Day: January 13, 2022

Velas Network Blasts off Through Partnership with SpaceChain into the New-Age Space Race

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While the space race for humanity began in the mid-1950s, blockchain technology took its first steps outside Earth in February 2018, and now Elon Musk has declared the start of the space race in early June 2021. With the recent news that SpaceX was going to carry some payload funded by Dogecoin, the latter was likely to be the first cryptocurrency to reach the Moon. Elon Musk’s SpaceX Falcon 9 rocket launched the Transporter 3 rideshare mission with several small satellites for government and industry customers on January 13th. It…

Fed Chair Jerome Powell Argues private stablecoins can co-exist with US CBDC

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On Jan. 11, Federal Reserve Chair Jerome Powell told Senate legislators that nothing prevents privately issued stablecoins from coexisting with a prospective Fed central bank digital currency (CBDC). Jerome Powell Confirms Fed-issued Digital Currency Is Underway Sen. Pat Toomey (R-Pa.) asked Powell during his confirmation hearing for a second term as Fed chairman whether there was place for a future Fed-issued digital currency to coexist with a privately issued stablecoin. Toomey asked: “Is there anything about that that should preclude a well-regulated, privately issued stablecoin from coexisting with a central…

A look at Terra’s ecosystem

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Terra’s native staking token, LUNA, was one of the best-performing cryptocurrencies of 2021, with gains north of 13,000%. Terra has also surpassed Binance Smart Chain (BSC) in total locked value with $17.62 billion, making it the second-biggest DeFi chain just after Ethereum.  Much of this growth is due to Terra’s ecosystem, with a community of developers continually building decentralized applications on top of Terra. But it may come as a surprise to know that before there were hundreds of apps built on Terra, there were only two that existed at…

How to Sell Bitcoin

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Although each platform handles payments a little differently, the process is essentially the same. First, you need to register as a seller on any of these platforms and then set up your sell order. You will be notified when someone shows an interest in your offer. Some platforms such as Localbitcoins have a built-in escrow service to ensure transactions run smoothly. You can receive payment for your bitcoin via Moneygram, cash in the mail, gift cards, bank deposits and even cash in person, depending on your preferred option. If you…

What Is Ether? A Quick Guide to What Ether Is

Five ether are created roughly every 12 seconds. But beyond that, the rules for ether’s economy are open-ended and frequently change as new improvement proposals are agreed upon by the Ethereum developer community. While bitcoin has a hard cap of 21 million bitcoins, Ethereum’s main token does not have a set max supply limit. Source

Bitcoin Miner Rhodium’s Planned IPO Values It at Up to $796M

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Bitcoin miner Rhodium Enterprises plans to offer 7.69 million shares at $12-$14 each in an initial public offering (IPO), according to its U.S. Securities and Exchange Commission (SEC) filing. After the IPO, the company will have about 56.8 million class A shares outstanding, implying a market cap of between $682 million to $796 million. The company will use proceeds from the IPO to repay its outstanding debt and accrued interest under its bridge loan, totaling approximately $31 million as of Sept. 30. Rhodium will also use the funds to build…

Georgia Goes After Crypto Miners Using Subsidized Electricity in Historic Town – Mining Bitcoin News

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A record high consumption of electricity blamed on illegal crypto farms in northwestern Georgia has caught the attention of authorities in the capital Tbilisi. The central government and the local utility are taking on the issue of dealing with power shortages in the mountainous region of Svaneti. With Tourism Hit by Pandemic, People in Georgia Turn to Crypto Mining on Cheap Energy The government of Georgia, a small nation in the Caucasus, has joined forces with the energy distribution company Energo-pro, to address the growing illegal use of electricity to…

DeFi Alliance Becomes ‘Alliance DAO’ After $50M Raise From 300 Web 3 Leaders

A top crypto accelerator is DAOifying itself to the tune of $50 million. DeFi Alliance, the incubator of platforms ranging from Sushi to Olympus DAO, rebranded itself as “Alliance DAO” Thursday. A who’s who of crypto investors, executives, non-fungible token (NFT) bulls – and also Jake Paul – backed the self-styled “digital startup nation.” Some 300 contributors provided the funding, according to project founder Imran Khan, ranging from Libra co-creator Morgan Beller to OpenSea’s Devin Finzer. What the new moniker means for the newly minted decentralized autonomous organization (DAO) is…

What Are Ethereum Gas Fees?

What Are Ethereum Gas Fees? To reduce the cost of your total gas fee through a lower base fee, you could make your transaction on the network at a time when fewer people are using the blockchain. This is because, in a CryptoX Portal

Seashell Emerges From Stealth Mode With ‘Inflation-Resistant’ High-Yield Savings Accounts

Fintech Seashell has emerged from stealth mode with the launch of its high-yield Seashell Save app and the announcement of a $6 million seed round co-led by Khosla Ventures and Kindred Ventures. Seattle-based Seashell bills its offering as an “inflation-resistant” savings app. The U.S. consumer price index, an inflation metric measuring costs across dozens of products and services, rose 7% in December compared to the prior year, the largest increase since 1982. The national average interest rate for savings accounts is just 0.06%, according to Bankrate data. Seashell hopes to…