Mining revenues, and network upgrades in the PoW world.
Learn more about industry news, development updates, community happenings, and other aspects of the PoW world!
Mining industry
Bitcoin
The Bitcoin mining competition got less intense as the network difficulty dropped by 2.14% on 2022-09-28. The average hashrate over the past 2 weeks was around 224 EH/s.
However, as the prices also decreased, the unit revenue in fiat hasn’t seen an increase. It is staying at $0.08 per 1 TH/s over the past 2 weeks.
Etchash and Ethash coins
For ETC, ETHW, and ETHF, their unit mining revenues are basically the same, and are now stabilized at around $0.0029 to $0.0030 per 1 MH/s. Mainstream GPUs can now produce positive revenues on those networks. The hashrate scales of those networks fluctuate, but generally stay lower than the day of Ethereum Merge, when ETH hashrate floods into those coins.
Other GPU coins
Ergo hashrate scale goes back to the level before the Ethereum Merge, at 20 TH/s, and the general GPUs can now make a profit as they used to. While Ravencoin retains the new hashrate inflow, at 16 TH/s.
Development and network
Ergo
Ergo’s EIP-37 voting will start from the block height of 844,800 and run until the block height of 942,08. Version 4.0.103 should be updated for voting of EIP-37 activation.
🚨 Mining pools and miners!
— Ergo (@ergoplatformorg) September 29, 2022
4.0.103 allows immediate voting of EIP-37.
This version allows voting for EIP-37 activation even if the first block in a voting epoch is not proposing it. It is also auto-voting for EIP-37.https://t.co/dqttkZroVy
Dash
Dash team has run a two-week hackathon in Tbilisi, Georgia, working at our highest level of efficiency to solve problems and leverage synchronous work. The goal is about same block execution, and at the moment, the first pre-release of same-block execution for integration is already done.
Xaya
Xaya completed its first Block Halvening on 2022-09-23 and its block reward is now 1.91 CHI to miners.
Horizen
ZEN 3.2.0 is now available and it is mandatory. The current version is expected to deprecate at block #1232222, which will occur around 2022-10-20.
Software upgrade ZEN 3.2.0 is now available!
— Horizen (@horizenglobal) September 28, 2022
This upgrade is mandatory for all node operators, miners, & exchanges. ZEN 3.2.0 includes an upgrade integration test suite to Python 3, build system updates, & compatibility with newer Linux versions & more!https://t.co/4V6kGeqUqK
Conflux
Conflux v2.1.0 upgrade will take place when the epoch number reaches 56800000, estimated on 2022-10-18. This Hardfork will activate 5 CIPs that will be enabled on 2022-10-25.
Verge
Verge has completed its latest halving on block number 6200001, and its rewards have reduced from 25 to 12.5 Verge. Click here for the countdown of the next VXG halving.
Happy Halving #VergeFam!$XVG #VergeCurrency #blockchain #crypto #decentralized pic.twitter.com/zKUaUDMnA4
— Verge Currency (@vergecurrency) September 28, 2022
Application and adoption
Bitcoin
There are several macroeconomic news that came out this week. The Bank of England launched a £65bn move to calm markets, and Germany’s inflation rate hit a 70-year high. If you are considering a store of value and against money printing, do consider Bitcoin.
seems like this headline belongs in the #bitcoin blockchain for posterity, the next fiat crisis, 2008 genesis block quote re-run "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." pic.twitter.com/QRypW9wRrI
— Adam Back (@adam3us) September 29, 2022
Bitcoin Lightning payment app Strikes raised $80 million for its Bitcoin payment revolution. The funding round was led by Ten31, Washington University.
funds are safu
— Strike (@Strike) September 28, 2022
we believe with #bitcoin as the payment standard, the financial system will be cheaper, faster, more innovative, and more inclusive
we're incredibly grateful for the support from @Ten31vc, our investors, and this community
onwards 🚀
LETS 👏 FUCKING 👏 GO 👏 https://t.co/w03Tg6l1x5
Ethereum Classic
ETC Cooperative has announced Gnosis Safe for Ethereum Classic. They are working on a full Gnosis Safe instance for ETC, and the Mordor testnet is live and ready for use.
Also, ETC DAO has released EthereumClassic.com’s project CHAMELEON, and the ECO token.
Kadena
Kaddex releases X-Wallet mobile signing integration. Users can now connect their mobile wallet to Kaddex and perform swapping, staking, and provide liquidity from the eXWallet app.
Nervos
Nervos has announced the GodwokenRises, a community-focused, fun-first web3 gaming and ecosystem blockchain for true mass adoption for web3. Learn more here.
Community and more
Bitcoin
Bitcoin Amsterdam will be hosting from October 12 to14, click here for tickets.
Dogecoin
Grants are available to attend the Dogecoin hackathon for the devs Hackathon in Australia.
Calling all #Dogecoin devs! Grants are available to attend the Hackathon in Australia, & cover all expenses - including flights, accomodation, & meals! https://t.co/lHod3dlc24 #HackTheDoge #DogeathonDownUnder2022 pic.twitter.com/NgpQVDmKcB
— Dogecoin Developers (@dogecoin_devs) September 19, 2022
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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