ICON Introduces BTP to Ensure Interoperability among Various Blockchains
The South Korean blockchain project ICON on Thursday introduced the Blockchain Transmission Protocol (BTP) solution, designed to ensure the compatibility of various chains, call procedures, exchange assets and data between them.
According to the announcement, BTP is a standard for ensuring the compatibility of heterogeneous blockchains, including those based on different consensus models and algorithms. The exchange of assets between blockchains in BTP is carried out using a set of smart contracts at the protocol level without involving centralized services.
As an example of using BTP for data exchange, developers call the interaction between the clients of their corporate education ICONLOOP. It is assumed that such clients will be able to freely distribute information that has been authenticated in the main ICON network over a variety of private and public networks.
At the same time, implementation on the basis of smart contracts imposes restrictions on the use of technology. So, blockchains that do not have support for smart contracts can only transmit messages to the network, but not receive them.
Bitmain developers introduced a miner with a payback of 600 days
Specialists of the popular manufacturer of mining equipment Bitmain introduced a new device for mining cryptocurrencies based on the SHA256 algorithm - Antminer T19. Information about this appeared in the microblog of the organization.
The power consumption of the miner will be 3150 W ± 5%. The hash rate promised by the manufacturer is 84 TH / s ± 3%. The declared cost of the Antminer T19 is $ 1749.
With the cost of electricity at the level of 0.05 kWh and the price of bitcoin $ 9539, the net profit per day from mining BTC on the basis of the new device will be $ 3.13. It turns out that the payback period is about 600 days.
Cryptocurrencies started to be regulated in Canada
On June 1, amendments to Canadian law entered into force that provide for the regulation of cryptocurrency companies as enterprises that provide money transfer services.
The amendments were first published by the Canadian government last July. From now on, cryptocurrency companies providing services to residents of Canada, including foreign ones, must comply with the requirements of the Financial Transaction Analysis and Reporting Center (FINTRAC) and register with it. As regulated activities with cryptocurrencies, lawmakers call the exchange and implementation of money transfers.
Founder of the Canadian crypto company Bull Bitcoin and activist of the local Bitcoin Embassy Francis Pulio said on May 31: “Today is my last day as an unregulated virtual currency dealer. The circle closed after 7 years from the moment I began my career in the space of bitcoin with lobbying for this very issue. Overall, I consider this a huge achievement. New regulation is not perfect, but it could be worse. Our position is unchanged: Bitcoin is money, it must be regulated like money, no more, no less. That is what we got. ”
$9,750 - A Key Goal for Continuing BTC Growth
Bitcoin is trading above the support zone of $ 9,400 and the price will pave the way for growth above $ 10,000 if it can pass resistance at levels of 9,600 and 9,750 dollars.
During the Asian trading session, bitcoin rose to $ 9,745 and recently started a downward correction. BTC was trading below 9'600 and 9'500 dollars. However, the previous key resistance of about $ 9,400 and a 100-hour simple moving average acted as the main supports.
The minimum correction was formed around $ 9'381 and Bitcoin is currently growing. A breakthrough occurred above the Fibonacci correction level of 23.6%, stretched from a decline from a maximum of 9'745 to a minimum of 9'381 dollars. After successfully closing above $ 9,300, BTC continued to rise above resistance at 9,400 and even exceeded $ 9,500 and a 100-hour simple moving average.
Moreover, on the hourly chart of the BTС / USD pair there was a break above the key declining triangle with a resistance of about 9'500 dollars. The pair is currently testing a 50% Fibonacci retracement rate.
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