The Major Crypto Events of August

Photo - The Major Crypto Events of August
What does the last summer month have in store for crypto enthusiasts? When should you take a break from your vacation to ensure you're in the loop and not miss any important news from your favorite projects and the broader industry? Check out our August crypto events calendar!

August 2

Litecoin Halving 2023

On August 2 at 15:06:33 GMT, another Litecoin halving will take place, a periodic event that occurs every 840,000 blocks. 

Since the production of the network's genesis block in October 2011, this is the third halving, during which the reward for miners per block will reduce from 12.5 LTC to 6.25 LTC.

The countdown timer predicts the next Litecoin halving will occur on July 30, 2027, at 23:47:16 GMT.
World Blockchain Summit in Singapore

From August 2-3, Singapore will play host to the World Blockchain Summit β€” a convention that unites leaders of Web3, blockchain, and cryptography, investors, and technology aficionados from around the globe. It forms part of a global series of meetings taking place in over 19 cities worldwide.

Discussions will revolve around topics like investors' approach to digital assets, the role of women in decentralized technology, trends and challenges in DeFi, and the mass adoption of Web3 β€” these and many more insightful conversations await the participants of this key crypto event.

August 3

WB Network Launch

Crypto exchange WhiteBIT is officially rolling out its own blockchain, the WB Network.

Based on Geth (Go-Ethereum), the WB Network utilizes the consensus algorithm known as Proof-of-Authority (PoA). The launch event also signifies the transformation of the ecosystem's native token, the WhiteBIT Token, into a standalone cryptocurrency, the WhiteBIT Coin, hosted on its own L1 blockchain.

Once the WB Network goes live, all users who participated in the network testing phase will be rewarded for their contributions.
Sui Tokens Unlock

The Sui blockchain is set to unlock 34,620,000 SUI on August 3, an amount that comprises around 5.29% of the total tokens in circulation.

Significant token unlocks are closely monitored by traders, as their entry into the exchanges could exert downward pressure on the market price.

August 4

Update on the U.S. Unemployment Rate

Every month, the U.S. Department of Labor shares data on the unemployment rate, reflecting the portion of the total workforce that is jobless but has been actively seeking work over the past few months.

An elevated unemployment rate would signify labor market weakness, whereas a low rate would serve as a positive indicator and a bullish factor for the USD. 

So why is this pure macroeconomic indicator on the radar of cryptocurrency enthusiasts? All cryptocurrency quotes are denominated in USD. As such, any fluctuations in the dollar can directly influence the value of cryptocurrency.

In July, the U.S. unemployment rate was reported at 3.6%. Labor statisticians predict that this rate will maintain its level for the current month.

August 5

Tornado Cash (TORN) Tokens Unlock

On August 5, Tornado Cash, a decentralized, non-custodial protocol, will unlock 22,840 of its TORN tokens. This represents approximately 1.51% of the total circulating supply of tokens.

August 10

The U.S. Consumer Price Index (CPI) Update

The CPI, a key economic indicator released monthly, gauges the change in the cost of goods and services from the consumer's viewpoint. It provides insights into shifts in consumer purchasing behavior and inflation trends in the U.S.

The CPI is a metric used to track the fluctuations in prices of goods and services, serving as a crucial tool for monitoring changes in purchasing patterns and inflation levels in the United States. Figures higher than expected are viewed as a positive/bullish signal, while figures lower than expected are seen as negative/bearish.

August 16

Sustainable Blockchain Summit

The inaugural virtual Sustainable Blockchain Summit is slated for August 16th. Attendees include leaders from the Web3 space, traditional energy sector representatives, members of non-governmental organizations, and experts in greenhouse gas emission management. 

The primary aim of this summit is to explore how blockchain technology can contribute to a greener and more sustainable planetary future.

August 21

Bitcoin Infinity Day

August 21st holds a unique significance for Bitcoin followers. It can be symbolized as 8/21, where the number 8, when tilted, represents infinity, and 21 signifies the maximum number of Bitcoins (21 million). Thus, August 21st is often referred to as Bitcoin Infinity Day

This concept was conceived by Knut Svanholm, a philosopher, educator, and author of the books "Bitcoin: Sovereignty through Mathematics" and "Bitcoin: Everything Divided by 21 Million."

August 23

Segregated Witness (SegWit) Activation Day (a soft fork on Bitcoin)

On August 23, 2017, the Bitcoin protocol activated the SegWit patch to combat transaction malleability, a bug that allowed any user to modify minor details, leading to alterations in the transaction identifier and hash. 

Bitcoin Core developer Peter Wuille authored SegWit and initially proposed this idea at the Scaling Bitcoin conference in 2015. This solution not only fixed transaction malleability by eliminating signature information but also addressed the blockchain scalability issue.

August 24

Coinfest Asia in Bali, Indonesia

From August 24-25, the annual immersive festival Coinfest Asia will take place in Bali, bringing together representatives from Web2 and Web3. Unlike traditional conferences, this event offers a relaxed environment and an unconventional structure, providing attendees with an engaging festival experience filled with insightful information and networking opportunities.

Coinfest Asia invites a diverse group of participants, including crypto enthusiasts, project managers, developers, digital artists, marketers, venture analysts, and other industry representatives. Alongside the main festival, from August 23 until the end of the month, the organizers will host Coinfest Week, featuring daily themed meetings, competitions, and parties.

August 28

The Science of Blockchain Conference

The Science of Blockchain conference is set to occur at Stanford University from August 28-30, spotlighting technical innovations in the blockchain ecosystem. The event is co-organized by the Stanford Blockchain Research Center, the IC3 research project, and the Center for Responsible Decentralized Intelligence at the University of California, Berkeley. 

Participants at the Science of Blockchain will include researchers and practitioners involved in fields such as blockchain protocol development, cryptography, distributed systems, secure computing, crypto economics, and economic risk analysis.