Crypto Guides, Knowledge & Insights

Georgian Wine's Authenticity and Quality to be Encouraged by Cardano Blockchain

The Bolnisi Winemakers Association, Scantrust, and Georgias National Wine Agency have partnered up to enhance the consistency and authenticity of the countrys wine, according to a statement from the Cardano Foundation. 　　Mel McCann, vice president of engineering at the Cardano Foundation, stated:　　“This collaboration will develop a creative, cost-effective, and flexible certification and traceability system, which will provide transparency and authenticity for wineries and customers from the point of harvest to the point of consumption.”　　The collaboration with independent wineries to create a sustainable, shareable, and affordable platform will be led by the Cardano Foundation. 　　　　The report states:　　“A pilot program will be expanded in the Bolnisi region, serving both local and export markets. It will include up to 100,000 bottles of wine harvested during the Autumn 2022 period and subsequently bottled during Spring 2023.”　　Customers will have the ability to monitor the history and provenance of commodities thanks to the bottles encrypted and distinctive QR codes. Since credibility and transparency are crucial parts of consumer goods, the identifiable solution fueled by blockchain is seen as a preliminary step toward generating more wine. 　　Bolnisi Winemakers Association founder Guram Avkopashvili remarked:　　“Our goal is to produce and export 12 million bottles of wine in Bolnisi in

2022-09-22Deep Dive

The first US state to accept cryptocurrency for tax payments is Colorado

The announcement was made by Governor Jared Polis, who noted that it was a stride toward Colorado being a powerhouse for technology transformation. 　　The state of Colorado has now informed that it would now recognise crypto as a payment mechanism for all taxes. “Since weve been discussing this for some time, weve promised to deliver by the end of the summer, and we have,” Polis added. 　　Payments must be made using personal PayPal accounts, which recognize Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and Bitcoin Cash, according to the Colorado Department of Revenue (BCH).　　The governor reiterated that the state would receive the cryptocurrency payments and deposit the repurposed value in dollars into the state coffers. He continued:　　“Taxpayers can now select cryptocurrency as a payment option, just showing again from a customer-service perspective how Colorado is tech-forward in meeting the ever-changing needs of businesses and residents.”　　Polis thinks using online payments is the right strategy to encourage innovative solutions in the state.　　According to Blockchain.News, the governor of Colorado said relatively early this year that arrangements are quite well under progress for the state to accept cryptocurrency tax payments as earlier than usual as this summer. 　　Given that Polis was one of the pioneers

2022-09-21Deep Dive

Report: For Voyager's Assets, Crypto Exchanges Binance and FTX Have Each Made Bids of Around $50M.

During the COVID-19 pandemic, crypto operators like Voyager had seen a surge in business, luring clients with high fees and convenient loans available that conventional banks hardly ever gave. Lenders have been harmed from the precipitous decline in cryptocurrency markets, which was prompted by the failure of two significant tokens in May.　　Voyager, a New Jersey-based company set up in Toronto, stated in its Chapter 11 bankruptcy petition filing last July that it had more than 100,000 debtors, assets valued between $1 billion and $10 billion, and liabilities of roughly the same amount.　　According to sources with insight into the situation who talked to the Wall Street Journal, Binance and FTX have given the highest proposals of nearly $50 million for the assets of collapsed crypto lender Voyager Digital. According to the article, neither offer has been approved as of yet. 　　According to the sources, Binances bid price is marginally higher than FTX.　　FTX and Binance were vying to buy Voyagers assets at the bankruptcy auction, which took place last week in New York, based on a previous story by CoinDesk. The auctions final results are slated to be disclosed on September 29, albeit this date may be earlier.　　When contacted for comment on

2022-09-21Deep Dive

Institutional Crypto Asset Custody Services from Nasdaq

According to speculations, Nasdaq Global Select Market, the second-largest brokerage in the world, is on schedule to further implement itself into the ecosystem of digital currencies by intending to provide custody services for Bitcoin (BTC) and Ethereum (ETH).　　Institutional investors are the Nasdaq exchanges primary clientele because their participation has expanded substantially over the past few years. While amassing cryptocurrency is one thing, trying to protect it is quite another, and company-owned assets must not be overseen by just one individual.　　Custodial services are therefore obligated, and while firms like Coinbase, Gemini, and Kraken presently lead the institutional crypto custody economy, many think Nasdaq wont be far behind them. 　　The general trajectory and participation among institutional investors, according to Tal Cohen, executive vice president of Nasdaq, are likely to elicit a revolution.　　The Emergence of Nasdaq Digital Assets Unit　　Ira Auerbach, the former head of Prime Brokerage Services at Gemini Exchange, will be in charge of the recently established Digital Assets Unit, that will deliver the crypto custody services that the Nasdaq is required to provide.　　Auerbach stated in an interview that “we anticipate this next wave of the revolution is going to be driven by large institutional adoption.” “There is no better location, in

2022-09-21Deep Dive

Arbitrum Saved From Major ETH Loss by White Hat Hacker

Another cryptocurrency vulnerability has been discovered by a so-called white hat hacker, who discovered an exploitable hole in the bridge between Ethereum and Arbitrum Nitro.　　The hacker, known as riptide on Twitter, detailed their discovery, which comes on the heels of an accelerating spate of hacks in the bridges that connect multiple blockchains, which have together robbed hundreds of millions of dollars of primarily user funds this year.　　Arbitrum, the layer-2 Ethereum scaling solution, awarded riptide a bounty of 400 ether (ETH) via the bug bounty platform ImmuneFi.　　According to riptide, the multi-million dollar vulnerability would have allowed an attacker to steal any incoming ether deposits from consumers attempting to bridge their assets across Ethereum layer-1 and layer-2 protocols to Arbitrum.　　According to the white hat hacker, the initialization-related vulnerability would have allowed any malicious actor to impersonate a user and transmit the authentication message to the “sequencerInbox” function to execute the exploit.　　According to riptide, the greatest deposit recorded on the inbox contract was 168,000 ETH, or around $250 million, with average contributions ranging from 1,000 to 5,000 ETH in a 24-hour period.　　Another Twitter user, smartcontracts.eth, stated that “rollups are still heavily under development,” warning his followers to be cautious while using layer-2 protocols.

2022-09-21Deep Dive

New Fee Schedule to be Announced by Coinbase

For transactional tiers from $100,000 and $1 million, the revised pricing structure will alter the takers and maker fee structure in addition to the tiers. 　　The monthly trading activity required to be qualified again for mid and upper tiers of Coinbases fee schedule has indeed been dropped as a result of the new structure, according to Coinbase, which takes into account fluctuations in asset pricing and worldwide crypto trading volumes.　　The crypto exchange noted that Coinbase Exchange, Pro, and Professional Trade would all use the new mechanism. Coinbase also aims to have included content regarding their encryption protocol. 　　In anticipation for the next US midterm elections, Coinbase founder Brian Armstrong said he planned to add encryption target function to the Coinbase trading app.　　According to him on Twitter, this will assist Coinbases 103 million confirmed users grasp the position on cryptocurrencies adopted by political figures in their area. Throughout a platform dubbed the Crypto Action Network and a consolidated scorecard, this connection gives the crypto sector broad authority for elected officials. Each congressional member is awarded an aggregate grade for their freely released views and actions regarding crypto policy, varying from “A” to “F.”　　In contrast, the businesss cloud has released the Solana

2022-09-20Deep Dive

Inery Token will be listed by Huobi Global on the Last Week of September

The official registration of Inerys token on Huobi Exchange is expected to go live on September 28, 2022, in accordance with the decentralized data system. One of the top cryptocurrency exchanges around the world, Huobi Exchange, offers more than 600 cryptocurrencies and over 1000 trade pairs. Inery streamlines the migration to the decentralised web whilst adopting a novel outlook to decentralizing data and data handling for both Web2 and Web3 enterprises. 　　The Inery ecosystem is created to enable distributed information management by fusing distributed data qualities like superior efficiency, lower transmission latency, and complex and difficult query functionalities with blockchain functionalities like absoluteness, confidentiality, and shareholder data assets. The native coin of the network, $INR, is employed to power and maintain the ecosystem.The official trading pair for Inery when it registers on the Huobi market will be INR/Tether (USDT). This trade pair will commence trading on September 28 at 13:00 UTC. 　　As we edge closer to the Web3 revolution, the projects goal is to make sure that information management and retention are not restricted to walled gardens and that people are given back authority. Huobi promotes cutting-edge efforts that empower users in the blockchain and cryptocurrency industries and effectively integrate

2022-09-20Deep Dive

ZARP appoints Old Mutual to head the adoption of its stablecoin pegged to be the South African Rand.

By: Damian Okonkwo 　　The founders of the ZARP which is the only bank-approved South African stablecoin have appointed the Old Mutual group to head the movement for the adoption of this stablecoin in South Africa.　　The Old Mutual group is one of the oldest and most famous financial service providers in South Africa today, hence, by partnering with them, the creators of the ZARP seek to tap into the companys reputation to promote the adoption of the ZARP in South Africa.　　Speaking on the new partnership, the Zarp founders revealed that the partnership will add a “new dimension of trust” towards the adoption of the stablecoin - by ensuring continuous project auditing and support from the financial giant operating in South Africa today.　　The ZARP was founded in 2021 by Simon Dingle and Kenny Inngs as a Stablecoin pegged to the South African Rand. This from its creation up to the present moment enjoys the popularity of being the only bank-approved Stablecoin in the country which is pegged to the South African fiat currency ZAR.　　Nevertheless, its usage has not spread so much as expected within the province. Hence, to help promote its usage and adoption in South Africa, the ZARP creators deemed it

2022-09-20Deep Dive

Ankr and Polygon collaborate to enhance Supernet developers' Web3 working

One of the largest Web3 infrastructure companies in the world, Ankr, is delighted to share that they have collaborated with decentralized Ethereum scaling platform Polygon. This agreement will facilitate the ability for Web3 programmers to use Polygon Supernets to establish application-specific blockchains.　　Supernets is EVM-compatible, extensible, exceptionally efficient and accurate, and programmable. It is underpinned by the modular network stack Polygon Edge. It helps programmers to build a one-of-a-kind decentralized network without having to be concerned about keeping blockchain infrastructure. With the assistance of Polygons professional validator partners and supernets, programmers may swiftly establish decentralized validator sets.　　Ankr and Polygon similarly attempt to make Web3 development speedier, more affordable, and simpler. Addressing the difficulties of blockchain development while providing scalability and app-specific customization are critical if Web3 is to be employed effectively. Developers may immediately develop a customized, high-performing blockchain network using Polygon Supernets. 　　Any smart contract or dApp designed in Solidity, Vyper, or another language for the Ethereum compliant networks may be launched on a Polygon Supernet. Developers will be given the choice to choose the programming languages, consensus protocols, and methods of implementation they want to implement with Ankrs App Chains.　　About Polygon　　A scaling system called Polygon, initially called the Matic

2022-09-20Deep Dive

Due to regulatory and interest rate concerns, Bitcoin drops to $18.5K.

Bloomberg reports that as of 7:10 am in London, the largest digital coin was trading at $18,500 and was about to reach its minimum value since 2020 by as much as 6.7%. The second-largest cryptocurrency, Ether, had difficulty keeping the $1,300 level as it lost up to 6.2% of its value. 　　This week, regulatory tensions and monetary tightening are expected to spread from Europe to the US, and buyers throughout the world have been cautious of riskier investments.　　Traders are expecting instability as a consequence of the major interest-rate raise that the Federal Reserve is scheduled to make this week in order to alleviate price pressures. According to Bloomberg, as an indication of market pessimism, US equity futures were down and a dollar indicator increased. 　　Yet, long-term traders (3 to 5 years horizon) might not have anything to worry about as Bitcoin value will eventually increase as the macro climate stabilizes over the next few years.　　Even though the Ethereum blockchain, which claims to support the ether token, having undergone a major boost last week called the Merge, there is some speculation that Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), hinted that the new structure might draw

2022-09-19Deep Dive

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