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Challenger banks vs. crypto institutions: The battle for the future of finance
Will DeFi and crypto overthrow traditional banks, or is there a middle ground?
Over the years, the financial industry has undergone significant transformation as challenger banks and crypto institutions have emerged to challenge the traditional banking system (TradFi). According to data acquired by Finbold, downloads for selected six European mobile-only bank apps peaked at 26.3 million in 2022 for Android and iOS operating systems, representing year-over-year (YoY) growth of 54.09% from 2021’s figure of 17.06 million.
Similarly, the global cryptocurrency market cap has grown significantly over the past year, reaching a total market value of over $2.5 trillion in early 2022. As digital banking and crypto adoption gain more traction, the competition to shape the future of finance is intensifying. Thus, which will come out on top? Read More
Crypto Hardware Wallet Maker Ledger Raises $100M Amid Growing Demand for Secure Storage Solutions
The cryptocurrency hardware wallet manufacturer Ledger has raised €100 million ($109 million) in funding, according to the company’s disclosure on Thursday. Ledger CEO Pascal Gauthier says there has been significant demand for hardware wallets. He added, “2023 is even better for us because now you can’t even leave money at a Swiss bank.”
Ledger to Expand Distribution, Production, and Research and Development With New Funding Injection
According to a Thursday report by Bloomberg, Ledger, the cryptocurrency hardware wallet maker, has revealed it raised €100 million ($109 million) from investors. The capital raise comes at a time when crypto companies have been going insolvent and laying off significant portions of their workers. Ledger CEO Pascal Gauthier told Bloomberg’s Anna Irrera that the company will leverage the cash injection to expand distribution, production, and research and development. Read More
Crypto Exchange Bybit Partners With Innovation Growth Hub to Launch Blockchain Education Program
Bybit has said it is inviting African youths that wish to attend a blockchain education training program to submit their applications. The training and educational program is expected to help the participating individuals learn the fundamentals of blockchain technology.
Bybit, one of the world’s leading global crypto exchanges, has partnered with Innovation Growth Hub to launch a blockchain education and training program targeting African youths. The training program is expected to help young people learn and understand the fundamentals of blockchain, as well as how this creates new opportunities.
According to a local report, experts in the blockchain field are expected to lead or oversee the interactive discussions and online lectures. An unnamed spokesperson for Bybit is quoted in the report highlighting the importance of the training program.
“Our goal is to give young people the knowledge and skills they need to understand and engage with blockchain technology. Hence, we will work together with Innovation Growth Hub to create a unique learning experience for participants,” the spokesperson said. Read More
New Binance Smart Chain Proposal Seeks to Lower Transaction Fees: Report
The proposal is expected to make BSC more attractive than layer 2s.
Layer 2 scaling solutions have revolutionized the space with faster and cheaper transactions, as well as increased scalability and improved privacy and security.
In a bid to increase its competitiveness against rival blockchain networks, a proposal has been submitted that aims to adopt a lower transaction fee cost on Binance Smart Chain (BSC).
The proposal, submitted on March 28th, highlighted the need for a more adaptive transaction cost distribution on the BSC network with a more flexible transaction fee structure in a bid to ensure efficient block utilization and attract new users. It further stated that such an approach would help sustain the BNB economy while enhancing BSC’s position in the market, especially in the multichain strategy laid down in its roadmap.
According to the proposal, BSC’s high gas fees have impeded the network activity and claimed that the utilization of around 15-20% could aggravate if the gas fee is left unchecked.
“BSC transaction costs are currently set at a relatively high fixed rate of 5 gwei, which may not be as appealing to users as the more affordable fees provided by L2 solutions outside of the BSC ecosystem. This will ensure the existing and future BNB Chain L2 solutions remain competitive and keep attractive users in the ecosystem.” Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
MIT Space Force major proposes Bitcoin mining as a cybersecurity tool
An active-duty United States Space Force astronautical engineer is proposing a new cybersecurity tool to the Pentagon: Bitcoin.
An active-duty United States Space Force astronautical engineer is proposing a cybersecurity tool to the Pentagon that is capable of transforming the country’s national security and the base-layer architecture of the internet: Bitcoin.
In an academic thesis, Major Jason Lowery, who is also a national defence fellow at Massachusetts Institute of Technology (MIT), presented a new theory to the U.S. Department of Defense that Bitcoin is not just a peer-to-peer payment system but a new form of “digital-age warfare,” arguing that proof-of-work technologies will change the way humans compete globally, according to Ben Schreckinger’s review of the book in Politico.
Published in February, Lowery’s master’s degree thesis dubbed “Softwar” sits in third position on Amazon’s list of best-selling technology books at the time of writing. According to his Amazon bio, Lowery has a decade of experience serving as a weapon system developer and technical adviser for U.S. senior officials, including Bitcoin-related policies.
Lowery’s research argues that the U.S. military could use Bitcoin to stop certain types of attacks, such as denial-of-service attacks, which overload servers with too many requests. The concept involves creating software programs that only respond to signals from large transactions recorded on the Bitcoin network. This would make it harder for attackers to flood servers with fake signals and cause damage. Read More
Uniswap v3 code free to fork as BSL expires
The license expiration marks a significant event within the DeFi ecosystem, enabling developers to deploy their own decentralized exchange.
Developers are now allowed to fork Uniswap v3 protocol as its Business Source License (BSL) expired on April 1, shows protocol documentation. The expiration was a much-anticipated event within the decentralized finance (DeFi) ecosystem, enabling developers to deploy their own decentralized exchange (DEX).
The BSL license lasts for a limited period before becoming completely open source. The purpose is to protect the author’s right to profit from their creations. Uniswap v3’s license was released in 2021 for two years, preventing its code from commercial use. A new license called a “General Public License” now applies to the protocol.
To fork the code, developers will be required to use an “Additional Use Grant” — a production exemption meant to accommodate both the needs of open-source and commercial developers.
Uniswap is a widely utilized decentralized exchange — considered the biggest automated market maker in the DeFi space — providing a platform where token creators, traders and liquidity providers swap tokens. Its native Uniswap token is a popular way for investors to gain exposure to the DeFi market. Read More
Huobi partners with Gala Games for web3 gaming integration
Huobi Global, a cryptocurrency exchange, has declared a strategic partnership with Gala Games, a blockchain-based play-to-earn gaming platform.
Cryptocurrency exchange Huobi Global has entered into a strategic partnership with blockchain-based gaming platform Gala Games.
Founded in China, the now Seychelles-based exchange said the partnership will enable both companies to develop for the Web3 ecosystem.
Huobi and Gala plan to invest in and list projects on Gala’s platform.
Gala Games is a play-to-earn blockchain gaming platform that lets developers create games where players earn crypto or utilise non-fungible tokens (NFTs) to buy and sell in-game items.
Unlike traditional games, once purchased these items belong to the player, not the game’s creator, and cannot be modified or removed without the player’s permission.
Huobi is looking to advance its Web3 objectives through the partnership. Integrating its services with Gala’s layer-1 blockchain will improve the gaming platform’s underlying technology. Read More
Bitcoin ‘untouchable’ amid regulatory pressures, says analyst
Bitcoin is “untouchable” because it’s more decentralized than other cryptocurrencies in the space, such as Ether, according to senior commodity strategist Mike McGlone.
Bitcoin (BTC) is “untouchable” despite ongoing regulatory pressures in the crypto sector, and those who don’t have some crypto exposure are “seriously silly” according to Bloomberg senior commodity strategist Mike McGlone.
During an April 3 stream with crypto podcaster Scott Melker, McGlone argued that, unlike other cryptocurrencies such as Ether, Bitcoin couldn’t be killed by regulators because it’s more decentralized.
"There’s so much disdain about regulators pushing back on the whole space, and that’s the key thing where Bitcoin sticks out,” McGlone said.
“You can’t do anything to this, and you can’t kill it and it’s just unprecedented; it is untouchable.”
“You could make a case that Ethereum is a security when you hear about all these upgrades and people doing this and people doing that to make it better, I’m like okay, well that’s kind of scary, can’t do that to Bitcoin, it’s why it’s fine and impressive,” McGlone added. 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.
