El Salvador plans to issue stable currency, and the difficulty of BTC mining will be reduced again!
It is reported on July 19 that the global stable currency market is growing rapidly. Based on the concept of stable currency, the Salvadoran government plans to launch a local cryptocurrency by the end of 2021, which is similar to the stable currency issued by the state. It is now known as “Colón-Dollar”.
According to the ZB Institute, El Salvador is planning to use blockchain technology to digitize a series of public and private documents, including personal identity cards and real estate certificates. According to industry sources, after the bitcoin law was passed, El Salvador’s plan to launch a national cryptocurrency remains unchanged.
Although there is no evidence that the Salvadoran government plans to replace the US dollar with Colón-Dollar, the emergence of cryptocurrency issuers based on the national government is enough to shock the industry.
According to the statistics of ZB Research Institute, as of July 19, 2021, the total circulation of stable currency on Ethereum has exceeded US $75 billion, the highest level in history. According to the issuing data of stablecoin, the three stablecoins with the highest market share are USDT, USDC and BUSD.
According to the statistics of ZB Research Institute, USDT: 28.91 billion US dollars, accounting for 38.47% of the total circulation; USDC: US $25.587 billion, with circulation accounting for 34.05%; BUSD: US $11.337 billion, with circulation accounting for 15.09%. Among them, the circulation of USDT has not changed in the past 48 days since the issuance of 1 billion more on May 31.
On July 19, the economic daily published an article entitled “industrial economy running steadily and improving quality — Interpretation of China’s economic semi annual report”. The article showed that in the first half of the year, the added value of high-tech manufacturing industry increased by 22.6% year on year, significantly faster than the overall industry. The output of new energy vehicles and industrial robots increased by 210% and 69.8% respectively on a year-on-year basis. New industries of digital economy such as big data, cloud computing and blockchain are booming.
ZB Research Institute believes that the global blockchain and other new industries of digital economy will continue to flourish. In the blockchain industry, the problems in separate fields will be gradually solved with the development of the industry.
According to the news on July 19, the mining difficulty of bitcoin has been adjusted, down 4.81% to 13.67T. This is the fourth consecutive decline in bitcoin mining difficulty, down 45.4% from the peak of 25.05T on May 13. The current difficulty has reached a new low since January 2020.
In view of the transfer of global mining industry from China to the world, stimulated by the reduction of mining difficulty, the transfer of mining industry will evolve from passive transfer to active reception. At present, BKRP, a Nevada company, announced that it has signed a contract with OMH to host and operate up to 1 million bitcoin mining machines.
It is reported that the term of the contract is 24 months, and OMH will pay all the electricity supply costs.According to people familiar with the matter, most of the mining machines come from China and are exported to Canada by OMH. BKRP will deploy them in three natural gas production bases in Alberta, Canada. The first 200000 mining machines will be hosted at the Quirk Creek natural gas plant recently announced by BKRP and operated by CMC.
