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Indians Are Buying Crypto While They Can
With the equivalent of $6.6 billion being invested in the crypto market as of May this year, the potential for further buying by India’s 1.39 billion population is quite staggering. Despite the generally negative stance on cryptocurrencies by the Indian government, the popularity and growth of the crypto ecosystem continues to increase unabated.
According to an article released today on the business-orientated internet platform Quartz India, “Indian investors are flocking to cryptocurrencies like never before”. The article reports that India ranks 11 in the world as regards cryptocurrency adoption. Read More
Analyst Runs Down All The “Coordinated Attacks” On Crypto
The crypto analyst going by “@CroissantEth” on Twitter has spoken at length about all the seemingly coordinated strikes on Bitcoin, which has dragged the crypto market severely.
The “China & Crypto” Tragicomedy. In April, when the flooded coal mine in Xinjiang damaged miners in the area, it resulted in a 35% hash rate drop of Bitcoin and brought up serious concerns about mining centralization.
In May, along with banning Bitcoin mining, China stopped crypto-related transactions in all financial payment institutions. Plus, the CCP (Chinese Communist Party) continued its anti-crypto rally through state-run media outlets that warn citizens about the dangers of crypto markets. This led to a drastic 20% drop in Bitcoin prices. FUD, FUD, And More FUD. Read More
An even bigger mining difficulty drop? 5 things to watch in Bitcoin this week
Bitcoin may be fresh from its biggest difficulty plunge ever, but estimates warn that the next may eclipse even that as miners continue to struggle.
Cointelegraph considers five factors at play when it comes to BTC/USD this week. Read More
Credential-focused blockchain is moving mainnet to proof-of-stake
A blockchain platform that allows businesses and developers to issue and manage verifiable credentials has announced that it is transitioning to a proof-of-stake algorithm.
Dock says the switch to PoS will further decentralize its network — increasing the number of validators involved in securing its infrastructure and enhancing governance measures.
Until now, the project’s blockchain has been based on a proof-of-authority algorithm, where validators were selected by the Dock Association, a nonprofit organization.
The move to PoS means that validators will now be chosen by the network based on how many Dock tokens have been locked up to back their candidacy. Candidates will be able to stake their own tokens, and other token holders will also be able to support their nomination. They will subsequently be rewarded if the candidate is selected to start producing blocks. Read More
Wyoming legally recognizes first DAO in the United States
The crypto-friendly state of Wyoming has approved the first legally recognized Decentralized Autonomous Organization (DAO) in the United States.
The American CryptoFed DAO received notice from the Wyoming Secretary of State's office on July 1 recognizing it as a legal entity, according to a July 4 announcement.
Marian Orr, CEO of the American CryptoFed DAO, stated:
“Wyoming is the leading digital assets jurisdiction in the USA, and now with this DAO law, Wyoming is arguably the top blockchain jurisdiction in the world. What this means is that creating a true digital currency with mass acceptance is now possible.” Read More
NFTs make it possible for gamers to have digital property rights
The digital ownership conferred by blockchain will allow the Metaverse to fulfill its true potential as community-owned and community-governed.
Valued at over $170 billion and growing, the global gaming industry is priced higher than movies and music combined. There is much at stake for game publishers that feel they need strict controls on games in order to protect their profits. Read More
MARKETHIVE AIRDROPS AND MICROPAYMENTS EXPLAINED
Markethive’s Hivecoin will not depend on speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive. This is a fundamental difference from the other systems currently out there today. The Markethive system has been developed to produce revenue in the traditional sense, with the added benefits of the blockchain taking it to the next level.
The Faucet system is a reward system similar to the Hive Rank but earns you coins for your activities. As I mentioned earlier, the first Faucet invented was the Bitcoin faucet launched by Gavin Andresen, one of the earliest Bitcoin developers, in June 2010. At that time, Bitcoin was about 8 cents. It gave out five Bitcoins a day until 2011 when it ran out of coins. Read More
Coinbase Has Hired an Army of Support Staff to Keep Customers Happy
Coinbase has addressed its checkered history of customer service complaints in a new blog post.
There has been a 5x increase in the number of Coinbase support staff since January.
Customer contact rate has been reduced by 70%.
More live help features are expected in the coming months. Read More
EY Takes Crack At Ethereum’s Gas Fee Problem With New Protocol
EY releases Nightfall 3 to help make the Ethereum blockchain cheaper to use.
Nightfall 3 is the new iteration of the original Nightfall protocol, released in 2019.
The protocol combines zero-knowledge proofs (ZKP) with Optimistic rollup.
Ethereum’s scalability bottleneck can lead to extremely high transaction fees in times of high demand. Read More
Bitcoin Mining Report Claims Miner Energy Consumption Mix 56% Sustainable in Q2
During the last three months, there’s been a significant focus on the effects bitcoin mining has on the global environment.
While many have claimed bitcoin mining is bad for the environment and many others have stressed that it affects the environment in a positive way, either way, most are relying on unreliable and old data from a few years ago. On July 1, 2021, the recently formed Bitcoin Mining Council published a report that claims 56% of the hashrate uses sustainable energy resources. Read More
Japan’s SoftBank leads $200 million investment in Brazil’s Mercado Bitcoin
Roberto Dagnoni, the CEO and executive chairman of 2TM Group, the parent company of Mercado Bitcoin, revealed that the cryptocurrency exchange plans to utilize the funds to ramp up its business activities, improve its crypto offerings, and make an investment in infrastructure, so that meet the increasing demand for cryptocurrency services in Brazil.
The investment is considered the largest raised through a Series B funding round in Latin America’s history and SoftBank’s largest investment in a crypto firm in Latin America. The 2TM group stated that its valuation hit $2.1 billion as a result of that investment. Read More
This Is How DAOs Are Taking A Greater Role in the DeFi and NFT Sectors
DAOs are built into the fabric of the crypto industry and considered vital in the decision-making process for projects.
DAOs will become more complex and multifunctional.
One obstacle on the route to greater adoption of DAOs may be regulation.
Decentralized autonomous organizations (DAOs) have been operating under the radar for a while now. Amid all the excitement over bull markets, DeFi and NFTs, DAOs have found themselves being neglected, despite the fact that they’re coming to play an increasing role within the crypto ecosystem. Read More
Elrond to Launch Gold and Silver Backed DeFi
High-throughput blockchain platform Elrond is delving deeper into decentralized finance with its latest offering which will tokenize precious metals.
Elrond has gone into partnership with U.K. fintech firm Aurus that facilitates the tokenization of precious metals and commodities.
Three tokens for gold, silver, and platinum — AWG, AWS, and AWP — will be issued on the Elrond blockchain as ESDT tokens. The trio of commodity-based tokens will be backed by one gram of the respective precious metal, according to an announcement, which 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 other advice.
