Day: September 6, 2020

DeFi experts say that Ethereum 2.0 is not the answer to high gas fees

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High gas fees for transactions on the Ethereum blockchain are at record highs amid the decentralized finance hype that has attracted many new users to get on board on the Ethereum network. DeFi experts and computer scientists got together on Sept. 3 for Cointelegraph China’s DeFi Marathon event shared their thoughts on the high gas fee potential solutions. Although they have different opinions on solutions, they all agreed that Ethereum 2.0 is not the answer to high transaction costs. Sergej Kunz, CEO of the oldest decentralized exchange 1inch, Mounir Benchemled,…

Binance defends SUSHI listing after criticism

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Following SushiSwap’s dramatic drop, users blasted crypto exchange Binance for even listing the token in the first place. But Binance stands by its decision to back risky projects. Binance CEO Changpeng Zhao, better known as CZ, defended their decision to list projects and tokens like SUSHI in a tweet. “As one of the leaders of the space, we support innovation. With innovation comes the chance of high reward, and high risk. Some projects make it to the moon, while some fall short. Always manage your risk accordingly. In crypto winter,…

How Commercial Real Estate Tokenization Could End up Boosting Liquidity

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The advent of blockchain technology has knocked the doors of the commercial real estate sector too. It can change the process of capital formation and transaction settlement by focussing on higher speed and better efficiency. Through tokenization, the assets will be divided into tradable shares and provide ownership rights to investors. It ensures adequate liquidity which would be useful during the reselling of assets. Though tokenization has a lot of promise, it has to face different hurdles in the form of industry lobbies, regulatory pressure, changing demand and supply conditions…

Could Russia lead Eastern Europe’s crypto boom?

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Not unlike many other jurisdictions around the world, Russia has come to recognize the potential benefits and risks flowing from cryptocurrencies by taking its first step to define and codify digital assets. The new Russian legislation dubbed “On Digital Financial Assets” sets a clear direction for the treatment of cryptocurrencies by authorities and how both individuals and businesses can handle them in everyday practice. Nevertheless, the new legislation may give pause to payments companies and fintech companies keen on expanding into the Russian market. While the approach of the Russian…

Blockchain studio rep laments that ‘Not all gamers are crypto traders’

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With the rise of non-fungible tokens (NFT), gamers and crypto enthusiasts are coming together, but gamers may not even know they’re using cryptos before they understand the decentralized nature of NFTs, an expert said.  During an interview with Cointelegraph, Mac Ocampo, head of growth at blockchain entertainment studio Virtually Human Studio (VHS), said that NFTs and gaming platforms complement each other well, as there are “good NFT products out there like Sorare and Dapper Labs’ NBA Top Shot which introduces more mainstream users to the world of NFTs.” Ocampo summarized…

Can Bitcoin go below $10K again? The ‘Trondicator’ may have the answer

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The markets are bleeding out. Ether (ETH) dropped from $500 to $300 in a matter of days, people are screaming that the DeFi bubble has burst already, and are crying about their favorite “[insert food name] coin” crashing in value after a one-month-old Twitter account rug pulled 38K ETH from investors. Yes, it’s just another week in crypto, but did anyone else notice that Tron (TRX) was pumping amidst all this? Might just be a coincidence, but the last time this happened so quickly the entire crypto market bled out…

Binance Introduces Launchpool for Secure Farming of New Assets

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The Bella Protocol consists of a suite of DeFi products that aims to bring one-click crypto banking services to users. Some of its unique features include subsidized gas fee and automated services. Crypto exchange Binance has been on an announcement spree as it looks to expand its services. Earlier today, Binance released its new product Launchpool. The new product provides users a secure way of farming new assets and acquiring token rewards in return for staking BNB, BUSD, and other tokens. Introducing Launchpool, a Secure Way to Farm New Assets…

South Korean government agency to use blockchain-based employee ID system

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The Korea Internet & Security Agency, or KISA, is the first public entity of South Korea to implement a blockchain-powered employee ID system through a smartphone app starting October. According to Yonhap, the agency will also issue tokens called “KISA Coin” to reward KISA’s best employees, enabling them to purchase snacks, beverages, and even office supplies. It is currently being pilot tested, with the expectation to make it available for the entire workforce. The new employee ID system will allow KISA’s workers to use near field communication technology, or NFC,…

Bitcoin Dominance Slides Losing 10% in the Last 100 Days

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Bitcoin’s Dominance Index has slid 10% from a high of 67% on May 10, to a low of 57% today. Despite the defi market shakeout, ethereum still captures 10% of the aggregate market capitalization of $330 billion. There’s been a number of changes in the top ten line up of coins, as bitcoin (BTC) has been losing dominance since May 10. Market dominance is the measurement of the top coins, in terms of market valuation, compared to the aggregate of all 6,700+ crypto coins. BTC has consistently commanded the top…

Tech Giants Are ‘Real Winners’ of COVID-19 Crisis

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According to Paolo Gentiloni, European Commissioner for economics and taxation, Amazon, Apple, and Alphabet are “the real winners” of the COVID-19 crisis, and it was no longer possible “to accept the idea that those giants are not paying a fair amount of taxes in Europe”. The COVID-19 crisis has seriously dented the markets and complicated the activity of many companies. Now, as they are still facing the consequences of the pandemic, economic questions arise. And giants like Amazon.com Inc (NASDAQ: AMZN), Apple Inc (NASDAQ: AAPL), and Alphabet Inc (NASDAQ: GOOGL)…