Crypto
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CEX vs DEX tokens, which ones to get and why
Both CEX and DEX tokens have found their place within the crypto sphere. Each type of cryptocurrency plays a role in the overall development, progression, and value of its ecosystem. We are going to go over why BNB, CRO, UNI, and CAKE are some of the best CEX and DEX tokens you can get. There’s a centralized exchange (CEX), and then there’s a decentralized exchange (DEX). A centralized exchange typically has its own order book, and each order is recorded and validated. CEXs operate under regulatory supervision and have know-your-customer policies built in. A decentralized exchange offers core functionalities found in a CEX, such as order books or automated market maker (AMM) models, a trading venue, a matching system, and security functions. However, in all DEXs, ea...
Pride in the Metaverse: Blockchain tech creates new opportunities for LGBTQ+ people
A number of social gatherings have started to take place in the Metaverse as companies across the globe begin to understand the value that virtual interactive environments can have for consumers. It shouldn’t come as a surprise then that Pride Month — a month-long celebration held in June to commemorate the 1969 Stonewall Riots — will be celebrated in various metaverse environments this year. Pride in the Metaverse creates open access Akbar Hamid, co-founder of People of Crypto Lab (POC) — an innovation hub dedicated to increasing diversity and representation in Web3 — told Cointelegraph that the Metaverse is an incredible way to allow people around the world to partake in events they may not be allowed to participate in otherwise. “We want Pride Month 2022 to be an event anyone can ...
Major crypto firms reportedly cut up to 10% of staff amid bear market
Gemini, a cryptocurrency trading platform founded by brothers Cameron and Tyler Winklevoss, is the latest industry firm to lay off a significant part of its staff due to unfavorable market conditions. Winklevoss’ crypto business Gemini Trust reportedly cut 10% of its employees amid the ongoing bear crypto market, the founders wrote in a notice to employees on June 2, as Bloomberg reported. As part of its first major headcount cut, Gemini will refocus on products that are “critical” to the firm’s mission, the brothers said, adding that “turbulent market conditions” are “likely to persist for some time.” The notice reportedly reads: “This is where we are now, in the contraction phase that is settling into a period of stasis — what our industry refers to as “crypto winter. […] Thi...
These are the least ‘stable’ stablecoins not named TerraUSD
The recent collapse of the once third-largest stablecoin, TerraUSD (UST), has raised questions about other fiat-pegged tokens and their ability to maintain their pegs. Stablecoins’ stability in question Stablecoin firms claim that each of their issued tokens is backed by real-world and/or crypto assets, so they behave as a vital component in the crypto market, providing traders with an alternative in which to park their cash between placing bets on volatile coins. They include stablecoins that are supposedly 100% backed by cash or cash equivalents (bank deposits, Treasury bills, commercial paper, etc.), such as Tether (USDT) and Circle USD (USDC). At the other end of the spectrum are algorithmic stablecoins. They are not necessarily backed by real assets but depend on financial engin...
Balancer launches on Ethereum L2 network Optimism
Automated market maker and decentralized finance (DeFi) protocol Balancer has officially deployed on Optimism, the highly touted Ethereum layer-2 scaling solution, in a move designed to enhance user functionality by increasing scalability and reducing fees. Balancer’s Optimism deployment was carried out in conjunction with Beethoven X, a decentralized investment platform on the Fantom Network that forked from Balancer v2. Together, both teams are said to have developed a decentralized exchange that is set to compete in the Optimism ecosystem. Balancer Labs CEO Fernando Martinelli said his project’s Optimism deployment reflects the belief that layer-2 scaling solutions will be effective in reducing transaction fees and network congestion. Optimism is a layer-2 scaling solu...
Sharknado Co-Creator and Snowpiercer Producer Launch New Token $FLIX to Revolutionize Indie Film
Los Angeles, United States, 1st June, 2022, Chainwire Veteran Hollywood filmmakers Ben Rosenblatt and Micho Rutare launch $FLIX, a novel crypto-token, in order to reinvent how independent films are financed, produced, and distributed. Their company American Meme will leverage $FLIX to raise capital for a slate of indie films that appeal to both film and crypto enthusiasts. A fee on each transaction goes directly to a “film wallet,” and the team has committed to investing 75% of film wallet funds in production and only 25% in marketing and publicity. Profits from film sales, distribution, and licensing will be used to buy back $FLIX, which will make the token deflationary, in order for its relative value to continually increase. [embedded content] In addition, token holders will receive exc...
United Nations agency boss sees a great deal of potential in blockchain
The agency head in charge of the United Nations International Computing Center (UNICC) expressed a positive outlook on crypto at the World Economic Forum in Davos Bank of America head claims they are not missing out on cryptocurrencies during the Davos Forum In an interview with CoinTelegraph, Sameer Chauhan, a former mainstream finance executive and the current head of the United Nations International Computing Center since 2018, expressed a pro-crypto view. Explaining how it is just like any other technology, Chauhan claimed that blockchain could be used to bear either positive or negative outcomes. The use of crypto for good presents’ massive opportunities’ The UNICC boss noted how crypto could be used to bridge the digital divide already present as well as promote transparency if well ...
Performance issues set back Ethereum scaler Optimism during token airdrop
Ethereum layer-two scaling solution Optimism faced delayed transactions on OP token launch The network, however, stabilised after more than five hours of continuous work Ethereum layer two scaling solution Optimism has recently been a victim of downgraded performance with increased user activity after launching its anticipated token airdrop. Earlier in April, it came out that the L2 planned to launch an OP governance token, alongside which a new decentralised autonomous organisation (DAO) would be formed – the Optimism Collective. However, the launch didn’t go exactly as planned. “Sup sleuths—as you might have guessed, OP Drop #1 launches today. We have NOT officially announced yet, but we’re already experiencing an all-time high demand. We knew everyone would be excited, but holy cow...
Bitcoin daily mining revenue slumped in May to eleven-month low
Bitcoin (BTC) mining revenue and profitability have continued to slide along with the asset’s price this year as the crypto winter deepens. May has been one of the worst months for Bitcoin miners in the past year as revenue and profitability continue to tank. Bitcoin daily mining revenue tanked as much as 27% in May, according to data from Ycharts sourcing data from Blockchain.com. On May 1, the analytics provider reported daily revenue of $40.57 million for BTC miners, but by the end of the month, it had fallen to $29.37 million. Daily mining revenue hit an eleven-month low of $22.43 million on May 24. BTC daily mining revenue YTD – ycharts.com Daily mining revenue spiked to a peak of around $80 million in April 2021 but has since fallen 62% to current levels. May ended the...
South Korean government becomes an early investor in metaverse
South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects. The decision to invest in the nascent metaverse tech makes South Korea one of the first national governments to do so. The investment came under the ‘Digital New Deal’ program set up to invest in emerging technologies. The program is headed by the country’s science and information and communication technologies ministry led by Lim Hyesook. Hyesook called the metaverse “an uncharted digital continent with indefinite potential,” indicating the government’s interest in taking lead in the metaverse tech. The national fund would be first utilized to build a metropolitan level metaverse pla...
Community fires back at anti-crypto letter sent to US lawmakers
The increase of crypto lobbyists recently sparked an effort from anti-crypto individuals in the tech space to urge regulators through a letter to resist the influence of blockchain advocates. In response, the crypto community criticized the move and laid out counterarguments against the contents of the letter. Signed by 26 tech personalities, the letter sent to United States lawmakers described crypto assets as “risky, flawed, and unproven digital financial instruments.” It expressed disagreements about the potential of blockchain technology and has urged the regulators to create harsher regulations for cryptocurrencies. The crypto community did not stay silent as many reacted and expressed their disagreements with the letter and its contents. Tech lawyer Preston Byrne also gave his ...
Investors’ perception of crypto is changing for the better: Economist survey
A report published by the Economist paints a bright future for cryptocurrency adoption, with survey respondents anticipating growing demand in the near future. Economist Impact published findings of its ‘Digimentality Report’, delving into consumer trust in digital payments and the stumbling blocks that have hampered the digitization of basic monetary functions. The data obtained provide food for thought and perspective, as it compares trends from previous surveys on the subject carried out in 2020 and 2021. Information was gleaned from a consumer survey completed by 3,000 consumers in early 2022, with half of the respondents living in developed economies including the United States, United Kingdom, France, South Korea, Australia and Singapore. The other half were respondents hailing from ...
