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A weekly news summary from China, Taiwan, and Hong Kong attempts to plan the most important news in the industry, including influential projects, changes in the regulatory landscape, and enterprise blockchain integration.
Will DOGEmania stop?
Dogecoin has officially divided Bitcoin into several categories in China. Among them, the trading volume of DOGE, the leading Chinese exchange Huobi, exceeds the trading volume of leading assets ETH and BTC. According to CoinGecko, on May 6, the trading volume of DOGE accounted for more than 15% of the total trading volume, while the trading volume of BTC and ETH was about 8% respectively. On May 5, the number of searches for “Dogecoin” on WeChat exceeded the number of searches for Bitcoin with 2.3 million, while the number of searches for Bitcoin was 1.7 million. Since earlier this year, Dogecoin has become more and more attractive to the Chinese retail industry because many people have become interested in the virality and potential of the colorful DOGE community to get rich quickly.
The hacker attempt failed, but caused a major commotion
The centralized exchange Hotbit is Victims of hacker attempts on April 30th. The good news is that the assets appear to be safe on the platform. The bad news is that user data has been corrupted, leading to database corruption. When the exchange tried to resume its normal state, trading, deposits and withdrawals were all suspended. The Chinese exchange has been actively communicating via Twitter, and the interrupted service may last for a week. Hotbit is known for listing various assets, making it a more popular place for risk-averse investors.
Shenzhen-based HOO launches smart chain competitors
Hoo.com becomes another exchange Start the Ethereum virtual machine or EVM-based smart chain, Try to bridge its CeFi users to the DeFi space. The chain is currently in the testnet, with low fees, only 0.001 USD per transaction, more than 500 transactions per second, and is compatible with Ethereum, BSC and HECO. Since the beginning of this year, Hoo’s tokens have grown by more than 350%. Other Chinese exchanges, including OKEx and Gate, have also launched smart chains. Smart chains are proving to be an appealing method that allows users to maximize revenue while still allowing exchanges to derive value from the process.
VeChain on National TV
Established English and state-owned commercial channel CGTN Short explanatory video On the blockchain growth after COVID19. Videos and articles highlight VeChain’s progress in developing business solutions and explain how this technology is applied in the food safety and infection control industries. The media company shot a short video in the office and interviewed some developers, which shows that the company is doing a good job in complying with the regulatory requirements of this strictly regulated country. It is no secret that VeChain has the highest position in many government-supported organizations and maintains close relationships, which is an enviable position for any enterprise-level blockchain-as-a-service provider.
Salaries for blockchain developers rise
Beijing Municipal Human Resources and Social Security Bureau recently released 2021 Beijing Human Resources Market Salary Survey Report (Q1)”. According to the report, the median monthly salary for new and popular jobs, including technology, is mainly between US$3,000 and US$4,600. Blockchain engineers easily earn a monthly salary of US$6,700. It goes beyond this point, which shows that in contrast, the average annual salary of blockchain developers in the United States often exceeds $12,500. According to Hired.com, the recruitment company, Almost twice the opening rate in Beijing.
The miners back up and run away… are they gone?
After the power outage, mining seems to have returned to normal The fatal coal mine accident last month. The incident required strict inspections of mining facilities, forcing many ASIC miners to shut down their machines. At present, turfgrass has returned to the level close to before the incident in mid-April. However, an interesting change is that the industry seems to be gradually shifting from China to North America. Founder of F2Pool Wang Chun pointed out that in the past eight years, more than half of BTC’s hash power came from outside China. This may be related to the incident, but as China’s mining regulations become more stringent, many experts are following this trend.
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