Technology

Bitcoin World Faces ‘Halving’: What’s Happening?

Published

4 years ago

May 8, 2020

Bitcoin miners, whose laptop processors enable the working of the world’s hottest digital foreign exchange, will shortly face an event that takes place every 4 years and alters the profitability of the hi-tech commerce.

So-called halving is when cryptocurrency-mining firms and individuals uncover out the decreased payment that they might acquire in return for his or her contribution to the system’s clear operation.

Bitcoin was created in 2008 by a person or group writing beneath the pseudonym Satoshi Nakamoto as a peer-to-peer decentralized digital cash system.

The digital unit was as quickly as the defend of internet geeks and hobbyists nonetheless it has since exploded in recognition, with mining carried out by giant banks of pc programs.

How does mining work?

Bitcoins are traded by means of a decentralized registry system known as a blockchain.

The system requires giant laptop processing vitality with a view to deal with and implement transactions.

That vitality is provided by miners, who accomplish that throughout the hope they might acquire new Bitcoins for validating transaction information.

The system poses a fancy laptop puzzle to decide which miner wins the privilege to validate the block and thus acquire the reward.

“To know halving, it is vitally essential keep in mind the place of miners, who’re principally accountable for the Bitcoin neighborhood security,” ThinkMarkets analyst Fawad Razaqzada instructed AFP.

“Each time a block of Bitcoin transaction takes place, they must be verified by miners. The miner that verifies each block will get a reward for its work with further, newly created, Bitcoins.”

What’s halving?

This occurs every 4 years and principally entails the halving of the reward from Bitcoin mining.

The cryptocurrency’s first “halving” occurred in November 2012, and the second in July 2016. The third is broadly anticipated to occur subsequent Tuesday.

“Halving will have an effect on the profitability of mining Bitcoin on account of work and sources may wish to double with a view to acquire the an identical reward as sooner than,” added Razaqzada.

“Nonetheless, if the value of Bitcoin appreciates significantly then this will offset among the many costs.”

Enterprise mining operations sometimes occupy giant hangers or warehouses, and devour huge portions of electrical vitality to vitality and funky the pc programs, which is a considerable worth together with gear.

Why reduce the reward?

The reward was initially set at 50 Bitcoins nonetheless it was subsequently decreased to 12.5 and may seemingly attain merely 6.25 subsequent week.

The amount has been trimmed over time with a view to implement an complete world limit of 21 million Bitcoins.

“With the supply of Bitcoins mandated to in the end attain the limit of 21 million, the creator(s) of the digital foreign exchange had decided that these rewards ought to decay exponentially, in another case present isn’t going to be managed,” added Razaqzada.

“So, the neighborhood is programmed to cut the reward every 210,000 blocks, or about every 4 years,” he talked about, noting that the halving date trusted mining train.

What’s Bitcoin value?

Bitcoin stood late Tuesday at $9,200 (roughly Rs. 6.97 lakh) after a uneven few months linked to coronavirus markets turmoil

That compares with $7,100 (roughly Rs. 5.38 lakh) firstly of the yr, in accordance with Bloomberg information, nonetheless it stays faraway from the file extreme $19,511 (roughly Rs. 14.79 lakh) hit in December 2017.

“February and March have been powerful months for Bitcoin like completely different menace property, nonetheless the digital foreign exchange has staged most likely probably the most spectacular restoration,” talked about Razaqzada.

“That’s partly due to the reality some patrons ponder Bitcoin to be a safe-haven asset, whereas some have undoubtedly bought speculatively ahead of the so-called ‘halving’ event in anticipation (that) we could even see the value of the cryptocurrency acknowledge.”

Technology

Samsung develops the fastest DRAM chip for AI applications in the industry

Published

2 days ago

April 17, 2024

IANS

Samsung develops industry's fastest DRAM chip for AI applications

In a groundbreaking development, Samsung has announced the creation of the industry’s first low-power double data rate 5X (LPDDR5X) DRAM chip for AI applications. The new chip boasts high performance of up to 10.7 Gbps, marking a significant improvement in both speed and capacity compared to previous models.

Low-power, high-performance LPDDR chips are becoming increasingly important in the on-device AI market. Samsung’s latest LPDDR5X products, developed with 12 nanometer-class process technology, are the smallest in size among existing LPDDR chips, further cementing the company’s position as a leader in the low-power DRAM sector.

A company spokesperson stated, “Samsung will continue to innovate and deliver optimized products for the upcoming on-device AI era through close collaboration with customers.” Mass production of the LPDDR5X is set to commence in the second half of the year, pending verification by mobile application processor and device providers.

The unveiling of Samsung’s LPDDR5X DRAM chip represents a significant step forward in the field of AI technology. The chip’s impressive performance and capacity enhancements are expected to further drive the adoption of on-device AI solutions in various industries. This groundbreaking innovation is sure to set a new standard for memory solutions tailored for AI applications.

Technology

PM Modi expresses strong interest in Zoho’s rural development model: Sridhar Vembu

Published

2 days ago

April 17, 2024

IANS

PM Modi showed keen interest in our model of rural development: Zoho's Sridhar Vembu

New Delhi, April 17 (IANS) – Zoho Founder and CEO, Sridhar Vembu, revealed that Prime Minister Narendra Modi expressed interest in Zoho’s rural development model in Tenkasi district, Tamil Nadu during his recent meeting. PM Modi praised the company’s efforts in creating high-tech capabilities and jobs in rural areas.

During an election rally in Ambasamudram, PM Modi met Vembu to discuss Zoho’s rural development through R&D model. Vembu expressed gratitude towards PM Modi for taking the time to understand and appreciate the company’s operations in Tenkasi as a model of rural development.

“PM Modi came to Ambasamudram which is close to my village. Even in the middle of his hectic campaign schedule, he gave me time to meet him and brief him on our rural development through R&D model and on creating high-tech capability and jobs in rural areas,” Vembu shared on social media.

Vembu highlighted that PM Modi showed keen interest in Zoho’s Tenkasi operations. He praised the Prime Minister’s leadership and expressed his support for his continued health and service to the nation. Zoho, founded in 1996 and headquartered in Chennai, employs over 15,000 individuals globally.

During his rally in Ambasamudram, PM Modi criticized the DMK in Tamil Nadu, alleging that they conspired with the Congress to hand over the Katchatheevu island to a foreign nation. PM Modi emphasized his commitment to developing a ‘Viksit Tamil Nadu’ along with a ‘Viksit Bharat’ for overall progress.

The interaction between PM Modi and Zoho’s CEO highlights the government’s interest in innovative rural development models like the one implemented by Zoho in Tenkasi district. The meeting signifies a recognition of the potential for high-tech job creation in rural areas leading to localized economic growth and development.

Technology

MediBuddy Healthcare Platform Reaches Break-Even Point in Fiscal Year 2024

Published

2 days ago

April 17, 2024

IANS

Healthcare platform MediBuddy achieves break-even in FY24

New Delhi, April 17 (IANS) Digital healthcare platform MediBuddy has announced that it has reached break-even with a marginal loss in the previous fiscal year, moving towards EBITDA neutrality. The company has seen a significant increase in its user base by 2.4 times over the last three years, serving close to 3 crore people with over 1 crore subscribers.

According to Satish Kannan, Co-founder and CEO of MediBuddy, “By leveraging technology, our platform enhances doctor-patient interactions, fueling remarkable growth and expanding healthcare access nationwide.” The company is now focusing on exploring mergers and acquisitions opportunities in key healthcare areas such as chronic disease management, mental health, diabetes, women’s care, and weight management, supported by an $18 million capital pool.

MediBuddy has a network of over 90,000 doctors across more than 22 specialities, and works with over 7,100 hospitals and clinics. The company has also onboarded over 10,000 hospitals and diagnostic centers for all radiology and pathology investigations. Kannan stated, “We empower doctors through our platform, offering accessible care via video consultations, hospital visits, clinics, pharmacy deliveries, and diagnostic services.”

The company’s commitment to innovation and technology has led to its break-even milestone, as it continues to focus on providing quality healthcare services to its growing user base. MediBuddy’s emphasis on enhancing doctor-patient interactions and expanding healthcare access has contributed to its success in achieving break-even status in the previous fiscal year.