Vitalik has defined Ethereum as a general purpose blochchain. My understanding is that a blockchain is basically a distributed database. Based on this my question is: what does it mean that apps are built on top of Ethereum if it is a database? How can apps run on top of Ethereum if it is a…
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Twitter ex-CEO Jack Dorsey has admittedly never been a fan of Ethereum and has been quite open about his stance on the cryptocurrency. Dorsey has always been a Bitcoin maximalist through and through, showing support for the pioneer cryptocurrency at every turn. Even going as far as stepping down as Twitter CEO to focus more on Block, a venture which focuses solely on building with bitcoin. Despite being vocal about not being a supporter of ethereum, Dorsey does get asked a fair bit what he thinks about the asset and the blockchain as a whole. It’s one of these instances that led Dorsey to once again show that he does not support the digital asset. Related Reading | Bitcoin Leads As Markets Sees Record Outflows. Bear Market Incoming? Dorsey Does Not Support Ethereum With Dorsey focusing all of his energy on building with bitcoin, others have brought up the possibility of the Block CEO integrating other blockchains into his work. A Twitter user by the name of cdixon once again posed the possibility of the CEO to work with ethereum and other blockchains, stating that there were other applications of cryptocurrencies that would require other chains. Dorsey had responded to the tweet with a clear and concise tweet. The tweet, once again, leaned greatly towards support for bitcoin as the CEO explained that only secure and resilient technologies should be used, alluding to the centralized nature of the ethereum blockchain. “I believe in you and your ability to understand systems. It’s critical we focus our energy on truly secure and resilient technologies owned by the mass of people, not individuals or institutions. Only that foundation will provide for the applications you allude to.” ETH price falls below $4,000 | Source: ETHUSD on TradingView.com Coming For Web3 Dorsey’s tirade against centralized systems did not end with the ethereum blockchain. Web3, the new baby of the innovative technology space, also drew criticism from the CEO. He tweeted saying that users did not actually own web3. Instead, that it belonged to the VCs and the LPs who are currently investing heavily in the space. Alluding to the fact that the incentives of these VCs and LPs will always impact it. https://twitter.com/jack/status/1473139010197508098?s=20 Related Reading | Ethereum Exchange Withdrawals Reaches One-Year Low. Why This Matters The tweet itself had drawn criticism from those involved in the web3 space who poured out to counter the views of the CEO. Dorsey went on to further mock the technology alongside SpaceX CEO Elon Musk. Joining the discussion, Musk had tweeted saying, “Has anyone seen web3? I can’t find it.” To which Dorsey had mockingly replied that “It’s somewhere between a and z.” Featured image from Ripples Nigeria, chart from TradingView.com
I need someone who is more versed than I am. I need a contract made that will send the balance of one wallet to a different one. Will pay. submitted by /u/logan_62699 [link] [comments]
I've bought 50 DAI on the palm.io network for the Nifty's Matrix NFT campaign, but I was not able to use them, because the buying queue was too high and all the NFTs were sold out. Now I have 50 DAI on the palm.io network, that I can't use. How can I sell them or…
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For all those who don't know, blue chip is considered a financially stable company, in this case we are talking about cryptocurrencies where blue chip is considered to be every coin that has a market capital of over $ 2 billion. Is that true in practice? I wouldn’t say, and before the coins had over…
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Data shows while the Bitcoin supply present on exchanges has been trending down, growth in other investment vehicles like ETFs and WBTC has been making up for this drop. Bitcoin Exchange Reserves Decline, But ETF And Other Instruments Enjoy Growth As per the latest report from Arcane Research, BTC exchange reserves have seen significant decline this year, but the growth in newer investment instruments like ETFs has made up for it. The “exchange reserve” is an indicator that measures the total amount of Bitcoin currently stored in wallets of all exchanges. Traditionally, this supply on exchanges has been considered the available trading supply of the coin. So, when the indicator’s value moves up, it’s taken as a bearish sign for the coin’s price. On the other hand, a decrease may imply bullish trend. The trend with the exchange reserve has been that of constant decline since half a year now. Because of this “supply shortage”, many traders believe in a bullish outcome for Bitcoin in the long term. Related Reading | Bitcoin Bullish Signal: Open Interest Shows Strong Trend Up However, the report seems to suggest a different story. Here is some data that shows the percentage of the circulating BTC supply in different segments: Looks like most sectors have seen growth in the past year | Source: The Arcane Research Weekly Update – Week 50 As you can see in the above graph, while the exchange supply has gone down, growth in other segments seems to more than make up for this decline. Related Reading | Despite Crackdown, Bitcoin Mining Is Still Alive And Well In China The exchange traded investment vehicles now hold 0.69% more supply than last year. This shows that there is increasing demand for trading Bitcoin through the familiar means (like ETFs). This trend may also indicate rising adoption from institutional investors. With a 0.98% increase this year, BTC on the Ethereum network now accounts for 1.73% of the total circulating supply. The report notes that both these sectors are important factors for Bitcoin’s price discovery, and so growth here may not support the popular idea that a supply shock is brewing in the crypto due to declining exchange reserves. By the way, corporate treasuries now hold 0.91% of the circulating BTC supply. Microstrategy has been the main push behind this growth. BTC Price At the time of writing, Bitcoin’s price floats around $48.8k, up 1.5% in the last seven days. Over the past month, the crypto has lost 16% in value. Below is a chart that shows the trend in the price of the crypto over the last five days. BTC’s price seems to have surged up in the past couple of days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
The popularity of cryptocurrencies in economically embattled Turkey has continued to surge with the number of daily trades now surpassing one million, a report has said. This surge in trades has been attributed to the depreciating lira which plunged to a new low against the USD on December 20. Lira Plunges Cryptocurrency trades in inflation-stricken […]
