“Web3” may be one of the biggest buzzwords of 2022, but the idea of creating an entirely decentralized platform to host decentralized applications has long been a vision of the crypto community. While it’s notable that some blockchain companies began building out Web3 applications four or five years ago, the Web3 space has only started gaining traction recently. The recent … [Read more...] about Web3 developer growth hits an all-time high as ecosystem matures
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$1B worth of ETH burned in the past 30 days due to record high OpenSea NFT transactions
According to blockchain data from Nansen Analytics on Tuesday, over $1.096 billion worth of Ethereum (ETH) has been burned in the past month. With the introduction of the EIP-1559 last August, a portion of fees is taken out of circulation for every transaction that occurs on the Ethereum blockchain. While sending and receiving ETH does not cost much, higher-level tasks, such as … [Read more...] about $1B worth of ETH burned in the past 30 days due to record high OpenSea NFT transactions
Bitcoin records all-time high network difficulty amid price fluctuations
The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China.The Bitcoin (BTC) network has recorded a … [Read more...] about Bitcoin records all-time high network difficulty amid price fluctuations
Bitcoin Mining Difficulty Sets New All-Time High
Mining difficulty on the Bitcoin network increased by 9.32% and hit an all-time high of 26.64 trillion on Jan. 21, at 3:07 UTC, beating the previous record set on May 13, 2021.The difficulty is automatically adjusted based the amount of computational power on the network, or hashrate, to keep the time it takes to mine a block roughly stable at 10 minutes. The higher the … [Read more...] about Bitcoin Mining Difficulty Sets New All-Time High
US Inflation Rose to Nearly Four-Decade High of 7% in December
The U.S. Labor Department’s consumer price index (CPI), the most widely used gauge for tracking inflation, rose to an annual clip of 7%, hitting predictions made by economists, marking the highest increase since June 1982 and topping November’s 6.8% increase.The core CPI, which excludes more volatile energy and food prices, rose by 0.6% month-over-month, exceeding economists’ … [Read more...] about US Inflation Rose to Nearly Four-Decade High of 7% in December