Tech Update 03/08/2022
Algorand Releases Major Upgrade
ALGO is the cryptocurrency used on the Algorand Blockchain. The blockchain allows for ALGO to be used for purchases, buying/selling goods with very low transaction fees. The purchases are nearly instant and the fee charged depends on the platform being used, but is the minimum fee is 0.01 ALGO (less than one cent in transaction fees).
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2/ Contract-to-contract calls enable development teams to build much more powerful and versatile #dapps on Algorand by allowing one smart contract to call another. @AlgoKenyon introduces this new functionality here 👇 https://t.co/dk4i241QjN
— Algorand (@Algorand) March 2, 2022
Cipher Mining Ditches Plans to Buy Bitfuy Mining Rigs
Cipher Mining (CIFR) is a New York based Bitcoin mining firm with fulfillment contracts with Bitmain and MicroBT. Bitmain still remains the leader of Bitcoin ASIC miners (In mining power and efficiency), with the 2nd generation Intel chips coming in second now. The company is under contract to buy 60,000 ASIC rigs from Bitmain and another 27,000 from MicroBT this year.
Cipher Mining had also previously pre-ordered tens of thousands of mining rigs from Bitfury at a maximum purchase price of $6,250. At maximum values, the order would have toatalled $350 million. While this will skew Cipher Mining’s mining projections, the company still plans to have 7.2 exahash/second (EH/s) with the purchase orders from Bitmain and MicroBT.
Cipher started mining at a 40 MW, wind-powered facility in February and expects to spend around $0.0273 per kilowatt hour for the next 5 years.
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