Atlas Angle

Bitcoin mining difficulty has dropped 6%, hitting its lowest point since December 2022. The difficulty of Bitcoin mining has reached its lowest point since December 2022. On May 9, BTC.com reported a significant 5.63% decrease in Bitcoin (BTC) mining difficulty, which lowered to 83.15 T. This adjustment reflects levels seen during the bear market phase of 2022, a period marked by several notable bankruptcies, including the collapses of Terra and FTX. Over the preceding fortnight, the average hashrate stood at 595 EH/s, down from 630 EH/s, indicating potential equipment shutdowns by miners as mining operations became unprofitable following the most recent Bitcoin halving. The next anticipated adjustment in this metric is scheduled for May 23, with a projected decrease of 0.19%. The red...

Vitalik Buterin has suggested a method to enhance the capacity of Ethereum. Vitalik Buterin, one of the co-founders of Ethereum, suggested the introduction of multidimensional gas pricing. In his latest essay, Buterin has proposed a revolutionary approach to address the limitations of the existing commission system within the cryptocurrency landscape. His concept revolves around the implementation of multidimensional gas pricing, aiming to reshape the fundamental dynamics governing transaction fees and resource allocation within blockchain networks, particularly focusing on Ethereum. Traditionally, blockchain networks rely on a commission-based system to incentivize network participants, known as miners or validators, to include transactions in blocks and secure the network. However...

A Canadian regulatory body has fined Binance $4.4 million for infractions related to money laundering. FINTRAC has levied a significant penalty against the cryptocurrency platform Binance for purportedly breaching anti-money laundering rules. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) released a statement today outlining two primary breaches by Binance: failure to register as a foreign money services business and failure to report significant transactions involving virtual currency. Specifically, FINTRAC alleges that Binance neglected to report transactions exceeding $10,000 on 5,902 separate occasions between June 2021 and July 2023. According to the regulator, Binance is classified as a foreign money services business. On May 7, 2024, Binance Holdings Li...