VHCEx Newsflash | 5th May 2020
Ethereum Blocks Reach 10 million
Ethrereum or also known as ETH, the second largest cryptocurrency reached a major landmark recently by mining its 10 millionth block. When compared to the largest cryptocurrency Bitcoin, 628,900 blocks have been launched since its launch on 3rd January 2009. Ethereum was launched almost six years later, in 2015 and its blocks its mining technique require 20 seconds, as opposed to Bitcoin which requires 10 minutes per block. Hence, leading to why Ethereum reached 10 million blocks so much quicker.
Image Source: Nulltx.com
9 Countries with Huge Jump in Cryptocurrency Interest
A recent report released by leading cryptocurrency price and market data provider Coinmarketcap on Bitcoin.com covered the latest growth and user trends for Q1 2020. The first trend analyzed were growth by countries among users in the age group of 18 – 24. Nigeria (210.6%), Australia (158.07%), Spain (120.71%), Canada (112.45%), Mexico (97.33%), U.K. (91.48%), Colombia (85.07%), India (83.07%), and Pakistan (81.79%) were the top 9 countries with more than 80% user growth in the trend.
Meanwhile, other countries reported high growth rates among new female users in the first quarter of 2020. Greece (163.67%), Romania (145.09%), Argentina (98.23%), Portugal (89.95%), Indonesia (88.92%), Ukraine (86.68%), Czechia (85.6%), Colombia (82.03%), and Venezuela (80.23%) experienced a surprising large new growth among women who begin signing up for crypto.
Image Source: DailyHodl
Cryptocurrency Visa Card Swipe supported by Samsung Pay
According to Coin Telegraph, Samsung Pay and cryptocurrency Visa card platform Swipe formed a partnership recently that allows Samsung Pay users to link their Swipe Visa card for payments with cryptocurrency. Swipe users in United Kingdom and European Unions can now use their crypto balances to make payments at over 50 million locations which further progresses the growth and cashless economies.
Image Source: Medium
TenX Allows 90 million More People to Spend Crypto
BitcoinNews reported that TenX managed to obtain an E-Money License that allows the company to serve a combined of more than 90 million people in Austria and Germany with the convenience of cryptocurrency payments. It has auto-convert feature where your crypto that will be automatically converted to traditional currency when making payments. TenX supports Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) among the supported cryptocurrency.
Image Source: Crypto World
China Uses Hydropower to Mine Bitcoin
Ya’an, a city in Sichuan province at China wants to use its hydropower stations for bitcoin mining and blockchain operations. Companies are encouraged to set up their factories nearby powerplants with abundance of power and integrated with State Grid. The local government wants the province to be the hub for blockchain and crypto mining hub, where electricity costs during wet season, high water levels can lower the cost and miners will pay low as 0.08 yuan per kWh or $0.01 per kWh, up to four times lower than what the rates are in dry season.
Image Source: South China Morning Post