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Crypto Mining | Iceland Moving onto Greener Pastures

At the beginning of 2018, Iceland made headlines because of its heavy involvement in crypto mining. Because the country is an ideal climate for mining, Iceland is home to one of the world’s largest crypto farms.

But now things are changing; Iceland is shifting its focus. To what? Blockchain technology.

Iceland Crypto Mining No More?

Iceland has rapidly become a leader in cryptocurrency mining, but that doesn’t mean it has been all sunshine and rainbows. Back in March, reports circulated that Iceland was going to use more energy for crypto mining than it would to power its homes this year.

Icelandics worried that energy would deplete trying to accomplish this, but that there were no plans to stop. 

Now there might be. Red Herring reported yesterday, September 23rd, that, in simple terms, Iceland crypto mining is getting the boot; further, the Iceland crypto industry is going to start focusing on “pure blockchain businesses.” 

Surprise?

A lot of people said blockchain would one day surpass crypto, and that seems to be happening. At least, in Iceland it is. According to Halldór Jörgensson, the chairman of the Borealis Data Center, there is an ongoing shift towards blockchain and away from crypto mining happening in the country.

Jörgensson even said the craze around crypto farming (particularly Bitcoin mining) has died down. He said it’s “not as crazy” as it was in 2017.

>> Juventus Football Club will Launch Its Own “Fan Token”

Others Disagree

Even though people in the crypto industry have been optimistic about the potentials of blockchain, the technology has come into a negative light recently. 

On September 17th, Jack Ma said that blockchain is going to end up being “useless” if it doesn’t help the environment.

To Each Their Own

Will blockchain surpass crypto? It’s unclear. Regardless, I’m glad to hear that Iceland crypto mining is slowing down. It’s good that the Nordic island nation managed to become so successful in it, but it could have caused problems. Especially in the future, if it kept up at the rate that it was approaching. 

Featured Image: Depositphotos/© PromesaStudio

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Top Crypto News | June 11 – June 15, 2018 – Crypto Currency News

Top Crypto News – The second full week of June is now over, and a lot of stuff went down. To say that the week started off poorly would be a bit of an understatement, too. However, things picked up towards the end of the week.

In this article, we will be covering both the good and the bad. So, without further adieu, here is this week’s top crypto news. 

Top Crypto News | June 11 – June 15, 2018

Monday, June 11

Monday was not a good day. News broke on the 11th that Coinrail, a South Korean crypto exchange, had been hacked over the weekend, sending the majority of the coins on the market down the rabbit hole. Altcoins like Ripple (XRP) and IOTA (MIOTA) were both down significantly.

With that being said, there was some positive crypto news that surfaced Monday. Despite being in the red on the crypto market, news surfaced on the 11th that Bitpanda, a crypto exchange, had added IOTA (MIOTA) to its list of offerings.

Tuesday, June 12

Tuesday was tough, as the market had not yet recovered from the Coinrail hack. On the market, Bitcoin (BTC) dropped to its lowest point since April 1, falling well below the $6.5K mark.

There was quite a bit of negative crypto news floating around Tuesday, although it depends on how you look at it. For instance, on Tuesday, word surfaced that Apple blocked crypto mining apps on all of its products. If you’re a crypto miner, you probably considered this to be negative crypto news. However, if you are someone who is totally opposed to crypto mining, this announcement probably didn’t do much to faze you.

In terms of positive crypto news announced Tuesday, Coinbase disclosed that it would be adding support to Ethereum Classic.

Wednesday, June 13

On Wednesday, cryptocurrencies were continuing to experience a massive dip in the market. Again, this was because of the Coinrail hack. Bitcoin (BTC) was down, and so were altcoins like Ripple (XRP), Stellar (XLM), and IOTA (MIOTA). 

top crypto news
Source: CoinMarketCap

The 13th was also a bad day for the blockchain sector. Specifically, Quantstamp, a blockchain startup, came under fire for misleading the crypto community about its QSP token. 

Thursday, June 14

On Thursday, things started to look a little bit better for coins on the crypto market. Numerous altcoins were up, including Ripple (XRP).

Additionally, there was quite a bit of positive crypto news making its way around the sector. For instance, the new XRP logo was revealed, and it was announced that William Shatner moved into the Bitcoin mining space. It was also announced on Thursday that Steve Bannon had moved into the crypto space. This can be thought of as either positive crypto news or negative crypto news, depending on your stance on Bannon.

With all that being said, we should mention that the piece of crypto news that went viral yesterday was the SEC deciding that Ethereum is not a security.

Friday, June 15

Coins started off Friday in the green, but that shifted very quickly. Now, all of the top-ten coins are in the red zone.

top crypto news
Source: CoinMarketCap

Of course, the day isn’t over yet, but here’s some trending crypto news from Friday thus far:

– Sweden’s Land Registry demonstrates live transaction on blockchain

– Tron (TRX) announces Google Chrome plugin

The Takeaway

Did you have a favorite piece of top crypto news from this week? Let me know!

Featured Image: Depositphotos/© hello.artmagination.com

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