Day: February 25, 2023

BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance – Altcoins Bitcoin News

boss

After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12 billion, compared to the meme coin’s $11.24 billion. BUSD Redemption: Almost $5 Billion Worth of Stablecoins Removed from Circulation in 12 Days Since Paxos announced on Feb. 13, 2023, that it would no longer issue the dollar-pegged crypto asset BUSD,…

Blockchain Association Rejects Court’s Securities Ruling on Private Blockchains

Following the decision of a federal judge to allow a lawsuit against Dapper Labs’ NBA Top Shot nonfungible tokens (NFTs) to go forward, the chief legal officer of the Blockchain Association stated that “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities. This statement was made in response to the judge’s decision to allow the lawsuit to go forward. U.S. attorney Jake Chervinsky issued a statement after a federal court refused a move to dismiss a 2021 lawsuit claiming Dapper…

An overview of peer-to-peer ridesharing using blockchain

Ridesharing applications like Arcade City, DAV Network, Ridecoin, and Jolocom are a few examples of platforms using peer-to-peer ridesharing technology. They demonstrate the potential of blockchain technology to revolutionize the ridesharing industry and create a more efficient, transparent and secure platform for riders and drivers. Arcade City Arcade City is a decentralized ridesharing platform that uses blockchain technology to connect riders and drivers. The platform enables payments between passengers and drivers via smart contracts and offers post-ride customer ratings. DAV Network Using this blockchain-based platform, anyone may create and manage…

Pharma companies team up with DeSci to accelerate scientific research

boss

Having emerged as a movement in the research community, Decentralized Science (DeSci) initiatives are progressing at a pace even big pharma cannot ignore. In fact, Pfizer is now the first pharmaceutical to vote on decentralized autonomous organization (DAO) proposals of German blockchain-based organization VitaDAO. The collaboration is part of VitaDAO’s latest fundraising disclosed in late January from strategic members, including Pfizer Ventures, Shine Capital and L1 Digital, among other longevity enthusiasts. The $4.1 million raised will be used to fund longevity research projects and accelerate the spinout of VitaDAO’s first…

Solana faces slowdown in block production, network restarted

boss

Solana network faced a slowdown in block production on Fev. 25 following the upgrade in the validator software. The incident resulted in disruptions to transactions and led validators to downgrade the software in an attempt to restore network performance.  The technical issue started around 6:00 AM (UTC), leading validators to downgrade to version 1.13 in an effort to restore transactions in the network. The downgrade, however, was not enough to restore Solana to normal operations, forcing the decision to restart the network on v1.13.6. The Solana network is currently restarting…

Crypto Market Slides as Total Value Locked in Defi Falls Below $50 Billion Mark – Defi Bitcoin News

boss

The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has fallen by 2.24% over the last 24 hours. During that same timeframe, the top smart contract token economy lost 3.7% against the U.S. dollar. Smart Contract Token Economy and Value Locked in Defi Dip Cryptocurrency prices are down this weekend, affecting the values of smart contract…

Global Crypto Rules to be Based on Coming FSB & IMF Synthesis Paper, India Says After G20 Meetings

India’s Central Bank Governor Shaktikanta Das said that there was a marked shift in perception around crypto assets by G20 nations in the past year which saw the collapse of several major crypto companies, including FTX, and a global contagion. There is a wide acceptance about risks involved in crypto assets now, Das said. Source BasedComingCryptoFSBG20GlobalIMFIndiaMeetingsPaperRulesSynthesis CryptoX Portal