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The King is dead. Long Live the King. The ever shifting world of altcoins have a new market leader. Once again Ripple has achieved impressive overnight growth and thrown Ethereum aside to become the world’s second largest cyptocurrency, the biggest alternative to the mighty Bitcoin. The real question is whether Ripple’s growth is sustainable in the long term, or merely a spike.

What caused Ripple’s growth?

Ripple's growth

The top five CryptoCurrencies, Credit – coinmarketcap.com

Ripple has grown by over 24.2% within 24 hours and at time of writing it has a market cap of $14,679,576. This is still well behind Bitcoin’s $29,881,238.660 but it is certainly nothing to sniff at.

Ripple has been somewhat volatile for the past since the formation of a Japanese bank consortium on May 8th. The Japan bank Consortium was formed in order to facilitate cross-border and domestic payments using Ripple. This announcement sparked a flurry of trading in Japan and South Korea and since then the Ripple has been volatile, with large peaks and troughs.

Ripples main competitor, Ethereum, has also followed a similar strategy with the launch of the Enterprise Ethereum Alliance in February of this year. The aim of these public blockchains is to give businesses and start ups the ability to use cryptocurrencies in order to conduct businesses.

Both altcoins have been growing since the formation of their respective blockchains but Ripple’s growth implies that it has garnered more interest from investors.

Ripple’s growth may well be a bubble. Bubble’s tend to burst.

If both Ripple and Ethereum are using similar methods to try gain market dominance, why is Ripple growing so rapidly when Ethereum isn’t?

Well one reason could be that the growth of Ripple isn’t organic. When a cryptocurrency is growing organically it tends to increase at a slow but steady pace, buoyed by consumer confidence. A currency growing in this pace is usually growing in a sustainable way and is unlikely to crash without some kind of warning.

Ripple's growth

Ripple has been very volatile since it’s rise on May 8th but it is growing- Credit coinmarketcap.com
The rapid growth of Ripple has all the hallmarks of unsustainable inorganic growth. While the up-tick caused by the Japan Bank Consortium makes sense the rapid growth seen over the last couple of days does not seem to have any meaningful basis.

Instead it looks like Ripple’s value has been inflated by an influx of Japanese and South Korean investors, many of whom don’t seem to entirely understand the currency. Legislation in Japan essentially legalizing cryptocurrencies has led to an explosive growth of Ripple trading in Japan. This has led to a number of investors and casual traders to believe that investing in altcoins was a profitable idea, without really understanding what they are.

This increased trading has meant that Ripple’s has been inflated well beyond it’s real value and when they figure that out there is a good chance that the bubble will burst, leading to huge losses for investors.

I think the question is not so much if Ripple’s bubble will burst but when it will.

You'll find me wandering around the Science sections mostly, excitedly waving my arms around while jumping up and down about the latest science and tech news. I am also occasionally found in the gaming section, trying to convince everyone else that linux is the future of the computer gaming.

Engineering

New concrete that doesn’t need cement could cut carbon emissions in the construction industry

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Even though concrete is a very common building material, it is not at all the most environmentally friendly choice. Because of this, scientists and engineers have been looking for alternatives that are better for the environment. They may have found one: concrete that doesn’t need cement.

Cement production, which is a crucial ingredient in concrete, ranks as the third most significant contributor to human-caused carbon emissions globally. Nevertheless, in recent years, a multitude of alternative techniques for producing more environmentally friendly concrete have surfaced. One proposed method involves utilizing industrial waste and steel slag as CO2-reducing additives in the concrete mixture. Another suggestion is to utilize spent coffee grounds to enhance the strength of the concrete while reducing the amount of sand required.

However, a certain company has devised a technique to produce cement-free concrete suitable for commercial enterprises.

The concrete has the potential to have a net reduction in carbon dioxide and has the ability to prevent approximately 1 metric ton of carbon emissions for every metric ton used. If this statement is accurate, the cement-free binder will serve as a noteworthy substitute for Portland cement. According to BGR, the new concrete also complies with all the industry standards of traditional cement concrete, ensuring that there is no compromise in terms of strength and durability.

While it is still in the early stages, the situation seems encouraging. C-Crete Technologies, a company specializing in materials science and holding the patents for a novel form of concrete, has utilized approximately 140 tons of this new cast-in-place (pourable) concrete in recent construction endeavors.

In September 2023, the company was granted an initial sum of almost $1 million, promptly succeeded by an additional $2 million, by the US Department of Energy to advance the progress of its technology. In addition, it has garnered numerous accolades that are facilitating its growth in operations.

The widespread adoption of cement-free concrete in future construction projects has the potential to significantly alter the environmental impact of the industry. Although C-Crete seems to be one of the few companies currently exploring these new alternatives on a large scale, it is likely that others will also start embracing them in the near future.

 

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Engineering

To get gold back from electronic waste, the Royal Mint of the UK is using a new method

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There are hidden mountains of gold in the junkyards, full of old smartphones, computers that don’t work anymore, and broken laptops. A new project in the UK wants to find and use these hidden riches.
The Royal Mint, which makes British coins for the government, has agreed to work with the Canadian clean tech startup Excir to use a “world-first technology” that can safely get gold and other precious metals out of electronic waste (e-waste) and recycle them.

Electronic devices have circuit boards that have small amounts of gold in their connections because gold is a good conductor. These boards also have useful metals like silver, copper, lead, nickel, and aluminum.

In the past, getting the metals was hard, but Excir’s new technology can quickly and safely recover 99 percent of the gold that is trapped in electronic waste.

They prepare the circuit boards using a “unique process,” and then they use a patented chemical formula to quickly and selectively remove the gold. The liquid that is high in gold is then processed to make pure gold that can be melted down and formed into bars. Palladium, silver, and copper could also be recovered with this method.

“Our entrepreneurial spirit has helped the Royal Mint do well for over 1,100 years, and the Excir technology helps us reach our goal of being a leader in sustainable precious metals.” The chemistry is completely new and can get precious metals back from electronics in seconds. “It has a lot of potential for The Royal Mint and the circular economy, as it helps to reuse our planet’s valuable resources and creates new jobs in the UK,” said Sean Millard, Chief Growth Officer at The Royal Mint.

At the moment, about 22% of electronic waste is collected, stored properly, and recycled. But with this kind of new technology, the problem of old electronics could be lessened.

Every year, the world makes about 62 million metric tons of electronic waste, which is more than 1.5 million 40-tonne trucks’ worth. That number will go up by another 32% by 2030 as more people buy electronics. This will make it the fastest-growing source of solid waste in the world.

The World Health Organization says that e-waste is hazardous waste because it contains harmful materials and can leak harmful chemicals if it is not handled properly. For example, old electronics can release lead and mercury into the environment, which can affect the development of the central nervous system while a person is pregnant, as a baby, as a child, or as a teen. Also, e-waste doesn’t break down naturally and builds up in nature.

Aside from being a huge waste, this is also a big problem for the environment. There could be between $57 billion and $62 billion worth of precious metals in dumps and scrap yards.

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Engineering

China’s $47 billion semiconductor fund prioritizes chip sovereignty as a key focus

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China has just shut down a third government-supported investment fund in order to strengthen its semiconductor industry and decrease dependence on other countries for the production and use of wafers. This move is aimed at emphasizing what is known as chip sovereignty.

The National Integrated Circuit Industry Investment Fund of China, commonly referred to as ‘the Big Fund,’ has had two previous iterations: Big Fund I (2014–2019) and Big Fund II (2019–2024). The latter was considerably more substantial than the earlier, but Big Fund III surpasses both with a total of 344 billion yuan, equivalent to around $47.5 billion, as disclosed in official filings.

The size of Big Fund III, which surpasses expectations, further demonstrates Huawei’s growing dependence on Chinese suppliers and reflects the country’s determination to attain self-reliance in semiconductor manufacture. It serves as a reminder that the ongoing competition in semiconductor technology between China and Western countries is reciprocal.

Both the United States and Europe share the desire to decrease their reliance on their long-standing technological competitors. China also has concerns regarding its supply, which extend beyond the potential impact on shipments from the U.S. and its allies.

Taiwan is the primary focus when it comes to chip manufacturing. If China were to take control of its production capabilities, it would greatly disadvantage the United States and its allies. Currently, Taiwan Semiconductor Manufacturing Co. (TSMC) produces approximately 90% of the world’s most advanced chips.

However, according to sources, Bloomberg has learned that ASML, a company located in the Netherlands, and TSMC have methods to render chip-making machinery inoperable in the case of a Chinese invasion of Taiwan.

China now manufactures over 60% of legacy chips, which are often used in automobiles and household appliances, according to a statement made by U.S. Commerce Secretary Gina Raimondo.

The competition between legacy and modern chips has expanded, yielding varying outcomes.

The Chinese official stance is that the policies of the United States is having a negative effect, resulting in a decline in exports from prominent American chip manufacturers. This viewpoint is shared by others as well.

According to Hebe Chen, a market analyst at IG, Nvidia is faced with the challenge of balancing its presence in the Chinese market while also managing the tensions between the United States and China. Due to U.S. sanctions, the company developed three customized chips specifically for the Chinese market. However, in order to remain competitive, the company had to cut the price of these chips, compromising its desired pricing strategy.

Nevertheless, it might be contended that the financial challenges faced by Western chip manufacturers may be justified if it hinders China’s rapid development and acquisition of more sophisticated semiconductors compared to its rivals.

Indications suggest that China may face significant consequences if limitations are imposed, such as the potential loss of access to Nvidia’s advanced chips for its AI companies or increased difficulties for its leading company, SMIC, in manufacturing its own chips.

The existence of Big Fund III indicates that China is experiencing significant pressure. As per reports, the cash will be allocated for both large-scale wafer fabrication, similar to past investments, as well as for the production of high-bandwidth memory chips. HBM chips, often referred to as high-bandwidth memory chips, are utilized in many applications such as artificial intelligence (AI), 5G technology, and the Internet of Things (IoT).

However, the most significant indicator is its size.

With the support of six prominent state-owned banks, Big Fund III has surpassed the $39 billion in direct incentives allocated by the U.S. government for chip manufacture under the CHIPS Act. Nevertheless, the total amount of federal assistance is $280 billion.

The EU Chips Act, valued at €43 billion, appears relatively modest compared to South Korea’s $19 billion support package. It is likely that the markets have taken note of this.

The announcement of Big Fund III triggered a surge in the stock prices of Chinese semiconductor businesses that are poised to gain from this fresh infusion of funding. Nevertheless, Bloomberg observed that Beijing’s previous investments have not consistently yielded positive results.

Specifically, China’s highest-ranking officials were dissatisfied with the prolonged inability to create semiconductors capable of replacing American circuitry. Furthermore, the media outlet highlighted that the previous leader of the Big Fund was dismissed and subjected to an investigation due to allegations of corruption.

Even in the absence of corruption, implementing significant modifications to semiconductor manufacturing is a time-consuming endeavor. In both Europe and the United States, the process takes a considerable amount of time. However, there are noteworthy and innovative advancements occurring.

Diamfab, a French deep-tech startup, is currently developing diamond semiconductors that have the potential to facilitate the green transition, specifically in the automobile sector. Although it is still a few years in the future, these Western ideas have the potential to be just as intriguing to monitor as the actions of established Chinese companies.

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