Month: January 2022

Why 2022 Should Be the Year of the Govcoin

The U.K., where I’m from, isn’t doing much better. The Bank of England’s backed “Britcoin” is only set to launch in 2025, a lifetime away in crypto years. The government has issued piecemeal regulations on exchanges, while our regulator, the Financial Conduct Authority (FCA), continues to issue confusing and often contradictory “warnings” on the volatility of the crypto market. In the U.K., cryptocurrencies remain largely unregulated financial instruments to this day. Source

NEAR Hits All-Time High as Upstart Blockchains Win With 'FOAN Trade'

Near Protocol’s NEAR token reached an all-time high Wednesday on signs the up-and-coming blockchain might be undervalued as it attracts more activity. The token has risen in the current bear market for cryptocurrencies like bitcoin, bucking the trend to increase in price over 18% in the last seven days and doubling over the past month. As of press time the NEAR price was $18.70. Near Protocol is a layer 1 blockchain that aims to overcome some of the limitations of its competitors such as slow transaction rates, limited throughput and…

Xapo Gives Up Its NYDFS BitLicense

“Serving the U.S. market would require quite a lot of effort, time and investment, it would require a separate organization within Xapo to support it and it would still yield a worse product than what we can offer internationally,” Xapo founder Wences Cesares said at the time. Source

Traders say Bitcoin run to $44K may be a relief bounce, citing a repeat of December’s ‘nuke’

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Bitcoin (BTC) may have rallied to $44,000 on the back of United States inflation data, but according to traders, there is little hope of a sustained comeback. In a Twitter discussion on Jan. 12, data analyst Material Scientist warned that significant downside may still return to Bitcoin price action. “Now we wait” Despite showing stength since bouncing at $39,600, BTC/USD has yet to convince most analysts that its overall downtrend has ended. After U.S. inflation data came in at 7% year-on-year for December, those voices of doubt continued, even as…

Jack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation

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Jack Dorsey has announced the launch of a bitcoin defense fund that is aimed at bitcoin developers who are facing litigation. The space, although still new, has had its fair share of litigation as various devs have had to battle it out in the courts over their products. This fund will help to fund provide legal defense for these developers who otherwise would have folded due to lack of funds. Backing Up Bitcoin Developers In an email sent out to the bitcoin developers’ mailing list, Twitter ex-CEO Jack Dorsey announces…

Pay-to-Play Governance Builds Steam as Bribe Raises $4M

“Conceptually, this is exactly how governance should look here,” they said. “Let’s not have any pretensions of true democracy here – we’re working with governance tokens as votes. The world we have to [get to] before utilities can stop being built, there needs to be a clear, transparent price tag for a vote, and a place where I can pay for it.” Source

Solana Could Become the Visa of Digital-Asset World: Bank of America

“Solana prioritizes scalability, but a relatively less decentralized and secure blockchain has trade-offs, illustrated by several network performance issues since inception,” Shah said. “Ethereum prioritizes decentralization and security, but at the expense of scalability, which has led to periods of network congestion and transaction fees that are occasionally larger than the value of the transaction being sent.” Source

Kim Kardashian, Floyd Mayweather Sued for Inappropriately Promoting Cryptocurrency Token – Featured Bitcoin News

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Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. are facing a class-action lawsuit over their promotion of Ethereummax and the EMAX cryptocurrency token. The celebrities’ “improper promotional activities generated the trading volume needed for all the defendants to offload their EMAX tokens onto unsuspecting investors,” the lawsuit alleges. Kim Kardashian and Floyd Mayweather Jr. Sued Over Crypto Promotion Kim Kardashian and Floyd Mayweather Jr. have been sued over their promotion of a cryptocurrency token. The class action lawsuit, filed by New York resident Ryan Huegerich on Jan.…

Why Brazilians Are Turning to Stablecoins Like Tether

Amid record inflation and a constant devaluation of their local currency, Brazilians are turning to cryptocurrencies and, in particular, stablecoins as never before. According to Receita Federal, the Brazilian tax authority, between January and November 2021, locals traded $11.4 billion in stablecoins and almost tripled the total traded in 2020. Stablecoins also traded $10.8 billion in bitcoin last year. The stablecoin boom in Brazil goes back to at least 2020, when different crypto exchanges began to notice that Brazilian stablecoin traders were quadrupling in number. Rising inflation is one of…

What Is a Dapp? Decentralized Apps Explained

Decentralized autonomous organizations, or DAOs, can be seen as a kind of dapp. They aim to use an intricate arrangement of smart contracts to achieve the functions of a traditional organization without the need for corporate executives and hierarchies. They determine policy entirely through a weighted voting system where members who lock away more tokens possess greater voting power. The idea behind this concept is that those who have committed more funds to a DAO will be more likely to participate in it honestly, for the good of the organization.…