BTC network difficulty drops slightly, ETH hashrate ATH, New Doge wallet, and more.
Learn about industry news, development updates, community happenings, and other aspects of the PoW world!
Bitcoin saw its first drop in difficulty after six cycles of gaining in difficulty. With a -1.49% change, the next adjustment is estimated as another slight decrease.
Mining profitability remains at the same level as the previous 2-week cycle and hasn’t fluctuated significantly, compared to 50 days ago, as prices remain stable.
As a result of low participation in NFTs and Defi, the average gas price hit an eight-month low level below $4.1, which recently was a single-digit Gwei per transaction.
However, the network hashrate continued inflowing the past 2 weeks despite the market downturn. The highest hashrate was marked at 1,039 TH/s on 2022-03-12. Profit has dropped to a $0.037 per 1 MH/s level.
Dev and network
The name of The Merge was finally announced as “Paris”. It follows the Devcon city name convention and highlights the first large community-organized conference.
Meanwhile, Kiln testnet launched The community is testing The Merge by running infrastructures, sending transactions, and testing setups before The Merge is available on other testnets.
And we chose.... 🥁🥁🥁— Tim Beiko | timbeiko.eth 🔥🧱 (@TimBeiko) March 11, 2022
🗼🇫🇷🥖 Paris 🥖🇫🇷🗼
Following our devcon-city name convention, with a twist: Paris is where Ethereum's first large community-organized conferences, @EthCC and @EDCON_Online, took place 😁 https://t.co/7acV70BnXf
A previous core dev meeting happened on 2022-03-05. Check the EIPs and discussion for the future of ethereum in this video.
Four consensus agendas included in Decred v1.7 began voting on-chain. To check out the status, refer to this page.
Tallying begins at block 641,152. If quorum is met the agendas that pass will lock in at block 649,216, and the new rules will activate at block 657,280.https://t.co/weioVFuCx1— Decred (@decredproject) March 11, 2022
A summary of the proposed consensus changes and links to their respective DCPs are included below:
Kaddex and X Wallet team up with Simplex to bring fiat on-ramp services into Kadena DeFi.
Ergo’s latest dev update video is out covering Dexy stablecoin, Rosen Bridge oracle, and more updates.
Spats, Firo’s research paper, was released to extend the Lelantus Spark to support confidential assets and provide privacy to a wider ecosystem.
Application and adoption
Lightning network capacity reached a new high of 3534 BTC. Check different matric of the lightning network via https://1ml.com/.
💥Lightning Network capacity is now 3,534 #Bitcoin - a new All-Time High. pic.twitter.com/O88Yo4zi8t— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 14, 2022
Yuga Labs, the creator of Bored Ape Yacht Club, acquired the CryptoPunks and Meebits collections from Larva Labs and will give full commercial rights to the NFT holders.
Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from @LarvaLabs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners. pic.twitter.com/lAIKKvoEDj— Yuga Labs (@yugalabs) March 11, 2022
MyDoge Wallet, a non-custodial online wallet of Dogecoin is available on the App Store.
a dedicated dogecoin wallet was just released for iOS - non-custodial and seems pretty easy to use! https://t.co/EtLHPIf9uC— Shibetoshi Nakamoto (@BillyM2k) March 4, 2022
The first handshake NFT auction Handshake Tarot is happening on 2022-03-16.
Campfire, a private by default, open-source Firo mobile wallet is released.
Community and more
EU just voted again on banning PoW mining. The ECON committee of the EU Parliament voted against the PoW-ban, with 32 against and 24 in favor, paving the way for an innovation-friendly crypto-regulation that will set standards worldwide.
The ECON committee voted against a provision that would limit Proof-of-Work mining in the EU, passing an alternative rule.@namcios covers the news:https://t.co/28xUPHHlw1— Bitcoin Magazine (@BitcoinMagazine) March 14, 2022
Many Ethereum events are happening all around the world in March. There is Ethereum Rio from March 11 to 20, ETH Austin on March 17 and 18, and ETHDubai from March 29 to 31.
HandyCon is going to live this week. There will be an online conference and hackathon in the upcoming days for builders and the broader community.
The latest weekly insider of Horizen shared several updates, including the Tokenization platform, Web Wallet V, zkAudit, and more.
Kadena’s February report launched with a variety of ecosystem updates.
.@Kadena_io Ecosystem February Report!— Kadena (@kadena_io) March 4, 2022
Let’s take a look at the accomplishments and exciting developments within our ecosystem during the past month! pic.twitter.com/OwYpA9rzDV
The Digibyte February update is out with the latest progress on partnership and adoptions.
The PoW Round-Up is our bi-weekly report on major news and mining insights in and around the Proof of Work ecosystem.
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