Day: March 6, 2023

EOS Unveils Ecosystem Incentivization Ahead of EVM Launch

Layer-1 blockchain protocol, EOS has unveiled plans to incentivize its developer community as it looks to welcome its long-awaited Ethereum Virtual Machine (EVM) integration. According to a CoinDesk report, the proposed cash incentive to build EVM-compatible applications on the EOS blockchain will range from $5,000 to $50,000. However, this will be dependent on the size and scope of the initiative. EOS is one of the legacy protocols which came into the limelight back in 2018 through its Initial Coin Offering (ICO) which ultimately helped it generate close to $4 billion…

What are artificial intelligence (AI) crypto coins, and how do they work?

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AI is a branch of computer science and engineering. AI systems evaluate a lot of data using algorithms and statistical models and base their predictions or choices on those analyses. The study of intelligent machines that can carry out tasks that traditionally require human intelligence, such as speech recognition, decision-making and language translation, is known as artificial intelligence (AI). AI comes in many different forms, such as rule-based systems, machine learning (ML) and deep learning. While machine learning systems learn from data and can get better over time, rule-based systems…

BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations – Market Updates Bitcoin News

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It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten cryptocurrencies by market valuation have changed since the redemptions. Presently, there are only two stablecoins in the top ten standings, and the Okx exchange token, OKB, has joined the pack. 2023 Records Changes in the Top 10 Cryptocurrencies by Market Capitalization Every year, the top ten cryptocurrencies by…

Is the IMF shutting the door prematurely on Bitcoin as legal tender?

There’s been little sunlight this crypto winter, so it may seem odd to present the “Bitcoin as legal tender” argument again. That is, will or should any country — other than El Salvador and the Central African Republic (CAR), which have already done so — declare Bitcoin (BTC) an official national currency? The International Monetary Fund (IMF) raised the issue again last week in a paper putting forth nine crypto-focused policy actions that its 190 member countries should adopt. First on its list of “don’ts” was elevating crypto to “legal…

President’s directive canned by Nigerian supreme court

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The supreme court of Nigeria has ruled that the old N200, N500, and N1,000 naira notes remain in circulation till Dec. 31, 2023, effectively nullifying the naira redesign previously announced by Nigerian President Muhammadu Buhari. The introduction of redesign sought to phase out the use of the old naira notes.  A seven-member panel of the court led by John Okoro said in a unanimous judgment that President Buhari issued the directive without consultation. The court said the federal government ought to have consulted with the state government through the relevant…

Apple Set to Launch Several Products Including New iMac Later this Year

Apple is developing its new iMac line, which posits to be one of its most powerful computers on the market.  Apple (NASDAQ: AAPL) appears set to launch a range of desktops and laptops, including a new iMac. The California-based consumer electronics giant also plans to release new updates for iOS and iPadOS amid a wave of executive departures. Other Apple developments include an antitrust headway and the abrupt closure of a store in North Carolina following shootings. The new Apple iMac is reportedly in the advanced stages of development, known as engineering validation…

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Babel wants to repay creditors via special ‘recovery coins’: Report

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Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning to build a new decentralized finance (DeFi) project in order to generate revenue to repay debts owed to creditors, Bloomberg reported on March 5. Called Hope, the potential DeFi project aims to mint a new stablecoin serving as a “recovery coin” for Babel, according to Yang’s restructuring proposal. Unlike major stablecoins like Tether (USDT) or USD Coin (USDC), Hope’s namesake…

Amazon’s NFT Platform Could Go Live Next Month on April 24

Amazon CEO Andy Jassy is very much confident about the growth of the NFT space and we might soon see NFTs trading on Amazon this year. E-commerce giant Amazon.com Inc (NASDAQ: AMZN) is reportedly gearing up for the launch of its NFT platform very soon. As per details the launch shall happen next month on 24th of April. An exclusive report from The Big Whale shows that Amazon is getting ready to sell non-fungible tokens (NFTs) on its website. From the time of launch, nearly fifteen collections will be available on…