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The Wuling COVID Testing Cars will be delivered at the end of May

HONG KONG, May 23, 2022 - (ACN Newswire) - On May 13, Guo Yanhong, the supervisor of the Medical Administration and Hospital Authority of the National Health Commission,...

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20 Cryptocurrency Acronyms and Terminologies You Must Know in 2022

20-Cryptocurrency-Acronyms-and-Terminologies-You-Must-Know-in-2022!

One of the biggest buzzwords in the technology space at the moment has to be Cryptocurrency. So big, the entire cryptocurrency space is currently worth $1.89 Trillion as of the time of writing the article. If the cryptocurrency market was a stock market operated by a country, it would be the 18th largest stock exchange by market cap in the world. But very few know how cryptocurrency works or what it’s used for. According to a recent survey done by Cardify, only 16.9% of investors who have bought crypto “fully understand” the value and potential of cryptocurrency, while 33.5% of buyers have either zero knowledge about the space or would call their level of understanding “emerging.”  Even fewer know about the larger ecosystem that exists beyond the cryptocurrency space which includes Blockchain, Decentralised Finance, Web3, Smart Contract and so much more. In this article, we will break down all the terminologies and jargon around the cryptocurrency space into much simpler and more digestible bits using related anecdotes. Let’s go!   Crypto and Blockchain Predictions for 2022 1. Satoshi Nakamoto What better way to start than with the man who is presumed to be the brains behind the creation of Bitcoin, the first cryptocurrency. Many folks in the crypto space believe he’s a pseudonym that represents the original creator(s) of Bitcoin.  Whatever and wherever he is, dead or alive, the name has made history as being the pioneer of the most disruptive technology innovation at the moment. Given the price of BTC today, Satoshi would be a billionaire. In addition, the poor (rich) lad also exists as a token called Satoshi and currently trades on the Coinmarketcap with the price set at $0.000412.  2. Blockchain Blockchain is a combination of computer networks that transparently stores all the information about a crypto transaction. Visualize several series of blocks that contain the information in a space connected by endless chains.  Blockchain is the technology that powers all cryptocurrency transactions, for without it there won’t be any cryptocurrencies in existence. Its mission is to ‘wrestle power’ from centralized and opaque organizations like banks, government, lawyers, Insurance companies, etc and put it in the safe and transparent hands of ordinary folks like you and me, hence decentralizing the whole process of money exchange (a classic tale of Robinhood). 3. Bitcoin As you probably have noticed, decentralization is ironically the central theme for cryptocurrency, and no other token, coin, or terminology represents this theme like Bitcoin.  Bitcoin is a virtual or digital token that can only be used on the internet. Unlike the physical currencies e.g the US dollar and UK Pound Sterling which are controlled by the government, Bitcoin is controlled by anyone. And like the traditional currencies which are stored in physical wallets, Bitcoin can also be stored in wallets called digital wallets (We will talk more about this). Bitcoin is the first and most valuable cryptocurrency with the price currently at $38,230.  4. Ethereum Ethereum is the second most popular and valuable cryptocurrency but it has a more unique usage than Bitcoin.  The former serves as a medium of exchange and technology within the blockchain where other decentralized applications like Defi, Smart Contracts, NFT can be built on while the latter is only used as a medium of exchange.  Think of Ethereum as the Gold of cryptocurrency and Bitcoin as the dollar.  Ethereum can also be referred to as an alternative coin to Bitcoin. 5. Blockchain wallet The blockchain wallet acts the same way as your physical wallet which is used to store cash and cards except it is used online to store digital currencies like Bitcoin.  It is very secure and can only be accessed by a key unique only to the wallet online (unlike the physical wallet that can be ‘accessed’ by boys under the bridge). 6. Address An Address is a string of characters in a wallet that can send and receive cryptocurrency. It is synonymous with a real-life address or an email. Just like a physical address where no two houses can share the same numbers, each address on the blockchain is unique and marks the location of a wallet. 7. Altcoins Short form for alternative coins, Altcoins refer to any type of cryptocurrencies other than Bitcoin. Altcoins were created to serve a much better purpose to cryptocurrency users than Bitcoin.  Ethereum was the first-ever altcoin created. Other examples of altcoin include Solana, Bitcoin Cash (which is the 3rd most valuable cryptocurrency), XRP, Cardano, etc. 8. Shitcoins Shitcoins are altcoins that are fraudulently created and serve no intrinsic value to users. They are truly shitty by every definition of the word. Examples of shitcoins include Dogecoin, Shiba Inu, Safe Moon, Magic Internet Money, etc. 9. Cryptocurrency Exchanges Crypto Exchanges are platforms where digital currency owners can buy or sell cryptocurrency … Continued

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Ukraine Government Launches It’s NFT Museum Of War

NFT Museum Of War

To raise funds to assist its army and civilians who have been harmed by the ongoing Russian attack, Ukraine has launched its NFT museum of war. With just a few days having passed since Russia began its invasion of Ukraine, the Ukrainian government announced an appeal for contributions in cryptocurrencies such as Bitcoin, Ether, and USDT to aid in the support of its soldiers and citizens who had been displaced by the invasion. The response to this appeal for donations was overwhelmingly encouraging from the crypto community. According to Elliptic, a cryptocurrency analytics company, the appeal for donations netted more than $60 million in contributions. After previously planning to issue an airdrop to people who have donated crypto to help the country, Ukraine decided to go with an NFT project instead, hoping that more individuals will donate as a result of the sale of NFTs, as donors will have confirmation that they have made a donation. Ukraine’s NFT Museum of War The museum, which is named Meta History: Museum of War, was established to commemorate the Ukrainian identity and independence with NFTs depicting various days of the ongoing war. In it, a variety of digital images are shown, including warplane silhouettes, cartoon explosion images, and various photos of news stories.  A statement from Ukraine’s Ministry of Digital Transformation said that the project’s purpose is to preserve the memory of the genuine events of the war period, to transmit honest information throughout the digital community across the globe, and to collect contributions for the assistance of Ukraine. According to the website, each NFT will be sold for 0.15 ETH, and all revenues from the sale will be deposited into the country’s cryptocurrency wallet. NFTs are digital tokens that can be sold and traded. They contain valuable data stored on a blockchain, which is a type of digital ledger. It seems the Ukrainian government is looking to take advantage of the recent popularity of NFTs to bring in donations. 

The post Ukraine Government Launches It’s NFT Museum Of War appeared first on Cryptoknowmics-Crypto News and Media Platform.

Ukraine Government Launches It’s NFT Museum Of War

NFT Museum Of War

To raise funds to assist its army and civilians who have been harmed by the ongoing Russian attack, Ukraine has launched its NFT museum of war. With just a few days having passed since Russia began its invasion of Ukraine, the Ukrainian government announced an appeal for contributions in cryptocurrencies such as Bitcoin, Ether, and USDT to aid in the support of its soldiers and citizens who had been displaced by the invasion. The response to this appeal for donations was overwhelmingly encouraging from the crypto community. According to Elliptic, a cryptocurrency analytics company, the appeal for donations netted more than $60 million in contributions. After previously planning to issue an airdrop to people who have donated crypto to help the country, Ukraine decided to go with an NFT project instead, hoping that more individuals will donate as a result of the sale of NFTs, as donors will have confirmation that they have made a donation. Ukraine’s NFT Museum of War The museum, which is named Meta History: Museum of War, was established to commemorate the Ukrainian identity and independence with NFTs depicting various days of the ongoing war. In it, a variety of digital images are shown, including warplane silhouettes, cartoon explosion images, and various photos of news stories.  A statement from Ukraine’s Ministry of Digital Transformation said that the project’s purpose is to preserve the memory of the genuine events of the war period, to transmit honest information throughout the digital community across the globe, and to collect contributions for the assistance of Ukraine. According to the website, each NFT will be sold for 0.15 ETH, and all revenues from the sale will be deposited into the country’s cryptocurrency wallet. NFTs are digital tokens that can be sold and traded. They contain valuable data stored on a blockchain, which is a type of digital ledger. It seems the Ukrainian government is looking to take advantage of the recent popularity of NFTs to bring in donations. 

The post Ukraine Government Launches It’s NFT Museum Of War appeared first on Cryptoknowmics-Crypto News and Media Platform.

Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas

ExxonMobil

Since January 2021, the oil and gas giant ExxonMobil has been operating a pilot project to power Bitcoin mining operations.  Overview of the Pilot Project The pilot project’s objective is to utilize ‘wasted gas’ from its North Dakota oil wells to power Bitcoin mining operations. ExxonMobil, the largest oil producer in the United States, intends to expand the project into other nations as well.  These include Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta Shale formation, as well as Alaska, Guyana, and Germany. Reportedly, each month the project consumes 18 million cubic feet of natural gas. Due to a shortage of pipelines, the extra natural gas would normally be burned or flared. New Partnership for ExxonMobil ExxonMobil also unveiled an arrangement with Crusoe Energy Systems that allows the latter to power mobile generators. These are utilized for the Bitcoin mining servers on-site with the gas derived from Bakken Shale Oil Wells.  A representative of ExxonMobil disclosed in a statement that the multination conglomerate had been continually looking for ways to reduce its gas flaring volumes. However, ExxonMobil’s spokesperson denied clarifications on the company’s need to utilize natural gas for Bitcoin mining.  In conclusion, there have been multiple research papers emphasizing the role of Bitcoin mining in promoting renewable energy sources. Thereby, using natural gases that could be flared can assist in lessening the impact of the process on the environment, leading to a win-win scenario.   

The post Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas appeared first on Cryptoknowmics-Crypto News and Media Platform.

Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas

ExxonMobil

Since January 2021, the oil and gas giant ExxonMobil has been operating a pilot project to power Bitcoin mining operations.  Overview of the Pilot Project The pilot project’s objective is to utilize ‘wasted gas’ from its North Dakota oil wells to power Bitcoin mining operations. ExxonMobil, the largest oil producer in the United States, intends to expand the project into other nations as well.  These include Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta Shale formation, as well as Alaska, Guyana, and Germany. Reportedly, each month the project consumes 18 million cubic feet of natural gas. Due to a shortage of pipelines, the extra natural gas would normally be burned or flared. New Partnership for ExxonMobil ExxonMobil also unveiled an arrangement with Crusoe Energy Systems that allows the latter to power mobile generators. These are utilized for the Bitcoin mining servers on-site with the gas derived from Bakken Shale Oil Wells.  A representative of ExxonMobil disclosed in a statement that the multination conglomerate had been continually looking for ways to reduce its gas flaring volumes. However, ExxonMobil’s spokesperson denied clarifications on the company’s need to utilize natural gas for Bitcoin mining.  In conclusion, there have been multiple research papers emphasizing the role of Bitcoin mining in promoting renewable energy sources. Thereby, using natural gases that could be flared can assist in lessening the impact of the process on the environment, leading to a win-win scenario.   

The post Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas appeared first on Cryptoknowmics-Crypto News and Media Platform.

Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas

ExxonMobil

Since January 2021, the oil and gas giant ExxonMobil has been operating a pilot project to power Bitcoin mining operations.  Overview of the Pilot Project The pilot project’s objective is to utilize ‘wasted gas’ from its North Dakota oil wells to power Bitcoin mining operations. ExxonMobil, the largest oil producer in the United States, intends to expand the project into other nations as well.  These include Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta Shale formation, as well as Alaska, Guyana, and Germany. Reportedly, each month the project consumes 18 million cubic feet of natural gas. Due to a shortage of pipelines, the extra natural gas would normally be burned or flared. New Partnership for ExxonMobil ExxonMobil also unveiled an arrangement with Crusoe Energy Systems that allows the latter to power mobile generators. These are utilized for the Bitcoin mining servers on-site with the gas derived from Bakken Shale Oil Wells.  A representative of ExxonMobil disclosed in a statement that the multination conglomerate had been continually looking for ways to reduce its gas flaring volumes. However, ExxonMobil’s spokesperson denied clarifications on the company’s need to utilize natural gas for Bitcoin mining.  In conclusion, there have been multiple research papers emphasizing the role of Bitcoin mining in promoting renewable energy sources. Thereby, using natural gases that could be flared can assist in lessening the impact of the process on the environment, leading to a win-win scenario.   

The post Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas appeared first on Cryptoknowmics-Crypto News and Media Platform.

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas

ExxonMobil

Since January 2021, the oil and gas giant ExxonMobil has been operating a pilot project to power Bitcoin mining operations.  Overview of the Pilot Project The pilot project’s objective is to utilize ‘wasted gas’ from its North Dakota oil wells to power Bitcoin mining operations. ExxonMobil, the largest oil producer in the United States, intends to expand the project into other nations as well.  These include Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta Shale formation, as well as Alaska, Guyana, and Germany. Reportedly, each month the project consumes 18 million cubic feet of natural gas. Due to a shortage of pipelines, the extra natural gas would normally be burned or flared. New Partnership for ExxonMobil ExxonMobil also unveiled an arrangement with Crusoe Energy Systems that allows the latter to power mobile generators. These are utilized for the Bitcoin mining servers on-site with the gas derived from Bakken Shale Oil Wells.  A representative of ExxonMobil disclosed in a statement that the multination conglomerate had been continually looking for ways to reduce its gas flaring volumes. However, ExxonMobil’s spokesperson denied clarifications on the company’s need to utilize natural gas for Bitcoin mining.  In conclusion, there have been multiple research papers emphasizing the role of Bitcoin mining in promoting renewable energy sources. Thereby, using natural gases that could be flared can assist in lessening the impact of the process on the environment, leading to a win-win scenario.   

The post Gas Giant ExxonMobil Will Soon Mine Bitcoin With Natural Gas appeared first on Cryptoknowmics-Crypto News and Media Platform.

LG Electronics Incorporates Digital Assets and Blockchain in Business

LG Electronics Incorporates Digital Assets and Blockchain in Business

On March 24, 2022, the tech powerhouse giant, LG Electronics shared an announcement at the Annual General Meeting.  LG Enters The Crypto Space As part of its expansion plan, the South Korean conglomerate intends to incorporate three areas in its business sectors. These include cryptocurrency (digital assets), blockchain, and medical devices.  During the corporation’s meeting, key shareholders approved of the new business goals. These goals entail the sale of cryptocurrencies and the development of blockchain-based software.  Inspired by Samsung Following the electronics multinational corporation Samsung’s venture into the NFT space, LG Electronics also expressed its piquing interest in the virtual world.  Last month, LG Electronics partnered with GroundX, a blockchain platform. The move was initiated with the objective of offering users an immersive NFT experience on their smart televisions.  With the latest announcement, LG can install NFT platforms that enable the trade of NFT artworks (collectibles) on LG’s smart television. Additionally, the company introduces another application as well. Drops Gallery, a digital art application allows people with smart TVs to enjoy rare digital artworks and cloud game services.  Ever-Evolving South Korean Crypto Market Leading multinational tech giants of South Korea including LG, Samsung, and the SK Group are reportedly expanding enormously in the crypto and blockchain markets. Samsung and LG have built their presence in digitized markets with the introduction of crypto, NFT, and blockchain features on their products.  The South Korean President Yoon Suk-yeol guarantees deregulation of crypto, reduction of tax, and a push towards the NFT sector. Thereby, under the rule of the crypto-friendly South Korean President, it is guaranteed that crypto adoption will surely flourish in the East Asian country.

The post LG Electronics Incorporates Digital Assets and Blockchain in Business appeared first on Cryptoknowmics-Crypto News and Media Platform.

LG Electronics Incorporates Digital Assets and Blockchain in Business

LG Electronics Incorporates Digital Assets and Blockchain in Business

On March 24, 2022, the tech powerhouse giant, LG Electronics shared an announcement at the Annual General Meeting.  LG Enters The Crypto Space As part of its expansion plan, the South Korean conglomerate intends to incorporate three areas in its business sectors. These include cryptocurrency (digital assets), blockchain, and medical devices.  During the corporation’s meeting, key shareholders approved of the new business goals. These goals entail the sale of cryptocurrencies and the development of blockchain-based software.  Inspired by Samsung Following the electronics multinational corporation Samsung’s venture into the NFT space, LG Electronics also expressed its piquing interest in the virtual world.  Last month, LG Electronics partnered with GroundX, a blockchain platform. The move was initiated with the objective of offering users an immersive NFT experience on their smart televisions.  With the latest announcement, LG can install NFT platforms that enable the trade of NFT artworks (collectibles) on LG’s smart television. Additionally, the company introduces another application as well. Drops Gallery, a digital art application allows people with smart TVs to enjoy rare digital artworks and cloud game services.  Ever-Evolving South Korean Crypto Market Leading multinational tech giants of South Korea including LG, Samsung, and the SK Group are reportedly expanding enormously in the crypto and blockchain markets. Samsung and LG have built their presence in digitized markets with the introduction of crypto, NFT, and blockchain features on their products.  The South Korean President Yoon Suk-yeol guarantees deregulation of crypto, reduction of tax, and a push towards the NFT sector. Thereby, under the rule of the crypto-friendly South Korean President, it is guaranteed that crypto adoption will surely flourish in the East Asian country.

The post LG Electronics Incorporates Digital Assets and Blockchain in Business appeared first on Cryptoknowmics-Crypto News and Media Platform.

LG Electronics Incorporates Digital Assets and Blockchain in Business

LG Electronics Incorporates Digital Assets and Blockchain in Business

On March 24, 2022, the tech powerhouse giant, LG Electronics shared an announcement at the Annual General Meeting.  LG Enters The Crypto Space As part of its expansion plan, the South Korean conglomerate intends to incorporate three areas in its business sectors. These include cryptocurrency (digital assets), blockchain, and medical devices.  During the corporation’s meeting, key shareholders approved of the new business goals. These goals entail the sale of cryptocurrencies and the development of blockchain-based software.  Inspired by Samsung Following the electronics multinational corporation Samsung’s venture into the NFT space, LG Electronics also expressed its piquing interest in the virtual world.  Last month, LG Electronics partnered with GroundX, a blockchain platform. The move was initiated with the objective of offering users an immersive NFT experience on their smart televisions.  With the latest announcement, LG can install NFT platforms that enable the trade of NFT artworks (collectibles) on LG’s smart television. Additionally, the company introduces another application as well. Drops Gallery, a digital art application allows people with smart TVs to enjoy rare digital artworks and cloud game services.  Ever-Evolving South Korean Crypto Market Leading multinational tech giants of South Korea including LG, Samsung, and the SK Group are reportedly expanding enormously in the crypto and blockchain markets. Samsung and LG have built their presence in digitized markets with the introduction of crypto, NFT, and blockchain features on their products.  The South Korean President Yoon Suk-yeol guarantees deregulation of crypto, reduction of tax, and a push towards the NFT sector. Thereby, under the rule of the crypto-friendly South Korean President, it is guaranteed that crypto adoption will surely flourish in the East Asian country.

The post LG Electronics Incorporates Digital Assets and Blockchain in Business appeared first on Cryptoknowmics-Crypto News and Media Platform.

South Korean Exchanges Complies New Crypto Travel Rule

South Korean Exchanges Complies New Crypto Travel Rule

South Korean crypto exchanges have finally reached an agreement to come into compliance with the ‘Travel Rule’ which was introduced by the Financial Action Task Force (FATF). Travel Rule is a cluster of guidelines issued by global financial watchdog FATF (Financial Action Task Force) to assist regulators trace movement of digital assets among VASPs (Virtual Asset Service Providers) such as cryptocurrency exchanges or virtual asset issuers. Starting from today, Korean exchanges need to report any crypto transfers worth over $821. Transfers higher than that will be restricted to user-verified wallets, with a select number of exchanges adopting their Anti-Money Laundering (AML) system. A source from a local centralized exchange praised the move to a crypto publication saying that the sector is marching ahead towards institutional acceptance and will work more for mass adoption: “The industry is now taking a step toward institutional acceptance and will work harder for mass adoption.”

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U.S. SEC Could Approve Spot Bitcoin ETFs By Next Year: Bloomberg

Cryptocurrency Threats in 2022

Bloomberg Exchange Traded Fund (ETF) analysts Eric Balchunas and James Seyffarth said that a proposed rule change with the U.S. Securities and Exchange Commission (SEC) could lead to the approval of a Spot Bitcoin ETF in mid 2023. Spot Bitcoin ETFs Could See Approvals by 2023: Bloomberg Analysts Balchunas wrote in a Twitter post Thursday that crypto platforms could fall under the SEC’s regulatory framework if the commission were to approve the amendment to change the definition of “exchange” proposed in January. If the rule change gets implemented, the exchange would have platforms “that can be used to trade securities of any type” including cryptocurrencies that could be more favorable for the regulators. “Expanding the definition of an exchange could eliminate the agency’s primary objection to the products by bringing cryptocurrency platforms under the SEC’s regulatory framework,” Seyffart and Balchunas wrote. “Once crypto exchanges are compliant, the SEC’s primary reason for denying spot Bitcoin ETFs would no longer be valid, likely clearing the way for approval,” they added. New note out on why we think spot bitcoin ETFs will get approved in early Summer 2023. The SEC is proposing to expand the definition of "exchange" which would bring crypto platforms under SEC reg. After that (which could take a year) look for ETFs to get green light via @JSeyff pic.twitter.com/TtFgFXrJ8h — Eric Balchunas (@EricBalchunas) March 24, 2022 Both the analysts expect the change to be finalized sometime between November 2023 and May of 2023 which could result in the regulator approving spot cryptocurrency ETFs. At the moment, SEC has only approved bitcoin ETFs based on bitcoin futures and has so far rejected all rule changes that would allow spot BTC ETFs to be listed on exchanges.

The post U.S. SEC Could Approve Spot Bitcoin ETFs By Next Year: Bloomberg appeared first on Cryptoknowmics-Crypto News and Media Platform.

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