May 2022 - CryptoCurrencyWire

TuesdayMay 31, 2022 1:30 pm

Banks Start Seeing Blockchain as Source of High-Quality Assets

BNP Paribas, a French bank, has joined a platform owned by J.P. Morgan in a bid to start leveraging digital tokens while undertaking short-term trading activities in the markets of fixed-term financial assets. This comes at a time when major banks are ramping up efforts to modernize the sector by adopting blockchain technology. The blockchain platform, dubbed Onyx Digital Assets, has so far seen deals worth $300 billion completed since December 2020 when the platform was launched. This platform facilitates repo (or repurchase) deals in which investors are allowed to borrow high-quality financial assets for a day or so. Repo…

FridayMay 27, 2022 2:00 pm

Three Concerns Slowing the Uptake of Blockchain Technology

Blockchain technology has been touted as the biggest thing to happen since the invention of the internet. The technology has potential to revolutionize different sectors, including healthcare, finance, education, mining and others. However, the adoption of this technology has been significantly slower than its proponents would wish, and there are a number of reasons to explain this slow process. We explore a few in the discussion below. High upfront costs The cost of establishing a blockchain system is steep to say the least, and only the most committed of institutional entities have the deep pockets to finance such an undertaking.…

FridayMay 27, 2022 12:45 pm

Wild West Crypto Show Features Crypto Crate, Wirex Wallet and More

Conservative alt-coin podcast hosts Drew Taylor and Brent Bates recently welcomed guests and the audience to another episode of their wildly popular Wild West Crypto Show. Special guests to the program included Michelle Robinson, founder of Crypto Crate, which offers premium crypto-crafted and curated gifting solutions. CryptoCurrencyWire’s Jonathan Keim also joined the show to shine the spotlight on the three best stories in cryptocurrencies for the week. Among these, Keim discussed Wirex Wallet’s recent launch of NFT functionality and new payment methods. “This wallet is known for being the first mass-market, non-custodial wallet, and, in this case, it removes the…

FridayMay 27, 2022 12:00 pm

Crypto Enthusiasts to Gather in Austin, TX for Four-Day 2022 Consensus Festival, Featuring Everything from Blockchain to Web3

Hosted by CoinDesk, the 2022 Consensus festival is slated for June 9-12, 2022, in Austin, Texas The festival features 15,000+ attendees, 400+ speakers, and 250+ event sponsors, catering to all sides of blockchain, crypto, Web3, NFTs and the Metaverse Web3 is the future of the internet – creating a decentralized technology that removes the control from the big tech companies and places it back in the hands of the users Venture Capitalist firm Andreessen Horowitz announced a $4.5 billion fund aimed at Web3; with one third of the funds dedicated exclusively to seed deals Coinbase has become the first crypto-based…

ThursdayMay 26, 2022 10:30 am

Despite a Volatile Bitcoin Market, LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Scaling Lightning Network and Increasing Channel Capacities

LQwD released its platform as a service offering in November 2021, also releasing its first node on the Lightning Network – US-West Since then, nine additional nodes have been released worldwide: Ireland, India, Germany, Indonesia, Italy, Singapore, Sweeden, England, and France – with more likely to follow Despite volatility in Bitcoin, the Lightning Network continues to grow, with most recent reports indicating that the Network’s capacity is over 3,539 BTC Users can send payments quickly and with lower fees when utilizing the Lightning Network and PaaS solutions like LQwD One of the most dependable characteristics of the cryptocurrency market is…

ThursdayMay 26, 2022 9:45 am

Despite Falling Numbers, Bitcoin Investors Hopeful Crypto Will Bounce Back in the Future; Continual Changes in Technology Keep the Volatile Industry Moving Forward

Bitcoin has seen an overall decrease of 57% since November 2021 (an all-time high) and a YTD decrease of 37% Investor Mark Cuban tweeted that he believes cryptocurrency is in a lull period, much like the early internet, and expects the industry to bounce back – especially for those utilizing smart contracts for business productivity and profitability Political and economically driven, green energy initiatives for mining Bitcoin and other cryptocurrencies are rising – companies like Canaan Inc. have already begun implementing the necessary changes to strive for carbon-free emissions With blockchain fees high, Robinhood has created a new Web 3.0…

WednesdayMay 25, 2022 1:00 pm

How Gen Zers Are Hooked on NFTs and Cryptocurrencies

Human beings have always been attracted by the possibility of making a quick buck, and the volatility of cryptocurrencies and NFTs is too alluring for members of Generation Z. Gen Z refers to individuals born in the mid ‘90s to the early 2000s. As the years in which these people were born suggest, Gen Z grew up at a time when the proliferation of technology was at its peak. This means that these kids grew up playing video games and meeting their friends virtually. It seems natural, therefore, that they would take to crytocurrency and NFT trading in a big…

WednesdayMay 25, 2022 12:00 pm

What Ethereum 2.0 Signifies for the Ethereum Blockchain, Investors, and Established Miners such as BIT Mining Ltd. (NYSE: BTCM)

Ethereum 2.0 is billed as the single-largest change in the history of the blockchain The upgrade, set to be rolled out in phases, will involve migration from the current proof-of-work system to the proof-of-stake protocol ETH 2.0 will also cap the supply of Ether, the network’s native token, potentially triggering price increases via scarcity BIT Mining Ltd. believes the proof-of-work and proof-of-stake systems will coexist The Ethereum blockchain has long been a victim of its own success. Having lured software developers who built decentralized applications on top of the network, Ethereum has been accounting for the vast majority of total…

TuesdayMay 24, 2022 11:15 am

Bit Digital Inc. (NASDAQ: BTBT) Remains Optimistic Despite Recent Cryptocurrency Price Fluctuations

The blockchain technology industry is projected to grow to $450 billion by 2028, up from $3.67 billion in 2020, representing a CAGR of 82.4% The cryptocurrency market, which was valued at $1.5 billion in 2021, is projected to grow to $2.3 billion by 2028, representing a CAGR of 6.9% Bit Digital looks to tap into these two markets through strategic investments and technology The company is confident that the value of cryptocurrency will continue to rise, despite the recent drastic price fluctuations Over the past few weeks, the price of many cryptocurrencies have reduced by more than 50%. Industry experts…

TuesdayMay 24, 2022 9:45 am

Lightning Network Gains as More Transactions are Processed; LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Among Companies with Substantial BTC Invested in Network

The Lightning Network is being incorporated by more companies, including the likes of Meta, which is currently striving to develop its own stablecoin offering but is receiving backlash from the government CoinCorner has released the first contactless payment card for the Lightning Network; the card works like Visa and other fiat currency cards but utilizes Bitcoin and the Lightning Network for fast and low fee transactions LQwD has ten nodes on the Lightning Network, each growing in BTC capacity and value – the company anticipates continuing to strive toward scalability of BTC The Bitcoin Lightning Network, a layer 2 payment…