How A Crypto Bank Card Links Digital and Traditional Financial Systems
Cryptopolitan (RSS)
Cryptocurrencies have transformed the financial landscape, offering individuals a decentralized and secure alternative to traditional forms of money. As the adoption of cryptocurrencies continues to expand, so does the need for practical methods to access and utilize these digital assets in everyday life. This is where crypto bank cards come into play, changing how we interact with cryptocurrencies and bridging the gap between digital and traditional financial systems.
What is a Crypto Bank Card?
A crypto bank card is a payment card that allows you to spend your cryptocurrencies at any merchant that accepts traditional payment methods. It bridges your digital assets and the conventional financial system, providing a convenient and familiar payment experience. With a crypto bank card, you can seamlessly convert your chosen cryptocurrency into fiat currency at the point of purchase, allowing you to enjoy the benefits of cryptocurrencies without requiring the merchant to accept them directly.
Crypto Vs. Traditional Cards
While crypto bank cards may resemble traditional debit or credit cards in appearance, they operate on a fundamentally different principle. Standard cards are typically linked to a bank account, whereas crypto bank cards are connected to one or more cryptocurrency wallets. When you purchase using a crypto bank card, the card provider facilitates the instant conversion of your chosen cryptocurrency into the merchant’s preferred fiat currency. This conversion happens in real time, ensuring a smooth transaction experience.
How Crypto Bank Cards Work
Crypto bank cards operate on a unique infrastructure that combines the world of cryptocurrencies with traditional financial systems. The key components and processes that make crypto bank cards function seamlessly include:
Card Integration with Cryptocurrency Wallets
Most card providers offer their wallets or integrate with popular cryptocurrency wallets. During the card setup process, you connect your card to a specific wallet address or accounts associated with the cryptocurrencies you wish to spend. This integration allows the card to access and convert your digital assets into fiat currency in real time.
Conversion Process
The conversion process occurs behind the scenes when you purchase using your crypto bank card. The card provider instantly calculates the value of the transaction in the merchant’s preferred fiat currency and determines the equivalent amount of cryptocurrency needed for the purchase. This conversion occurs based on the prevailing exchange rates at the time of the transaction. The fiat currency is then transferred to the merchant, while the corresponding amount of cryptocurrency is debited from your linked wallet.
Real-Time Exchange Rates
The exchange rates in crypto bank card transactions come from reputable oracles or exchanges. These rates fluctuate in real time due to the dynamic nature of cryptocurrency markets. It’s important to note that fees vary slightly between card providers, so comparing rates and fees is advisable before selecting a particular card. Keeping an eye on exchange rate volatility ensures transparency and allows you to make informed decisions when using your crypto bank card.
Transaction Security and Authentication
The cards prioritize security to protect your funds and personal information. Most cards employ robust security measures, including encryption technology, multi-factor authentication, and fraud detection systems. These measures safeguard your transactions, ensuring only authorized users can access and use the card. Some providers also offer additional security features, such as tran...
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Cryptopolitan (RSS)
Cryptocurrencies have transformed the financial landscape, offering individuals a decentralized and secure alternative to traditional forms of money. As the adoption of cryptocurrencies continues to expand, so does the need for practical methods to access and utilize these digital assets in everyday life. This is where crypto bank cards come into play, changing how we interact with cryptocurrencies and bridging the gap between digital and traditional financial systems.
What is a Crypto Bank Card?
A crypto bank card is a payment card that allows you to spend your cryptocurrencies at any merchant that accepts traditional payment methods. It bridges your digital assets and the conventional financial system, providing a convenient and familiar payment experience. With a crypto bank card, you can seamlessly convert your chosen cryptocurrency into fiat currency at the point of purchase, allowing you to enjoy the benefits of cryptocurrencies without requiring the merchant to accept them directly.
Crypto Vs. Traditional Cards
While crypto bank cards may resemble traditional debit or credit cards in appearance, they operate on a fundamentally different principle. Standard cards are typically linked to a bank account, whereas crypto bank cards are connected to one or more cryptocurrency wallets. When you purchase using a crypto bank card, the card provider facilitates the instant conversion of your chosen cryptocurrency into the merchant’s preferred fiat currency. This conversion happens in real time, ensuring a smooth transaction experience.
How Crypto Bank Cards Work
Crypto bank cards operate on a unique infrastructure that combines the world of cryptocurrencies with traditional financial systems. The key components and processes that make crypto bank cards function seamlessly include:
Card Integration with Cryptocurrency Wallets
Most card providers offer their wallets or integrate with popular cryptocurrency wallets. During the card setup process, you connect your card to a specific wallet address or accounts associated with the cryptocurrencies you wish to spend. This integration allows the card to access and convert your digital assets into fiat currency in real time.
Conversion Process
The conversion process occurs behind the scenes when you purchase using your crypto bank card. The card provider instantly calculates the value of the transaction in the merchant’s preferred fiat currency and determines the equivalent amount of cryptocurrency needed for the purchase. This conversion occurs based on the prevailing exchange rates at the time of the transaction. The fiat currency is then transferred to the merchant, while the corresponding amount of cryptocurrency is debited from your linked wallet.
Real-Time Exchange Rates
The exchange rates in crypto bank card transactions come from reputable oracles or exchanges. These rates fluctuate in real time due to the dynamic nature of cryptocurrency markets. It’s important to note that fees vary slightly between card providers, so comparing rates and fees is advisable before selecting a particular card. Keeping an eye on exchange rate volatility ensures transparency and allows you to make informed decisions when using your crypto bank card.
Transaction Security and Authentication
The cards prioritize security to protect your funds and personal information. Most cards employ robust security measures, including encryption technology, multi-factor authentication, and fraud detection systems. These measures safeguard your transactions, ensuring only authorized users can access and use the card. Some providers also offer additional security features, such as tran...
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Exploring Smart DeFi Options You Can Try Today With Your Crypto
Cryptopolitan (RSS)
Decentralized Finance, or DeFi, has emerged as a transformative force in finance. By leveraging blockchain technology, DeFi offers a range of innovative solutions that challenge the traditional financial system. As we stand on the cusp of technological advancements, it is crucial to understand the possibilities and achievements that DeFi options bring to the table.
Protecting Against Volatility: Stablecoins
In the ever-fluctuating world of cryptocurrencies, volatility has been one of the significant challenges. Enter stablecoins, a remarkable DeFi ecosystem innovation that addresses this issue. Stablecoins have become one of the most popular DeFi use cases, providing users with a more accessible, efficient, and stable alternative for managing and transferring value.
Stablecoins are cryptocurrencies that maintain a stable or fixed value by being pegged to a specific asset, typically the US dollar. Stablecoins aim to reduce the price volatility commonly associated with other cryptocurrencies by pegging their value. This stability makes them more attractive for everyday transactions and a reliable store of value.
The benefits of stablecoins extend beyond mere price stability. They offer a range of advantages that make them a valuable tool within the DeFi ecosystem. These include:
Provide a standard unit of account, allowing users to transact and track their finances without the volatility inherent in other cryptocurrencies. This stability enables greater confidence and predictability in financial transactions.
Offer an alternative for individuals and businesses in regions with unstable or inflationary fiat currencies. Using stablecoins, they can mitigate the risks associated with their local currencies and access a more stable value.
Facilitate faster and more cost-effective transactions compared to traditional financial systems. The decentralized nature of stablecoin transactions eliminates the need for intermediaries, such as banks, thereby reducing fees and increasing transaction speed.
Notable examples of stablecoins include Tether (USDT), USD Coin (USDC), and Dai (DAI), each with its unique approach to maintaining stability and widespread adoption. These stablecoins have gained traction across various DeFi platforms, bridging the traditional financial world and the decentralized future of finance.
Empowering Decentralized Governance: DAOs
DAOs are online platforms designed to enable community-based decision-making and governance of projects, free from centralized control. They empower individuals to shape the project’s future and collectively make crucial decisions.
The core principle behind DAOs is that power and decision-making authority should be distributed among the community members rather than concentrated in the hands of a few. By utilizing blockchain technology and smart contracts, DAOs provide transparency, accountability, and autonomy in decision-making processes.
The operation of DAOs typically involves the issuance of governance tokens. These tokens grant holders the right to vote on the community’s proposals and decisions. The voting power is proportional to the number of tokens held, giving participants a voice based on their stake in the project.
It is important to note that DAOs are still evolving and have challenges. These challenges include ensuring effective decision-making processes, preventing governance token concentration, and managing conflicts of interest. However, the potential for DAOs to reshape governance structures and foster community-driven decision-making is undeniable.
Revolutionizing Trading: Decentralized Exchanges (DEXs)
The traditional financial system has long relied on centralized exchanges to facilitate the trading of assets. However, the rise of decentralized finance has ushered in a new era of tra...
View original post
Cryptopolitan (RSS)
Decentralized Finance, or DeFi, has emerged as a transformative force in finance. By leveraging blockchain technology, DeFi offers a range of innovative solutions that challenge the traditional financial system. As we stand on the cusp of technological advancements, it is crucial to understand the possibilities and achievements that DeFi options bring to the table.
Protecting Against Volatility: Stablecoins
In the ever-fluctuating world of cryptocurrencies, volatility has been one of the significant challenges. Enter stablecoins, a remarkable DeFi ecosystem innovation that addresses this issue. Stablecoins have become one of the most popular DeFi use cases, providing users with a more accessible, efficient, and stable alternative for managing and transferring value.
Stablecoins are cryptocurrencies that maintain a stable or fixed value by being pegged to a specific asset, typically the US dollar. Stablecoins aim to reduce the price volatility commonly associated with other cryptocurrencies by pegging their value. This stability makes them more attractive for everyday transactions and a reliable store of value.
The benefits of stablecoins extend beyond mere price stability. They offer a range of advantages that make them a valuable tool within the DeFi ecosystem. These include:
Provide a standard unit of account, allowing users to transact and track their finances without the volatility inherent in other cryptocurrencies. This stability enables greater confidence and predictability in financial transactions.
Offer an alternative for individuals and businesses in regions with unstable or inflationary fiat currencies. Using stablecoins, they can mitigate the risks associated with their local currencies and access a more stable value.
Facilitate faster and more cost-effective transactions compared to traditional financial systems. The decentralized nature of stablecoin transactions eliminates the need for intermediaries, such as banks, thereby reducing fees and increasing transaction speed.
Notable examples of stablecoins include Tether (USDT), USD Coin (USDC), and Dai (DAI), each with its unique approach to maintaining stability and widespread adoption. These stablecoins have gained traction across various DeFi platforms, bridging the traditional financial world and the decentralized future of finance.
Empowering Decentralized Governance: DAOs
DAOs are online platforms designed to enable community-based decision-making and governance of projects, free from centralized control. They empower individuals to shape the project’s future and collectively make crucial decisions.
The core principle behind DAOs is that power and decision-making authority should be distributed among the community members rather than concentrated in the hands of a few. By utilizing blockchain technology and smart contracts, DAOs provide transparency, accountability, and autonomy in decision-making processes.
The operation of DAOs typically involves the issuance of governance tokens. These tokens grant holders the right to vote on the community’s proposals and decisions. The voting power is proportional to the number of tokens held, giving participants a voice based on their stake in the project.
It is important to note that DAOs are still evolving and have challenges. These challenges include ensuring effective decision-making processes, preventing governance token concentration, and managing conflicts of interest. However, the potential for DAOs to reshape governance structures and foster community-driven decision-making is undeniable.
Revolutionizing Trading: Decentralized Exchanges (DEXs)
The traditional financial system has long relied on centralized exchanges to facilitate the trading of assets. However, the rise of decentralized finance has ushered in a new era of tra...
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How to Make the Best Use of Top 10 Arbitrum Analytic Tools
Cryptopolitan (RSS)
Arbitrum alleviates the scalability and high transaction fees plaguing Ethereum while maintaining compatibility with the Ethereum Virtual Machine (EVM) and existing smart contracts. By bundling transactions and submitting summaries to the Ethereum mainnet, Arbitrum analytic tools ensure significant transaction speed and cost efficiency. However, utilizing dedicated analytic tools becomes imperative in understanding the trends, transactions, and market dynamics surrounding these digital assets.
An analytic tool is a software or platform designed to collect, process, and analyze data to provide insights and valuable information. These tools examine various data types, such as financial, market, user, or network data, and extract meaningful patterns, trends, and statistics. Analytic tools often employ data visualization, statistical analysis, and machine learning algorithms to help users understand and interpret complex data sets. They are crucial in decision-making, strategic planning, and performance evaluation across industries and domains.
Here are the top 10 Arbitrum analytics tools that support the network:
Nansen Portfolio
Nansen Portfolio is a platform developed by Nansen, a company specializing in blockchain analytics and insights. It provides users, particularly crypto investors, a personal DeFi dashboard that offers critical data and aggregated insights for their on-chain holdings and activities.
With Nansen Portfolio, ARB investors can create multiple portfolio dashboards by connecting cross-chain wallets. This feature lets them instantly access essential data and gain valuable insights into their on-chain holdings and activities. Users can track market movements, assess their exposure, view performance over time, and leverage Nansen’s analytics tools for deeper exploration. The platform offers comprehensive coverage of 476 protocols and 42 chains, including popular ones like Ethereum, Solana, and Cosmos, with ongoing additions to the supported chains.
CoinStats
CoinStats is a comprehensive platform designed to assist users in managing their cryptocurrency and DeFi assets. It offers a range of features and functionalities to track, analyze, and oversee crypto portfolios.
One of the primary features of CoinStats is its centralized dashboard, which allows users to monitor their crypto holdings. It supports popular cryptocurrency platforms like Binance and Coinbase, among others, enabling users to stay informed about their investments.
CoinStats also provides a dedicated DeFi wallet that allows users to manage their crypto and DeFi assets in one place. Users can perform various actions such as buying, selling, swapping, tracking, and earning on their crypto assets. The platform supports swaps on chains, including Arbitrum, Binance Smart Chain (BSC), Ethereum, and Polygon. Additionally, users can sync their bank cards for fiat-to-crypto purchases.
CoinStats also offers a crypto profit calculator. The calculator helps users calculate gains and losses, allowing them to evaluate the profitability of their crypto investments. The platform emphasizes security and implements advanced measures, including military-grade encryption, to protect user data and assets.
NFTScan
NFTScan is a website that serves as an NFT explorer, allowing Arbitrum users to explore and track NFTs on various blockchain networks. It provides tools and features to analyze NFT trading data, collections, sales, volume, and other relevant information for blockchains such as Ethereum, Polygon, Solana, etc.
As an NFT explorer, NFTScan.com enables users to access valuable insights into the NFT market. They can explore NFT marketplaces, review recent transactions, and monitor live minting activities. The platform offers a comprehensive resource for individuals interested in NFT, providin...
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Cryptopolitan (RSS)
Arbitrum alleviates the scalability and high transaction fees plaguing Ethereum while maintaining compatibility with the Ethereum Virtual Machine (EVM) and existing smart contracts. By bundling transactions and submitting summaries to the Ethereum mainnet, Arbitrum analytic tools ensure significant transaction speed and cost efficiency. However, utilizing dedicated analytic tools becomes imperative in understanding the trends, transactions, and market dynamics surrounding these digital assets.
An analytic tool is a software or platform designed to collect, process, and analyze data to provide insights and valuable information. These tools examine various data types, such as financial, market, user, or network data, and extract meaningful patterns, trends, and statistics. Analytic tools often employ data visualization, statistical analysis, and machine learning algorithms to help users understand and interpret complex data sets. They are crucial in decision-making, strategic planning, and performance evaluation across industries and domains.
Here are the top 10 Arbitrum analytics tools that support the network:
Nansen Portfolio
Nansen Portfolio is a platform developed by Nansen, a company specializing in blockchain analytics and insights. It provides users, particularly crypto investors, a personal DeFi dashboard that offers critical data and aggregated insights for their on-chain holdings and activities.
With Nansen Portfolio, ARB investors can create multiple portfolio dashboards by connecting cross-chain wallets. This feature lets them instantly access essential data and gain valuable insights into their on-chain holdings and activities. Users can track market movements, assess their exposure, view performance over time, and leverage Nansen’s analytics tools for deeper exploration. The platform offers comprehensive coverage of 476 protocols and 42 chains, including popular ones like Ethereum, Solana, and Cosmos, with ongoing additions to the supported chains.
CoinStats
CoinStats is a comprehensive platform designed to assist users in managing their cryptocurrency and DeFi assets. It offers a range of features and functionalities to track, analyze, and oversee crypto portfolios.
One of the primary features of CoinStats is its centralized dashboard, which allows users to monitor their crypto holdings. It supports popular cryptocurrency platforms like Binance and Coinbase, among others, enabling users to stay informed about their investments.
CoinStats also provides a dedicated DeFi wallet that allows users to manage their crypto and DeFi assets in one place. Users can perform various actions such as buying, selling, swapping, tracking, and earning on their crypto assets. The platform supports swaps on chains, including Arbitrum, Binance Smart Chain (BSC), Ethereum, and Polygon. Additionally, users can sync their bank cards for fiat-to-crypto purchases.
CoinStats also offers a crypto profit calculator. The calculator helps users calculate gains and losses, allowing them to evaluate the profitability of their crypto investments. The platform emphasizes security and implements advanced measures, including military-grade encryption, to protect user data and assets.
NFTScan
NFTScan is a website that serves as an NFT explorer, allowing Arbitrum users to explore and track NFTs on various blockchain networks. It provides tools and features to analyze NFT trading data, collections, sales, volume, and other relevant information for blockchains such as Ethereum, Polygon, Solana, etc.
As an NFT explorer, NFTScan.com enables users to access valuable insights into the NFT market. They can explore NFT marketplaces, review recent transactions, and monitor live minting activities. The platform offers a comprehensive resource for individuals interested in NFT, providin...
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Exploring the Features of Top 10 NFT APIs on Polygon
Cryptopolitan (RSS)
The emergence of NFTs transforms how we perceive digital ownership, and the Polygon network has gained significant popularity as a blockchain platform for NFT-related endeavors. Polygon provides a unique ecosystem for NFT development and transactions, characterized by scalability, affordability, and a thriving community. To enhance the seamless integration and advanced capabilities of NFTs on the Polygon network, a wide range of NFT APIs have been developed, empowering developers with powerful tools and features.
Here are the top 10 NFT APIs on Polygon. Note that some of these are multi-chain, i.e., support other blockchains.
Ownerfy API
Ownerfy API provides a comprehensive set of features and functionalities to enable developers to integrate NFT capabilities into their applications, websites, or platforms seamlessly. With the Ownerfy API, developers can leverage various functionalities such as wallet creation, direct minting to customer wallets, QR code generation, NFT metadata updates, smart contract deployment, and bulk NFT transfers.
One of the significant advantages of the Ownerfy API is that it allows developers to incorporate NFT capabilities without requiring their customers to have prior knowledge of blockchain or crypto. The entire process can be completely invisible to the customer, providing a seamless user experience within the developer’s application or website.
The Ownerfy API handles all the complexities of cryptocurrency under the hood, eliminating the need for developers to manage blockchain backend infrastructure or hire blockchain developers. It manages transactions efficiently, retrying them as necessary to account for adverse or unreliable blockchain conditions.
Alchemy NFT API
The Alchemy NFT API, provided by Alchemy, is a valuable tool for Polygon developers looking to incorporate NFTs into their applications. This API allows easy access to data related to NFTs on various blockchains, providing detailed information such as metadata, ownership, and transaction history. It offers advanced features like batch queries and real-time event subscriptions, enabling developers to build high-performance and reliable NFT-based applications.
With the Alchemy NFT API, developers can fetch and display NFTs for their users, making it suitable for creating NFT projects like digital art marketplaces or collectibles platforms. The API supports actions such as resolving wallet addresses based on ENS domains, obtaining a list of NFT holders for a specific collection, retrieving all NFTs owned by an address, checking the owner of an NFT, and filtering out spam NFTs.
To start with the Alchemy NFT API, their quickstart guide in the official documentation explains the process of setting up the repository, choosing a package manager, selecting a suitable library (such as Alchemy SDK, Javascript Fetch, or Javascript Axios), and installing the necessary dependencies. It provides step-by-step instructions to initialize projects, install the Alchemy SDK, and execute sample code for interacting with the NFT API.
Transpose API
The Transpose API is a tool that provides developers with easy and reliable access to real-time NFT data. It offers a range of endpoints and features that allow developers to retrieve comprehensive information about cryptocurrencies and blockchain transactions.
Developers can use REST APIs or perform low-latency SQL queries to retrieve and manipulate data based on their requirements. The API supports pagination and provides over 50 endpoints, making it suitable for various blockchain use cases. It also offers a dedicated infrastructure for demanding workloads, ensuring high performance and availability.
Developers can also use the API to analyze financial activity, meet tax and compliance requirements, track NFTs, calcula...
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Cryptopolitan (RSS)
The emergence of NFTs transforms how we perceive digital ownership, and the Polygon network has gained significant popularity as a blockchain platform for NFT-related endeavors. Polygon provides a unique ecosystem for NFT development and transactions, characterized by scalability, affordability, and a thriving community. To enhance the seamless integration and advanced capabilities of NFTs on the Polygon network, a wide range of NFT APIs have been developed, empowering developers with powerful tools and features.
Here are the top 10 NFT APIs on Polygon. Note that some of these are multi-chain, i.e., support other blockchains.
Ownerfy API
Ownerfy API provides a comprehensive set of features and functionalities to enable developers to integrate NFT capabilities into their applications, websites, or platforms seamlessly. With the Ownerfy API, developers can leverage various functionalities such as wallet creation, direct minting to customer wallets, QR code generation, NFT metadata updates, smart contract deployment, and bulk NFT transfers.
One of the significant advantages of the Ownerfy API is that it allows developers to incorporate NFT capabilities without requiring their customers to have prior knowledge of blockchain or crypto. The entire process can be completely invisible to the customer, providing a seamless user experience within the developer’s application or website.
The Ownerfy API handles all the complexities of cryptocurrency under the hood, eliminating the need for developers to manage blockchain backend infrastructure or hire blockchain developers. It manages transactions efficiently, retrying them as necessary to account for adverse or unreliable blockchain conditions.
Alchemy NFT API
The Alchemy NFT API, provided by Alchemy, is a valuable tool for Polygon developers looking to incorporate NFTs into their applications. This API allows easy access to data related to NFTs on various blockchains, providing detailed information such as metadata, ownership, and transaction history. It offers advanced features like batch queries and real-time event subscriptions, enabling developers to build high-performance and reliable NFT-based applications.
With the Alchemy NFT API, developers can fetch and display NFTs for their users, making it suitable for creating NFT projects like digital art marketplaces or collectibles platforms. The API supports actions such as resolving wallet addresses based on ENS domains, obtaining a list of NFT holders for a specific collection, retrieving all NFTs owned by an address, checking the owner of an NFT, and filtering out spam NFTs.
To start with the Alchemy NFT API, their quickstart guide in the official documentation explains the process of setting up the repository, choosing a package manager, selecting a suitable library (such as Alchemy SDK, Javascript Fetch, or Javascript Axios), and installing the necessary dependencies. It provides step-by-step instructions to initialize projects, install the Alchemy SDK, and execute sample code for interacting with the NFT API.
Transpose API
The Transpose API is a tool that provides developers with easy and reliable access to real-time NFT data. It offers a range of endpoints and features that allow developers to retrieve comprehensive information about cryptocurrencies and blockchain transactions.
Developers can use REST APIs or perform low-latency SQL queries to retrieve and manipulate data based on their requirements. The API supports pagination and provides over 50 endpoints, making it suitable for various blockchain use cases. It also offers a dedicated infrastructure for demanding workloads, ensuring high performance and availability.
Developers can also use the API to analyze financial activity, meet tax and compliance requirements, track NFTs, calcula...
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Former Crypto Fugitive Do Kwon To Remain Jailed For 6 More Months: Report
CoinCu News (RSS)
Key Points:
Do Kwon and Han Chang-Joon will remain in prison for 6 more months as judges consider extradition requests from South Korean and US authorities.
They are accused of defrauding investors in connection with the $60 billion collapse of the Terra blockchain ecosystem in May 2022 and falsifying documents in Montenegro....
View original post
CoinCu News (RSS)
Key Points:
Do Kwon and Han Chang-Joon will remain in prison for 6 more months as judges consider extradition requests from South Korean and US authorities.
They are accused of defrauding investors in connection with the $60 billion collapse of the Terra blockchain ecosystem in May 2022 and falsifying documents in Montenegro....
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Crypto lender Abra has been insolvent since March, says Texas regulator
Cointelegraph.com News (RSS)
Abra and its CEO William Barhydt have been issued with an emergency cease and desist order.
Cointelegraph.com News (RSS)
Abra and its CEO William Barhydt have been issued with an emergency cease and desist order.
U.S. Court Will Rule on Terraform Labs' Push to Dismiss SEC Lawsuit Within a Month
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
Was UST a security because it was designed for practical uses rather than as an investment?
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
Was UST a security because it was designed for practical uses rather than as an investment?
OKCoin Accused by FDIC of Making False Claims About Customer Protections
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
OKCoin must scrub misleading statements that suggest its customers’ accounts are protected by the U.S. Federal Deposit Insurance Corp. (FDIC), the U.S. banking regulator ordered late Thursday, complaining the company is making false claims.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
OKCoin must scrub misleading statements that suggest its customers’ accounts are protected by the U.S. Federal Deposit Insurance Corp. (FDIC), the U.S. banking regulator ordered late Thursday, complaining the company is making false claims.
How to Comparatively Choose and Deploy A BRC-20 Token?
Cryptopolitan (RSS)
Cryptocurrencies have revolutionized the financial landscape, and among the various digital assets that have emerged, token standards have played a crucial role in facilitating value creation and transfer. One such standard is the BRC-20 (Bitcoin Request for Comment 20) token, which operates on the Bitcoin blockchain. This Cryptopolitan guide will explore the concept of BRC-20 tokens and their deployment, briefly comparing them to the widely known ERC-20 token standard on the Ethereum network.
Understanding BRC-20 Tokens
The creation of Bitcoin NFTs called Ordinals and BRC20 tokens was made possible by the Taproot upgrade to the Bitcoin network in 2021. This upgrade increased privacy, security, and scalability and allowed more data to be attached to Bitcoin, making it possible to attach images and create Ordinals. While attaching data to Bitcoin has always been possible through technical loopholes, the amount of data you could attach was limited. The Taproot upgrade allows users to store up to 4 Mbs of data, opening up the possibility of attaching other information.
The creator of Ordinal Theory, Casey Rodarmor, designed the first ordinal client to use Taproot to make Inscriptions. BRC-20 tokens, an experimental token standard, were developed following the launch of the Ordinals Protocol.
The first BRC-20 token to be generated was called “ordi.” To enable BRC-20 tokens, bitcoin wallets immediately adopted the technology. In the following months, many more BRC-20 tokens, many meme tokens, were released. Some BRC-20 tokens have seen stratospheric price jumps and amassed substantial market caps as of May 2023.
How does Bitcoin Ordinals work?
The Ordinals protocol enables assigning a serial number to each satoshi. This means that every satoshi within the Bitcoin network can be identified uniquely.
These ordinals facilitate the tracking of satoshis throughout transactions. By appending supplementary data or metadata to a satoshi, such as artwork, collectibles, or virtual goods, users can generate distinctive digital assets tied to specific satoshis.
Bitcoin ordinals, known as “Bitcoin NFTs,” differ from conventional NFTs regarding their underlying infrastructure. While most NFTs are linked to blockchain platforms like Ethereum, Bitcoin ordinals leverage the Bitcoin blockchain for their creation and storage. The Ordinals protocol introduces a distinct approach to representing and monitoring unique digital assets on the Bitcoin network.
BRC-20 tokens on the Ordinal Protocol
BRC-20 tokens were developed as an experimental token standard to facilitate the creation and transfer of fungible tokens on the Bitcoin network, similar to the ERC-20 token standard used on Ethereum and other EVM-based blockchains.
The functioning of BRC-20 tokens involves using ordinal inscriptions on satoshis, the smallest units of Bitcoin. Through Bitcoin ordinals, each satoshi is assigned a unique number and can be identified within the Bitcoin network. JSON inscriptions are attached to these satoshis, defining the core features and characteristics of the BRC-20 tokens. This process is similar to smart contracts and allows for creating and managing BRC-20 tokens. While Ordinals are used to create NFTs by tagging individual satoshis, BRC-20 tokens involve minting satoshis to hold information about an entire collection of tokens.
BRC-20 tokens possess fungibility, meaning each token holds the same value and can be freely exchanged or transferred like any other cryptocurrency. They can be spent or transferred between users on the Bitcoin network. While BRC-20 tokens and ERC-20 tokens share similarities in operating on a parent blockchain network, they differ because of the distinctive infrastructu...
View original post
Cryptopolitan (RSS)
Cryptocurrencies have revolutionized the financial landscape, and among the various digital assets that have emerged, token standards have played a crucial role in facilitating value creation and transfer. One such standard is the BRC-20 (Bitcoin Request for Comment 20) token, which operates on the Bitcoin blockchain. This Cryptopolitan guide will explore the concept of BRC-20 tokens and their deployment, briefly comparing them to the widely known ERC-20 token standard on the Ethereum network.
Understanding BRC-20 Tokens
The creation of Bitcoin NFTs called Ordinals and BRC20 tokens was made possible by the Taproot upgrade to the Bitcoin network in 2021. This upgrade increased privacy, security, and scalability and allowed more data to be attached to Bitcoin, making it possible to attach images and create Ordinals. While attaching data to Bitcoin has always been possible through technical loopholes, the amount of data you could attach was limited. The Taproot upgrade allows users to store up to 4 Mbs of data, opening up the possibility of attaching other information.
The creator of Ordinal Theory, Casey Rodarmor, designed the first ordinal client to use Taproot to make Inscriptions. BRC-20 tokens, an experimental token standard, were developed following the launch of the Ordinals Protocol.
The first BRC-20 token to be generated was called “ordi.” To enable BRC-20 tokens, bitcoin wallets immediately adopted the technology. In the following months, many more BRC-20 tokens, many meme tokens, were released. Some BRC-20 tokens have seen stratospheric price jumps and amassed substantial market caps as of May 2023.
How does Bitcoin Ordinals work?
The Ordinals protocol enables assigning a serial number to each satoshi. This means that every satoshi within the Bitcoin network can be identified uniquely.
These ordinals facilitate the tracking of satoshis throughout transactions. By appending supplementary data or metadata to a satoshi, such as artwork, collectibles, or virtual goods, users can generate distinctive digital assets tied to specific satoshis.
Bitcoin ordinals, known as “Bitcoin NFTs,” differ from conventional NFTs regarding their underlying infrastructure. While most NFTs are linked to blockchain platforms like Ethereum, Bitcoin ordinals leverage the Bitcoin blockchain for their creation and storage. The Ordinals protocol introduces a distinct approach to representing and monitoring unique digital assets on the Bitcoin network.
BRC-20 tokens on the Ordinal Protocol
BRC-20 tokens were developed as an experimental token standard to facilitate the creation and transfer of fungible tokens on the Bitcoin network, similar to the ERC-20 token standard used on Ethereum and other EVM-based blockchains.
The functioning of BRC-20 tokens involves using ordinal inscriptions on satoshis, the smallest units of Bitcoin. Through Bitcoin ordinals, each satoshi is assigned a unique number and can be identified within the Bitcoin network. JSON inscriptions are attached to these satoshis, defining the core features and characteristics of the BRC-20 tokens. This process is similar to smart contracts and allows for creating and managing BRC-20 tokens. While Ordinals are used to create NFTs by tagging individual satoshis, BRC-20 tokens involve minting satoshis to hold information about an entire collection of tokens.
BRC-20 tokens possess fungibility, meaning each token holds the same value and can be freely exchanged or transferred like any other cryptocurrency. They can be spent or transferred between users on the Bitcoin network. While BRC-20 tokens and ERC-20 tokens share similarities in operating on a parent blockchain network, they differ because of the distinctive infrastructu...
View original post
Cryptopolitan
How to Comparatively Choose and Deploy A BRC-20 Token? | Cryptopolitan
Check out the concept of BRC-20 tokens and their deployment, comparing them with known ERC-20 token standard on the Ethereum network.
Investors want crypto, but not without TradFi backing: Nomura survey
Cointelegraph.com News (RSS)
A Nomura Laser Digital survey has revealed the majority of institutional investors polled are still keen on crypto.
Cointelegraph.com News (RSS)
A Nomura Laser Digital survey has revealed the majority of institutional investors polled are still keen on crypto.
Elon Musk (Twitter)
This conspiracy theory that birds are actually government spy drones is … totally false
This conspiracy theory that birds are actually government spy drones is … totally false
Double trouble: FTX founder Sam Bankman-Fried faces two criminal trials
Cointelegraph.com News (RSS)
A District Judge ordered a separate trial for the DOJ's charges against Sam Bankman-Fried which were added following his extradition to the U.S.
Cointelegraph.com News (RSS)
A District Judge ordered a separate trial for the DOJ's charges against Sam Bankman-Fried which were added following his extradition to the U.S.
Uniswap Cross-Chain Bridge Assessment: Wormhole & Axelar Pass, LayerZero, Celer Fail
CoinCu News (RSS)
Key Points:
Uniswap Foundation releases cross-chain bridge assessment report.
Wormhole and Axelar approved for Uniswap’s protocol governance.
LayerZero, Celer, DeBridge, and Multichain do not meet the current standards....
View original post
CoinCu News (RSS)
Key Points:
Uniswap Foundation releases cross-chain bridge assessment report.
Wormhole and Axelar approved for Uniswap’s protocol governance.
LayerZero, Celer, DeBridge, and Multichain do not meet the current standards....
View original post