Kraken’s Crackers – Crypto & Blockchain Recap: 12th December, 2018

Here are some of the recent happenings of the crypto and blockchain world that you probably need to know about.

Kraken’s Crackers

One of the well-renowned crypto exchanges that goes by the name of Kraken is now looking for investors for a fundraising round, with the firm being valued at $4 billion.

The CEO of the firm stated while talking to a news source that a limited time opportunity is now available to buy Kraken’s shares with a $100,000 minimum mark set.

The CEO also suggested that the company is already sitting on a lot of reserves so the current fundraising does not come off as a necessity. This is being done to align interests with the exchange’s top clients and to build a war chest in the time of a bear market, a win-win situation.

Iran and Mining

In the hindsight of the bear run that is being seen for quite some time now, we have seen various miners shut down their activities owing to the rise in expenses. A lot of electricity is required for one to participate in the process of mining and if the rewards are not great, it becomes natural to shut down the activity.

On the other hand, in Iran, the cost of electricity is not that much. Miners can have relaxation in terms of the cost that they get from electricity consumption. But the procedure if setting up a mining rig in Iran is not that simple. There are legal grey areas and a certain risk of the sanctions is also associated. Border control is also very strict. Machines can also be confiscated by the border control forces. In addition, owing to the risk of the U.S. sanctions, companies are a bit hesitant in moving to Iran for the mining process.

But according to a news source, a firm has shifted at least 2,000 miners in the country.

Ethereum Update

Geth (Go-ethereum), which is one of the ethereum’s most well-known clients, has now locked the upcoming hard fork of the network that goes by the name of Constantinople in its code. The activation of this upgrade would add a lot of additional features in the network.

This upgrade was postponed by the ethereum developers previously as it was supposed to happen in November. Now, if the adoption of this upgrade takes place by the users, it is expected to go live somewhere between January 14th to January 18th.

The upgrade will also reduce the block reward from 3 ETH to 2 ETH.

SEE ALSO: Crypto & Blockchain Recap: 11th December, 2018

Ahsan Khalid

Blockchain Developer. An Electrical Engineer with majors in software development. I present forward my insight regarding the latest happenings of the blockchain world. All views on my articles are my own. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

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