Crypto
Wazupnaija – Naija Entertainment blogs & Forums – Business – Crypto
Altcoin Roundup: 3 ways blockchain technology could further mainstream in 2022
2021 was a breakout year for the cryptocurrency sector and this year is expected to see an extension of the “mass adoption” trend. Public awareness of blockchain technology is on the rise and a new cohort of projects designed to fill more niche roles in society are likely to emerge in the coming months. Three sectors that have the potential to see significant growth in 2022 are human resources (HR), employee payment solutions and platforms that serve the gig economy by offering corporate blockchain solutions. HR might pivot toward blockchain Human resource management is ripe for blockchain integration due to the security and data storage solutions offered. Blockchain would allow each employee to have a unique address where all pertinent information could be cryptographically stored. HR als...
Tesla now accepting Dogecoin payments, DOGE price up 18% on the day
Reports of the electric vehicle company introducing support for DOGE payments surfaced earlier this week from an analyst that reviewed Tesla’s source code Texas-based EV maker and eco-friendly energy company Tesla has started accepting payments in the form of Dogecoin. Tesla’s chief executive and product architect Elon Musk, a long-time supporter of the meme coin, shared the news of the same today. The billionaire business magnate has publicly expressed that he prefers Dogecoin to Bitcoin as a payment alternative in the past. Musk, who has since taken up the name Dogefather, posted many tweets around Dogecoin last year, swinging the markets. In addition to Dogecoin, the techpreneur also holds Bitcoin and Ether in his portfolio. Not Tesla’s first rodeo in crypto Tesla anno...
Vitalik Buterin runs polls to determine the preferred crypto outside ETH
The Ethereum community has marked out Cardano’s ADA and Bitcoin as the two best Ethereum alternatives in storing value and enabling transactions In currently running polls, Vitalik Buterin queried his 3.1 million-large Twitter following, which among a listed number of tokens would be the best alternative in a hypothetical future without Ethereum. “Poll for Ethereum community. You wake up in 2035, and 80% of all transactions + savings in the world are in one currency that is not ETH. Which would you prefer it to be?” the tweet read. The first poll, which has Bitcoin (BTC), Cardano (ADA), Solana (SOL) and the US dollar has so far received almost $560,000 responses. Cardano (ADA) is leading, but the margin is tight At the time of writing, Cardano’s native token ADA had...
Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security
A former member of the Tongan Parliament is behind a proposal to make Bitcoin (BTC) legal tender in the tiny Pacific nation of Tonga, following in the footsteps of El Salvador. It’s due for a vote in Parliament in May and the early signs are encouraging. Mataʻiʻulua ʻi Fonuamotu, Lord Fusitu’a told Cointelegraph that plans are in motion to use state-run volcano mining facilities to create wealth in Tonga. Tonga has 21 volcanoes. “That means one volcano for every 5,000 people.” He owns one volcano himself through his family’s hereditary land rights. The proposed Bitcoin mining operations would use the geothermal energy of the volcanoes to generate power. “It takes two megawatts of electricity to service 5,000 people. So 40,000 megawatts will service the entire national grid. Eac...
President Biden taps economists for Fed governors’ seats, Sarah Bloom Raskin as vice chair for supervision
The White House has officially tapped former Fed governor Sarah Bloom Raskin to serve as the vice chair for supervision for the Federal Reserve, as well as economists Lisa Cook and Philip Jefferson to fill two empty seats on its board of governors. In a Friday announcement, U.S. President Joe Biden said he had nominated Cook, an Obama-era economic adviser and Michigan State University faculty member, as well as Jefferson, a former research economist for the Fed, to the board of governors in addition to Raskin. Jefferson and Cook will take two of the vacant seats in the group of seven governors, with Jerome Powell and Lael Brainard nominated to serve as chair and vice-chair, respectively. According to the president, the three nominees have the “experience, judgment and integrity to lead the...
ICON commits $200M to interoperability incentive fund
The ICON Foundation announced plans to launch an interoperability incentive program for 200 million ICX, or approximately $200 million at the time of publication. The foundation supports the development of the ICON network, South Korea’s largest public aggregator chain. The foundation said that it hopes this program will incentivize the ICON community and its partner networks to adopt ICON’s Blockchain Transmission Protocol, or BTP. The incentive program aims to distribute up to 200 million ICX tokens over a period of five years, primarily funded by the ICX reserve allocation raised during the 2017 token sale. ICON intends to attract development teams in other ecosystems to explore BTP’s cross-chain communication opportunities. The majority of the proceeds are planned to go towards de...
Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s
El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele, El Salvador has recognized Bitcoin as legal tender and issued a state-run crypto wallet to facilitate payments, transfers and ownership. Along the way, El Salvador has amassed a treasure chest of 1,391 BTC, with President Bukele famously “buying the dip” on several occasions by using Bitcoin’s volatility to add to his country’s holdings. Buying the dip 150 new coins added.#BitcoinDay ...
China is looking to adopt a crypto-free model in its NFT industry
The Asian country will model its NFT industry around the Blockchain Services Network China is setting boundaries that would define the scope of the booming NFT sector in the country. Despite having previously declared a crackdown on cryptocurrencies (primarily used in NFTs transactions), the Chinese government does not intend to be left out in the new collectibles’ wave. The South China Morning Post reported on Wednesday that the government-supported Blockchain-based Service Network (BSN) will later this month deploy infrastructure to support NFTs. The tech will provide application programming interfaces to businesses and individuals to develop user apps & modules to manage their NFTs. The project, also referred to as the BSN-Distributed Digital Certificate (BSN-DDC), aims t...
Invest in staking tokens through these 4 leading tokens
These tokens are Proof-of-Stake (PoS) tokens that allow you to stake them on the network they are based on. This can potentially give you another passive revenue stream. DOT, MATIC, SOL, and ADA are all tokens that are leaders in terms of market capitalization. Staking cryptocurrency tokens is seen by many investors as a means of putting the tokens to work for gaining additional yield. As such, Polkadot (DOT), Polygon (MATIC), Solana (SOL), and Cardano (ADA) are all solid options, and we are about to show you why. Should you invest in Polkadot (DOT)? On January 14, Polkadot (DOT) had a value of $26.62. To get a better perspective as to exactly what this value point means for the DOT token, we will go over the performance of the token last month and its all-time high value. The all-ti...
Rio de Janeiro will hold 1% of city reserves in Bitcoin, Mayor says
The city mayor plans to convert Rio de Janeiro into Crypto Rio, representing a cryptocurrency hub Rio de Janeiro’s mayor Eduardo Paes, yesterday, shared his proposition to channel a fraction of the treasury funds into crypto at the Rio Innovation Week event. In the company of Miami mayor Francis Suarez, he stated that 1% of the city’s treasury reserves would be allocated into bitcoin. “We are going to launch Crypto Rio and invest 1% of the treasury in cryptocurrency. The government has a role to play,” he said. Paes, a member of the Social Democratic Party, added that the city would create a working group tasked with handling matters related to cryptocurrency. He also mentioned that Rio was well-positioned to become South America’s leading city in te...
Robinhood hits new low as FTX US and Bitstamp USA move into stocks
Crypto exchanges FTX US and Bitstamp USA are working on offering stock trading, which would be a further blow to Robinhood as its share price slumps to new lows. FTX US President Brett Harrison tweeted on Tuesday that the crypto exchange is “hard at work on stocks,” commenting that a launch would be coming in “a couple months.” We’re hard at work on stocks! Features we’re planning for day 1: -Live BBO and historical candles-Stock screening/search functionality-Basic fundamentals (market cap, P/E ratio, dividend yield)-Portfolio performance tracking, order/trade details What else should we have? pic.twitter.com/q2bTpsfuna — Brett Harrison (@Brett_FTXUS) January 11, 2022 This isn’t FTX’s first dalliance with stocks. Back in Oct. 2020, the global arm of the crypto exchange launched a feature ...
Fan Controlled Football raises $40M to expand league with Bored Apes and Gutter Cats
Alternative sports organization Fan Controlled Football (FCF) has raised $40 million in Series A funding from crypto and blockchain gaming firms to support the league’s expansion plans, including four new teams and an NFT project. The FCF was founded in 2017 by Sohrob Farudi, Patrick Dees, Ray Austin and Grant Cohen and hosted its debut season inside a bubble environment in Atlanta amid the pandemic last year. The FCF features an indoor version of American football in a seven vs seven-player format, and the games are streamed live on Twitch. The unique feature of the league is that the teams are governed by their fans, who have voting rights on anything ranging from player acquisitions, in-game plays, branding and team selection. For the upcoming season, NFTs will play a key role in the vo...
