Cardano Founder Discusses Roadmap
With a market capitalization of more than $60 billion, Cardano is one of the world’s most valuable decentralized networks.

It launched in 2015 when one of the co-founders of Ethereum, Charles Hoskinson, conceptualized a new Proof-of-Stake blockchain. Cardano was meant to be a vast improvement on Ethereum, so instead of deciding the software architecture and features by himself, Hoskinson decided to adopt a peer-reviewed academic approach.

With this, the project embraced the philosophy of openness in software development and implemented software features using an evidence-based method. Over the years, Cardano’s research team has published over 100 academic research papers, all the way from distributed systems to programming languages and game theory.

Since its creation, the blockchain has evolved through different versions or eras, each adding new key features. The first iteration of Cardano, known as the Byron Era, started in Sep. 2017, and it allowed users to exchange Cardano’s ADA currency on a federated network by utilizing the Ouroboros consensus protocol.

Cardano’s following upgrade, called Shelley, took place in mid-2020 and achieved decentralization of the network consensus. With the launch, the network was upgraded to a state where the majority of nodes would be run by the community, not a centralized group.

After Shelley, the latest version of Cardano known as Goguen aims to bring new blockchain functionalities through a series of hard forks. For instance, in Mar. 2021, the team added support for native assets on Cardano with the Mary hard fork. To fulfill the next step of the Goguen era, Cardano is now heading towards a highly anticipated hard fork named Alonzo. This upgrade will enable developers to finally be able to build smart contracts on Cardano.

According to Cardano’s founder, Charles Hoskinson, hundreds of #DevelopmentTeam s are already striving to make their contributions. In an exclusive interview with Crypto Briefing, Hoskinson detailed Cardano’s plans to host oracles, stablecoins, DEXs, and NFT marketplaces on the upcoming Plutus smart contract platform.

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CEO of Euro Pacific Capital and a prominent Bitcoin opponent, Peter Schiff, has taken to Twitter to gloat over the recent Bitcoin plunge and reminding the community that his iconic asset – gold – has been up and reached a 20-week high.

Bitcoin dumps despite “non-stop media pumping” BTC
The global flagship cryptocurrency has seen several major declines over the past month. The first was when Bitcoin dropped to the $47,826 level from the $64,863 all-time high on April 14.

Then it dropped to the $42,000 level from $50,000 and after that plummeted towards $30,000 twice recently. The reasons for these dumps were anti-Bitcoin tweets of Elon Musk, in which he announced that Tesla would stop accepting it for car purchases due to it using fossil fuel-based energy, and issues with crypto in China.

First, major Chinese associations related to the local central bank, prohibited financial institutions to deal with cryptocurrency-related businesses and the second blow to the Bitcoin price was the crackdown on BTC mining in China.

Bitcoin has been constantly discussed on CNBC with a positive focus recently. Still, Peter Schiff has pointed out that this “CNBC pump” has not saved Bitcoin from the sharp price fall.

Gold is on the rise, Schiff is triumphant
Peter Schiff prefers gold over Bitcoin and he has not missed a chance to mentioned that while Bitcoin has been down 40 percent, XAU has closed a 20-week high at $1,880 per ounce without any support from the mainstream media.

He has also pointed out that this has not been covered by CNBC, nor has it covered the Bitcoin decline.

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Regulators have been moving into multiple areas of the crypto industry, and they will – in one way or another – come after crypto mining powered by non-renewables, according to two miners that talked with Cryptonews.com.

However, as the concerns, facts, and misinformation over Bitcoin (BTC)’s carbon footprint have reemerged during this cycle, mining companies that have been moving towards cleaner energy sources seem to be more prepared ahead of possible new mining-related regulations.

Igor Runets, CEO and Founder of BitRiver, a major provider of colocation services for cryptocurrency mining in Russia, and the CIS, noted that countries across the world are already moving towards carbon neutrality, so it’s to be expected that there’ll be regulations discouraging non-renewable powered crypto mining, directly or indirectly.

As for Greenidge Generation, a US-based vertically integrated BTC mining and power generation facility, Chief Financial Officer (CFO) Tim Rainey said that the company will continue working with regulatory agencies and government at all levels, given that they all share a goal – an environmentally-sound, economically-vital operation.

As a power producer, “Greenidge is one of very few cryptocurrency mining companies with extensive experience” working with regulators on this matter, Rainey said, adding that “by design, the Bitcoin mining algorithm forces all miners to pursue best efficiency in energy use.”

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In its latest effort to drive out local crypto mining operations, the Inner Mongolia government has set up a platform asking the general public to reveal their whereabouts.

The Inner Mongolia Development and Reform Commission (DRC) said in an announcement on Tuesday that it has set up a dedicated hotline, email and mail address for local people to inform the government if they know of any crypto mining operations that are still active in the region.

The scope of the platform also targets any local crypto mining operation that is enjoying tax, land and power perks under the disguise of a data center or any company that offers land rental services for crypto mining operations.

The measure follows a March announcement by the Inner Mongolia DRC where the government agency sought to shut down crypto miners in the region that mainly use fossil fuels.

Since then, crypto mining companies in the area have been gradually shifting their operations elsewhere in the country. But Inner Mongolia is one of China's largest provinces by land size at 1.183 million square kilometers, 1.6 times that of Texas.

The effort to curb crypto miners is part of Inner Mongolia's bigger plan to meet the carbon emission metrics in the next five years set by the National DRC (NDRC), a central government agency that's in charge of China's macro economic plan.

The NDRC, one of the 26 cabinet ministers of the central government, has outlined various measures of success for each of the country’s five-year macroeconomic plans. One of the goals for the 13th five-year plan (2016-2020) was to reduce national energy consumption per GDP by 15% compared to the previous five-year period.

This was as much an overall national goal as a local one. But Inner Mongolia was the only province that failed to achieve this as of the end of 2019 — and, based on a government review, the first half of 2020 was even worse.
https://cryptonews.net/en/news/mining/669760/

Mike Colyer leads one of North America’s biggest crypto mining companies, Foundry. Owned by Digital Currency Group (the same owner as CoinDesk), the startup emerged in 2019 and has quickly come to exemplify a trend: the comeback of U.S. crypto mining after years of living in the shadows of China’s greater hash power.

We caught up with Colyer for a preview of his thoughts on China vs. U.S. rivalry in Bitcoin mining, institutional adoption and the controversial concept of “clean bitcoin.”

Mike Colyer will appear at this year’s CoinDesk’s Consensus conference on Monday May 24 in a track entitled “Big Capital: How North America is Finding Its Spot in the Global Hashrate Race.” Register here.

The following has been edited lightly for brevity and clarity.

CoinDesk: Foundry is aimed at institutional clients. Why should they start mining bitcoin and other assets? What’s wrong with just holding?

Decentralized infrastructure means anybody in the world can participate in these networks. It opens up an incredible opportunity. With mining, these computers are basically securing the Bitcoin network and you get paid to secure the Bitcoin network. It’s an incredible concept and we’re seeing more institutional players recognize it. In the early days, Bitcoin, you could mine it on your PC. Then, it moved from CPU to GPU mining for basic mining. And then it became more about who’s got the capital to deploy large amounts of these computers. In the last bull run, every once in a while, you’d get somebody who would deploy, say, $1 million worth of machines. Today, people are making $10, $20, $30 million purchases of equipment. And it’s scaling. It’s not a question of ‘are the institutions going to get into this game?’ They’re already here, and they’re doing it.

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The next few months promise to be exhilarating and decisive for Ether (ETH), as its recent all-time highs above $3,500 put an even bigger spotlight on the cryptocurrency and its smart contract blockchain, Ethereum.

As the cryptocurrency markets continue to grow five months into 2021, both the preeminent Bitcoin (BTC) and a host of other blockchain projects and tokens have soared in value, chief among them being Ether. The second-biggest cryptocurrency by market capitalization has enjoyed a buoyant fortnight that has seen it rise to new heights.

Indeed, ETH went on a late-April surge, backed by several key factors that have led to a rapid price appreciation across cryptocurrency markets. The booming decentralized finance sector coupled with the burgeoning nonfungible token, or NFT, space have been attributed as major reasons for ETH’s price boom, as these technologies are mostly based on the Ethereum blockchain. However, the importance of the recently implemented Berlin upgrade and bullish ETH options traders has helped push the price of the network’s token even higher.

The booming price of ETH has also led to renewed talk of a fabled ETH–BTC “flippening,” which would see Ether overtake Bitcoin as the most valuable cryptocurrency by market capitalization. While that is still a long way off, as Ether's $411-billion market cap is worth just 39% of Bitcoin’s $1.06-trillion market cap, ETH is increasingly catching up.

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Ethereum extended its rally and it traded to a new all-time high near $3,550 against the US Dollar. ETH price is correcting gains, but it is likely to remain well bid near $3,400.

Ethereum extended its rally above $3,500 and it traded to a new all-time high near $3,550.
The price is now trading well above $3,400 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $3,390 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is correcting lower, but the bulls are likely to remain active near $3,400.
Ethereum Price Gains Traction
Ethereum formed a new support base above the $3,250 and started a fresh increase. ETH outpaced bitcoin and it broke the $3,400 resistance to start a fresh rally.

It even climbed above the $3,500 level and traded to a new all-time high near $3,550. It is now trading well above $3,400 and the 100 hourly simple moving average. Recently, there was a downside correction from the $3,551 high and the price traded below $3,500.

Ether traded below the 23.6% Fib retracement level of the recent wave from the $3,289 swing low to $3,551 high. On the downside, the first major support is near the $3,420 level.

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