Month: December 2018

This is the staff of the German blockchain scene

Bear market and price losses at Bitcoin & Co. set aside: The blockchain ecosystem continues to grow. That can hardly be denied. Blockchain jobs in particular are currently in demand. In our BTC-ECHO study we examined the scene: Who earns how much where? What opportunities do young start-ups have to make money and how much can they own in total? And: How are the people who work in the German blockchain scene divided up, how are blockchain start-ups staffed?

In cooperation with BlockState, BTC-ECHO evaluated the data of over 100 companies from the German Blockchain landscape. We asked for financing models, turnover generation and location of the companies. The main findings were not surprising: With 89 companies, Berlin is by far the blockchain capital, most of them dealing with financial technologies and crypto currencies. But how is the staff made up?

Bitcoin secret start-ups: air upwards

In fact, most Bitcoin secret start-ups (in contrast to sales) are comparatively small. Here is the review by onlinebetrug. More than half of all companies reported employing 0-9 people, excluding freelancers. A slightly smaller, but still relatively large proportion of the companies surveyed are in the next larger segment: a total of 30 percent of the companies surveyed employ 10-19 people. The upper end of the scale then becomes increasingly thin: only seven percent of the German blockchain scene still employs 20-29 people. Only one start-up plays a part in the top class of the interviewees and stated that it employs 90-100 people.

The lion’s share in the cryptosoft development sector

Even though ICOs in particular are often said to do a lot of cryptosoft marketing without attaching great importance to technology: https://www.forexaktuell.com/en/cryptosoft-scam/Our results speak a different language. On average, 40 percent of our staff work in the field of software development. Second and third places are close together: 22 percent go to management and 21 percent of the staff work in the area of analysis and research.

If you want to learn more about the German blockchain culture, you can do so on our official study page.

By the way: Although there are sometimes very few people working in the start-ups, the record in the funding amounts is 100 million euros. Blockchain developers in particular are in great demand here. If you have an itch in your fingers, check out our job exchange.

We are also constantly on the lookout for new employees. Here you can find the job offers of BTC-ECHO.

Intel: Green light for Bitcoin mining patent

Chip giant Intel received a patent for energy-efficient Bitcoin mining on 27 November. According to the company, this will reduce electricity costs and the size of the chips by up to 15 percent.

After Intel had already filed an application for a patent to optimize Bitcoin mining in March of this year, the company can now claim another success for itself. On November 27, the United States Patent and Trademark Office gave the chip manufacturer the go-ahead for a patent application filed in 2016. The patent details show how mining can be made more energy-efficient.

Increased efficiency by fixing cryptosoft parameters

The cryptosoft mining process is one of the pillars that gives Bitcoin its decentralised character and ensures consensus within the cryptosoft network. The miners solve a puzzle in a CPU-intensive process in which the SHA-256 hash of an input value must be smaller than a certain target value. ASICs, dedicated Bitcoin Mining hardware, are able to perform a large number of these hashing operations in parallel.

The patent-pending execution forms now divide the ASIC hashing process into several stages. This saves checking the hashes after each increase of the “nonce”. In this way, miners should be able to determine earlier whether an input value is suitable for the solution. According to Intel, this has the advantage that power consumption and chip size can be reduced by an estimated 15 percent.

The crypto trader has reason to be happy

Developments such as these are particularly welcome in times when Bitcoin’s share price is comparatively low. A low price puts great pressure on the crypto trader as they can no longer mine profitably. According to an estimate by Mao Shixing, the operator of the Chinese mining pool F2Pool, 600,000 to 800,000 miners have ceased mining since mid-November alone.

This is understandable if one considers the estimates of real mining costs from the recently published report by CoinShares Research. According to this, the costs for mining from a Bitcoin are around 6,000 euros, based on electricity costs of 5 cents per KWh and a hardware lifetime of 18 months. This means that mining is currently only profitable under very specific conditions, such as even lower electricity prices. It is therefore to be welcomed that further chip manufacturers are entering the market and that the market for mining hardware is no longer in the hands of a few players.