Mining on free gas – news of cryptocurrency startups

A mining startup based on the efficient energy of burning associated gas has raised $70 million in funding, of which $4.5 million came from the Winklevoss brothers' company.

The American startup Crusoe Energy Systems plans to use associated gas from shale deposits for mining, 14 billion cubic meters of which annually burns for nothing due to the lack of pipeline capacity. This amount of gas is enough to provide more than 10 million homes.

The company now maintains eight modular Digital Flare Mitigation (DFM) systems in operation, and will include 30 more by the middle of next year.

The Ethereum Foundation will stop funding young teams.

This became known from a tweet from PlayProject developer Nina Breznik. The only reason that comes to mind is the lack of finance, but Vitalik Buterin, the founder of the company, said that everything is fine with the money:

«It is not a problem of lack of money. The organization's annual budget is still $30 million, and the existing reserves will last another six years. We recently evaluated some internal teams and excluded them because we no longer want to fund them».

The EOS rating has fallen due to the large number of whales.

0.01% of EOS token holders control 68% of votes and for this reason Weiss Ratings lowered the company's rating from B to C.

Such a number of whales are able to imitate the activity of blockchain users, and in June, EOS was accused of the fact that 75% of the network's transactions were made by bots. As you can see, the company has “serious problems” with decentralization.

The British exchange Vaultor, which was the first to offer the exchange of cryptocurrency for physical gold, raised $1.1 million through crowdfunding.

The developers planned to raise a much smaller amount - $700,000.

Vaultor began its work in 2015 and is currently working on the creation of a VGold token based on the Lightning Network and the RGB protocol, which is planned to be launched later this year.

Recommendation from the Coin24.io service: Non-alternative energy for the extraction of alternative money