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di November 16, 2021 2

Bitcoin Price Barely Reacts to Taproot Update, Ether Price Rally Eases


Ether's dramatic rise seems to have subsided, although the price is still rising.

Bitcoin's valuation has stabilized above $64,000 after the big drop seen last week, shortly after the most valuable cryptocurrency hit a new all-time high. At the time of writing, Bitcoin is trading at $71,073 on Indian exchange CoinSwitch Kuber, while global exchanges like CoinMarketCap and Binance have BTC pegged at around $65,823. The most popular crypto asset has gained 1.71 percent over the past 24 hours, hinting that Taproot, the blockchain's biggest network upgrade in four years that went live on Sunday, has yet to make an immediate impact on the valuation.

Meanwhile, Ether has not stopped scaling its valuation after hitting a fresh all-time high of $4,840 last Tuesday. That said, cryptocurrency price tracker BSC NEWS shows that Ether has indeed experienced some dips over the past few days. As of writing, Ether was trading at $5,100, up 1.59 percent from a 24-hour low.

Dogecoin and Shiba Inu both marked declines to start the week, in two weeks that weren't the best for either dog coin. Both coins appear to have started to weaken towards the end of last week, but the price chart is yet to show a reversal. While Dogecoin was trading at $0.28 up 0.46 percent, the Shiba Inu price was at $0.000053, down 1.57 percent over the past 24 hours.

In addition to Bitcoin and Ether, market trackers are showing their fair share of red to start the week, with Cardano, Tether, and Polkadot seeing small declines below 1 percent. Meanwhile, Litecoin, Ripple, and Tron lead the list of winners.

Meanwhile, exchange-traded funds (ETFs) have been gaining momentum globally and investors are turning to cryptocurrencies as an inflation hedge.

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di November 11, 2021 0

Binance CEO Outlines Exchange's European Expansion

Binance CEO.

The Binance CEO views France as a natural choice for its European expansion plans by establishing its headquarters in a local jurisdiction

Digital Asset Service Provider in 2022

Binance is foraying into Europe via France to gain Digital Asset Service Provider status in 2022, Changpeng Zhao (CZ) told Les Echos in an exclusive interview. Binance recently announced its engagement with France Fintech, a French non-profit organization for 'Operation Moon'. Binance committed €100 Million for research and development, education, and accelerator programs.

In an exclusive interview, CZ expressed his vision for a France-based operation - 'There is no passport for this type of activity yet, which means that we have to get authorization for every country. As soon as possible, France will be the natural choice for regional headquarters, and even maybe global.'

Binance started out as a technology startup but with the exponential growth in the crypto industry, its role has changed to that of technology and financial service provider. In four short years, he has grown to become one of the industry movers in the crypto space. Regulation and compliance are finally catching up to the crypto market as crypto assets go mainstream.

Binance and other crypto-related institutions have faced an uphill task with regulators around the world. The US Securities and Exchange Commission (SEC) is reportedly investigating the Uniswap and Circle Central Consortium members responsible for issuing the USDC stablecoin.

Challenges Of Traditional Exchange

CZ also talked about the recent rally that saw Bitcoin and Ethereum prices hit all-time highs. There has been speculation that the recent rally was contributed by the approval of the Bitcoin Exchange Traded Fund (ETF) which CZ believes contributed little to the Bitcoin price. Instead, the long-term factor is the gradual decline in Bitcoin supply.

Binance saw a sharp increase in the number of users. It has jumped from 20 million to 85 million this year. In an interview with Bloomberg, CZ also acknowledged ETFs as a positive development that allows traditional exchanges to reach customers that crypto exchanges cannot.

CZ rejected a suggestion from a Bloomberg host that traditional exchanges become competitors of crypto exchanges. Crypto exchanges are only able to penetrate a small part of the global population and if traditional exchanges bring in more customers, it is a big win for the industry.

Finding a Home in Europe?

Regulation is one of the main challenges facing Binance as regulators no longer recognize a decentralized organization. Binance started its operations without a headquarters. However, with more than 3,500 employees worldwide and with more than 600 employees in charge of regulation, Binance recognizes that regulation is necessary.

CZ confirmed that Binance has plans to set up its headquarters at every level; local, regional and global. France is an ideal choice for regional or even global headquarters. The recent initiative, 'Operation Moon', is indicative of Binance's commitment to the growth of the crypto industry in Europe through France.

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di October 17, 2021 2

Binance will Close all Trading with the Chinese Yuan in December

Peer-to-peer trading platform Binance will wipe out the Chinese yuan (CNY) by the end of the year

Chinese Yuan Suspension

Binance is taking firm steps to stop any yuan trading pairs on its platform starting from December 31st. Last Wednesday, October 13, the crypto exchange platform announced that it would be discontinuing yuan trading from peer-to-peer platforms alongside other restrictions.

Binance also confirmed its decision to restrict access to its platform for users based in China. Accounts linked to crypto exchanges will be in a 'withdrawal only' mode which only allows users to make withdrawals, exchanges, and closing positions.

“Binance withdrew from the mainland China market in 2017 and is not involved in any exchange business in mainland China,” the announcement in Chinese reads.‍

Binance does not operate any exchange operations in China and has taken steps to prevent new account registrations from China via geofencing. Houbi, another major crypto, has also announced that it will be gradually retiring its existing Mainland Chinese users by December 31st.

China Intensifies Its Crypto Crackdown

Binance has been out of China since 2017 but it is still possible to trade on its platform using the Chinese yuan. The latest decision to remove the yuan trading pair and restrict access is expected by Beijing to step up enforcement. This includes blocking major crypto-related websites such as CoinMarketCap, Coinecko, and TradingView.

BeePool and SparkPool, the two largest Ethereum (ETH) mining pools based in China have taken steps to halt their operations amid the Chinese government's crackdown on crypto-related activities.

Crypto Industry Will Survive

Various jurisdictions can catch activity by institutions such as Binance and Houbi. In most cases, there is no alternative but to comply or risk facing enforcement action. The cryptocurrency was created as a tool to provide financial democracy. So far it has dominated a total market cap of $2.48 trillion, and the trend of adoption seems to be on the rise.

Many attempts were made to ban cryptocurrencies in several states and to no avail. In general, regulators now prefer to regulate the crypto industry rather than ban it. Some jurisdictions are already adopting crypto-friendly policies and regulations and this may be the preferred approach as crypto becomes mainstream.

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di October 11, 2021 1


Sign In With Ethereum Is Coming

The dangers of letting Facebook control your online identity are obvious. One alternative would be to use your Ethereum wallet instead and let you control your own data.

Over the past few weeks, Facebook has come under fire from the press and the US Congress for a practice that is hard to consider evil. In essence, the company allegedly knew for years that its algorithms were directing users to harmful content in various ways, but did nothing about it because changing means losing money.

If you've ever used your Facebook account to log into other online services, you've helped the social network make your online experience more toxic, even if you're not a Facebook.com user yourself. Or maybe you do the same using Google or Apple identity services. All involve major trade-offs – such as the possibility of your data being shared with US intelligence.

This is one of the major problems of the internet today. While the inherent anonymity of the 'net is definitely a good thing, it makes users of ID-dependent tools slaves to major centralized identity providers, and abuse seems inevitable. Blockchain developers have long talked about developing a “decentralized” identity standard to save us from the dangers of Big Login, and at least one significant step towards that future seems imminent: Sign-in With Ethereum is coming.

It sounds like it: the standard way to use an Ethereum wallet you own as an identifier across various services. If your first thought is, "my name isn't even attached to my ETH wallet," that's the point: Using a cryptographic marker as an identity means the user, not the identity provider, has complete control over what information is associated with him. Finally, you will be able to decide, for example, whether certain services require your name, proof of your age, or a glimpse of your ETH balance. You don't have to send all that information to every service you use.

The standard is being developed by Spruce Systems, founded by former ConsenSys staff, which won the latest development RFP from the Ethereum Foundation and the Ethereum Name Service. The initial goal was simple (always a good sign, in my book).

“We started with an identity that wasn't that serious, not that strong,” said Spruce co-founder and CEO Wayne Chang. “Because we want to be tested in battle. In the short to medium term, it's more like social media credentials tying their Twitter handle to the blockchain… We don't want to provide [know your customer] credentials yet to buy millions of dollars in financial securities,” although that's a possibility down the road.

Apps for this early iteration, according to Spruce, are more likely to include lower security uses such as content gating for non-eligible token holders (NFT). Ultimately, though, by integrating secure off-chain storage, Sign-in With Ethereum (let's call it SIWE) can also offer “powerful” options like government IDs. Users will be able to control access to that data on a case-by-case basis and delete or separate it at will.

One of the significant hurdles for SIWE is the inherent risk of reusing any identifier, especially addresses that could possibly be easily linked to wallets used for financial activity. While the idea of ​​using multiple or single-use wallets as a security measure is familiar to crypto users, it may be a bridge too far for normal people, at least for now – another reason SIWE started small.

This article is excerpted from The Node, CoinDesk's daily rundown of the most important stories in blockchain and crypto news. You can subscribe to get the full newsletter here.

By David Z. Morris

David Z. Morris is CoinDesk's Chief Insights Columnist. He has written about crypto since 2013 for outlets including Fortune, Slate, and Aeon. He is a former academic sociologist of technology with a PhD in Media Studies from the University of Iowa. He holds Bitcoin, Ethereum, Solana, and small amounts of other crypto assets.

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di September 03, 2021 0

Booming Crypto Assets, Facebook Quickly Releases Diem Digital Money

CNBC International - Facebook's plans to launch its own cryptocurrency have not died down. This intention will be realized this year after changing the name from Libra to Diem.

Reported by CNBC International, Tuesday (20/4/2021), Facebook's cryptocurrency was first introduced in June 2019 under the name libra, this digital token was originally intended as a universal currency that is used to transfer money as easily as sending a message.

But after facing strong opposition from regulators around the world, the organization overseeing the project lost key backers including Visa and Mastercard. The group eventually watered down its plan, choosing several “stablecoins” or digital money that was linked directly to official money issued by the central bank such as the US dollar and the euro.

Now known as Diem, the Facebook-backed digital coin is expected to launch later this year, albeit in a much more limited form. Diem is currently in talks with Swiss financial regulators to obtain a payments license, an important step that will put the organization further on the path towards its digital currency project.

"A big step up from our dialogue with regulators has been a phased approach to roll out," Christian Catalini, Diem's ​​chief economist, told CNBC's Joumanna Bercetche last month.

“We will be phasing out different functions and uses, applications in different areas,” he said, adding that members of these cryptocurrencies – both large and small – must undergo strict anti-money laundering checks.

However, some consultants have responded cynically to this. Given Facebook's broad reach, which had 2.8 billion monthly active users in the fourth quarter of 2020, central banks and politicians fear the currency could threaten monetary stability and potentially allow money laundering.

Facebook's involvement also means there are concerns about how Facebook will protect user privacy. “That is a tremendous challenge to the international order, because the backlash is so strong,” said Michael Casey, chief content officer of cryptocurrency media CoinDesk.

One big concern, Casey said, was that Diem was threatening the dominance of the US dollar. Two months after Facebook launched Libra, former Bank of England Governor Mark Carney proposed a new digital currency based on the global basket of goods that could reduce the dollar's status as the world's reserve currency.

Diem's ​​technology has "changed dramatically over the past year and a half from a naive blockchain to a very sophisticated blockchain that you can see trying to answer some of the questions regulators have," said Ran Goldi, CEO of Digital Assets Group, which is building the infrastructure for traders. accept diem as payment method.

Even so, there are some opinions that are optimistic about this digital currency, given its extraordinary prospects around the world.

“I think it will pass the gates this year,” said Michael Gronager, CEO of blockchain analytics firm Chainalysis. “It will be an opportunity not to be missed,” he added.

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di August 31, 2020 0

We Raised $6.5 Million to Launch the Future of Events


Today, we are announcing a $ 6.5 million turnover led by Accel and joining a number of leading venture funds, including Northzone, Seedcamp, the Amaranthine Fund, and the Slack Fund of Web Summit, as well as a number of outstanding angel investors.

We didn't expect a better team of experts to join forces as we bring our live online event technology platform to market.

At Hopin, we build a platform that reproduces the live event experience - network, interaction, content, and connection - but in a more accessible, secure, and sustainable way. By bringing events such as conferences, summits, or workshops to Hopin, either as additional virtual experiences or completely web-based, brands can facilitate their events for a much larger global audience at a fraction of the cost to the planet.

With this aim, we've made the Hopin scale. Currently, our events can accommodate up to 100,000 concurrent attendees, but we are actively working to develop technology to increase this number to one million.

Our early access waiting list has grown considerably and the variety of use cases we saw from brands wishing to use Hopin was varied. From large-scale conferences to meetings, to trade shows and purpose-based organizations, to crypto hackathons and remote companies - verticals that Hopin serves the creative and broad. We see events as cool as yoga sessions, pottery seminars, music festivals, and more.

In this vein, we find that events are almost as unique as humans. They can be a little different. To solve this, we designed Hopin to be a modular virtual space. These can be customized to fit the unique goals of the event organizer.

Hopin feature set is aimed at fixing some of the problems in the multibillion-dollar virtual events industry, namely the lack of quality, face-to-face interactions between participants. Traditional video conferencing programs and "webinar" platforms provide the capital for viewing content with a smaller number of people. But it is difficult to connect meaningfully with other people at virtual events and it becomes more difficult at scale. Our solution to this problem is to offer an all-in-one platform with multiple modes of live video interaction that make big events feel small again, including one-on-one (networking), one-to-many (broadcasting), and many-to. -many (group conference).

Our mission is to create better connections for a better world. My hope is to see more people build better relationships by attending more events they normally wouldn't be able to attend. When we remove barriers to people coming together in authentic ways, we can begin to win the battle against loneliness and isolation.

A year ago it was just me, building a network platform from home. Today, we are a remote team of 15 people and we are growing fast. As expected, we use Hopin himself to collaborate and meet together regularly. With this funding round, we'll be launching Hopin in the next few months, improving our processes and our team (we're hiring), and partnering with individuals and brands around the world to launch some fantastic events.
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di August 28, 2020 0

XRP does not compete with Stablecoin or CBDC


XRP, the third-largest crypto asset, is currently struggling to reach $ 30. Apart from having a large market cap, XRP is primarily used across payment networks to bridge liquidity issues. Nonetheless, Ripple Senior Director Emi Yoshikawa shared his views on how he sees XRP in the Stablecoin and CBDC chaos.

When talking about expanding Ripple's reach in central Asia, Japan, he highlighted that Ripple's native token XRP is primarily focused on global payment systems. He strongly argues that XRP is not in competition with Stablecoins and CBDCs like China's digital Yuan. Apart from that, he also emphasized that stable coins, CBDC, and crypto assets like XRP can together bridge liquidity problems.
"There are various types of crypto assets, but in my opinion, the role of XRP as an asset bridge in international settlement is not a competition with Stablecoins or CDBC, but rather, complementary," said Emi.


The director also emphasized Ripple's Liquidity On-Demand (ODL) which uses XRP for international transfers without the need for a Nostro account. He went on to say that Ripple's current focus is on launching ODL in new markets by breaking down barriers and engaging local regulators.

Also through xSpring Ripple, an initiative to assist and assist companies and projects run by proven entrepreneurs, the company is focused on creating new use cases using XRP and Interledger technologies.

20% of RippleNet transactions occur using XRP

On the other hand, Ripple's SVP of product development and company, Asheesh Birla stated that 20% of RippleNet transactions occur using XRP. Tweeted about the increasing demand for ODL, Mr. Birla said;

XRP struggled to maintain $ 0.30 and fell back to $ 0.29 at the time of reporting this. As per Coinmarketcap, the token is currently up 1.42 percent in the past 24 hours, holding a market cap of $ 13,168,806,137.

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di August 25, 2020 0

Bitcoin Breaks New Records


Crypto is growing in popularity around the world. Digital currency is used in almost every sector. It is not only introduced to everyone and everywhere, but it is also getting closer and closer in value and may soon break new records and establish itself a valid position.

The global pandemic has disrupted massively in every sector and industry. The impact was enormous and it was getting harder and harder to recover from it. The economy is in a slump and it is very difficult to find the right way out because we are all surrounded by a deep fog of uncertainty. This is why everyone is trying their best to overcome a very difficult situation.,

The pandemic has affected not only some industries in particular but also has a profound impact on the economic state of each country as well as the global economy. This is why financial experts and experts are trying to figure out how the economy can be stabilized and what will be the next steps to improve the current state of the economy.

Many people are starting to invest in cryptos because digital currencies are supposed to be the future of the world, as we all turn to the digitization process. Digital currencies, on the other hand, are not affected by the pandemic and have less impact than outside factors. It is decentralized and non-physical, which will matter a lot during the height of the post-pandemic crypto period.

As such, more investors and entrepreneurs are starting to invest in the crypto market than ever before. This is the answer to the question, how does Bitcoin reach such incredible value and continues to increase in value every day.

New record

Bitcoin has overcome the invalidity of Bank of America as well as New Zealand dollars in Market Capital. This is the new beginning of the digital era. Bitcoin now occupies the 25th position via Market Capital. This is something that not many people imagine happening in the post-pandemic period.

Bitcoin got a lot of support from first-time investors and this was the most important in the massive increase in BTC volume. The capitalization of BTC has increased losses past Bank of America's assessment. Thus, Bitcoin is now closer to Paypal, than ever before.

BTC's current capital is more than $ 226 billion. This is a little more than the market capitalization of Bank of America and the New Zealand Dollar. The massive change was the result of a 3.2% increase in BTC and a 2% fall in Bank of America's market capitalization, which is around $ 224 billion. All of this gives financial experts and specialists the ability to call Bitcoin the 25th most valuable asset by market cap. Next is Paypal, which still stands even further at $ 230 billion.

Bank of America is clearly not alone in its significant decline from fiat-based institutions. The New Zealand dollar also stands right next to it, which means that Bitcoin has managed to position itself ahead of the NZD in just a matter of days. This fact also states that Bitcoin has taken the 34th position in the list of most valuable fiat-based currencies.

The Bitcoin Industry

As mentioned above, Bitcoin and other cryptocurrencies are becoming increasingly popular among various industries and investors as well. Most of the major industries have adapted Bitcoin and have introduced new blockchain-based platforms to customers.

One of the industries that have decided to get closer to the digital world is the gambling industry. It is one of the first industries to introduce a blockchain-based platform and supports most cryptocurrencies as a means of payment. Most of the online casinos, which are also likely to be one of the most popular means of entertainment around the world, have adapted cryptos and introduced many different online bitcoin slots to the audience. Most of the Bitcoin volume is generated from the gambling industry, as more and more companies are implementing it.

While many controversial and sharp measures have been introduced to smooth out the economic impact caused by the pandemic, the Federal Reserve is also encouraging different investors to invest more in the crypto market. Quite a few representatives of the gambling industry have already done so, and are expected to invest even more in the nearest future.

Buffett is not the only famous name on the list. Together with him, there are names like Paul Tudor Jones, who is the founder of the Tudor Investment Corporation. Another billionaire also considers investing in Bitcoin since revealing that the crypto asset was the part of his portfolio previously. So he is expected to be seen figuring in the crypto market anytime soon and the drastic increase of the Bitcoin value might actually be a good inspiration.

Barstool Sports founder, Dave Portnoy is also among the people to expect in joining the crypto world. It is not a simple guess r, but rather a statement. Portnoy made the statement with one of the websites. He and twin brothers Tyler and Cameron Winklevoss want to make a purchase of $200,000 in Bitcoin as well as $50,000 in Chainlink. This shall be Portony’s first crypto purchase. And let’s agree that for the first purchase and first crypto investment that is a decent portion.
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di August 21, 2020 0

The Fire Burned 660 Buildings or around 215,000 acres in California


Vacaville, In the middle of the night, the screaming woke them, warning they didn't have much time. The fire was coming.

Residents in and around Vacaville, in Northern California, grabbed their treasures and got out.

In some cases, it was an album of cherished photos. One woman collected her late father's ashes and her jewelry box. Some snatched up their pets. Others took nothing and fled as fast as they could.

Then, once away and safe, came the agonizing wait for news about their homes, threatened this week by the LNU Lightning Complex fires, which by early Friday had torched 215,000 acres. Across the state, 360 recent fires -- most sparked by lightning and spread due to high temperatures, inaccessible terrain, and limited resources -- have destroyed or damaged 660 structures.

A woman named Laura, who didn't want to give her last name, said she learned Thursday from neighbors around Vacaville that her home was safe. But her nerves were still rattled from having to evacuate at 2:30 in the morning.

Flames from the LNU Lightning Complex fires consume a home Wednesday in Vacaville, California.
"Our next-door neighbor pounded on the door. It was the scariest thing ever, " she told CNN as she waited at the Ulatis Community Center in Vacaville. "You don't know what to grab. I got a little jewelry box and my Dad's ashes."
Not everyone knew of the fate of their homes. They bided their time in the parking lot despite the heat.

Cheryl Jarvis didn't know whether she still had a house.

Jarvis didn't want to go inside the shelter and potentially put herself or her daughter at risk for contracting the coronavirus, she said. Besides, the parking lot had become something of a staging area for motor homes. Children rode bikes and neighbors made breakfast burritos on a portable grill.

In the center, there were just too many people, Jarvis said, so they slept in the back of her Toyota Prius.

"Not only are we dealing with Covid but with also the heat and now the fires," she said. "Where's the light at the end of the tunnel?"

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di August 14, 2020 0

German newspapers highlighted Vietnam as an attractive investment destination


German cassette maker Tesa plans to build a EUR 55 million (65 million USD) factory in North Vietnam in a bid to expand production from 2023, according to German newspaper Handelsblatt.

Berlin - German cassette maker Tesa plans to build a EUR 55 million (65 million USD) factory in North Vietnam in a bid to expand production from 2023, according to German newspaper Handelsblatt.

In an article published on August 13, the newspaper said the coronavirus had shown how companies must face risks as supply chains depend on each country.

Therefore, Telsa is not alone in choosing Vietnam. In recent years, the Southeast Asian country has become a popular choice for companies looking to expand their production network in Asia.

Viruses are intensifying the trend, according to the article. ASEAN countries, including Vietnam, see themselves in a good position to capitalize on this trend.

The article cites an analysis by consulting firm BCG which says that Southeast Asia is moving towards the epicenter of globalization.

The trade volume between Southeast Asia and Europe and America is expected to increase by more than 20 billion USD by the end of 2023. Meanwhile, the movement of goods between Southeast Asia and China is expected to increase by more than 40 billion USD.

Vietnam, which has a population of around 100 million, is said to have excellent prospects for capitalizing on development.

The International Monetary Fund estimates that the country can expect economic growth of nearly 3 percent this year, the article said.

The EU-Vietnam Free Trade Agreement (EVFTA), which took effect from August 1, is the reason that makes Vietnam increasingly attractive to foreign investors.

The article said Marko Walde, Chief Representative of the German Chamber of Commerce and Industry in Vietnam, expressed confidence that Vietnam would not only become more attractive as an investment destination but would also be very important in the development of alternative supply chains.

Apart from Europe, Vietnam has joined countries such as Japan, Canada, and Mexico in the free trade area since 2018 through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The country has also participated in the Regional Comprehensive Economic Partnership (RCEP) negotiations, including China and Australia. Another free trade agreement with the US is also being discussed.

Vietnam's openness to globalization has helped the country attract large companies.

Apple is moving about a third of its wireless headphone production to Vietnam. Meanwhile, Google and Microsoft have accelerated their plans to relocate part of their hardware production to the country. As for Samsung, Vietnam has been an important production location for years as more than half of its phones are made in factories in the country, the article said.
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di August 14, 2020 0

Four of the Five Major South Korean Banks Offering Crypto Services


South Korea's Woori and Shinhan Banks have just announced their intention to introduce a "crypto-asset service". That means four of the country's top five banks, which have a combined value of more than $ 1.2 trillion in assets, are now ready to introduce crypto services.

Individual banks aim to hold and manage cryptocurrency for clients. Both Shinhan and Woori announced their plans in direct response to the amended Special Financial Transaction Information Act that will amend the law around crypto assets, which goes into effect next year.

Shinhan Bank previously announced a crypto deposit plan in 2017, but this plan was thwarted by the government in January 2018.

NH Nonghyup Bank and Kookmin Bank have coordinated blockchain teams to implement crypto custodial features, with Nonghyup being the most advanced and hoping to launch a service for "institutional investors" in the coming months.

Too little, too late?

Blockchain experts in the country have voiced concern that these steps are "too little, too late" by citing American institutions as being far ahead of the South Korean banking sector. Park Sung-Joon, head of the Blockchain Research Center at Dongguk University, said he was "worried" that the "competitiveness" of state finances could be threatened as a result:
“Other countries are moving very fast in this regard. But there is still no legal system in place in South Korea, so progress has been slower than expected. "
Without "institutional support," he suggests that this push for crypto custody may not result in widespread integration.

Korea loves crypto

Although the financial sector has been criticized for the slow adoption of blockchain technology, other industries have been faster integrating it into their solutions. More than 1 million people have adopted the new blockchain-based digital SIM application in just 3 months. One of the largest banks in South Korea KEB Hana Bank has partnered with the Korea Expressway Corporation to implement a blockchain-based toll system for the country's highways.

And news this week emerged that Seongnam's payment program will be expanded by issuing new digital gift certificates while beachgoers in Busan will be able to pay for services with Bitcoin (BTC) and Ethereum (ETH).

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di August 14, 2020 0

Defi Burst: YAM Token Market Capitalization Drops Near Zero After Founder Claims He 'Failed'


Yield growers excited about the recent decentralized finance (DeFi) project, Yam Finance, got a rough resurgence after the token's value plunged to near zero. Developer Yam Finance discovered a major flaw in the rebasing contract and at 4 a.m. ET, co-founder Brock Elmore tweeted that he regrets having "failed."

On Wednesday, more than $ 500 million was funneled into the DeFi Yam Finance project. More than $ 120 million continued to flow after developers discovered a bug in the smart contract. After the bug announcement, the value of the YAM token dropped significantly as the token touched an all-time high of $ 167.66 per token. At the time of publication, tokens were only valued at $ 0.97 per YAM.

The token was launched on Tuesday and almost immediately a large amount of crypto was thrown onto the yield farming platform. The token is supposed to maintain its value in USD by using an elastic supply inspired by the Ampleforth DeFi project.

Many people complained that the codebase was not audited and raised flags for specific individuals in the community. The bugs found were terrible and resulted in additional YAM being printed during the rebasing period.

After the project developer realized the codebase couldn't be saved after trying to lock down 160,000 YAM, the developer found the smart contract was bullshit. In the early hours of the morning on Thursday, Yam Finance co-founder Brock Elmore tweeted about the situation. Elmore said:
"I'm sorry everyone. I failed. Thank you for the insane support today. I'm sick of sadness."
A number of well-known ETH supporters told Elmore the project was a good endeavor. "You're giving the community something unique to experiment with - thanks," tweeted Anthony Sassano.

The Yam Finance project is still one of the most trending conversations on social media and crypto-related forums. Crypto entrepreneur Bruce Fenton discussed the DeFi token situation on Thursday and said: "Your DeFi tokens are trash."

"They're not a good form of money," added Fenton. “You don't own the company. There is no right to income. There is no real income. The government is nothing without rights. Bullshit - often driven by the same comedians who got rich in ICOs. Few understand this. "

However, not everyone agrees with Fenton's observations regarding the DeFi token.
"There are no such corporate holdings as applicable to ANY utility token or 'coin currency'," Trustswap CEO Jeff Kirdeikis responded to Fenton's tweet. "You guard the gates of what 'has value' here by saying only security tokens have value? General. Owning BTC also doesn't give you ownership in the company or income… A lot of people understand this," added Kirdeikis.
Remember: Any information you read about YAM proposals or actions should be verified through posts by @yamfinance on Twitter and Medium. If and when we support other channels such as Discord, this post will be updated with the relevant links.
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di August 14, 2020 0

ETC Group Bitcoin ETP Hits $49 Million Assets Under Management in Two Months


The Etc Group said Wednesday that its centrally opened bitcoin exchange (ETP) exchange-traded products have accumulated up to $ 49 million in assets under management since launching on June 18, 2020.

The contract, known as Bitcoin Exchange Traded Crypto (BTCE), tracks the price of BTC and is 100% physically backed by the cryptocurrency.

It started trading on the electronic trading market Xetra Deutsche Börse in June with a total cost ratio of 2% - a measure of the total cost of funds to investors.

According to the Etc Group, a London-based financial services company, Btce was the most traded non-leveraged asset in the Xetra exchange-traded notes segment in July, with a volume of over $ 67 million.

"Btce has been popular with both experienced crypto traders ... as well as attracting a whole new community of investors who appreciate its centrally cleared and exchange-traded characteristics," said Andre Voinea, director of Hanetf, in an emailed statement.

Hanetf is a private issuer of EU-approved exchange-traded funds. BTce is distributed and marketed on the corporate platform. Voinea added:
"The Caliber of Official Participants supporting liquidity at Btce demonstrates how bitcoin has matured into a significant and serious institutional asset. By centralizing the previously fragmented Bitcoin liquidity at Xetra, we are bringing a time-tested product structure to a new asset class along with the same regulatory protections. to purchase other listed securities. "
One Btce is equivalent to 0.001 bitcoin, less cost, Etc Group says, allowing the holder of each unit of its derivatives to claim a specific amount of bitcoins. These assets can be redeemed in BTC or cash.

The company states that for each ETP unit, "there is bitcoin stored in a regulated institutional level safe" - identified as the Bitgo Trust Company. Products like these are key to introducing retail investors who might be risk-averse to bitcoin.

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di July 24, 2020 0

Build the Internet of Finance

Avalanche is an open-source platform for launching highly decentralized applications, new financial primitives, and new interoperable blockchains.

Avalanche Blockchain project raised $ 42 million in sales of public tokens

The Avalanche Blockchain project, spearheaded by computer science professor Cornell Emin Gün Sirer, raised $ 42 million in public token sales last week.

The amount was collected in less than 4.5 hours on July 15, AVA Labs announced on Wednesday. There are 72 million Avalanche tokens (AVAX) available for sale, and investors from 100 countries reach all of them. Some funds also come from Genesis Ethereum addresses.

"It's clear that the market really wants a project of this caliber," said John Wu, president of Ava Labs. "The success and speed of the Avalanche sale is a testament to the quality of our project and its impact on institutional finance and decentralization."

The funds have been collected by the Avalanche Foundation and its affiliates. AVAX tokens will be distributed to investors when the Avalanche mainnet is launched, which is expected to air at the end of August.

The token is not currently listed on any crypto exchange, but will be available for trading in the future, AVA Labs said.

The sale of public tokens brought the total amount of AVA funds to date to $ 60 million. Last month, the project raised $ 12 million in private token sales and previously raised $ 6 million from leading venture companies, including Andreessen Horowitz (a16z).

The AVA network claims to outperform Ethereum 2.0 when it is launched. Sirer recently told The Block that the network will be able to achieve not only a higher throughput (the number of transactions a network can process per second) but also lower latency (the time needed for a node to agree that a transaction is valid).

TOKEN SALE: 15 JUL – 15 JUL

Ticker : AVAX
Token type : OWN BLOCKCHAIN
ICO Token Price : 1 AVAX = 0.50 USD
Fundraising Goal : $9,450,000
Total Tokens : 720,000,000
Available for Token Sale: 4.72%

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di June 16, 2020 0

Bitcoin Network Consumes a Ton of Electricity

The awareness and adoption of cryptocurrency is at an all-time high where even governments and financial institutions that have underestimated the fintech revolution as an internet bubble have come to accept the benefits of decentralized technology. Bitcoin, the king of cryptocurrency that started it all, is now seen as a powerful financial tool and a parallel investment vehicle. However, one major aspect of bitcoin is that the enormous energy consumption for transaction verification and securing the network has been the cause of many people's anger.

The high energy consumption of the bitcoin network is directly related to the mining consensus of Proof-of-Work (PoW).

A brief history of PoW and how it works?

PoW is the first consensus algorithm that was introduced by Satoshi Nakamoto (the creator of Bitcoin) in 2008, when Bitcoin was created. This algorithm was mentioned in the Bitcoin white paper by Satoshi, but this concept was introduced earlier in 2004 by a computer scientist, Hal Finney.

There are many questions about the PoW algorithm about how it works and how much energy is consumed. Well, the main purpose of PoW is to create a new block and to confirm all transactions. It contains a record of all transactions related to Bitcoin, plus it is fully decentralized and promotes transparency. It is true that this consensus algorithm uses a lot of energy which means it involves very high costs. Although mining machinery has evolved a lot over the past few years and claims to be more energy efficient, it still consumes a lot of energy.

The PoW mining consensus ensures equality because it offers equal opportunity for every miner who wants to mine the next block, and once the block is mined, he distributes block prizes according to the energy input made by each miner in finding the next block. This algorithm is very different from another popular mining consensus called Proof-Of-Stake (PoS), where the network selects the next miner to find a block. This mining consensus might reduce electricity waste but is not as stupid as PoW.

Back in 2018, Vitalik Buterin, one of the founders of Ethereum, the second largest cryptocurrency, called PoW a tragedy. Buterin quotes that PoW uses billions of dollars of electricity every year and there is still so much theft and fraud.

Bitcoin energy consumption and what is the equivalent?

Through several types of research, it is estimated that Bitcoin mining actually uses around 1% of total world energy consumption. Bitcoin mining is a process through which new coins are generated and carried out by solving very complex computational equations with the help of some very special computers. Along with adding new Bitcoin to circulation, mining also ensures network security. To make more money through the mining process, more miners have been added to the network, which in turn leads to higher energy consumption because all miners will work constantly.

Researchers at Cambridge University jumped into the debate about energy consumption of Bitcoin and conducted the same research. In their research, they found that the complete Bitcoin network around the world consumed more than 7 gigawatts of electricity and for a full year, total energy consumption was around 64 terawatt-hours.

They have compared this energy consumption with various countries and found that the total energy consumption of the global Bitcoin network is more than the energy consumption of all of Switzerland during the same time period. The research team has also created an online tool, the Cambridge Bitcoin Electricity Consumption Index (CBECI) that is there to find out how much energy is needed by the Bitcoin network to maintain the network.

The Bitcoin network actually uses renewable energy

Every time the Bitcoin energy consumption debate is revealed, there are many claims that Bitcoin emits a high amount of carbon dioxide. Some people even claim that these emissions are the same as those emitted by many big cities like Las Vegas. So the question is is Bitcoin really an environmental disaster? According to a researcher, Robert Sharratt, Bitcoin is not a danger to the environment and it undermines this myth that is generally spread by most people. He has dispelled many people's doubts about the energy consumption and carbon footprint associated with cryptocurrency. He accepted the fact that Bitcoin or other cryptocurrency did use a lot of energy but in any case it was not comparable to what many people predicted. Sharratt also explained that crypto uses the world's largest computer network so that the carbon footprint associated with it is truly moderate. He further explained the benefits of using cryptocurrency and how to promote wealth equality.

Another study by Coinshares in June last year revealed that although energy consumption from the Bitcoin network was high, the carbon footprint dilemma was artificially created because the energy consumed by the bitcoin network was generally clean and renewable energy. CoinShares publishes a report stating that most of the energy consumed by Bitcoin comes from natural resources such as Hydro, Wind and Solar power. He claims that 74.1% of the total energy consumed by Bitcoin is renewable which is very similar to other large scale industries.

The safest network

Despite the fact that there is a large energy consumption in Bitcoin, many people still prefer to hold fast to Bitcoin. The reason is the security this network provides. Over the past few years, it has been seen that the Bitcoin network is very safe and the main reason for this security is the blockchain. Bitcoin is supported by Blockchain and every transaction that occurs on this network is encrypted with a blockchain which adds extra security to the network. Blockchain helps keep all users' personal information completely safe and protect their privacy so that there is no possibility of fraud or hacking. Therefore, it is said that Bitcoin is the safest network than before.

Conclusion

Since we have discussed all of the energy consumption of Bitcoin and the use of renewable energy, the end note is that Bitcoin has now emerged as one of the best digital currencies. Although it consumes a lot of energy, it is a fact that is proven through many studies that the majority of energy consumed by Bitcoin is renewable. Therefore, it is very clear that Bitcoin is not harmful to the environment as many have claimed.
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di June 10, 2020 0

Voyager Increases Additional $ 2.1M Through Personal Placements

Voyager, a crypto brokerage company based in New York has made an announcement that it was able to collect an additional $ 2.1 million.

NEW YORK, 8 June 2020 / PRNewswire / - Voyager Digital Canada, Ltd. ("Voyager" or "Company") (CSE: VYGR; OTCQB: VYGVF; FRA: UCD2), a licensed crypto-public broker, public that provides investors with a turnkey solution for trading crypto assets, today announced it has received a subscription in connection with the placement non-mediated private sector ("Private Placements") for gross proceeds of C $ 2,896,888 million (US $ 2,161,282) through the sale and distribution of 14,484,440 units in the Company's capital (respectively, "Unit") at C prices $ 0.20 per Unit. Private Placement will be closed this week to accommodate the challenge of completion due to Covid-19.

These funds have been collected with the help of private placements and will help accelerate the company's growth. It has also been announced that the company will close private placements this week only. Investors included in the private placement are Jon and Pete Najarian, Susquehanna Government Products, Streamlined Ventures, and many others.

Jon and Pete Najarian are co-founders of the Market Uprising. The two Najarian brothers are quite active in the crypto community and they also plan to launch trading applications through Market Rebellion.

Voyager will use additional capital to pay off debts

It has been reported that this additional capital that has been collected through this private placement will be used for company growth.

Voyager will use this additional $ 2.1 million to repay company debts and this will automatically drive the company's development and growth. This will also help the company to increase its customer account base and this will be made possible through product development and marketing.

Voyager has also announced that they have signed debt settlement agreements with several of its employees. The company will pay off $ 103,112 in debt and this will be done by issuing around 515,560 shares at $ 0.20 per share.

The company recently issued interest rates for different coins

Stephen Ehrlich, CEO of Voyager said that he and his company are very happy to have great investors. This investor will help the company to accelerate its growth. Recently, the company also issued interest rates for various coins in mobile applications including Bitcoin, Ethereum and XRP.

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di June 09, 2020 0

Maze Gang Steals Around 1.5TB Data From ST. Engineering Aerospace

The US subsidiary of ST Engineering Aerospace recently lost about 1.5TB of sensitive data from its own company and partners, by a ransomware attacker.

On June 06, The Straits Times quoted the Cyfirma investigation, a cybersecurity company, as saying that in March 2020, the Maze gang allegedly attacked ST Engineering Aerospace.

Contract Details Stolen

The report further explained that the criminals had stolen data that included details of company contracts with various organizations, governments and airlines around the world.

On March 03, ST Engineering Aerospace released an internal memo that included details of ransomware infections at VT San Antonio Aerospace.

According to the memo, initially, the attack was not carried out by McAfee nor by the defenders of the Widows. The company itself recognized the problem after learning that the file was renamed and the associated "DECRYPT-FILES.txt" was encrypted in the same folder.

Separate Aerospace Commercial Operations

The vice president at VT San Antonio Aerospace, ED Onwe, when discussing the issue of the ransomware attack, said that recently, they had investigated the problem and they found that the company had fallen victim to the ransomware attack. They have now decided to separate the US commercial operations from ST Engineering to a limited amount.

The vice president also announced that at present, their business is being operated in this country.

Cyfirma has confirmed that the attackers have stolen details of the company's contract with the Peruvian government and the Argentine government. They have even stolen data that contains information about contracts with NASA.

Recently, a threat analyst at Emisoft, Brett Callow, shared his views on this issue and has stated, "The Ransomware group often leaves a back room that, if not addressed, can provide continued access to the network and allow a second attack. This is one reason why we always recommend that companies rebuild their networks after an event and not just decrypt their data. "

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di May 23, 2020 0

Iranian President Calls for Launching Cryptocurrency Mining Strategy

Iranian President Hassan Rouhani has called for a mining strategy across the oil-rich nation. The latest statement from the Iranian president follows Iran's steps to limit certain crypto trading platforms for the mandate of "currency smuggling".

On May 20, 2020, Iranian President Hassan Rouhani told the press that the country needed to spur a cryptocurrency mining strategy, so that the country prospered economically amid US sanctions. The report, which comes from the regional news outlet Arzdigital which claims Rouhani told his government to start developing a crypto mining strategy for Iran as soon as possible.

Rouhani said that the energy department, the country's central bank and the finance minister need to devise a new scheme that welcomes bitcoin miners. This includes Iran's regulatory policy towards mining agriculture located in the country and taxes.

Iran recently recognized cryptocurrency mining operations as an official industry last year. Iranian officials have issued licenses for agriculture that are willing to cooperate with the Iranian government.

In January 2020 it was reported that Iranian lawmakers licensed more than 1,000 mining operations in the country. In the summer months of 2019, Iran represented 2% of the entire global hashrate of the Bitcoin network. But since then, the last migration has made it so that Iran now has 4% of total hashrate according to statistics.

Rouhani's statement was somewhat confusing after the Iranian government made it difficult for international crypto exchanges to operate in collaboration with the country. This week the Iranian parliament released a proposal aimed at curbing "currency smuggling" by heightening regulations for international crypto exchanges. Basically, the Iranian parliament wants Iran-based exchanges to be licensed and they are required to follow a currency smuggling mandate.
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di May 05, 2020 0

Russian Central Bank Admits It Cannot Prohibit Bitcoin

A few days ago, the head of the same legal department of the Russian Central Bank Alexey Guznov said that soon the law adopted on digital financial assets would be amended and the circulation of cryptocurrency in Russia would be banned, except for safekeeping.


Punishment will be applied to violators. Therefore, it is too early to rejoice or be upset. Senior officials' information about cryptocurrency is very contradictory so it is difficult to comment on anything. One thing is clear: the Russian government does not want to legalize cryptocurrency and allow its citizens to use it freely. We must expect the proper application of the law.

The director of the legal department of the Bank of Russia has acknowledged that Bitcoin and other cryptocurrencies cannot realistically be banned in the country.

Although cryptocurrency is not completely legal in Russia, it looks like it will also never be banned. That's the latest news from the Russian government.

The director of the legal department of the Bank of Russia has acknowledged that Bitcoin and other cryptocurrencies cannot realistically be banned in the country.

Although cryptocurrency is not completely legal in Russia, it looks like it will also never be banned. [Interfax] That's the latest news from the Russian government.

Secure Cryptocurrency in Russia?

Cryptocurrency has faced a confusing and difficult legal situation in Russia for some time now. Last month, it was reported that several bank accounts related to cryptocurrency could be frozen in the country. Cryptocurrency payments have also come under fire for damaging Russian rubles.

The Russian Central Bank has repeatedly supported the ban and remains firm against Bitcoin. However, it seems that establishing such dictation has proved impossible - and the Russian government has admitted this recently.

As recently reported director of the legal department of the Bank of Russia, Alexei Guznov, said that the ban was not possible. However, he said that cryptocurrency is being actively used for money laundering and illegal activities.

He also stressed that cryptocurrency is "not money." However, Bitcoin spending cannot be stopped and he said that "we cannot possibly limit this."

Russia likes Cryptocurrency

There is no denying that cryptocurrency remains very popular in Russia. However, opposition from the government is strange considering how entangled they themselves are in the world of cryptocurrency.

Last year, it was revealed by a large Bitcoin mining field owned by aides of President Putin. The Russian State has also sought to create a financial center on the border between Russia and China, specifically for cryptocurrency trading.

So, it seems that the Russian state is more than willing to exploit cryptocurrency for its own purposes but wants to prevent its people from doing that. The good news is that now they have recognized that they cannot ban cryptocurrency in this country - but this tacit admission still puts the industry at serious risk there. However, this is good news for those who fear Bitcoin might be blocked. These fears can now be rested.

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di May 01, 2020 0

Google Profits off Impersonations of Banned Cryptocurrency Celebs and Companies


Cryptocurrency companies are banned on Google but the platform is allowing phishing sites to impersonate them. London-based bitcoin exchange Coin Corner showed that a fraudulent site mimicking it is allowed on Google’s advertising platform though its own evidence-backed appeals of legitimacy to Google Ads have been constantly ignored.

Coin Corner marketing manager Molly Spiers says the policy is exposing customers to fraud. “So @GoogleAds won’t allow @CoinCorner – a long-standing, legitimate business – on their platform, but will allow phishing companies? Pay attention @Google!” she tweeted on April 30.

Spiers shared a screenshot showing a Google advert that promotes www.coincornerr.com, an apparent phishing site that impersonates the Coin Corner website. The acceptance of the scam site by Google Ads enables it to come up higher on Google Search. She points out:

"With Google’s stance on #Bitcoin and #cryptocurrency advertising, any adverts that contain crypto-related keywords are going to be automatically disapproved, so it looks like they have copied our text but removed all references to bitcoin in order to get around Google’s algorithms."

In 2018, Google banned cryptocurrency ads supposedly to protect users from scams but partially lifted the ban to allow regulated exchanges in the U.S and Japan to advertise. The continuing embargo on crypto companies outside the exempted territories, however, is not serving its purpose as phishing sites are allowed while appeals from regulated companies are disregarded.

Coin Corner has been in business for six years and is registered with the British authority, the exchange’s CEO, Danny Scott, commented in Spiers’ thread. The company has contacted Google a number of times to ask for exemption in the UK to no avail.

Scott said Coin Corner reported the scam site to Google but it has not been removed from search results. Google has previously continued to run adverts from phishing sites even after they are exposed.

In a related episode of policy inconsistency, Google’s sister platform, Youtube, recently took down Ripple CTO David Schwartz’s videos, claiming that they are impersonations. You Tube is currently facing a Ripple lawsuit for not doing enough to protect users from giveaway scams.

The Alphabet-owned platforms need to update their policies and technologies to stop promoting fraudulent initiatives while censoring legitimate businesses and exposing consumers to scams.
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