How to use the EIA oil report in trading

How to use the EIA oil report in trading The content of the article What is an EIA report What data is published in the report How to use the report in trading Long term trading Short term trading Conclusion In this review, we will consider the weekly EIA report on the state of the oil industry, which has a strong influence on black gold quotes. Many traders closely follow his publications and use the information received when trading. What is an EIA report The Energy Information Administration, EIA, is a division of the US Department of Energy established in 1977. It is responsible for the objective collection of energy data, analysis and economic forecasts. Various reports are regularly published that provide information on energy-related topics. For example, reports on energy stocks, demand and prices. The United States is not only a major oil consumer (approximately 20% of world consumption), but also a leading oil producer. The balance of supply and demand in the US gives a rough ...

Cryptocurrencies that work on the PoW algorithm

 Cryptocurrencies that work on the PoW algorithm

Proof-of-Work is used in most well-known cryptocurrencies, including:

Bitcoin. This is the very first and most demanded cryptocurrency that uses the PoW algorithm from the very beginning (since 2008).
Litecoin is a well-known fork of Bitcoin, which allows you to double the processing speed of blocks than in the BTC network. Litecoin is the first network to convert cryptocurrencies.
Ethereum is a cryptocurrency that was the first to offer the community smart contracts to automate various processes and create applications. Today, Ethereum uses a hybrid Casper algorithm, and in the future, developers want to completely abandon the PoW algorithm. This is due to the fact that Vitalik Buterin originally intended to use PoS, but the algorithm had problems that forced the developers to turn to more proven mechanisms. Now Buterin hopes that the Casper protocol he created will solve the actual problems of the PoS algorithm and will be able to completely prevent the possibility of forks, which will allow him to get away from Proof-of-Work in the future.
DASH is a promising cryptocurrency that provides completely anonymous payments. Today, the number of DASH transactions exceeds 1% of the total. DASH mining is based on the X11 hashing algorithm. This is an upgraded version of PoW that has resulted in higher system utilization. As a result, the popularity of the network grows, the complexity of mining and the rate of cryptocurrency increase.
Quark is an experimental cryptocurrency that can be mined on CPU processors. Initially, transactions on the network were confirmed every 30 minutes. The uncontrolled release of coins attracted the attention of users, which is why the number of miners increased. Light mining led to the fact that in the first 6 months of the project's existence, users mined almost 200 million coins. The developers had to reduce the issue to 1 million Quark per year.
Monero is an anonymous payment platform. The developers transferred the cryptocurrency to the new PoW CryptoNight consensus algorithm. This happened because 85% of the total network hashrate is generated by FPGA and ASIC devices. The hashrate of one such device is about 128 Kh/s, while the mining farm of 6 video cards barely reaches 6-12 Kh/s. This calls into question the decentralization of the network and contradicts the principles that are at the heart of Monero.