Day: January 10, 2022

New NFT marketplace LooksRare allows traders to earn rewards

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LooksRare, a recently launched nonfungible token, or NFT, marketplace, says it wants to index all NFT collections on the Ethereum blockchain. The site went live on Monday with a token airdrop. #LooksRare NFT Marketplace Now Live! $LOOKS airdrop claim open⏰ Staking starts at block 13977012Trading reward calculations start tomorrow LFG! https://t.co/Y1jt9Kmqt6 — LooksRare – NFT Marketplace (@LooksRareNFT) January 10, 2022 Created by two anonymous co-founders, known as Zodd and Guts, LooksRare claimed to be made “By NFT People, for NFT People.” According to its blog announcement, the LooksRare team is…

How DAOs Will Transform the Customer Experience

The simplest business models are the easiest to run, but ecosystems are the future of the technology business. They are also complicated and delicate and, as we keep seeing, large companies, with their focus on shareholder returns above all else, find that balancing act difficult to sustain. Simpler is always easier, but if we’re going to have complexity, perhaps it will work out better as a DAO. Source

Is Moxie Marlinspike Right About Web 3?

“Web 3″ isn’t all that easy to critique, since it tends to mean different things to different people. Critiques abound, each with slightly different operating definitions of the term, but it’s rare to encounter one with the kind of technical depth you might expect from a crypto developer – someone who’s played around with the code and gotten a feel for how these systems really work. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to…

Bitcoin dip below $40K follows Fed signal of a possible fourth rate hike in 2022

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Global financial markets, stocks and cryptocurrencies took a knock on Jan. 10 after rumors that the Federal Reserve may hike interest rates four times in 2022 circulated and sparked a sell-off and sent the benchmark 10-year Treasury yield briefly above 1.8%. Data from Cointelegraph Markets Pro and TradingView shows that a massive wave of selling broke Bitcoin’s (BTC) support near $42,000, resulting in a plunge to $39,660 before buyers stepped in to buy the perceived dip. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts are saying about this latest drawdown…

Arbitrum Network Stalled Due to Sequencer Downtime – Bitcoin News

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The Arbitrum network, an Ethereum L2 (Layer 2) rollup, experienced some difficulties that caused a complete stop in the production of blocks and the confirmation of transactions. According to reports from the Arbitrum team, this incident had to do with downtime regarding its sequencer, a special node that manages the order of transactions, leaving the network unusable for approximately seven hours. Arbitrum Stalls for 7 Hours The network of Arbitrum, an optimistic scaling rollup for the Ethereum network, stopped completely on January 9, leaving users unable to make…

Single inactive volcano has 90% chance of powering El Salvador’s Bitcoin City, according to president

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El Salvador President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project. In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to the president. The El Salvadoran leader said the state-owned electrical company LaGeo was continuing to increase its production of geothermal power from different volcanoes in the country, with one of…

Bitcoin Stabilizes Above $40K Support; Resistance Near $45K

Bitcoin (BTC) selling pressure is starting to wane after last week’s price dip. The cryptocurrency is holding short-term support at around $40,000, although upside appears to be limited near $43,000-$45,000. BTC is down about 2% over the past 24 hours, although the price action has been fairly muted over the past few days. The relative strength index (RSI) on the four-hour chart is rising from oversold levels, which typically precedes a brief price bounce. On the daily chart, the RSI is the most oversold since Dec. 10. Upside momentum has…

Crypto Exchange Binance Lists Two Altcoins Built on Ethereum, Triggering Rallies

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A pair of crypto assets that facilitate peer-to-peer (P2P) connectivity got a power surge after being listed on crypto exchange giant Binance. In a new announcement, Binance says that the utility token of Alchemy Pay (ACH), a payment system that serves as a bridge between the crypto and fiat economies, will now be available for trading. According to the project website, Alchemy Pay serves as “an all-in-one online and offline crypto-fiat gateway service for businesses,” and also enables financial institutions to offer cryptocurrency investment services. News of the Binance listing…