A huge amount of profits are being generated for countries through this cryptocurrency mining. For this reason, governments are channelling their surplus resources to boost the mining business and the entire cryptoasset sector.
The United States (US) defense intelligence authority the National Security Agency (NSA) is purportedly designing a quantum-resistant crypto. The NSA has circumscribed it resources and undertakings in the blockchain and cryptoasset arena to track all Bitcoin (BTC) users, and it has even gone ahead to create its own electronic money.
The US Senate committee on Energy and Natural Resources issued a document stating that mining consumes about 1% of global energy. On public blockchains, mining embroils the computation of a massive amount of mathematical calculations known as hashes. On a normal day, Bitcoin miners collectively compute over 50 billion gigahashes per second.
A lot of society’s resources have been spent to enable the voting process of civil rights. Italy alone spent over €389 million to conduct the 2013 parliamentary elections. It is now investing heavily to enable efficient blockchain-based e-voting in the future.
In the latest Bitcoin (BTC) versus Silver (SLV) analogue piece, remarkable similarities can be seen in the charts. Trying to puzzle out the time frame of the consolidation point is very crucial. In Silver, the consolidation period timing was more than 90 days, nevertheless, the 500% rally also took around 30 months. In Bitcoin, the 500% rally took around 9 months.