The hash rate map published by Foundry USA shows that Texas is the state with the highest proportion of Bitcoin hash rate in the United States. This 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.
Texas leads the Bitcoin hash rate in the United States
📍The state of Texas accounts for more than 28% of all Bitcoin network hash power in the United States. According to Foundry USA’s Bitcoin mining map, which shows the distribution of blockchain computing power by state, Texas currently accounts for 28,5% of the Bitcoin hash rate in the country.
The states of Georgia, New York, New Hampshire and Pennsylvania follow Texas as the states that account for the largest proportion of the Bitcoin network hash rate.
According to data from the Cambridge University Centre for Alternative Finance (CCAF), 37,8% of Bitcoin's global computing power is concentrated in the United States.
It may interest you: Texas stands as the next paradise for Bitcoin and cryptocurrency miners
The Pet Collective to launch NFTs on Theta Network
📍Pet video-sharing collective The Pet Collective is teaming up with the Theta network to offer fans exclusive NFTs and content. The Pet Collective is adopting Theta Network’s blockchain-based video technology to offer a collection of NFTs to its more than 5 million social media users. These NFTs will unlock access to exclusive video content on the platform, it said.
Commenting on the collaboration, Mitch Liu, CEO of Theta Network, said that NFTs will help The Pet Collective identify true pet enthusiasts. Through NFTs and exclusive video content on Theta Network, casual pet video seekers will become active pet video seekers, Liu said.
The important role of DeFi in the financial market according to BIS
📍The Bank for International Settlements (BIS) believes that the DeFi sector will drive the next wave of financial market infrastructure. This was stated by the entity in its recent report about Mariana Project, focused on creating a wholesale central bank digital currency (CBDC).
The bank said it had used various elements of the decentralized finance sector, such as automated market makers (AMMs), to assess their impact on the financial market. Through the Mariana pilot, the bank assessed how AMMs can contribute to improving market efficiency and reducing settlement risks to ensure wholesale CBDC trading.
Based on the aforementioned study, the BIS concluded that decentralized finance is an emerging sector that should be explored to discover new use cases.
AI will be key to the future of Web3
📍Former Alibaba Chief Strategy Officer Ming Zeng talked about the importance of Artificial Intelligence for the development of the Web3 industry. Speaking at the 3th Annual Global Blockchain Summit, Zeng said that in the next two years, the WebXNUMX industry will see the arrival of new crypto-native services powered by Artificial Intelligence.
According to Zeng, deeper integration between cryptocurrencies, Web3 and AI seems inevitable for the development of next-generation killer applications and infrastructure.
Zeng talked about the significant development that the Web3 industry has achieved in recent years, which has given rise to new market niches such as NFT tokens, decentralized finance (DeFi), and play-to-earn (P2E) games. However, the current trend is Artificial Intelligence. Therefore, although it is not clear how AI will transform Web3 or what form this technology will take in the crypto industry, it is expected that the integration of both innovations will generate new applications that “will bring a large number of new users and set the direction for the future development of the infrastructure”, boosting the entire crypto ecosystem.
Recently, Meta Platforms, Mark Zuckerberg’s social media company that changed its name to focus on the metaverse, introduced a new AI-powered chatbot to compete with other options available on the market, such as OpenAI’s ChatGPT.
In his presentation, Zuckerberg highlighted that the company will focus on AI to build new tools that meet different needs and that users will be able to use these intelligent tools throughout the Meta ecosystem.
Continue reading: Uniswap Foundation seeks funding to strengthen and grow its DeFi ecosystem
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