Author: NBTC
Blockchain interactions can be tricky and complex, particularly for beginners. In this article, we will explore chain abstraction, how does it work, some of its advantages and challenges, and general misconceptions about it. What Is Chain Abstraction? Chain abstraction is NEAR’s concept for simplifying how consumers engage with blockchain technology by isolating it from the user experience. The idea is for customers to be unaware of which blockchain they are working with, or even that they are utilizing a blockchain. How Does Chain Abstraction Work? Consider a situation where you can only send text messages from an iPhone to other…
The price of Bitcoin (BTC) rose above the 21- and 50-day SMA resistance levels for the first time on May 15, 2024. Long-term forecast for the Bitcoin price: bearish The rally has broken the 21-day SMA and prevented the bears from defending it. Bitcoin bulls have made two unsuccessful attempts to break above the 21-day SMA resistance. On May 15, Bitcoin rose to a high of $66,500 before retreating and retesting the 50-day SMA support.The largest cryptocurrency is on the verge of rising again after a successful test of the 50-day SMA. On the upside, Bitcoin will try to reclaim…
Gary Gensler – chairman of the US Securities and Exchange Commission (SEC) – sat down with CNBC’s Mad Money host Jim Cramer on Wednesday to discuss the regulator’s Bitcoin and Ethereum ETF approvals, alongside what may be coming next. That included questions about whether obscure meme coins could soon receive their own ETFs, such as SushiSwap (SUSHI) and Bonk (BONK). Cramer named a host of coins to Gensler that had all traded “millions of dollars” on Wednesday morning – including Cardano, Cosmos, Immutable, Ronin, and MyNeighborAlice, among others. “Now in two weeks, should we have a SushiSwap ETF?” asked Cramer.…
Nigeria’s Securities and Exchange Commission (SEC) has given cryptocurrency exchanges and digital assets traders 30 days to re-register their businesses—or risk facing enforcement actions.This announcement is part of Nigeria’s plan to regulate digital assets trading. The SEC said the new registration is aimed at amending its rules on digital assets issuance, offering platforms, exchanges, and custody in regards to virtual asset service providers (VASPs). “All operating and prospective VASPs are hereby directed to visit the SEC ePortal to complete the application process no later than 30 days from the date of this circular,” the commission said in a statement on…
TON Boost, the fastest and most lucrative cloud mining app on Telegram, has announced a strategic partnership with XSTAR. XSTAR is known for its Omnichain Identity Protocol for Proof of Humanity. It features an Adaptive Humanity Scoring system to authenticate individuals. In addition to this, this system enhances security and trust by ensuring that users are genuine. TON Boost Adopts XSTAR’s Identity Verification Solution New security features are expected to be offered by the integration of TON Boost with XSTAR and improve user experience in the platform. By integrating the upgraded identity technology provided by XSTAR, TON Boost will provide…
Today, the Proof of Workforce Foundation, a 501(c)(4) tax-exempt nonprofit organization, has announced the addition of two distinguished members to its Board of Directors: Ajit Singh and Raphael Zagury, according to a press release sent to Bitcoin Magazine. This duo is being brought on to further strengthen the Foundation’s mission to promote meaningful, education-based Bitcoin adoption among workforce organizations. Ajit Singh joins the board from his current role as Chief Investment Officer of the Houston Firefighters Relief and Retirement Fund, a $5.1 billion pension fund and the first in the U.S. to add Bitcoin directly to its balance sheet in…
The fee for VanEck’s proposed spot Ethereum ETF will be waived after launch until 2025 or when the fund’s assets under management (AUM) reach $1.5 billion mark—whichever comes first—according to an amended SEC Form S-1 filing. When either of the aforementioned stipulations is fulfilled, the global asset manager will levy a 0.2% fee. Across its currently trading funds, which includes the VanEck Bitcoin Trust, the firm currently has $102 billion assets under its management. VanEck is not the only asset manager trying to lure investors into the queue for its Ethereum ETF. Franklin Templeton announced that it would forgo its…
The BNB cryptocurrency has reached a new all-time peak of $710 earlier today, according to CoinGecko data. The fourth-largest cryptocurrency is currently valued at $106 billion after spiking roughly 16% over the last week. Notably, open interest in BNB has more than doubled on Wednesday amid the massive price rally. Binance comes in first place when it comes to BNB futures open interest with more than $700 million. More than $4.4 million worth of Bitcoin short positions have been liquidated over the past 24 hours, according to CoinGlass data. Various projects on the BNB Chain have also seen surging trading…
Abra and its founder and CEO William “Bill” Barhydt have settled with 25 state financial regulators for operating without money transmitting licenses. Abra will return up to $82.1 million to U.S.-based customers in the 25 states. Crypto investment platform Abra and its founder and CEO William “Bill” Barhydt have settled with 25 state financial regulators for operating its mobile application without the proper licenses, according to a Wednesday announcement from the Conference of State Bank Supervisors (CSBS). Under the terms of the settlement agreement, Abra will return up to $82.1 million in crypto to U.S. customers in the settling states.…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the rapidly evolving landscape of web3, a common misconception persists among developers and startups: that the choice of blockchain is the paramount concern for users or sticking with the ethos of web3 is Northstar and guiding principles. One case in point is the web3 social network or “decentralized” social network. You might also like: Web3 adoption would be impossible without intuitive UX and convenience | Opinion The original selling points of many decentralized social networks were…