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Various forms of Bitcoin custody, explained
Bitcoin is a decentralized cryptocurrency, the first of its kind, and is widely considered digital gold for its ability to store value. With industry expert predictions cheering Bitcoin prices to reach astronomical amounts, users and investors must prepare and execute a good custody plan.
Bitcoin (BTC) remains a hot topic of discussion with growing institutional interest and multiple spot BTC ETFs approved, allowing traditional investment firms to offer Bitcoin to their clients.
Users own Bitcoin or obtain exposure to this asset class in multiple ways, from investing in ETFs to holding them via centralized exchanges or exploring self-custody options either directly or via institutions or third parties.
Individuals need to choose the right custody solution that best suits their custodial risk appetite along with their investment and regulatory profile. They broadly have the following options when it comes to holding their Bitcoin: Read More
How long does it take to mine 1 Bitcoin?
Bitcoin mining is the network’s method of transaction validation. This process is also how new Bitcoin are added to the existing supply.
There are currently around 19.5 million Bitcoin in circulation, and the cryptocurrency is programmed to have a total supply of 21 million. The final 1.5 million or so are locked away, waiting for users with powerful computers to release them through Bitcoin mining.
Bitcoin mining is like a digital treasure hunt. Armed with powerful computer hardware, miners search for a 64-digit hexadecimal code that validates a block of transactions. This code (also called a hash) is found through a process called hashing.
Hashing requires computer hardware to sift through trillions of hashes to find one that matches a block’s difficulty (also called target hash). Once miners find a block’s target hash, they can verify its transactions are genuine and will issue a block confirmation. The network then releases more Bitcoin (BTC). Read More
Russian Traffic to Global Crypto Exchanges Surges; Central Bank Warns of Western Sanctions Risk
According to a recent study conducted by the Russian Central Bank, crypto trades by Russians on global exchange platforms surged during the last two quarters, prompting officials to issue warnings about increased risks for users. As detailed in a local report, visits to the websites of some of the largest crypto exchanges in this period exceeded 104.6 million, representing a 16.4% increase compared to the web traffic observed in Q2 and Q3 of 2023.
Additionally, the average monthly number of unique Russian users on major crypto exchanges rose by 15.1%. These users accounted for 7% of the total traffic on these platforms in the first quarter of 2024. However, this share is still below the peak of 9% reported in Q1 of 2023.
The report also highlights the potential risks faced by users as a result of increased crypto adoption. Specifically, if Western countries intensify pressure on digital asset issuers, Russian users may encounter additional challenges and uncertainties, Read More
Study: SRC20 Protocol’s ‘Unmatched Data Permanence’ Makes It a Superior Choice Over BRC20 and Runes
According to a study conducted by the consultancy firm Universelle, the SRC20 protocol stands out among other protocols running on the Bitcoin network due to its “unmatched data permanence.” The report adds that the protocol’s upcoming cost-reduction upgrade makes SRC20 a compelling choice for long-term projects and investments.
Regarding the user-friendliness of protocols on the Bitcoin network, the Universelle study claimed that the SRC20 protocol outperformed Runes and BRC20 because it does not require transfer inscriptions or splitting UTXOs. Concerning wallet support, the report noted that while both BRC20 and Runes have a higher level of infrastructure and wallet support, the SRC20 protocol is rapidly catching up. Read More
About The Markethive Wallet - What You Need To Know
Great news, Markethivers! The wallet is now installed on the Markethive platform. Markethive has kept its promise and delivered a complete working wallet. This mighty, robust, and secure wallet encompasses all aspects of facilitating your business and securing all your financials within Markethive, like earnings and payments, dividends paid from your ILPs, retail products, etc.
This is a significant step in the right direction for monetizing Markethive’s ecosystem as it endeavours to ensure and restore sovereignty and financial freedom increasingly being stripped from us by a global authoritarian regime. This article will illustrate what you need to know and do to access the now-operational wallet. Read More
Breaking barriers: A platform aims to overcome self-custody wallet challenges
A self-custody crypto wallet aims to address the challenges of making secure and anonymous transactions across multiple chains.
Addressing the challenges of self-custody crypto wallets, zkGUN provides secure and anonymous transactions across multiple chains, all within a single user-friendly app.
An analysis predicts that the crypto wallet market will reach $48.27 billion in revenue by 2030 — a massive jump from its current volume of $10.27 billion.
Despite the fact that it has potential, one of the biggest challenges facing crypto wallets is ensuring user privacy and autonomy. Self-custody wallets solve this problem by giving users full control over their assets and private keys, eliminating the need for intermediaries and reducing the risk of outside interference.
Self-custody wallets are not immune to criticism, though. The lack of more user-friendly interfaces and comprehensive features, along with some service providers’ tendency to share user data, are seen as the main obstacles hindering adoption. Read More
Ethereum Game 'The Sandbox' Launches DAO to Let Players Shape Its Future
The Sandbox DAO will progressively decentralize over time, and debut with a proposed annual budget of $11 million worth of SAND tokens.
The Sandbox, an Ethereum-based metaverse game platform, announced Tuesday that it has launched a DAO—or decentralized autonomous organization—to let token holders help shape the future of the game and its economy.
Users who own NFT-based LAND plots or hold the game’s SAND token will be able to propose and vote on governance decisions regarding gameplay upgrades and feature additions, future events and rewards initiatives, how “player status” will be determined based on asset ownership, and other potential aspects of The Sandbox universe.
"We believe a gaming open metaverse must be governed by all users: creators, players, and LAND owners, to make it timeless and push the boundaries of our community,” said The Sandbox co-founder and CEO Arthur Madrid, in a blog post. “Blockchain technology enables a full decentralized system of decisions and power to people.” Read More
How to create a memecoin on Solana?
Anyone can create a memecoin through Solana without too much hassle. The process simply requires a good idea.
A memecoin is a cryptocurrency with little intended value. Rather than providing financial utility, such as the Ethereum network’s capacity to host decentralized applications, a memecoin exists to capture a moment in popular culture. For example, Shiba Inu’s creator built it simply because the Shiba Inu dog breed is a popular meme.
Memecoins that become popular may eventually gain utility in the decentralized finance (DeFi) space. Many online stores now accept Dogecoin — one of the most popular memecoins — in exchange for goods and services. Coinbase Commerce, a payment processing service, began accepting DOGE in 2021.
While everyone invests for different reasons, users typically invest in memecoins because they start out at a low value or because the investor finds the meme funny. However, investors have fallen victim to memecoin pump-and-dump schemes, losing thousands of dollars in the process. It’s important that investors only invest what they can afford to lose. Read More
What is phishing-as-a-service (PhaaS) and how to defend against it?
Phishing is a prevalent hack that aims to trick people into disclosing private information, including credit card numbers, passwords and personal identities.
A staggering 300,497 phishing cases were reported to the United States Federal Bureau of Investigation in 2022 alone. These attacks resulted in victims losing over $52 million. Usually, it entails sending phony emails that seem authentic, duping recipients into opening harmful links or requesting sensitive information. Phishing-as-a-service (PhaaS) is an alarming development in the world of cybercrime.
With the use of a subscription-based web service called PhaaS, even non-technical criminals may easily execute complex phishing attacks. These firms offer pre-made phishing kits, editable templates and server infrastructure to create fake web pages.
A cybercriminal may, for instance, sign up for a PhaaS platform, create an email template that seems like it comes from a respectable crypto exchange, and distribute it to thousands of possible recipients. A link to a fake login page intended to steal users’ credentials might be included in the email.
Cybercriminals may swiftly launch extensive phishing campaigns with PhaaS, posing a greater threat to both individuals and enterprises. The accessibility of PhaaS reduces the entrance barrier for cybercrime, which is a major worry for internet consumers and cybersecurity experts globally. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
