Month: September 2023

US Senator says Bitcoin mining could boost energy grid resilience

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Texas Senator Ted Cruz has voiced support for Bitcoin (BTC) mining operations in the U.S., emphasizing its potential to enhance the resiliency of energy grids during times of crisis. Cruz, a Republican, expressed his bullish stance to Fox News Radio. Texas is a hub for jobs, innovation, and freedom—making it the natural oasis for Bitcoin mining. These operations can improve our grid resiliency since they can shut off during inclement weather and free up electricity to heat or cool homes. pic.twitter.com/rpU5i3v03G — Senator Ted Cruz (@SenTedCruz) September 7, 2023 Cruz…

Solana falls 6% amid fears of FTX dump — but there’s a catch

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The price of Solana (SOL) has plunged more than 6% the last 24 hours, amid fears that bankrupt crypto exchange FTX may soon liquidate its significant portions of the token and other Solana-affiliated crypto assets.  The price of Solana has fallen 6% to $18.38 in the last 24 hours. Source: CoinGecko According to a combination of data from Solscan, which has added up the value of the three publicly available FTX cold storage wallets, the FTX estate holds a combined $1.5 billion in crypto assets on the Solana network. Of…

Solana Takes Hit and Could Dive To $15

Solana is gaining bearish momentum below $20 against the US Dollar. SOL price is struggling and could drop further toward $16.50 or even $15.00. SOL price is showing bearish signs below $20.00 and $20.50 against the US Dollar. The price is now trading below $20 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to down if there is a close below the…

Arbitrum’s fraud proofs haven’t been used in the two years since it launched

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Not a single fraud proof has been submitted on Arbitrum since it first launched its mainnet with the built-in security feature in August 2021, according to Ed Felten, co-founder and chief scientist of the Arbitrum-building Offchain Labs. Operating as an Ethereum layer-2, Arbitrum’s interactive, multi-round fraud proofs work by allowing a layer-1 verifier contract to decide whether the challenger’s fraud-proof submission is valid. If so, the fraudulent validator’s stake is slashed. Fraud proofs are submitted by challenging validators when it considers another validator to have fraudulently or otherwise incorrectly assembled…

Coinbase issues clarification after reports of it ceasing services in India

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Coinbase has issued a clarification after a circulating report suggested that it would soon halt all operations for its Indian customers. According to a Sept. 11 report from TechCrunch, Coinbase India users were reportedly warned via email that all services would be discontinued by Sept. 25, and were urged to to remove any funds that remained on the exchange. Coinbase said in an email that it would stop providing all trading services to users in India after September 25 and advised users to withdraw all funds in their accounts. Additionally,…

Coinbase responds to reports suggesting it’s ceasing services in India

Coinbase has provided information that seemingly contrasts a media report suggesting that it would soon halt all operations for its Indian customers. According to a Sept. 11 report from TechCrunch, Coinbase India users were reportedly warned via email that all services would be discontinued by Sept. 25, and were urged to to remove any funds that remained on the exchange. However, it is understood that the notice was not aimed at all Indian customers and was instead aimed at those breaching the exchange’s standards.  “We are reaching out to inform…

Avalanche’s HyperSDK blockchain upgrade hits 143K TPS on testnet

Smart contract layer-1 blockchain network Avalanche’s testnet has reportedly hit over 140,000 transactions per second during testing of its HyperSDK blockchain upgrade. Avalanche is currently testing a framework for building high-performance Virtual Machines (VMs) from scratch on the network. According to Ava Labs, HyperSDK is structured so that developers can “plug into a lightning-fast execution environment without writing massive amounts of code from scratch.” This enables the simplification and acceleration of custom VM development, making it easier for developers to launch optimized blockchains. HyperSDK reached a whopping 143,322 transactions per…

Bitcoin Price Key Indicators Suggest A Strengthening Case For Bearish Break

Bitcoin price is struggling to recover above $26,500. BTC is clearly struggling and there is a risk of a downside break in the near term. Bitcoin is facing a lot of hurdles above the $26,200 resistance zone. The price is trading well below $26,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could take a major hit if there is a close below $25,350. Bitcoin…

Is 2023 the year genuine cross-chain interoperability takes off?

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The future of blockchain will be an interoperable one — with the death of “chain tribalism,” the proliferation of “hundreds of chains” along with an end to cross-chain bridge hacks, according to executives at Korea Blockchain Week. Backing up the claims are several products slated for release before the end of the year that could see blockchain interoperability efforts move away from current solutions which execs say don’t make sense and are a “honeypot” for hackers. Vance Spencer, the co-founder of the crypto-focused venture firm Framework Ventures told Cointelegraph at…