Day: September 29, 2020

Introducing UNI: The Uniswap Protocol token

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Since its inception, the Uniswap Protocol (”Uniswap”) has served as trustless and highly decentralized financial infrastructure. Inspired by Ethereum’s vision, we have long committed to the ideals of permissionless access, security, and immutability, all indespensable components for a future where anyone in the world can access financial services without fear of discrimination or counterparty risk. Now rivaling centralized incumbents on daily volume, Uniswap’s success to date — achieved without involvement of the core development team since deployment — indicates that there is considerable demand for permissionless financial services. In less…

US Senate Candidate Is a Hodler, Sees Bitcoin as Alternative Store of Value to US Dollar

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US Senate candidate Cynthia Lummis is pro-bitcoin. She bought her first bitcoin during her time in Congress. Now she calls herself a hodler and sees the cryptocurrency as a viable alternative store of value to the US dollar. Bitcoin Advocate in the Senate Cynthia Lummis served Wyoming as a conservative Republican in the U.S. House of Representatives for eight years. She is now in the running for the U.S. Senate, with the endorsement of President Donald Trump. Lummis revealed during the third annual Wyoming Blockchain Stampede on Sunday that she…

Chainlink Gearing Up for a Major Push Higher as Bulls Defend $10.00

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Chainlink is currently attempting to confirm $10.00 as a support level as it faces inflows of selling pressure that jeopardize its near-term outlook. Despite the present weakness it is facing, a confirmation of this level as support would be incredibly bullish, as it would mark a mid-term support-resistance flip that potentially kicks off the next leg of its recovery. On the flipside, a break below this level would be grim, and potentially cause the cryptocurrency to plunge down towards its recent $7.50 lows that were set just a handful of…

Afraid of DeFi? Here’s how to earn 41% APY on Bitcoin without wrapping it

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The number of investors interested in yield farming has grown immensely over the past 6-months as decentralized finance (DeFi) applications became better known and easier to use.  This has led to an uncountable number of liquidity pools offering annual percentage yields (APY) surpassing 1,000% and the total value locked in DeFi contracts has risen to billions of dollars. Bitcoin investors who wanted a piece of the action managed to participate in DeFi yield farming by converting their BTC into tokenized formats like Wrapped BTC (WBTC) and renBTC (RENBTC).  This allows…

Market Wrap: Bitcoin Holds at $10.7K; Uniswap Volume Drops

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As bitcoin struggles to hold the $10,700 price range Uniswap’s September volume set records but appears to be declining. Bitcoin (BTC) trading around $10,757 as of 20:00 UTC (4 p.m. ET). Slipping 1% over the previous 24 hours. Bitcoin’s 24-hour range: $10,621-$10,924 BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians. Bitcoin trading on Coinbase since September 27.Source: TradingView Bitcoin’s price dropped a couple of hundred dollars as a spate of selling took the world’s oldest cryptocurrency to as low as $10,621 on…

Blockchain legislation passes the House, heads for Senate

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The updated Consumer Safety Technology Act, which now includes the Digital Taxonomy Act and the Blockchain Innovation Act, has passed in the House of Representatives and is now headed for the Senate as of Tuesday afternoon. The Digital Taxonomy Act provides definitions for the terms “digital asset” and “digital unit” and would task the Federal Trade Commission with preventing unfair trade practices in both. The Blockchain Innovation Act would require the FTC to put together a report on blockchain’s role in consumer protection. Regarding the news, the author of the two bills, Congressman…

Bitcoin Faces Pivotal Quarterly Close, Here’s Why

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Bitcoin price is facing a historically volatile quarter, that’s in the past taken the cryptocurrency to either its annual top or bottom the last few years in a row. But this quarterly close is especially pivotal, due to one important but likely overlooked resistance level. How the cryptocurrency closes in less than 48 hours could shape the trend ahead for the next three months or more. Cryptocurrency Market Approaches Critical Quarterly Close The cryptocurrency market is heading into the fourth quarter of the year, and the most unusual one in…

Kadena Looks to Capture DeFi Energy With New Decentralized Exchange

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Hybrid blockchain platform Kadena plans to launch a new multi-chain decentralized exchange (DEX) in hopes of wooing business from congestion-plagued Ethereum-based rivals. Called Kadenaswap, the new DEX, unveiled Tuesday and set to debut late this year, will attempt to skirt around Ethereum’s surging gas fees and perennial network congestion (caused in part by the explosive success of Uniswap) by providing decentralized finance (DeFi) traders with an alternative platform that Kadena President Stuart Popejoy claims can handle high volumes. Source

European Blockchain Service Infrastructure PCP to Begin—Why it Could Benefit XRP and BTC

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The European Commission is looking for new blockchain solutions for the European Blockchain Service Infrastructure (EBSI). The EBSI aims to deliver EU-wide cross-border public services using blockchain technology with the highest standards of security and privacy. In December last year, the EC began an open market consultation—putting out a call for tenders with the aim of implementing a Pre-Commercial Procurement (PCP) in cooperation with and building on the work of the European Blockchain Partnership (EBP). The EBP is an effort between the EC, all EU Member States, and some countries of…

Blockchain patent filing rose significantly in China after Xi Jinping’s 2019 endorsement

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Recent figures published by Chinese media outlets show that companies in China have filed for over half of all global blockchain patents. According to a report titled “2020 Blockchain Industry Development”, Chinese companies have applied for 4,435 blockchain patents following Chinese president Xi Jinping’s endorsement of the industry. The study was jointly compiled by Tsinghua University, Peking University, and China Institute of Communications. During a committee session in October 2019, President Xi called for the country to accelerate its adoption of blockchain technologies as a core for innovation. According to…