Argentina Bank Beijing Bitcoin Blockchain Boycott China Chinese crypto Currency education Fintech Guangdong Guangzhou Inner Mongolia Mongolia Technology United States University Xi Jinping
Home » Blockchain News - China bitcoin mining hub to shut down cryptocurrency projects Blockchain News - China bitcoin mining hub to shut down cryptocurrency projects A visual representation of the cryptocurrency bitcoin. S3studio | Getty Images GUANGZHOU, China — China's Inner Mongolia region plans to ban new cryptocurrency mining projects and shut down existing activity in a bid to cut down on energy-consumption. Bitcoin is based on a decentralized network, which means it's not issued by a single entity like a central bank. Transactions, recorded on a public ledger called the blockchain, need to be "verified" by miners. These…
News Timeline:
Track the development of this news story across the Internet.