On this day in 2018, Lionel Laurent of Bloomberg wrote:

"Bitcoin's historical track record suggests that its biggest jumps are due to speculation rather than real progress in utility or technology."

Look at bitcoin today - growing and thriving 🐳

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Crypto Speak: PoS

We've talked about Proof of Work (PoW) before, now let's discuss Proof of Stake (PoS).

Proof of Stake (PoS) is a consensus mechanism used in blockchain networks to validate and confirm transactions. In a PoS system, validators are chosen to create new blocks and secure the network based on the number of coins they hold and are willing to "stake" as collateral.

Validators take turns proposing and validating new blocks, with the chance of being chosen to create a new block being proportional to the amount of cryptocurrency they hold and are willing to stake.

PoS is considered more energy-efficient than Proof of Work (PoW) and is used by blockchain networks such as Ethereum 2.0, Cardano, and Tezos.

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Last week's summary for spot Bitcoin ETFs in the US saw an outflow of $580.6 million.

Investors began withdrawing capital from BTC-focused spot instruments after 4 weeks.

The market situation is extremely challenging, and it's likely that we won't see anything significant in the market until the end of the summer.

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🥇 13 years ago, the price of bitcoin collapsed from a high of $30 to $2.95.

The media called this drop the "Great Bubble of 2011". Since then, the bitcoin price has increased more than 20,000 times.

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Understanding Web Wallets

Web wallets offer the convenience of accessing your cryptocurrency funds from anywhere, at any time, through a web browser. They store your private keys on a remote server, allowing you to manage your funds online. However, this convenience comes with a risk of hacking or unauthorized access. To mitigate this risk, choose a reputable web wallet provider with robust security measures like two-factor authentication and encryption.

Here's an example: Let's say you create an account with a web wallet provider and deposit 1 Bitcoin (BTC). You can then use your username and password to log in and access your account balance, send and receive BTC, and perform other wallet functions. When you send BTC from your web wallet, the transaction is signed with your private key and broadcast to the blockchain network for validation. Once confirmed, the recipient receives the funds in their wallet.

Remember to only keep manageable amounts of cryptocurrency in a web wallet and prefer to store larger amounts in more secure offline wallets. Stay safe and secure in the world of cryptocurrency!

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Types of Yield Farming

As explained in the Yield Farming post, it's a popular way to earn passive income in the crypto space. Here are the main types of it:

▪️Liquidity providing: One of the most common types of yield farming involves providing liquidity to decentralized exchanges (DEXs) or lending platforms. By adding your tokens to a liquidity pool, you help facilitate trades on the platform, and in return, you earn a portion of the trading fees and other rewards.

▪️Staking: Another popular method is staking, where you lock up your tokens in a smart contract to support the network's operations. In exchange for staking your tokens, you receive rewards, typically in the form of additional tokens.

▪️Lending: Yield farming also includes lending your cryptocurrencies through decentralized lending platforms. By lending your tokens, you earn interest on the amount you lend out, allowing you to generate passive income on your holdings.

In essence,Yield farming can be lucrative, but it comes with risks. Always do thorough research before diving in. For more detailed insights on yield farming and other ways to earn in crypto, visit our website.

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🔵 Coinbase has introduced pre-launch market trading for investors to gain exposure to altcoins before mainstream exchange debut.


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What is a Ring Signature?

Ring signatures revolutionize digital signatures by enabling a group of users to collectively sign a message without disclosing the individual signer's identity.

This innovative concept, introduced in 2001, merges a signer's private key with public keys from a group to create an untraceable signature.

For instance, in Monero transactions, ring signatures cloak the sender's identity, ensuring privacy and anonymity. By blending multiple keys, ring signatures enhance security and confidentiality in cryptocurrency transactions, safeguarding user information while validating the integrity of messages.

Embracing ring signatures empowers crypto enthusiasts with a shield of anonymity, making cryptographic interactions more secure and private.

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🕯The top of the bull market could be reached in December 2024

A popular Twitter analyst believes that the top of the current cycle could be reached in December 2024 or October 2025 (or whenever 😅) if the current cycle repeats the movement of the last three halving cycles.

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💲$200 million is invested in crypto projects related to artificial intelligence by one of the most famous crypto funds Pantera Capital.

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What is SocialFi and how does it work?

SocialFi, a combination of "social" and "finance," is a technology that merges social media with blockchain technology. It aims to reward users for posting valuable content online while giving them more control over their data and greater freedom of expression. One of its key features is the use of cryptocurrencies, enabling direct compensation for social engagement.

Successful SocialFi Platforms:
1. Friend.Tech: A blockchain-based platform rewarding users for engagement and content creation.
2. Farcaster: Integrates blockchain technology for transparency and fair compensation for content creators.

SocialFi represents a new era of social media, empowering users while addressing the shortcomings of traditional social media platforms.

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💰 Bitcoin ETF Lists on Main Australian Stock Market for First Time

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Crypto Speak: Leverage

In cryptocurrency trading, leverage serves as a double-edged sword, offering the potential for amplified profits while carrying heightened risks. This high-risk strategy involves borrowing funds to magnify the size of a trade, enabling traders to control larger positions in the market with a fraction of the capital required.

For example, if a trader leverages their trade at 50x, they are trading with 50 times their initial investment. If the market moves in their favor, even a modest price increase can lead to substantial gains. However, a price decline can quickly erode the entire investment, highlighting the volatile nature of leveraged trading.

Navigating crypto leverage demands a deep understanding of market dynamics and robust risk management strategies. While the allure of exponential profits is enticing, traders must tread cautiously and be mindful of the potential pitfalls that come with leveraging in the cryptocurrency space.

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⚡️ 3iQ has applied to launch the first Solana ETF in Canada

According to Bloomberg analyst James Seyffarth, more than $1 billion has been placed in various Solana-based funds today.

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✉️Telegram is a machine for cryptocurrency adoption

Crypto publication CoinDesk writes that Telegram and several independent developers have made great progress in attracting people to crypto, and the platform itself and TON have become a panacea for the crypto industry.

Analysts from CryptoQuant claim that Toncoin is currently one of the most popular blockchains, and the number of TON holders has increased 10 times this year.

Today it also became known that Binance added USDT support to the TON network.

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Crypto Speak: Merkle Roots

In the blockchain realm, ensuring transaction integrity and security is crucial. Enter Merkle roots—a cryptographic hash that acts like a digital fingerprint for a set of data, such as a block of transactions. Named after Ralph Merkle, who patented the concept in 1979, Merkle roots enhance data integrity by dividing data into smaller chunks, hashing each one, and then pairing and hashing them repeatedly until only a single hash remains.

Think of it as a digital DNA sample. Any alteration in the block data changes the corresponding leaf hash, which then propagates up the tree, modifying the Merkle root. By comparing the expected Merkle root with the actual one, any data tampering can be swiftly detected.

Merkle roots are vital in various blockchain applications like Bitcoin, Ethereum, and ZK-SNARKs for verifying the integrity of blocks and transactions efficiently. For instance, in Bitcoin, the Merkle root in the block header links to the previous and next blocks, facilitating easy transaction validation and security.

In essence, Merkle roots are a powerful tool for maintaining data integrity and enabling efficient verification in blockchain systems, making them indispensable to the blockchain ecosystem.

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🪙 The following applicants filed an updated version of their S-1 spot Ethereum ETF application:

• Bitwise
• Fidelity
• VanEck
• Franklin
• 21Shares
• Grayscale
• BlackRock

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🥇 One of the world's richest people likes Bitcoin?

DELL founder Michael Dell, who has a fortune of $112 billion and ranks 16th on Forbes' list of the world's richest people, has started actively tweeting (X) about bitcoin.

For example, Dell posted a photo of Cookie Monster eating bitcoin cookies and, reposted a tweet by bitcoin miner Michael Saylor:

Bitcoin is a digital scarcity

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The Magic of Merkle Trees

Imagine a digital fingerprint that verifies the integrity of a massive dataset with just a single hash value. Enter Merkle trees, a revolutionary data structure that ensures the consistency and security of blockchain data. Named after Ralph Merkle, this hierarchical structure organizes data into a tree-like format, with each node containing a hash value. The root node, or Merkle root, represents the entire dataset, allowing for quick verification of data integrity.

Here's an example: in Bitcoin, Merkle trees are used to verify transactions within a block. By comparing the Merkle root of a block with the previous block's Merkle root, participants can quickly detect any tampering or alterations. This ensures the immutability and security of blockchain data, making Merkle trees an indispensable component of blockchain technology.

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FUN FACT: In 2014, #Dell accepted payment of 85 #Bitcoin  worth $50,000 for a server order.

Today, that 85 🥇 BTC  is worth $5.4 million.

📈Crypto_Ocean