Month: September 2022

How adoption of a decentralized internet can improve digital ownership

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Known as Web2, the current iteration of the internet emphasizes creating and distributing user-generated content. Websites like YouTube, social media apps like Instagram and Twitter, news sites, personal blogs and more make up a large part of the internet. Web2 is a step up from Web1, which was mainly a read-only web version filled with simple static websites. Web3 aims to bring decentralization and token-based economies to the internet. Web2 versus Web3 The development of several different web protocols at the beginning of the twenty-first century made it possible for…

Accused ‘shadow banker’ Reggie Fowler seeks a 6-month sentencing delay

Reggie Fowler, a former NFL team owner and alleged “shadow banker” who might face up to 30 years of imprisonment, asked the court of the Southern District of New York for a six-month adjournment.  Technically, it was Fowler’s lawyer Ed Sapone who requested “unusually long adjournment”, justifying it with his “serious medical condition” as well as with the necessity to obtain information relevant to the case from financial institutions, entities, and individuals located in Europe. According to independent journalist Amy Castor, who reported this development, Sapone made his request on…

Elon Musk, Cathie Wood sound ‘deflation’ alarm — Is Bitcoin at risk of falling below $14K?

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Bitcoin (BTC) has rebounded by 20% to almost $22,500 since Sept. 7. But bull trap risks abound in the long run as Elon Musk and Cathie Wood sound an alarm over a potential deflation crisis. Cathie Wood: “Deflation in the pipeline” The Tesla CEO tweeted over the weekend that a major Federal Reserve interest rate hike could increase the possibility of deflation. In other words, Musk suggests that the demand for goods and services will fall in the United States against rising unemployment. A major Fed rate hike risks deflation — Elon Musk…

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Cardano On White House Crosshair Can Push ADA Up This Route

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The recent White House announcement has placed the spotlight on Cardano as the leading Proof-of-Stake blockchain that’s currently on the market. This recent news follows the announcement of the Vasil upgrade which aims to improve usability and scalability.  A simple Twitter search of ADA will result with tweets of happy and confident traders and investors.  “Here is the White House energy report showcasing #Cardano as the largest proof of stake blockchain in the world. Probably something,” said Dan Gombardello in a recent tweet.  Chart: TradingView.com At the day of the…

64% of staked ETH controlled by five entities — Nansen

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A report from blockchain analytics platform Nansen highlights five entities that hold 64% of staked Ether (ETH) ahead of Ethereum’s highly anticipated Merge with the Beacon chain. Ethereum’s shift from proof-of-work to proof-of-stake is set to take place in the coming days after final updates and shadow forks were completed in early September. The key component of The Merge sees miners no longer used as validators, replaced by stakers that commit ETH to maintain the network. Nansen’s report highlights that just over 11% of the total circulating ETH is staked, with…

Starbucks to Offer NFT-Based Loyalty Program Using Polygon’s Blockchain Technology

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Bitcoin proponent claims PoS rewards aren’t ‘yields,’ Vitalik snaps back

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Independent developer and Bitcoin proponent Udi Wertheimer created quite a buzz on Crypto Twitter earlier on Monday after he claimed that a proof-of-stake (PoS) based yield reward system for staking is more of a penalty for non-stakers. Wertheimer, who is a well-known Ethereum critic, believes that the PoS staking reward system isn’t exactly a yield reward. In PoS staking, a user cannot do anything with their staked ETH, while those who don’t stake their tokens and participate in other network activities aren’t rewarded. With thEthereum Merge just a couple of…