After years of court battles in Chile, a cryptocurrency exchange has managed to open a bank account in Bci, a financial institution that established a protocol to serve these businesses. The first exchange that opened a bank account with the institution was Buda, a local exchange, which satisfied the requirements of the bank in the […]
October has been a bullish month for Dogecoin as the “Dogefather,” Elon Musk, takes over Twitter. Despite trading in the red at press time, the meme coin still holds over 90% gains. There has also been a rise in demand for the asset. This surge comes as many anticipate that DOGE would gain value due to Musk’s purchase of the social media giant. Dogecoin’s price increased from $0.05 on October 23 to $0.11 today, October 30, a gain of 93.%. In addition, the weekly DOGE chart reveals that the price hit a five-month high of $0.14 on October 23. Related Reading: Will Binance Oracle Hamper Chainlink Growth Amid The Bullish Run Simultaneously, the asset has seen a rise in capital invested. Market valuation for the token rose from $9.02 billion a week ago to $15 billion as of press time. It’s worth mentioning that the popular meme coin is still trading at a massive 82.66% loss from its all-time high. Dogecoin Snatches The 8th Spot From Cardano Dogecoin is now the eighth largest cryptocurrency by market capitalization, according to data provided by CoinMarketCap. Cardano previously held this position. Dogecoin overtook Cardano on Saturday night with a current market value of $15,366,657,028. This puts it ahead of Cardano (9) and Solana (10), with respective market caps of $13 and $11 billion. Monday’s rumours that Elon Musk would acquire Twitter’s social media platform boosted the value of the meme token. Doge’s optimism was maintained all week long, thanks to two mainstays. First was the overall crypto market growth this week, which saw the entire market breach the $1 trillion barrier. Beyond that, Elon Musk’s progress toward finalizing the Twitter takeover agreement was a major factor in Doge’s ascent. The billionaire visited Twitter’s headquarters on Wednesday and officially completed the deal on Friday, October 28. This brought an end to the six-month negotiation process. The potential for Dogecoin’s integration with Twitter has boosted its value. Musk previously proposed utilizing DOGE to control Twitter spam and bots and charge users for tweets. Cardano Plans To Integrate Dogecoin On Twitter As A Sidechain Charles Hoskinson intends to incorporate ADA and the famous meme token Dogecoin into Elon Musk’s Twitter. The Cardano creator believes that the social media platform will soon integrate DOGE, as Musk has mentioned on several occasions. This confidence stems from Musk’s recent completion of his $44 billion buyout of Twitter. As Elon Musk becomes Twitter’s new “Chief Twit,” the microblogging platform is about to undergo significant changes. These changes all appear to be beneficial to cryptocurrencies, notably Dogecoin. Related Reading: Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit IOG (previously IOHK) CEO Charles Hoskinson believes there is “a serious potential” that DOGE would “somehow integrate” with Twitter. Hoskinson was asked if he thought Dogecoin would adopt a PoS or PoUW consensus system before its Twitter integration. Instead, he proposed making the dog-themed cryptocurrency a Cardano sidechain. The Cardano developer has shown his willingness to migrate the network at no cost and implement smart contracts. Featured image from Pixabay and chart from TradingView.com
This is a rather fundamental question so I'd love to get some clarity on what I'm misunderstanding. I understand each slot some validator proposes a block, and a committee representing a subset of validators "attests" to the validity of the block. Hence the name "validator" rather than "miner". What I don't get is, how is…
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The Ethereum Layer 2 revolution has begun. We are already seeing transaction fees dropping orders of magnitude, alongside considerable increases in speed. However, roll-ups only address the execution side of the problem, not the data storage. As L2's scale even further, they will be creating enormous amounts of data which could result in hugely expensive…
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I rarely go for serious stuff on here but after a rough weekend I thought it would be worth sharing thoughts and seeing what other people think. We're knee-deep in winter and while there is the odd flicker of positivity, let's be honest it does tend to be a constant train of bad news and…
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What impresses me about ETH, is that it's being used for the majority of decentralized financial transactions. This became clearer to me after minting my free reddit NFT avatar and learning the process of selling it requires gas fees to transfer the NFT. I need a balance of ETH in my wallet at all times…
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submitted by /u/kirtash93 [link] [comments]
Recently, the global leading crypto exchange Binance has created a record using Web 3. In addition, the giant crypto service provider recently unveiled its new decentralized Web 3 oracle network. The shift into Web 3 is skyrocketing gradually. More events, projects, applications, and activities are coming with more innovative additions. In addition, the new belief surrounding Web3 as the next future with greater possibilities fuels its popularity. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits Will Chainlink Continue Leading The Game? This new project from Binance serves as the first major competition to the other oracle services networks. Chainlink (LINK) has been the lead among others of its type. Chainlink’s robust infrastructure has helped it create a strong data feed network. Hence, it could bridge real-world online data and blockchain-based systems. The new Binance Oracle is to operate as a data feed network by creating a link between real-world data and smart contracts on blockchains. This means it will enable smart contracts using real-world inputs and outputs. Binance Oracle Will First Operate On BNB Chain According to its plan for the new oracle project, Binance will first use the services on its BNB Chain. Then, it will enable almost 1,400 DApps and different Web 3 partners to access some existing data sources. Following the unveiling, many projects are taking several actions already. For example, over ten projects on the BNB Chain have integrated smart contracts to flow with Binance’s bird program. Before now, Binance disclosed that the oracle services from the new project are chain-agnostic. But there will be support for more blockchain networks in the future. Gwendolyn Regina, the Investment Director at BNB Chain, spoke concerning the development. The director noted the wave of interest in the new internet through its shift to well-connected smart contracts. Also, it has been essential to use oracles to heighten the knowledge of the smart contract. This will connect it with the current happenings outside the blockchain. So, blockchain activities could quickly respond and adjust to external events with the proper flow. According to director Regina, the new Binance Oracle will provide stable and reliable reports. This will represent complete accuracy and accessibility features. Hence, the oracle will become a significant contributor to Web 3. Operations Of Binance Oracle Binance has placed some distinctive features for its new project. First, the overall performance of Binance Oracle targets a higher level of reliability. The network sources price data from several centralized exchanges (CEXs) and aggregates prices through an intelligent algorithm. Related Reading: Why This Bitcoin Indicator Points To Bullish Double Bottom While providing data feeds, the Binance public key is meant to verify the authenticity of the data multiple times. This will eliminate cases of tampering. Regarding individual data feeds, Binance Oracle depends on Threshold Signature Scheme (TSS). This is reputable in providing a distributed mechanism that removes all failure traces. Featured Image From Pixabay, Charts From Tradingview
