Day: August 24, 2020

‘So Many Things Wrong’ With IMF Education Video, Says Crypto Twitter

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An old International Monetary Fund video explaining the benefits and disadvantages of cryptocurrency has resurfaced on social media, and many viewers are largely unimpressed. The two-minute video originally published in June 2018, which the International Monetary Fund (IMF) posted to its Twitter account on Aug. 23, refers to cryptocurrency as the “next step in the evolution of money” without specifically mentioning terms like a decentralized ledger, blockchain, or even token names. Bitcoin (BTC), XRP, and Ethereum (ETH) make an appearance only in a graphic illustrating crypto transactions. What are cryptocurrencies?…

Inter-Blockchain Liquidity: Minting Synthetic Bitcoin Cash With the Ren Protocol

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The decentralized finance (defi) ecosystem has matured quite a bit in 2020 and one project that’s seen some growth is the Ren Protocol. The application that allows people to access inter-blockchain liquidity for a number of defi applications. The following post is a step-by-step guide on how to leverage the Ren Protocol with Bitcoin Cash and a Metamask wallet. This week news.Bitcoin.com tested the Ren Protocol, another decentralized finance (defi) application that has been making waves within the crypto community. This is because the total value locked (TVL) in the…

Polkadot (DOT) Flashes Technical Strength, but Analysts Fear Slowing Momentum

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Polkadot (DOT) has become a rising star within the crypto industry, with its price seeing significant upwards momentum as the blockchain incurs growing utility. Its massive surge seen throughout the past few weeks has allowed it to climb the ranks with regards to market cap, with it now being the tenth largest cryptocurrency – falling just behind Bitcoin SV and Cardano. Analysts are now noting that DOT still appears to be incredibly strong from a technical perspective, with it currently forming a strong base of support that could allow it…

Crypto Long & Short: What Are Regulators Thinking?

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When the news came out last month that the U.S. Office of the Comptroller of the Currency (OCC) had cleared banks to custody crypto assets, you may remember that I expressed surprise that the new crypto-friendly Acting Comptroller Brian Brooks had managed to get such a bold move through the channels of bureaucracy so fast. It turns out that he didn’t. Apparently the OCC had been working on this letter for some time, according to regulatory sources who spoke to my colleague Nik De.  While this may sound like a…

Radix Releases Technologies to Bring DeFi Into Mainstream

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Radix is taking a massive step into decentralized finance (DeFi) with the release of its first layer-one protocol made up of four different technologies. In a white paper, Radix said it had released four technologies it believes can bring DeFi for mass adoption. These are Cerberus, a high-speed network consensus mechanism, Radix Engine, for building DeFi applications, Component Catalog, a library to help build DeFi, and Developer Royalties, a decentralized incentive program. The company said that for DeFi to go mainstream, it needs low transaction costs, secure by design systems,…