Blockchain : Vietnam To Ban The Import Of Bitcoin Mining Rigs

Blockchain : Vietnam To Ban The Import Of Bitcoin Mining Rigs

Vietnam used to be big on crypto mining rig import until recently. The reports claim that the Ho Chi Minh City’s (HCMC) Customs Department cleared over 7,000 BTC and LTC miners in the last year alone. Additionally, 190 mining rigs for Bitcoin and 350 of them for Litecoin were imported in Hanoi.

The trend continues in much the same way in 2018, with around 3,664 mining rigs imported from the beginning of the year to August 6th, according to another HCMC Customs Department’s report. Most of them seem to be coming from China. However, this situation started to change dramatically in July of this year, and the local news outlet recently announced that mining rigs import has almost completely ceased in the last month.

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What is the Blockchain?

A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.

Author: ARKholding

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