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On July 10th, the National Health Commission issued the "Notice on Strengthening the Management of Continuous Medication Use for Residents." The Notice provides policy support for establishing a scientific and standardized mechanism for managing continuous medication use for residents, forming a fair, accessible, systematic, continuous, high-quality, and efficient medication service system. It makes specific provisions in three main aspects: First, establishing and improving a multi-level management mechanism. Based on the actual situation of information technology construction at the provincial, municipal, county, and closely integrated medical consortium levels, the functions of continuous medication use management for residents within the region will be expanded. Second, promoting the co-construction and sharing of medication information, mainly including prioritizing the use of national standards for data collection, recording complete medication information for residents, standardizing individualized medication management for patients, establishing and improving regional medication monitoring and analysis mechanisms, assisting in improving clinical pharmacy service capabilities, strengthening the supply of convenient and beneficial services for residents, and establishing a clinical medication feedback mechanism. Third, standardizing the entire process management of continuous medication use for residents, mainly clarifying the management responsibilities of health administrative departments at all levels and the leading hospitals of closely integrated medical consortia.The National Bank of Kazakhstan reported that Kazakhstans net gold and foreign exchange reserves in June totaled $60.161 billion (a 7.8% decrease month-on-month).On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes to conduct research and development on cutting-edge low-carbon, zero-carbon, and negative-carbon technologies. Focusing on key areas such as the clean and efficient utilization of fossil fuels and the large-scale utilization of renewable energy, the plan calls for increased efforts in forward-looking and strategic research on major cutting-edge technologies, accelerating breakthroughs in key technologies such as supercritical carbon dioxide power generation and CCUS, tackling key technologies for flexible and efficient wind and solar hydrogen production and large-scale safe hydrogen storage, and achieving breakthroughs in core technologies such as green hydrogen synthesis catalysis, low-carbon synthesis processes, and long-distance storage and transportation.JPMorgan Chase lowered its price target for Chevron (CVX.N) from $224 to $190.On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes optimizing the industrial structure of oil refining and coal-to-oil gas. The oil refining industry will adhere to capacity reduction and replacement, and newly built refineries must meet benchmark energy efficiency standards. It will strengthen coal-to-oil gas production capacity and technology reserves, improve conversion efficiency, and promote energy consumption and carbon emissions per unit of product to reach or exceed industry-leading values. It will accelerate the upgrading and transformation of the oil refining and coal-to-oil gas industries. It will orderly promote the replacement of steam turbine drives with electric drive systems. It will promote the deep integration of coal-to-oil gas, oil refining, and new energy industries, encourage related projects to carry out large-scale replacement of green electricity and green hydrogen, and gradually reduce the use of fossil fuels for hydrogen production. It will promote the large-scale application of CCUS (Coal-to-Gas and Gas).

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."

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