bitcoin
Bitcoin (BTC) $ 17,245.65
ethereum
Ethereum (ETH) $ 1,297.33
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 295.81
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.394627
dogecoin
Dogecoin (DOGE) $ 0.104890
cardano
Cardano (ADA) $ 0.325297
matic-network
Polygon (MATIC) $ 0.934216
polkadot
Polkadot (DOT) $ 5.70
staked-ether
Lido Staked Ether (STETH) $ 1,284.47
litecoin
Litecoin (LTC) $ 78.03
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 22.00
dai
Dai (DAI) $ 1.00
solana
Solana (SOL) $ 14.08
tron
TRON (TRX) $ 0.053467
uniswap
Uniswap (UNI) $ 6.39
avalanche-2
Avalanche (AVAX) $ 14.17
chainlink
Chainlink (LINK) $ 7.54
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 17,225.29
leo-token
LEO Token (LEO) $ 3.80
cosmos
Cosmos Hub (ATOM) $ 10.47
ethereum-classic
Ethereum Classic (ETC) $ 19.83
the-open-network
The Open Network (TON) $ 1.81
monero
Monero (XMR) $ 144.17
stellar
Stellar (XLM) $ 0.088591
bitcoin-cash
Bitcoin Cash (BCH) $ 112.32
quant-network
Quant (QNT) $ 131.92
crypto-com-chain
Cronos (CRO) $ 0.072454
algorand
Algorand (ALGO) $ 0.244830
filecoin
Filecoin (FIL) $ 4.61
apecoin
ApeCoin (APE) $ 4.23
near
NEAR Protocol (NEAR) $ 1.76
vechain
VeChain (VET) $ 0.019455
internet-computer
Internet Computer (ICP) $ 4.51
hedera-hashgraph
Hedera (HBAR) $ 0.048888
flow
Flow (FLOW) $ 1.14
terra-luna
Terra Luna Classic (LUNC) $ 0.000178
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.63
eos
EOS (EOS) $ 0.939366
frax
Frax (FRAX) $ 1.00
trust-wallet-token
Trust Wallet (TWT) $ 2.44
the-sandbox
The Sandbox (SAND) $ 0.599265
aave
Aave (AAVE) $ 65.75
tezos
Tezos (XTZ) $ 1.02
chiliz
Chiliz (CHZ) $ 0.169746
theta-token
Theta Network (THETA) $ 0.899471
lido-dao
Lido DAO (LDO) $ 1.12

Working Group to Develop Efficiency Standard for Crypto Mining in Russia – Mining Bitcoin News

0

Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime.

Russia Prepares to Improve Efficiency of Mining Facilities in 2023

A group of crypto specialists have teamed up to elaborate a standard that should improve the overall efficiency of mining and in particular the use of energy to mint digital currencies. The set of rules and procedures will be designed to increase the time the expensive data processing equipment operates under optimal load which should result in higher profitability.

The standard, which is expected to be released for adoption in February next year, will be prepared by members of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), the cryptocurrency sector, and other associated industries, the Russian crypto news outlet Bits.media reported this week.

The decision to establish the working group was announced at a crypto summit held in Moscow, during a presentation on the topic made by representatives of Racib, mining data center operator Vekus Mining Development and Yuri Kudryashov, director of Russia’s Research Institute for Sustainable Development in Construction.

The main purpose of the forum was to talk about the development of the digital environment and digital financial assets in general. Participants discussed the pending legalization of mining in Russia and other activities related to blockchain and cryptocurrencies, the introduction of central bank digital currencies, and the spread of tokenization. The summit also focused on education and security issues.

New Standard Expected to Reduce Downtime at Crypto Mining Farms

A scientific approach, with computer modeling of temperatures and speeds, should help to improve the quality of engineering solutions for mining modules, Yuri Kudryashov is convinced. It should also allow the proper calibration of ventilation systems, taking into account indicators such as humidity, season, region, and the particular location where a crypto mining unit is installed, the official elaborated.

According to Vera Burtseva, strategic marketing director at Vekus Group, the efficiency standard the working group is tasked to develop will reduce shutdowns of mining hardware and downtime due to extreme weather conditions, and decrease maintenance costs while increasing the equipment’s operating time and service life.

The new standard will be incorporated into the ‘Green Zoom’ national system of sustainable development in Russia’s construction sector. The same has already been applied in housing construction, the tourism industry, and the building of traditional data processing centers.

Cryptocurrency mining, an expanding industry in energy-rich regions of the Russian Federation, is yet to be regulated on the federal level. Lawmakers in the Stated Duma, the lower house of parliament are expected to review comprehensive legislation in the coming months. Earlier this year Russia’s advantages as a mining destination were highlighted by President Vladimir Putin but sanctions imposed over Moscow’s decision to attack Ukraine hurt the business later.

Tags in this story

Crypto, crypto miners, crypto mining, Cryptocurrencies, Cryptocurrency, cryptocurrency mining, efficiency, experts, legalization, Miners, mining, mining facilities, mining farms, Profitability, Regulation, Russia, russian, standard, working group

Do you think Russia will implement a crypto mining efficiency standard next year? Share your thoughts on the subject in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

More Popular News

In Case You Missed It

Source link

Leave A Reply

Your email address will not be published.

Shares