Episode Details

08th Oct: Blockchain DXB Podcast
🔻 Bitcoin Miners Profit - Record Low 🔥Ethereum EIP-7781 🟣Revolut blocked up to $13.5m Fraud Trx 🚨Bitget BGB flash crash
⛏️ Bitcoin miner profitability hit a recent low in September 2024, with daily block reward profits down 6% month-over-month, according to J.P. Morgan. This marks the third straight month of declining revenue, despite a moderate rise in Bitcoin prices. The drop is linked to April's Bitcoin halving, which cut miner rewards by 50%, potentially causing a $10 billion annual revenue loss. While the mining industry has grown significantly, competition and reduced rewards are making it harder for miners to stay profitable.
🟣 NFTevening has an interesting report on how much it costs to mine 1BTC and Top 10 Least Profitable Countries for Bitcoin Mining https://shorturl.at/8XsTj
🟢Ethereum EIP-7781 Reduce Ethereum's slot time from 12 seconds to 8 seconds. The proposal by Ben Adams will aim for the following
1) reduce based rollup latency
2) increase transaction throughput by approximately 33% without increasing individual block or blob counts
3) distributing bandwidth usage over time to lower peak bandwidth requirements and maintain network efficiency.
Info via GitHub here https://lnkd.in/d-_6w57B
❗ What is the benefit?
- Ethereum Foundation researcher Justin Drake noted on Github that reducing block times to eight seconds would make decentralized exchange (DEX) platforms like Uniswap 1.22 times more efficient. The change could help close pricing gaps between on-chain and off-chain trading venues, saving users up to $100 million per year, according to Drake.
👀 Revolut’s crypto anti-fraud tool
Revolut blocked $13.5 million in potential crypto fraud from June to September 2024, despite facing rising fraud complaints. The company claims it saved customers over $590 million in 2023 through real-time monitoring, two-factor authentication, and 24/7 support. Revolut also criticized Meta, saying 62% of scams reported in 2024 came from its platforms, while facing backlash for rejecting some fraud refunds.
🚨 Bitget's BGB experienced unexpected volatility today due to market conditions,. But the team has ensured Bitget will fully compensate for any asset losses and will provide a compensation plan within 24 hours, completing the compensation process within 72 hours. Info here https://shorturl.at/QiXCu While this news sounds great it also clearly implies the Exchange token has a centralized team making the decision
🟠Two UAE news
⚡United Arab Emirates Exempts Crypto Transactions From Value-Added Tax
⚡ UAE: 80% of recruiters believe GCC jobs will be affected by AI
For slides click here: https://shorturl.at/F0l2w

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