FreeCryptoCurrency.Me

Radicle, a peer-to-peer platform for coding collaboration, announced Thursday the launch of a governance token on the heels of a $12 million fundraise.

Led by NFX and Galaxy Digital, the fundraise is the project’s third round of financing. Other investors include Placeholder, Naval Ravikant, Balaji Srinivasan, and Meltem Demirors.

Similar to code hosting platforms like GitHub or Gitlab, Radicle offers a hub for developers to tinker with open-source code. Still, the decentralized nature of Radicle could solve some of the problems associated with firms like GitHub, including potential censorship and single-point-of-failure security risks, says NFX general partner Morgan Beller.

The fresh cash injection will help the team to expand upon its core protocols and user experience as it looks to woo developers in the decentralized finance and Web3 ecosystems, according to a statement shared with The Block.

Already, Radicle has lined up more than 1,000 projects since launching its beta in December. The new governance token could serve as a mechanism to incentivize developers to contribute to its codebase. 

“The release of its native governance token, makes Radicle the first open-source, community-led, and self-sustaining network for software collaboration,” the startup said in a press statement. ” The network’s code and treasury of assets are publicly managed fully in the open allowing any developer to contribute and influence the direction of the project, making Radicle an experiment in collective governance.”

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Graphics card maker Nvidia unveiled a new processor chip dedicated to Ethereum mining on Thursday — while also moving to render one of its top-shelf GPUs less useful for the process.

Dubbed the Cryptocurrency Mining Processor or CMP, the product is specifically designed for use by miners who might otherwise use traditional GPUs to mine ETH or other cryptocurrencies that rely on similar processes.

With the move, Nvidia is wading into the long-running tension between cryptocurrency miners and gamers, both of whom actively seek out the latest-generation GPUs upon release. This state of affairs has led to intermittent shortages and, more often than not, grumbling from gamers — particularly when cryptocurrency prices are on the rise.

As reported earlier this month, ETH miners generated some $800 million in January, based on figures collected by The Block Research. That figure demonstrates the scale at which ETH mining has reached — and, by consequence, the degree to which miners have scooped up GPUs (and driving up hardware prices by consequence). As recently reported, Nvidia is bringing older models back to the market in an effort to stem recent shortages. And some miners are even deploying gaming laptops so that they can draw hashing power from their built-in GPUs, as The Block previously reported.

With CMP, Nvidia appears to be attempting to build a dedicated business line for crypto miners — and, perhaps, alleviate the concerns of its gaming clientele at the same time.

Part-and-parcel to the move, Nvidia said that starting on February 25, it will take a software approach to make its top-of-line GPU products less useful for crypto miners.

“RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50 percent,” Nvidia said in the blog post, adding:

“Creating tailored products for customers with specific needs delivers the best value for customers. With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers.”

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Billionaire Jeffrey Gundlach, the founder of investment firm DoubleLine Capital and a long-time gold bull, now considers bitcoin a better asset.

“Bitcoin maybe The Stimulus Asset. Doesn’t look like gold is,” Gundlach tweeted Thursday. The investor had been a long-term dollar bear and gold bull but has now turned neutral on both for over six months, he said.

Last month, Gundlach said bitcoin has been in “bubble territory” ever since it broke $20,000. “It’s volatile as all get-out. I don’t like bitcoin here. I don’t like things that are up on a stilt like that,” Gundlach said at the time. “I’m not really a contrarian, but there are times when people seem to be so much on one side of the boat that I don’t believe the boat can sail that well.”

Gundlach’s latest comments make a stronger investment case for bitcoin over gold. Gold exchange-traded funds have seen outflows in recent months while investments continue to pour into the cryptocurrency.

Bitcoin has garnered interest from billionaires Elon Musk, Paul Tudor Jones, Alan Howard, and others. The price of the cryptocurrency has quadrupled over the past year and surged through $52,000 this week. Bitcoin is currently trading at around $51,400.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.