x
Image Source: Pixabay
Where to store your crypto: Wallets provide diverse options for holders
Choosing a crypto wallet can be intimidating for newcomers. Which wallet is the easiest to use and the safest for storing digital assets?
Being in control of your own assets — having total freedom of how and to whom they are sent — is a foundational tenant of cryptocurrencies.
Today, over 10,000 cryptocurrencies exist on a multitude of blockchains. With the increased adoption and proliferation of digital assets, crypto users have more options than ever regarding how they store their assets.
However, there are trade-offs to consider: Hot wallets, those connected to the internet, are convenient for making frequent transactions but are more susceptible to hacks. Conversely, cold wallets are far more secure but more suited to storing crypto than actively using it. Read More
Cardano founder proposes Bitcoin Cash integration in X poll
The ayes are winning with 8,301 votes to 4,212 against at the time of publication.
Cardano founder Charles Hoskinson recently posted a “hypothetical poll” on the X social media platform asking the crypto community if they’d like to see a Cardano and Bitcoin Cash integration.
The poll received more than 12,000 votes in its first 24 hours, with a 66.3% early majority voting “Yes” to the proposal.
As mentioned above, Hoskinson labeled his poll as being hypothetical. However, as Elon Musk has shown since his purchase of the X platform, it’s possible to use the platform as a steering point for decision-making.
“Would you like to see Bitcoin Cash become a Cardano Partnerchain upgraded with Useful Proof of Work Leios, NiPoPoWs, and Ergo tech, thus being the fastest and most useful proof of work chain ever built?”
Ben Scherrey, founder and chief technology officer of blockchain firm Biggest Lab, posted commentary in favor of the move, stating that he’d “always thought there was some natural synergy between the two chains given the shared UTXO model that allows for high scalability and decentralization.” Read More
Bitcoin Wallet Maker Exodus Jumping Up to New York Stock Exchange
Exodus says it is the only U.S. company that will have its EXOD common stock tokenized on the blockchain.
Exodus Movement, the software developer behind the Exodus Wallet for Bitcoin, got the green light to list its common stock on the New York Stock Exchange, the company said on Monday.
The EXOD ticker on the NYSE comes as government regulators are stepping up enforcement actions against cryptocurrency projects and developers. While that's certainly a cause for concern, Exodus CEO and co-founder JP Richardson said EXOD was qualified by the U.S. Securities and Exchange Commission and can also trade on NYSE American, formerly known as the American Stock Exchange (AMEX).
“What's really cool about this is that our common stock is tokenized on the Algorand (ALGO) blockchain, and so we're the only company in the United States that has our common stock tokenized on the blockchain,” Richardson told Decrypt. “That's true today, and that will be true on Thursday as well.” Read More
Omnichain protocols offer the answer to blockchain fragmentation
Fragmentation is a major issue for the blockchain space, and this protocol offers a united platform for different networks to simplify cross-chain interactions.
Dojima is a cross-chain platform that unites numerous protocols with varying architecture and consensus mechanisms. It offers a universal layer where both Ethereum Virtual Machine (EVM) and non-EVM chains like Bitcoin can interact.
The platform focuses on creating an omnichain hub on which all kinds of blockchains — proof-of-work or proof-of-stake — coexist and seamlessly integrate them for both developers and users. By pooling assets and data from different chains, Dojima simplifies the development and deployment of complex cross-chain applications.
The omnichain layer-1 platform places robust infrastructure development at the center of its business and offers unique tools to foster adoption. The developer dashboard, named Magic Dashboard, includes templates for building a wide range of products, such as Ethereum-based ERC-20 tokens, nonfungible tokens (NFTs) and a deposit manager. Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all. 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
Bitcoin Runes Haven't Lived Up to the Hype? It's Still Too Early to Say
The immediate hype around Bitcoin Runes tokens has cooled off, but proponents believe this is a natural and expected lull.
Runes, the new fungible token standard on Bitcoin, had enthusiasts buzzing when it launched in April amid the quadrennial Bitcoin halving event. But less than a month later, the early impact appears less monumental than many Bitcoin backers expected.
The Runes launch indeed saw a flurry of immediate activity, with hundreds of token tickers launched within the halving block. But demand has decreased partially due to expectations, and amid a cooling crypto market that has seen broader price declines in recent weeks.
Data from Sat Screener indicates that six of the top 10 most-traded Runes have experienced a decline in trading volume over the past seven days, ranging from 20% to 57%. In terms of the number of Runes etched, data from Dune shows that etching has dropped significantly since the start of May—from thousands per day in late April to just hundreds daily of late. Read More
Is Kelp the key to a more stable future for crypto: AMA recap
Achieving long-term price stability in a volatile market is a constant challenge for crypto. Kelp offers a compelling answer with a blend of blockchain, on-chain data, and monetary theorem.
With traditional fiat currencies facing inflation concerns and the volatility of cryptocurrencies posing a challenge, Kelp offers a novel solution. CEO and co-founder Edward Bishop discussed Kelp's unique monetary policy-based approach during Cointelegraph's recent AMA.
"We're neither a traditional fiat-backed stablecoin nor an algorithmic coin, but rather a flatcoin," Bishop said, describing the essence of Kelp. "It's a hybrid of the two that adjusts its supply to inflation in the real economy and maintains its purchasing power over time. We use a monetary theory called the quantity theory of money. It is codified in our protocol, which monitors economic activity and predicts the ideal circulating supply to maintain price stability."
The Kelp Protocol, at the heart of the Kelp ecosystem, uses various economic indicators to understand market conditions. For example, if Kelp experiences rapid price increases, the protocol could adjust supply to reduce volatility. Read More
2 Bitcoin L2 Projects Secure Investments to Enhance Bitcoin’s Defi Capabilities
On May 7, two Bitcoin L2 initiatives successfully acquired funding to enhance the BTC ecosystem. The first, Botanix Labs, was established in 2022 with a vision to grow the Bitcoin-native decentralized finance (defi) ecosystem through its platform.
Botanix uniquely combines Bitcoin’s proof-of-work (PoW) consensus for strong security and decentralization with a proof-of-stake (PoS) scheme on its L2 Botanix EVM. Known as the Spiderchain, Botanix’s technology allows users to employ a distributed network of decentralized multi-signature wallets for securely storing BTC used as stake on the Botanix L2.
On Tuesday, Botanix Labs announced it had raised funds from multiple investors including Polychain Capital, Placeholder Capital, UTXO, Valor Equity Partners, and Curiosity Capital.
Additionally, on the same day, the L2 project named ZKM revealed it had garnered $5 million in an early-stage or pre-A funding round. ZKM is developing a technology based on its zkVM and Decentralized Sequencers to enhance Bitcoin functionality. 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.
