Day: February 24, 2021

Prediction Market 2.0 Arrived | Coinspeaker

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PreSaga is set to become the Uniswap of prediction markets, disrupting the space and bringing users a new and better experience. With 24/7 news cycles streaming uninterrupted coverage of a global pandemic, widespread economic insecurity, political violence, and massive cultural clashes, everything feels uncertain. But for one cryptocurrency niche, uncertainty is the key to success. Prediction markets are just what they sound like; theyโ€™re digital marketplaces where users can bet their cryptocurrency to make predictions on uncertain future events. The immutable nature of blockchain technology lends itself well to this…

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Canadian bank plans to launch dollar-backed digital currency ‘in the coming months’

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In an announcement on Wednesday, VersaBank said it plans to launch a digital currency called VCAD, which will reportedly be backed by Canadian dollars deposited with the bank. The Canadian bank claimed that VCAD would effectively be “the first digital currency to represent a fiat currency” issued and backed by a North American bank.ย VersaBank said it had partnered with Canada Stablecorp, a joint venture between investment fund manager 3iQ and blockchain firm Mavennet, to launch the “stablecoin.” The bank plans to make VCAD available to the public โ€œin the coming…

Brave Integrates DEX and NFT Wallet in New Browser

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Though Brave is bringing out new projects, the browser is also facing privacy issues. The crypto-powered web browser Brave has declared that its new wallet project will integrate NFT functionality and DEX aggregator. The new plan of action for the famous web browser carries the companyโ€™s vision to take a look at possible scaling solutions for the upcoming wallet project with a non-fungible tokens support and to add a DeFi functionality. The companyโ€™s Roadmap 2.0 strategically spells out the inclusion of mobile support and enhanced API functionality, together with the…

The Fed Is Carefully Examining Digital Dollar โ€” Chairman Jerome Powell Says ‘Very High Priority Project for Us’ โ€“ Regulation Bitcoin News

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Federal Reserve Chairman Jerome Powell has provided an update on the progress of a digital dollar. He confirmed that it is a โ€œvery high priority projectโ€ for the Fed, and agrees with U.S. Treasury Secretary Janet Yellen on the benefits of issuing a digital dollar. The Fed Is Looking Carefully at a Digital Dollar Fed Chair Jerome Powell testified on Capitol Hill before the Senate Banking Committee Tuesday, the first of two days of congressional testimony. He is speaking before the House Financial Services Committee on Wednesday. Senator Bill Hagerty…

Global Fintech Investments Topped $30B in First Nine Months of 2020

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According to a report by Qatar Financial Centre and Refinitiv, investors stashed $30.4B in global fintech investments in the first 9 months of 2020. Despite 2020 being characterized by economic chaos and market crashes, investors still managed to invest $30.4B in the fintech industry according to the Qatar Fintech Report 2021. The report especially highlighted the exponential interest growth. In 2008, global fintech investments stood at $1B. In a few years, this has gone to over $30B. It is also evident that investors are seeing great potential in the Middle…

Alameda Invests $40 Million in Robinhood-like Crypto Startup Oxygen

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Oxygen is built on Solana, a blockchain that can handle up to 50,000 transactions per second, which is miles ahead of Ethereum that can only process a maximum of 15 transactions per second. There is a general consensus in the crypto space that decentralized finance (DeFi) is the future of the traditional financial system. However, despite the level of growth enjoyed by this sector in recent times, its adoption rate is still very low meaning it has enormous room for growth when it comes to the issue of public adoption.…

ETH mining still highly profitable despite upcoming Eth2 upgrade

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Ethereum miners continue to enjoy lucrative payouts for their efforts in 2021, while the smart contract blockchain platform edges closer to a move away from its proof-of-work consensus. The past few months have been phenomenal for much of the cryptocurrency space, as the likes of Bitcoin (BTC), Ether (ETH) and various other coins have seen monumental gains in value. The increased volume of transactions and users have also directly benefited the cryptocurrency mining ecosystem. Ethereum miners in particular have banked serious profits due to the success of decentralized finance projects…

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Chainlink rolls out OCR system upgrade, reducing gas costs tenfold

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Chainlink (LINK) has launched a major upgrade for its oracle network, dubbed Off-Chain Reporting, or OCR. The upgrade was announced on Wednesday, though the implementation has been live for some time already. OCR changes how data across multiple sources is joined together by the oracle network. Previously, the process of aggregating different readings of the same desired input, for example a tokenโ€™s price, was done on-chain. Chainlink nodes would submit their individual readings of the data, which would be verified by a smart contract on Ethereum and other blockchains. This…