Crypto

Turkish Chinese Business Matching Center is the exclusive operator for both portals China’s Blockchain-based Service Network or BSN has announced that it will be launching two new international BSN portals in Turkey and Uzbekistan by the end of 2021. While the country’s ongoing crackdown on crypto mining and other digital asset projects continues, the Chinese government has been leveraging the underlying blockchain technology by expanding the global reach of state-backed blockchain infrastructure project BSN. The new portals will be set up as part of an agreement between Red Date Technology, the architect behind BSN and the Turkish Chinese Business Matching Center (TUCEM), a consultancy firm that is focused on improving economic cooperation between the countries. TUCEM will be the exclusiv...

China’s latest ban on cryptocurrency activities is forcing companies to leave the country, and Bitmain is the next one to take such actions Bitmain, the world’s number one manufacturer of Bitcoin mining machines, has revealed that it will no longer ship its miners to mainland China. This latest development comes following the ban on cryptocurrency service providers and activities in China. The company announced the changes yesterday via its official WeChat account, stating that it intends to follow local regulations. As a result, the Chinese-based company said it will suspend domestic delivery starting today. However, it will still be delivering its mining machines to cryptocurrency miners in other parts of the world. Earlier reports suggest that Bitmain is also looking to move its operati...

The value settled on the Bitcoin network has been surging recently, reaching a new daily all-time high last week. Bitcoin’s daily settlement value hit an all-time high on Oct. 6, with $31 billion worth of transactions being settled on-chain using the Bitcoin network. The record high marks an increase in the network’s daily settlement volume of approximately 40 times since the beginning of 2020. There was $31 billion of value settled on the bitcoin network in a single day last week. This is an all-time high for a single day of settlement value. The global, decentralized payment system continues to become more dominant. (h/t @kerooke) pic.twitter.com/a6Q2FbPY3C — Pomp (@APompliano) October 10, 2021 According to data from Coin Metrics, daily settlement volume has since pulled back sharply, wi...

U.S. Senator Ted Cruz believes The United States should be using natural gas to mine Bitcoin instead of flaring it. Speaking during the Oct. 8 Texas Blockchain Summit, Senator Cruz asserted that Bitcoin mining can be used to monetize energy created through oil and gas extraction rather than burning it, arguing that there is “enormous opportunity for Bitcoin […] to capture that gas instead of wasting it.” According to a transcription of the talk shared to social media by Coin Metrics founder Nic Carter, Cruz noted that half of the natural gas flared in the country is currently being burned in West Texas. “It’s being wasted because there is no transmission equipment to get that natural gas where it could be used the way natural gas would ordinarily be employed,” he added. “Use that pow...

The Chinese government-backed blockchain project, the Blockchain-based Service Network (BSN), continues expanding its global presence by setting up two new portals in Turkey and Uzbekistan. Red Date Technology, the architect behind the BSN project, has signed an agreement with Turkish consultancy firm, Turkish Chinese Business Matching Center (TUCEM), to launch two international BSN portals in Turkey and Uzbekistan in late December 2021. Established in 2006, TUSEM became a major economic cooperation hub between Turkey and China. The company will be the exclusive operator of the two new BSN portals offering blockchain-as-a-service (BaaS) in Turkey and Uzbekistan. The new portals will allow blockchain developers in Turkey and Uzbekistan to build BaaS applications using the global BSN portal ...

Bitcoin (BTC) is on top form — almost literally — as it heads into a new week less than 15% from all-time highs. A classic cocktail of factors has laid the foundation for a Q4 finale which analysts are now confidently comparing to the bull runs of 2013 and 2017. Decoupling from macro market movements and the U.S. dollar, Bitcoin is once again looking like the gold alternative that investors want — all while altcoins slip away. With “Uptober” still only in its second full week, Cointelegraph takes a look at what might lie in store for BTC price action over the coming days. Altcoins lag ahead of “Bitcoin season” Things are looking rosy as the week begins for Bitcoin traders — last week’s four-month highs are back and beaten. With the exception of a curious anomaly on exchange Bitstamp, which...

Bitcoin (BTC) has continued to trade near the $55,000 level. The sharp rally in Bitcoin has pushed its market dominance from 40.70% on Sep. 12 to about 45% today. This shows that the strong recovery in cryptocurrencies has largely been led by Bitcoin.  This sharp run-up in Bitcoin has pushed the Fear and Greed indicator into the Greed zone. Although this indicator suggests that markets may have run up quickly in a short time, it does not necessarily signal a confirmed short-term top. Crypto market data daily view. Source: Coin360 History suggests that traders who sold their Bitcoin positions on this metric alone could have missed strong gains before the correction set in, as highlighted by Cointelegraph Marke analyst Marcel Pechman. Could bulls extend the up-move and push the price cl...

The gaming industry, which has always been synonymous with fun, has grown massively in recent times, and a lot of money is now being mentioned when gaming comes up. Since the introduction of Web 3.0, there has been immense growth in the industry. At the end of 2019, the global gaming market was reportedly worth $152 billion. This growth has meant that, since the introduction of Web 3.0, there has been a consistent rate at which Web 3.0 games are growing and garnering increased adoption. A lot of money is being made, and this has, in turn, attracted a lot of new developers to the space. Related: Is a new decentralized internet, or Web 3.0, possible? Gaming in the past has always been a one-sided relationship, where only the developers or owners of a game get the financial gains while player...

The regulators are closing in. It’s one thing to unbundle market functions to their parts ― custody, aggregators and Prime Brokerage ― to satisfy institutional compliance departments. It’s another to keep regulators happy. From the Financial Action Task Force pushing forward with its guidance for Travel Rule compliance to the still-evolving European Markets in Crypto-Assets regulatory framework, and the somewhat clumsily-handed U.S. infrastructure bill, the regulators are slowly tightening their noose, and I fear this may be the start of a multi-year staring match ― with the decentralized finance (DeFi) market now firmly in their sights, too. Related: DeFi: Who, what and how to regulate in a borderless, code-governed world? Could digital identity help? Whenever I’ve been asked what Bitcoin...

Fast-food giant McDonald’s China released a set of 188 nonfungible tokens (NFT) on Oct. 8 to celebrate its 31st anniversary in the Chinese market. Branded as “Big Mac Rubik’s Cube,” the NFTs will be distributed among employees and consumers as a part of the giveaway.  The Big Mac Rubik’s Cube NFTs are designed based on the three-dimensional structure of McDonald’s China’s new office headquarters, which was inaugurated along with the launch of the NFTs.  The NFTs are built on the Confluux public blockchain and are created in partnership with Cocafe, a digital asset creation agency, ensuring that “each work is unique, indivisible and can not be tampered with.” .@McDonalds launches #bigmac Rubik’s cube #NFT collectible on #CONFLUX in ultimate exam...

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Olga Kupchevskaya, vice president of research and development for MyEtherWallet. Olga is vice president of research and development for MyEtherWallet. She has a strong passion for learning, which brought her to blockchain technology and led her to complete a master’s in computer science, with research emphasis on blockchain scalability solutions. In her role with MyEtherWallet, she oversees the research, development and production of software products ranging from the Ethereum Blockchain data tools (EthVM) to wallet management.  1 — What kind of consolidation do you expect to see in the cry...