Day: August 8, 2022

Web2 adoption key to Metaverse success, Klaytn Foundation — KBW 2022

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Sam Seo, the director of metaverse-focused blockchain Klaytn Foundation believes widespread adoption of the Metaverse will be “easier” if Web2 companies integrate the tech with their products and services. Speaking to Cointelegraph during the Korea Blockchain Week (KBW) on Aug. 8, Seo suggested that Web3 Metaverse projects generally have issues attracting a mainstream audience, as normal people often have a hesitancy to use new technology from companies that they have never heard of. “If new ideas are combined with Web2 platforms like [social media app] Kakao, especially in South Korea,…

The Number of Cryptocurrency ATMs Installed Worldwide Surpasses 39,000 – Bitcoin News

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This week the number of cryptocurrency automated teller machines (ATMs) operating worldwide has surpassed the 39,000 mark. Since January 2017 when the count was approaching 1K machines, the number of crypto ATMs has grown by 3,925% since then. Crypto ATM numbers saw exponential growth during the last 23 months since September 1, 2020, when there were less than 10K machines worldwide. There’s Now 39,011 Crypto ATMs Installed Across 77 Countries During the first week of August 2022, the number of digital currency dispersing automated teller machines (ATMs) operating globally crossed…

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Crypto payments will ‘make sense’ as tx costs fall to mere cents — KBW 2022

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Ethereum co-founder Vitalik Buterin has argued that crypto payments will once again “make sense” as transaction costs will soon fall to fractions of a cent due to layer-2 rollups. The Cointelegraph team currently on the ground at Korea Blockchain Week (KBW) quoted Buterin as stating that the final hurdle to getting transactions down to fractions of a cent at scale is blockchain data compression.  He pointed to “solid work happening” with roll-ups at the moment such as Optimism’s layer-2 scaling solution for Ethereum, which has worked to get the size and cost…

Aurora Labs exec details ‘fascinating and devious’ crypto scam he almost fell for

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Aurora Labs’ head of product, Matt Henderson, says there is a sophisticated over-the-counter (OTC) transaction scam running about that almost duped him into losing a stash of his hard-earned cryptocurrency.  Henderson detailed his personal run-in with a scam artist known as Olai to his Twitter followers on Friday.  Olai’s scam essentially involves tricking a victim into believing payment had been received for an OTC crypto transaction, when in fact it wasn’t. Today I nearly got caught by a fascinating and devious crypto scam during an OTC transaction. Read on to…

TRON (TRX) TVL Accelerates To Nearly $2 Billion Last Month

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TRON (TRX) continues to gain traction despite the current erratic market movement. TRX has recently seen TVL growth by $6 billion in July which is by far due to a revival of investor interest specifically in DeFi. TRON has been the most-supported DeFi smart contracts seen in the past two years. In fact, blockchain has accelerated by 49% in terms of TVL as observed in July. In fact, July growth was exponential as TRON’s TVL was seen to surge from $3.95 billion on July 1 to $5.91 billion at the…

Solana Price Caught In Consolidation, Unable To Break Past The $40 Level

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Solana price has been trading laterally as the altcoin has not been able to move past the $40 price mark. The altcoin has experienced a blow recently as thousands of wallets were drained of their assets owing to an exploit. The latest exploit had allowed hackers to drain the funds using private keys. After the attack on the network, Solana’s value swiftly dropped to $38. Solana price has now been stuck at the $40 level. The current support level for the coin stood at $40 and failing to stay on…

3 Bills Introduced in US to Make CFTC Primary Regulator of Crypto Spot Markets – Regulation Bitcoin News

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Three different bills have been introduced in the U.S. this year to empower the Commodity Futures Trading Commission (CFTC) to be the primary regulator of the crypto spot markets. Lawmakers Want CFTC to Be Primary Regulator of Crypto Spot Markets Three bills have been introduced in Congress so far this year to make the Commodity Futures Trading Commission (CFTC) the primary regulator for crypto spot markets. Noting that there has been a longtime debate as to whether the Securities and Exchange Commission (SEC) or the CFTC should be the primary…

60 million NFTs could be minted in a single transaction: StarkWare founder

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Zero-knowledge (ZK) rollup tech company StarkWare founder Eli Ben-Sasson says its new Recursive validity proofs could theoretically roll up as many as 60 million transactions into one on the Ethereum blockchain. The zkSTARK co-inventor made the comments to Cointelegraph during ETH Seoul on Aug. 7 after announcing the start of production of StarkWare’s new Recursive validity proof technology during a presentation.  Speaking to Cointelegraph, Ben-Sasson said that recursive validity proofs could further scale up transaction throughput to a factor of at least ten compared to standard Validium scaling, noting that…