Daily Archives: September 13, 2021

Cardano Successfully Applies Alonzo Hard Fork; Adds Smart Contract Capabilities to Its Blockchain

cardano

Cardano, the third cryptocurrency ranked by market cap, has successfully applied the “Alonzo” hard fork, adding smart contract capabilities to its functionality. The update, that had been deployed in testnet days ago, finally was incorporated in mainnet yesterday. Cardano is now looking to deploy defi apps, and there are already several parties working on widening the Cardano ecosystem in that regard.

Cardano Enters Smart Contracts Arena

Cardano, one of the leading cryptocurrency chains by market cap, has successfully applied the “Alonzo” hard fork. With this update, the chain has added support for smart contracts to its blockchain. The update that happened yesterday, after being deployed in testnet, features the inclusion of Plutus, a Solidity-like language that will allow programmers to put scripts on-chain.

With this update, Cardano is now a new challenger in a crowded defi ecosystem, that is dominated by other more established chains in the space, like Ethereum and Solana. However, Cardano has already garnered some support from third parties and has a diverse ecosystem of defi apps (dapps) that are being worked into Cardano’s ecosystem.

About this, Input-Output, the company behind Cardano’s development, stated that 150 projects are developing their ideas via Cardano’s Project Catalyst innovation program. The company shared a map of the Cardano ecosystem in its official hard fork blog post.

Cardano Successfully Applies Alonzo Hard Fork; Adds Smart Contract Capabilities to Its Blockchain
Cardano Ecosystem

Expectations Must Be Managed

However, even with the successful application of this update, Input-Output advised users to manage their expectations regarding the upcoming ecosystem of dapps. It stated:

There are high expectations resting on this upgrade. Some unreasonably so. Cardano watchers may be expecting a sophisticated ecosystem of consumer-ready DApps available immediately after the upgrade. Expectations need to be managed here.

The company took a jab at Ethereum stating that the first decentralized app to appear on the chain had to wait over two years before its first Dapp picked up some steam from the audience. The implementation of smart contracts in Cardano has faced a lot of criticism. Some users complained on social media that certain apps were experiencing problems in testnet, such as requiring significant time for transactions to be processed.

Input-Output stated that Cardano’s approach to smart contracts is a new one, and developers must embrace parallelism and multiple transactions to take better advantage of the possibilities the chain offers.

What do you think about Cardano’s Alonzo hard fork and its new support for smart contracts? Tell us in the comments section below.

Bitcoin.com Adorns it’s Crypto-Friendly Casino with New Games from NetEnt

Hot new games from two of the top providers added to Bitcoin.com’s very own crypto casino!

Anticipation has been running high among players at Bitcoin.com Games for their favorite games from the leading software provider, NetEnt. Coming off of the recent addition of a range of live casino games from Evolution Gaming and iSoftBet, the popular casino is now bringing some of the most entertaining titles from this iGaming developer that players have come to cherish over the years.

With in-demand slots like Dead or Alive 2 Feature Buy, Ghost Pirates and Narcos, as well as the space arcade styled slot Starburst and beautifully designed Gonzo’s quest, the newly added range of games from NetEnt promise a long and enjoyable gaming session enriched with bountiful of chances to win Bitcoin. Hundreds of paylines and thousands of multipliers await for players to spin the reels and open possibilities to take home a fortune.

Bitcoin.com Adorns it’s Crypto-Friendly Casino with New Games from NetEnt

Bitcoin.com Games is also home to their very own exclusive games that are only available for play on the turf of this homegrown casino from Bitcoin.com. From the most played slot game The Angry Banker, to the jackpot loaded Exclusive Slots, players can enjoy classic casino games in their ultimate forms on the most trustworthy crypto casino on the planet!

Bitcoin.com Games members can look forward to a highly premium gaming experience along with receiving curated VIP offers that carry generous rewards for all levels of players. An excellent 24/7 support staff also ensures a smooth and entertaining casino session.



Check out these newly added games from NetEnt now on Bitcoin.com Games!

HaloDAO Lists on AscendEX

PRESS RELEASE. AscendEX is thrilled to announce the listing of the HaloDao token (RNBW) under the pair USDT/RNBW on Sept. 13 at 1 p.m. UTC.

HaloDAO intends to unlock potential for non-USD stablecoins to generate permissionless on-demand liquidity. They are building their Protocol in the Balancer ecosystem. This will enable local populations to swap and earn crypto, acting as the base layer for additional innovation for local payments.

HaloDAO provides an incentivization system embodied in a Decentralized Autonomous Organization (DAO). The stablecoin marketplace protocol connects traditional finance and decentralized finance (DeFi) by enabling deep liquidity networks for local stablecoins and money market fund products.

The project aims to create a foundational layer for the digital economy by building an optimized Automated Market Maker (AMM) that efficiently facilitates swaps and minimizes slippage between differently priced stablecoins. HaloDao plans to bootstrap a lending market focused on stablecoins, enabling a foundational money lego to generate local currency-derived yield. The market will generate the yield from permissionless lending and borrowing denominated in local currencies.

With a greater supply of region-specific stablecoins, users will be able to access the permissionless Decentralised Finance (DeFi) economy, thereby lowering the barriers to entry for individual financial participation in specific regions.

RNBW is the ERC20 governance token, limited to 100,000,000 supply to be distributed over five years, permitting holders to participate in governance and acting as a claim against local stablecoin earnings of the Protocol.

 

About AscendEX

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

 

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

 

About HaloDAO

HaloDAO intends to unlock the potential for non-USD stablecoins to generate permissionless on demand liquidity. They are building their protocol in the vibrant Balancer ecosystem. This will enable local people to swap and earn crypto; being the base layer for additional innovation for local payments.

 

For more information and updates, please visit:

Website: https://www.halodao.com/

Twitter: https://twitter.com/halodaofinance

Telegram: https://t.me/HaloDAO

Discord: https://discord.gg/halodao

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Elon Musk’s New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours

Elon Musk's New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours

The CEO of Tesla, Elon Musk shared a picture of a Shiba Inu pup and said “Floki has arrived” to his 59.8 million Twitter followers. Of course, the tweet affected the price of a few specific meme-based crypto assets that leverage the “Floki” name.

Shiba Floki Token Soars After Elon Tweets an Image of His New Pup


Elon Musk has been a fan of dogecoin (DOGE) for a while now and on a few occasions, the CEO of the electric car manufacturer Tesla has tweeted a reference to other meme-based canine coins in the past. Musk referenced “baby doge” in a tweet and in a video shared on Twitter, Musk said “daddy doge,” while being escorted to his car. At that time, there were more than 30 doge-like coins that either shared the name “doge” or the type of dog “Shiba Inu.”

On Sunday, September 12, Elon Musk tweeted about a new puppy arrival and happily tweeted “Floki has arrived.” Now of course, just like his baby doge coin sing-along shared on Twitter in July and the daddy doge video mention, the tweet is meaningless in terms of crypto assets. However, despite the harmless sharing of a cute Shiba Inu pup photo, Musk’s tweet once again has affected the price of at least two specific crypto assets.

For instance, during the last 24 hours alone, the token shiba floki (FLOKI) jumped a whopping 969.5% in value. The token FLOKI is swapping for $0.000000006177 per unit at the time of writing. FLOKI is considered a “community-owned” meme currency and the website says the token is “hyper deflationary.” The coin’s data shows there’s been a quadrillion FLOKI tokens minted and the tokens have been transferred across 18,847 addresses.

Another token with a very similar name, floki inu (FLOKI), has jumped 83.9% during the last 24 hours and now trades for $0.00003431 per unit. Statistics indicate that there are 10 trillion coins minted.

Both currencies stem from the same project and also share the same website, but the shiba floki (FLOKI) coin is a Binance Smart Chain (BSC) token and floki inu (FLOKI) is an Ethereum-based ERC20 token.

Today, the ERC20 FLOKI coin has a market valuation of $343,100,000 at current prices. The Binance Smart Chain version of FLOKI has a market cap of around $6.1 million using current exchange rates.

What do you think about the rise of the FLOKI tokens after Elon Musk’s tweet on Sunday? Let us know what you think about this subject in the comments section below.

Grayscale and Icapital Partner to Provide 6,700 Advisors Access to Crypto Investments

Grayscale Investments has partnered with Icapital Network to provide more than 6,700 advisors access to its cryptocurrency investment products. “Advisors and their clients have expressed increasing appetite for uncorrelated return potential in their portfolios, and digital currencies are at the center of the conversation right now,” said the CEO of Icapital.

Over 6,700 Advisors Now Have Access to Grayscale’s Crypto Investments


Grayscale Investments announced Monday a partnership with Icapital Network, a platform connecting advisors and high net worth investors to alternative investment managers.

Icapital services more than $80 billion in client assets across more than 780 funds globally as of July 31, according to the company. The New York-headquartered firm has offices in Zurich, London, Lisbon, and Hong Kong.

The partnership will “offer Icapital Network’s more than 6,700 network advisors serving high-net-worth clients with access to digital currencies through a Grayscale diversified market-cap weighted investment strategy,” the announcement details. “Icapital’s advisors and clients will now have seamless access to Grayscale’s leading digital currency investment strategies.”

Lawrence Calcano, CEO of Icapital Network, commented:

Advisors and their clients have expressed increasing appetite for uncorrelated return potential in their portfolios, and digital currencies are at the center of the conversation right now.


Grayscale Investments is the world’s largest digital currency asset manager. It has $43 billion in assets under management (AUM) as of Sept. 9. The firm offers 15 crypto investment strategies, including six SEC-reporting investment products.

Hugh Ross, chief operating officer of Grayscale, opined: “We are thrilled to collaborate with Icapital to provide access to an institutional-quality, digital currency investment strategy that is differentiated by its transparency as an SEC reporting company.”

What do you think about Grayscale’s partnership with Icapital to offer thousands of investment advisors access to crypto products? Let us know in the comments section below.

Microstrategy Buys 5,050 More Bitcoins, Now Hodls 114,042 BTC

Microstrategy Buys 5,050 More Bitcoins, Now Hodls 114,042 BTC

Nasdaq-listed Microstrategy has purchased 5,050 more bitcoins for $243 million, raising its total bitcoin holdings to 114,042 coins.

Microstrategy Continues to Grow Its Bitcoin Stash


The pro-bitcoin software company Microstrategy announced Monday that it has purchased more bitcoins. CEO Michael Saylor tweeted:

Microstrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per bitcoin. As of 9/12/21 we hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin.


The company also informed the U.S. Securities and Exchange Commission (SEC) about its bitcoin purchase Monday. The filing states that in the third quarter Microstrategy “purchased approximately 8,957 bitcoins for approximately $419.9 million in cash, at an average price of approximately $46,875 per bitcoin, inclusive of fees and expenses.”

The 8,957 BTC figure includes the 3,907 BTC purchase that was announced in August.

Last week, Saylor revealed that his company avoided “a multi-billion dollar mistake” by choosing to invest in bitcoin instead of gold.

What do you think about Microstrategy acquiring all these coins? Let us know in the comments section below.

Walmart and Litecoin Payment News Debunked by Walmart Spokesperson, LTC Prices Shudder from Fake News

Walmart and Litecoin Payment News Debunked by Walmart Spokesperson, LTC Prices Shudder from Fake News

On Monday, September 13, a press release was published by globenewswire.com and said it was connected to “Walmart Inc,” the American multinational retail corporation. Several mainstream media outlets published stories about it including Reuters, Bloomberg, and CNBC. Not too long after these reports were published, the press release saying Walmart and Litecoin partnered was verified as being “not authentic” by a Walmart spokesperson.

Fake Walmart and Litecoin News Exposes Pump and Dump Scheme


It appears that a phony Walmart press release has been published on Monday which said that the Walmart retail chain was partnering with the cryptocurrency project Litecoin. The press release featured Doug McMillon, the CEO of Walmart, and Charlie Lee the creator of Litecoin.

Walmart and Litecoin Payment News Debunked by Walmart Spokesperson, LTC Prices Shudder from Fake News
Yahoo Finance reported on the news in a video.

Furthermore, an official Litecoin Twitter account with a blue checkmark also tweeted about the press release. The release claimed Walmart partnered with Litecoin and would be accepting litecoin (LTC) for payments. However, not too long after the globenewswire.com press release was published, the story was suspected as being phony.

Walmart and Litecoin Payment News Debunked by Walmart Spokesperson, LTC Prices Shudder from Fake News
At first, Reuters, Bloomberg, and CNBC all reported on the news as being legitimate and then updated their posts and revealed the news was not accurate with a statement from a Walmart spokesperson.

A number of cryptocurrency influencers tweeted out that it was “fake.” One individual discovered that the name “WALMART-CORP.COM,” the email used in the globenewswire.com press release, did not go to an official website. The name “WALMART-CORP.COM” was also registered last month.

The news never appeared in Walmart’s official online newsroom and the account that registered “Walmart Inc” had never published before this event. A Walmart spokesperson confirmed with CNBC that the press release published on Monday was “not authentic.”

A Walmart spokesperson who spoke with Bloomberg said that the “statement on Litecoin was inauthentic.” The official Litecoin Twitter account that tweeted the news has since deleted the tweet. The web page archive.org shows that no one managed to get the tweet saved but there are plenty of screenshots of the tweet.

Litecoin (LTC) gained 28.9% in a 24 hour period after the fake news went viral, but since the report was confirmed as phony, LTC prices saw all those gains erased. LTC is now a few percentages lower than before the spike.

What do you think about the fake news alleging that Walmart and Litecoin partnered? Let us know what you think about this subject in the comments section below.

Ethereum Transfer Fees Drop From Recent Highs, L2 ETH Solutions Between 46-97% Cheaper

Ethereum Transfer Fees Drop from Recent Highs, L2 ETH Solutions Between 46-97% Cheaper

At the end of August, Ethereum network gas costs skyrocketed and tapped a high of $59 per transaction on September 7, according to the average transaction fee spent on that day. The median fee for an ether transaction on September 7 was around $20 per transaction. Days later, ether transaction fees have subsided to a degree as the median and average ether fees have been slashed in half since then.

Ethereum Fees Subside, Transfer Costs Less Expensive


One of the biggest complaints people have with digital currencies is how much the transaction fee can cost to send these assets. Critics don’t care for the fact that Layer 1 bitcoin (BTC) and ethereum (ETH) transactions can be quite costly and unpredictable as well. The common answer for bitcoiners is the Layer 2 protocol the Lightning Network, but there are also Layer 2 schemes for ethereum (ETH) transactions.

First off, a Layer 1 transaction that is settled onchain will cost an ethereum user between $3.39 to $18.74 per transaction. The $3.39 quote is for a very low priority transaction according to Etherscan gas tracker statistics and the $18.74 stems from the metrics recorded for an average ethereum transaction, according to bitinfocharts.com. The same website also tracks the median-sized ether fee which is $9.29 at the time of writing. Data from the website l2fees.info indicates that a Layer 2 ethereum fee is currently $4.46 per transaction.

Ethereum Transfer Fees Drop from Recent Highs, L2 ETH Solutions Between 46-97% Cheaper
Ethereum fees for September 12, 2021.

These fees don’t account for smart contract interactions which can be more costly. For instance, Etherscan gas tracker stats show a common ERC20 transfer is $10.48 and using Uniswap can cost a person $32.25 at the time of writing. This means moving a token balance, interacting with a decentralized exchange (dex), or using an NFT marketplace can be more costly than simply moving ethereum from A to B. For this reason, Ethereum network competitors are nipping at the project’s heels.

Layer 2 Fees: Between 46-97% Cheaper to Send Ether


Ethereum proponents have a few defenses when it comes to the subject of high fees, and a large majority of ETH supporters believe the Ethereum 2.0 upgrade will settle the matter. Additionally, there are Layer 2 projects and concepts like “optimistic rollups” and two specific projects Optimism and Arbitrum are leveraging this technology. Moreover, ether gas killers like hermez.io, aztec.network, starkware.co, loopring.org, zksync.io, and fuel.sh also aim to solve the transaction bottleneck and high fees.

Ethereum Transfer Fees Drop from Recent Highs, L2 ETH Solutions Between 46-97% Cheaper
Layer 2 fees on September 12, 2021.

Some of these projects are being used today, as Bitcoin.com News reported on Arbitrum’s recent $1.5 billion total-value locked (TVL). The website l2fees.info shows the costs associated with these ether gas killers and while they are lower, some are still much higher than Ethereum network competitors. At the time of writing, a Loopring-based transaction will be around $0.11 according to l2fees.info stats on September 12. Zksync is $0.18 to send a transaction and Polygon Hermez is $0.40 per transaction.

Ethereum Transfer Fees Drop from Recent Highs, L2 ETH Solutions Between 46-97% Cheaper
Collective 24-hour and seven-day fees for various blockchain projects.

An Arbitrum One send at the time of writing is $1.61 and an Optimism transaction is $2.38. Fees for Ethereum network competitor blockchains are lower than sending a common ether transaction. Stats from Messari.io note that the average transaction fee on September 6 for the crypto asset cardano (ADA) was $0.59 per transaction.

The blockchain Solana (SOL) indicates on the project’s website that the average SOL send is $0.00025 per transaction. Meanwhile, the sister page of l2fees.info, cryptofees.info, shows that $22 million in ether fees were raked in on September 12. On the same day, the dex Uniswap saw $3.3 million in fees and $4.9 million in fees during the last seven days.

Bitcoin (BTC) saw $448K worth of fees and BTC miners gathered $680K in fees over the last week. While Optimism saw $285K during the last day, Avalanche (AVAX) saw around $216,607 in 24-hour average fees. Arbitrum One fees during the last 24 hours were around $90K.

What do you think about Ethereum fees subsiding and the fees tied to Layer 2 solutions? Let us know what you think about this subject in the comments section below.

BitYard Has Partnered With Banxa to Expand Fiat Money Deposit Methods Supporting Major Currencies

BitYard Has Partnered With Banxa to Expand Fiat Money Deposit Methods Supporting Major Currencies

PRESS RELEASE. BitYard, a Singapore-based cryptocurrency derivatives exchange, is continuously improving its trading services in response to the changing needs of global investors. Recently, the exchange has partnered with Banxa, the world-leading payment service provider (PSP) for the digital asset industry, to provide more convenient fiat deposit methods supporting 13 of the world’s most mainstream currencies such as USD, EUR, CAD, and AUD to global users. It helps investors from all over the world to purchase cryptocurrencies easily using their fiat money.

Fast and Easy Deposit Methods

Banxa, with a mission to build the bridge between traditional financial systems, regulation, and the digital asset space, offers Visa, Mastercard, and Apple Pay payment methods for BitYard users in over 150 countries worldwide, and local bank transfer and cash deposit ways for the users in North America, Europe, and the Asia Pacific, to purchase major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). With the partnership with Banxa, BitYard has created a low threshold trading environment for its users to get rid of the long and troublesome ways of making deposits.

One of the goals of Banxa is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency. After the partnership between BitYard and Banxa, global investors can make fiat deposits on BitYard fast and safely.

Right now, Banxa is providing a one-month limited-time offer in September, which allows BitYard users to purchase cryptocurrencies without charging any fees for providing the payment service.

A Great Trading Platform for Beginners

As an international cryptocurrency derivative exchange serving investors around the world, BitYard is committed to making itself the most beginner-friendly platform. The convenient deposit methods on BitYard greatly reduces the barrier between the general public and the cryptocurrency industry, helping global investors quickly enter the industry.

At the same time, BitYard provides professional cryptocurrency spot trading services with more than 150 listed pairs including Bitcoin (BTC)/Tether (USDT), Ethereum (ETH)/Tether (USDT), Litecoin (LTC)/Tether (USDT) and other popular altcoins, bringing users a very wide selection of coins.

Furthermore, BitYard Contract for Difference (CFD) trading services support multiple asset types, including cryptocurrencies, forex, indices, and commodities, providing users with more investment choices. The free demo trading mode and convenient copy trading system on BitYard can also help inexperienced traders to get started quickly and easily. In the future, BitYard will continue to improve its trading services to provide users with a better investment environment.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says

Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says

The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto matters at the Ukrainian parliament.

Amendments to Ukraine’s Tax Law to Regulate Accounting for Crypto Mining Entities


The mining of digital currencies has remained outside the scope of Ukraine’s newly adopted legislation intended to regulate transactions involving cryptocurrencies in the country. Various accounting aspects pertaining to crypto-related activities, including mining, will be addressed in upcoming amendments to the tax code, an important advisor at the Verkhovna Rada, the Ukrainian parliament, told Forklog.

Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says

Konstantin Yarmolenko, who heads a team of advisors to the multipartisan Blockchain4Ukraine group of deputies, further remarked that the mining of cryptocurrencies should not be subject to licensing as per the recommendations issued by the Financial Action Task Force on Money Laundering (FATF). Yarmolenko is also the founder and CEO of the non-governmental organization Blockchain4ukraine.

The virtual assets law introduced a licensing regime for crypto service providers in Ukraine. Cryptocurrency exchanges, for example, and other platforms working with digital assets will need authorization from the Ukrainian Ministry of Digital Transformation in order to continue to operate within the law.

In the absence of dedicated regulations, the minting of digital currencies is not banned in Ukraine, with the exception of cases where crypto farm operators illegally connect their hardware to the power grid. The Security Service of Ukraine (SBU) has been going after such miners and has shut down mining facilities in different regions of the country this year.

The law “On Virtual Assets,” which the Rada passed on second reading on Wednesday, will enter into force after lawmakers introduce the necessary changes to the tax legislation. Yarmolenko revealed that the authors of the amendments plan to adopt a 0% value-added tax (VAT) rate for all operations with virtual assets except for sales of specialized equipment and hardware cryptocurrency wallets.

The crypto bill was voted on first reading in the Rada last December and revised this year before the draft was put forward for final adoption. The law defines virtual assets as intangible goods and distinguishes between secured and unsecured digital assets. Cryptocurrencies fall under the second category.

Decentralized digital currencies were denied the status of legal tender in Ukraine. However, the country’s Deputy Minister of Digital Transformation, Oleksandr Bornyakov, noted in a recent interview that Ukrainians will not only be able to keep and trade digital coins legally but also spend crypto through instant conversion to Ukrainian hryvnia using the services of regulated intermediaries.

Do you think Ukraine has the potential to become a major crypto mining destination in Europe? Tell us in the comments section below.