“Litecoin’s halving cycle has been one of anticipation, where it troughs and peaks ahead of its halving event,” Greg Cipolaro, global head of research at digital asset investment firm NYDIG, wrote in a report last week. “This is opposed to bitcoin, which has peaked well after its halving in its cycles.” Source
The bankrupt crypto exchange FTX has submitted a draft reorganization plan to the courts to pay back creditors. The draft plan, filed with a US bankruptcy court on Monday, calls for scrapping claims based on holdings of the disgraced company’s native token, FTT. The draft says the FTT-based claims against the exchange should be dropped due to the “equity-like characteristics” of its native token. It also calls for canceling any other equity interests. FTX plans to pay back other debtors and customers in cash. The company’s CEO, John J. Ray…
The latest sign of crypto going mainstream among traditional investors is the race heating up to launch the first exchange-traded fund (ETF) tied to Ethereum futures. In recent weeks, six companies have filed proposals with the Securities and Exchange Commission (SEC) to launch Ethereum futures ETFs. The Race To Launch An Ethereum Futures ETF Cryptocurrency ETFs track the price of the digital currencies they are tied to and they are not a new thing in the crypto industry. Bitcoin futures have gained popularity in recent years and are already being…
Despite using crypto wallets for almost a decade, just a few weeks ago I fell for a scam. Many times, I have made some kind of error on a transaction. Ledgers are immutable, but transactions need not be. Any contract worth trusting should be able to reverse transactions that can be proven erroneous or fraudulent. Reversible tokens exist and should be used far more widely, particularly for consumer applications. Combined with clear policies and adjudication, restitution is a requirement for any system that humans are expected to use. Source
X users who subscribe to the “Blue” service now have the option to hide their check mark, according to a recently updated Twitter Help article. Owner Elon Musk had previously warned that he wasn’t afraid to keep “blowing things up” as he and newly appointed X CEO Linda Yaccarino continue to fudge the subscription service features further. How it started: Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit. Power to the people! Blue for $8/month. — Elon Musk (@elonmusk) November 1,…
Metcalfe’s Law suggests that the more people who use a cryptocurrency, the more valuable and useful it becomes. Does Metcalfe’s law help explain Bitcoin’s price formation? Yes, Metcalfe’s Law can help explain Bitcoin’s price formation — to some extent. It is relevant to Bitcoin since it implies that the value and utility of the Bitcoin network rise exponentially with its number of users and participants (holders, investors and traders). The adoption of Bitcoin has been accompanied by a positive feedback cycle in which increased users have resulted in a rise…
The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) has introduced the experimental PArSEC platform. PArSEC — short for “parallelized architecture for scalably executing smart contracts” — is open source and developed with central bank digital currency (CBDC) in mind. The developers highlighted the platform’s speed. It performed 118,000 ERC-20 transactions per second on 128 hosts — exceeding public permissionless blockchains, they said. The platform was thus capable of handling cross-border contracting and could be used to innovate supply chains and compliance checks as well. PArSEC logo. Source: MIT…
Following a slight improvement in the broader cryptocurrency market, Optimism (OP) has posted positive gains today, August 2. The token is now over 10% higher than seven days ago. Optimism’s gain has placed it among the top-gaining coins today, with a nearly 3% gain in the last 24 hours. Optimism Price Action as Bulls Struggle to Prevail According to CoinMarketCap data, Optimism peaked at $1.6712 on Wednesday morning, an over 5% increase from its past-day price. However, due to the intense struggle between the buyers and sellers, OP has receded…
In this week’s newsletter, read about why the food and beverage nonfungible token (NFT) market is set to exceed $2 billion by 2032, check out the Bruce Lee avatar that has made its way into the metaverse, and how the British Museum uses the virtual universe to teach world history. In other news, find out how NFT-styled debit cards can be the future of Web3, and don’t forget this week’s Nifty News, featuring Yuga Labs acquiring a metaverse studio. Here’s how big food and beverage brands are using NFTs: Report…
Both blockchains reward “miners” who process transactions and secure the network, with a reward – a combination of variable transaction fees and a predetermined “subsidy” that gets halved approximately every four years. (With Litecoin, they happen every 840,000 transaction blocks, and the average time to generate each block is about 2.5 minutes.) Source CryptoCurrencyDigitalHalvingLitecoinMilestoneSilverUndergoes CryptoX Portal