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Showing posts from January 19, 2021

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Rice-Based Stablecoin Is Being Launched in Indonesia

PRESS RELEASE. Penjaga Lilin Nusantara, an Indonesian Cooperative in Malang- East java is setting up Ricetron.com a Tron-based DeFi to tokenized rice-based stablecoin. The website aims to invite crypto enthusiasts to stake Tron and mint RET (Rice Economy Token), a governance token that will fund RIC (Rice Inventory Coin) stablecoin. RET token holders will benefit from 30% of all transaction fees and profit-sharing of RIC DeFi, where once the DeFi platform running will be distributed back as Protégé Dividend to RET token holder wallets. Total supply is 269,000 RET with only 190,000 RET minted through staking. It is a TRC-20 token, using a TRX blockchain where the speed and the fee of transaction are much better compared to ERC based token. Indonesia uses BULOG (state-owned logistic company) to stabilize staple prices, which mostly focuses on rice. Due to lack of data reading skills, BULOG wastes 30,000 ton decayed rice every year, which amounts to almost 30 Million USD/year of the...
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Perpetual Protocol emerges as sixth-largest DEX after just one month

Despite executing 179,000 transactions during its first month of operation, the xDai-powered Perpetual Protocol spent just $183 on gas fees. Perpetual Protocol, a DeFi project offering decentralized perpetual contracts using the layer-two Ethereum scaling solution xDai, has emerged as the sixth-largest DEX by weekly trade volume after operating for only one month. Based on data from Dune Analytics shared by Perpetual Protocol , the DEX’s weekly trade volume of more than $299 million would rank the project above the likes of Synthetix, dYdX, and Kyber, and below Balancer. The milestone was shared in a blog post celebrating the project’s first month of operation — a period in which the DEX drove more than $500 million in total volume and generated more than $500,000 in trading fees. All trading fees generated by the protocol are currently sent to an insurance fund designed to secure the protocol, with the project planning to divert 50% of fees to PERP stakers once its staking pool ...
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Former Canadian Prime Minister Mentions Bitcoin Alongside Gold as Alternative Reserve Currencies

Former Canadian prime minister Stephen Harper has mentioned bitcoin alongside gold as assets that can possibly act as alternative reserve currencies. However, the former premier still argues that despite the growing questions about the dollar’s reserve status, he does not see any real prospect of that changing anytime soon. Instead, he envisions these alternatives becoming part of a basket of reserves in which the dollar still dominates. Experiences From the 2008 Financial Crisis Speaking in an interview , the former premier uses Canada’s experiences in the aftermath of the 2008 financial crisis to illustrate why he thinks the dollar’s reserve currency status is not under threat. According to Harper, after the financial crisis left the U.S. economy in a worse off position, Canada, on the other hand, emerged from the crisis relatively unscathed. This better economic standing led to the increasing demand and subsequent appreciation in the value of the Canadian dollar. Yet as Harper e...
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Thailand stock exchange to open digital asset trading... without crypto?

Thailand’s stock exchange doesn’t want cryptocurrencies included on its new digital asset trading platform. The Stock Exchange of Thailand, or SET, is planning to launch a digital asset trading platform in the second half of 2021, but it will not include cryptocurrencies. The headline in The Bangkok Post “Digital asset trade imminent" appears at first glance to be bullish for the industry in the region but the report notes the bourse does not want to include cryptocurrencies: “The SET says cryptocurrencies do not meet its product qualifications and could facilitate money laundering, while causing harm to the bourse's image as a ‘high trust’ exchange.” The exchange has laid out three criteria for listing asset backed tokens from approved companies; firstly the token must have an underlying asset that investors can “analyze on value”. It must be a “valuable product that supports economic activities”, and the product must “have benefits to society and the environment”. Ka...
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Ford, BMW back blockchain 'birth certificates' to combat used car fraud

A global automotive consortium is leveraging blockchain-based “birth certificates” to track the purchase and maintenance history of secondhand vehicles. The Mobility Open Blockchain Initiative, or MOBI, a non-profit consortium of the world’s top vehicle manufacturers including Ford and BMW, has launched an initiative to combat fraud in the secondhand markets with blockchain-powered “birth certificates.” The initiative will leverage blockchain to track the registration and maintenance history of vehicles using MOBI’s second vehicle identification standard, “VID II.” The system will help reduce fraud in the used vehicle markets, with an announcement stating :  “Vehicle registration on blockchain allows formerly disconnected vehicle registration systems between states and countries to connect using a secure, shared, and trusted ledger. Maintenance traceability will provide a tamper-proof history to buyers, regulators, and insurers, therefore reducing vehicle information asymmetry....
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Bitcoin node count hits new all-time high

Amid increasing distrust of custodial solutions and recent upgrades to Bitcoin Core, more Bitcoiners are starting to run their own nodes. The number of Bitcoin nodes is at an all-time high, with 11,558 reachable nodes currently active, according to Bitnodes.io . Another Bitcoin network statistics tracker, coin.dance , calculates the total number of Bitcoin nodes at 11,613, which is just above the previous high of 11,250 set one year ago this month. The Bitcoin Core software update 0.21.0 was released for public download on Jan. 14 2021 and is currently the fourth most utilized version of the software among nodes There are currently 619 nodes running this version of the software, which represents about 5.5% of all nodes running some version of Bitcoin Core. Almost 5,000 nodes are still running the second-most current release of Bitcoin Core, 0.20.1, which remains the most popular. #Bitcoin node runners, consider upgrading your node to the latest version 0.21 to support Tor v3. ...
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Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurrency Regulation

Responding to European Central Bank (ECB) President Christine Lagarde’s recent remarks about bitcoin, the chief economist at investment firm Tressis said what Lagarde implied was “outrageous” and “dangerous” for cryptocurrency regulation. Economist Says Governments Would Be Happy to Implement Strict Crypto Regulations Daniel Lacalle, fund manager and chief economist at Tressis Gestion, commented on Christine Lagarde’s recent remarks about bitcoin and crypto regulation in an interview with NTD Business on Sunday. Tressis Gestion provides investment management, financial planning, investment strategies, and advisory services to customers in Spain. “Obviously, Ms. Lagarde does not have the power to implement legislation relative to cryptocurrencies,” he began. However, the economist admitted that the ECB president “is an important voice in Europe and a very important voice in the financial world. So, her comments are heard.” Lacalle believes that “numerous governments would be very ...
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Is $1 billion a day in volume the 'new normal' for Uniswap?

Uniswap could be averaging $1 billion in daily trade volume soon with the majority of trades occurring between Ethereum and stablecoins. Leading decentralized exchange, or DEX , platform Uniswap continues to lead the sector as it nears an average of $1 billion a day trading volume for the month of January. Only two-thirds of the way into the month and the platform has already surpassed the previous monthly trade volume record of $15.3 billion set in September during the DeFi boom. The DEX passed $17 billion as of this morning and is on track to surpass $25 billion by the end of January with a daily average of $855 million. Uniswap traders are spoilt for choice with 1,558 coins traded in more than 2,400 pairs, however the majority tend to favor less risky trades. Trading between stablecoins, such as USDC , Tether and DAI, against ETH , made up 45% of the $1.1 billion traded in the last 24 hours. On December 15, Uniswap founder Hayden Adams tweeted that the platform had passed $...
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Asia accounts for almost half of global crypto trading: Messari report

Crypto activity in Asia is equivalent to that in the U.S. and Europe combined. Research by Messari has delved into the Asian crypto landscape and revealed the region accounts for almost half of all digital asset trading, and boasts six of the top ten largest crypto unicorns. The report, penned by research analyst Mira Christanto, confirmed that China, Japan, Korea, Hong Kong, and Singapore, are market leaders with deep pools of liquidity, adding that other Asian countries also have great potential to scale. “With Asia accounting for 60% of the world population, infrastructure companies across the world are interested in tapping the growing market.” China also dominates in terms of whale activity and larger trades, the report added; “East Asia (mostly China) is dominated by larger trades with 90% of all volumes above $10,000. East Asia engages in more short-term trades over a wider variety of assets, compared to North America where the focus is more on long-term holdings of Bitcoi...
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Ripple pins hopes on Biden administration as co-founder sells 28.6M XRP

General counsel for Ripple Stu Alderoty predicted Joe Biden’s administration would likely “help level the playing field” for crypto. After ending 2020 facing a lawsuit from the U.S. Securities and Exchange Commission under Donald Trump’s administration, Ripple’s leadership is looking to the new year and a new U.S. President to bring a change in regulations more favorable to the firm. According to a post on the Ripple website featuring comments from key executives, the firm is predicting the incoming Biden administration will most likely “bring a renewed focus on regulation and enforcement” in the crypto space. “As we’ve seen, a lack of a clear regulatory framework over the last four years in the U.S. especially has left fintech and blockchain players in a state of limbo,” the post said. “Other countries like the UK, Switzerland, Singapore and Japan are miles ahead.” Both Ripple CEO Brad Garlinghouse and co-founder Chris Larsen have been vocal about their criticism of the SEC’s po...
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11 indicators that suggest Ether’s new ATH is just the beginning

Many analysts predict that a parabolic ETH rally may be imminent, pointing to Ethereum’s surging DeFi ecosystem and network fundamentals. With Ethereum inching its way into new all-time highs over the past 24 hours, a number of onlookers believe Ether could quickly surge through the $1,400 price range. Ethereum’s robust fundamentals are strengthening the conviction that Ether might sail past resistance in the mid-$1,400s, with many pointing to Ethereum’s ever-growing DeFi ecosystem as the force most-likely to propel ETH into price discovery. On Jan. 19, Spencer Noon of crypto VC fund Variant shared 11 indicators he believes suggests that a parabolic bull-run is nigh. He pointed to the fact taht more than one million unique addresses t have interacted with DeFi over the past eight months. Unique DeFi wallets: Dune Analytics Noon adds that monthly DEX volume is currently sitting at an all-time high of more than $30 billion , while more than $20 billion has been deposited into ...
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Here’s why HedgeTrade (HEDG), The Graph (GRT) and UMA are rallying

Strong use cases and future growth possibilities appear to be pushing the price of HedgeTrade, The Graph and UMA higher. Bitcoin ( BTC ) has been consolidating for the past few days as the bulls and the bears battle it out for control over the largest cryptocurrency by market capitalization. Currently, Bitcoin looks like it is steadily losing its upward momentum but Vailshire Capital Management founder and CEO Jeff Ross has maintained his bullish stance and believes the uncertainty will resolve to the upside.  Crypto market data daily view. Source: Coin360 While Bitcoin consolidated, the action shifted to Ether ( ETH ), which made a new all-time high , eclipsing its 2018 high at $1,428. This suggests that the crypto markets remain in a firm bull grip. The rally from the leaders is usually followed by strong breakouts from tokens that are likely to benefit in the current environment or have come up with positive developments that have caught trader’s attention. Let’s insp...
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Crypto winter: Bitcoiners use mining rigs as heaters as temperatures drop

Bitcoiners have been using the excess heat produced by their mining rigs to stay warm this season. Bitcoiners mining cryptocurrency at home this winter have been staving off freezing temperatures by putting them to good use as heaters. According to the Wall Street Journal, crypto miners in France and the United States report their overall heating costs have dropped  — even if the temperature in their homes often gets far above what they’d prefer. Thomas Smith, a photographer based in California, has been using mining rigs to heat his home since at least 2019. He’s also been exploring some novel uses, including employing the miners to warm up his two chickens in an outdoor coop and to grow tomatoes in his greenhouse as temperatures started plunging at night. It’s not the first time the idea has been implemented, with reports in 2018 that the co-founder of Czech cryptocurrency exchange NakamotoX had been growing ‘cryptomatoes’ in five-acre greenhouse using the excess heat fro...
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Armed robbers steal $450K from Hong Kong crypto trader

A gang of four robbers has reportedly stolen about $450,000 from a crypto trader in Hong Kong. Robbers posing as cryptocurrency buyers have stolen about 3.5 million Hong Kong dollars ($450,000) from a woman in Hong Kong. According to a report by the South China Morning Post on Tuesday, the Hong Kong police are currently conducting a manhunt for the gang. A spokesperson for the police revealed that the group operated by having one member complete multiple transactions with the victim, presumably to win the target’s trust. Indeed, an investigation into the matter showed three previous deals ranging between $77,000 and $90,000. On the day of the robbery, the other members of the gang rushed to the scene as soon as their colleague received the Tether tokens in exchange for the $450,000 payment. Armed with knives, they proceeded to lock the woman in the office where the deal took place but not before snatching her iPhone and the $450,000. According to the report, the woman was able...
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Dubai financial regulator working on regulations for cryptocurrencies

The Dubai Financial Services Authority is reportedly looking to introduce two crypto-related consultation papers as part of its business plan in 2021. The Dubai Financial Services Authority, the financial regulatory agency for the special economic zone, the Dubai International Financial Centre, is looking to enhance local cryptocurrency-related regulations. The DFSA is planning to introduce a regulatory framework for diverse digital assets as part of its 2021–2022 business plan released on Jan. 18. According to the DFSA, the upcoming crypto framework will further expand the DFSA’s regulation of digital asset issuers and associated trading platforms. The framework will include a number of digital asset types like tokenized securities and cryptocurrencies like Bitcoin ( BTC ): “We will build upon recent achievements in this space over the business planning period through developing a regulatory regime for digital assets (such as tokenised securities and crypto-currencies), having a...
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Bible quotation found in Bitcoin block number 666,666

A Biblical message was unearthed in block number 666,666 of the Bitcoin blockchain: "Do not be overcome by evil..." A hidden Biblical message has been found embedded in a transaction in block number 666,666 of the Bitcoin ( BTC ) blockchain. The message is a quotation from the sixth book in the New Testament, the Epistle to the Romans. First spotted by @em zy@bitcoinhackers.org , it reads: “Do not be overcome by evil, but overcome evil with good - Romans 12:21.” Biblical reference in Bitcoin block 666,666. Source: Bitcoinhackers.org The transaction in question saw an equal amount of Bitcoin — 432,100 satoshis ($160) — sent to two different addresses. The first several characters of those addresses contain the words “God” and “Bible.” Addresses outputs.  Source: Blockchain.com Whoever sent the transactions paid over $50 in fees, equating to five times more than Bitcoin’s peak average transaction fee on the day, according to Bitinfocharts.com . This implies the send...
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UK health service to use blockchain to monitor COVID-19 vaccine storage

The U.K.'s National Health Service will implement an IoT solution built on the public distributed ledger network Hedera Hashgraph in order to monitor the storage of its COVID-19 vaccine supplies. Public distributed ledger network Hedera Hashgraph is being used by a United Kingdom-based digital asset tracking provider called Everyware to provide the country's National Health Service with a system for managing its COVID-19 vaccine storage. Several of the widely-used COVID-19 vaccines being administered at present require ultra-cold storage conditions in order to remain effective, presenting a significant challenge for public and private health services around the world.  To ensure that COVID-19 vaccine maintenance can be securely and transparently monitored by participants in the distribution process in the U.K., Everyware will provide several NHS facilities with its asset tracking and monitoring software, using the Hedera Consensus Service as a secure, distributed trust lay...
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'Pay attention' — Grayscale adds 18x the Bitcoin mined supply in one day

Bitcoin worth $600 million gets taken off the market as BTC/USD struggles to cement support for a retest of $40,000. Asset manager Grayscale added 18 times more Bitcoin ( BTC ) than miners added to the supply in just one day on Jan. 18. As various data sources confirm, Grayscale, which remains the biggest institutional buyer in the Bitcoin space, purchased a total of 16,244 BTC ($607 million) on Monday. BTC buys accelerate again The giant sums are some of the biggest on record and are an order of magnitude above what even Grayscale was attempting just last week. The company previously saw daily buys but stopped over the holiday period and reduced its allocations in the first week of the new year. Monday’s activities bring its total assets under management (AUM) to almost $23 billion. As Cointelegraph reported, the total increased tenfold during 2020 . “Grayscale were buying $251 M of #Bitcoin on avg per week in Q4 2020,” Danny Scott, CEO of United Kingdom-based cryptocurrency ex...
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Trezor crypto wallet warns users of doppelgänger scam app on Google Play

The fake Trezor app has been downloaded by at least 1,000 people on the Android’s app store Google Play. Trezor, a major hardware cryptocurrency wallet supplier, has warned its users about a fake Trezor application on Google Play. According to Trezor, the fake app is malicious and has no relation to Trezor or SatoshiLabs, a company that created the Trezor wallet. Announcing the news on Jan. 18, Trezor asked its clients to not install the malicious application, reminding users that they should never share their seed phrase with anyone. Warning to all Trezor owners using Android devices! This app is malicious and has no relation to Trezor or SatoshiLabs. Please, don't install it. Remember that you should never share your seed with anyone until your Trezor device asks you to do it! pic.twitter.com/6C3iKfPDnR — Trezor (@Trezor) January 18, 2021 Trezor also provided its users with a short manual on using Trezor wallet with Android. In the manual, the company listed major t...
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Why Pakistan and the Middle East can bet on crypto mining

By embracing crypto mining activities in the region, Pakistan and Iran may give other nations in the Middle East an example to follow. It is especially important for countries to become more aware of cryptocurrencies, especially with components like decentralized finance rising in prominence. Now that the Middle East is becoming more mining-friendly, the future suddenly looks bright once again for this region. Pakistani administration legalizes crypto mining The Pakistani government appears to be moving quickly toward a pro-crypto stance. Following a commitment to integrate Bitcoin ( BTC ) into its financial system last December, the country is taking steps to legalize mining. Sumera Shams, a member of the provincial assembly in Khyber Pakhtunkhwa, announced on Twitter that the body had voted to pass a law legalizing mining: Khyber Pakhtunkhwa's Assembly anonymously passed my resolution on #Cryptocurrency & #Cryptomining . Indeed #Pakistan progressing towards digitalis...
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