Court rules Russian Church to Pay Higher Electricity Fees for Mining
A regional court in Russia ruled that a church that apparently mines cryptocurrencies should pay higher electricity fees. Private people in Russia and some organizations like churches pay relatively low electricity fees. This led many individuals to mine cryptocurrencies in private. However, the energy consumption spiked so much that individuals that mine cryptocurrencies have to pay higher electricity fees. Apparently, the stability of the energy grid is endangered otherwise. But the burden of proof lies with the energy providers. In this case, the company Irkutskenegro sent out investigators and apparently found hardware with which mining would be possible. The church claims, however, that the amount of energy was used for heating purposes and printing religious contents. Still, the Irkutsk Arbitration Court ruled that the church has to pay higher electricity fees.
Town in Washington Bans Mining Operators from Settling Down
The city council of Ephrata in the state of Washington has decided to halt cryptocurrency mining in its community. However, the decision does not affect already established crypto mining entities in the city. According to the city’s administration, there are currently four companies that mine cryptocurrencies. Instead, the council’s ruling affects new companies and organizations that want to settle down in Ephrata to start crypto mining activities. The decision of Ephrata is emblematic for many communities in the state of Washington that have temporarily banned mining. The state of Washington has typically low electricity costs from hydropower facilities and is not very densely populated. A circumstance that has attracted many mining operators.
Monero’s Bulletproofs feature reduces fees to a few cents
Monero transaction fees that had averaged for a long time from $1 – 2 USD have significantly reduced to around $0.02 USD. This reduction is a direct consequence of the implementation of Monero’s Bulletproofs technology. We reported last week about it. The Monero developer ‘Moneromoo’ predicted this as he said that fees would reduce by 95%. The Bulletproofs feature improves not only scalability issues of Monero but it also improves Monero’s censorship resistance and privacy.
Neteller Cryptocurrency Exchange Service Launched
Neteller, a renowned digital fiat current provider, has launched a cryptocurrency exchange service that will give its clients an opportunity to exchange their fiat currency for other cryptos such as ETC, LTC, ETH, BTC, and BCH. The Neteller cryptocurrency exchange service is already available in 10 countries, and there are plans to make it available in 50 more countries.