Some Bitcoin mining farms in Sichuan are shutting down

The Steem drama continues with an attempt to take over 23.6 million tokens

The Steem Network (STEEM) experienced another hard fork during the day, continuing the drama generated by Justin Sun’s acquisition of Steemit. The hard fork would have had two purposes – to reduce the downtime from 13 weeks to four weeks and to take over 23.6 million STEEM tokens associated with the “rebel” faction that created HIVE.

Apparently, the second objective failed, as those funds were “saved” by an anonymous account on Bittrex.

In another attempt to “protect the property rights of users of the Steem community,” Steem, led by Justin Sun of Tron, intended to seize some user accounts that would have posed a threat to the network.

The planned hard fork facilitated the transfer of funds from 64 Steem accounts to another account called “community321”. Immediately after the transfer, STEEM tokens worth about $ 5.7 million were sent to Bittrex, which refused to return due to the hard fork controversy.

It is currently unclear who owns the ‘community321’ account and to whom those tokens should belong.

Some Bitcoin mining farms in Sichuan, forced to stop

According to local media reports, some Bitcoin mining farms in Sichuan have shut down due to fluctuations in electricity supply. Apparently, the high temperatures in the region have caused a decrease in electricity production by hydropower plants.

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Bitcoin mining farms have faced power outages or restrictions imposed by local authorities.

“Some farms had their electricity cut off for three days, and others were only allowed to operate at night. Areas near the capital of Sichuan, Chengdu, such as Wenchuan, suffer from frequent power outages, while remote areas such as Ya’an and Kangding, with low electricity demand and sufficient rainfall, have reported fewer such incidents. “

reported the local news site Blockbeats.

The difficulty of mining Bitcoin decreased yesterday by 6% in response to the decrease in the hash rate, recorded after halving. Downward regulation indicates that several miners have ceased mining in the last 2 weeks.

DeFi statistics

CoinGecko conducted a survey of 694 people on DeFi in March 2020, which revealed a number of findings.

The first is that the vast majority of those who know the field are men (91%), more than half (68%) aged between 20 and 39 years.

Second, 90% of respondents have at least one stable cryptocurrency, with DAI being the most popular and second in quantity. In fact, the top 5 stable cryptocurrencies are also the ones with the largest market capitalization: USDT, USDC, TUSD, PAX and, of course, DAI. Both rankings are dominated by USDT (Tether).

Another conclusion is that DeFi protocols, although they have a high level of brand awareness, still have limited use. Most respondents use them in addition to banking, but feel that they are not yet secure or mature enough to replace banks completely.