Cryptocurrency

Let’s say you’re a longtime Bitcoiner with some BTC laying around that you’d be willing to experiment with. ‘If that sounds like you, then maybe you’ve also heard about Ethereum’s rising decentralized finance ecosystem and how you can put your BTC to work in DeFi in various ways, though you don’t know where to start. If you fit the bill here, then look no further. Here’s a brief primer on Ethereum’s most popular BTC token to date, the BitGo-backed WBTC project, and a range of ways you can put this token to productive use around DeFi. The ERC-20 BTC Boom Has Begun As the leading smart contract platform, Ethereum is great for tokenizing just about anything. That said, Ethereum’s ERC-20 token standard can be used to easily represent and make tradable atop Ethereum assets that are otherwise ...

Stablecoins have evolved to insulate crypto investors from token price volatility, or at least the perception of it. MahaDAO is one of the first platforms to see that fiat-linked stablecoins aren’t really that great for ensuring buying power, at least on a time frame of more than a few months. The ARTH token ecosystem is the solution to this problem, and it is a well thought out platform that could change the way investors see value. When people think about the price of the major crypto tokens, like Bitcoin or Ethereum, the idea of a volatile asset class might pop into their minds. While this is partially true, the direction of crypto prices has been up ever since they were introduced to the public. Long term crypto investors probably love this, but anyone who has to pay for daily needs w...

Bitcoin’s arrival into the mainstream was accompanied by massive evaluations of altcoins, a short-lived ICO craze, and many misunderstandings about the vision and potential of Bitcoin. Over the last year, numerous developments have unfolded that give more access to investing in Bitcoin and interacting with the legacy cryptocurrency than ever before. While access to Bitcoin is still far from being ideal, options for investing in it are significantly greater than they were only several years ago. From the proliferation of exchanges to alternative means of acquiring it, evaluating various ways to invest in Bitcoin is worth your time and effort. Bitcoin Price & Market Bitcoin’s price has been volatile since its inception. Starting from the first purchase of a good or service using 10,000...

Steve Wozniak, Apple’s co-founder, has launched a new blockchain project called Efforce. Efforce, a blockchain-based energy efficiency crowdfunding platform, enables contributors to support energy efficiency projects by investing in tokenized future savings. This platform will be the first blockchain-based energy-saving platform with access to small and large investors across national borders. Through the platform, Energy Service Companies (ESCOs) will increase operational capabilities by listing their current projects. Efforce aims to democratize the energy efficiency project marketplace, which is currently worth over $250 billion. The launch of Efforce went alongside the launch of its token, WOZX, on HBTC.com. WOZX can be used by contributors to buy int...

The Federal Bureau of Investigation (FBI) announced, on Thursday, that its dark web strategy lacks clarity and would benefit from improvement. In a report released by The Department of Justice Office of the Inspector General (OIG), it was concluded that the FBI didn’t adopt a cohesive strategy to investigate the dark web. This has led to operational units executing disparate individual dark web investigative strategies. The OIG noted that a decentralized, collaborative effort could be adopted by establishing a coordinated FBI-wide dark web approach to ensure clarity on operational units’ investigative responsibilities. According to the OIG redacted report, the FBI should also implement a “cryptocurrency support strategy.” FBI investigations involving the il...

Peer-to-peer Bitcoin trading volume in Nigeria continues to soar as Africa’s largest economy remains a front runner of crypto adoption. Chainalysis has reported booming cryptocurrency adoption in Africa as the continent ranked second to the United States of America in peer to peer trading. According to one survey, Nigeria has the highest percentage of cryptocurrency users in the world. Bitcoin’s usage among Nigerians is likely due to several conflating factors most notably stringent forex policies by the Central Bank of Nigeria (CBN) as well as the significant decline of the country’s currency, the Naira. In a circular, released by the CBN, on 16th December 2020, International Money Transfer Operators (IMTOs) and Payment Serv...

Bitcoin has transactional limits to what it can achieve, so when there is a high demand for the cryptocurrency, the network clogs up, causing mempool spikes.  The mempool is where unconfirmed transactions await their inclusion in the blockchain.  During normal operations, Bitcoin is capable of keeping up with the demands. Bitcoin transactions naturally gather in the mempool before miners record them on the blockchain.  Two forces affect Bitcoin’s capabilities to avoid going into a mempool spike.  Demand for Bitcoin transactions Changes in network mining power Demand for Bitcoin Transactions Bitcoin’s popularity is the most influential factor in the equation. When Bitcoin is not trending, the blockchain usually avoids overflowing the mempool and regu...

Bitcoin Chaser - December 18, 2020 In a truly unprecedented move Estonia, the leading authority on blockchain and crypto in the EU, has revoked more than 1000 licenses from crypto firms. In a bid to introduce stricter regulatory measures, more than 70% of cryptocurrency companies in Estonia have had their licenses revoked, in the biggest sweep by the Estonia government yet.  The Deputy Secretary General of the Government Committee for the Prevention of Money Laundering and Terrorist Financing said that the move came as a way to prevent possible money-laundering activities. He said that most cryptocurrency firms were not fully compliant with the regulations set ...

Bitcoin Chaser - December 18, 2020 Winning Poker Network, which supports a huge range of poker websites around the world, has reportedly begun issuing 95% of their payouts in Bitcoin. In a report in Bloomberg on 19th November 2020, the Winning Poker Network CEO said that up to 95% of players have a preference for collecting their winnings in BTC.  CEO Phil Nagy, said that the company has had to make more BTC purchases than ever thanks to an increase in demand, caused by the coin’s price surge.  “We are constantly having to go out and buy Bitcoin — lots,” Nagy said. He added that, according to estimates, the WPN are issuing payouts worth more than $100 mill...

Bitcoin Chaser - December 21, 2020 CryptoSlots, a well-known crypto casino from Slotland Entertainment, has stirred up some major fun for players this festive season. Until the end of December, players will receive up to $250 with their deposits, to use on Polar Freeze – a brand new, icy slot.  Set against a background of snow and ice, Polar Freeze has everything you would imagine from the name – polar bears, penguins, ice cubes, and a hell of a lot of snow – set against a 2-3-4-3-2 grid. CryptoSlots manager, Michael Hilary, said:“The game developers call this a triangular grid, but if you ask me, it’s iceberg shaped!” Polar Freeze is pretty basic, but com...