Day: March 25, 2022

Decentralization, DAOs and the current Web3 concerns

Tatiana Revoredo

What we call Web3 will be centered on an ecosystem of technology products that are decentralized, based on blockchain networks, interoperable, and without a traditional trusted validator (such as corporations, institutions and government bodies). But exactly what does this mean?  What is Web3? Web3, a term coined by Gavin Wood, Web3 Foundation president, is the next phase of the internet and, perhaps, of organizing society as a whole. Web1 was the era of open, decentralized protocols, where most online activity involved browsing individual static pages. Web2, which we are now…

After years of doubts and concerns, it is finally Bitcoin’s time to shine

Sheraz Ahmed

Gold has served as a store of value for thousands of years. Due to this, investors have widely used it as a hedging tool against the effects of recessions and inflation often caused by geopolitical tensions. In light of recent events such as the COVID-19 pandemic and, more recently, the military crisis between Russia and Ukraine, many investors have sought alternatives to gold and other precious metals as hedging options. As we approach a digitized age, it is a prerequisite that alternatives to gold are equipped to deal with the…

Crypto-Streaming is the Web3 Way of Wage-Keeping and it is Better Than You Imagine

Anthony B

Businesses, freelancers, artists, charity organizations, investment pools are all options for streaming crypto for investing or investments. The process is fully decentralized and built with the best decentralization practices. Real-time payments can be made instantly, with no wrappers, and real-time withdrawals are possible. Crypto streams allow users to redirect incoming tokens to any outgoing stream of tokens. The stream is then always converted to the amount per second, which is the actual amount transferred between accounts. The concept could quite literally change how money and crypto exchanges hands. Roketo Built…

Ukraine launches NFT museum ‘to keep the memory of war’

Turner Wright

The Ministry of Digital Transformation in Ukraine has started an online nonfungible token museum aimed at preserving the timeline of major events starting with the Russian military invading the country. In a Friday tweet, Ukraine’s minister of digital transformation Mykhailo Fedorov said the government launched an initiative with nonfungible token, or NFT, artwork depicting key moments from the Ukrainian perspective from Feb. 24 onward. The NFTs feature events starting at 5:45 AM local time on the day of the conflict, when Russia announced a “special military operation” in the Donbas…

Avalanche Foundation, OP3N Launch $100M Web3 Culture Fund

Brooks Butler

Key Takeaways Culture Catalyst has launched in partnership with OP3N and the Avalanche Foundation in a $100 million initiative. Musicians Grims and Ava Max will be releasing content on OP3N as early contributors. The Avalanche Foundation announced another nine-figure development initiative earlier this month. Share this article NFT launchpad platform OP3N has partnered with the Avalanche Foundation to launch Culture Catalyst, a $100 million initiative meant to shape Web3 entertainment business models. Specifically, Culture Catalyst seeks to cultivate arts and entertainment projects within the Avalanche ecosystem. Culture Catalyst Launches Avalanche…

MIT adds the Bank of England to its stable of CBDC digital currency research partners

Derek Andersen

The Bank of England announced Friday that it had reached an agreement with the Massachusetts Institute of Technology Media Lab Digital Currency Initiative, or DCI, on a joint twelve-month research project on Central Bank Digital Currency, or CBDC. The bank said in a statement that the new project was for research purposes only, and not intended to develop an operational CBDC. The bank began studying CBDC in 2020, releasing a discussion paper in March of that year, which the DCI responded to with a discussion of how a CBDC could…

The Alarming Double Edge of Web3: Beyond The Solana Hack

Anthony B

Web3 tumbles as the Solana-based stablecoin Cashio lost its value after an experienced attacker exploited it for around $28 million. As the bloodshed of rug pulls grows, it is worth discussing what is at stake in the bigger picture. SOL trades at $102 in the daily chart | TradingView.com Related Reading | Coinbase Discards Cryptocurrency Links After ‘Rug Pull’ Threats How It Happened A researcher from Paradigm explained the $50M attack. Another day, another Solana fake account exploit. This time, @CashioApp lost around $50M (based on a quick skim). How did…

Secretary Yellen recognizes ‘benefits of crypto’ despite lingering skepticism

Tom Farren

Janet Yellen, the 78th United States Secretary of the Treasury, spoke Friday morning on CNBC’s flagship business and politics show Squawk Box, on an array of topics from the growth of the renewable energy sector amid Russia’s economic isolation, the rising levels of inflation and Federal Reserve responsibility, as well as her current perspective on digital assets. Recognizing the multitude of technological and societal advancements within the cryptocurrency space over the past few years, Yellen offered a friendlier, more receptive tone than on previous occasions, stating that crypto is “now…

White House Wants Public Comments on Crypto’s Energy Use and Environmental Impact

Cheyenne Ligon

In his executive order on crypto issued earlier this month, President Joe Biden tasked the White House’s Office of Science and Technology Policy (OSTP) with preparing a report on the “potential for digital assets to impede or advance efforts to tackle climate change and the transition to a clean and reliable electricity grid,” according to a document published in the Federal Register on Friday. Author: Cheyenne Ligon Source link