[PoW Round-Up] EU voted against PoW ban, Ethereum tested the Merge on Kiln
Learn about industry news, development updates, community happenings, and other aspects of the PoW world!
BTC network difficulty drops slightly, ETH hashrate ATH, New Doge wallet, and more.
Bitcoin saw its first drop in difficulty after six cycles of gaining in difficulty. With a -1.49% change, the next adjustment is estimated as another slight decrease.
Mining profitability remains at the same level as the previous 2-week cycle and hasn’t fluctuated significantly, compared to 50 days ago, as prices remain stable.
As a result of low participation in NFTs and Defi, the average gas price hit an eight-month low level below $4.1, which recently was a single-digit Gwei per transaction.
However, the network hashrate continued inflowing the past 2 weeks despite the market downturn. The highest hashrate marked at 1,039 TH/s on 2022–03–12. Profit has dropped to a $0.037 per 1 MH/s level.
Dev and network
The name of The Merge was finally announced as “Paris.” It follows the Devcon city name convention and highlights the first large community-organized conference.
A previous core dev meeting happened on 2022–03–05. Check the EIPs and discussion for the future of ethereum in this video.
Four consensus agendas included in Decred v1.7 began voting on-chain. To check out the status, refer to this page.
Kaddex and X Wallet team up with Simplex to bring fiat on-ramp services into Kadena DeFi.
Ergo’s latest dev update video is out covering Dexy stablecoin, Rosen Bridge oracle, and more updates.
Spats, Firo’s research paper, was released to extend the Lelantus Spark to support confidential assets and provide privacy to a wider ecosystem.
Application and adoption
Lightning network capacity reached a new high of 3534 BTC. Check different matric of the lightning network via https://1ml.com/.
Yuga Labs, the creator of Bored Ape Yacht Club, acquired the CryptoPunks and Meebits collections from Larva Labs and will give full commercial rights to the NFT holders.
MyDoge Wallet, a non-custodial online wallet of Dogecoin is available on the App Store.
The first handshake NFT auction Handshake Tarot is happening on 2022–03–16.
Campfire, a private by default, open-source Firo mobile wallet is released.
Community and more
EU just voted again on banning PoW mining. The ECON committee of the EU Parliament voted against the PoW-ban, with 32 against and 24 in favor, paving the way for an innovation-friendly crypto-regulation that will set standards worldwide.
The latest weekly insider of Horizen shared several updates, including the Tokenization platform, Web Wallet V, zkAudit, and more.
Kadena’s February report launched with a variety of ecosystem updates.
The Digibyte February update is out with the latest progress on partnership and adoptions.
The PoW Round-Up is our bi-weekly report on the major news and mining insights in and around the Proof of Work ecosystem.
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