Archive for the ‘Decentralization’ Category

Understanding Data Collection And Management In Decentralized … – Clinical Leader

By Rashida Rampurawala, Manager - Clinical Data Management, GSK

Over the years, the pharmaceutical industry has evolved from collecting data on paper to using electronic methods. The COVID-19 pandemic, which frequently prevented patients from attending site visits, impacted recruitment, enrollment, and retention rates across global clinical trials. In some cases, clinical trials were temporarily suspended or postponed, however it was clear during this period of time active clinical trials were managed differently by the research teams across the industry. As a result, the interest in and need for decentralized clinical trials (DCTs) grew, as did the need for decentralization-supporting capabilities.

Yet even before the pandemic, biopharmaceutical companies, CROs, and manufacturers of medical devices were already on the path towardrethinking the clinical development paradigm. They began executing experimental projects to instream data collection digitally, often using telemedicine to replace in-person site visits. Looking back, we note that these before-, during-, and after-COVID measures increased industry learning, decreased concerns about potential risks, and increased confidence in alternative clinical trial methods.

In particular, these pioneering efforts have impacted how we view decentralization, distant data collection, and data capturing. However, it would be challenging to adopt a one-size-fits-all decentralization paradigm to any clinical trial design due to protocol complexity and individuality and its key objectives. As a result, it is important to specify the risks up front and determine how decentralization is appropriate for each protocol. From a data collection and management standpoint, there is plenty to consider in terms of data flow management through multiple sources and systems.

The collection, management, and interpretation of data from new sources and in new forms is one of the greatest challenges DCTs pose for clinical teams. While wearablesensors can gather a ton of relevant real-time patient data, the question arises of how to efficiently manage and decipher key data relevant to the clinical trial objectives. Equally important is the capacity to combine all of that data into a coherent whole that all parties can use to access key trial-related choices. Companies are reassessing the tools they use to administer trials and are looking for options to integrate the data as well as manage services. To enable businesses to view all the information in one location, the technology must make handling all the downstream data simpler and faster. However, gathering all relevant and clean data under one umbrella comes with a fleet of challenges and requires spill-proof planning.

Decentralized trials have produced a large volume of data in an array of data types, so ensuring the dependability and quality of that data is the topmost concern. This concern necessitates adaptable and integrated clinical trial systems that can manage data in various ways for different needs. For instance, the raw data stream from a patient-worn device probably contains a lot more data than is necessary to assess the device's effectiveness and safety. The required data from that stream should be easy to retrieve from the clinical trial system in a way that is useful and ensures it will also comply with regulatory regulations. The unwanted data that is likely to be present in the raw data must also be dealt with, so precise extraction as required by the study team is crucial. Another concern with data integrity includes inconsistencies, device errors, and missing data collected when a patient removes, loses, or even changes the device.

When unstructured data is collected via wearables or other devices within a DCT, it is collected much faster than manual data entry within the EDC but its data cleaning takes longer. Having said that, there are clintech companies diligently working towardtechnology advancements in data analytics and integration to be used to screen and only evaluate relevant data using a risk-based approach. As it stands, industry is in the process of convincing the authorities that the data provides an entirely accurate representation of every patient's experience and makes timely data-driven judgements upon examining the data. For instance, when a patient's heart rate unexpectedly increases, investigators would need to manually figure out why a sensor reading lies outside of the normal range; there is currently no quick technique to resolve these types of issues.

The challenge will be to create new algorithms or update existing algorithms that can facilitate the instream of required data and filter out unwanted or broken data. To go a level deeper, another algorithm might compartmentalize the required data separate from the supporting or nice to know data, as this gives the clinical teams the opportunity to gain additional insights for current and future research.

As the industry is evolving with new integration systems and tools, we need to introduce and integrate platforms that can handle and compartmentalize the high volume, dimensional data. The increased use of third-party data sources and the mercurial nature of some clinical data adds another level of complexity. In brick-and-mortar clinical trials, the principal investigator, or a delegate, enters the data, and it is stored in the EDC. However, with DCTs, the data storage is split among the EDC, third-party applications, and other sources and are independently managed and reconciled with the EDC as part of data validation process across the industry. Increasingly, key efficacy and safety data are coming from outside the eCRF, which further increases pressure on data integration strategies.

Integrating systems comes with its own line of processes and documentation, including the testing and system validation needed prior to integration (E2E process management). And all integrations will vary, depending on how the decentralized trial is set up, for example, an integration from the ECG machines to the EDC or wearables data into the EDC, etc.Server issues, system upgrades, data migration, updates to the data point, and when data is to be collected based on protocol amendments are some very significant aspects that require deep thinking, pre-planning, risk identification, and mitigation. When setting up a system to manage patient data from remote visits, the clinical site may nothave a querying interface, which leads the project team to be dependent on issue logs and to clarify data inconsistencies, requests for reentering data, and making additional data transfers, etc. As this example shows, sponsors need an infrastructure that can compile data effectively and flexibly. When trials are entirely digital and paperless, sites must embrace eSource, which poses an additional problem. While an EDC has traditionally supplied the basis for clinical trial data and served as a standard by which other sources may be measured, data under these circumstances are different.

Another bottleneck in applying decentralization in terms of data collection is highly dependent on the therapeutic area and the type of patient pool. For vulnerable patient pools like pediatrics and geriatrics, introducing technology for patient use will not produce desirable results in terms of data collection. For example, asking children to interact with wearables or portable devices like tablets is not preferrable and is often not feasible. Similarly, in rare diseases, the results of each patient could have an impact on how the other results are perceived; pharmaceutical companies ought to be allowed to alter the treatment plan right away if the diagnostic results of one patient force a change. They become responsible for failing to stop potentially dangerous treatments if there is a delay before the data can be collected, cleaned and reviewed. If decentralized trials and not just data collection are to operate in real time, end-to-end data flows must be established. It will be necessary for flexible trials, clinical trial agility, and ensuring the veracity of data, among other things.

Despite working toward stabilizing the approach to standardization and compliance, the pharmaceutical industry still encounters challenges arising from diversity and complexity in general. Standardization is crucial when there are multiple external data types coming from different vendors, and they are being reported/integrated in different ways. With the conventional clinical trials data management system, there are still challenges when it comes to data mapping and standardization. When a data manager is designing/building EDC, the team needs to understand the outflow and reporting of the data that needs to meet data standards. For example, we have seen multiple data mapping and data definition issues arising during the Study Data Tabulation Model (SDTM) mapping, which essentially provides a standard for organizing and formatting data to streamline processes in collection, management, analysis and reporting especially when managing external data.

With all the excitement over what technology could accomplish with data collection and management, it is simple to overlook the threats technology may pose. The data that pharmaceutical companies or sites collect, clean, and analyze must be protected at every stage of the journey, particularly in a DCT environment. During on-site visits, personnel rely on a tight web security strategy, inclusive of a firewall with personal logins to ensure data security. However, in DCTs, there are multiple limitations for sites or pharmaceutical companies to establish such protection. There is also a risk of collection trial participants personal data, which is nowrestricted as per the data protection act and patient privacy guidelines in most of the European countries. The journey of patient data from its original source to the trial database encompasses multiple integration points. Patients may employ unsecured Wi-Fi;input or report data via mobile phones, tablets, and laptops that are not password protected;and collect trial data via external vendor applications on personal devices like smart watches. Without data security procedures, pharmaceutical companies run the danger of being fined for breaching data protection laws, losing data, and compromising the integrity of study data. Hence a complete system validation, providing secure Wi-Fi connections andensuring the devises used for DCT are 2 tier password protected, and foolproof firewall setups at the site systems are some of the measures to be taken andmonitored on regular basis.

In May 2023, the FDA released draft guidance Decentralized Clinical Trials for Drugs, Biological Products, and Devices Draft Guidance for Industry, Investigators, and Other Stakeholders giving primary attention to endpoint management and safeguarding and the preservation of clinical records and data. Pioneers in the industry who plan to integrate DCTs into their ongoing research process must join discussions that could help shape regulations that will allow for secure yet easily accessible data collection in the future. DCT models, which function on a global scale, can only thrive if patients have faith in the security of their data and regulators are confident that these technologies can adhere to all data privacy regulations. Although 71% of countries have passed data protection and privacy legislation, according to the United Nations Conference on Trade and Development, steering through the diverse regulatory requirements is an intricate affair. Delaying action until a prominent data breach occurs could harm the reputation of DCTs as a dependable research model and trigger more stringent regulations that might impede innovation.

This does not mean we must return to physical evaluations and written study records. Alternatively, it indicates that we, as a sector, must thoroughly examine the technological framework, software, and protocol designs we rely on to guarantee the safety of data from collection to reporting to analysis. Modern methods will necessitate a cooperative endeavor among regulators, industry, and academia to set benchmarks for data collection and reporting within a DCT.

About The Author:

Rashida Rampurawala is a manager - clinical data management at GSK. She pursued masters in biomedical sciences from UEL in UK and has an PG diploma in business management from XLRI in India. She started her career in the UK and then moved back to India in 2011. She has 13-plus years of CDM experience, has presented at various conferences held by ACDM, SCDM, DIA, ISCR, PHUSE, and has conducted RBM workshops at DIA and ISCR. She is a data visualization enthusiast andis a part of the SCDM author group, which is updating the GCDMP chapters for CCDM certification.

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Understanding Data Collection And Management In Decentralized ... - Clinical Leader

Asymmetry Finance Raises $3M Seed Round to Solve Centralization Threat to the Ethereum Ecosystem – Yahoo Finance

Ecco Capital Leads Raise With Top Blockchain & Technology VCs, Bringing Project Valuation to $20M

NEW YORK, May 16, 2023--(BUSINESS WIRE)--Asymmetry Finance, a liquid staking tokens (LST) protocol, today announced its seed round totaling $3 million in conjunction with the official launch of its platform. The raise was led by Ecco Capital, a venture capital fund focused on frontier crypto innovation. Asymmetry Finances liquid staking tokens protocol is a custom-built solution to the centralization of the staked Ether market.

While the $13.6 billion LST market continues to blossom into one of the most attractive sectors of DeFi due to its liquidity and flexibility, the LST market remains highly centralized. Currently, 88% of the LST market is staked on Lido Finance creating a single point of failure and posing significant security vulnerabilities. The centralized custodianship of staked assets on Ethereum will only grow more concerning as more users flock to the network to stake assets following the recent Shapella upgrades.

New and veteran DeFi users, as well as institutions, are in need of a liquid staking solution that promotes decentralization, while retaining the benefits of LSTs and optimal capital efficiency. Asymmetry offers an immediate solution to the scalability and centralization challenges facing the Ethereum LST market.

"Staking on Ethereum is essential for securing, scaling, and sustaining the network," said Justin Garland, co-founder of Asymmetry Finance. "The percentage of ETH staked relative to other chains is significantly lower which we believe presents a unique opportunity to onboard users and reshape the highly centralized staking market. We want to encourage all Ethereum holders to stake and help secure the network itself while also earning yield. The challenge is incentivizing users to simultaneously contribute towards decentralization as well, rather than compounding on the centralization that we currently see in the market."

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"Substantial centralization not only inherently conflicts with the core fundamentals of DeFi, but also has potential knock-on effects for the entire ecosystem," added Hannah Hamilton, co-founder of Asymmetry Finance. "Asymmetrys vision is not to directly challenge Lido or Rocketpool, but to advance the core tenets of decentralization on the Ethereum network, and empower DeFi users with a novel liquid staking alternative."

The successful seed raise drew support from some of the most notable venture funds, including: Ecco Capital, Republic Capital, and GMJP. Additionally, Asymmetry received investment from one of the leading LST providers, Ankr, highlighting Asymmetrys symbiotic relationship with all LST providers. Asymmetry Finance will use the resources to further develop its liquid staking protocol, add top talent to the team, and onboard decentralized finance (DeFi) enthusiasts and institutions to its platform.

"Republic Capital sees the liquid staking market as one of the leading sectors in the current crypto industry and were thrilled to see tech providers and developers that not only seek to increase decentralization but also create an easier experience for the act of staking," commented Graham Friedman, Head of Venture of Republic Crypto. "We see the Asymmetry team as fitting this vision by nailing both items. Blended with their experience in crypto native teams we look forward to their continued launch of products that augment and enhance the staked asset markets in order to help it thrive and grow."

"Ecco Capital views the growing staking economy as DeFi's fixed income equivalent. We have partnered with Asymmetry Finance because of their dedication to decentralizing the Ethereum liquid staking ecosystem. The team continues to ship major milestones in their roadmap, and aims to build the best tools for retail users and institutions to access highly competitive DeFi yield on one seamless platform," said Daniel Abrahamian, CIO of Ecco Capital.

Central to the Asymmetry Finance protocol is its flagship project, Simple Asymmetry Finance Ethereum (safETH), which aims to deliver consistent yield to users in a safe and efficient manner. The core elements of safETH include:

Fee-Free Decentralized Asset Basket: The use of a decentralized basket of assets with no additional user fees directly mitigates risks such as the central point of failure, and a singular dominant custodian, at risk of possible regulation.

Simplicity and Accessibility: Lowering the point of entry to all DeFi users in an effort to make DeFi more boring.

Indexed Products: Indexed products are traditionally popular across markets due to their diversification by nature and reduced risk, particularly in the case of passive yield.

To learn more about Asymmetry Finance, please visit: asymmetry.finance. Follow Asymmetry Finance on Twitter, and stay up-to-date on Medium.

About Asymmetry Finance

Asymmetry Finance is a groundbreaking DeFi protocol designed to decentralize Ethereum by making complex strategies with market leading yield and asymmetric upside accessible to the next billion Web3 users.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230516005362/en/

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Asymmetry Finance Raises $3M Seed Round to Solve Centralization Threat to the Ethereum Ecosystem - Yahoo Finance

Lido Community Decides on Ethereum V2 Upgrade for Enhanced … – Inside Bitcoins

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Lido, the popular liquid staking platform, is currently conducting a vote for the implementation of its second iteration on the Ethereum blockchain.

This move is a significant moment for participants in the decentralized finance (DeFi) community, as it aims to enhance decentralization and provide improved on and off ramps into Ethereums staking ecosystem.

Lidos Twitter account has referred to this version, known as v2, as the most important upgrade to date since its launch in December 2020. Ethereum holds a crucial position for Lido as its primary and largest market for liquid staking tokens.

The v2 upgrade on Ethereum focuses on two key aspects: ETH staking withdrawals and the introduction of a Staking Router. The latter is designed to encourage greater participation from a diverse range of node operators.

Lido currently stands as the leading liquid staking platform within the DeFi space, with a total value locked across the Ethereum ecosystem amounting to $11.77 billion, according to DefiLlama.

The integration of withdrawals and the proposed Staking Router will contribute to decentralizing the network further, promoting a healthier Lido protocol, and fulfilling the long-awaited capability of staking and unstaking (withdrawal) at will.

This reinforces the significance of stETH as a highly composable and valuable asset on the Ethereum platform.

The voting process will conclude on May 15, and if approved, Lidos smart contracts will undergo an upgrade, marking the official launch of v2.

At the time of writing, all participating LDO token holders have voted in favor of deploying the upgrade. The governance token for Lido, LDO, has experienced a 5.37% surge in the past 24 hours, reaching a value of $1.88, as reported by CoinMarketCap.

Lido DAO governance had been in the process of deliberating whether to restore funds that were unintentionally directed to its execution layer rewards vault as a result of a SushiSwap attack that caused a breach of $3.3 million last month.

The majority of the funds that were lost can be attributed to Michael Patryn, also known as Omar Dhanani, who is suspected of being a repeated scammer and was involved with the now-defunct QuadrigaCX. While more than 885 ether has been successfully recovered, approximately 39.8 ETH was rerouted to the Lido DAO treasury and remains unrecovered at this time.

After the submission of a proposal to return the funds, the Lido team conducted a snapshot vote. The vote revealed that an immense majority of the Lido community (99.92%) decided against taking any action and opted not to return the 39.8 ETH to Sifu.

During a discussion, Misha Putiatin, the CEO of Statemind, expressed concerns about potential consequences for the protocol if the proposal were approved. He highlighted the lack of a clear framework, explaining that accepting hack reimbursement proposals could significantly burden Lido DAO.

Being responsible for determining the legality of activities within other protocols goes beyond its usual capacity and could expose Lido DAO to unforeseen legal risks.

Recently, there has been a notable change in the voting outcome observed within Lido DAOs governance. Overnight, the vote regarding the return of funds that were unintentionally directed to its execution layer rewards vault during a SushiSwap attack has experienced a complete reversal.

Consequently, the Lido DAO governance has made the decision to return the funds, marking a departure from their prior stance. This shift signifies a fresh consensus within the Lido community concerning the retrieval of the breached funds.

The recent bear market has made its presence felt once again, leaving uncertainty regarding its duration. Since the beginning of March 2023, the cryptocurrency market has experienced a significant decline, causing anxiety among investors about the future of digital currencies.

Lido DAO too has been severely affected by the behavior of the market, although it did manage to make a slight rebound recently. While the upgrade may have helped push the price temporarily, investors remain concerned about the future trajectory of the token. We have a fair prediction of our own and believe it could be approaching the $2 level.

Lido DAO (LDO), a decentralized autonomous organization focused on building the staking infrastructure for Ethereum 2.0, has been heavily impacted by the prevailing market volatility. Over the past few days, Lido DAO (LDO) has experienced significant lows, leading to distress among its investors.

Currently priced at $1.88, with a trading volume of $80 million, Lido DAO (LDO) is expected to trade within a range of $2.31 to $2.68 before the start of Q4 2023, as investors continue to add the token to their portfolios amidst the ongoing price fluctuations.

With that being said, the target could very well distort given the volatile nature of the market. Its best for investors to do their own research before investing in any token.

We recommend that investors put their efforts into new cryptocurrencies instead. These presale cryptos have stronger fundamentals and allow investors to make profits before the assets face the volatility of live trading.

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Lido Community Decides on Ethereum V2 Upgrade for Enhanced ... - Inside Bitcoins

Ethical and Social Implications of Blockchain Technology and Its … – ReadWrite

Blockchain technology has the potential to revolutionize how we interact and trust each other by providing a decentralized and transparent platform for secure transactions. In the next decade, the blockchain technology market is expected to skyrocket, growing at an unprecedented CAGR of 87.1% from 2022 to 2030 and reaching a staggering market size of USD 1,593.8 billion. This exponential growth reflects the vast potential of this innovative technology to revolutionize industries and transform global economies.

However, blockchains disruptive nature also raises several ethical and social implications that require responsible and sustainable use.

This piece endeavors to illuminate the intricate and diverse ethical and social impacts of blockchain technology and its immense potential to positively revolutionize our society. By comprehending these effects and embracing a judicious and sustainable application of blockchain technology, we can leverage its advantages to establish a society that is more comprehensive, open, and just.

Blockchain is a revolutionary innovation that securely stores and shares data in a decentralized digital ledger. It records transactions transparently and securely. Heres how it works:

Blockchain can transform various industries with its decentralized, secure nature that builds trust and transparency in transactions. Its potential continues to evolve, leading to more innovative use cases.

Blockchain technology has been hailed as a transformative force in industries ranging from finance to healthcare. However, with any new technology comes ethical considerations that must be considered.

This is a significant ethical implication of blockchain technology. Though its often presented as a private way of transaction, every transaction is visible to the network participants. This creates questions about personal information control and potential misuse by corporations or governments.

Blockchains high computing power requirements can widen existing inequalities. Its only accessible to those who can afford the necessary equipment and energy costs, leaving individuals and communities without access behind and creating a digital divide.

Decentralized blockchain networks need more central authority for governance, posing an ethical dilemma. Such technology could be used for nefarious purposes, such as money laundering or terrorism financing.

Blockchain technology has been hailed as one of the most disruptive innovations of our time. While it has the potential to revolutionize various industries and bring about economic growth, it also has significant social implications.

Certainly, the capacity of blockchain technology to promote social and financial inclusion remains unparalleled and is poised to create a revolutionary impact in this domain. Through the deployment of blockchain-based solutions, individuals who are difficulties accessing conventional financial institutions can now participate in the global economy with ease.

Moreover, blockchain technology can facilitate the eradication of traditional financial services barriers and considerably reduce costs by enabling borderless payment systems, which operate more efficiently and expeditiously than the current systems. The implementation of blockchain technology has the potential to reduce banking infrastructure costs by as much as 30 percent.

Blockchain technology also enables transparency and accountability in various industries. By using a distributed ledger, stakeholders can track the entire lifecycle of a product, from its origin to its final destination, ensuring that it is ethically sourced and produced. This has implications for the fashion and food industries, where ethical concerns around labor and environmental impact are increasingly salient.

Another social implication of blockchain technology is its potential to decentralize power structures. Traditional institutions such as governments and banks have historically monopolized power over institutions. But blockchain technology enables individuals to engage in direct, peer-to-peer transactions without intermediaries.

The ability to decentralize power has implications for democracy, governance, and social movements, as individuals can engage in collective action without relying on centralized institutions.

The impact of blockchain technology on the employment and economic sphere constitutes yet another critical social implication. While this technology may cause job losses in certain sectors, it simultaneously provides a gateway to a plethora of new job opportunities in various domains, including but not limited to blockchain development, cybersecurity, and data analytics.

In addition, the advent of blockchain technology has sparked the emergence of novel economic models, exemplified by the likes of decentralized autonomous organizations (DAOs) and token economies. These avant-garde models hold immense potential to facilitate greater financial inclusion, democratize investment opportunities, and pave the way for alternative funding mechanisms.

Although blockchain technology comes with complex ethical and social implications, it has the potential to transform society by improving transparency, security, and accountability, promoting social inclusion and decentralization.

However, we must proceed cautiously and consider privacy, ownership, and accessibility. The evolution of blockchain technology promises to be fascinating and could shape the future of industries and institutions.

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The Changing Landscape of Bitcoin Mining and Its Implications for Decentralization in the Cryptocurrency World – Woman’s Era

Digital currencies such as Bitcoin are not without costs to society, and the environmental impact of their production is a major concern. For Bitcoin to justify its existence in the face of criticism over its carbon footprint, it must fulfil its intended role as a functioning currency. Critics argue that Bitcoins value is largely speculative, with little practical application beyond serving as a store of value. The recent decision by China, which previously accounted for 75% of global Bitcoin hashing power, to halt cryptocurrency mining has highlighted the vulnerability of the industry and the need for more sustainable solutions. Further, you can visit this trading software

To safeguard financial stability and integrity in the country, the Chinese government has implemented a new set of regulatory measures aimed at both financial institutions and mining operations. Prime Minister Liu has made it clear that the Chinese authorities will be taking a tough stance against bitcoin mining and trading activities. As a result of the recent crackdown, Chinese mining operations, which were responsible for more than 75% of the global Bitcoin hash rate, have been hit hard.

As reported by The Times, miners in the Sichuan region rely heavily on renewable energy sources during the wet season to power their operations. This is driven by the desire to maximize profits, as energy costs can have a significant impact on their bottom line. However, during the dry season, many miners are forced to resort back to coal energy, which is less expensive but also more carbon-intensive. Chinas increasing focus on reducing its carbon footprint and becoming carbon neutral by 2060 is driving its mining rhetoric, and many in the industry are now seeking more sustainable solutions to power their operations year-round.

Chinese blockchain journalist Wu Blockchain recently took to Twitter to share insights into the implications of Chinas mining ban on the cryptocurrency industry. As a result of the ban, Bitcoin mining is likely to revert to the levels seen in 2014-2015, while large-scale mining companies are already exploring alternative opportunities in Europe and the US. In a further blow to the industry, Huobi, the second-largest crypto exchange by volume, has also announced its decision to suspend crypto mining activities in China.

Bitcoin mining activities in Xinjiang province were hit by an explosion at a mining facility in April 2021, causing a sharp drop in the network hash rate of almost 30%. The incident once again highlighted concerns around the concentration of hash rate within the cryptocurrency industry. It also raised questions about the environmental impact of Bitcoin mining, with the industrys energy usage now on par with that of entire countries like Argentina and Sweden.

The incident has spurred renewed discussions around the need for greater decentralization within the industry, as well as the exploration of alternative, more sustainable energy sources to power mining activities. Despite the absence of any explicit reference to Chinas hardline stance on crypto mining, the industry is undergoing a significant shift. Mining activities outside of China, particularly in the US, have surged in popularity, with companies such as Foundry looking to challenge Chinas mining dominance.

At the same time, institutional investors have been pouring money into mining equipment, with data showing that they had invested more than $500 million before Elon Musks recent criticism of Bitcoins carbon footprint. The industrys move away from China is being driven by a desire for greater decentralization, as well as concerns about the environmental impact of mining. As the industry continues to evolve, it remains to be seen how these factors will shape the future of crypto mining.

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The Changing Landscape of Bitcoin Mining and Its Implications for Decentralization in the Cryptocurrency World - Woman's Era