London upgrade is completed and mining revenues stabilized. Draft Bitcoin Banking regulation released pushing adoption even further.

Learn about industry news, development updates, community happenings, and other aspects of the PoW world.

Mining industry

Bitcoin

The latest network difficulty was adjusted by an increase of 7.31% to 15.56 T. During the last 2 weeks cycle, the average block time was 9 mins 19 secs.

As a result of price climbing and hashrate growth, the unit mining revenue sees no significant changes. Mining revenue has climbed back to similar values as at the beginning of May.

Ethereum

The ultrasound money is getting robust. Since the London upgrade was completed on the Ethereum network, more than 67,200 ETH fees have been burnt at a speed of 3.14 ETH/min by press time.

Since Ethereum’s price climbed, mining reward in fiat value remains the same, while income from the fee part measured in ETH was burned.

Dev and network

Ethereum

Solidity programming language releases its version 0.8.7 with support for the London upgrade, includes various improvements to Yul to EVM code transformation, the SMTChecker and some bugfixes. Read the announcement to get more information.

Monero

XMR <-> BTC atomic swaps are live on its mainnet. The process does not require a platform and can be performed directly peer-to-peer, ensuring trustless and private swaps.

Litecoin

The Litecoin MimbleWimble July recap update is out. The core dev has been focusing on rebasing changes from the LTC 0.18 branch to the LTC 0.21 branch. You can check the project’s roadmap on http://wenmweb.com/.

DigiByte

DigiByte devs have finished the majority of the upstream Bitcoin v22 merge into a new DigiByte v8.22.0 feature branch with passing tests.

Firo

Firo released its new mandatory update v0.14.8.0 that moves the Lelantus join split payload into the vExtrapayload section.

Dash

Dash announced Dash Platform v0.20 on Testnet. The new release introduces several breaking changes and new features. Including Validator Set Rotation, Peer-to-peer Layer Optimization and Threshold, and so on.

Bytom

Bytom announces full transition to Proof of Stake consensus, thus ending its mining activity when block height 709, 660 is reached. The migration was completed on August 20, 2021.

Application and adoption

Bitcoin

News from El Salvador: Draft Bitcoin Banking regulation was released. That draft will serve as a guideline for banks and financial institutions on how to offer bitcoin-related services.

Ethereum

1inch deployed on Optimistic Ethereum, a layer 2 solution, to increase transaction speed and lower gas fees for their users. 1inch users can already start migrating assets to the Optimistic network through the Optimism Gateway.

Beam

Beam Desktop Wallet 6.1 Testnet was released. It’s a major step towards decentralized applications on Beam’s network. Meanwhile, according to Beam core dev, bridges to Ethereum are coming.

Horizen

Horizen announced the partnership with Morpheus.Network. Through this partnership, they will integrate blockchain technology using Zendoo and provide ZK-based privacy for the supply chain.

Nervos

Nervos announced adding Yokai, a DEX, to its ecosystem. Currently, it’s in the beta testing stage.

Community

Bitcoin

Jack Dorsey joining the mining family. CEO of Twitter and Square Jack Dorsey says that he is trying Bitcoin mining himself. In one of the Twitter replies, he stated that he is trying out Bitcoin mining through Compass Mining, a platform that provides mining services for individual miners.

Ethereum Classic

Awesome Ethereum Classic, a list of resources for the Ethereum Classic project has been updated for the community to understand the network’s ecosystem.

Decred

Decred July Journal reports that there are now 3 consensus changes in various stages of development. Also, DCRDEX has added core ETH integration, and more network and ecosystem data.

A video recap for Decred August news was released as well Video covers blockchain governance in action, new network highs, and more info.

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PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem. Monitor and help secure the PoW world with f2pool.