Day: May 27, 2023

MakerDAO’s new proposal to boost DAI savings rate to 3.33%

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MakerDAO, an Ethereum-based DeFi protocol, is preparing for a crucial vote on a proposal to increase the Dai stablecoin (DAI) savings rate (DSR) to 3.33%. If implemented, this change would likely have far-reaching effects on borrowing rates across the DeFi sector. The Maker team recently tweeted that a new DAI Savings Rate (DSR) hike, from 1% to 3.33%, will be initiated by a future executive vote. The Maker Protocol ecosystem relies heavily on the DSR, which allows…

Ledger halts recovery service, Web3 in Hong Kong, and another CEX goes down

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Another centralized exchange (CEX) bites the dust, with Hotbit announcing it will close operations due to adverse business conditions. As is common among CEX collapses in recent months, the crypto firm mentioned FTX, the ongoing banking system crisis, and even a probe, as reasons for its cash flow problems. Also facing a tough time is wallet provider Ledger. The company decided to postpone its controversial recovery service amid community backlash. Security reputation is critical for a crypto wallet provider, but Ledger’s dilemma may be beyond a public relations crisis. The…

XRP is up 2% amid decentralization discussions

Ripple, the fintech company behind XRP, recently responded to discussions regarding the decentralization of the XRP Ledger. The price of XRP is up by over 2% today. Ripple has recently addressed concerns regarding the governance of the XRP Ledger. The discussion primarily centers around the role of the XRPL Foundation (XRPLF) in validating definitions within the default Unique Node List (dUNL), a crucial component of the XRP Ledger’s nodes list. The XRPLF is an entity that plays a significant role in maintaining the integrity and decentralization of the XRP Ledger. …

How are NFTs used in fashion and wearables?

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The use of phygital NFTs, which are NFTs that are paired with physical items, is a growing trend among fashion brands that are looking to create a unique shopping experience. Many fashion brands that use this strategy provide limited-edition NFTs that are virtual versions of physical items, such as NFT sneakers and jackets. The NFTs, which are bundled with physical products, enable customers to possess and wear the actual item while having a digital version of the item on the blockchain. Among prominent phygital NFT events that have successfully demonstrated…

Stargate community proposes removal of Fantom USDC pool to mitigate risks

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Stargate, the LayerZero cross-chain bridge protocol, has responded to the recent “force majeure” incident impacting Multichain and the stability concerns surrounding anyUSDC, Fantom’s main USDC asset.  To address these concerns and safeguard the ecosystem, Stargate has introduced a comprehensive proposal and initiated a single-choice voting system for risk mitigation and ecosystem integrity. The voting period for the proposal began at 3:47 AM on May 27, 2023, and will end at 3:47 AM on May 30, 2023. As part of the proposal, the initial step involves ceasing STG emissions on the…

Dubai deepens crypto ties with proposed Bitcoin Tower Hotel

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Italian developer, Salvatore Leggiero, unveils plans for the Bitcoin Tower, an hotel chain in Dubai that combines blockchain technology, artificial intelligence, and material sustainability. It will offer guests the opportunity to earn interest on their suite rentals. Leggiero envisions a hotel chain that embraces cutting-edge technologies like blockchain and artificial intelligence (AI) and prioritizes material sustainability. The project aims to celebrate bitcoin’s (BTC) significance, prominence, and values. The team claims that its unique approach to pricing…

Nigerian crypto company suspends withdrawals after BTC and naira compromise

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Patricia, a Nigerian platform for gift card and crypto trading, has encountered a security breach, prompting immediate measures to safeguard its users. As a precautionary step, the platform has temporarily suspended fund withdrawals. The company announced that it was a victim of a security breach that compromised its Bitcoin (BTC) and naira assets. In the message it sent to users, it said other cryptocurrencies and customer funds were unaffected by the breach. However, customers will be unable to withdraw funds from the platform as it is “undergoing internal restructuring.” Although…

Bitcoin holds 200-week average as trader says ‘inflection point’ is here

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Bitcoin (BTC) held its most recent gains into May 27 as traders called for a change in “bearish” market sentiment. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Trader awaits “pretty major move” for BTC price Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it entered the weekend at around $26,700. The week’s macroeconomic data from the United States had ended with a surprise, as a new Personal Consumption Expenditures (PCE) index print showed the economy weathering tighter financial conditions much better than expected. Markets then began to…

Bitcoin holds 200-week average as trader says ‘inflection point’ is here

Bitcoin (BTC) held its most recent gains into May 27 as traders called for a change in “bearish” market sentiment. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Trader awaits “pretty major move” for BTC price Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it entered the weekend at around $26,700. The week’s macroeconomic data from the United States had ended with a surprise, as a new Personal Consumption Expenditures (PCE) index print showed the economy weathering tighter financial conditions much better than expected. Markets then began to…

How to learn JavaScript using ChatGPT

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Imagine yourself as a future programmer eager to learn JavaScript, one of the most popular languages for web development. If you are looking for an interactive and collaborative way to enhance your understanding of JavaScript concepts and improve your coding skills, ChatGPT, a language model, may help you in this endeavor. One can converse with ChatGPT as their virtual learning partner, asking questions and looking for explanations about essential JavaScript concepts, such as variables, data types, operators and control flow diagrams. This article will explain how to learn JavaScript using…