Blockchain and Cryptocurrency News Roundup

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  • June 8, 2020
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8 June 2020.

We’re into the second week of June and The Bitcoin networks mining difficulty has dropped for the second time after the halving, The Saudi Arabian Central Bank has transferred funds over the blockchain. Catch up on this and more below.

Bitcoin Mining Difficulty Drops by 9%

“At block height 633,024, reached on 12:30 UTC Thursday, the Bitcoin blockchain adjusted its mining difficulty to 13.7 Trillion with a 9.29% drop and reached the lowest level since January this year. According to data compiled by CoinDesk Research, today saw the eighth largest negative difficulty adjustment in Bitcoin’s history and the eighth instance of two or more consecutive negative adjustments. The Thursday adjustment also follows a 6% drop recorded on May 20, which was the network’s first difficulty change after Bitcoin’s quadrennial halving event.”


Tether is Transacting Over 1 Billion USDT on Ethereum Daily

“After surpassing ETH already in July 2017, USDT is now transferring over $1 billion each day on the Ethereum Network. That is more than twice the value ETH transfers daily. The gap between the two is widening. While some of this is related to the fluctuations in the ether price, it also shows that Tether’s stablecoin is growing both in market value and adoption.”


Block.One Backed “Voice” to Release on 4 July 2020

“Salah Zalatimo, CEO at Voice, just published a post about the decentralized social media backed by Block.One in which he announced the long-awaited worldwide launch of the platform. Indeed, the Voice will be released to the world on July 4th, in less than a month!”


Central Bank of Saudia Arabia Transfers Funds Over The Blockchain

“Saudi Arabian Monetary Authority (SAMA) has recently used blockchain technology to deposit part of the liquidity that SAMA had previously announced, to be injected into the banking sector, as part of SAMA’s actions aimed at enhancing the sector’s capabilities to continue its role in providing credit facilities. This action comes as a part of SAMA’s continuous efforts in exploring and experimenting emerging technologies and keeping lead pace with the global trends of central banks in assessing the impacts of such technologies on the financial sector.”

Saudi Press Agency

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