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Binance partners with Bermuda

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Binance has been in the news a lot recently and it’s for all the right reasons. The largest cryptocurrency exchange platform in the world is the news this time for striking a deal of implementing Digital Assets including cryptocurrency in Bermuda. The CEO of Binance, Changpeng Zhao has been quite busy lately as he has been going around the world and trying to expand the use of blockchain technology and cryptocurrency by meeting prominent leaders to discuss the benefit of the blockchain technology to their economy.
On his visit to Bermuda, Changpeng Zhao met the representatives of the Government of Bermuda including Premier David Burt, Premier and Minister of Finance, Hon. E. David Burt, JP, MP regarding the implementation of Digital Assets including cryptocurrency in Bermuda. The news was announced on Twitter by Bermuda’s Premier and Minister of Finance, David Burt, “Welcomed Binance CEO CZ & Co-Founder @heyibinance to the Bermuda Cabinet Office to share the steps Bermuda is taking to become the jurisdiction of choice for the world of Digital Assets including cryptocurrency.”
Zhao who seems to be targeting smaller countries was asked about his travels. He stated that blockchain is for everyone and when one is doing something meaningful and that he had only that he met with three Head of states in the past 8 days.  Zhao states, “Small boat turn faster. Not all small countries, though. Small countries with great leaders, to be precise.”
Zhao’s actions have been greatly admired as he seems to be paving a way for mass adoption through his inclusion of smaller countries. Asides Bermuda, there are other countries banking the support of Binance. Recently, Uganda had a partnership with Binance to support its economic transformation. Malta is the next point of call as Binance is expanding to Malta. The company has already partnered with Changelly  to increase the liquidity of the firm. We are looking forward to the next move Binance is going to make.

Do you think cryptocurrency is the future of exchange or do you think Deutsche Bank would surpass that of Binance? Let’s hear what you think. 

 

Image credit: @Bermudapremier

 
 

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The Crypto Community Welcomes the Release of Ethereum 2.0

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Ethereum has stormed the crypto space with its first phase of “the next-generation proof-of-stake (PoS) Ethereum 2.0” . Beaconcha.in. disclosed that the first phase of the Serenity phase was released at 1:00 pm WAT on Tuesday, the 1st of December, 2020.  

The Ethereum developers have been setting up Ethereum 2.0 since the present proof-of-work (PoW) network was established far back in 2015. It promises the perks of a one-stop blockchain for distributed or “decentralized Computer-based Apps.”

With this latest release, the present Ethereum network will experience an evolution into a new mode of settling payments on the go. This Beacon Chain promises to establish a faster and more transparent Ethereum blockchain.

“The launch of the Beacon Chain is a huge accomplishment and lays the foundation for Ethereum’s more scalable, secure, and sustainable home, says Danny Ryan, an Ethereum Foundation Researcher. “There is still much work to do, but today we celebrate.”

Created by Vitalik Buterin, a Russo-Canadian, the Ethereum Blockchain and now the most recent Beacon Chain is the product of years of extensive research and pressure from the investors that make up the Ethereum community. Buterin saw an era when Blockchain will be utilized for more than just a digital currency but to power various decentralized Apps and functions. He was bent on utilizing the  POS Consensus Mechanism instead of the usual Proof of Work (POW) mechanism.

The Ethereum Community has patiently waited for the ETH 2.0 release which has been stalled by delays upon delays. This new program presents a whole new feature of being accessed via multiple languages. This appears to be one of the many reasons for its stalled release over the last five years.

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Explaining DASH Coins to Investors Big On Privacy

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Dashcoin (DASH) is a grand derivative of Bitcoin. Essentially it is a derivative of the derivative of Litecoin. Jokes apart,  DASH is a hardfork of Litecoin which in turn is a derivative of Bitcoin. 

Formerly dubbed Darkcoin, it was curated in January 2014 by Evan Duffield when he became frustrated with the transaction speed of Bitcoin.  DASH uses both masternodes and miners to validate onchain actions. One key feature of the altcoin is that it gives users the option of privacy when transacting.

With InstantSend, onchain actions using DASH are transacted speedily as intended by the founder of the crypto.

Investors are always quick to evaluate how the prices of their investments will do in coming years, but believe you me, there is a whole lot that goes into scaling the monetary worth of any investment  talkless of a volatile cryptocurrency. Nevertheless its functionality as a virtual currency is what triggers its market movement and causes its value to go up or plunge.

One key thing that distinguishes DASH from many cryptocurrencies is its privacy feature dubbed “PrivateSend”. Users have the option of opting for an anonymously transacted onchain action.

It appears that this altcoin is more of a functioning crypto than a store of wealth. Taking Venezuela as a case study, with the crypto scaling to be a worthy altè to traditional online payments, its perks are key factors to take note of when determining if its price will rise or fall in the nearest future. 

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As the Crypto Community Continues to Await the Belated ETH 2.0 Release, Vitalik Buterin Stakes $1.4M worth of Ether to Support the Blockchain  

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The Serenity ETH 2.0 is already seeing stakes from investors. Vitalik Buterin, founder of the Ethereum blockchain has transferred his first ETH for staking on the incoming iteration of the Ethereum blockchain.

The Ethereum Founder’s address transferred 32 ETH each on about a hundred on-chain actions. 

TrustedNodes reported that the gross sum of the crypto sent is about 3200 cryptos. The aggregate of all crypto sums sent is about $1.4 million as at the time of writing this piece.

These sums were sent via on-chain transactions to Ethereum  Serenity Phase 2.0’s just released deposit contract. This newest innovation became available in real time starting from Wednesday, the 4th of November 2020. It is a deposit contract that enables users transfer crypto from the extant proof-of-work blockchain to the about-to-drop proof-of-stake (PoS) blockchain.

The minimum requirement of staking 32 Ethers so as to scale the ETH 2.0 has since been met by the users depositing the above mentioned sums. 

About a seventeen million dollars ($17 million) or  38,693 ether has been amassed by the deposit contract as at press time. 

It will interest you to know that Point of Stake Networks (PoS) are not powered by mining unlike the current Bitcoin and Ethereum blockchains. A PoS network is enabled by stashing funds (staking) for a specified term so as to earn profits on same.

The Ethereum community continues to await the belated release of the Ethereum 2.0 Proof of Stake network projected to launch probably early December 2020.

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