China's government has reportedly imposed new restrictions banning the provision of energy services to cryptocurrency mining farms in Yunnan, while on the coast of El Salvador, citizens enjoyed a Bitcoin food festival. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍 In China, the government issued new restrictions for electricity companies to cut off power supplies to several mining plants cryptocurrencies, which are located in Yunnan province. Although this information has not been published by official sources, local media showed images of what appear to be original documents on Twitter.
According to the media, the state's measure in Yunnan province may be related to political interests in the region, and should not be taken as an initiative to ban cryptocurrency mining in China. However, Yunnan province is the fourth province in China that concentrates the greatest power of hash rate de Bitcoin in the country, so the computing power of the network may be significantly affected in the coming days. Likewise, the data provider Bitnodes shows that the number of nodes connected to the network is decreasing. At the time of writing, Bitcoin has 10.998 nodes connected.
📍 In El Salvador, the community of El Zonte celebrated a gastronomic festival where more than 1.600 transactions were made through a network-based wallet Lightning Network of Bitcoin. The festival was organized by Bitcoin Beach, a project aimed at boosting and leveraging the power of Bitcoin in the local economy of the country's coast. The project directors point out that in this area of El Salvador, many people do not have access to the traditional financial system, so it is an excellent opportunity to reveal the full potential of the market-leading cryptocurrency.
Michael Peterson, co-founder and project leader of Bitcoin Beach, said that processing more than 1.600 transactions during the festival was a challenge for his wallet that is in the early stages of development, but it also represents the push the team needs to continue moving forward with the project and add new features.
📍 Year Finance, the protocol DeFi for yield farming will also be bringing SushiSwap into its avalanche of mergers. Recently, the Pickle Finance and Cream protocols announced their interaction with Yearn Finance, the former to recover after suffering a hack of more than 19 million dollars, and the latter to boost the launch of its new token.
Now the fusion SushiSwap’s partnership with Yearn Finance aims to increase its liquidity, improve its features, and leverage the technical expertise of both protocols. Additionally, SushiSwap will be Yearn Finance’s chosen automated market maker to implement its yield farming strategies, Yearn Finance developer Andre Conje explained in the document. SushiSwap suffered an exploit a few days ago in which it lost nearly $15.000 USD of its users’ earnings.
📍 In Ukraine, the country's Ministry of Digital Transformation is issuing a SCHEDULE online education and training on YouTube, in conjunction with several exchanges and cryptocurrency companies. The aim of the series is to educate Ukrainian citizens about the benefits and potential of cryptocurrencies such as Bitcoin and new technologies such as blockchain, to promote the transformation of society.
The state initiative is part of the objectives of its plan «Diia.Digital Education«, promoted by the country's government, and the participants
📍 In Spain, the blockchain startup Traceability ranked among the 10 finalist companies of the National Competition for Young Entrepreneurs 2020, carried out by the Spanish Youth Institute (INJUVE) once a year.
The 10 selected projects are focused on various verticals focused on development, innovation and production. Each of these selected projects will receive funding of 20 thousand euros, as well as support from the institute to continue its development. Traceability offers innovative solutions to improve traceability and transparency in the food industry and in supply chains.
Continue reading: DeFi suffers a new attack, but this time it is thwarted “in time”
