Waterfall is the most decentralized BlockDAG protocol currently available 🚀
🔑 Key Features:
📌 This decentralized platform has the potential to attract much more validators than other protocols.
📌 Minimal hardware requirements: Dual-Core CPU, 4GB RAM (your cellphone has 2-4 times more than that).
📌 High performance and scalability, thanks to parallelism in BlockDAG compared or even higher potentially that the most scalable currently popular protocols
📌 Compatible with EVM and Ethereum API.
The team includes senior people who were successfully building the ecosystem for Ethereum and those who were successfully competing against it:
Ron Resnick is the CEO of the company-developer of Waterfall, is also a former Executive Director of Enterprise Ethereum Alliance and a former Investment Director of Intel Capital.
Jeff McDonald is the Director at the Board of Directors for Swiss Association, is also a Former Co-Founder of Nem, which used to be in Top-5 and for a short time in Top-3 right after Ethereum.
The Chairman of Board of Swiss Association is Richard Wang, who is also General Partner at Draper Dragon Fund.
R&D team has been rigorously testing technology since 2021.
More than 275 Workers(block producers) on the TestNet are owned by the developers and future users of Waterfall.
On the first day after the new TestNet announcement, 115 Workers connected and more than 450 000 transactions were processed.
On January the 2nd more than 650 000 transactions was successfully processed.
Find out more details in their communities:
https://t.me/waterfall_network
https://twitter.com/waterfall_dag
https://discord.gg/Nwb8aR2XvR
🔑 Key Features:
📌 This decentralized platform has the potential to attract much more validators than other protocols.
📌 Minimal hardware requirements: Dual-Core CPU, 4GB RAM (your cellphone has 2-4 times more than that).
📌 High performance and scalability, thanks to parallelism in BlockDAG compared or even higher potentially that the most scalable currently popular protocols
📌 Compatible with EVM and Ethereum API.
The team includes senior people who were successfully building the ecosystem for Ethereum and those who were successfully competing against it:
Ron Resnick is the CEO of the company-developer of Waterfall, is also a former Executive Director of Enterprise Ethereum Alliance and a former Investment Director of Intel Capital.
Jeff McDonald is the Director at the Board of Directors for Swiss Association, is also a Former Co-Founder of Nem, which used to be in Top-5 and for a short time in Top-3 right after Ethereum.
The Chairman of Board of Swiss Association is Richard Wang, who is also General Partner at Draper Dragon Fund.
R&D team has been rigorously testing technology since 2021.
More than 275 Workers(block producers) on the TestNet are owned by the developers and future users of Waterfall.
On the first day after the new TestNet announcement, 115 Workers connected and more than 450 000 transactions were processed.
On January the 2nd more than 650 000 transactions was successfully processed.
Find out more details in their communities:
https://t.me/waterfall_network
https://twitter.com/waterfall_dag
https://discord.gg/Nwb8aR2XvR
Blockchain Association Sounds Alarm: Warren's Anti-Crypto Bill Jeopardizes US Jobs and Security
💼 The Blockchain Association is raising red flags once again, this time about a bill backed by Senator Elizabeth Warren that could have dire consequences for the crypto industry.
💲 Titled the Digital Asset Anti-Money Laundering Act of 2023 (DAAMLA), this legislation has garnered support from 19 other Senators, leaving the crypto community deeply concerned.
💬 In November, the Association sent an initial letter signed by 40 former military and intelligence officers. Now, with 80 signatories, their message is even stronger.
🔍 While the first letter aimed to debunk exaggerated claims linking crypto to international conflicts, this one shifts focus to the policy implications of Warren's bill.
💼 According to the Association, this legislation not only puts our nation's strategic advantage at risk but also endangers thousands of American jobs, all while doing little to combat illicit activities in the crypto world.
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✅ Blockchain: Polygon
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Website
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The Future of Crypto Miners Hangs in the Balance: Galaxy's Warning
📉 Publicly traded cryptocurrency miners are facing a new challenge, warns a recent report by Galaxy Research. 🚀
🔍 Bitcoin ETFs, now on the scene, have given investors an alternative way to ride the Bitcoin wave. Before, mining stocks were the go-to for exposure to Bitcoin's growth.
❔ The competition is heating up as sophisticated investors flock to these ETFs, forcing miners to prove their worth in terms of earnings potential.
💼 In the short term, investors will be weighing the pros and cons of mining stocks against the allure of ETFs, says Galaxy's VP of Mining, Brandon Bailey.
📈 Retail investors may see miners as a leveraged bet on Bitcoin, with ETFs setting the performance bar.
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Navigating the Regulatory Tide: JPMorgan Warns of U.S. Influence on Tether's Offshore Journey
🪙 Tether, the titan of stablecoins, finds itself in choppy regulatory waters as authorities worldwide set their sights on increased transparency and compliance.
💬 Despite Tether's non-U.S. base, JPMorgan's research report reveals that American regulators can still make waves through the powerful Office of Foreign Assets Control (OFAC).
🌐 As new rules loom, JPMorgan's analysts caution that Tether may face "indirect pressure," potentially making other stablecoins with stronger KYC and AML credentials more appealing.
💡 While Tether has made some strides in sharing reserve data, JPMorgan remains skeptical, suggesting that these efforts might not be enough to calm concerns.
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Revolutionizing Car Purchases in China: Digital Yuan Drives Smart Contracts!
✅ Digital Deals on Wheels: Shenzhen, China's tech-savvy city, is steering the future of car buying with a cutting-edge collaboration between the Agricultural Bank of China and the Pingshan District Administration for Market Regulation.
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Bitcoin Price Prediction: $51,400 Dip Amid Senate Regulation Standstill & Global Trends; What’s Next?
🪙 Bitcoin is trading value of $51,400 reflects a modest decrease of 1.20% on Thursday. This financial landscape is continuously shaped by various factors, including regulatory discussions and global market trends. Amidst this backdrop, the anticipation around Bitcoin price predictions gains momentum, offering insights into potential future trajectories.
🟡 Such forecasts are crucial for stakeholders aiming to navigate the complexities of the cryptocurrency market, especially as discussions on regulation and innovation, such as those in the U.S. Senate and initiatives by Switzerland’s Postfinance, influence investor sentiment and market dynamics.
💲 The evolving regulatory environment and advancements in cryptocurrency adoption underscore the importance of closely monitoring Bitcoin’s price predictions to make informed investment decisions.
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Prosecutors Seek Travel Restrictions for Binance's CZ: Passport Surrender Demanded!
🇺🇸 The United States Attorney's Office is not taking any chances with Changpeng Zhao, the former CEO of Binance. They've made a bold move, requesting that he surrender his passports before sentencing.
💎 U.S. Attorney Tessa Gorman has filed a motion, urging Magistrate Judge Brian Tsuchida to tighten the leash on CZ's travel plans as part of his bail conditions.
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Circle and NFT-Driven Game ‘Overdare’ Collaborate on Web3 Wallets and USDC Payouts
💀 Stablecoin issuer Circle and South Korean NFT-driven metaverse ‘Overdare’ are teaming up to allow game developers to build in-game Web3 wallets within the platform. The collaboration will also empower game creators to facilitate direct USDC payouts on the platform, as per a Monday announcement.
🔵 Developed by Krafton, the studio behind PUBG, Overdare is a create-to-earn metaverse game slated for a global launch in the second half of 2024. The partnership with Circle extends beyond in-game wallet functionality. Overdare aims to transform intellectual property (IP) and income management for creators by using Circle’s Programmable Wallets. This integration will enable IP trading and facilitate direct payouts in USDC, allowing creators to explore new revenue streams.
🔵 “We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all,” Circle CEO Jeremy Allaire, said in a statement.
🐰 Taking inspiration from gaming platform Roblox, Overdare uses Epic Games’ Unreal Engine 5 to deliver AI-powered creation tools. This allows players to take on the role of game designers within the metaverse, crafting their own unique experiences.
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Serenity Shield Token Fell Victim to Hack: $5.6 Million Worth SERSH Stolen
🤮 Serenity Shield project, a multi-chain data storage startup, fell victim to a theft on Tuesday that compromised its MetaMask wallet. “Today, a MetaMask wallet related to our project was compromised. Consequently, we’re taking immediate steps to address this and support our community,” the company said in a post on X (Twitter).
🧬 Per investigations by pseudonymous blockchain investigator ZachXBT, the hack took place on one of Serenity’s wallets on BSC. Perpetrators stole around 6.9 million native SERSH tokens worth $5.6 million at the time of hack, the investigation revealed.
💎 “Interestingly it is connected on-chain to the recent OKX DEX & Concentric hacks as well,” ZachXBT said in a Telegram update. The blockchain platform has asked users to halt all SERSH trading on PancakeSwap. “CEX trading on Gateio and MEXC is also suspended,” the update read.
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State Attorneys General Question SEC’s Authority in Kraken Lawsuit
🇺🇸 A group of state attorneys general has challenged the U.S. Securities and Exchange Commission’s (SEC) authority in the ongoing lawsuit against the cryptocurrency exchange Kraken. On Thursday, state law enforcement officials from Montana, Arkansas, Iowa, Mississippi, Nebraska, Ohio, South Dakota, and Texas filed a joint amicus brief in the SEC’s suit against Kraken.
🔴 They argued that the SEC’s lawsuit could harm consumers and accused the agency of expanding the definition of an “investment contract.” The attorneys general emphasized that cryptocurrencies should not automatically be classified as securities.
🔴 The filing says that the states are not supporting the exchange but are opposing the federal regulator. They expressed concerns about potential preemption of state consumer protection laws and state regulations related to cryptocurrencies.
📲 The attorneys general emphasized that some state laws offer better consumer protection than federal securities laws and that the SEC’s exercise of undelegated authority puts consumers at risk. “States have a strong interest in preventing the potential preemption of consumer protection and other state laws by the SEC’s attempt to regulate crypto assets as securities,” the filing said.
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Lawsuit Filed: Wall Street Journal Faces Defamation Allegations Over Tether-Bitfinex Article
😻 The Wall Street Journal is facing a defamation lawsuit over an article that allegedly falsely accused a Thai-based aviation fuel broker and his company of involvement in illegal activities at stablecoin issuer Tether and crypto exchange Bitfinex.
⚫️ Christopher Harborne, the owner of AML Global Ltd., filed the lawsuit in a Delaware state court on February 28, claiming that the article made baseless accusations of fraud, money laundering, and financing terrorism. The contentious article, titled “Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts,” was published in March 2023.
⚫️ It reported on Tether and Bitfinex’s struggles with maintaining access to the global banking system and suggested that they resorted to using shadowy intermediaries, falsified documents, and shell companies to regain access. The Wall Street Journal claimed that some of these accounts were involved in illegal activities.
📨 However, on February 21, 2024, a week before the lawsuit was filed, an editor’s note was added, stating that the section about Harborne and AML had been removed to avoid implying their involvement in misleading banks or the withholding or falsification of information during the account application process.
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Tether Launches Recovery Tool for Migration of USDT Across Blockchains in Case of Disruptions
🪙 Tether, a major stablecoin issuer and one of the leading players in the crypto market, has introduced a recovery tool to facilitate the seamless migration of its Tether (USDT) stablecoin between different blockchains. On March 4, Tether announced the launch of its blockchain recovery plan, aimed at ensuring uninterrupted access to USDT in the event of disruptions faced by any of the multiple blockchain networks utilized for USDT transactions.
🔘 As of that date, Tether reported that USDT is present on 14 different blockchains, including Tron, Ethereum, Solana, Avalanche, and Omni. Among these, Tron and Ethereum are the two largest blockchains for USDT, accounting for 51% and 43% of all issued USDT, respectively.
🔘 Tether noted that USDT exists independently of any specific blockchain and that the blockchains are solely used as a transport layer. Tether’s recovery tool is intended to help mitigate risks associated with potential blockchain unresponsiveness.
😮 Tether explained the process, stating that users can verify ownership of their addresses on an unresponsive blockchain and then indicate a recipient address on another supported blockchain.
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Ethereum Layer-2 Platforms Now Manage Over $36.7 Billion in TVL
🔹 Ethereum layer-2 scaling solutions are booming with total value locked (TVL), which refers to the amount of assets staked or deposited across leading platforms like Arbitrum, Optimism, and Base, exceeding $36.7 billion. According to L2Beat, Arbitrum One, one of the earliest layer-2 solutions for Ethereum, has a TVL of $15.7 billion, nearly double that of its closest competitor, Optimism. This dominance is likely due to its first-mover advantage and security edge.
💲 The spike in TVL in Ethereum layer-2 platforms could suggest rising demand for faster and cheaper transactions. Notably, the expansion in assets under management comes behind surging crypto and Ethereum prices. As of March 5, Ethereum was changing hands at approximately $3,700. Though it has seen correction past 24 hours, the coin was up 13% in the previous trading week.
💲 Others, including the ARB and OP, the native tokens of Arbitrum and Optimism, respectively, have posted gains in recent weeks. ARB is trading at $2, up 6% in the last week. The token now has a market cap of over $2.5 billion, securing a slot in the top 50 most valuable coins, according to CoinGecko data.
🔹 Layer-2 scaling solutions have gained traction over the past few years, with more platforms launching. To illustrate, Blast and Base, two platforms using optimistic rollups, recently launched but now have a TVL of over $2.7 billion and $1.1 billion, respectively.
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$85 Million Crypto Super PAC Sets Sights on Transforming Senate Makeup
🌍 A well-funded political action committee (PAC) backed by prominent figures in the cryptocurrency industry has set its sights on key Senate races, with the goal of potentially shifting the balance of power in Congress.
🟢 The PAC, called Fairshake, recently spent over $10 million successfully opposing a Democratic U.S. Senate candidate in California and now plans to concentrate its efforts on races in Ohio, Montana, Maryland, and Michigan.
🟢 Fairshake, which has amassed a staggering $85 million in funding, primarily from major crypto players Coinbase, Ripple Labs, and Andreessen Horowitz, intends to allocate resources to the general elections in Ohio and Montana, as well as the Democratic primaries in Maryland and Michigan.
💲 These states are particularly significant due to vulnerable Democratic senators up for re-election, who have previously expressed skepticism or criticism towards cryptocurrencies.
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