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2022-09-20 20:50:09 Crypto app downloads fall 55% as bear market vibes hit the market

Due to the fact that the cryptocurrency market has been in the throes of a protracted bear market for the bulk of the last year, cryptocurrency applications have also witnessed a fall in interest, as seen by a considerable reduction in the number of app downloads. Although cash advance apps have grown 69% year-over-year (YoY), more than other fintech sectors, the performance of crypto and retail investing apps was trending downward. With money limited for plenty of people and the day-to-day costs increasing. It has also been claimed that individuals use “buy now, pay later” options for grocery shopping. The increase of new users, as seen by the above estimations about downloads from Apptopia.

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2022-09-19 23:00:39 Ethereum (ETH) & Solana (SOL) Become Most Staked Crypto Assets

The market capitalization of all staked crypto assets reaches almost $95 billion, with ETH and SOL leading the pack. Ethereum (ETH) takes the trophy for the most staked crypto asset following the successful Merge of the Beacon Chain consensus layer with the Ethereum execution layer on Sep. 15, 2022, data from StakingRewards.com shows. The network with the second-highest staking transaction market cap is Solana, with $12.7 billion. Hot on its heels is Cardano with over $11 billion, Binance Smart Chain with over $5 billion, and Avalanche with about $4.6 billion in locked assets. Rounding off the top ten blockchains are Polkadot, Cosmos Hub, Tron, Polygon, and Near Protocol.

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2022-09-18 22:30:22 Cardano’s Vasil Upgrade Is Ready for Take-Off: ‘It’s Been Initiated’, Says Hoskinson

In a September 18 broadcast, Cardano founder Charles Hoskinson revealed that the Vasil hard fork implementation is now in its final stage after the hard fork combinator request was accepted. Hoskinson continued that the automated process of implementing the Vasil upgrade has started, adding that “we all gonna sit back and watch the Vasil rocket take off. It’s in the air right now…There’s no going back now. It’s been initiated.”. While the upgrade is scheduled to go live on September 22, Hoskinson stated that some of the upgrade effects would only become much more visible by September 27 due to several technical reasons. Hoskinson did not reveal these reasons. The crypto community has highly anticipated the Cardano upgrade for several months.

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2022-09-17 21:50:08 Grayscale May Reward Shareholders With ETHPoW Cash Disbursal

The world’s largest digital asset manager said its Ethereum investors have rights to newly forked ETHPoW tokens. Grayscale – one of the world’s largest cryptocurrency asset managers – may be readying a cash-airdrop for holders of its Ethereum Trust and Digital Large Cap Fund. The cash grant represents the value of ETHPoW (ETHW) tokens that Grayscale investors. The filing declared Grayscale’s right to distribute the cash equivalent of ETHW tokens to its Ethereum product holders by September 26th. That said, the exact worth of such assets is unclear. ETHW launched merely hours after Ethereum’s Merge, which converted Ethereum’s consensus mechanism to proof of stake. The new chain was organized by a consortium of Ethereum’s old miners in order to preserve the proof of work mechanism that keeps them profitable.

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2022-09-16 20:20:09 Thai SEC Forbids Local Crypto Firms From Offering Staking and Lending Services

By enforcing the ban, Thailand’s SEC wants to ensure maximum security for local cryptocurrency participants. Thailand’s Securities and Exchange Commission (SEC) prohibited domestic cryptocurrency entities from providing staking and lending services to clients. The ban aims to protect traders and the public from risks related to such activities. According to a press release, Thailand’s SEC banned local cryptocurrency business operators from offering or supporting digital asset depository services such as staking and lending. The watchdog raised hopes that the move will ensure maximum protection for local investors and minimize the general public’s risks when interacting with the sector.

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2022-09-15 22:29:03 Ethereum founder: ‘Merge will reduce worldwide electricity consumption by 0.2%’

With the completion of the major upgrade to its software, the Ethereum (ETH) ecosystem is expected to become a lot greener, as guaranteed by its co-founder Vitalik Buterin and the non-profit Ethereum Foundation. Ethereum has stressed the importance of the Merge upgrade, which marks the network’s transition from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS). After the Merge, the total energy consumed by Ethereum to secure the network now amounts to nearly 0.01 TWh/yr. Prior to the Merge, the platform used about 112 TWh/yr, according to the organization’s data. Meanwhile, the ETH miners that were left with dwindling options after the upgrade – giving up mining and staking ETH instead or switching to other chains, are now turning en masse to alternatives such as Ravencoin (RVN), whose hash rate skyrocketed post-Merge. At press time, the decentralized finance (DeFi).

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2022-09-14 23:31:00 Google Cloud Partners With BNB Chain to Provide Web 3 Startup Infrastructure

The cloud computing giant is providing “accelerated access” to its services for BNB Chain developers. Google Cloud and BNB Chain are joining forces to accelerate the growth of web 3 startups. BNB chain developers can now leverage Google Cloud infrastructure to help scale their applications and access other forms of technical support. According to a press release from Binance, BNB Chain will now enable “accelerated access” to the Google for Startups Cloud Program. BNB Chain is a combination of the BNB Beacon Chain and BNB Smart Chain, and currently hosts over 1300 dapps. The program grants members Google Cloud credits for two years, usable for all Google Cloud services. Eligible startups can also connect with Google’s technical subject matter experts and startup success team for insights on data management, data analytics, artificial intelligence, and other topics.

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2022-09-13 23:05:08 Opera Crypto Browser Integrates MetaMask Ahead of Ethereum Merge

Opera Crypto Browser, a Web3-focused browser built to work with a variety of decentralized apps (dApps), now supports third-party wallets such as MetaMask. The upgrade, which the Oslo-based company describes as “one of the most significant updates since its genesis,” comes in the run-up to Ethereum’s transition from the proof-of-work. The upcoming merge is the most important technological update in the history of crypto that will move Ethereum from proof-of-work to proof-of-stake, thus making it more scalable, secure, sustainable, and ready to be used by the mainstream user,” Susie Batt, Crypto Ecosystem Lead at Opera, said in an announcement shared with Decrypt. According to Batt, Opera Crypto Browser “is the only browser truly ready for this shift and the only one offering web users all the tools they need to give Web3 a try in a safe environment.

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2022-09-12 22:10:08 Crypto Exchange WazirX Sees Assets Unfrozen Amid Indian Regulator’s Investigation

India’s Enforcement Directorate (ED) has unfrozen the accounts of crypto exchange WazirX, according to the exchange’s update. The exchange’s bank accounts were unfrozen following “active cooperation” with the ED via active anti-money laundering (AML) checks which blocked “suspicious accounts,” read today’s announcement. The exchange, one of India’s largest with a $2.9 million 24-hour trading volume, has had $8.14 million in assets frozen for more than a month. The financial watchdogs accused the exchange of facilitating money laundering “via purchase and transfer of virtual crypto assets.” The ED’s release also stated that 16 fintech companies used WazirX to direct crypto assets to “unknown foreign wallets.”.The financial regulator found during its investigation of the exchange.

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2022-09-11 23:20:09 Cardano Outperforms Current Proof of Stake Chains

A recent report takes a look at proof-of-stake chains: Cardano, Polkadot and Avalanche. The proof-of-stake consensus mechanism powers blockchains such as Cardano, Tezos, Polkadot and Avalanche and allows staking and the creation of validator nodes. Avalanche has 22,890 individual staked wallets and a staking ratio of 64.9%, which is relatively higher compared to Polkadot's 52.4%. Public blockchains have been around for a while, yet none of them has been able to crack the puzzle of the blockchain trilemma so far. The blockchain trilemma refers to the problem in which a public blockchain will not be able to optimize for all three qualities: security, scalability and decentralization. Cardano's network is highly distributed and decentralized, which reduces its vulnerability to DDoS attacks.

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