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UNICEF aims to aid Syrian children with the help of Ethereum mining




Ethereum Mining UNICEF
Source: Pixabay

The Civil War in Syria from 2012 to 2017 left the world stunned and left Syria with more than just homeless Syrians. More than 652 children died in 2016 alone and currently there are 5.1 million children who are in a dire need of help. UNICEF is trying to raise funds from Ethereum mining and utilizing the funds for this cause.

Sources working with UNICEF told AMBCrypto’s reporters that the Syrian crisis alone is a huge red flag on humanity’s ability to empathize. The sources also confirmed that there has been a significant rise in financial and technical support from the blockchain community.

UNICEF is recruiting gamers with an agenda of repurposing their gaming hardware to be used for mining.

WFP’s director of innovation, Robert Opp says,

“We feel this is a starting point,there are a number of potential uses of blockchain that could dramatically change the way we reach people in terms of our efficiency, effectiveness and security.”

Samantha Power, an American author says,

“Half of Syria’s refugees are children, and we know what can happen to children who grow to adulthood without hope or opportunity in refugee camps. The camps become fertile recruiting grounds for violent extremists.”

Ryan Boulinger, a blockchain developer, and evangelist says,

“This is what blockchain can do. Even though people have always thought of it as a money-making scheme only but the applications of blockchain are limitless. Yes, here in this particular case UNICEF wants to make money out of Ethereum mining but the important thing to note is that it wouldn’t exist without the blockchain technology”

With a valuation of some $88 billion, Ethereum launched in 2015 and the same market value to Starbucks, according to Forbes. Ethereum mining works similar to Bitcoin or other forms of cryptocurrency mining where people get paid for maintaining or verifying the cryptocurrency transaction. Mining generally includes:

  1. Creating a ledger and secure the transactions which work round the clock 24/7 X 365 days to verify transactions. 
  2. The miner or miners generally get paid in the same token that they are mining for their effort in verification.

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Andrea Pierre Jackson is a contributing News writer at AMBCrypto from December 2017. She has previous writing experience with major publishing houses in the UK and the US. Andrea currently does not hold any position in any cryptocurrency or its projects

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Bitcoin Dominance Index [BDI] falls short of Bletchley Ethereum Token Index [BETI] in 2019

Biraajmaan Tamuly



Bitcoin Dominance Index [BDI] outperformed by Index based on the Ethereum blockchain in 2019
Source: Pixabay

One of the key factors which is often used to represent or indicate the potential of a particular cryptocurrency’s growth is its market capitalization. When the market capitalization of a coin or token showcases a positive hike, it usually has a positive impact on that particular asset’s market.

According to LongHash, the Bitcoin Dominance Index [BDI], which is used to measure Bitcoin’s market cap had been the dominant index since the beginning of 2019. It was observed that the BDI improved from 53 percent to 58 percent over the past few weeks after the largest crypto-asset underwent multiple price hikes.

XRP, which dominated Bitcoin by 1,600% back in 2017 on cryptocurrency exchange Bittrex in 2017, was currently down by almost 50% against Bitcoin in 2019. Ethereum [ETH] fared better comparatively, but was still down by 14% against the Bitcoin.

However, the Bletchley Ethereum Token, a token built on top of Ethereum, seemed to have outperformed Bitcoin this year.

The Bletchley Ethereum Token Index [BETI] can be utilized by investors for their allocation to tokens placed on top of the Ethereum blockchain. However, it should be noted that Ethereum is not a part of the index as it is an independent entity. The BETI is a weighted index, which means that the tokens with dominant market caps will take up a larger part of the index and the re-balance will take place at the end of a particular month.

For example, Tron [TRX] and Binance Coin [BNB] currently take up more than half of the BETI’s Weighted Index. Since the launch of their DEX, BNB has enjoyed a lucrative year with multiple hikes bringing the coin to $30 from under $6. Tron also witnessed major growth in market cap as it was up by 40% in comparison to the US dollar.

However, it is important to note that the major tokens on the BETI’s weighted index have all launched their own blockchain, at press time. Hence, it can indicate that the dominance enjoyed by BETI over the BDI over the last few months could point to a situation where the Ethereum blockchain was preferred for the launch of various tokens.

Despite the aforementioned reason, it is safe to state that Bitcoin was not the only entity which dominated the crypto-space this year.

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