Mon, February 06, 2023

Crypto-Related Patent, Microsoft and Crypto Mining

Cryptocurrencies and new opportunities

Crypto mining is a lucrative business and it is not surprising that companies are willing to start crypto mining. However, U.S. tech giant Microsoft proposed quite an interesting system regarding the process of mining.

Several days ago, Microsoft applied with the World Intellectual Property Organization. Let’s have a look at this application.

Tech giant proposed a system to mine cryptocurrencies thanks to data collected from the humans.

According to Microsoft, sensors could detect activities associated with specific tasks. For example, time spent viewing add and to convert this activity into computer-readable data. As a result, it will be possible to solve computational problems.

Interestingly, the system could use physical exertion to mine cryptocurrencies. Moreover, the tech giant stated that it is possible to use this system to incentivize users to perform certain tasks.

However, it is unclear whether the tech giant will create this system. Nevertheless, such projects provided useful information about the crypto industry.

Bitget and crypto marketCrypto derivatives platform and U.S. market

A crypto derivatives platform Bitget, registered with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Bitget registered as a money service business.

Established in 2018, this crypto derivatives platform from Singapore, provides crypto trading services, for retail and institutional investors.

According to the spokesperson of Bitget, average trading volume per day is around $1 billion.
The main market for Bitget is Asia. Moreover, nearly two-thirds of its clients are from China. Moreover, Bitget operates offices in South Korea and Japan.

Bitget made a big step forward as it can operate as a legitimate exchange, anywhere in the U.S. Nevertheless, it should obtain state-level licensing to conduct most operations.

The Crypto industry is evolving and tech companies such as Microsoft and others have the potential to support this industry. Moreover, not only Microsoft but Google, Amazon and major tech companies, in general, should make life easier for crypto owners.

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