Coindesk reported that this system from Qihoo 360 can provide information about the IP address, location, network type and frequency of connections of crypto miners, as well as suggest ways to block them. Qihoo 360 claims to have discovered approximately 1,09,000 mining IP addresses that were active per day in November. Most of these were in Guangdong, Jiangsu, Zhejiang and Shandang provinces. The company explained that crypto miners primarily use broadband, enterprise Internet connections and data centers.
Cryptocurrency mining consumes a lot of electricity. It consumes electricity for both the specialized computer equipment used to solve currency-producing mathematical equations and the energy used to cool the machines. China plans to reduce carbon emissions. For this purpose, a few months ago, crypto mining and trading were strictly enforced.
China’s economic planning agency, the National Development and Reform Commission (NDRC), reported on the methods used to end cryptocurrency mining. It had said that industrial level mining and the contribution of government firms in this would also be banned. Authorities will specifically emphasize the elimination of bitcoin mining. Apart from this, those paying on residential electricity tariff for crypto mining will be charged a higher tariff as a punishment.
There is also a demand to tighten crypto mining in countries like America. In Texas, people protested against crypto mining after the supply of electricity was interrupted a few months ago due to crypto mining. Concerns were also raised about the damage to the environment due to this.<!–
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