Working Group to Develop Efficiency Standard for Crypto Mini | Crypto Sale
Working Group to Develop Efficiency Standard for Crypto Mining in Russia
Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime.
Russia Prepares to Improve Efficiency of Mining Facilities in 2023
A group of crypto specialists have teamed up to elaborate a standard that should improve the overall efficiency of mining and in particular the use of energy to mint digital currencies. The set of rules and procedures will be designed to increase the time the expensive data processing equipment operates under optimal load which should result in higher profitability.
The standard, which is expected to be released for adoption in February next year, will be prepared by members of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), the cryptocurrency sector, and other associated industries, the Russian crypto news outlet.
The decision to establish the working group was announced at a crypto summit held in Moscow, during a presentation on the topic made by representatives of Racib, mining data center operator Vekus Mining Development and Yuri Kudryashov, director of Russia’s Research Institute for Sustainable Development in Construction.
The main purpose of the forum was to talk about the development of the digital environment and digital financial assets in general. Participants discussed the pending legalization of mining in Russia and other activities related to blockchain and cryptocurrencies, the introduction of central bank digital currencies, and the spread of tokenization. The summit also focused on education and security issues.
