Author: NBTC

Mark Odayan, head of research at 2077 Research, asserts that Ethereum’s EIP-1559 should not be equated with the concept of “Ultrasound Money.” Odayan’s insights aim to clarify the transaction fee mechanism introduced by EIP-1559 and address widespread misunderstandings. Ethereum’s EIP-1559: Mark Odayan Calls for Rethinking ‘Ultrasound Money’ Links In a detailed analysis by 2077 Research, Mark Odayan emphasizes that Ethereum’s EIP-1559, a pivotal update to the network’s transaction fee mechanism, is often misunderstood. According to Odayan, misconceptions fueled by popular memes have overshadowed the actual design objectives of EIP-1559. The update, which adjusts how transaction fees are calculated and introduces…

VeChain’s VeBetterDAO has reached over 2 million token transfers just nine weeks after its mainnet launch. Sunny Lu proposed suspending Quadratic Voting due to Sybil’s attack concerns, with over 75% community support. In a recent post on X, VeChain announced that VeBetterDAO has reached a significant milestone just nine weeks after its mainnet launch. The platform has witnessed more than 784,423 VOT3 token transfers and 1,495,190 B3TR token transfers, making more than 2 million transfers. The ecosystem has been adopted at a very fast rate, and people have been using it actively, which shows that this ecosystem is still growing…

The XRP community would not see a Ripple IPO in the US, as Brad Garlinghouse has ruled out the chances of such an occurrence. Ripple CEO Brad Garlinghouse has dashed the XRP community’s hopes of an imminent initial public offering (IPO). Garlinghouse clearly stated in the Korean Blockchain Week on Wednesday that Ripple Labs will not pursue an IPO in the United States. The Ripple boss cited an unclear regulatory environment as the driving force behind his position, noting that his firm is not interested in another round of legal tussle. Garlinghouse stated that the regulatory crisis conjured by the…

Bybit has received formal consent from the Astana Financial Services Authority for full authorization in Kazakhstan. In a Sept. 6 press release, Bybit said it aims to tap into the growing crypto market in Kazakhstan and the broader Commonwealth of Independent States region. The AFSA granted the approval, bringing the platform closer to becoming a fully regulated Digital Asset Trading Facility in the region. This development follows Bybit Kazakhstan’s successful completion of a stringent regulatory process, which included an Anti-Money Laundering check, a business conduct audit, and compliance inspections. You might also like: Coinbase stock forms risky patterns as crypto…

Approximately 54,000 Bitcoin (BTC), worth around $3 billion, was mined in Russia last year, said Sergey Bezdelov, the Director of the Industrial Mining Association, at the Eastern Economic Forum 2024, first reported by media outlet Izvestia. According to Bezdelov, this could generate around 50 billion rubles in taxes for the Russian government. He expects the recent legalization of crypto mining in Russia to attract more investors and increase tax revenue. On August 8, Russian President Vladimir Putin signed a law legalizing crypto mining in the country. That means crypto mining is now a legitimate economic activity and legal entities can…

Shiba Inu lead developer Shytoshi Kusama expresses enthusiasm for the rebranding of Shiba Eternity’s official X handle. In an X post yesterday, @ShibaEternity disclosed that it has evolved to @PlayWithShib to focus on the Shiba Inu gaming community. The handlers of the rebranded Shiba Eternity X account urged Shiba Inu gamers to follow the account for more updates relating to Shiba Inu games. Shiba Inu Lead Reacts Reacting, Shiba Inu’s lead developer characterized the rebranding as an epic move, indicating that the evolution is a positive development. He expressed excitement about the initiative using the phrase “Games Galore and more!…

The Financial Conduct Authority said more 87% of crypto registrations received in 2023-24 fell short of meeting approval standards. The FCA has been overseeing the crypto sector in the U.K. and registering firms under its anti-money laundering rules since 2020. The U.K.’s financial regulator said a full 87% of crypto companies that applied for licensing under the country’s money laundering rules failed to win approval in its most recent fiscal year. Only four of the 35 applications received by the Financial Conduct Authority (FCA) managed to qualify in the 12 months ended March 31, it said in its annual report.…

Arbitrum Foundation brought Web3 gaming to this year’s WebX in Tokyo, Asia’s leading Web3 conference, with a programme including panel discussions, playable demos and evening soirées. On the show floor, hundreds of attendees stopped by the Arbitrum Foundation and ApeChain booth for the opportunity to get hands-on with playable key titles including onchain RPG Tarochi, memecoin racing title Kitty Kart Racing, and GameFi battler Gensokishi. Image: Arbitrum Also showcased were titles such as Aavegotchi, Pirate Nation, Beacon, Zeeverse and InfiniGods, as well as promo footage for Poglin Smash, Ubisoft’s Captain Laserhawk – The G.A.M.E and Sanko GameCorp. Captain Laserhawk -…

Sergey Bezdelov, Director of Russia’s Industrial Mining Association, revealed that around 54,000 BTC, more than $3 billion, were mined in Russia last year, according to local news outlet Izvestia. This mining activity reportedly generated about 50 billion rubles ($556 million) in taxes for the Russian government. Bezdelov believes the recent legalization of crypto mining will boost investor interest and further increase tax revenue. In July, Russia’s State Duma passed a bill legalizing Bitcoin mining and allowing crypto use in international trade. This move established crypto mining as a legitimate economic activity, requiring legal entities to register or comply with specific…

In recent days, as bitcoin edged past the $60,000 mark after dipping below $50,000 on Monday, Aug. 5, a couple of intriguing dormant bitcoin transfers have surfaced from wallets established in 2013. The first case involved an individual who moved 250 BTC—worth just over $15 million—from a long-inactive address created on May 12, 2013. In another curious instance, a separate entity transferred 130 BTC across 13 individual transactions. Forgotten Bitcoin From 2013 Resurfaces, Moving $23M in 2 Days On Aug. 7 and 9, 2024, a few long-dormant bitcoin wallets from 2013 unexpectedly sprang to life after years of inactivity. The…