managed by a central authority, such as an exchange, which requires trust from users.

➡️Decentralized bridges lack central control and provide security and trust through a distributed system.

In conclusion, it can be noted that blockchain bridges are an important tool for improving interaction between different blockchains, but their use requires consideration of risks and ensuring transaction security. However, with the growing interest in blockchain scalability and compatibility, they are becoming an integral part of the future cryptocurrency space.

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