Weekly report of Mining Network: Litecoin halving, Core Motion mining machine delivery delayed (7.1-7.8)

As of 10:00 am on July 8, the total hashrate of the Bitcoin network was 66.90EH /s . The current difficulty of the entire network is 7.93 T. It is predicted that the difficulty will increase by 13.14 % to 8.98 T next time. There is still 1 day left before the adjustment.   9 hours a day

Litecoin's second halving will take place on August 5, 2019 , with 28 days left

The following figure shows the weekly dynamics of mainstream currencies from July 1 to July 8, 2019

Weekly News

In order to mine minerals, what have the miners done over the years?

In recent years, with the rise of the blockchain industry and the rise of Bitcoin, this industry has gradually become known to many people. Some people have become rich overnight, while others have lost their fortunes. Mining, one of the core elements that maintain the operation of Bitcoin, was once regarded as a way to "make money without doing anything" due to the myth of getting rich quickly created by early miners.

Abkhazia to build large crypto mining farm, president says

The partially recognized Republic of Abkhazia is planning to build a large-scale cryptocurrency mining farm, President Raul Khadjimba claimed in an interview with news outlet RiaFAN published on July 2.

When asked if Abkhazia’s plans to establish large-scale crypto mining farms are still valid, Khadjimba said “Unfortunately, there are some difficulties. We are trying to legalize these processes in order to bring some revenue to the state’s budget.” Khadjimba also noted that Abkhazia already has facilities illegally established by individuals.

With a monthly income of tens of millions, the "crazy" miners are about to fly!

When fresh and juicy little leeks rush into the cryptocurrency market frantically with their ignorant and confused eyes, no one will doubt that the bull market has really arrived.

The recent exciting bull market has once again ignited the demand for new mining machines in the cryptocurrency market, and also caused a large-scale supply shortage in the mining machine market.

Early in the morning, as soon as the store opened, business came to the store. That was what happened at Xiao Guo's store in Huaqiangbei SEG Plaza on June 27, after Bitcoin hit the $13,000 mark at around 2 a.m.

"Is the T17 40T in stock?" the buyer asked without even saying hello. After Xiao Guo said that the stock was very tight, the buyer asked Xiao Guo to help prepare 100 units.

Litecoin block reward halving countdown begins! Some mining companies can finally breathe a sigh of relief

Litecoin is an improved digital currency inspired by Bitcoin. Unlike Bitcoin, the Litecoin network can process a block every 2.5 minutes (rather than 10 minutes), thus providing faster transaction confirmation. In addition, the Litecoin network is expected to produce 84 million Litecoins, which is four times the amount of currency issued by the Bitcoin network.

Similar to Bitcoin, Litecoin is also generated by "miners mining". Starting from October 2011, if the value of "explosion" is calculated, the system will reward the mining company with 50 Litecoins at one time.

It is worth mentioning that Litecoin, like Bitcoin, also experiences a block reward halving every four years. This means that after the first halving in 2015, if the value of "explosion" is calculated, the system will only reward mining companies with 25 Litecoins at one time.

Another four years are about to pass. Litecoin is expected to undergo its second reward halving in August this year, to 12.5 Litecoins.

Innosilicon delayed delivery, and low computing power replaced high computing power and was subject to rights protection

There are so many stories in the cryptocurrency circle! Some run away, some defend their rights... all kinds of things. However, this time the rights protection incident happened in the usually peaceful mining circle.

As the market rebounded, many people rushed into the mining circle and became new miners. Old miners also increased their investment in mining machines, and for a time, mining machines were in short supply. In their minds, mining is the most stable way to make money. At this time, dealers with a keen sense of smell also found business opportunities and began to book futures mining machines with manufacturers, waiting to make a fortune.

Unexpectedly, there are unexpected changes in the weather!

Innosilicon delays delivery of thousands of mining machines