Day: December 23, 2021

Pantera’s Paul Veradittakit’s 2022 Predictions

To maintain DeFi’s pace of adoption, it’s absolutely critical that we develop even more protocols and tooling to ensure that users are interacting with safe financial products in crypto. Projects like Forta, which enables dapps to monitor runtime security, and Nexus Mutual, which offers dapp users insurance against smart contract exploits, have already made significant headway in securing the crypto financial ecosystem. Still, there remain a great many vulnerabilities in the smart contracts powering DeFi, the majority of which we still don’t know. In 2022, I expect to see security…

Jack Dorsey Gets Slammed by Twitter’s Crypto Crowd For Web3 Critique

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Twitter boss Jack Dorsey kicked off a major storm this week, attacking an idea that cryptocurrency enthusiasts widely believe will lead to a new dawn for decentralized finance and the internet – the coming of web3. Proponents of web3 hail it as a major revolution of the internet, bringing back control and ownership of information and assets exchanged over the web to the people. With that promise, it will also kill off the role of many of the giants that dominate the Internet today – namely the likes of Facebook,…

Bitcoin’s Hashpower Remains High, Up 163% in 5 Months, Foundry USA Commands Top Mining Pool – Mining Bitcoin News

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The hashpower behind the Bitcoin network has continued to stay above the 180 exahash per second (EH/s) zone after recently reaching a lifetime high. Five months ago the hashrate tapped a low at 69 EH/s and since then, the hashpower has increased by 163% during the last 178 days, or five months ago. Bitcoin Hashrate Continues to Run Hot at End of Year Following China’s Crackdown on Bitcoin Mining This Past Summer Miners dedicating SHA256 hashpower to the Bitcoin blockchain have been keeping the processing power above 180 EH/s. At…

NEAR Predictions: Creatives Ready to Level-Up

Other promising projects also made appearances. Feiyu, a social media platform built around meme and GIF sharing through NFTs, already had over 1.5 million users before NEAR|CON, so none was needed to confirm creatives were interested. The team from Reality Chain announced its plans to offer an entire metaverse landscape filled with NFT players, homes, furniture and other in-game items, all interacting through voice and text. A DAO formed to help launch this metaverse, with $REAL token holders able to vote on project initiatives. Source

Global search interest for ‘NFT’ surpasses ‘crypto’ for the first time ever

For the week ending on Christmas, global searches for the term “NFT,” which refers to nonfungible tokens, have surpassed “crypto,” according to Google Trends. The sharp increase in search traffic for NFTs offers a clear indication that digital collectibles have entered mainstream consciousness, with transactions on OpenSea, the most popular decentralized platform for NFT auctions and drops, surpassing $10 billion. “NFT” versus “crypto” search trends. Source: Google Trends The huge increase in the demand for NFTs is evident across nearly all aspects of society. First, consumer brands such as Nike…

Crypto Payments Will Drive Crypto Adoption, New Report Reveals

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According to a new study, more than half of Americans believe that using crypto payment provides firms a competitive advantage. 57% Want Bitcoin Payment According to a recent survey conducted by payment network Mercuryo, 57% of respondents felt that taking bitcoin payments will provide businesses a competitive advantage. More than a third of businesses indicated that consumers had asked to pay in Bitcoin (BTC), Ether (ETH), or another digital money, among other facts. Customers agreed, with 58% of shoppers wanting cryptocurrencies to be accepted as a form of payment, according…

Telegram CEO Endorses TON Blockchain Spinoff Toncoin

“The key question here is, whether the U.S. justice system would be willing to dig into the connection [between Telegram and Toncoin] and whether Durov would have enough time and money for a new round of fighting,” said Fedor Skuratov, a former community manager at TON Labs, the venture-backed company that helped Telegram test the blockchain before it quit from the project. Source

The biggest letdowns in crypto and blockchain in 2021

2021 has been one of the most interesting years for blockchain technology and cryptocurrencies, both in terms of adoption and mainstream acceptance. From governments such as El Salvador to large corporations like Tesla, Goldman Sachs, Bank of America and Morgan Stanley, many institutions have made a step toward becoming a part of the ecosystem. Even so, there were a few issues and events that soured the mood for cryptocurrency investors and the community in general. SEC’s rejection of VanEck’s spot Bitcoin ETF Following the United States Security and Exchange Commission’s…

Consultants Are Entering the Metaverse – Literally

Animoca-owned metaverse The Sandbox is heralding the arrival of the suits: in this instance, consulting firm PwC Hong Kong. The Sandbox team said Thursday that the business consultancy bought some LAND, virtual real estate represented as a non-fungible token (NFT). A PwC Hong Kong representative wouldn’t specify which plot it bought or for how much. Recent sales have seen LAND go for about $10,000 a pop, according to blockchain data. It’s part experiment, part forward-thinking business play for PwC as brands from Nike to Facebook hitch their wagons to what…

Bitcoin hash rate nears record 200EH/s as 100K BTC turns ‘illiquid’ every month

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Bitcoin (BTC) is about to hit a new all-time high in one essential area — and major mining pools have likely already clinched the title. Data from monitoring resource MiningPoolStats shows that, as of Dec. 20, the Bitcoin network hash rate is practically at its highest ever. Hash rate vanquishes specter of China Despite the price comedown from $69,000, hash rate is steaming higher, and the chunk of computing power from known pools is now at a historic peak. Hash rate refers to the computing power dedicated to mining, and…