A summary of some of the popular stories on cryptocurrency and blockchain during the past 24 hours.
Bitcoin Drops Below $5000
Bitcoin, the largest cryptocurrency, touched a new low in more than a year on Tuesday, reaching around $4,500. Other major cryptocurrencies, including ethereum and XRP, were also continuing their downfall, which started last week. Technical levels, stop orders, and uncertainty surrounding bitcoin's cash's hard fork also added to the fall.
Washington's Chelan County PUD Plans Higher Electricity Costs For Crypto Mining
The Chelan County PUD in north-central Washington has proposed a new electricity pricing structure, Schedule 36, for the mining activity, which generally takes enormous power. Lindsey Mohns, the Customer Utilities Rate Adviser, explained that the proposed new structure is built same as the existing crypto mining rate structure, but it brings a market consideration on the energy price as the power will have to be purchased in the market to serve the variable load associated with cryptocurrency.
ConsenSys' Kaleido partners AWS to launch blockchain marketplace for businesses
Kaleido, the blockchain platform of the New York-based ConsenSys, teamed up with Amazon Web Services (AWS) to launch a full-stack enterprise platform with a marketplace on its Blockchain Business Cloud. The launch of marketplace is expected to further enhance the capabilities of businesses without the need of specialized blockchain expertise. According to market research firm Gartner, the business value-add of blockchain technology is expected to exceed $3.1 trillion by 2030.
IBM Partners Columbia University To Help Startups Setup Blockchain Networks
Technology giant IBM teamed up with Columbia University to help startup companies in setting up the next generation of blockchain networks through two accelerator programs. The duo established a new center called "Columbia-IBM Center for Blockchain and Data Transparency" in July devoted to research, education, and innovation in blockchain technology and data transparency.
Current Prices
As of this writing, Bitcoin is down 11.91 percent or $608.81 at $4527.23. Ethereum is also trading lower by 13.08 percent or $20.14 at $133.61.
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