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In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.” Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside […]
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Cardano’s developer IOHK has now confirmed smart contracts capability is set to launch on the network on September 12th. The long-awaited upgrade to the Cardano Mainnet will see the addition of smart contracts capability to the network, which would open the door to both developers and investors alike on the network. The launch is scheduled for Sunday, only four days away. LAUNCH CONFIRMED: Today, around 17:26 UTC we successfully submitted an update proposal to the #Cardano mainnet, to trigger a hard fork combinator event on Sunday 💪🙌 #Cardano $ADA 1/6 pic.twitter.com/rEtjrdGiBV — Input Output (@InputOutputHK) September 7, 2021 Related Reading | Analyst Lays Out Theory That Suggests A 290% Move In Cardano (ADA) Before Rally Is Over Taking to Twitter, the developer shared with the wider community that they had successfully submitted an upgrade proposal to the Cardano Mainnet. This would trigger the hard fork combinator (HFC) event that would take place on Sunday. “The Alonzo HFC event will be the most significant upgrade yet, laying the firmest of foundations for an exciting new era of smart contracts on Cardano,” said the developer. Using the HFC technology will enable the deployment of smart contracts capability with the core Plutus, which will come will all compatibility upgrades across the entire software stack. Testing has already been underway for the smart contracts capability with trusted testers from previous upgrade iterations. So far, the smart contracts are processing transactions accordingly and developers have taken to building their DApps on the platform. Gearing Up To Compete The final deployment will see Cardano competing with other networks successfully operating in the space. Going up against well-known smart contracts platforms like Ethereum, and a new contender that has taken the market by storm, Solana. Alonzo Hard Fork will bring decentralized finance (DeFi) and decentralized exchanges (DEX) to the ecosystem, as well as capabilities like being able to mint NFTs on the Cardano blockchain. Effectively expanding the scope of use cases of the network. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The network ran into some problems earlier when rumors started making the rounds on social media that the smart contracts could only handle one transaction at a time. But this was soon after cleared up by the developers, who showed that the problem was not with the network, but rather with the DApp Minswap. IOHK further encouraged developers to keep testing on the network, adding that “this is what a testnet is for.” Cardano (ADA) Price Reaction Cardano, like the rest of the market, is still reeling from the flash crash which it experienced yesterday. Although it has recovered from the lows of the flash crash, the digital asset continues to struggle to find footing back to positions before the crash. The announcement from Cardano’s developer did not do much to push the price upwards, which has left the asset trading around the $2.3 range. Putting it back down below highs from May. ADA price struggles as market reels from crash | Source: ADAUSD on TradingView.com At the time of writing, the asset is trading at $2.38, down more than 9% in the last 24 hours. The crash in its value has brought the total market cap of the asset down to $76 billion. Although remaining the third-largest cryptocurrency by market cap. Featured image from Ethereum World News, chart from TradingView.com
There have been constant questions about what would happen to Rollups once ETH2.0 is fully complete including sharding. Vitalik responds here: https://ethresear.ch/t/cross-rollup-nft-wrapper-and-migration-ideas/10507/8 "It will not become useless for a long time. The current proposed implementation of sharding is just data sharding, meaning that you would not be able to have txs “directly” on the shards;…
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The DYDX governance token becomes the latest airdrop to surpass $100,000 for the most active users, and the DEX’s transaction volumes highlight the rising popularity of layer-2 platforms.
The new Bitfinex STO trading platform is now ready to operate in Kazakhstan. It will allow investors access the tokenized securities and blockchain-based equities. Popular Bitfinex cryptocurrency exchange has announced its plans to launch a trading platform that focuses on STOs (Security Token Offerings). Bitfinex recently announced that they scheduled the new platform to operate in compliance with Kazakhstan financial laws. This is in line with the provision of (AFSA) Astana Financial Services Authority. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The Security Token Offerings exchange is also known as Bitfinex Securities Ltd. Its launch is seen as one of the company’s efforts in supporting the growth of the world’s financial industry. Securities Features And Offerings of Bitfinex Bitfinex Securities is to run a 24/7 operation similar to others in the digital market. The company deployed technologies that will boost efficiency, reduce transaction costs and enhance the success rate on the platform. Investors will have the opportunity of accessing an International Security trading market via the STO platform. Interested investors will also have the opportunity of diversifying their portfolios. In addition, the STO will provide them access to varieties of financial products like bonds and equities. Issuers of the Security tokens take advantage of the platform when they raise capital through the tokenized security offerings. The information was according to an announcement, and the idea was to raise capital. The Bitfinex Chief Technology Officer stated that the STO exchange seeks to offer a positive contribution. It will assist the trading platform in becoming the best of its kind in the world. Paolo Ardoino added that Bitfinex Securities Ltd offers a new regulated platform that serves medium-cap and small companies. It targets the ones that are currently underserved by already existing capital markets that are inefficient. Restricted Countries Kazakhstan will regulate the exchange. It will allow global investors to trade different tokenized securities publicly. However, investors in Canada, Switzerland, Australia, the British Virgin Islands, the United States, Italy, and Venezuela have restrictions. According to the legal statement from Bitfinex, they are not allowed to utilize the platform. Related Reading | Survey Shows 25% Of US Teens Prefer Cryptocurrency Investment More so, other countries under the embargo of Iran, Kazakhstan, the United States, and Cuba, etc., are also restricted access. Rising Demand For Tokenized Securities A security token is an investment contract representing real-life assets such as digital artwork and real estate. The popularity of this asset class is increasing among investors, with various crypto-related firms joining the market. These firms offer different tokenized securities. Traditional financial institutions have noticed the increasing demand for these securities. As a result, they have started issuing their security tokens like other crypto-related companies. Featured Image From Pixabay
