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Ethereum

From ideas to mechanisms to the new finance

Published

3 Monaten ago

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With its year-to-date growth of more than 15x in total value locked, and more than $11 billion committed to the protocols, decentralized finance (DeFi) has become a mainstay in the crypto industry, and a whole new industry in itself. Meanwhile, its shape as a concrete market has not been defined with substantial confidence.

A major shortcoming of DeFi research to date has been its focus on individual projects or simple metrics, such as financials. A systematic overview capturing the essence of the industry and professionally describing it in depth is missing. To address that, Cointelegraph Consulting and Byzantine Solutions have conducted fundamental research on decentralized finance, from the ground-up to complex effects and existential risks.

Redefine 2020: A Primer. Where Decentralization Meets Finance is a landmark study that aims to significantly raise the bar for future research on DeFi. It sets a precedent for a market-wide examination, from the core properties to complex inter-protocol effects and emergent dynamics.

The paper draws a complete map of the industry through common conceptual patterns, recurring ideas, typical problems inherent to the decentralized setting, and the approaches to address them. The high point of Redefine 2020 is the side-by-side comparison of traditional finance and its hindrances versus the natural properties that decentralized finance can leverage to build a better, more resilient system with much greater accessibility and lower friction.

Redefine 2020 is written by economists and industry professionals, it uses professional terminology and assumes the readers are familiar with the concepts of blockchains and smart contracts, as well as financial instruments and their applications.

Download the full report here, complete with charts and infographics.

Cointelegraph Consulting offers bespoke research on digital assets and distributed ledger technology. Our services range from educational seminars, in-depth written reports and consulting on enterprise blockchain implementation strategies. Byzantine Solutions is a fintech innovation lab specialized in distributed ledger technology and blockchains, decentralized finance, cryptographic applications, tokenomics research, and mechanism design. The company offers R&D services, product ideation and architecture design, technical due diligence, and tokenomics development.



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Ethereum

Crypto enthusiasts could make $122K per year mining Ethereum with this setup

Published

1 Stunde ago

on

Dezember 29, 2020

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Simon Byrne has taken at-home crypto mining to a whole new level as he looks to capitalize on Ethereum’s (ETH) enormous price potential. 

As first reported by Anthony Garreffa, Byrne has set up an ETH mining rig consisting of 78 GeForce RTX 3080 graphics cards. Although the RTX 3080 is marketed toward high-end PC gamers, crypto miners are using these powerful specs to enhance their capabilities.

With each card using roughly 300W of power, Byrne’s setup uses 23.4KW of energy. And that doesn’t even factor in associated costs like AC. All said, his electricity bill is estimated to run up to around $2,166 per month.

The RTX 3080 launched in September at a price of $699, but supply shortages have caused the per-unit cost to swell to $1,199. At the shortage price, that’s a price tag of $93,522 for Byrne’s setup.

Still, these costs could be offset by the operation’s mining capability. One GeForce RTX 3080 graphic card has a hash rate of around 83MH/s using Ethash, which should generate roughly 0.22236870 ETH per month, according to Garreffa. All 78 cards would therefore generate 17.3 ETH per month, which is equivalent to around $12,352 at today’s prices.

Stripping away the electricity costs, that’s roughly $10,200 per month or $122,000 per year. And that’s not factoring in Ethereum’s price potential during the next bull market.

Ether’s price zipped past $700 over the weekend, the first such move since mid-2018. The return of altseason, as some have predicted, could send ETH’s price even higher over the medium term as investors cycle from Bitcoin to other large-cap cryptocurrencies.