Day: January 22, 2021

OKCoin To Integrate Lightning Network

coinmaker

Cryptocurrency exchange OKCoin has announced that it will be integrating Bitcoin’s Lightning Network to enable faster and cheaper transfers for users by running a Lightning node that can route transactions to other nodes in the network. It expects the integration to be complete in three to four weeks. In a release shared with Bitcoin Magazine, OKCoin said that this would reduce bitcoin transaction fees from about $10 to about 1 cent and reduce deposit and withdrawal times from 10 to 60 minutes to a matter of seconds. Provided by OKCoin…

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Joe Biden Freezes FinCEN’s Crypto Wallet Rulemaking — US Crypto Regulations Under Review

SmartWealth

New U.S. President Joe Biden has frozen all agency rulemaking, including the proposal by the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets. Biden will appoint someone to “review any new or pending rules,” the White House has announced. FinCEN’s Crypto Wallet Proposal Frozen, Pending Regulatory Review Joe Biden, the 46th president of the United States, has frozen all rulemaking carried over from the previous administration, the White House announced after his inauguration Wednesday. This would include the proposal by the Financial Crimes Enforcement Network (FinCEN) affecting cryptocurrency wallets.…

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Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

SmartWealth

Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power. ● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH/s, well beyond the company’s original cumulative hash rate target of 1,000 PH/s for 2021. ● In a statement this week, Hive said the equipment will be delivered in eight tranches in 2021, with 500 miners delivered in May and…

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