Monat: April 2024

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COTI unveils V2 Whitepaper for enhanced Ethereum confidentiality

  • COTI Network launches V2 Whitepaper for Ethereum, boosting confidentiality.
  • The V2 whitepaper unveils innovative features including Garbling Protocol and gcEVM for secure transactions.
  • COTI token has dropped 7% in spite of this key development.

COTI Network, a leading Layer-2 scaling protocol on Ethereum, has launched its highly anticipated V2 Whitepaper, aiming to revolutionize confidentiality within the Web3 ecosystem.

The move underscores COTI’s commitment to addressing privacy concerns and driving innovation in blockchain technology.

Enhancing confidentiality on Ethereum

The unveiled V2 Whitepaper signals a significant step forward in enhancing confidentiality on the Ethereum blockchain. It introduces groundbreaking features designed to optimize performance while safeguarding user privacy.

One key innovation highlighted in the whitepaper is the implementation of a Garbling Protocol, which offers remarkable improvements in computation speed, storage efficiency, and latency compared to existing solutions. This protocol is poised to revolutionize blockchain encryption, offering up to 1000x faster computation and 250x smaller storage requirements.

Moreover, COTI is introducing gcEVM, an innovative extension of the Ethereum Virtual Machine (EVM) developed by Soda Labs. This extension reinforces blockchain transactions with confidentiality, ensuring secure computations on encrypted data. By integrating gcEVM, COTI aims to uphold data privacy while maintaining efficient functionality within the Ethereum ecosystem.

Addressing privacy challenges in Web3

COTI’s focus on confidentiality comes at a crucial juncture for Web3, where data sharing and user empowerment are central themes. As the Web3.0 ecosystem evolves, navigating the balance between individual privacy and blockchain transparency becomes increasingly complex.

The launch of the V2 Whitepaper underscores COTI’s commitment to addressing these challenges head-on. By prioritizing confidentiality as a core human right, COTI aims to equip the Web3 ecosystem with the tools necessary to safeguard user privacy while promoting innovation and adoption.

COTI token price reaction

Despite the groundbreaking advancements outlined in the V2 Whitepaper, the COTI token has experienced a 7% decline in value amidst broader market fluctuations, currently trading at $0.1643.

The post COTI unveils V2 Whitepaper for enhanced Ethereum confidentiality appeared first on CoinJournal.

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Nexo leads 35+ crypto giants in push for Bitcoin emoji

  • Nexo leads 35+ crypto giants in a push for a Bitcoin emoji.
  • The ‘Bitcoin Deserves an Emoji’ movement gains traction globally.
  • The movement has surpassed 10,000 endorsements.

In a groundbreaking move, Nexo, alongside over 35 major crypto organizations, is spearheading a campaign to establish a Bitcoin emoji.

This initiative aims to solidify Bitcoin’s cultural and technological significance and has already garnered significant traction within the crypto community.

Push for a Bitcoin emoji gains momentum

The ‘Bitcoin Deserves an Emoji’ movement, backed by industry leaders such as Kraken, Brave, and Polygon, is swiftly gaining momentum.

Within just one week, the petition to the Unicode Consortium amassed over 10,000 endorsements, signalling widespread support for the cause. With the goal set at 50,000 signatures, the initiative highlights the unity and strength of the global crypto community.

The push for a Bitcoin emoji reflects the cryptocurrency’s growing prominence and market dominance. Kosta Kantchev, Co-founder & Executive Chairman of Nexo, emphasized the necessity of a universal symbol for Bitcoin, given its significant impact on the global economy and its ever-expanding user base.

Why are organizations pushing for a Bitcoin emoji?

The initiative marks a significant moment in cryptocurrency history, coinciding with Bitcoin’s new all-time highs and the anticipation surrounding the fourth Bitcoin halving.

With over 170 million community members worldwide represented by the participating crypto organizations, the campaign underscores the collective effort to cement the legacy of Bitcoin in the digital landscape.

The quest for a Bitcoin emoji parallels previous endeavours by mainstream brands like Taco Bell and Tinder, demonstrating the crypto community’s commitment to advocacy and innovation. By leveraging social-economic advocacy, the ‘Bitcoin Deserves an Emoji’ movement aims to overcome the absence of a dedicated Bitcoin symbol on digital platforms.

Nexo, recognized as the world’s leading digital assets institution, is at the forefront of driving crypto innovation and through initiatives like Nexo Ventures and the ‘Bitcoin Deserves an Emoji’ campaign, Nexo continues to push boundaries and shape the future of finance.

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Jupiter and Degen prices surge as new meme coin’s innovations shake the market

  • Jupiter (JUP) and Degen (DEGEN) experience significant price swings.
  • Kangamoon revolutionizes crypto with innovative SocialFi and Play To Earn features.
  • Kangamoon’s presale sees huge success, raising over $3.9 million with $KANG token selling at $0.0196.

Jupiter (JUP) and Degen (DEGEN) cryptocurrencies are pulling back after witnessing significant price movements.

However, as investors anticipate the next moves for JUP and DEGEN tokens, innovations like Kangamoon are reshaping the landscape attracting the attention of traders and investors alike.

Jupiter (JUP) tests $1.83 before pulling back

Jupiter (JUP) has been on a rollercoaster ride in recent days, experiencing both highs and lows.  

After reaching an all-time high of $1.8363 on April 1, the price has corrected slightly. It has dropped by about 12% today sending shockwaves among traders.

Nevertheless, despite today’s price drop, Jupiter (JUP) remains up 160% in the past month.

The surge above $1.83 was fueled by the initiation of CWG’s budget proposal, currently in the voting process.

Analysts predict further bullish momentum, with projections suggesting another 12% increase to $2.00.

However, caution is advised as the RSI indicator indicates potential overbought conditions, which could lead to a price correction.

Degen price remains volatile as it pulls back

Degen (DEGEN) has experienced remarkable growth, shooting up to $0.0644 on March 31, before retracing slightly.

Despite a recent 15.87% drop, Degen is still up 158.88% over the past month.

The recent surge in price followed the launch of the Degen Chain network, which recorded $100 million in transactions within five days of its launch.

Ethereum co-founder Vitalik Buterin’s proposal of “Degen Communism” has also generated significant interest in the project.

Analysts predict continued bullish sentiment for Degen, with the potential for further price appreciation.

Kangamoon: revolutionizing the crypto landscape

As Jupiter (JUP) and Degen see increased volatility, Kangamoon is making waves with its innovative approach to cryptocurrency.

Combining elements of SocialFi and Play To Earn, Kangamoon offers users the opportunity to interact, grow, and earn rewards.

At the heart of Kangamoon is its native token, $KANG, an ERC-20 token on the Ethereum blockchain with a max supply of 1,000,000,000. The token is currently in the presale stage and interested investors can visit the official website to purchase their share.

The platform aims to build a strong community of meme enthusiasts while integrating gaming and earning opportunities.

The Kangamoon presale

The Kangamoon presale has seen remarkable success, with the platform raising over $3.9 million.

The KANG token is selling at $0.0196, offering investors an opportunity to get in early and benefit from potential future growth.

With Stage 5 offering a 10% bonus on all purchases, the presale has attracted significant interest from investors looking to capitalize on Kangamoon’s promising future.

Conclusion

The cryptocurrency market is experiencing significant volatility, with assets like Jupiter (JUP) and Degen (DEGEN) witnessing dramatic price movements.

Meanwhile, Kangamoon’s innovative approach is disrupting the industry, offering users new ways to engage with cryptocurrencies and earn rewards.

As the market continues to evolve, investors are advised to stay informed and exercise caution in their investment decisions.

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Tether now the seventh-largest Bitcoin (BTC) holder

  • Tether recently committed 15% of its net profit to Bitcoin investments.
  • On March 31, 2024, Tether acquired an additional 8,888 BTC at $30,305 each bringing unrealized profit to $2.94B.
  • Tether is now 7th largest holder of Bitcoin (BTC), with 75,354 BTC.

Tether, the leading issuer of USDT, has emerged as the seventh-largest holder of Bitcoin (BTC) after a strategic acquisition of 8,888 BTC on March 31, valued at $618 million.

The latest purchase substantially bolstered Tether’s Bitcoin holdings, bringing the total to 75,354 BTC. The acquisition, executed at an average price of $30,305 per BTC, has proven to be astute, with the market value now standing at $5.2 billion.

CoinStats data indicates an impressive 128% increase in the value of bitcoins in the wallet that made the latest BTC acquisition, translating to an unrealized profit of $2.94 billion.

Tether’s strategic Bitcoin acquisition

Tether’s decision to secure a substantial amount of Bitcoin comes at a time when institutional interest in the leading cryptocurrency has surged.

Fueled by the approval of United States spot Bitcoin ETFs and anticipation surrounding the Bitcoin halving, Tether’s move reflects a strategic response to the evolving landscape of digital assets.

Tether’s ascent to becoming a major Bitcoin holder underscores its commitment to diversifying the backing assets of its stablecoins.

With a declared intention to allocate 15% of its net profit towards Bitcoin investments, Tether aims to strengthen its position within the cryptocurrency market and further solidify its role as a key player in the digital asset space.

This strategic move not only elevates Tether’s standing within the cryptocurrency community but also highlights the growing importance of Bitcoin as a core asset in institutional investment portfolios.

As Bitcoin continues to gain traction as a store of value and an investment asset, Tether’s strategic investment strategy underscores its vision to remain at the forefront of innovation and disruption in the evolving landscape of finance and technology.

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