Connect with us

Blockchain

BPSAA | Blockchain Privacy, Security & Adoption Alliance

Avatar

Published

on

BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

Home

Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

Blockchain

Canaan Sees Over 75% Decline in Net Revenue in Q3 as Bitcoin’s Price Surge

Avatar

Published

on

Chinese Bitcoin mining firm Canaan has recorded a loss in yet another quarter but is showing positive signs of a recovery as share price and market capitalization spikes. Following a disappointing initial public offering (IPO) last year and declining inventory sales, the company has seen the balance of power shift considerably to major competitors MicroBT and Bitmain.

$12.7 Million Loss for Q3 2020

Bitcoin miner maker Canaan has reported a 75.7% year-on-year (YOY) decline in net revenue as part of its Q3 2020 financials published on Nov. 30. In the report, Canaan revealed that its net revenue for the period was $24 million, which also amounts to an 8.5% reduction from the earnings recorded in the previous quarter.

Following the significant drop in quarter-on-quarter (QOQ) net revenue, it is unsurprising to see Canaan post another quarterly net loss in 2020. According to its Q3 2020 financials, the bitcoin mining chip maker recorded a net loss of $12.7 million, compared to a $2.5 million loss in Q2 2020 and $14.3 million in Q3 2019.

Commenting on the firm’s Q3 financial performance, Nangeng Zhang, Canaan’s CEO and Chairman said:

“During the third quarter of 2020, we remained undeterred by the pandemic to strengthen our research and development capabilities, expand our AI business, and execute new business initiatives. By leveraging our enhanced R&D capabilities in the third quarter, we launched our A1246 product series, which continues to lead the industry with its energy efficiency, computing power, and unit cost.”

Canaan Market Cap on the Rise

Net loss aside, Canaan has been recording some positives in the latter part of 2020. Indeed, the company’s market capitalization has more than tripled from $300 million in September to about $900.8 million as of press time.

Canaan’s share price has also been on a tear in recent months, rising over 200% within the same period. With one-third of Q4 remaining, the company’s stock has risen over 170%. Maintaining the current price action could see the Bitcoin miner manufacturer’s stock price challenge its IPO float price of $9, which incidentally is its all-time high share price.

Tweeting on Canaan’s Q3 performance, @WuBlockchain identified rising inventory sales and the release of the company’s A1246 miners are contributing factors to the firm’s recent resurgence.

Canaan was also among a group of Chinese mining hopefuls looking to float IPOs in the last couple of years. However, Canaan’s offerings fell short of the mark, failing to even realize a quarter of the $400 million estimate.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/canaan-sees-over-75-decline-in-net-revenue-in-q3-as-bitcoins-price-surge/

Continue Reading

Blockchain

Ethereum Prices Return to $620 Resistance on ETH 2.0 Launch Day

Avatar

Published

on

Today marks the long-awaited genesis of Phase 0 in the Ethereum 2.0 upgrade roadmap which stretches ahead for the next couple of years. According to the Beacon Chain countdown, there is now less than seven hours to go before the genesis event spawns the first block on the new chain.

The Beacon Chain explorer reports that there is currently 872,000 ETH staked which equates to approximately $525,000 at today’s prices.

No Native Scaling For a Year

The excitement over the launch is palpable but many are still unaware that the new blockchain will not actually function as anything other than providing staking rewards to validators. All of the smart contracts, dApps, and transactions will continue as usual on the original ETH 1.0 chain.

Researchers at Messari Crypto pointed out;

“When the Beacon Chain launches tomorrow, outside of bootstrapping a network of proof of stake validators, it will have little functionality.”

This also means that there will still be issues with high gas prices when the existing network comes under heavy load which is bound to happen over the next year if DeFi momentum continues and the space evolves even more.

Phase 1 will introduce scaling through sharding, which will introduce 64 parallel side chains to take the load off the main chain and increase throughput. This is unlikely to occur for at least another year from today, and even then ETH 1.0 and 2.0 will operate independently until Phase 1.5 merges them together sometime in 2022.

Either way, the Ethereum community is hyped up over the event which is the culmination of five years of research and development for the world’s largest smart contract and decentralized application network. In his latest Bankless newsletter, David Hoffman aptly said;

“We were born too late to explore the globe, too early to explore the galaxy, but we were born at the perfect moment to explore the infinite whitespace of Ethereum 2.0.”

Ethereum Prices at Resistance

Ethereum prices have returned to their June 2018 price high of $620 just hours before the launch. This level appears to have formed a double top and heavy resistance zone as it did in early 2018. A next leg up could take prices to $800 where further resistance lies, but on the downside, support can be found at around $520.

At the time of press, ETH prices had retreated a little to trade at $605 but the momentum and potential is still with it.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/ethereum-prices-return-to-620-resistance-on-eth-2-0-launch-day/

Continue Reading

Blockchain

Yearn’s merger with SushiSwap will be the most comprehensive to date

Avatar

Published

on

The flurry of Yearn.finance (YFI) “mergers” continues with the tightest integration yet with SushiSwap (SUSHI), the decentralized exchange that began its life as a Uniswap fork.

Announced by Yearn founder Andre Cronje on Tuesday, the collaboration involves a variety of synergies between the two ecosystems and other projects launched by Cronje.

Like with previous integrations, the two teams will merge development resources and integrate their liquidity pools to increase total value locked. Yearn will help in creating an xSushi vault to farm SUSHI, Ether (ETH), YFI and Wrapped BTC (wBTC).

Yearn will subsequently use SushiSwap as the automated market maker of choice for its yield farming strategies.

Many further integrations rely on subprojects of the Yearn growing ecosystem. Keep3r, a network to perform arbitrary jobs with smart contracts, will move its treasury to SushiSwap and add implementations for SushiSwap’s limit and stop-loss orders, in addition to an integration into SushiBar V2, its yield farming platform.

Cover protocol will also add the possibility of insuring SushiSwap liquidity pools through its system of CLAIM tokens. Cream Finance will provide liquidity into SushiSwap’s upcoming Bento Box and add SushiSwap liquidity pool tokens as collateral for lending.

The two teams will work together on Deriswap, Cronje’s upcoming derivatives trading platform, as well as an undisclosed future project.

SushiSwap governance and tokens will remain separate from Yearn, but the teams want to connect the two projects’ treasuries to let each have a stake in the other. A governance vote will be held in both projects that would let holders choose if part of their treasuries should be devoted to purchasing each other’s tokens. The two projects will thus be able to participate in each other’s governance processes in the future.

Further integrations that will be put up for a vote include a SushiSwap liquidity incentive for some of Yearn’s yield farming pools to be allocated by Yearn, with the CRV to yyveCRV pool being a potential candidate. The Keep3r/ETH pool would also be included in SushiSwap’s “permanent menu” of SUSHI rewards. Finally, grants to SushiSwap developers would be paid through yGift tokens, a non-fungible token that holds a certain amount of money and includes a customized message.

The integration with SushiSwap is deeper than with most other projects, and it is the first to include a mutual exchange of treasury allocations. Due to this, it is also the first Yearn merger to be put up for a vote. Nonetheless, only some of these specific items will be deliberated on by the community.

The merger with SushiSwap is the fifth seen so far, and the first with a decentralized exchange platform. Previous integrations included other yield optimization protocols like Pickle Finance and Akropolis, the Cream lending protocol and the Cover insurance platform.

Source: https://cointelegraph.com/news/yearn-s-merger-with-sushiswap-will-be-the-most-comprehensive-to-date

Continue Reading
Blockchain4 days ago

South Korean crypto market records more trades in Altcoins

Blockchain5 days ago

Wrapped- DGLD brings Swiss vault held Gold to Ethereum

Blockchain3 days ago

Latin American Bitcoin & Blockchain Conference Reveals Latest Speakers

Blockchain2 days ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain5 days ago

Libra Hired New Payments Subsidiary General Counsel: Report

Blockchain2 days ago

EOS Finds Support above $2.80, Resumes Upside Momentum

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Bitcoin Price Prediction: BTC/USD Resumes Upside Momentum, Struggles to Break Above $18,000 Price Level

Blockchain2 days ago

ECB Lays out ‘Reinvention of Money’ Strategy

Blockchain2 days ago

Litecoin Price Prediction: LTC/USD Ready to Revisit $80; Further Upside is Limited

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain2 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain2 days ago

Ripple price prediction: XRP to hit $0.67 next, analyst

Blockchain2 days ago

Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC

Blockchain4 days ago

Bitcoin Worth $3B from PlusToken Ponzi Scam Seized by Chinese Authorities

Blockchain4 days ago

Digital Euro: German finance minister urges ECB to accelerate its CBDC development

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Bitcoin Price Prediction: BTC/USD Back Above $17,500 Level as the King Coin Recovers

Blockchain2 days ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain2 days ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain2 days ago

Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale GBTC product

Blockchain2 days ago

Guggenheim Partners may be the next big player to bet on Bitcoin

Blockchain2 days ago

Ethereum Strengthens Polish City’s Emergency Services

Blockchain2 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain2 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain2 days ago

Guggenheim Partners prepares to dip investment fund’s toes into Bitcoin

Blockchain2 days ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain5 days ago

Yes, You Can Spend Your Bitcoin This Black Friday

Blockchain2 days ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain2 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain4 days ago

Yearn. Finance Price Analysis: Spike in Buying Pressure Could See YFI Prices Soar To $25k

Blockchain2 days ago

Bitcoin Climbs 5%, Why $18.2K Holds The Key For More Upsides

Blockchain2 days ago

Coinbase unwilling to participate in Spark’s airdrop

Blockchain5 days ago

$100M Liquidated From Compound Following Flash Loan Exploit

Trending