News
24 March 2020

Ethereum miner redirects processing power toward helping coronavirus research

CoreWeave, a U.S.-based Ethereum miner, has redirected its GPU mining resources toward a Stanford University research project studying COVID-19, according to a recent article by CoinDesk. The project, called Folding@home, uses donated computing power (similar to how miners dedicate resources to a public blockchain network) to study viral proteins like the coronavirus and potentially “design therapeutics to stop them.” CoreWeave is reportedly passing up on earning 28 ETH (~$3,800 at current prices) per day to support the research effort.

Why it matters: - Finding a long-term solution to a viral infection depends on the upfront research approach and available resources. In Folding@home’s system, increasing the computational power dedicated to the network has the potential to accelerate the data collection process, which could impact the timeframe for arriving at a viable therapeutic. But one should note this timeframe could still be lengthy and may not produce a result in the short-term. - Even though CoreWeave claims to be the largest Ethereum miner in the U.S., the firm’s shift in priorities did not appear to have an impact on Ethereum’s hash rate, which is still up 19% YTD.

[[ embed url=https://youtu.be/NgkKRvlkPl4 ]] Apple Podcast - Spotify While BitGo may not be as much of a household name as Coinbase and Binance, they’re easily one of the industry’s most important institutional custodians. BitGo supports custody for over 200 assets and In 2019 alone, accounted for ...
A federal judge has rejected Telegram’s request to carry out the distribution of GRAMs to non-US investors, stating the company failed to explain how it could effectively fence off US investors or “lawfully modify” the sales agreements. The decision comes less than a week after the same judge ordere...
Coinbase has invested 1 million USDC into the ETH/USDC Uniswap pool and 100,000 into PoolTogether as part of its effort to provide more liquidity in DeFi. Coinbase is a part of the Centre Consortium along with Circle that launched USDC in 2018. Last fall, they announced the creation of a Bootstrap F...

3 coins to keep an eye on 👀