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Blockchain & Web3 Weekly Bytes Edition #40
Bitcoin Nears $100K | Hashrate Hits Record High | Blockchain and IoT
November 23, 2024
Hello Fellow Enthusiast,
Welcome to Edition #40 of Blockchain & Web3 Weekly Bytes! This week, Bitcoin inches closer to the $100K milestone, setting new benchmarks in price and network performance with a record-breaking hashrate.
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Tech Spotlight: The intersection of blockchain and IoT—how they’re powering smarter and more secure applications across industries.
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Weekly Highlights: Stripe expands crypto payments on Aptos, the UK announces plans for a comprehensive crypto framework, and MicroStrategy stock soars alongside Bitcoin’s latest highs.
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Affiliate Spotlight: Upskill with 101 Blockchains—your go-to resource for blockchain certifications and learning paths.
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Chart of the Week: Bitcoin’s record-setting hashrate highlights the network’s robustness, driven by sustained investment in mining infrastructure.
🧐 Weekly Trivia
Which of the following devices was the first-ever IoT-connected appliance to use blockchain for secure data sharing?
A) A smart refrigerator
B) An IoT-enabled coffee machine
C) A connected home thermostat
D) A smart contract-based electric vehicle charger
*Find the answer at the end of this newsletter.
🌟 Tech Spotlight – Blockchain Meets IoT – A Smarter Future
IoT devices are everywhere—tracking deliveries, managing energy use, or even monitoring your health. But how do we ensure the data they exchange is trustworthy and secure? This is where blockchain comes in, adding a new layer of reliability to the growing IoT ecosystem.
Real-World Examples
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Smart Logistics: DHL is leveraging blockchain and IoT sensors to track shipments. Packages report their real-time location and condition (like temperature for sensitive goods), creating a digital audit trail that can’t be tampered with.
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Connected Homes: IoT-enabled smart locks now integrate blockchain to verify user identities. Instead of trusting a centralized app, homeowners control access directly, reducing risks like hacking.
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Energy Trading: In Germany, neighborhoods with solar panels are using blockchain to automate energy sharing between homes. IoT sensors track usage and generation, while blockchain handles payments transparently and instantly.
What’s Next?
The combination of blockchain’s security and IoT’s automation is simplifying industries and daily life. Whether it’s a factory machine requesting maintenance, a city managing traffic data, or a thermostat adjusting energy use autonomously, this duo is redefining efficiency.
As adoption grows, expect smarter devices and systems that work seamlessly—making everyday processes smoother while keeping data and trust intact.
📰 This Week’s Blockchain and Web3 Highlights
Bitcoin Nears $100K as Market Cap Hits $3.4T: BTC approaches $100K while crypto ETFs see $1B inflows. Analysts predict continued growth tempered by short-term pullbacks.
AI Predicts Bitcoin Could Hit $140K: Intelligent Alpha, led by a trio of AIs, forecasts BTC at $140K. The fund’s AI-driven strategies show strong performance despite unconventional picks.
Stripe Expands Crypto Offerings on Aptos: Payments leader Stripe integrates crypto services with Aptos and Circle’s USDC, aiming to enhance global payment capabilities.
UK Plans Crypto Regulations by 2025: A comprehensive crypto framework covering stablecoins and staking is set for release in early 2025, positioning the UK for leadership in digital finance.
Charles Schwab Eyes Direct Crypto Investments: Schwab is preparing to offer direct crypto investment options once regulations are streamlined, signaling increased institutional interest.
SEC Chair Gensler to Step Down in 2025: With pro-crypto policies expected under a Trump-led administration, SEC Chair Gary Gensler announces plans to resign next year.
MicroStrategy Stock Breaks Records Alongside Bitcoin: As Bitcoin reaches new highs, MicroStrategy sees its stock surge to peak levels, reflecting investor enthusiasm for BTC-linked equities.
🔗 Affiliate Spotlight: 101 Blockchains
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Why Choose 101 Blockchains?
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Expert-Led Certifications: Comprehensive courses crafted for actionable insights.
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Ready to boost your skills? Check out 101 Blockchains here to start learning today.
😂 A Little Blockchain Humor Break 🤣
Source: Naiive
📊 Chart of the Week: Bitcoin Hashrate Reaches Record Levels
Bitcoin's network strength is hitting new heights, with its hashrate reaching an all-time high. After a temporary dip post-halving, advancements in mining equipment and upgrades have driven consistent growth since July. This milestone reinforces the robustness of Bitcoin's decentralized ecosystem.
🔍 Key Insights:
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Post-Halving Recovery: The hashrate initially declined after the halving but rebounded steadily as miners upgraded to more efficient hardware.
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Network Security: A higher hashrate means greater security and resilience against potential attacks.
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Sustained Growth: This trend underscores the continued investment and innovation in Bitcoin mining infrastructure.
Source: CryptoQuant
That’s it for Edition #40! This week, we broke down blockchain's impact on IoT, tracked Bitcoin’s climb near $100K, and examined a new all-time high for the Bitcoin hashrate. From the UK’s crypto framework announcement to Stripe’s big Web3 move, the momentum in blockchain and Web3 is undeniable.
Trivia Answer: A) A smart refrigerator—the first IoT appliance to leverage blockchain for secure data sharing, showcasing the potential of integrating decentralized tech with everyday devices.
Thank you for being part of this week's updates! If you have not subscribed, join us for weekly insights on the blockchain, Web3, and more. See you next week!
Warmly,
Ajay Tomar
Disclaimer:
Content in this newsletter is for educational and informational purposes only and is not intended as financial, tax, or legal advice. Always do your research and consult with a professional before making financial decisions. As a solopreneur, I may earn commissions from affiliate links in this newsletter at no extra cost to you. This support helps me bring you valuable content. I only endorse products I trust and believe could benefit you.
