Future Blockchain Summit is the leading blockchain exhibition and MENA region's most immersive large-scale blockchain event. Capitalizing on Dubai's status as a global Web3 hub, the event will unite the entire blockchain and crypto ecosystem and provide a leading platform to foster collaboration and chart the way forward for the blockchain movement.

More than 900 investors, 150 exhibitors and 200 speakers from more than 50 countries will gather to chart the way forward and inspire industry-wide transformation. The sixth edition in 2023 attracted more than 58,000 visitors to Dubai harbor and cemented its position as a leading international blockchain event.

Powered by GITEX Global, Future Blockchain Summit 2024 will unite the global community at the iconic Dubai Harbour, from 13-16 October. It is taking place alongside Fintech Surge – premier gathering of global fintech leaders, Expand North Star – world’s largest start up event and GITEX Impact – Region’s largest sustainability event.

Over four days at the Future Blockchain Summit, industry leaders will leverage countless networking opportunities, gain insights from a power-packed agenda, pitch for growth funding in the Supernova Challenge as well as the Investors Program & Forum, become experts in Academic Masterclasses, and join the action in a path breaking innovation. 

Website: <https://www.futureblockchainsummit.com/>

Organiser Event: Dubai World Trade Centre

* For Sales and Sponsorship enquiries, Contact Natalia Carvalho at [Natalia.carvalho@dwtc.com](mailto:Natalia.carvalho@dwtc.com) 
* For Media Partnership enquiries, Contact Surabhi Saxena at  [Surabhi.saxena@dwtc.com](mailto:Surabhi.saxena@dwtc.com) or call on +971 4 308 6808
* For Speaking opportunities, Contact Vishnu Gopaldas at [vishnu.gopaldas@dwtc.com](mailto:vishnu.gopaldas@dwtc.com) or call on +9714 306 4056

Social Links:

* Website - <http://www.futureblockchainsummit.com/>
* Instagram - <https://www.instagram.com/futureblockchainsummit/>
* Facebook - <https://www.facebook.com/FutureBlockchainSummit/>
* Twitter - <https://twitter.com/dxbontheblock>
* YouTube - <https://www.youtube.com/@FutureBlockchainSummit>
* LinkedIn - <https://www.linkedin.com/showcase/future-blockchain-summit1/>
* Threads – <https://www.threads.net/@futureblockchainsummit>
* Tiktok - <https://www.tiktok.com/@futureblockchainsummit/>
* RSS - <https://rss.com/podcasts/fintech-surge/>

Ready to put your company in front of the big players in the Blockchain world?  Look no further than the Future Blockchain Summit!

Future Blockchain Summit 2024: FUELLING THE WEB3.0 REVOLUTION

Coinfest Asia, the biggest Web3 festival in Asia, returns on 22-23 August 2024 for its third edition. Coinfest Asia will present many exciting activities in Nuanu City, Tabanan, Bali.

Nuanu City is a sprawling complex with 17 immersive areas and 1 charming beach club directly connected to the beach. Nuanu is designed as a location where all areas are integrated and easy to reach. Each area in Nuanu City used by Coinfest Asia is designed to provide an immersive experience that strengthens interactions and connections between the thousands of participants in attendance.

It is projected that Coinfest Asia 2024 will have 6,000 participants from various countries. This event will also feature 150 Web3 industry figures and various well-known brands from the Web3 ecosystem.

Carrying the slogan “Where Innovation Meets Adoption,” Coinfest Asia offers an opportunity for the industry to expand its ecosystem in the crypto-friendly Asia region and for retail investors to discover quality Web3 projects.

## Series of Activities at Coinfest Asia 2024

In its third edition, Coinfest Asia 2024 presents the ETH SEA Hackathon, designed to encourage innovation and provide a platform for developers to showcase their skills and creativity in Web3 technologies.

“We are holding this ETH SEA Hackathon to promote innovation and showcase developer skills in Web3 technology. This event encourages collaboration, pushes the boundaries of blockchain technology, and gives birth to innovation, which ultimately increases adoption," said Felita Setiawan, Director of Indonesia Crypto Network, the parent company of Coinfest Asia.

ETH SEA has opened registration, which will run from July 1 to July 20, 2024. The hackathon is supported by Lisk, Manta, Haqq, and Aptos, with a total prize pool of US$50,000.

In addition to the ETH SEA, Coinfest Asia will host a variety of exciting activities across 17 different areas, including the Main Venue, Main Stage, Alpha Stage, Breakout Area, Exhibition Area, Title Area, Bull Cave, Gaming Area, Gelato Cave, Food Station, Community Grounds, Community Village, Startup Village, Warehouse After Party, Builders Hut - ETH SEA, Amphitheater, and Beach House.

Moreover, Coinfest Asia 2024 will present dozens of supporting events, including the Indonesian Blockchain Conference organized by the Indonesian Blockchain Association.

## Coinfest Asia Presents More than 150 Speakers

Notable speakers at Coinfest Asia 2024 include Zhu Su (Advisor at OX FUN), Wei Zhou (CEO of Coins.ph), Gracy Chen (CEO of Bitget), Miguel Moorcraft (Chief Staff of Star Atlas), Oleg Fomenko (Co-founder of Sweat Economy), Dan Anthony (Head of Growth at Pendle), Yoann Franck Turpin (Co-founder of Wintermute), Mokas (BONK), Yudhono Rawis (CEO of Tokocrypto), Jeth Soetoyo (CEO of PINTU), Oscar Darmawan (CEO of Indodax), Brenda (Web3 Educator),  Angga Andinata (CEO of Belajarbitcoin.com), and many more. 

Coinfest Asia 2024 is supported by Aptos, Google Cloud, Ripple, Tokocrypto, Triv, Cloudmile, Nettensor, Bitget, Bitwyre, Pintu, Polkadot, Mandala Chain, CFX, OKX, and many more. Opportunities to become a sponsor are still open; please visit the [Coinfest Asia sponsor page](https://coinfest.asia/get-involved/sponsorship).

Currently, Coinfest Asia tickets can be purchased via the Coinfest Asia website, so what are you waiting for? Buy [Coinfest Asia tickets now!](https://coinfest.asia/)

## About Coinfest Asia

Coinfest Asia is an annual crypto, Web3, and blockchain festival organized by Coinvestasi. Every year, Coinfest Asia is packaged with a unique theme adapted to the latest developments in Web3 technology.

## About Coinvestasi

Founded in 2017, [Coinvestasi](https://coinvestasi.com/) provides daily informative and creative content for crypto and blockchain enthusiasts in Indonesia on Coinvestasi.com, YouTube, Instagram, and daily discussions on Twitter, Telegram, and its Discord community. Coinvestasi is part of the Indonesian Crypto Network (ICN) media group.

Join Asia's biggest Web3 festival on August 22-23 in beautiful Bali! 

Coinfest Asia 2024: Dive into Web3 Innovation Across 17 Immersive Areas

### I﻿ntroduction

The landscape of cryptocurrency mining has drastically changed and the following article reflects on the current state of mining, challenges that come with it, and its future prospects.

### The Dawn of Cryptocurrency Mining

When Bitcoin launched in 2009, thanks to the mysterious Satoshi Nakamoto, anyone could become a miner. Using simple hardware and software, amateur miners could bring in colossal rewards—up to 50 Bitcoins a day—with very little effort. Easy access to the mining process attracted a flock of hobbyists and speculators seeking financial gain from the new fad of digital money.

However, it changed when Bitcoin had become more popular. The ease at the beginning increased competition that put pressure on miners to invest in more powerful hardware and consume electricity in great amounts. The question now is whether mining is still a viable enterprise in 2024.

### The Evolution of Mining Techniques

#### Early Days: CPU Mining

At the beginning, mining was done by CPUs. CPU mining is a rather inexpensive and simple process, which initially allowed anyone with a desktop computer to mine. As more miners joined the network, though, the mining increased, spurring a search for faster methods.

Miners began to use graphics processing units. They could afford parallel processing, which was of utmost importance in mining with the calculations involved. The more this computational power increased, the more it put miners on an equal footing to compete in mining; this also meant an increase in the consumption of energy and then an increase in costs.

#### Specialized Hardware: ASICs

Such machines had been designed for mining cryptocurrencies and, therefore, were offering unprecedented speeds and efficiency, unreachable even by the likes of GPUs. Actually, by 2012 ASICs made the mining of Bitcoin roughly 1,000 times faster compared to the earlier standards. At the same time, this increased specialization was about limiting entry into the mining’ cost-effective business.

### The Current State of Mining in 2024

Fast forward to 2024, the mining landscape has greatly changed. Such events as halving - cutting miner rewards by half every four years, the increase in energy costs, the Mining business is getting increasingly unprofitable for many. The competition is much stronger than ever; large mining farms dominate this arena.

#### Economic Challenges

Today, one of the major problems that miners face is the high cost of electricity. As energy costs have continued to rise, profit margins for mining have tightened considerably. Today, a miner needs to find cheaper regions in order to have decent profitability given the high increase. This might therefore lead to the shifting in the geographical locations of countries where mining takes place to countries that have more advantageous energy costs.

#### Environmental Concerns

Moreover, ecological influences have also become a point of controversy. Critics contend that the enormous consumption of energy for PoW mining is not sustainable. Several governments have imposed regulations and taxes on mining, thereby making life more complicated for miners. Due to these factors, a lot of blockchain networks are gradually shifting their consensus mechanisms to more energy-friendly ones such as PoS.

### Opportunities and Innovations in the Future of Mining

Yet, mining is not dead despite these difficulties; on the contrary, it is just undergoing one of those transformations that may give a way to new opportunities.

#### Mining Pools

Mining pools consist of a group of miners who put their resources together so as to increase their rewards by including all of them in the process. When a pool mines a block successfully, rewards are shared among all of its members based on their contributed computational power. This approach reduces not only the risks but also lets even small miners remain competitive.

#### Cloud Mining

Another innovative solution is cloud mining, enabling users to rent mining power from remote data centers. Understandably, the need for high-value hardware and accompanying maintenance costs is removed. In return, users pay for mining resources and their share of profit in such projects, which turns this model into an attractive option for those who want to enter the mining space without substantial upfront investments.

#### Alternative Cryptocurrencies

In addition, there are other cryptocurrencies that one can mine more profitably. Cryptocurrencies like Litecoin (LTC), Zcash (ZEC), and Dogecoin (DOGE) also offer chances for the miner at least in the current market environment where Bitcoin mining has become so expensive to operate profitably in many cases.

### Renewable Energy Solutions

While the environmental sustainability is also a growing concern, many miners are looking toward renewable sources of energy. Solar, wind, and hydroelectric power provide cleaner alternatives which tend to be much cheaper to operate. Some mining operations even set up in locations where they can harness these renewable resources effectively.

### Technology Innovation

Ongoing technological changes also have much potential to change mining's face completely. Improving hardware efficiency, advanced cooling systems, and energy management software might enable miners to further streamline operations. It will be crucial for miners to keep up with these changes if they hope to stay competitive in a rapidly shifting market.

### Conclusion

The intersection of renewable energies and technology could mean new, more sustainable ways to develop mining-even more profitable ones. Mining might not be as accessible today as it once was, but the opportunity is still there for those willing to bring strategic insight to the industry. Success in this fast-changing industry will depend on resiliency, adaptability, and awareness of new trends and technologies.

The question now is, will you seize this opportunity, or will it pass you by? The choice is yours, but one thing is for sure-the journey is far from over.

What do you think: Is small-scale mining still viable in 2024? Or is it just for the big players now? 

Mining in 2024: Opportunities, Innovations, and Challenges Ahead

[Coinfest Asia 2024](https://coinfest.asia/) was successfully held in Nuanu City, Bali, on August 22-23, 2024. As the largest crypto and Web3 festival in Asia, the event attracted over 6,000 participants from various countries, marking a pivotal moment for the Web3 industry in the region.

Kasan, Head of the Commodity Futures Trading Regulatory Agency (BAPPEBTI), underscored the significance of Coinfest Asia as a leading platform for crypto asset industry stakeholders to exchange knowledge, collaborate, and foster innovation.

"Coinfest Asia serves as a crucial platform for industry players to share insights, collaborate, and explore innovations in blockchain and Web3 technologies, all of which are vital to strengthening the national crypto asset sector," Kasan stated.

Now in its third edition, Coinfest Asia has experienced impressive growth, with a 50% increase in annual participants—from 2,000 attendees in its inaugural year in 2022 to 4,000 in 2023, and surpassing 6,000 in 2024.

According to Felita Setiawan, the notable growth this year was driven by the increasingly favorable conditions within the Web3 and crypto industries.

“This year, the market conditions are significantly more positive, and participant engagement has been markedly higher. We introduced more interactive panel sessions, enabling direct interaction between attendees and speakers. Additionally, the event was designed to be more immersive, incorporating activities tailored to various audiences, including gamers and developers,” remarked Felita Setiawan.

With the theme "Where Innovation Meets Adoption," Coinfest Asia 2024 successfully brought together over 150 global experts in crypto and Web3, hosted 100 panel discussions, 100 side events, and facilitated the formation of more than 25,000 meaningful connections, fostering business opportunities and innovation.

The event also provided a unique opportunity for global Web3 companies to assess Indonesia's potential within the global Web3 landscape. Companies such as Internet Computer, Manta, and Pendle expressed admiration for the enthusiasm and rapid growth of Indonesia’s Web3 ecosystem.

Dominic Williams, Founder & Chief Scientist at DFINITY Foundation (Internet Computer), commented, "The caliber of Indonesian developers is among the highest globally—this was an unexpected discovery. We are extremely optimistic about Indonesia."

Victor Ji, Co-Founder of Manta, shared his perspective: "I am very optimistic about the community here. They are deeply invested in the user experience and the products they build."

Anthony, Head of Growth at Pendle, echoed this sentiment, adding, "The growth of Web3 in Indonesia is clearly evident, reflected by the vibrant energy I witnessed at Coinfest."

## Coinfest Asia Goals and Vision for the 2025 

2025 is anticipated to be a transformative year for the crypto industry, particularly in Indonesia. Beginning in January 2025, the Financial Services Authority (OJK) will assume regulatory oversight of the crypto industry from BAPPEBTI, a shift expected to foster a more conducive and stable environment for the crypto and Web3 sectors.

As the adoption of blockchain and crypto technology continues to accelerate globally, Coinfest Asia 2025 will return with a focus on addressing critical industry challenges, including advancements in Real World Assets (RWA), Digital Identity, AI in blockchain, and navigating increasingly complex regulatory landscapes. Additionally, Coinfest Asia 2025 will serve as a stage for significant announcements from leading crypto projects, poised to drive substantial industry developments.

Felita Setiawan remarked, “Coinfest Asia 2025 aims not only to double this year’s participation but also to elevate the event to new heights. We intend to introduce enhanced interactive experiences, welcome more global industry leaders, and expand networking opportunities to accommodate the growing demand for and relevance of Web3 technologies in Asia.”

## About Coinfest Asia

Coinfest Asia is the largest global festival dedicated to crypto and Web3, uniting industry leaders, innovators, and communities to engage, learn, and collaborate on shaping the future of Web3 technologies. Held annually in Bali, Coinfest Asia continues to serve as the premier platform for expanding the industry's reach and strengthening its ecosystem within the region.

Coinfest Asia 2024 was proudly supported by over 60 sponsors, including Polkadot, Mandala Chain, Coinstore, OKEx Wallet, CoinTech2u, CFX, Aptos, Haqq, Google Cloud, Ripple, Indodax, Tokocrypto, Pintu, Triv, Cloudmile, MEEET, Staynex, W3GG, BRI Bank, Bitget, and many more.

Read more about this incredible conference!

Coinfest Asia 2024 Surpasses Records, Aims Higher for 2025

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