Schlagwort: crypto business

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Tezos activates the 12th upgrade “Lima”

  • The Lima upgrade is the 12th upgrade on the Tezos protocol.
  • Tezos is referred to as the “self-amending blockchain” for its ability to seamlessly upgrade using its on-chain governance.
  • Lima upgrade reduces the risk of bugs in smart contracts among other benefits.

Tezos, one of the original Proof-of-Stake (PoS) blockchains, has activated its 12th upgrade, the Lima upgrade, which was voted upon and approved by the Tezos community. The new upgrade which introduces several new features also reduces the risk of bugs in smart contracts.

Lima marks the fourth protocol upgrade in 2022 and the 12th upgrade since the Tezos protocol was unveiled. Tezos is known for its ability to seamlessly upgrade through its on-chain governances which allows the protocol participants to propose and vote on upgrades and changes that they believe are important for the protocol.

Key improvements introduced by Lima upgrade

The Lima upgrade introduces several key improvements to Tezos functionality including faster processing speeds, the introduction of consensus keys, and improvements to tickets.

The Lima upgrade continues with the ‘Pipelining validation project’ that speeds up the processing of blocks and operations on Tezos by separating validation processes from application processes. A new block on Tezos is first validated before being forwarded to other peers; a feature that speeds up block propagation on the network and reduces the block time to 15 seconds and increases the overall throughput for the blockchain.

The consensus keys will allow validators (known as bakers in Tezos) to designate a special key for signing blocks and consensus operations. This feature prevents backers from losing delegators due to a change in setup or the need to coordinate with delegators off-chain to move them to a new address.

Tickets are a type of data unique to Tezos smart contracts and a great foundation for the scalable solutions that have allowed for many use cases including tokenization, authentication, and voting among others. Lima upgrade in particular deprecates the creation, storage and transfer of zero-amount tickets thus reducing the risk of bugs in smart contracts.

In addition to the improvements to the current Layer 1 Tezos solutions, the Lima upgrade also finalizes the development work towards Smart Rollups, which is an innovative Layer 2 scaling solution that is expected to debut in the subsequent Tezos upgrade proposal.

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US Banking Committee chairman suggests banning cryptocurrencies

  • Banking Committee chairman Sherrod Brown made the suggestion during an appearance on NBC’s “Meet the Press.”
  • He however stated that it would be “very difficult” to ban crypto since they would simply “go offshore.”
  • Brown has been calling for imminent and aggressive action to be taken on crypto for the last 18 months.

During a December 18 appearance on NBC’s “Meet the Press,” United States Banking Committee chairman Sherrod Brown proposed that the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission (SEC) should possibly consider a ban on cryptocurrencies.

Brown, who is also the Ohio representative, was responding to a question about Senator Jon Tester who has previously said that cryptocurrencies should be banned. Brown however noted that banning crypto would be difficult since the business would go offshore if it were banned in the US. He said:

“We want them to do what they need to do at the same time, maybe banning it, although banning it is very difficult because it would go offshore, and who knows how that would work.”

Calling for an aggressive action

Over the last 18 months, the Ohio representative has been trying to tell his House colleagues about the dangers of cryptocurrencies and calling for aggressive action to be taken.

Brown said:

“I’ve already gone to the Treasury and the Secretary and asked for a government-wide assessment through all the various regulatory agencies. … The SEC has been particularly aggressive, and we need to move forward that way and legislatively if it comes to that.”

The representative cited the recent FTX collapse saying that is an example of why a ban would be worth considering. He also argued that cryptocurrencies were a threat to national security citing North Korean cybercriminal activity that have largely use crypto. He also cited human trafficking, drug trafficking, and terrorism financing.

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Best Altcoins To Buy During The Crypto Crash for 2023

Any crypto crash can sting and a lot of coin holders have been feeling the hurt recently. The situation has left quite a few investors overexposed with tokens that were bought near the top of the bull market. As such, some are now reluctant to hop back into new investments.

That being said, bearish conditions are always full of prime opportunities. At times like these, solid tokens tend to be underpriced and have more potential than ever. And after 90% price reductions in the crypto crash across the board, there are some great options for crypto investors who are ready to get ahead and prepare for the next bull market.

This article will be analysing 5 of the best altcoins to buy before the reversal. These tokens have high potential for the future and can each make major gains for your portfolio.

#1 Metacade (MCADE) – Casual Play-to-Earn Gaming – Best Altcoin to Buy 2023

Metacade aims to become the largest on-chain arcade in the metaverse. The project is largely driven by the community and aims to become a decentralised autonomous organisation (DAO) over time. The platform already looks destined to become a major project to rival some of the biggest GameFi titles around, such as Axie Infinity and Decentraland.

As well as offering a variety of play-to-earn games, Metacade provides an all-in-one location for GameFi enthusiasts that offers some ground-breaking features. 

Gamers can earn in a number of unique ways, including sharing their gaming knowledge. Metacade will reward users for contributing to the community, through posting reviews, helping other players, and doing beta-testing for games that are still in development. Through this and other means, Metacade users earn the native token – MCADE.

Metacade is also a place to bring gamers and game developers together. In particular, game developers can propose their project to the community to be awarded funding via Metagrants. Voting on the game proposals is done through the MCADE token, giving it an additional use case.

MCADE has a fixed total supply of 2,000,000,000 tokens with 70% of this total being made available for the presale. Having a fixed supply gives MCADE deflationary tokenomics, which can be extremely beneficial due to the natural relationship between supply and demand. Fixed supply, combined with increasing demand, can result in a continually rising price because the token becomes more scarce.

By offering gamers extensive earning opportunities and supporting the continued development of the blockchain gaming community, MCADE offers enormous value. For now, the token seems undervalued and its presale price action reflects this. With potential gains of over 100% made in suboptimal market conditions, Metacade looks set to become a major player in GameFi over the coming years and is a deserving winner of the #1 crown on our best altcoins to buy list for 2023.

>>> You can participate in the MCADE presale here <<<

#2 Binance (BNB) – Global CEX

Binance is a global cryptocurrency exchange that provides a platform for trading 600 digital currencies. The native token of the platform, BNB, was created to fund development and provide liquidity for traders. The token is used to pay fees and can also be used to buy goods and services using the Binance VISA debit card.

BNB is currently the 5th largest token by market cap and Binance exchange is 1st out of all CEXs by total volume traded. A CEX is a centralised exchange. CEXs differ from decentralised exchanges (DEXs) in that all trading services are controlled by a central entity instead of being controlled by smart contracts and automated market makers, and all tokens are held in wallets owned by this central entity as opposed to being held by individuals.

BNB token has some unique characteristics. Supply is deflationary, in that no more tokens can ever be minted and it also has a burning mechanism that continually reduces circulating supply over time.

Initially, BNB had 200,000,000 tokens. Since the project was founded in 2017, Binance has been burning a percentage of all fees on a quarterly basis. As of July 2022, almost 20% of the total supply had been burned and the circulating supply now sits at approximately 160,000,000 BNB. This process will continue until 50% of the original supply has been burned.

CEXs provide a useful service to crypto holders. There are a range of trading services available, including derivatives, lending, staking, and borrowing. Binance, being the biggest CEX, attracts many millions of users and has the potential to keep growing as the industry continues to expand.

If Binance CEX continues to grow, then you can be sure that more people will buy BNB to take advantage of the benefits being offered on the platform. Combined with the token’s unique tokenomics, including its burning mechanism, this has a promising long-term result on the price of BNB. Increased demand and continually reducing supply means price is destined to rise, which is why we’ve put BNB as 2nd on our list of best altcoins to buy 2023.

#3 Polygon (MATIC) – dApps at Scale

Polygon is a decentralised platform that brings Ethereum to scale. The network has an innovative scaling solution called Matic Plasma, which enables higher transaction throughput and lower fees. Matic Plasma uses sidechains to help reduce Ethereum’s high fees and in the process creates a better user experience for decentralised applications (dApps) in the Web3 ecosystem.

Since Polygon is a Layer 2 scaling solution for Ethereum, it has a number of key technical characteristics. Built on top of Ethereum’s Layer 1, the Polygon ecosystem has the same high level of security as Ethereum. Through its innovative sidechain solution, it can provide faster finality and deliver near-0 transaction fees, which serve to enhance the usability of the standard Ethereum blockchain.

The native token for the Polygon network is MATIC. It is used for transaction fees and to secure the network with rewards for validators. The token has a maximum supply of 10bn MATIC and a circulating supply of 8.7bn.

MATIC improves the user experience for platforms built on Ethereum – the largest infrastructure for decentralised applications in Web3. Since it can process a high number of transactions at a low cost, Polygon is used as the network of choice for many up-and-coming blockchain games.

GameFi relies on digital economies to provide liquidity for Play-to-Earn rewards. These economies process a high number of transactions by design and Polygon is perfectly suited to provide this service due to its optimised user experience.

Blockchain games can offer unique benefits to gamers and the domain is expected to keep expanding throughout the wider gaming industry. With that in mind, MATIC represents a prime investment for the future, as it is integral to a network that is destined to attract a high number of users over the coming years.

#4 LooksRare (LOOKS) – NFT Marketplace

LooksRare is a blockchain-based platform that enables the creation, collection, and trading of digital art and other collectibles. It is a new NFT marketplace that was launched in January 2022. The platform is home to top collections of digital artwork, including Bored Ape Yacht Club (BAYC) and CryptoPunks.

LooksRare offers a wide range of features and tools to help discover new pieces and participate in online auctions. The platform also supports the creation of non-fungible tokens (NFTs), which can be used to represent any type of collectible item on the LooksRare platform. It’s a flexible platform that provides a useful service to NFT enthusiasts.

LOOKS is the native token for the LooksRare platform. It has a number of key use cases. Among them are high percentage rewards for traders who have listed NFTs for sale on the platform.

The maximum supply for LOOKS is 1bn tokens. The current number of tokens in circulation is approximately 47% of this amount at 470,000,000. According to the LooksRare whitepaper, the total supply of LOOKS tokens is set to reach its maximum supply 2 years after the LooksRare platform was launched, which will be at the beginning of 2024.

LooksRare offers a more profitable incentive system for people selling NFTs. If a digital art collector wants to list an NFT from one of the platform’s supported collections, they can earn rewards every 10 minutes. Over time, these rewards can compound, and sellers can earn a high percentage APY for choosing the platform over alternative NFT marketplaces.

Digital artwork is expected to grow in popularity over the coming years. Additionally, LooksRare supports the buying and selling of any kind of NFT. So, as NFT technology becomes more widely adopted across gaming and other blockchain domains, then the LOOKS token could perform very well over the coming years.

#5 Avalanche (AVAX) – DAG Technology

Avalanche is a blockchain platform that enables users to create, transfer, and hold digital assets. It is a Layer 1 blockchain with a unique and innovative consensus protocol that is based on the Avalanche-Algo Consensus Engine (ACE). This mechanism uses a directed acyclic graph (DAG) to achieve consensus, which enables the network to process a high number of transactions while expending less energy than Proof of Work or Proof of Stake alternatives.

Avalanche supports a wide range of features, including smart contracts, decentralised applications (dApps), and tokenisation. The Avalanche network is highly scalable with the ability to process up to 4500 transactions per second (TPS). It is an open-source software that is available for anyone to use or contribute to and represents a secure and user-friendly alternative to block-mining ecosystems.

AVAX is the native token for Avalanche. AVAX tokens are used to secure the network by providing rewards for validators, as well as for transaction fees when sending digital currency peer-to-peer.

There are currently 300,000,000 AVAX tokens in circulation with the maximum supply being 720,000,000 AVAX. Over time, the remaining tokens will be unlocked and added to the circulating supply.

Avalanche is a new-age blockchain that offers an improved user experience when compared with legacy systems. The open-source network is highly scalable, highly secure, and decentralised, meaning the Avalanche protocol has solved the blockchain trilemma.

By offering smart contract compatibility alongside cheap fees and high TPS, Avalanche can become a hotbed of blockchain activity in the future. AVAX is a top 20 cryptocurrency by market cap with a price that is currently less than $14 after forming an all-time high of almost $150. The token is expected to reach these highs again over time.

Diversify your portfolio – Best Altcoin Round-up

The crypto crash of 2022 has been bleak for many investors. Some top projects, such as LUNA and FTT, completely capitulated. The silver lining for these cloudy conditions is that blockchain technology is highly resilient. There are many innovative projects that continue to build regardless of the price action and they could all make some major gains during the next bull market.

Metacade is just launching its presale event and with so much value in the project pipeline, investors have been keen to get involved. For now, you can get 125 MCADE per dollar invested which amounts to $0.008 per token. The presale price is set to rise to $0.02 and that’s before the token is released to the public later this year. 

The projects outlined in this article all have high potential and are some of the best altcoins you can buy in 2023, with each one offering innovative solutions in a variety of different blockchain sectors. If the crypto crash of 2022 taught us anything, it is that a diversified portfolio is key to offsetting market volatility. The five tokens listed here range from CEXs to decentralised marketplaces, Layer 1s to Layer 2s, and a high-potential gem in its early stages.

You can buy BNB on eToro here.

You can buy the MATIC on eToro here.

You can buy LOOKS on eToro here.

You can buy AVAX on eToro here.

You can participate in the MCADE presale here.

The post Best Altcoins To Buy During The Crypto Crash for 2023 appeared first on CoinJournal.

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Tel Aviv court allows Israel to seize crypto in over 150 blacklisted wallets

  • The Israeli government had blacklisted more than 150 wallets for links to terror groups.
  • The Israeli government can now take custody of all the cryptocurrencies in these blacklisted wallets.
  • Previously, Israeli authorities could only seize digital assets with direct links to terrorist activity but not all the funds in the same wallets.

A Tel Aviv magistrate court has issued a ruling allowing the government of Israel to seize all cryptocurrencies found in digital wallets blacklisted for allegedly funding terrorist activities. The ruling allows the government to take custody of all the cryptocurrencies found in the over 150 digital wallets that had been previously blacklisted for links to terror groups.

According to a local Israeli media report, Israeli Defense Minister Benny Gantz says that the ruling will allow the authorities to seize a further $33,500 from the digital wallets linked to the Islamist militia group Hamas in addition to the cryptocurrencies they had already seized. Hamas is classified as a terrorist organization by several countries including Israel, the US, the UK, and the European Union.

Prior to the ruling, the authorities could only seize those cryptocurrencies that were directly linked to terrorism but not all the crypto assets found in the specific wallets.

In December 2021, the Israeli government seized crypto assets worth about $750,000.

Hamas and cryptocurrencies

Hamas started appealing to its supporters to send funds using bitcoin (BTC) in 2019 to try and evade financial isolation and sanctions.

In July 2021, the defence minister signed an order authorizing security forces to take custody of crypto accounts linked to the militant wing of Hamas. At the time, the blacklisted accounts contained Tether (USDT), Ether (ETH), Dogecoin (DOGE), Ripple (XRP), Binance Coin (BNB), Zcash (ZEC), and Litecoin (LTC) among other altcoins.

In February this year, another 30 crypto wallets from twelve crypto exchanges with ties to Hamas were seized by the Israeli authorities. The exact value of the crypto assets in these wallets was not made public.

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NYDFS: Banks must seek approval before engaging with crypto

  • New York Department of Financial Services published the new guidelines on 15 December 2022.
  • All banking organisations must apply for permission to undertake any crypto activities.
  • The regulatory guidelines are effective immediately and come as the spotlight is firmly on crypto following FTX’s implosion.

Amid all the scrutiny on cryptocurrency exchanges after FTX’s collapse, the New York Department of Financial Services (NYDFS) has announced new guidelines targeting banks.

The NYDFS, the top financial regulator in the Empire State, said in an announcement that all banking institutions in the jurisdiction have to seek prior permission if they wish to get involved in the crypto space.

NYDFS’ new guidelines to banks

The agency specified in its 15 December letter to players within the banking industry that any involvement in virtual currency-related activities must first be addressed to authorities. Only once approved can such an entity go on to engage in the permitted initiative. 

The NYDFS said these demands apply to all New York-based banking organizations.

Also covered are all branches and agencies of foreign banks and other financial providers licensed to operate in the state. Combined, the regulator referred to the targeted entities as “Covered Institutions.”

“A Covered Institution should seek the Department’s prior approval before commencing any new or significantly different virtual currency-related activity,” the NYDFS wrote.

But even with approval to engage with crypto, banks will still need further permission to undertake new activities.

“Prior approval for a Covered Institution to engage in a virtual currency-related activity does not constitute general consent for that institution to engage in other types of virtual currency-related activity, nor does it authorize other Covered Institutions to undertake that same activity,” the letter reads in part.

Crypto in the spotlight

The NYDFS’ latest regulatory action comes amid the fallout of FTX’s implosion, a much more devastating setback to crypto in a year dictated with multiple bankruptcies and massive losses for investors. 

But the agency sees the crypto market as one that continues to evolve and innovate – part of the growth trajectory that has seen several banks seek to offer various crypto products and services.

The guidance is thus part of the thorough assessment for banks before they engage in digital assets-related activity, with the goal of ensuring safety for consumers. 

The requirements are effective immediately, the agency pointed out, and only apply on top of already existing laws and regulations.

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