Day: December 18, 2020

Vinnik’s attorney appeals against 5-year prison sentence

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The defense team of Alexander Vinnik, an alleged Bitcoin launderer who was sentenced to a five-year prison term, disagrees with the court’s decision. According to a Dec. 18 report by Russian news agency Kommersant, Vinnik’s attorney Frederic Belot has appealed the French court’s judgement, arguing that the defendant was not involved in any money laundering operations. Citing a Dec. 6 judgement charging Vinnik for “money laundering as part of an organized criminal group,” Belot emphasized that no “criminal group” consists of one person. “The court did not name a single name…

DeFi community raises centralization concerns over Compound Chain

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DeFi lending protocol Compound published a white paper on Thursday introducing Compound Chain, a new blockchain aimed at providing cross-chain value transfer capability. Reactions to the news have been overwhelmingly negative with many respondents on social media taking issue with the perceived centralization concerns associated with the project. Perhaps expecting a negative response from “Crypto Twitter,” Compound Labs even limited replies on its tweet announcing the project. According to the white paper, Compound Chain is a blockchain architecture that will allow cheaper value and liquidity transfer across different distributed networks.…

Six things to consider when using algorithms for employment decisions

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18 December 2020 When developed and used responsibly, algorithms can transform society for the better. But there is also significant risk that algorithms can exacerbate issues of fairness and inequality. This often impacts the most vulnerable or marginalised people.  Algorithms do not just impact society; society also impacts the use of algorithms. This year two significant global events could lead to important changes in the use of algorithms for employment-based decision-making. First, with many people losing their jobs due to the Covid-19 pandemic, more people will be applying for limited…

Crypto Surveys Expect Bitcoin to Double Its Current Value in 2021

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Bitcoin has also become a sudden hedge for investors to shield their investments against legitimate inflation as a result of numerous government’s effort to support economies and increase in spending due to the pandemic. The biggest digital coin in the crypto world Bitcoin has been tipped to further explode within the coming months according to crypto surveys. Bitcoin’s performance in the last quarter of the year has been nothing but marvelous. After a somewhat shaky start to the year, the coin finally looks set to embark on a bull run.…

The threats to DeFi’s sustainability — and how to fix them

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In the space of 12 months, DeFi has become a $15 billion industry — spawning governance tokens that are now worth even more than Bitcoin. But the rapid explosion of protocols has brought considerable growing pains… and concerns that the sector is not on a sustainable footing. When interest rates in conventional savings accounts stand at a fraction of a percent, while yield farming generates triple-digit returns, it’s inevitable that questions will emerge about whether this is a bubble that’s fit to burst. As Ethereum co-founder Vitalik Buterin recently pointed…

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Elrond up 20% in 24 hours as EGLD price triples in December — Can the rally continue?

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With Bitcoin (BTC) largely in the spotlight after hitting a new all-time high of nearly $24,000, other projects are starting to ride BTC’s coattails as well. One of the latest standouts is Elrond (EGLD), which is up 20% over the past 24 hours and nearing its all-time high.  The current highs above $27 is an increase of over 200% in December and more than 1,500% year-to-date, marking an extremely bullish year for this project. Elrond becomes ninth crypto project listed on eToroX  Elrond’s recent run isn’t based on technicals only as the…

Cardano to open up to Ethereum Solidity devs with new initiative

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Solidity, a major programming language for writing smart contracts, will soon become compatible with the Cardano (ADA) blockchain. According to a Dec. 17 announcement on Cardano Developers website, Cardano devs are now opening up Cardano to the Solidity and Ethereum community through an interoperable platform that uses native Ethereum code. As part of the effort, Cardano developers are planning to restart and accelerate their K Ethereum Virtual Machine, or KEVM developer network, or devnet, program. The devnet envisions an EVM running within the so called “K framework” — a system…

Virgin Galactic Stock Down 9% after Failed Spaceflight Test, SPCE Lost 20% in 5 Days

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Despite recording constant gains over the last twelve months, SPCE has dropped over 20% in the last five days.  American spaceflight company Virgin Galactic Holdings Inc (NYSE: SPCE) recorded losses in its stock after the company aborted its spaceflight test on the 12th of December. According to the space tourism company, the spaceflight test was cut short as a result of a problem with the engine ignition. The failed test was supposed to be the company’s one of three flight tests before completing its spacecraft system. Virgin Galactic Failed Spaceflight Test…