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Showing posts from August 21, 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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Walmart is seeking a crypto product lead, the Dogecoin Foundation is active again after a long break, Coinbase has amassed a $4 billion cash-backed war chest: Holder’s Digest, Aug. 15-21

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week   Infrastructure bill passes US Senate without clarification on crypto On Tuesday, the controversial infrastructure bill passed in the U.S. senate In a 69-30 vote. The bipartisan bill proposes roughly $1 trillion of funding into transportation and electricity infrastructure projects. The bill also puts forward more stringent rules for firms handling crypto assets while expanding reporting requirements for brokers , who will be required to report digital asset transactions worth more than $10,000 to the IRS. Six senators, including Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema and Ron Wyden, proposed an amendment to the buzz-kill bill on Monday that would exempt software ...
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DeFi proves that charities could be doing more with their money

DeFi is changing the way the sector operates by using onramps and integrations across blockchains to make giving to charities easier. Most of the stories coming out of the crypto industry this past year have centered around enormous numbers flowing in and out of the space. From stablecoins topping over $100 billion , with Circle  raising $440 million in private investment in the spring, to decentralized finance (DeFi) projects like Solana completing a $314 million fundraiser, people love to discuss the huge amounts of money being made in DeFi as new all-time highs break records across the board. What we don’t see enough of are the use cases on how this technological innovation underpinning these new financial instruments can benefit important causes and impact organizations outside of the bullish and bearish markets. Although blockchain technology has progressed rapidly over the past decade, the remaining high entry barrier to accessing this new world of finance is widely kno...
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DeFi needs more tangible assets on-chain to see a successful future

DeFi already offers innovative financial products, but what’s needed for it to go mainstream is to bring more real-world assets on-chain. In a business school lecture hall at the Massachusetts Institute of Technology (MIT), a senior executive for Safaricom gave a prediction of decentralized finance and the future of commerce to a room of keen but confused MBA students. “You will be able to buy your first home on WhatsApp! Smart contracts on the Ethereum blockchain will take care of everything and you won’t need a broker,” he said with conviction, pointing to a slide. “How will the house’s title change hands? What about the funds? Can the blockchain do escrow? What role for lawyers? How could we possibly buy something worth a million dollars with the click of a button?” the class wondered. Students in April 2017 — who hadn’t yet seen Bitcoin ( BTC ) crest above $20,000 — had little reason to believe that blockchain would change the world. They were intrigued anyway. Although these c...
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Unicorns in crypto: A growing herd of billion-dollar crypto companies

As Bitcoin garners more mainstream attention, crypto-centric startups are also scoring funding from VC firms to become crypto unicorns. The second half of 2021 just started and there is already a rise in the number of unicorns emerging in the crypto world as years of resistance towards crypto from mainstream investors start to fade. Since the year began, more than 50 cryptocurrency and blockchain-related projects have risen to the much-coveted unicorn status, with market analysts predicting more to come. A unicorn is a company that has been valued at more than one billion dollars by venture capitalists. A few examples of unicorns in the mainstream include the likes of Airbnb, Uber and Elon Musk's Space X that have all managed to garner a valuation in the tens of billions. In the crypto sphere, Coinbase, the giant United States-based crypto exchange, is a keen example of how fast companies in the crypto industry can rise to prominent status.  With the likes of Amber Group, B...
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Crypto mining needs to be redefined before simply casting it away

To ensure a sustainable future for blockchain and crypto, we need to reimagine the mining process and restructure PoW systems. Blockchain mining networks are often victims of their success. The two contemporary realities that demarcate the mining landscape and cause blockchains to fall short of what they promise are 1) the ongoing technological arms race driven by inherent competitive greed; and 2) the rising energy costs associated with proof-of-work (PoW) mining. Blockchains built on the PoW consensus have become highly unequal and increasingly centralized in terms of their hash rate. This concentration of mining power in fewer and fewer hands is an attack on the fundamental requirement for distribution and decentralization that blockchains possess. In addition, the motivation to ramp up mining power has a knock-on effect in terms of runaway energy costs, which have the potential to cause irrevocable environmental harm, as has been the crux of the Chinese Bitcoin ( BTC ) mining s...
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