Maluma, Messi Collaborations Show NFTs Becoming Mainstream
NFTs are not only increasing in volume but becoming mainstream as well. In the first half of 2020, only $13.7 million worth of NFTs were sold. By the time we completed the first half of 2021, the market had risen to a new high of $2.5 billion in sales. Collectibles were the most popular category, selling more than 367,000 NFTs in the first six months of 2021. However, populous categories, such as sports, arts, and games also scored high on units sold, indicating a growing interest in the general population about non-fungible tokens. Almost 300,000 NFTs were sold in the Sports category, while the field of arts registered more than 124,000 in unit sales, and games registered nearly 73,000.
One of the most recent additions to the list of prominent and popular artists leveraging NFTs is Maluma, the famous Latin Grammy Award-winning superstar.
Ethernity is one of the most well-known NFT projects that auction verified artworks in tokenized format. Not only does it feature authenticated artworks of top artists, but it also includes stars and eminent personalities from the world of sports, music, film, gaming, tech, history, and entertainment.
Maluma has partnered with Ethernity chain on what is seen as a "revolutionary visual effects NFT art series." The NFT drop will also feature an ensemble of unshared photographs from Maluma’s life and unseen footage from the artist’s life.
Alejandro Robledo Mejia processed the footage into fine gold sheets and subsequently mapped them onto Maluma’s 3D face. While the photographs would dissolve into gold, the drop would also have a custom-built frame that Maluma sketched himself along with his handwritten personal note signed into the artwork.
Nick Rose, the CEO of Ethernity Chain, is excited about this upcoming NFT drop. His elation about the collaboration becomes amply evident when he says, "We live for this type of partnership." He also thinks that this collaboration would be the next step for Ethernity as well as for NFTs.
Overall, the project combines the pure artistic value of NFTs with that of advanced cryptography. The tokenized artwork will be up for people to see on stage during Maluma’s upcoming 2021 Papi Juancho World Tour.
Before Maluma, it was legendary footballer Lionel Messi’s turn to make a move towards NFTs. He believed that NFTs were another way to connect with the fans. Comparing the agelessness of art with that of football, Messi launched his first official NFT in collaboration with Boss Logic and Ethernity.
The exclusive images created by BossLogic reflected the successes in Messi’s career. Ethernity platform, on the other hand, hosted the Messiverse collection for purchase. These NFTs were noscriptd "Man from the Future," "Worth the Weight" and "The King Piece," while the creative agency Impossible Brief had another piece to release.
The overarching theme of the NFTs is to highlight the achievements, moments, team love, and future accomplishments surrounding Messi, the man himself.
The popularity of the NFTs, and their adoption by sporting legends, is undoubtedly reflective of the fast mainstreaming of the tokens. Even before Maluma and Messi, Ethernity collections featured other legends like Muhammad Ali and Pele on their collection.
NFTs are not only increasing in volume but becoming mainstream as well. In the first half of 2020, only $13.7 million worth of NFTs were sold. By the time we completed the first half of 2021, the market had risen to a new high of $2.5 billion in sales. Collectibles were the most popular category, selling more than 367,000 NFTs in the first six months of 2021. However, populous categories, such as sports, arts, and games also scored high on units sold, indicating a growing interest in the general population about non-fungible tokens. Almost 300,000 NFTs were sold in the Sports category, while the field of arts registered more than 124,000 in unit sales, and games registered nearly 73,000.
One of the most recent additions to the list of prominent and popular artists leveraging NFTs is Maluma, the famous Latin Grammy Award-winning superstar.
Ethernity is one of the most well-known NFT projects that auction verified artworks in tokenized format. Not only does it feature authenticated artworks of top artists, but it also includes stars and eminent personalities from the world of sports, music, film, gaming, tech, history, and entertainment.
Maluma has partnered with Ethernity chain on what is seen as a "revolutionary visual effects NFT art series." The NFT drop will also feature an ensemble of unshared photographs from Maluma’s life and unseen footage from the artist’s life.
Alejandro Robledo Mejia processed the footage into fine gold sheets and subsequently mapped them onto Maluma’s 3D face. While the photographs would dissolve into gold, the drop would also have a custom-built frame that Maluma sketched himself along with his handwritten personal note signed into the artwork.
Nick Rose, the CEO of Ethernity Chain, is excited about this upcoming NFT drop. His elation about the collaboration becomes amply evident when he says, "We live for this type of partnership." He also thinks that this collaboration would be the next step for Ethernity as well as for NFTs.
Overall, the project combines the pure artistic value of NFTs with that of advanced cryptography. The tokenized artwork will be up for people to see on stage during Maluma’s upcoming 2021 Papi Juancho World Tour.
Before Maluma, it was legendary footballer Lionel Messi’s turn to make a move towards NFTs. He believed that NFTs were another way to connect with the fans. Comparing the agelessness of art with that of football, Messi launched his first official NFT in collaboration with Boss Logic and Ethernity.
The exclusive images created by BossLogic reflected the successes in Messi’s career. Ethernity platform, on the other hand, hosted the Messiverse collection for purchase. These NFTs were noscriptd "Man from the Future," "Worth the Weight" and "The King Piece," while the creative agency Impossible Brief had another piece to release.
The overarching theme of the NFTs is to highlight the achievements, moments, team love, and future accomplishments surrounding Messi, the man himself.
The popularity of the NFTs, and their adoption by sporting legends, is undoubtedly reflective of the fast mainstreaming of the tokens. Even before Maluma and Messi, Ethernity collections featured other legends like Muhammad Ali and Pele on their collection.
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🚀 Next FAIR LAUNCH (BSC)
🗓 Date : Thursday 2nd
📐Initial Market Cap : $10k
🔒Liquidity : Locked 12 months
💸 Reflexion Token : 5% dividends
💎 Massive Auto Airdrop
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EQIFI - The First Regulated DeFi in partnership with a Global Digital Bank!
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Secure community powered global banking:
Get more with our:
Yield Aggregator, Staking, Borrowing and Lending!
Join now! t.me/eqifi and www.eqifi.com
Institutional customers: Find EQX on Bloomberg, Refinitiv, Morningstar, Six and others!
Upd: EQIFi has just partnered with Tezos!
✔️ SWAPP Protocol is now live on PancakeSwap! A protocol that is fully backed by a real data company.
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Cryptocurrencies Are Forcing Central Banks To Hasten Roll-Out Of CBDCs
A feeling of consternation may well be being felt across the world’s central banks as cryptocurrencies are experiencing exponential growth, and none less so than at the central bank of central banks, the Bank of International Settlements.
According to an article on Bloomberg, the BIS will trial its CBDC with the four countries in a project code-named “Dunbar”. It is hoped by the bank that the project will lead to a more efficient global payment system. It will prototype the CBDCs in order to streamline them to reduce time and cost.
Not only does the BIS have to contend with cryptocurrencies, but also with China’s two big online payment systems, Alipay, and WeChat Pay, plus the Facebook-backed Diem project, which also hopes to roll out its own stablecoin this year, in spite of a great deal of push-back from legislators and regulators.
However, even if the BIS doesn’t openly admit it, the main threat to its CBDC project are cryptocurrencies. The Chinese online payment systems can, and probably will be, side-lined by the Chinese government, in order to let their own CBDC reign supreme, while the Diem stablecoin can also be quashed by the US legislative system.
This certainly isn’t the case with cryptocurrencies. They have been operating for years, and much infrastructure has already been built out. Adoption of these digital assets is either approaching the tipping point, or will do so during the current crypto bull market.
It can certainly be recognised that regulation may well have a dampening effect on the crypto market, however, it is only a matter of time before people wake up to the debasement of every fiat currency across the globe, and to the fact that CBDCs will be used to control populations.
Freedom is only gained by moving out of the banking system into assets that are outside of it. Assets that government will not be able to steal from you, as they currently do through inflating the fiat monetary system.
A feeling of consternation may well be being felt across the world’s central banks as cryptocurrencies are experiencing exponential growth, and none less so than at the central bank of central banks, the Bank of International Settlements.
According to an article on Bloomberg, the BIS will trial its CBDC with the four countries in a project code-named “Dunbar”. It is hoped by the bank that the project will lead to a more efficient global payment system. It will prototype the CBDCs in order to streamline them to reduce time and cost.
Not only does the BIS have to contend with cryptocurrencies, but also with China’s two big online payment systems, Alipay, and WeChat Pay, plus the Facebook-backed Diem project, which also hopes to roll out its own stablecoin this year, in spite of a great deal of push-back from legislators and regulators.
However, even if the BIS doesn’t openly admit it, the main threat to its CBDC project are cryptocurrencies. The Chinese online payment systems can, and probably will be, side-lined by the Chinese government, in order to let their own CBDC reign supreme, while the Diem stablecoin can also be quashed by the US legislative system.
This certainly isn’t the case with cryptocurrencies. They have been operating for years, and much infrastructure has already been built out. Adoption of these digital assets is either approaching the tipping point, or will do so during the current crypto bull market.
It can certainly be recognised that regulation may well have a dampening effect on the crypto market, however, it is only a matter of time before people wake up to the debasement of every fiat currency across the globe, and to the fact that CBDCs will be used to control populations.
Freedom is only gained by moving out of the banking system into assets that are outside of it. Assets that government will not be able to steal from you, as they currently do through inflating the fiat monetary system.
Price Appreciation Isn’t Guaranteed, So Start Making Money With Idle NFTs And DeFi Assets
Most people purchase non-fungible tokens (NFTs) with the intention of hopefully selling them at a much higher price in the future. And some NFT holders don’t want to sell their prized possessions, but that doesn’t mean they can’t benefit from them at all.
It’s a well-known fact that investing in any market has a certain level of risk. Moreover, price appreciation of any asset isn’t guaranteed and there can be a significant opportunity cost associated with holding idle assets on a long-term basis. This is also true with NFTs because their fair value is largely undetermined due to their highly speculative nature.
NFTs are arguably the most abstract types of assets that have ever been created and traded. Recently, a “COVID Alien” NFT sold for over $10 million and it’s quite possible that other buyers may not want to pay anywhere near that amount for such an item. Many people find NFTs to be quite ridiculous so it can be challenging (if not impossible) to assign them an objective monetary value.
However, there are certain strategies investors can employ to begin earning steady returns from their NFT or DeFi assets.
Leverage your NFTs to participate in yield farming
Most experienced investors would know that the art and collectible markets are considerably more “liquidity-starved” compared to the traditional equity, gold markets, and other asset classes. And this liquidity crisis is even more common in the NFT space, which is in its infancy.
It can take a very long time to match serious buyers and honest sellers or lenders and borrowers. Without the right amount of liquidity, NFT holders might not be able to find the best deal and could end up selling their collectibles for extremely low prices if they need money right away for some reason.
Drops Crypto is a platform that allows NFT owners to generate capital by providing their NFTs as collateral. The platform aims to offer users with attractive options that allow them to effectively leverage their assets for loans and participate in yield farming opportunities.
It will allow users to create NFT vaults where funds borrowed against NFT and DeFi assets are sent straight to a yield farming strategy, enabling yield farming using NFTs.
You can also lower the opportunity cost of holding governance or liquidity tokens by putting them up as collateral to earn considerable yield. Additionally, you may utilize the NFTs as collateral to get trustless loans. Lending through Drops is powered by permissionless NFT lending pools. Users may also generate returns with their “idle” assets by providing stablecoins, governance tokens to fungible or NFT lending pools and earn competitive APYs.
Most people purchase non-fungible tokens (NFTs) with the intention of hopefully selling them at a much higher price in the future. And some NFT holders don’t want to sell their prized possessions, but that doesn’t mean they can’t benefit from them at all.
It’s a well-known fact that investing in any market has a certain level of risk. Moreover, price appreciation of any asset isn’t guaranteed and there can be a significant opportunity cost associated with holding idle assets on a long-term basis. This is also true with NFTs because their fair value is largely undetermined due to their highly speculative nature.
NFTs are arguably the most abstract types of assets that have ever been created and traded. Recently, a “COVID Alien” NFT sold for over $10 million and it’s quite possible that other buyers may not want to pay anywhere near that amount for such an item. Many people find NFTs to be quite ridiculous so it can be challenging (if not impossible) to assign them an objective monetary value.
However, there are certain strategies investors can employ to begin earning steady returns from their NFT or DeFi assets.
Leverage your NFTs to participate in yield farming
Most experienced investors would know that the art and collectible markets are considerably more “liquidity-starved” compared to the traditional equity, gold markets, and other asset classes. And this liquidity crisis is even more common in the NFT space, which is in its infancy.
It can take a very long time to match serious buyers and honest sellers or lenders and borrowers. Without the right amount of liquidity, NFT holders might not be able to find the best deal and could end up selling their collectibles for extremely low prices if they need money right away for some reason.
Drops Crypto is a platform that allows NFT owners to generate capital by providing their NFTs as collateral. The platform aims to offer users with attractive options that allow them to effectively leverage their assets for loans and participate in yield farming opportunities.
It will allow users to create NFT vaults where funds borrowed against NFT and DeFi assets are sent straight to a yield farming strategy, enabling yield farming using NFTs.
You can also lower the opportunity cost of holding governance or liquidity tokens by putting them up as collateral to earn considerable yield. Additionally, you may utilize the NFTs as collateral to get trustless loans. Lending through Drops is powered by permissionless NFT lending pools. Users may also generate returns with their “idle” assets by providing stablecoins, governance tokens to fungible or NFT lending pools and earn competitive APYs.
Moonbeam Partners With Lido To Bring Liquid Staking To Polkadot
Moonbeam, the Ethereum blockchain-compatible smart contract platform built on Polkadot, reveals that it will be integrating with and working closely with Lido, one of the largest liquid staking derivatives protocols, which is live on Ethereum and Terra.
According to the announcement, the collaboration will be driven by MixBytes, which was chosen by the Lido DAO to take care of the technical integration for the Polkadot ecosystem. This integration will bring liquid staking to Moonriver and Moonbeam, and it will also offer DOT holders the opportunity to stake their crypto-assets while being able to access the liquidity of that staked position.
The launch of Lido aims to offer an important building block for the fast-evolving DeFi ecosystem on Moonbeam, offering a way for digital token holders to effectively utilize and leverage their Polkadot ecosystem assets.
Governed by the Lido DAO (distributed autonomous organization), Lido has become one of the biggest and most frequently-used liquid staking protocols globally. With its foundation based on Ethereum staking, Lido is beginning to expand to offer liquid staking solutions to various other protocols like Terra and Solana.
For their ongoing expansion to Polkadot, Lido chose Moonbeam to offer the parachain infrastructure and cross-chain integrations, since its Ethereum-compatible smart contract capability enables Lido to use Ethereum tools and source code to get to market a lot faster.
Misha Putyatin, CEO at MixBytes, noted that after examining different parachain partners and implementations including developing an independently-functioning parachain, they were quite impressed by the Moonbeam team and their “ambitions.”
Misha added that Moonbeam satisfies their technical requirements with its EVM smart contracts, cross-chain integration functionality and support of their protocol-level dependencies via their DeFi ecosystem which includes stableswap AMMs, lending and borrowing, and other protocols that Lido requires.
Additionally, Lido offers a critical capability for Moonbeam’s fast-evolving DeFi ecosystem. A primary motivation for project teams launching on Moonbeam is to have the ability to natively serve DOT as an asset.
By offering DOT holders with access to a parachain-enabled liquid staking derivative, DOT holders don’t have to select between staking yield on the Relay Chain and DeFi yield positions on Moonbeam.
Liquid staking derivatives are expected to substantially increase the volume of assets being channeled into Moonbeam, and lead to more TVL (or total value locked) and key opportunities for transaction growth for DeFi solutions launched on Moonbeam.
Liquid staking derivatives may be considered an important component for facilitating the growth of the DeFi ecosystem on Moonbeam and Polkadot, according to Derek Yoo, Founder of Moonbeam.
He added that since they first met, they’ve been impressed by the Lido team’s technical expertise, extensive domain knowledge, and the “market traction” of their protocol. He also noted that they’re looking forward to working with them in order to bring stDOT and various other staking derivatives to the Polkadot ecosystem.
The Lido and Moonbeam technical teams are working cooperatively to provide an initial liquid staking implementation on Moonriver, which is the Kusama-powered sister network of Moonbeam. This integration should serve as a use case for the Polkadot-native cross-chain messaging protocol (XCMP), which may offer access to KSM and relay chain staking capability from the Moonriver-powered EVM environment.
Lido is set to launch on Moonriver in the coming months. After it has proven itself on Moonriver, the XCMP-enabled integrations and Lido protocol may be launched on Moonbeam in order to serve DOT.
Moonbeam, the Ethereum blockchain-compatible smart contract platform built on Polkadot, reveals that it will be integrating with and working closely with Lido, one of the largest liquid staking derivatives protocols, which is live on Ethereum and Terra.
According to the announcement, the collaboration will be driven by MixBytes, which was chosen by the Lido DAO to take care of the technical integration for the Polkadot ecosystem. This integration will bring liquid staking to Moonriver and Moonbeam, and it will also offer DOT holders the opportunity to stake their crypto-assets while being able to access the liquidity of that staked position.
The launch of Lido aims to offer an important building block for the fast-evolving DeFi ecosystem on Moonbeam, offering a way for digital token holders to effectively utilize and leverage their Polkadot ecosystem assets.
Governed by the Lido DAO (distributed autonomous organization), Lido has become one of the biggest and most frequently-used liquid staking protocols globally. With its foundation based on Ethereum staking, Lido is beginning to expand to offer liquid staking solutions to various other protocols like Terra and Solana.
For their ongoing expansion to Polkadot, Lido chose Moonbeam to offer the parachain infrastructure and cross-chain integrations, since its Ethereum-compatible smart contract capability enables Lido to use Ethereum tools and source code to get to market a lot faster.
Misha Putyatin, CEO at MixBytes, noted that after examining different parachain partners and implementations including developing an independently-functioning parachain, they were quite impressed by the Moonbeam team and their “ambitions.”
Misha added that Moonbeam satisfies their technical requirements with its EVM smart contracts, cross-chain integration functionality and support of their protocol-level dependencies via their DeFi ecosystem which includes stableswap AMMs, lending and borrowing, and other protocols that Lido requires.
Additionally, Lido offers a critical capability for Moonbeam’s fast-evolving DeFi ecosystem. A primary motivation for project teams launching on Moonbeam is to have the ability to natively serve DOT as an asset.
By offering DOT holders with access to a parachain-enabled liquid staking derivative, DOT holders don’t have to select between staking yield on the Relay Chain and DeFi yield positions on Moonbeam.
Liquid staking derivatives are expected to substantially increase the volume of assets being channeled into Moonbeam, and lead to more TVL (or total value locked) and key opportunities for transaction growth for DeFi solutions launched on Moonbeam.
Liquid staking derivatives may be considered an important component for facilitating the growth of the DeFi ecosystem on Moonbeam and Polkadot, according to Derek Yoo, Founder of Moonbeam.
He added that since they first met, they’ve been impressed by the Lido team’s technical expertise, extensive domain knowledge, and the “market traction” of their protocol. He also noted that they’re looking forward to working with them in order to bring stDOT and various other staking derivatives to the Polkadot ecosystem.
The Lido and Moonbeam technical teams are working cooperatively to provide an initial liquid staking implementation on Moonriver, which is the Kusama-powered sister network of Moonbeam. This integration should serve as a use case for the Polkadot-native cross-chain messaging protocol (XCMP), which may offer access to KSM and relay chain staking capability from the Moonriver-powered EVM environment.
Lido is set to launch on Moonriver in the coming months. After it has proven itself on Moonriver, the XCMP-enabled integrations and Lido protocol may be launched on Moonbeam in order to serve DOT.
Cycle4Value Leverages Ardor To Incentivize Cycling While Reducing Carbon Emissions & Improving Health
Cycle4Value, a blockchain-based gamification project that rewards users for regular cycling, uses the Ardor blockchain to develop a transparent and low-threshold reward model to promote cycling. The project will reward cyclists for regular cycling via “Cycle Tokens” powered by Ardor’s ecosystem.
Bike Citizens, in collaboration with technical partners Seewald Solutions, Danube Unversity Krems, and yVerkehrsplanung, designed the Cycle4Value initiative to reduce road traffic, enhance health, and reduce carbon emissions while rewarding participants. "Cycle tokens'' are utility tokens that can be exchanged for goods and services via smart contracts. All tokens earned by users will be stored in their digital wallets and redeemed through a marketplace within the Bike Citizens app.
Funded by the Federal Ministry for Climate Protection as part of the FTI program Mobility of the Future and managed by the Austrian Research Promotion Agency (FFG), the Cycle4Value campaign is currently being tested in the Austrian cities Graz and Krems. Ducks Coffee Shop in Graz and Cafe Virginier in Krems serve as participating outlets for users to redeem the tokens they earn.
Thomas Wernbacher, head of Cycle4Value project, adds, “I am excited about the combination of a sustainable blockchain architecture and a reward system for the incentivization of cycling as a future-oriented means of transport.”
The Ardor blockchain, developed and maintained by Jelurida, provides the underlying infrastructure to help build a safe and transparent value generation process, both for the participants and the environment. Cycle4Value is deployed on the Ignis child chain of Ardor, allowing it to leverage the distributed infrastructure from the Ardor parent chain, which also takes care of the decentralized consensus algorithm.
The Ardor blockchain offers a unique parent-child multichain architecture. It provides Cycle4Value and other similar projects with the required flexibility to address real-world use cases while ensuring security, interoperability, transparency, and fully customizable blockchain infrastructure. Moreover, the Ardor blockchain also addresses the critical challenges of legacy blockchains, including network congestion, dependency on a single token standard, and high gas fees.
While several other gamified projects like HotCity and TreeCycle aiming to better society use Ardor as their preferred infrastructure, the Cycle4Value project is one of the few initiatives that is fully leveraging the unique architecture of Ardor’s interoperable parent-child chains. Cycle4Value has mapped and automated the end-to-end process of triggering, distributing, and redeeming cycle tokens with Ardor and its child chain Ignis. By deploying on top of Ardor’s secure infrastructure, the project ensures that all accounts, data, and transactions are defended against hacks and frauds.
Compared to legacy blockchains that rely on the resource-consuming proof-of-work (PoW) consensus protocol, Ardor utilizes 100% proof-of-stake (PoS) protocol, which is extremely energy-efficient. It doesn’t require expensive hardware or solving complex algorithms for mining, thus lowering energy usage and carbon footprint. Ardor's ease of use, scalability, and sustainability, combined with its real-world applicability, make it a good choice for public and private systems, working on all desktops and mobile devices.
Cycle4Value, a blockchain-based gamification project that rewards users for regular cycling, uses the Ardor blockchain to develop a transparent and low-threshold reward model to promote cycling. The project will reward cyclists for regular cycling via “Cycle Tokens” powered by Ardor’s ecosystem.
Bike Citizens, in collaboration with technical partners Seewald Solutions, Danube Unversity Krems, and yVerkehrsplanung, designed the Cycle4Value initiative to reduce road traffic, enhance health, and reduce carbon emissions while rewarding participants. "Cycle tokens'' are utility tokens that can be exchanged for goods and services via smart contracts. All tokens earned by users will be stored in their digital wallets and redeemed through a marketplace within the Bike Citizens app.
Funded by the Federal Ministry for Climate Protection as part of the FTI program Mobility of the Future and managed by the Austrian Research Promotion Agency (FFG), the Cycle4Value campaign is currently being tested in the Austrian cities Graz and Krems. Ducks Coffee Shop in Graz and Cafe Virginier in Krems serve as participating outlets for users to redeem the tokens they earn.
Thomas Wernbacher, head of Cycle4Value project, adds, “I am excited about the combination of a sustainable blockchain architecture and a reward system for the incentivization of cycling as a future-oriented means of transport.”
The Ardor blockchain, developed and maintained by Jelurida, provides the underlying infrastructure to help build a safe and transparent value generation process, both for the participants and the environment. Cycle4Value is deployed on the Ignis child chain of Ardor, allowing it to leverage the distributed infrastructure from the Ardor parent chain, which also takes care of the decentralized consensus algorithm.
The Ardor blockchain offers a unique parent-child multichain architecture. It provides Cycle4Value and other similar projects with the required flexibility to address real-world use cases while ensuring security, interoperability, transparency, and fully customizable blockchain infrastructure. Moreover, the Ardor blockchain also addresses the critical challenges of legacy blockchains, including network congestion, dependency on a single token standard, and high gas fees.
While several other gamified projects like HotCity and TreeCycle aiming to better society use Ardor as their preferred infrastructure, the Cycle4Value project is one of the few initiatives that is fully leveraging the unique architecture of Ardor’s interoperable parent-child chains. Cycle4Value has mapped and automated the end-to-end process of triggering, distributing, and redeeming cycle tokens with Ardor and its child chain Ignis. By deploying on top of Ardor’s secure infrastructure, the project ensures that all accounts, data, and transactions are defended against hacks and frauds.
Compared to legacy blockchains that rely on the resource-consuming proof-of-work (PoW) consensus protocol, Ardor utilizes 100% proof-of-stake (PoS) protocol, which is extremely energy-efficient. It doesn’t require expensive hardware or solving complex algorithms for mining, thus lowering energy usage and carbon footprint. Ardor's ease of use, scalability, and sustainability, combined with its real-world applicability, make it a good choice for public and private systems, working on all desktops and mobile devices.
Lagarde Continues Authoritarian Approach To Cryptocurrencies
Christine Lagarde, the President of the European Central Bank has once again thrown scorn on cryptocurrencies, calling them “highly speculative” and “suspicious”.
Central banks are absolutely against cryptocurrencies. Why? Because they threaten their existence – they hold the answer to the broken world of the debt-based ponzi scheme called fiat currencies.
Lagarde listened with tight lipped disapproval, as she was interviewed on Bloomberg TV. The interviewer was asking if she thought that cryptocurrencies were a good thing for the global economy.
The Central Bank President adamently stated that cryptocurrencies aren’t currencies.
“Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not!”
The president then went on to say that they were “suspicious occasionally” and used the dog-eared old war cry of “high intensity in terms of energy consumption”. She continued by saying:
“On the other hand, you have those stablecoins that are beginning to proliferate, which some big techs are trying to promote and push along the way, which are a different animal and need to be regulated where there has to be oversight”
She then put forward how central banks would answer to the demand from customers for central bank currencies that would be the perfect fit for this century.
“This is why we are now all looking at CBDCs (Central Bank Digital Currencies), so that instead of having bank notes and cash in our wallets, we can have the same thing but in a digital form.”
Lagarde said that the CBDCs would work side by side with the existing physical cash system so that customers could choose what worked better for them.
Once again, there is no mention of the failings of the fiat system by Lagarde. Of course, there probably just couldn’t be, given that to admit to the failings would be a massive boost to cryptocurrencies, which in many areas, are doing a far better job.
Cryptocurrencies certainly aren’t perfect. Many problems need to be ironed out as this nascent industry grows. However, the fiat monetary system is utterly broken, and only serves the wealthy, the banks, and those in power.
It’s only a matter of time before technology puts such an arcane system into the trash can of history. Regulators, spurred on by the big banks, may well put a few spanners in the works, but it is hoped that monetary freedom will prevail in the end.
Christine Lagarde, the President of the European Central Bank has once again thrown scorn on cryptocurrencies, calling them “highly speculative” and “suspicious”.
Central banks are absolutely against cryptocurrencies. Why? Because they threaten their existence – they hold the answer to the broken world of the debt-based ponzi scheme called fiat currencies.
Lagarde listened with tight lipped disapproval, as she was interviewed on Bloomberg TV. The interviewer was asking if she thought that cryptocurrencies were a good thing for the global economy.
The Central Bank President adamently stated that cryptocurrencies aren’t currencies.
“Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not!”
The president then went on to say that they were “suspicious occasionally” and used the dog-eared old war cry of “high intensity in terms of energy consumption”. She continued by saying:
“On the other hand, you have those stablecoins that are beginning to proliferate, which some big techs are trying to promote and push along the way, which are a different animal and need to be regulated where there has to be oversight”
She then put forward how central banks would answer to the demand from customers for central bank currencies that would be the perfect fit for this century.
“This is why we are now all looking at CBDCs (Central Bank Digital Currencies), so that instead of having bank notes and cash in our wallets, we can have the same thing but in a digital form.”
Lagarde said that the CBDCs would work side by side with the existing physical cash system so that customers could choose what worked better for them.
Once again, there is no mention of the failings of the fiat system by Lagarde. Of course, there probably just couldn’t be, given that to admit to the failings would be a massive boost to cryptocurrencies, which in many areas, are doing a far better job.
Cryptocurrencies certainly aren’t perfect. Many problems need to be ironed out as this nascent industry grows. However, the fiat monetary system is utterly broken, and only serves the wealthy, the banks, and those in power.
It’s only a matter of time before technology puts such an arcane system into the trash can of history. Regulators, spurred on by the big banks, may well put a few spanners in the works, but it is hoped that monetary freedom will prevail in the end.
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Will Stablecoins Threaten Financial Stability?
The cryptocurrency space is awash with negative comments from figureheads of the traditional financial system, whether that be from bank officials or leading lawmakers and influential figures from the SEC and the Treasury.
However, what appears to be most vexing the top officials in the US financial system are the $120 billion in stablecoins, circulating throughout crypto, and used as a peg against fiat currencies such as the US dollar, the euro, pound sterling etc.
According to an article on Bloomberg, officials are worried about the potential impact of stablecoins.
"They’re also worried that widespread, fire-sale runs on crypto assets could threaten financial stability and that certain stablecoins could scale up dangerously fast."
The article tells of the possible launch of a formal review of stablecoins. This could be launched by the Financial Stability Oversight Council, which could lead to far-reaching regulation for stablecoins.
One worry is that stablecoins are being used for transactions that are quite similar to those taking place in the traditional banking industry, with the difference that they are paying markedly better returns to investors.
For example, most bank saving accounts would only offer the investor less than a 1% interest return. In crypto, this return can vary from around 10% up to around 20% on certain platforms. The protocols being used are entirely removing the middle men, who are prevalent across the whole of the banking sector.
A main argument put forward by regulatory officials is that consumers do not receive the same level of protections. Notwithstanding, many consumers appear more than willing to take this risk in order to beat the miserly bank interest rates.
Stablecoins in the crypto sector are not the only headache to be concerning treasury officials. The Facebook-backed Diem stablecoin is due to be rolled out later this year, regulatory approval permitting. This would permit Facebook users and those of partner platforms to buy crypto and other products with the Diem coin.
Statements such as “the wild west of crypto” and a new kind of “shadow banking” are being put out by the likes of Gary Gensler, chair of the SEC. But when it comes down to it, US officialdom is going to have to tread a tightrope in order to attempt to please the banking industry as well as a relatively new industry full of innovative financial products.
The banking sector does not serve retail customers well. In fact, it serves them very, very badly. Things need to change. Will Gensler and co carry out their mandate to protect the interests of the investor, or will they succumb to pressure from the banks?
The cryptocurrency space is awash with negative comments from figureheads of the traditional financial system, whether that be from bank officials or leading lawmakers and influential figures from the SEC and the Treasury.
However, what appears to be most vexing the top officials in the US financial system are the $120 billion in stablecoins, circulating throughout crypto, and used as a peg against fiat currencies such as the US dollar, the euro, pound sterling etc.
According to an article on Bloomberg, officials are worried about the potential impact of stablecoins.
"They’re also worried that widespread, fire-sale runs on crypto assets could threaten financial stability and that certain stablecoins could scale up dangerously fast."
The article tells of the possible launch of a formal review of stablecoins. This could be launched by the Financial Stability Oversight Council, which could lead to far-reaching regulation for stablecoins.
One worry is that stablecoins are being used for transactions that are quite similar to those taking place in the traditional banking industry, with the difference that they are paying markedly better returns to investors.
For example, most bank saving accounts would only offer the investor less than a 1% interest return. In crypto, this return can vary from around 10% up to around 20% on certain platforms. The protocols being used are entirely removing the middle men, who are prevalent across the whole of the banking sector.
A main argument put forward by regulatory officials is that consumers do not receive the same level of protections. Notwithstanding, many consumers appear more than willing to take this risk in order to beat the miserly bank interest rates.
Stablecoins in the crypto sector are not the only headache to be concerning treasury officials. The Facebook-backed Diem stablecoin is due to be rolled out later this year, regulatory approval permitting. This would permit Facebook users and those of partner platforms to buy crypto and other products with the Diem coin.
Statements such as “the wild west of crypto” and a new kind of “shadow banking” are being put out by the likes of Gary Gensler, chair of the SEC. But when it comes down to it, US officialdom is going to have to tread a tightrope in order to attempt to please the banking industry as well as a relatively new industry full of innovative financial products.
The banking sector does not serve retail customers well. In fact, it serves them very, very badly. Things need to change. Will Gensler and co carry out their mandate to protect the interests of the investor, or will they succumb to pressure from the banks?
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✨ Welcome to Manga Token Community ✨
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Manga Token is a reward, payment, and staking token for the Manga industry, that can empower manga artists through a new form of digital merchandise called Manga NFTs.
These NFTs are made available to collectors through our Manga NFT Marketplace, TROPHEE.XYZ.
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Could Banks Be Precluded From Getting Involved In Crypto?
The war on crypto continues unabated as global securities, derivatives, and financial trade associations wrote a joint letter to the Bank of International Settlements (BIS) complaining that the rules for banks becoming involved with crypto companies were too strict.
The letter from these associations pointed out that the underlying technology for cryptoassets “make it possible to deliver financial services more quickly, securely and at lower cost.”
The letter went on to state how distributed ledger technology (DLT) would offer benefits to the economy:
“That type of economic efficiency would lead to tangible benefits for the real economy and it is critical, from a public policy perspective, that these benefits are able to be delivered by financial institutions within the regulatory perimeter.”
The letter also pinpointed the speed and transparency with which transactions are carried out, the ability to swap and record assets and cash simultaneously, the mitigation of counterparty, liquidity, and settlement risk, would all lead to lower transaction costs and facilitate a more competitive marketplace.
The associations involved in the letter to the BIS include the GFMA for the securities sector, the ISDA and the FIA for the derivatives associations, the Institute for International Finance (IIF) and the Chamber for Digital Commerce among others.
However, the Bank of International Settlements (BIS) published a consultation paper in June this year, whereby it was proposed that banks getting involved with cryptoassets would have to comply with prohibitively heavy capital requirements.
In short, the banks would be far more unlikely to integrate crypto products given that the BIS proposal would make it economically prohibitive to do so.
Once again, the incredible innovation to be found in the crypto sector is being stymied and blunted at every turn by supremely powerful institutions that worry about being side-lined by such a lean and transformative industry.
Given the BIS previous history of anti-cryptocurrency sentiment these associations will possibly be banging their heads against a wall. Many decades of influence over financial affairs has helped the central banks to become entrenched as the door keepers to the financial system. Given the appalling state of global economies though, change must be allowed to take place.
The war on crypto continues unabated as global securities, derivatives, and financial trade associations wrote a joint letter to the Bank of International Settlements (BIS) complaining that the rules for banks becoming involved with crypto companies were too strict.
The letter from these associations pointed out that the underlying technology for cryptoassets “make it possible to deliver financial services more quickly, securely and at lower cost.”
The letter went on to state how distributed ledger technology (DLT) would offer benefits to the economy:
“That type of economic efficiency would lead to tangible benefits for the real economy and it is critical, from a public policy perspective, that these benefits are able to be delivered by financial institutions within the regulatory perimeter.”
The letter also pinpointed the speed and transparency with which transactions are carried out, the ability to swap and record assets and cash simultaneously, the mitigation of counterparty, liquidity, and settlement risk, would all lead to lower transaction costs and facilitate a more competitive marketplace.
The associations involved in the letter to the BIS include the GFMA for the securities sector, the ISDA and the FIA for the derivatives associations, the Institute for International Finance (IIF) and the Chamber for Digital Commerce among others.
However, the Bank of International Settlements (BIS) published a consultation paper in June this year, whereby it was proposed that banks getting involved with cryptoassets would have to comply with prohibitively heavy capital requirements.
In short, the banks would be far more unlikely to integrate crypto products given that the BIS proposal would make it economically prohibitive to do so.
Once again, the incredible innovation to be found in the crypto sector is being stymied and blunted at every turn by supremely powerful institutions that worry about being side-lined by such a lean and transformative industry.
Given the BIS previous history of anti-cryptocurrency sentiment these associations will possibly be banging their heads against a wall. Many decades of influence over financial affairs has helped the central banks to become entrenched as the door keepers to the financial system. Given the appalling state of global economies though, change must be allowed to take place.
Polkadot’s Gavin Wood Talks Up Decentralization And Hints At Parachains Launch
On September 14, the Solana network witnessed an outage that took it offline for 17 hours. It was a major setback for the high-speed blockchain that has seen rapid growth in recent months, catapulting Solana into the top ten crypto projects by market cap. However, no funds were lost and the network returned to full functionality in under 24 hours.
Following the outage, Polkadot co-founder Gavin Wood took to Twitter to stress the importance of the decentralization and security models deployed in crypto networks, saying: “Events of today in crypto just go to show that genuine decentralization and well-designed security make a far more valuable proposition than some big tps numbers coming from an exclusive and closed set of servers. If you can't run a full-node yourself then it's just another bank.”
According to a post-mortem by the Solana Foundation, the cause of the network stall was effectively a denial of service attack, stating in its blog post: “At 12:00 UTC, Grape Protocol launched its IDO on Raydium, and bots generated transactions which flooded the network. These transactions created a memory overflow, which caused many validators to crash forcing the network to slow down and eventually stall. The network went offline when the validator network could not come to agreement on the current state of the blockchain, which prevented the network from confirming new blocks.”
Polkadot has taken the approach of a phased roll-out, with important milestones toward decentralization marking each phase. The multi-chain network uses a decentralized Nominated Proof-of-Stake consensus model, enabling greater participation and allowing nodes to join the network with much lower hardware requirements than the hungry processors of high TPS blockchains like Solana.
Polkadot’s advanced governance model also allows all DOT token holders to control decision-making for the protocol, with upgrades carried out autonomously on-chain to reflect their views.
Polkadot’s shared security model is another unique value proposition for projects considering becoming parachains on its network – the customizable layer-1 blockchains that run in parallel on Polkadots’s sharded infrastructure. The shared security model means that all parachains connected to Polkadot’s central Relay Chain benefit from the economic security provided by its validators.
Responding in a recent interview to when parachains could be launched on Polkadot, Wood suggested that they are “technologically” ready to launch and it was down to the protocol’s governance process to approve them.
With Polkadot’s live canary network Kusama having already successfully launched its first eight parachains, the path is now increasingly clear for parachains on Polkadot too, following this governance process.
“What I can tell you is things are going well on the Kusama side for trying out parachains. The audit, I'm not sure if it's complete yet, but if it's not complete, it's going to be completed in the next few days,” revealed Wood.
“We need to fix any of the issues that come from the audit. As far as I know, these are relatively small issues – nothing huge. And then after that, it's really just up to the governance of Polkadot. I can't flick the switch myself, but what I'm able to do is say, technologically speaking, parachains are ready and it's up to the governance of Polkadot to get them out there.”
On September 14, the Solana network witnessed an outage that took it offline for 17 hours. It was a major setback for the high-speed blockchain that has seen rapid growth in recent months, catapulting Solana into the top ten crypto projects by market cap. However, no funds were lost and the network returned to full functionality in under 24 hours.
Following the outage, Polkadot co-founder Gavin Wood took to Twitter to stress the importance of the decentralization and security models deployed in crypto networks, saying: “Events of today in crypto just go to show that genuine decentralization and well-designed security make a far more valuable proposition than some big tps numbers coming from an exclusive and closed set of servers. If you can't run a full-node yourself then it's just another bank.”
According to a post-mortem by the Solana Foundation, the cause of the network stall was effectively a denial of service attack, stating in its blog post: “At 12:00 UTC, Grape Protocol launched its IDO on Raydium, and bots generated transactions which flooded the network. These transactions created a memory overflow, which caused many validators to crash forcing the network to slow down and eventually stall. The network went offline when the validator network could not come to agreement on the current state of the blockchain, which prevented the network from confirming new blocks.”
Polkadot has taken the approach of a phased roll-out, with important milestones toward decentralization marking each phase. The multi-chain network uses a decentralized Nominated Proof-of-Stake consensus model, enabling greater participation and allowing nodes to join the network with much lower hardware requirements than the hungry processors of high TPS blockchains like Solana.
Polkadot’s advanced governance model also allows all DOT token holders to control decision-making for the protocol, with upgrades carried out autonomously on-chain to reflect their views.
Polkadot’s shared security model is another unique value proposition for projects considering becoming parachains on its network – the customizable layer-1 blockchains that run in parallel on Polkadots’s sharded infrastructure. The shared security model means that all parachains connected to Polkadot’s central Relay Chain benefit from the economic security provided by its validators.
Responding in a recent interview to when parachains could be launched on Polkadot, Wood suggested that they are “technologically” ready to launch and it was down to the protocol’s governance process to approve them.
With Polkadot’s live canary network Kusama having already successfully launched its first eight parachains, the path is now increasingly clear for parachains on Polkadot too, following this governance process.
“What I can tell you is things are going well on the Kusama side for trying out parachains. The audit, I'm not sure if it's complete yet, but if it's not complete, it's going to be completed in the next few days,” revealed Wood.
“We need to fix any of the issues that come from the audit. As far as I know, these are relatively small issues – nothing huge. And then after that, it's really just up to the governance of Polkadot. I can't flick the switch myself, but what I'm able to do is say, technologically speaking, parachains are ready and it's up to the governance of Polkadot to get them out there.”
How Tezos And AmplifyX Bring A Pop-Up NFT Music Gallery To Downtown Detroit
Detroit is an iconic city in the United States, although one that has gotten a mixed reputation over the years. Bringing some positive attention to this part of the US, with the help of NFT technology, can change the overall narrative for the better. Detroit Culture Club is an intriguing venture taking place at the Nico Tamer Art Gallery.
Also known as the "Motor City", Detroit has always been a crucial city in the history of the United States; although it too has fallen on hard times, the momentum is turning around in recent years. Several initiatives are underway to restore Detroit - and mainly, the downtown area - to its former glory again. Today, many see the city as a hip region that can attract many creative people who want to start building their legacy.
One such effort to keep an eye on is Detroit Culture Club: A Pop-Up NFT Music Gallery. As the name confirms, it is a music-oriented event made possible with the help of the Nicole Tamer Art Gallery. Spearheading this effort is AmplifyX, an NFT music marketplace built on the Tezos blockchain. NFTs, or non-fungible tokens, provide a new technology standard capable of transforming any artistic industry. Combining the technology with music to represent artists from Detroit's music industry creates an exciting opportunity.
The Nicole Tamer Art Gallery, located in the David Whitney Building, will house the Detroit Culture Club pop-up NFT music gallery. The public can experience this new technology showcasing local artists on Wednesday, September 29, from 6:00 PM to 9:00 PM. Featured artists include Rocky Badd, Tiny Jag, Cadillac Music, Botez, Mattie Armstrong, etc. Registration is required for the event, which you can acquire through this link.
The NFT technology showcased by AmplifyX provides access to unreleased songs, audiovisual works, and exclusive experiences. Moreover, the cultural marketplace ensures artists get paid correctly, and fans can acquire a piece of history. All Detroit Culture Club attendees can purchase NFTs via credit card payments. Moreover, the evening will be filled with live music, art, wine, and more. Every attendee will receive a free non-fungible token to commemorate this historic moment for the city of Detroit.
AmplifyX built its marketplace on the Tezos blockchain as it is the most environmentally friendly solution. Tezos' Proof-of-Stake blockchain is long-term sustainable and has little to no carbon emission. Moreover, it lets developers build robust applications. Tezos has attracted brands such as Ubisoft, McLaren Racing, Red BulL Racing Honda, Interpop, etc. It is one of the fastest-growing blockchain ecosystems that checks the right boxes for environment-conscious artists and developers.
Detroit is an iconic city in the United States, although one that has gotten a mixed reputation over the years. Bringing some positive attention to this part of the US, with the help of NFT technology, can change the overall narrative for the better. Detroit Culture Club is an intriguing venture taking place at the Nico Tamer Art Gallery.
Also known as the "Motor City", Detroit has always been a crucial city in the history of the United States; although it too has fallen on hard times, the momentum is turning around in recent years. Several initiatives are underway to restore Detroit - and mainly, the downtown area - to its former glory again. Today, many see the city as a hip region that can attract many creative people who want to start building their legacy.
One such effort to keep an eye on is Detroit Culture Club: A Pop-Up NFT Music Gallery. As the name confirms, it is a music-oriented event made possible with the help of the Nicole Tamer Art Gallery. Spearheading this effort is AmplifyX, an NFT music marketplace built on the Tezos blockchain. NFTs, or non-fungible tokens, provide a new technology standard capable of transforming any artistic industry. Combining the technology with music to represent artists from Detroit's music industry creates an exciting opportunity.
The Nicole Tamer Art Gallery, located in the David Whitney Building, will house the Detroit Culture Club pop-up NFT music gallery. The public can experience this new technology showcasing local artists on Wednesday, September 29, from 6:00 PM to 9:00 PM. Featured artists include Rocky Badd, Tiny Jag, Cadillac Music, Botez, Mattie Armstrong, etc. Registration is required for the event, which you can acquire through this link.
The NFT technology showcased by AmplifyX provides access to unreleased songs, audiovisual works, and exclusive experiences. Moreover, the cultural marketplace ensures artists get paid correctly, and fans can acquire a piece of history. All Detroit Culture Club attendees can purchase NFTs via credit card payments. Moreover, the evening will be filled with live music, art, wine, and more. Every attendee will receive a free non-fungible token to commemorate this historic moment for the city of Detroit.
AmplifyX built its marketplace on the Tezos blockchain as it is the most environmentally friendly solution. Tezos' Proof-of-Stake blockchain is long-term sustainable and has little to no carbon emission. Moreover, it lets developers build robust applications. Tezos has attracted brands such as Ubisoft, McLaren Racing, Red BulL Racing Honda, Interpop, etc. It is one of the fastest-growing blockchain ecosystems that checks the right boxes for environment-conscious artists and developers.
CoinTickr: Real-Time Crypto Ticker Powered by CoinStats 📺
20,000+ coins and 300 exchanges real-time tracking. Live price alerts. Free CoinStats Pro or Premium Membership.
The CoinTickr strikes the perfect balance between minimalism and enhanced functionality. Every data point of CoinTickr is powered directly by CoinStats’ live database of 20,000+ coins and 300+ exchanges. Users can easily set up to 5 alerts based on their preferred price points. The screen will flash, and the alarm will go off, letting you know that it’s time to react.
Every CoinTickr is tested waterproof (IP67) and ensures long-range Wi-Fi connectivity. It houses an energy-saving OLED screen that has lower power consumption, no backlit, true black background, anti-glare, and zero latency response time. Even the most negligible deflections will be displayed on CoinTickr’s 1,3-inch screen. The up to 10 hours of rechargeable batteries make sure users will never miss out on the opportunity.
Each CoinTickr is designed to be a dedicated device for single crypto. However, with the magnets on both sides, users can go further and create a combination of several CoinTickrs to provide price fluctuations for multiple cryptocurrencies simultaneously.
CoinTickr is available on Kickstarter. Get yours with a super early bird discount only today: Link 👉 bit.ly/3kUsNqk
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The CoinTickr strikes the perfect balance between minimalism and enhanced functionality. Every data point of CoinTickr is powered directly by CoinStats’ live database of 20,000+ coins and 300+ exchanges. Users can easily set up to 5 alerts based on their preferred price points. The screen will flash, and the alarm will go off, letting you know that it’s time to react.
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Crypto Miners To Blame For Kazakhstan Power Crisis?
Kazakhstan has become a magnet for crypto miners since the Chinese crackdown on cryptocurrencies, and crypto miners began. Miners have been attracted to the central Asian country thanks to its low electricity charges.
However, with miners swarming to the country, the country is facing a power crisis, with the government blaming crypto miners for the ongoing crisis.
Kazakhstan has seen a surge of over 7% in demand for electricity, thanks to the influx of cryptocurrency miners. At the same time, the country is planning to boost its power capacity over the next few years. However, in the short term, the country has seen a surge of 7% when compared to the power consumption over the previous year.
The spike has been attributed to a growth in the number of data centers set up for cryptocurrency miners. Kazakhstan’s energy minister Magzum Mirzagaliev, while speaking to the local media, referred to the increase in demand stated,
“This is a very big increase...We need to make a number of decisions. First, we must be able to ensure that system operators have the right to limit or reduce the consumption primarily of mining data centers at a time when there may be a shortage of electricity.”
The energy minister was quoted by Kazakhstan Today, which stated in its report that cryptocurrency miners are currently not having a significant positive impact on socio-economic indicators. Mining has been significantly consuming electricity and is competing with the growing needs of Kazakhstan’s economy and its population.
The minister, however, insisted that Kazakhstan needed to develop its crypto mining sector while also expressing complete confidence in the industry to evolve to meet the growing demands of the sector. He also pointed out that there are significant opportunities to develop the crypto mining sector and highlighted the country’s potential when it comes to renewable energy.
However, to address the ongoing deficit, the Ministry of Energy has come up with a slew of proposals to deal with the power shortages caused by miners. The restrictions include putting a limit to the amount of electricity that data centers related to crypto mining in public while also suspending any new data centers or crypto farms from connecting to the country’s electricity grid.
The government has also announced that it would focus on increasing its annual electricity production. The energy minister revealed plans to build power plants and increase capacity by 3000 megawatts over the next five years. The new electric stations will be operating on natural gas, while the country also focuses on creating new power production facilities that will use renewable energy sources. The share of renewable energy in the country’s power grid is projected to reach 6% by 2025 and 15% by 2030.
A Cambridge study has also shown that Kazakhstan has seen a significant increase in its share of Bitcoin, with the cryptocurrency seeing a six-fold increase in less than two years. Kazakhstan is third in the world when it comes to crypto mining volume. The government has also introduced a surcharge for miners utilizing electricity. However, that has not stopped the continuous influx of miners into the country.
Kazakhstan has become a magnet for crypto miners since the Chinese crackdown on cryptocurrencies, and crypto miners began. Miners have been attracted to the central Asian country thanks to its low electricity charges.
However, with miners swarming to the country, the country is facing a power crisis, with the government blaming crypto miners for the ongoing crisis.
Kazakhstan has seen a surge of over 7% in demand for electricity, thanks to the influx of cryptocurrency miners. At the same time, the country is planning to boost its power capacity over the next few years. However, in the short term, the country has seen a surge of 7% when compared to the power consumption over the previous year.
The spike has been attributed to a growth in the number of data centers set up for cryptocurrency miners. Kazakhstan’s energy minister Magzum Mirzagaliev, while speaking to the local media, referred to the increase in demand stated,
“This is a very big increase...We need to make a number of decisions. First, we must be able to ensure that system operators have the right to limit or reduce the consumption primarily of mining data centers at a time when there may be a shortage of electricity.”
The energy minister was quoted by Kazakhstan Today, which stated in its report that cryptocurrency miners are currently not having a significant positive impact on socio-economic indicators. Mining has been significantly consuming electricity and is competing with the growing needs of Kazakhstan’s economy and its population.
The minister, however, insisted that Kazakhstan needed to develop its crypto mining sector while also expressing complete confidence in the industry to evolve to meet the growing demands of the sector. He also pointed out that there are significant opportunities to develop the crypto mining sector and highlighted the country’s potential when it comes to renewable energy.
However, to address the ongoing deficit, the Ministry of Energy has come up with a slew of proposals to deal with the power shortages caused by miners. The restrictions include putting a limit to the amount of electricity that data centers related to crypto mining in public while also suspending any new data centers or crypto farms from connecting to the country’s electricity grid.
The government has also announced that it would focus on increasing its annual electricity production. The energy minister revealed plans to build power plants and increase capacity by 3000 megawatts over the next five years. The new electric stations will be operating on natural gas, while the country also focuses on creating new power production facilities that will use renewable energy sources. The share of renewable energy in the country’s power grid is projected to reach 6% by 2025 and 15% by 2030.
A Cambridge study has also shown that Kazakhstan has seen a significant increase in its share of Bitcoin, with the cryptocurrency seeing a six-fold increase in less than two years. Kazakhstan is third in the world when it comes to crypto mining volume. The government has also introduced a surcharge for miners utilizing electricity. However, that has not stopped the continuous influx of miners into the country.
A cool opportunity to get a token at a price of $ 0.1 before entering the exchange!
❗️ Right now, IDO is taking place on the Zelwin.Finance site of the iCW token - iCryptoWorld.
iCryptoWorld is already a successful company in the global digital technology market. It has been operating since 2017 and provides services for renting equipment for turnkey cryptocurrency mining and cloud mining.
Participating in IDO is easy:
Visit app.zelwin.finance/ido
Add any number of ZLW tokens to the iCryptoWorld betting package.
Connect your wallet on the IDO page and register to participate.
If you become the winner of the drawing, you will have the opportunity to redeem the project tokens, if you do not win, you will still have ZLW tokens that can be sold or left as an investment.
Learn more at app.zelwin.finance/ido
If you have questions or a promising project for IDO - write @zelwinchat. The first Zelwin.Finance project was AMC Fight Nights - × 14 ATH.
Go ahead!
❗️ Right now, IDO is taking place on the Zelwin.Finance site of the iCW token - iCryptoWorld.
iCryptoWorld is already a successful company in the global digital technology market. It has been operating since 2017 and provides services for renting equipment for turnkey cryptocurrency mining and cloud mining.
Participating in IDO is easy:
Visit app.zelwin.finance/ido
Add any number of ZLW tokens to the iCryptoWorld betting package.
Connect your wallet on the IDO page and register to participate.
If you become the winner of the drawing, you will have the opportunity to redeem the project tokens, if you do not win, you will still have ZLW tokens that can be sold or left as an investment.
Learn more at app.zelwin.finance/ido
If you have questions or a promising project for IDO - write @zelwinchat. The first Zelwin.Finance project was AMC Fight Nights - × 14 ATH.
Go ahead!
Bank Of America Gives Its Altcoin Picks
Bank of America recently published a report on cryptocurrencies which stated that the cryptocurrency sector is too large to ignore. As well as stressing the importance of Bitcoin, the report gave its views on a number of altcoins within the cryptocurrency asset class.
It only seems yesterday when such an august institution as Bank of America would have turned up its nose in horror at the thought of having anything to do with Bitcoin, let alone altcoins. But here we are – the tables have turned, and the traditional finance sector is queueing up to get a piece of the action.
Business Insider published an article on the report earlier today. It quoted Alkesh Shah, the author of the report, and head of BOA’s crypto and digital assets strategy, who stated:
"We believe crypto-based digital assets could form an entirely new asset class. Bitcoin is important, with a market value of around $900 billion, but the digital asset ecosystem is so much more."
Quite an enlightened view from an institution steeped in traditional finance. Many in the traditional finance sector are finally starting to see the potential in Bitcoin, and some are even discovering Ethereum and one or two of the other larger altcoins.
However, this report goes long on altcoins. The report focuses on altcoins as those outside of the top 15 by marketcap and which aren’t stablecoins. It also guaged its list by the technical applications of the coins, and by the amount of developers who were building on their platforms.
It could be said that some of the altcoins were fairly conservative if you were someone looking in at the altcoin market without a few years of experience. For example, EOS, Ethereum Classic, NEO and TRON were on the list – all having their own particular issues, and arguably superseded by superior competition.
That being said, there were some newer altcoins with very interesting tech on the list. These included: The Graph, NEAR Protocol, Fantom, and Internet Computer.
One altcoin on the list that may be raising a few eyebrows is Monero. This is a “privacy” coin which is under a lot of scrutiny from regulators, due to concerns that it can bypass money laundering and KYC requirements.
It’s obviously going to be very easy to critique altcoins, no matter who is extolling their virtues. However, it must be said that for Bank of America to publish such a list in the first place is remarkably refreshing, when many of its banking peers are still firmly entrenched in their beliefs that the earth is flat. Tongue in cheek, but you catch the drift...
Bank of America recently published a report on cryptocurrencies which stated that the cryptocurrency sector is too large to ignore. As well as stressing the importance of Bitcoin, the report gave its views on a number of altcoins within the cryptocurrency asset class.
It only seems yesterday when such an august institution as Bank of America would have turned up its nose in horror at the thought of having anything to do with Bitcoin, let alone altcoins. But here we are – the tables have turned, and the traditional finance sector is queueing up to get a piece of the action.
Business Insider published an article on the report earlier today. It quoted Alkesh Shah, the author of the report, and head of BOA’s crypto and digital assets strategy, who stated:
"We believe crypto-based digital assets could form an entirely new asset class. Bitcoin is important, with a market value of around $900 billion, but the digital asset ecosystem is so much more."
Quite an enlightened view from an institution steeped in traditional finance. Many in the traditional finance sector are finally starting to see the potential in Bitcoin, and some are even discovering Ethereum and one or two of the other larger altcoins.
However, this report goes long on altcoins. The report focuses on altcoins as those outside of the top 15 by marketcap and which aren’t stablecoins. It also guaged its list by the technical applications of the coins, and by the amount of developers who were building on their platforms.
It could be said that some of the altcoins were fairly conservative if you were someone looking in at the altcoin market without a few years of experience. For example, EOS, Ethereum Classic, NEO and TRON were on the list – all having their own particular issues, and arguably superseded by superior competition.
That being said, there were some newer altcoins with very interesting tech on the list. These included: The Graph, NEAR Protocol, Fantom, and Internet Computer.
One altcoin on the list that may be raising a few eyebrows is Monero. This is a “privacy” coin which is under a lot of scrutiny from regulators, due to concerns that it can bypass money laundering and KYC requirements.
It’s obviously going to be very easy to critique altcoins, no matter who is extolling their virtues. However, it must be said that for Bank of America to publish such a list in the first place is remarkably refreshing, when many of its banking peers are still firmly entrenched in their beliefs that the earth is flat. Tongue in cheek, but you catch the drift...