The Ethereum network has made a significant shift from Proof-of-Work to Proof-of-Stake consensus algorithm. This has led to the elimination of Ethereum miners, now replaced by validators who secure the network. Becoming a validator is a simplified process, requiring depositing 32 ETH into the staking contract and running the appropriate software. Validators Queue Up However,
Artificial intelligence (AI) is a topic that has been gaining increasing attention from tech enthusiasts and beyond. In numerous articles, we’ve already had conversations with ChatGPT, one of the most popular AI-based chatbots, on topics ranging from healthcare to finance. This time, we asked ChatGPT for its opinion on a more general topic: how AI
Litecoin, the silver version of Bitcoin, has been gaining momentum in the crypto market, ranking 12th on the global crypto charts. With a surge of 2.47% in the past 24 hours and over 11% increase in the past week, Litecoin is riding on the back of the broader market’s flip to bullish sentiment. Investors are
According to analysts from Glassnode, the activity in Ethereum’s decentralized finance (DeFi) sector has declined during the bear market, and it faces competition from Ethereum’s annual staking reward of 4%. The percentage of gas consumed by DeFi protocols has dropped from 34% in 2020 to 8% to 16% presently, with non-fungible tokens (NFTs) commanding the
After sliding to $1.13 trillion market cap, the crypto market has picked up steam again, hitting the $1.15 trillion threshold with a 0.3% increase. Bitcoin leads this bullish charge with close to 2% in the past week. Ripple’s cross-border remittance in the network has given investors a significant return on their investment, with a rise
The cryptocurrency industry has been transformed by the advancement of artificial intelligence technology. The soaring popularity of AI-based chatbots like ChatGPT and Google Bard has led to the development of a new category of cryptocurrencies centered around the field. Several coins saw exponential growth due to the rising interest in AI. However, there is another
On June 2, Republican House members released a draft bill that aims to establish clear roles for regulators in the cryptocurrency industry. The proposed rules would separate the regulation of cryptocurrencies as securities from the regulation of cryptocurrencies as commodities. The bill is a joint effort between the House Financial Services Committee, chaired by Rep.
On Thursday, OpenAI CTO Mira Murati’s Twitter account was hacked and used to promote a fraudulent crypto token, supposedly backed by the company. The tweet remained online for an hour, gaining 80,000 views before being taken down. The hacker promoted an ‘OPENAI’ token, described as a “groundbreaking token driven by artificial intelligence-based language models.” The
Elon Musk, the CEO of Tesla, has been accused of insider trading by memecoin investors in a court filing on May 31, 2022. The group had previously filed a $258 billion class action lawsuit against Musk and his companies in June 2021, alleging that they caused significant losses for Dogecoin holders. The recent filing claims
Rosbank, one of the leading financial institutions in Russia, is set to become the first major bank in the country to offer cross-border transactions in cryptocurrency. The bank’s collaboration with Russian fintech service B-Crypto will provide customers with a technical solution to participate in these transactions. Rosbank emphasizes that these transactions will comply with the
Arbitrum’s price rose by 9% to an intraday high of $1.25 on June 2, following the U.S. Senate’s decision to raise the debt limit. This increase in value surpassed the overall gains of the crypto market, which rose by 1.5% during the same period. The cryptocurrency’s outperformance occurred alongside unusual buying activity in Andrew Kang’s
Coinbase, a popular cryptocurrency exchange, announced that it will launch Bitcoin and Ethereum futures contracts for institutional investors on June 5. Coinbase will launch these products through its CFTC-regulated Coinbase Derivative Exchange, offering lower fees than other US-regulated derivatives exchanges. The company has collaborated with leading Futures Commission Merchants (FCMs), brokers, and front-end providers to
In today’s connected world, individuals are increasingly looking for the most efficient channels to work from any location and at any time. Although popular freelancing platforms such as Upwork and Fiverr exist, they do not provide digital ownership and charge a high percentage of freelancers’ earnings as fees. Enter DeeLance, a new Web3 freelancing solution
Gemini, the crypto exchange led by the Winklevoss twins, has started the process of acquiring a crypto license to serve customers in the United Arab Emirates (UAE). The move is part of Gemini’s global expansion plans, and the exchange has revealed that it is engaging with stakeholders throughout the region to learn more about local
The Federal Reserve Board has issued a consent order to Silvergate, a crypto-friendly bank, instructing it to wind down its operations. The company was supervised by the Federal Reserve Bank of San Francisco and California’s Department of Financial Protection and Innovation (DFPI). The order states that Silvergate must submit a shutdown plan to supervising agencies
On June 1, a proposal to introduce protocol fees for Uniswap decentralized exchange was voted down, according to the proposal’s official webpage. The outcome of the vote meant that liquidity providers (LPs) could continue earning all revenue from swaps. The proposal failed narrowly, with 45.32% of votes going to the “no fee” camp, and 42.34%
DeeLance is a revolutionary web3 freelancing and remote work metaverse platform that could be the next cryptocurrency to explode. It is a decentralized version of Fiverr and Upwork and is building an innovative, crypto and NFT-powered metaverse that unites freelancers and employers and promises to transform remote working forever, as well as the $761 billion-dollar
Circle has announced the launch of a new native version of its USD Coin (USDC) stablecoin on the Arbitrum network. The existing Ethereum-based token that’s been bridged to Arbitrum will be replaced by the new native token. The official version of USDC will be recognised within the Arbitrum ecosystem and will ultimately replace the currently
On May 31, Binance announced its plan to delist certain privacy coins, including Secret (SCRT), Zcash (ZEC), and Dash (DASH), for users in unspecified jurisdictions on June 26. The exchange stated that the decision was made to comply with local laws and regulations regarding the trading of these coins. Response from Privacy Coin Projects However,
The cryptocurrency market experienced a downturn in May, with Bitcoin (BTC) posting its worst performance since November 2022, dropping 7.37%, and Ethereum (ETH) losing 0.22%. The average loss across the market stands at 5.62% on the last day before the monthly close. However, some outliers posted impressive gains thanks to popular investment narratives and the
Swiss non-profit organization, the Anoma Foundation, has announced that it has successfully raised $25 million in its third funding round. The round was led by influential blockchain-focused venture capital firm CMCC Global, and the funds raised will be used to further develop Anoma’s intent-centric architecture. Support from Leading Industry Figures During the fundraising phase, the
Binance, a popular cryptocurrency exchange, recently announced its decision to withdraw from the Canadian market. Changpeng Zhao, the CEO of Binance (also known as CZ), explained that the regulatory requirements in Canada made it unfeasible to continue operating in the country. The exchange cited new regulatory guidance on stablecoins and investor limits as the reasons
Non-fungible tokens (NFTs) have taken the art world by storm, with two-dimensional artworks like images, music, and videos dominating the scene. However, the rise of immersive technologies like augmented reality (AR) and virtual reality (VR) has opened up a whole new world of possibilities for NFTs. Immersive NFTs bring a new level of interaction and
Binance, the world’s largest cryptocurrency exchange, has confirmed that it is “reevaluating” its talent base following reports of layoffs. This comes as a stark contrast to the company’s position of strength last year when it continued to expand during the bear market. Reports of Layoffs Reports of layoffs at Binance first emerged on Wednesday when
A federal court has ruled that the Internal Revenue Service (IRS) has the legal authority to access Coinbase users’ trading data via a “John Doe” summons, and doing so is not a violation of constitutional rights. The court made the ruling in a case filed by James Harper against the IRS in 2020. Harper had
Ben.eth, a previously little-known personality in the cryptocurrency community, has come under the spotlight following the launch of at least three memecoins in recent weeks. Ben.eth has seen his Twitter following grow nearly five-fold in May, and pre-sales of these memecoins, which require Ether (ETH) to be sent directly to the creator himself, have allowed
Nvidia, a leading technology company, has unveiled its latest innovation in the gaming industry – the NVIDIA Avatar Cloud Engine (ACE) for Games. This suite of real-time AI solutions harnesses the power of AI to transform the gaming experience, offering a glimpse into the future of lifelike game worlds and interactive non-player characters (NPCs). During