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On May 6th, it was learned from the Guangzhou Municipal Housing and Urban-Rural Development Bureau that the Guangzhou real estate market saw a significant rebound in activity during the May Day holiday, with both the primary and secondary housing markets showing positive performance, indicating a clear recovery trend. Data shows that from May 1st to 5th, the Guangzhou primary housing market experienced a significant increase in activity, with an average daily visitor count of 8,692 groups, a year-on-year increase of 30.8%, and an average daily purchase volume of 634 units, a year-on-year increase of 50.1%. The secondary housing market maintained steady growth. The average daily number of viewings and purchases during the holiday increased by 15.6% and 5.2% respectively compared to April, with purchases increasing by 63.4% year-on-year, while the number of newly listed secondary homes declined. An official from the Guangzhou Municipal Housing and Urban-Rural Development Bureau stated that on April 30th, Guangzhou released implementation opinions on further promoting the stable and healthy development of the real estate market, proposing multiple measures from aspects such as optimizing the use of housing provident funds and streamlining the replacement chain. The policy benefits have been quickly transmitted, and the market response has been significant.JPMorgan Chase raised its price target for AMD (AMD.O) from $270 to $385.On May 6th, the Ministry of Industry and Information Technology (MIIT) publicly solicited opinions on the "Implementation Plan for Leading the Quality Revolution of Light Industrial Products through Standards Improvement (Draft for Comment)." The draft states that by 2027, the standardization mechanism for light industry will be more complete, with approximately 200 product and method standards to be formulated or revised. Evaluation and review of the implementation of approximately 100 standards will be conducted to improve the adaptability of standards to new products, technologies, and models. Approximately 30 light industry standards will be translated into foreign languages, and the proportion of international standards led by China will increase to approximately 8%, significantly enhancing the international influence of standards. By 2030, a globally leading light industry standard system will be basically established, with more effective standard supply, comprehensively leading the "China Light Industry" brand to a more stable and faster global expansion.French manufacturing output rose 1.6% year-on-year in March, up from 0.80% in the previous month.French manufacturing output rose 1.2% month-on-month in March, compared with 0.00% in the previous month.

Ethereum blockchain slashes energy use with ‘Merge’ software upgrade

Skylar Shaw

Sep 16, 2022 14:35

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The Ethereum blockchain has undergone a significant software update aimed at dramatically lowering its energy consumption, co-founder and creator Vitalik Buterin tweeted on Thursday. The "Merge" update will alter how transactions on the Ethereum blockchain work.


The co-founder and creator of Ethereum tweeted on Thursday that the blockchain has undergone a significant software update that significantly reduced its energy consumption.


The Ethereum Foundation estimates that the new system will consume 99.95% less energy than the old one. The update, which modifies how ether tokens are produced and transactions are processed, might offer Ethereum a significant edge over competitor blockchain bitcoin.


Richard Usher, head of over-the-counter trading at London-based cryptocurrency company BCB Group, stated, "We feel this is a key event that will lead to ETH outperforming the larger crypto market for some time."


The majority of blockchains use a lot of energy and have drawn criticism from investors and environmentalists. According to researcher Digiconomist, before the software update known as the Merge, a single Ethereum transaction used as much energy as the typical American family consumes in a week.


A "proof of stake" system, in which individuals and organizations act as validators and use their ether as collateral to win newly created tokens, has replaced Ethereum's previous "proof of work" system, which required energy-guzzling computers to validate transactions by solving difficult math problems.


Vitalik Buterin, an inventor, wished everyone a "happy merging" in a tweet. "The Ethereum ecosystem is at a pivotal point at this time."


In 2013, Ethereum was created. Many aspects of the much-hyped but as-yet-unrealized "Web3" vision of the internet, where crypto technology dominates apps and commerce, are said to be supported by it.


It drives blockchain-based covenants known as "smart contracts," which are thought to have applications in conventional banking and other sectors, as well as platforms for cryptocurrency offshoots like decentralized finance and non-fungible tokens.


Ether, a cryptocurrency, dropped as much as 4% to $1,571, which experts attributed to a generalized reluctance to invest in risky assets.


Investors predicted that the update will increase the value of the ether token before Merge. Since its June lows, Ether has increased by nearly 85%, outpacing bitcoin's 15% growth. However, as a whole, cryptocurrencies have struggled this year, with ether and bitcoin both falling by over 55%.


Before the Merge, Ether surpassed Bitcoin in market share, and it currently makes up roughly 5% of the $1 trillion cryptocurrency market. The percentage of bitcoin has decreased from this year's high of 47.5% in mid-June to 39.1% now.


The Ethereum network has a number of problems, including high fees and sluggish transaction times in addition to energy usage. Merge won't solve these issues right away, but some experts believe it will pave the way for Ethereum's growth.


Marc Arjoon, an ethereum research analyst at digital asset management CoinShares, stated that the improvement of Ethereum's environmental, social, and corporate governance (ESG) credentials "would be helpful for regulatory-driven organizations who wish to start to investigate the Ethereum ecosystem."