12Ships Monthly Report-October 2020

[ Press Time: Nov 4th, 2020 ]

Market Overview

*The content above is formed from some opinions of the popular media and analysts in South Korea and China.

Industry News

Shanghai International Blockchain Week

Juan Benet, the founder of Filecoin, delivered a keynote speech at the summit. He said that the demand for data storage will increase three times in the future. Filecoin mining is booming. Compared with traditional distributed storage networks, Filecoin is more widely distributed. Currently, more than 90 organizations participate in the development of Filecoin, and it also benefits from the IPFS ecosystem.

According to filfox.info on Oct 31, the whole Filecoin network's effective computing power is 708.25 PiB. The number of active miners is 631. The output in 24H is 156,945 FIL, and the pledge amount is 14,209,679 FIL.

2) Due to the end of the rainy season in Southwest China in October, and the electricity fees officially entered into the normal season level. The hydropower mine farms have begun to migrate to thermal or wind power areas in the northern region, and the decline in hash rate is a short-term phenomenon. As of Nov 2nd, the latest 7 days average Hashrate of the whole Bitcoin network has dropped to 107.49EH/s. Affected by this, the difficulty of the network is estimated to decrease next time.

Project Update

-Tech & Cooperation

2)From Oct.1.2020 to Oct.31.2020, Hansando Pool mined 505,600 XVG, 8,500,000 RVC, and some other cryptos valued at $19,412. The total mining profit of Hansando Pool in October is valued at $23,124.56, from which an electric bill was charged for $15,474.62, and daily operation & development expenses were around $4,000. As a result, the net profit of Hansando in October is $3,649.94 and it was exchanged into 9.53 ETH. All these ETH will be used to buy back and burn TSHP. The details and burn Txid will be disclosed soon.

(Note: Due to the end of the rainy season, the power station cut out the power for maintenance repair; The electric bill is much higher than before; Some of the Altcoin miners are unavailable to mine coins because the algorithms changed; The Altcoins’ prices dropped.)

3)12Ships team participated in the Filecoin Open Day on October 26th and connected with the Filecoin Official team. 12Ships is also discussing cooperation with other Filecoin mining companies to strengthen and upgrade the software solution.

-Marketing & Operation

2) Community Members

  • Twitter Followers: 3083
  • Fans in Telegram group: 1776
  • Fans in Kakao Talk: 579

About 12Ships

For more information, find us in the communities!

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