Day: May 8, 2023

Bitcoin Fees Hit 2-Year High As BRC-20 Tokens Gain Steam

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Summary: The average cost of sending a single transaction on Bitcoin’s blockchain soared to almost $20, its highest point since April 2021. It seems that increased demand for BTC blockchain space was triggered by heightened activity on the Ordinals protocol and tokens issued using the BRC-20 standard. Binance was forced to halt BTC withdrawals twice on Sunday as network congestion peaked, although the crypto exchange later resumed operations after moving $4.4 billion in assets. Bitcoin (BTC) transaction fees rose to their highest point in two years amid growing interest in…

Minister proposes government services paid in crypto

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Liechtenstein Prime Minister Daniel Risch announced plans to accept Bitcoin (BTC) as payment for government services. As reported in local news, the micro-European nation continues to embrace blockchain technologies. Risch, who also serves as finance minister, is quoted as saying: “A payment option with Bitcoin is coming.” However, he did not give a timeframe. Moreover, the principality is unlikely to accept Bitcoin and “hodl” (hold onto) the satoshis it receives. Instead, it will accept deposits in Bitcoin and immediately exchange them for Swiss francs, the national currency. The direct exchange…

BTC Extends Declines, as Markets Continue to React to Nonfarm Payrolls – Market Updates Bitcoin News

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Bitcoin fell below $28,000 to start the week, as markets continued to react to last Friday’s United States nonfarm payrolls (NFP) report. The payrolls report came in at 250,000 versus expectations of 180,000 jobs. Ethereum was also lower, as prices fell back below $1,900. Bitcoin Bitcoin (BTC) moved lower to start the week, as cryptocurrency markets continued to react to the latest nonfarm payrolls report. The number of jobs added to the U.S. economy came in higher than expected, in many’s eyes justifying the Federal Reserve’s decision to hike interest…

DISH Q1 2023 Results Sees Company Miss Estimates on Earnings & Revenue

Satellite TV provider DISH fell short of EPS and revenue expectations for Q1 2023 amid its sustained stock devaluation troubles.  DISH Network Corporation (NASDAQ: DISH) has published Q1 2023 numbers that missed earnings per share (EPS) and revenue estimates. The satellite television and telecommunications company’s reported EPS for the first quarter was $0.35 compared to the consensus estimate of $0.36. Also, DISH’s revenue came in at $3.96 billion versus the $4.06 billion analysts expected for the same period. The company’s latest revenue haul is lower than the $4.33 billion it…

What industries will be affected?

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Artificial Intelligence (AI) has been growing at an unprecedented rate in recent years and is being integrated into a range of industries. But its rapid growth has sparked concern over job losses, as many tasks previously performed by humans could soon be automated by AI. For example, on May 1, IBM CEO Arvind Krishna told Bloomberg that 7,800 jobs at the firm could be replaced by AI and automation over the next five years, which represents approximately 30% of its workforce. While AI has the potential to improve efficiency, increase productivity…

Zero-Knowledge Privacy Startup Webb Protocol Raises $7M

Webb offers a cross-chain bridge protocol that seeks to provide a new privacy standard for cross-chain applications, covering all assets, data and locations. The protocol is backed by zero-knowledge proofs, a type of cryptography that mathematically validates transactions. The startup plans to expand to offer a cross-chain messaging system that can test data stored within the system. Source

Human ID project ‘Worldcoin’ launches gas-free wallet only for humans

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Worldcoin, a project to identify humans and distinguish them from artificial intelligence, has launched a gas-free crypto wallet for verified humans, according to a May 8 announcement.  The new wallet, called “World App,” works on Android and iOS operating systems. It currently runs on the Polygon (MATIC) network, allowing users to hold and transfer United States Dollar Coin (USDC), Dai (DAI), Ether (ETH), Worldcoin (WLD) and Wrapped Bitcoin (WBTC). World App uses the project’s “World ID” system to discriminate between humans and bots. Users who want to take advantage of…

Sam Altman’s Crypto Project, Worldcoin, Releases First Major Consumer Product

A Beta version of the World App has already been available to World ID holders for several months. “Since its initial debut, 1.5 million people have joined the beta, more than 500,000 of which use it every month,” Tools for Humanity said in a statement. “On a typical day, it sees around 60,000 transactions and 25,000 World ID checks from over 100,000 people around the world.” According to Tools for Humanity, its new wallet app is “already one of the most popular ways to access crypto today.” Source

South China Morning Post’s NFT Spinoff Firm Artifact Labs Raises $3.25M Round

“It’s not about creating new IPs for speculation – for example NFT hype projects – it’s about driving new engagement with historically significant collections by using Web3,” Phillip Pon, CEO of Artifact Labs, said in a release. “We want to carve new space in the younger public’s consciousness for historical brands and artifacts…while supporting these important organizations with new revenue streams to fund their preservation work, we are also solidifying immutable on-chain data preservation through NFTs.” Source