Month: August 2022

What’s going on with Cardano testnet and Vasil hard fork?

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Cardano founder Charles Hoskinson has continued to refute claims that the Cardano’s testnet is “catastrophically broken,” implying the need to finally move forward with the long-delayed Vasil hard fork. In a Twitter thread on Aug. 21, Hoskinson shared his frustration concerning some of the videos claiming Cardano’s testnet has a “catastrophic” issue, which stems from an Aug. 19 thread from Cardano ecosystem developer Adam Dean. The developer claimed that the testnet is “catastrophically broken” due to an undiscovered bug in Cardano’s Node v 1.35.2 that creates incompatible forks — which…

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BTC to lose $21K despite miners’ capitulation exit? 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week fresh from a new multi-week low amid a return of highly nervous sentiment. After dipping below $21,000 over the weekend, the largest cryptocurrency is consolidating around 10% lower than a week ago, and the fear across crypto markets is clearly visible. As some call for new lows and others warns of a difficult few months ahead, there is plenty for bulls to contend with on both long and short timeframes The United States Federal Reserve’s annual Jackson Hole symposium is due this week, while…

Average Bitcoin transaction fee drops under $1 as network difficulty recovers

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The average transaction fees on the Bitcoin (BTC) blockchain fell below $1.00 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over the Ethereum blockchain skyrocketed several times during the nonfungible token (NFT) hype, inducing stress on general users. While the Bitcoin ecosystem has also endured its fair share of high transaction fees in the past, timely upgrades — including the Lightning…

Russian Caught Mining Crypto in Covid-19 Clinic – Mining Bitcoin News

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An IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto farm. Altai Resident Apprehended for Running Underground Crypto Mining Operation An employee of the republican hospital in Gorno-Altaisk, the capital town of the Altai Republic in southern Siberia, has been arrested for setting up a crypto farm at a medical facility. He had been running the…

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GameStop NFT daily fee revenue plunges under $4K as gloom infects markets

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Daily revenue for GameStop’s NFT marketplace has plummeted to under $4,000, suggesting that interest in the platform has waned significantly since launching in mid-July. According to data from DappRadar, GameStop NFT has generated roughly $166,800 worth of sales volume over the past 24 hours. With the platform charging only a 2.25% fee on NFT sales, the figure equates to just $3,753 worth of revenue during that time. DappRadar’s limited data on GameStop appears to confirm figures actually plunged down to around $2000 as trading volume has pumped 91.23% over the…

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Supercute World is the Next NFT Brand Aiming to Become the Next Disney

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Many understand the power of NFTs and content creation. Many more continue to herald the technology as it helps creators connect directly with fans by tokenizing artistic and other creative work. NFTs are viewed as an important tool towards democratizing creative endeavors, since more people can get involved without having to go through a third-party intermediary. In fact, enthusiasm for specific NFT projects has led to some unprecedented moments in the crypto world. The launch of Yuga Labs Otherside NFT collection on April 30th attracted so much attention, crypto traders…

Ethereum’s Pivot to Proof-of-Stake Consensus Worries Users About the Possibility of Protocol Level Censorship – News Bitcoin News

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The upcoming consensus change that Ethereum, the second largest cryptocurrency by market cap, is planning to execute in September has worried many users about the possibility of censorship happening at a protocol level. This means that, even by interacting directly with smart contracts, blacklisted addresses would not be able to transact or operate in the base layer. Incoming Merge Event Triggers Worries in Crypto Circles The Merge, Ethereum’s migration from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus algorithm has raised concerns about the future of the chain…