The upgrade will provide the scaling needed to support millions of users on layer-2 blockchains, making it a more “fitting distributed database for other blockchains,” the report said. The improvements are expected to bring substantially more users into the Ethereum ecosystem and should expand the network’s total addressable market (TAM). Source link
Alexander Razuvaev, a notable Russian economist and member of the supervisory board of the Guild of Financial Analysts and Risk Managers, recently made predictions concerning the future of Bitcoin following the onset of a Russian CBDC. The economist argued that the emergence of digital currencies, such as the digital ruble and other central bank digital currencies (CBDCs), would lead to a significant decrease in their value. Despite this, Razuvaev clarified that cryptocurrencies would not disappear entirely but would become less prominent. Razuvaev highlighted the current state of the cryptocurrency market…
As blockchain permeates finance over the coming years, we’ll see diverse technical architectures emerge across the centralization spectrum, trying to strike the right balance between openness and security. If we get the formula right, blockchain could unlock immense positives for institutions, consumers, and society — efficiency, transparency, scalability, and more. Source
The crypto firm’s boss, Barry Silbert, also filed a motion to dismiss the Attorney General’s accusation that he concealed losses at the firms and so cheated customers and investors. Source
The city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul Chan stated that the city would expedite a Web3 sandbox for stablecoins and expand the digital yuan pilot as part of its digital finance policies. […] Source CryptoX Portal
“They must constantly push to acquire more hashrate as well as increase the efficiency of their hashrate, acquire lower-cost energy from cheaper sources, and expand their infrastructure to house any new machines,” Gray wrote. At the same time, every other miner is also bidding for the same resources. Source
Elvira Nabiullina, Governor of the Bank of Russia, stated that the current pilot test of the Russian digital ruble was “on track,” with several operations being tested, including opening wallets, and interactions with smart contracts. Nabiullina revealed that over 25,000 transactions were registered, and confirmed the pilot expansion later this year. Russian Digital Ruble Pilot […] Source CryptoX Portal
“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Kremlin aide Yury Ushakov said in an interview with TASS. Source
Bitcoin (BTC) wrapped up the week at approximately $63,100, marking a notable 22% surge from the previous week’s closing price of around $51,725. The week witnessed vigorous price action, particularly in the first half, as BTC experienced a substantial appreciation from Monday to Wednesday, peaking at $64,000 on Wednesday. Subsequently, the price stabilized in the latter half of the week, closing at about $63,100. As of the time of this writing, BTC has regained momentum and is currently trading above $65,000. The BTC Spot ETFs continue to exhibit strong momentum,…
Nearly two decades before the Bitcoin network revolutionized the digital world, Nobel Laureate Milton Friedman foresaw the emergence of digital currencies. His prediction of an electronic currency facilitating anonymous transactions has become a cornerstone in understanding the evolution of digital finance. Ahead of His Time: How Milton Friedman Envisioned Bitcoin Before the conceptualization of Satoshi […] Original