Day: October 4, 2023

Blockchain finance to grow into $79.3B market by 2032

The global blockchain finance market — encompassing public and private blockchains, trading, payments, settlements and asset management — is well-positioned to grow into a $79.3B market by 2032. A report by Allied Market Research revealed that the blockchain finance market players are heavily exploring collaborations and acquisitions as a top strategy. COVID-19 pandemic-induced disruptions in traditional finance, coupled with the promise to reduce operational costs set the stage for the mainstreaming of the digital ecosystem. The public blockchain sub-segment accounts for dominant market share. Source: Allied Market Research In 2023, the…

Canadian-based Montréal Exchange (MX) Set to Launch Bitcoin Price Index Futures

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The new product is set to give investors exposure to the Bitcoin value movements on the underlying CoinDesk Bitcoin Price Index (XBX) and will only be settled in the United States dollar. A leading exchange in Canada, TMX Group, has announced plans to launch cash-settled Bitcoin futures on the Montréal Exchange (MX) soon. According to the announcement, the cash-settled Bitcoin futures will track the decade-old CoinDesk Bitcoin Price Index (XBX). Notably, the MX Bitcoin futures contract will settle in the United States dollars and will be cleared at the Canadian…

Sam Bankman-Fried Lost Millions Trading Before FTX’s Launch, Michael Lewis Claims

CryptoX – Cryptocurrency Analysis and News Portal Most of these were losing bets from the start with Alameda losing millions of dollars in its first months. It lost over $500,000 every day throughout one such month, Lewis wrote, while some trading funds had “simply vanished” due to poor fund management. Original Source The post Sam Bankman-Fried Lost Millions Trading Before FTX’s Launch, Michael Lewis Claims appeared first on CryptoX. CryptoX Portal

What is the CryptoNight mining algorithm, and how does it work?

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Understanding mining algorithms Mining algorithms are the backbone of blockchain-based networks like Bitcoin and other protocols.  In blockchain technology, mining algorithms are necessary for transaction verification and network security. A mining algorithm instructs miners’ computers to follow a set of rules to generate a valid block.  Proof-of-work (PoW) is the well-known consensus algorithm used by Bitcoin and other cryptocurrencies. In PoW, miners compete using computational power to find a specific hash value that will give them the new block. Application-specific integrated circuits (ASICs) are the specialized hardware necessary for miners…

BIS Unveils Project Atlas, a Data Platform Mapping Crypto Transfers

“Though relatively small compared with total on-chain network traffic, identified flows between crypto exchanges are significant and substantial economically,” said the study, which initially looked at transactions on the Bitcoin network. “The output of Project Atlas could serve as a starting point for preliminary assessments and inform the drafting of data reporting requirements and regulation of crypto market actors.” Source

Intel Plans IPO for Its Programmable Chip Unit, INTC Stock Price Jumps After Hours

Intel is making a strong push in the semiconductor industry with FPGAs, which can be highly flexible, efficient, and used in various industries, are in high demand. Chip-making giant Intel is planning to treat its programmable chip unit as a standalone business. As a result, the company is going to spin out an Initial Public Offering (IPO) for the same. Following the announcement on Tuesday, the stock price of the chipmaker saw a 2.3% increase in after-hours trading. Intel’s Programmable Solutions Group (PSG) is set to transition towards independence, with…

30-Year Mortgage Rates Spikes to Two-Decades High as Fed Fights to Lower Inflation

The affordability of funding new houses is expected to strain the already heavily taxed small businesses and individuals. At current 30-year mortgage rates of about 7.72 percent, it would cost a borrower about $1,429 every month to service a $200,000 housing plan, thus putting the total interest on the mortgage at about $314,325. The rising 30-year mortgage rate continues to put more strain on borrowers as the high inflation bites further into investors’ pockets. According to market aggregate data, the 30-year mortgage rate has risen from around 3 percent in…