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CoreWeave, the largest U.S. miner on the Ethereum blockchain, is redirecting the processing power of 6,000 specialized computer chips toward research to find a therapy for the coronavirus.

These graphics processing units (GPUs) will be pointed toward Stanford University's Folding@home, a long-standing research effort that unveiled a project on Feb. 27 specifically to boost coronavirus research by way of a unique approach to developing pharmaceutical drugs: connecting thousands of computers from around the world to form a distributed supercomputer for disease research.

CoreWeave co-founder and Chief Technology Officer (CTO) Brian Venturo said the project has at least a shot at finding a drug for the virus. As such, CoreWeave has responded by doubling the power of the entire network with its GPUs, which are designed to handle repetitive calculations.

According to Venturo, those 6,000 GPUs made up about 0.2 percent of Ethereum's total hashrate, earning roughly 28 ETH per day, worth about $3,600 at press time.

There is no cure for the coronavirus just yet (though various groups are working on vaccines and research to combat the disease, including IBM's supercomputer). Venturo noted that Folding@home has been used to contribute to breakthroughs in the creation of other important drugs.

"Their research had profound impacts on the development of front-line HIV defense drugs, and we are hoping our [computing power] will aid in the fight against coronavirus," Venturo said.

The coronavirus is taking a toll across the world. Italy and Spain are on lockdown. Conferences, stores and restaurants are closing to stem the spread of the disease; by stoking fears, it's slamming the financial markets in the process.

World computer

When the idea of using GPUs for coronavirus research was mentioned to CoreWeave, the team didn't think twice.

They had a test system up and running "within minutes," Venturo said. Since then, the project quickly snowballed. CoreWeave has been contributing over half of the overall computing power going into the coronavirus wing of Folding@home.

"The idea of 'should we do this?' was never really brought up, it kind of just happened. We were all enthusiastic that we might be able to help," Venturo added.

Folding@home is a decentralized project in the same vein as Bitcoin. Instead of one research firm alone using a massive computer to do research, Folding@home uses the computing power of anyone who wants to participate from around the world even if it's just a single laptop with a little unused computing power to spare.

In this case, the computing power is used to find helpful information relating to the coronavirus. Much like in bitcoin mining, one user might detect a "solution" to the problem at hand, distributing this information to the rest of the group.

"Their protein simulations attempt to find potential 'pockets' where existing [U.S. federal agency Food and Drug Administration (FDA)] approved drugs or other known compounds could help inhibit or treat the virus," Venturo said.

Viruses have proteins "that they use to suppress our immune systems and reproduce themselves. To help tackle coronavirus, we want to understand how these viral proteins work and how we can design therapeutics to stop them," a Folding@home blog post explains.

Simulating these proteins and then looking at them from different angles helps scientists to understand them better, with the potential of finding an antidote. Computers accelerate this process by shuffling through the variations very quickly.

"Our specialty is in using computer simulations to understand proteins moving parts. Watching how the atoms in a protein move relative to one another is important because it captures valuable information that is inaccessible by any other means," the post reads.

Long shot

Folding@home could use even more power. Venturo urges other GPU miners to join the cause.

Even without these calls for participation, though, miners of other cryptocurrencies are already independently taking action. Tulip.tools founder Johann Tanzer put out a call to action to Tezos bakers (that blockchains equivalent of miners) last week, promising to send the leading contributor to Folding@home a modest 15 XTZ, worth roughly $20 at press time.

The initiative blew up, to Tanzer's surprise. Though they might not be contributing as much power as CoreWeave, 20 groups of Tezos miners are now contributing a slice of their hashing power to the cause. Tanzer's pot has swelled to roughly $600 as Tezos users caught wind of the effort and donated.

But that's not to say all miners can participate. While GPUs are flexible, application-specific integrated circuits (ASICs), a type of chip designed specifically for mining, aren't, according to Venturo. Though ASICs are more powerful than GPUs, they're really only made for one thing: To mine cryptocurrency. This is one advantage Venturo thinks Ethereum has over Bitcoin, since GPU mining still works on the former, whereas the latter is now dominated by ASICs.

"This is one of the great things about the Ethereum mining ecosystem, it's basically the largest GPU compute resource on the planet. We were able to redeploy our hardware to help fight a global pandemic in minutes," Venturo said. (However, it's worth noting that Ethereum has seen ASICs enter the fray. Not to mention, ether miners might soon go extinct when a pivotal upgrade makes its way into the network.)

ASICs are useless for the Folding@Home effort, but if bitcoin miners have old GPUs lying around from the early days that they could contribute, too.

Even if other miners join up, though, it's still a long shot that the effort will lead to a helpful drug.

"After discussing with some industry experts [...] we believe the chance of success in utilizing the work done on Folding@Home to deliver a drug to market to be in the 2-5% range," Venturo said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Thousands of These Computers Were Mining Cryptocurrency. Now They're Working on Coronavirus Research - CoinDesk - CoinDesk

These days, its taken as a given that KYC must be endured to trade cryptos on centralized exchanges. In fact, there are still dozens of exchanges you can access without having to risk your personal documents and identity. The following guide examines six such platforms, and considers precautions you should take when using KYC-less crypto exchanges.

Also read: BTC Hashrate Follows Price Drop 20% Lower Before Bitcoin Halving

Know Your Customer (KYC) legislation requires businesses to verify the identity of individuals using their service, particularly where the transmission of money is involved. This includes virtual currencies. As a result, the majority of crypto exchanges now enforce KYC. However, it is not mandatory to use a KYC exchange (also referred to as surveillance exchanges by their detractors) to trade. A number of exchanges legally operate in jurisdictions that do not mandate KYC, or have no official headquarters, placing them in a grey area in terms of legal obligations.

Generally speaking, KYC exchanges that are fully regulated offer better protections for their customers, and there may be greater redress in the event of something going wrong, such as a hack. However, this does not mean that KYC-free exchanges are less trustworthy; it is the duty of each trader to perform their due diligence and choose a reputable exchange.

It is not the case that only shadowy individuals seek KYC-less exchanges, such as for tax evasion or criminal purposes. In fact, many traders flock to these platforms because they recognize that KYC requirements make everyone less safe through creating a honeypot for hackers. If you value your privacy, and wish to keep your personal details out of the reach of busybodies and criminals, it makes sense to seek platforms where you can exercise your right to trade cryptocurrencies in peace. Here are six exchanges that fit the bill.

Low fees, a fast trading engine and advanced bidding tools are among the features that Nominex flaunts. Up to 3 BTC a day can be deposited and withdrawn without requiring KYC. The Seychelles-based exchange (registered in the same locale as Bitmex) operates a popular affiliate program, offers demo accounts for traders finding their feet, and is about to launch daily trading tournaments.

Stop, Stop Limit, Trailing Stop, and Scaled are among the order types that can be placed on Nominex. Theres 24-hour customer support and trading fees are reduced by 50% for holders of the native NMX token.

Bybit is a popular derivatives exchange that could become a lot more popular if Bitmex introduces KYC, as has been rumored. Founded in Singapore, Bybit doesnt require KYC, although U.S. residents are excluded from trading. Its most popular product is its BTC-USD perpetual swap, although Bybit also offers futures for XRP, EOS, and ETH. Bybit features a clean and intuitive layout and good customer support that operates around the clock and in multiple languages.

One of the best things about Bybit is its guides to margin trading. These help traders learn the terms, tricks and tips required to effectively swap derivatives products. Theres a Bybit mobile app available on the iOS and Google Play stores, while regular trading competitions keep things fresh.

The worlds largest cryptocurrency exchange is also a bastion of KYC-less trading. There are some caveats though. For one thing, U.S. citizens must trade on Binance US, which comes with KYC. Moreover, there are signs that Binance may transition to full KYC at some stage as its compelled to comply with the numerous jurisdictions where it operates. For now, though, spot trading can be accessed without requiring KYC, and you can withdraw up to 2 BTC per day. For margin trading, however, as well as various other Binance products, KYC is required.

Bitmax is a popular altcoin exchange thats carved out a niche since launching in 2018. Theres reasonable liquidity, margin trading, a wide range of coins listed, and a native BTMX token that provides discounted trading fees and other benefits. The exchange holds regular airdrops and allows users to earn USDT for lending BTMX. Fiat deposits can be made with credit or debit card and theres no KYC requirement, with a 2 BTC daily withdrawal limit.

Many exchanges operate partial KYC, Kucoin among them. What this means is that most traders will not be required to complete verification unless there is suspicious activity or in the case of them wishing to exceed the 2 BTC daily trading limit. Like leading exchanges Binance and Huboi, Kucoin has transitioned into a crypto company that offers a broad range of services, operating under various subdivisions. Although the liquidity could be better, Kucoin has a lot of things in its favor. Its easy to use for one thing and lists a number of tokens that arent available on major exchanges.

Theres a lot more to exchange.Bitcoin.com than merely the ability to sign up without undergoing KYC. BCH trading pairs, SLP tokens, and useful assets that arent available on other platforms are among its many attributes. Theres also the strength of the Bitcoin.com brand, which gives the exchange greater credibility than some of the other KYC-less platforms on the market. The clean and intuitive interface is free of clutter, and theres a community feel to Bitcoin.com Exchange, which is particularly popular with BCH proponents.

Its important to do your own research before signing up for a cryptocurrency exchange. Read reviews, check its policies on accessing the platform from different countries, and determine the quality of its customer support. Finally, and this applies to using all centralized exchanges, regardless of KYC, dont leave all your crypto on there. Only deposit what you actively need for trading purposes and keep the rest of your stack in a noncustodial wallet. Trade safe, be smart, and keep your identity private by avoiding surveillance exchanges.

What KYC-free exchanges do you recommend? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.

Kai's been manipulating words for a living since 2009 and bought his first bitcoin at $12. It's long gone. He specializes in writing about darknet markets, onchain privacy, and counter-surveillance in the digital age.

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6 Cryptocurrency Exchanges That Don't Require KYC - Bitcoin News

Although it is true that most cryptocurrencies have experienced significant losses in recent weeks, similar losses have been seen on multiple occasions in the past, and the market has always bounced back stronger than before.

The last month has been an interesting time for both cryptocurrency traders and holders, as the cryptocurrency market witnessed one of the biggest crashes in its brief history.

As it stands, the vast majority of cryptocurrencies have lost more than 40% of their value in less than a monthinterrupting two months of solid growth. Now, on the brink of what some consider to be a potential recession, cryptocurrencies are due for their biggest test yet.

Since cryptocurrencies are widely considered to be the perfect hedge against a failing traditional economy, the recent cryptocurrency market crash could represent the perfect time to enter the market and snap up some cryptocurrencies on the cheap.

Want to be in a position to profit from the potential crypto market boom? Heres what you might want to start doing.

As with any investment, it is important to do your homework. This is doubly important when dealing with the particularly volatile asset class that is cryptocurrency. After all, with price swings of more than 10% in a single day relatively commonplace, cryptocurrencies can provide both incredible gains or devastating losses very quickly.

Because of this, by taking some time out of your schedule to study both macro and micro-economics as well as technical analysis and charting, you might just be in a position to recognize potentially lucrative entry opportunities that you might have otherwise missed. Since the market is now considered heavily oversold, these opportunities might arrive sooner, rather than later.

Although studying financial theory will get you part of the way towards becoming a competent trader, getting some hands-on experience is an essential part of the process. Because of this, using the demo account on your exchange platform of choice can be a suitable way to test out new strategies and get to grips with how the market works with no risk.

It is even possible to turn a profit while trading on a demo account since the cryptocurrency derivatives exchange StormGain is currently running a 100,000 USDT coin contest which sees the best performing demo traders win cash prizes. With demo trading competitions becoming more popular in recent times, it is worth keeping an eye out for these while you brush up on your skills.

The cryptocurrency market is in a slump right now, but that doesnt mean there are no opportunities to be hadfar from it. Savvy traders are able to extract impressive profits even in a declining market by trading on the short side where necessary while going long when the market shows bullish signs.

Likewise, since the market has been extremely volatile in recent days, the price of Bitcoin can fluctuate wildly throughout the day, providing traders a large number of potentially profitable trading opportunities at the same time.

One of the best ways to take advantage of the recent market volatility is by trading cryptocurrency futures. Futures allow customers to trade on both the short and long sides, allowing traders to profit no matter which direction the market moves in. Although being able to speculate on either direction is certainly useful, the ability to do this while trading with leverage makes cryptocurrency futures a powerful tool in the current market climate.

By trading with leverage, traders can multiple their exposure to market movements. As it stands, StormGain offers a maximum of 200x leverage for its BTC/USDT futuresenabling traders to turn even a 1% market movement into 200% profit. Likewise, platforms like FTX now offer a wide range of different futures products, allowing customers to go long or short on numerous cryptocurrency trading pairs.

Although it is true that most cryptocurrencies have experienced significant losses in recent weeks, similar losses have been seen on multiple occasions in the past, and the market has always bounced back stronger than before.

However, during this recovery phase, not all cryptocurrencies perform equally well and there are always a handful of cryptocurrencies that either go on to rack up incredible gains or fail to recover. As such, it is important to maintain a diverse cryptocurrency investment portfolio, to ensure you dont accidentally go all-in on a dud while spreading your risk across multiple different assets.

Thanks to the advent of cryptocurrency indexes, this is now a relatively simple task, since a variety of platforms now offer indexes that track multiple cryptocurrencies at once. One of these is the Crypto20 fund by Invictus, a tokenized index fund composed of investments in 20 different cryptocurrencies.

Asset management firm Bitwise also offers a variety of different index funds, including ones that focus on large-cap, medium cap and small-cap cryptocurrencies. Like most index funds, the ratio of investments for each cryptocurrency is rebalanced regularly by a fund manager, helping investors gain exposure to a wide range of cryptocurrencies in a single swoop.

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Masters degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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How to Seize What Might Be Unprecedented Crypto Buying... - Coinspeaker

Several counties across the world have entered the blockchain industry, with applications being quickly identified. Governments have also recognized that the adoption of new technology is a way to expand the current financial structure. Some countries, however, had different opinions, and Russia was one of them. Just recently, the Director of the Central Bank Department stated that they were opposed to institutions organizing the development of cryptocurrency in Russia.

Alexei Guznov, Director of the Legal Department of the Bank of Russia, recently spoke about the crypto discussion of Russian authorities. It also disclosed information on the new terms and requirements set out in the draft CFA bill. The CFA bill is being re-presented in the Kremlin, and Guznov was asked about the preparations for the second reading.

The amendments for the bill have been in the works for more than a year no and many proponents were waiting for it with bated breath. Here the Russian government also plans to understand the differences between certified securities and digital financial assets.

Speaking to Interfax, Guznov stated:

The bill, adopted in the first reading in 2018, was oriented, rather, to the definition of digital assets, it almost did not contain the rules for their circulation.We did the work to refine the text of the project by the fall of 2019.And the main question that arose then is whether it is necessary to include digital currency in the regulatory circuit.This has become a stumbling block.

Russia has stated that it does not want to mix crypto with other regulated assets. At present, the bill simply defines what digital financial assets are while constructing a watershed so that securities and non-cash funds do not mix. Another advantage of the bill was that it provides a basic infrastructure for organizing the issuance and circulation of virtual assets.

Although the cryptocurrency climate was improving in Russia, users still needed to be careful about the jurisdiction. According to Guznov, the ministry was against institutions that can organize the release of cryptocurrencies. The Director of the Central Bank was careful to mention that they could not completely govern the crypto assets held by somebody in the country.

The bill will ensure users adhere to the rules of the IFRS. The IFRS regulations will always have to be held up but reports claimed that a mechanism was being created where a person could present their objections too. Russia was in the throes of several financial changes and it seemed that its tussle with crypto was never-ending.

This February, the Bank of Russia had issued a new set of rules for suspicious transactions and illegal funds. With these laws, any crypto-related transaction was categorized as a potential money laundering risk. While Russia has been banning the use of external cryptocurrencies, reports have shown that the state-backed crypto was in the works. No detailed plans have come out yet but proponents are waiting to watch what the Kremlin does with blockchain and crypto.

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Russian Premier Bank Signals Red For Cryptocurrency Circulation And Issuance - TWJ News

BitGo, the cryptocurrency custodian giant is now offering insurance for assets that it holds in excess of $100 million coverage.

According to an announcement released on the 18th of March, the platform is the first crypto assets custodian to allow its customers to buy excess limits above its standard policy. More than $100 million of insurance coverage in the crypto space was initially launched.

As this new policy comes into fruition, the assets of clients from BitGoare going to insure their assets beyond custodians $100 million coverage. The new policy will also see that many features adjustable limits and prorated premiums allow the customer to pay only for a relevant period of insurance.

Furthermore, the new insurance coverage is going to be managed by a specialty insurance broker firm Woodruff-Sawyer & Co in a partnership with Paragon Brokers.

Given the fact that cryptocurrency is a risky asset to hold, it shouldnt come as a surprise that the demand for insuring them is on the rise. Reports have previously come out stating that the protection of crypto holdings, in terms of insurance, is slowly but surely becoming a mainstream choice.

It will be interesting to see how this situation plays out. For more news on this, Crypto Portfolios and other crypto updates, keep it with CryptoDaily!

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BitGo Starts to Further its Cryptocurrency insurance policies - Crypto Daily