Author: NBTC
Ethereum and Bitcoin, two of the world’s largest blockchains, are facing significant challenges in scaling their networks. As more users and transactions move to layer two (L2) solutions, these systems could undermine the security and sustainability of the base layer (L1), with fees and rewards for miners and validators dwindling. Growing L2 Adoption Raises Concerns for Base Layers Both Ethereum and Bitcoin are grappling with a fundamental issue: how to scale their networks to accommodate the growing number of users without sacrificing security or decentralization. Recently, Cybercapital founder Justin Bons presented his theory that Layer 2 (L2) platforms are “parasitic”…
The Power Law Corridor model further anticipates that Bitcoin could touch $89,000 or more before the end of the year based on price oscillations. The current Bitcoin price range is similar to previous trading ranges before large movements up or down, hence suggesting that a new breakout is in its way. The blue line on the model is seen by analysts as a long term trend, which consistently brings Bitcoin price up to higher grounds. Bitcoin is expected to hit and surpass the 89k mark by the end of the year through a principle called the Power Law Corridor. Experts…
With spot crypto ETFs gaining momentum, many expect the upcoming US election to influence their approval. The Securities and Exchange Commission’s recent appeal of the court ruling in its case against Ripple Labs could also hinder those types of funds getting the regulatory green light. Investment firm Bitwise on Tuesday filed for an ETF that would hold Ripple (XRP) directly. Canary Capital appeared to file for a similar product, according to the Delaware corporation website. Read more: Bitwise files SEC paperwork to launch spot XRP ETF The digital asset that powers the XRP Ledger public blockchain, XRP helps facilitate cross-border…
The various use case tests conducted by UK Finance in partnership with Quant, R3, DXC Technology, and Coadjute found that the Regulated Liability Network could unlock new functionalities for the UK’s financial system. The report also states that UK regulation is versatile enough to support the network’s operations. UK Finance Concludes Experimentation Phase of Regulated Liability Network Successfully UK Finance, an association of over 300 institutions providing banking, intermediation, and payment services, has published a report disclosing the results found during the Regulated Liability Network’s (RLN) experimentation phase. The project, which combines central bank money, commercial bank money, and electronic…
In a noteworthy development regarding decentralized applications and blockchain-related identity verification, Nabox Wallet has unveiled a new integration. As per Nabox Wallet, it is integrating the XSTAR dApp, introducing the Omnichain Identity Protocol for Proof of Humanity to consumers at Nabox. The platform took to its official social media account to announce this development. 🎉 XSTAR DApp is now listed on #NaboxWallet.@xstar_id is the Omnichain Identity Protocol for Proof of Humanity, with an Adaptive Humanity Scoring system to authenticate individuals.👉 Dive in and get started! https://t.co/1zorsy0bd6#XName #Nabox #DID #Web3 pic.twitter.com/nOKlWJIbMW — Nabox (@naboxwallet) October 6, 2024 Nabox Wallet Partners with…
On Monday, Bitcoin traded just shy of its month-long high, extending last week’s gains in crypto and risk assets, including stocks, following the U.S. Federal Reserve’s rate hike decision. The Fed lowered its benchmark interest rate by 50 basis points on Wednesday, exceeding economists’ expectations of a quarter of a percentage point cut. It also marked the first time that the central bank had slashed the rate in four years. Crypto analysts have embraced the move as a positive catalyst for market activity, especially since Bitcoin, a key market indicator, has yet to reclaim its March all-time high of over…
With social trading meeting networking, Moo Deng is set to disrupt social trading by incorporating cryptocurrency investment. Bittensor combines artificial intelligence and blockchain disrupting content creation and curration. TAO begins concepts such as tokenization of social influence, enabling users to place a price on their persona. One of the most striking phenomena in the crypto sphere of the modern world has become the integration of social media and decentralized finance called SocialFi. By 2024, several projects have emerged to address the challenges with great social interaction solutions that include the use of incentives. This article will outline six extraordinary socialFi…
The U.S. Securities and Exchange Commission (SEC) has made key progress in its lawsuit against Ripple, as its appeal is filed in the Court of Appeals for the Second Circuit’s PACER system. As usual, famous defense lawyer James K. Filan shared the development yesterday on X, noting that the appeal has been docketed in the Second Circuit’s PACER docketing system. It bears mentioning that the PACER system tracks federal cases being heard within the Second Circuit. Attorney Filan shared screenshots of the case, confirming that the SEC appeal is currently in the Second Circuit’s appellate court system. #XRPCommunity #SECGov v.…
ENS New Domain Registrations Drop 22.9% in September In a noticeable shift, the Ethereum Name Service (ENS) saw a significant decline in new domain registrations during September 2024. According to Dune Analytics data, 15,569 new ENS domains were registered, reflecting a 22.9% drop compared to the 20,202 registrations recorded in the previous month of August. Despite the drop, ENS remains a crucial component of the Web3 ecosystem, with the total number of active domains now standing at 1,912,116. The latest data also reveals that ENS has 886,738 unique user addresses, and a total of 887,331 ENS names have been set,…
South Korean lawmakers are distancing themselves from cryptocurrency, claiming their wallets now contain nothing more than “crypto dust.” This follows a series of political scandals involving crypto, with several prominent lawmakers selling off their holdings. One Member of Parliament reportedly sold $85,200 worth of Bitcoin soon after declaring his assets. The shift comes amid rising scrutiny over politicians’ involvement with cryptocurrencies, particularly after the “Coin Gate” scandal. This scandal implicated former lawmaker Kim Nam-guk, who was accused of insider trading and using confidential information to trade coins. These allegations have pushed lawmakers to declare their crypto holdings publicly before elections.…