Category

Economy

Bitcoin’s Energy Consumption Surpasses Ireland

One of the earliest investigations into the energy consumption of the Bitcoin network was conducted by Karl J. O’Dwyer and David Malone, from the Hamilton Institute and Maynooth University in Ireland. In their research titled “Bitcoin Mining and its Energy Footprint”… Continue Reading →

Bitcoin Sustainability Report October 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

A Deep Dive in a Real-World Bitcoin Mine

At the start of August, 2017, several media were granted access to one of the world’s largest Bitcoin mines, located in Inner Mongolia (China), operated by Bitmain Technologies. Bitcoin mines typically keep their operations private, hence visits like these offer… Continue Reading →

Fraud Risk Assessment: Kraken

Kraken (kraken.com), owned by Payward, Inc., was launched in California in 2011 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence… Continue Reading →

Bitcoin Sustainability Report September 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Bitcoin Sustainability Report August 2017

Digiconomist is committed to promoting (the development of) sustainable blockchain technology. Blockchain protocols such as Bitcoin currently run on the energy-slurping proof-of-work algorithm (creating these proofs of work is better known as “mining”). The Bitcoin Energy Consumption index is a… Continue Reading →

Fraud Risk Assessment: BitBay

BitBay (bitbay.net) was launched in the Poland in 2014 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red… Continue Reading →

Fraud Risk Assessment: Bittrex

Bittrex (bittrex.com) was launched in the United States in 2014 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious… Continue Reading →

Fraud Risk Assessment: Coinfloor

Coinfloor (coinfloor.co.uk) was launched in the United Kingdom in 2013 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious… Continue Reading →

Fraud Risk Assessment: LakeBTC

LakeBTC (lakebtc.com) was launched in 2013 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red flags or warning… Continue Reading →

Fraud Risk Assessment: HitBTC

HitBTC (hitbtc.com) was launched in 2013 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red flags or warning… Continue Reading →

Fraud Risk Assessment: ANXPRO

ANXPRO (anxpro.com) was launched in 2013 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red flags or warning… Continue Reading →

Fraud Risk Assessment: Poloniex

Poloniex (poloniex.com) was launched in 2014 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red flags or warning… Continue Reading →

Introducing the Ethereum Energy Consumption Index

As of today, Digiconomist is featuring an Ethereum Energy Consumption Index. It has been half a year since the Bitcoin Energy Consumption Index was launched. Since then, Ethereum has established itself as the most significant rival to the popular digital… Continue Reading →

Exchange Review: Huobi

Huobi is one of China’s “Big Three” Bitcoin exchanges. The platform was founded in 2013 by Leon Li, and has been a great place to trade for Chinese traders ever since. At the same time Huobi struggles to appeal to… Continue Reading →

Dutch startup bit4coin partners with German Sutor Bank for international payment solution

bit4coin, the Dutch bitcoin platform uses the Sutor Bank banking platform to optimise payment processes between importers and exporters. The Fintech uses the API bank account of Sutor Bank for the bitcoin-based payment process that sets up an interface (API)… Continue Reading →

Fraud Risk Assessment: BTCC

BTCC  (btcc.com) was launched in Shanghai in 2011 as a provider of Bitcoin exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red flags… Continue Reading →

Fraud Risk Assessment: Huobi

Huobi (huobi.com) was launched in Beijing in 2013 as a provider of Bitcoin and Litecoin exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious… Continue Reading →

Fraud Risk Assessment: ItBit

ItBit (itbit.com) was launched in Singapore in 2012 as a provider of cryptocurrency exchange services. The company’s legitimacy has been evaluated based on the items listed below. Every individual item has been checked for the presence of obvious red flags… Continue Reading →

Bitcoin Electricity Consumption: An Economic Approach

Ever since Bitcoin’s inception its trust-minimizing consensus has been enabled by its proof-of-work algorithm. The work is performed by so-called miners; power hungry machines that produce as many hashes per second as possible hoping to create a valid new blocks… Continue Reading →

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