Chinese tech giants Tencent, Alibaba filed for the most blockchain patents last year

Chinese tech giants Tencent, Alibaba filed for the most blockchain patents last year

Chinese tech giants Tencent and Alibaba filed the most blockchain patent applications in 2019, according to research conducted by The Block’s Steven Zheng. Tencent and its affiliates filed for 718 blockchain patents out of a total of over 5,800, while Alibaba Group filed 470. Together, they accounted for over 20% of the total. Tencent and Alibaba …

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Is Bitcoin walking a tightrope between scalability and centralization?

Is Bitcoin walking a tightrope between scalability and centralization?

For Bitcoin, one of the biggest challenges it seems to face with regard to its vision of becoming a widely used currency is in terms of its issues surrounding scalability. While Bitcoin’s proof of work consensus algorithm is extremely important from the immutability standpoint, it fails to keep up in terms of its transaction speeds …

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Bitcoin Halving: How Miners Prepare for Lower Block Rewards

Bitcoin Halving: How Miners Prepare for Lower Block Rewards

As the latest Bitcoin halving approaches, miners are upgrading equipment, optimizing arrangements, conserving power and more in the race to dominate. How are bitcoin (BTC) miners strategizing for the upcoming halving event, in which block reward subsidies will be cut by 50 percent? On this week’s episode of “Bitcoin Halving 2020: Miner Perspectives,” Kristy-Leigh Minehan …

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Feds add fintechs PayPal, Intuit to emergency coronavirus loan program

Feds add fintechs PayPal, Intuit to emergency coronavirus loan program

Fintech companies PayPal and Intuit were approved by the Small Business Administration (SBA) to distribute funds as part of the U.S. agency’s emergency lending program, enacted amid the ongoing coronavirus pandemic. PayPal and Intuit released statements on April 10, declaring their participation after the SBA’s approval, according to coverage by CNBC. The SBA plans administer …

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Reddit May Use Ethereum for a New Token-Based Points System

Reddit May Use Ethereum for a New Token-Based Points System

Reddit is experimenting with recording points and perks on a blockchain. According to a user post on the social media platform and confirmed by a company spokesperson, Reddit is experimenting with “Community Points” – a new system for subreddits (communities) that gives power users extra benefits. These Community Points are apparently stored using Ethereum’s ERC-20 …

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Crypto scammers see less revenue during coronavirus pandemic due to fallen prices: Chainalysis

Crypto scammers see less revenue during coronavirus pandemic due to fallen prices: Chainalysis

Cryptocurrency scammers may be taking advantage of coronavirus to invent new fraudulent narratives, but their profits have declined since the outbreak of the pandemic because of a drop in crypto market prices, according to blockchain analysis firm Chainalysis.  In an April 10 report by Chainalysis, researchers found that the coronavirus pandemic has triggered an increase in …

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New York Power Plant Greenidge Has Sold Up to 30% of Its Bitcoin Mining Hash Rate

New York Power Plant Greenidge Has Sold Up to 30% of Its Bitcoin Mining Hash Rate

Greenidge Generation, an upstate New York power plant that’s using proprietary facilities to mine bitcoin (BTC), has sold up to 30 percent of its computing power to institutional buyers. The firm said in an announcement on Friday that the deal, brokered by BitOoda Digital, proceeded the sale of 106,000 terahashes per second (TH/s) of bitcoin …

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Bitcoin Miner Maker Canaan Lost $148 Million in 2019

Bitcoin Miner Maker Canaan Lost $148 Million in 2019

Chinese bitcoin miner manufacturer Canaan Creative has disclosed it made a net loss of $148.6 million for 2019 on a revenue of $204.3 million, reflecting a declining profitability over the past three years. On Thursday, the firm released its first unaudited earnings report since it went public in the U.S. last November. Canaan said it sold computing power …

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