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Showing posts from March 3, 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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Pastel Network Announces the Listing of PSL on Bitcoin.com Exchange

PRESS RELEASE. Pastel Network , the first truly decentralized and scalable blockchain project designed specifically for rare digital art, has officially announced its pending listing on Bitcoin.com Exchange , scheduled for March 5th, 2021. Pastel Network is a blockchain for rare digital art (also known as “NFTs”) that is built on the secure, battle-tested codebases of the Bitcoin, Dash, and ZCash cryptocurrency projects. Pastel introduces several important innovations to the world of blockchain art, such as the decentralized storage of art image files natively in the network, as well as a decentralized validation process for registering new artworks that prevents near-duplicate images from being added to the system. Pastel’s novel near-duplicate detection algorithm is based on robust image fingerprints that are generated using state-of-the-art deep learning image models and introduces a new form of digital scarcity which makes pixel patterns themselves “rare”. Pastel takes a differe...
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A Step-by-Step Guide to Creating and Selling Non-Fungible Tokens Built With Bitcoin Cash

In the summer of 2019, our newsdesk published a step-by-step guide on how to create a non-fungible token (NFT) asset by leveraging the Simple Ledger Protocol built on top of the Bitcoin Cash blockchain. The following guide is an updated walkthrough on the process of creating an NFT collectible using the blockchain network with artwork uploaded to the Inter-Planetary File System (IPFS). How to Create an SLP-Based Non-Fungible Token Using the Electron Cash Wallet Non-fungible token (NFT) assets have become all the rage in 2020 and into the new year. In 2021, NFT sellers have sold millions of dollars worth of NFT artwork and collectibles. NFT solutions have been prominent on the ETH chain, even though the process was first popularized on the BTC chain with the original Rare Pepe collection . Token solutions and NFTs have also spread to other blockchain networks and back in 2019, news.Bitcoin.com published a walkthrough on how to leverage the Simple Ledger Protocol (SLP) in order ...
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Crypto Valley's top companies up 680% in value since mid-2020

Switzerland’s Crypto Valley is continuing to grow despite the Covid-19 pandemic, with its top 50 companies increasing in value by more than $200 billion in less than one year. A report compiled by a Swiss venture capital company has revealed that the value of the largest fifty firms operating in the country’s famed Crypto Valley has increased by 680% since July 2020. The Top 50 Report, from Zug's Crypto Valley Venture Capital, or CV VC, found the valley’s 50 largest companies have increased in value from $37.5 billion in July 2020 to $254.9 billion as of February 2021. The report examined firms operating from the Swiss canton of Zug (AKA Crypto Valley) and found the number of blockchain firms in the region increased by 4.4% to 960 since July. Over the same period, the number of employees hired in the digital currency sector in the region increased by 8.5% to 5,184. Crypto Valley now hosts eleven crypto Unicorns with a valuation of over $1 billion each: Ethereum, Cardano, Polka...
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Nvidia wins legal battle over $1B in sales of crypto mining hardware after 3 years

Top GPU manufacturer Nvidia is celebrating after a judge nixed the lawsuit accusing it of misleading investors by “understating” GPU sales to crypto miners. A three-year-old lawsuit accusing Nvidia of “ misrepresenting $1 billion in sales ” of crypto mining hardware during the 2017/2018 bull run came to a close on Mar. 2, with a California district court judge ruling in favor of the GPU manufacturer. The lawsuit alleged Nvidia misled investors by overstating demand from gamers as their primary sales audience. According to a summary of court documents by Law360, Judge Haywood Gilliam granted Nvidia’s request to dismiss the lawsuit on the basis that the plaintiff’s witnesses — former employees of Nvidia — were unable to demonstrate the manufacturer had acted with “conscious recklessness” when failing to disclose that a significant amount of its 2017 and 2018 revenue came from sales of cryptocurrency miners. The primary plaintiff is the Ironworkers Local 580 Joint Fund, an employee b...
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All you can eat: SushiSwap deploys contracts on five new networks

Top decentralized exchanges are exploring alternatives to Ethereum amid high gas prices, with SushiSwap porting its platform onto five additional networks. Major DeFi protocols are moving to cultivate a multi-chain decentralized finance ecosystem, with SushiSwap deploying its contracts on five networks, and Balancer announcing ports onto Moonbeam and Polkadot.  On March 3, SushiSwap CTO, Joseph Delong, announced the DEX had deployed contracts on xDai, Moonbeam Network, Binance Smart Chain, Polygon (previously called Matic), and Fantom. Delong noted Sushi is planning additional future deployments, including on Optimism. A Solana port is also under consideration. While the CTO stated users can expect “relatively complete” experiences on Fantom and Binance as both networks currently “have good support for token lists,” the three other networks “will need some work” before Sushi’s full user experience will be available. Delong also noted the industry-wide trend of “bridges and m...
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Polygon-based QuickSwap's TVL grows by $75M in two weeks

QuickSwap is quickly become the go-to DEX for trading Ethereum tokens off-chain, with its liquidity quadrupling since late February. Polygon-based DEX QuickSwap has attracted more than $105 million in worth of liquidity since the start of 2021. The Uniswap clone began the year with only $300,000 worth of assets locked in its protocol, with more than three quarters of the exchange’s total value locked being added in the past fortnight. QuickSwap is currently the leading second-layer decentralized exchange by daily volume with $38.5 million worth of trades over the past 24 hours. The second-largest L2 DEX by volume is Loopring with $8.4 million, followed by ZKSwap with $2.5 million. L2 DEX trading volume in the last 24hrs: 1 @QuickswapDEX $38,503,800 (>30% own token❗) 2 @loopringorg $8,429,098 3 @ZKSwapOfficial $2,530,652 (>50% own token❗) 4 @Leverj_io $1,339,688 5 @nashsocial $913,475 6 @deversifi $805,710 Powered by @coingecko API — L2_Dex_Wars (@L2Wars) Ma...
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Banks Turn Away Customer Deposits due to Negative Interest Rates in Germany

Banks in Germany are reportedly turning customer deposits away due to the negative interest rate imposed on them by the European Central Bank (ECB). Some banks are even offering online tools to help customers take their deposits elsewhere. Negative Interest Rates Imposed by ECB Force Banks to Turn Away Customer Deposits Banks in Germany have been telling customers to take their deposits elsewhere as they can no longer sustain the cost of parking money at the ECB, the Wall Street Journal reported Tuesday. The central bank has been imposing negative interest rates since 2014. The rate is currently -0.5%, which is unlikely to change any time soon, according to the central bank. After years of exhausting ways to pass on the costs of negative interest rates to customers, such as charging higher fees, banks in Germany are now turning away clients’ deposits, the publication noted, elaborating: Banks are even providing new online tools to help customers take their deposits elsewhere. ...
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Compound to offer cross-chain borrowing via Gateway

Cross-chain collateral will soon be available with Compound Finance. Decentralized finance lending protocol Compound has unveiled a new blockchain that will enable cross-chain collateral. It is the latest move to mitigate expensive operations on the Ethereum network and enable more interoperability in the DeFi ecosystem. The new Gateway chain, announced on Mar. 2 , has been described as a cross-chain interest rate market that allows users to borrow assets that are native to one chain, such as Ethereum, with collateral from another chain, such as Polkadot or Celo. Compound Finance originally announced the platform in December 2020 when it was called ‘Compound Chain’. Compound aims to alleviate current fragmentation in the DeFi industry across different blockchains with Gateway and has chosen the next-generation blockchain architecture, Substrate, to do so. Substrate, which also powers the Polkadot network, is a modular framework that enables developers to create purpose-built high...
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1 in 5 investors at firms that don't trade in crypto say they are 'likely' to in future

A poll has found 22% of institutional investors are likely to buy cryptocurrency in the future. A survey carried out by JPMorgan found that one in five institutional investors at firms that don't currently trade in cryptocurrency believe their companies are likely to do so in future. The survey of more than 3,400 investors representing 1,500 institutions, found that 11% of respondents work at firms that trade or invest in crypto, while 89% do not. Promisingly however, twice as many institutions appear likely to invest into crypto ashan those who have already taken the plunge, signalling institutional money may continue to flow into the markets over the near-term. Out of respondents from firms that do not trade or invest in crypto, 22% sa stated they believe their companies are likely to invest in digital currencies in the future. While some analysts argue that sustained institutional buying will now keep the price of Bitcoin up $50,000 — a significant number of institutional...
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100-artist NFT collaboration sells out in minutes, increases 7X in price in 24 hours

The limited-edition NFT artworks are already selling for thousands more than the original price. They combine work from 100 unique artists who might not have entered the space on their own. An NFT made up of 100 individual pieces from 100 different artists has sold out within minutes on the Rarible platform, raising almost $89,000. The Ultimate Artist Collaboration... crashed Rarible and then sold out in minutes — Loopify ‍♂️ (@Loopifyyy) March 3, 2021 Although the sale amount is far from record-breaking, the project is noteworthy in that it is a mass collaboration th has taken shape through an individual non-fungible token, or NFT.  NFT curator “Loopify” told Cointelegraph the work had been inspired by the current limitations for lesser-known artists to mint and sell their own NFTs such as high gas fees, limited understanding of the tech, and little visibility. “The main idea behind it was that I chose a lot of artists and they had a huge barrier [minting fees] — this...
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Bull flag breakout sets a $55,000 target for Bitcoin price

Bitcoin bulls are looking to eliminate a key overhead resistance level in order to create a path to $55,000. Bitcoin ( BTC ) price sliced through the $50,000 resistance level during the early trading hours on March 3 as bulls found their momentum and the majority of altcoins joined in on the rally as the day progressed.  Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin was trading at $48,500 in the early hours on March 3 before surging 8.6% to an intraday high of $52,631. Currently, BTC price trades slightly below $51,000, and while $50,000 may have become a soft support, a daily close above the 23.6% Fibonacci retracement ($52,000) is needed to confirm that a bullish reversal has taken place. BTC/USDT 4-hour chart. Source: TradingView On-chain analysis from CryptoQuant indicates that Bitcoin whales have been consistently buying the dips below $50,000 and according to  CryptoQuant CEO Ki Young Ju , institutional buying is taking place a...
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BitMEX’s Arthur Hayes and Ben Delo negotiate surrender to U.S. authorities

Court transcripts have revealed that BitMEX’s fugitive executives Arthur Hayes and Ben Delo are negotiating a surrender with U.S. authorities. The former CEO of crypto derivatives exchange BitMEX, Arthur Hayes, is in negotiations to surrender to U.S. authorities next month concerning charges that authorities levied against four of the exchange’s executives and co-owners in October . Transcripts of a court teleconference dated Feb. 16 indicate Hayes will surrender to the U.S. in Hawaii on April 6. Hayes and his fellow executives are accused of violating the Bank Secrecy Act by the U.S. Department of Justice and  the Commodity Futures Trading Commission. The transcript details the assistant U.S. attorney Jessica Greenwood’s comments to the judge presiding over the case, with Greenwood indicating she has been in talks with Hayes regarding the anticipated voluntary surrender. Hayes is currently located in Singapore, with the attorney noting Hayes hopes to continue residing abroad...
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North America’s First Bitcoin ETF Now Holds Over 11,000 BTC

The first bitcoin exchange-traded fund (ETF) in North America now holds over 11,000 bitcoins. Purpose Bitcoin ETF saw strong interest at launch. An ETF researcher explained that the surge in interest was evidence of some combination of pent-up demand, the price of bitcoin, and investors switching from other means of getting cryptocurrency exposure. First North American Bitcoin ETF Holding More Than 11K Bitcoins The first approved bitcoin exchange-traded fund (ETF) in North America, Purpose Bitcoin ETF, is holding 11,141.2363 bitcoins as of March 2. According to Purpose Investments, which manages the fund, the bitcoin ETF currently has CA$669 million ($530 million) in assets under management. Purpose Bitcoin ETF gained widespread attention when it launched on Feb. 18 on the Toronto Stock Exchange (TSX). The fund saw more than $165 million in trading volume on the first day . The ETF trades under the symbols BTCC.B (Canadian dollar-denominated ETF non-currency hedged units) and BTCC....
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‘I can’t believe you morons actually buy this shit’: Banksy art burned and tokenized

The satirical piece by Banksy pokes fun at the shallow, bloated art industry... So, what would he think about NFTs? An original artwork by anonymous British street artist Banksy has been burned and turned into a nonfungible token. The NFT will be auctioned next week on the blockchain-based Rarible platform, where users can create and purchase rare tokenized artworks. The original Banksy in question is a satirical piece entitled “Morons,” which depicts buyers at an art auction bidding on a piece emblazoned with the words “I can’t believe you morons actually buy this shit.” The piece received certification from Pest Control — the only body authorized to authenticate original Banksy artworks. “Morons” was sold at Christie's auction house in London in late 2019, where it fetched $32,500 from an anonymous, independent buyer. The burning of the piece took place at an unknown location in Brooklyn, New York, and was livestreamed via the recently created Twitter account BurntBanksy. ...
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The reformed Bitcoin Maxi who saw the light: Erik Voorhees

We felt like we were doing God’s work, explains cryptocurrency payments pioneer Erik Voorhees as he recalls trying to convert the unbelievers in the early days of Bitcoin. The man whose gambling platform SatoshiDice was once responsible for half of all Bitcoin transactions, is now an elder statesman of crypto and the CEO of the ShapeShift exchange. He remembers Bitcoin being written off as a joke at the Money 2020 conference in Las Vegas back in 2012. At the time he was working for BitInstant, one of the first Bitcoin exchanges, and they had a booth right next door to PayPal. I remember the PayPal people nearby kind of snickering at us. A couple of them had maybe heard of Bitcoin. If they’d even heard about it, it was a total joke a stupid scam on the internet, or something. It was a totally unproductive conference. History has not been kind to the snickerers and scam-sayers, many of whom have since been converted. In 2020, eight years after the conference, Paypal finally joined t...
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Brave acquires search engine in bid to offer alternative to Google Search

Privacy-focused browser Brave has acquired open search engine Tailcat to introduce its own alternative to Google Search later this year. Major privacy-focused browser Brave is inching closer to offering a private search engine.  Brave announced Wednesday that the company has acquired Tailcat, an open search engine developed by a group formerly working on privacy search and browser products at Cliqz. Operating under the majority holding of Hubert Burda Media, Cliqz terminated its efforts on browser and search tech in May 2020. According to the announcement, Tailcat will serve as a foundation for the upcoming Brave Search — an inbuilt search engine designed to enable private and transparent web surfing. Brave CEO and co-founder Brendan Eich told Cointelegraph that the firm expects to introduce Brave Search by summer 2021. “Brave is now working on integrating this technology and making it available to all as Brave Search, first via early access for testers, and then for general ...
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