🚀🌟 Breaking News! Breaking News! 🌟🚀

ICBC has actually recognized Bitcoin!

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The Industrial and Commercial Bank of China recently published an in-depth analysis report, praising the rapid development and diversification of digital currencies. The report compares Bitcoin to gold, calls Ethereum "digital oil," and notes that it can power many Web3 ecosystem applications. It emphasizes that human imagination is key to the exponential growth of digital currency types and applications, as referenced by historian Yuval Noah Harari. Matthew Siegel, head of digital asset research at VanEck, said that Chinese public banks seem to be "sending a love letter" to Bitcoin and Ethereum.

The report describes various development paths for digital currencies, highlighting that Bitcoin relies on a mathematical consensus mechanism to maintain gold-like scarcity and solve a series of problems. Although its monetary attributes are weakened, its status as an asset is solidified. Ethereum is described as the "technological powerhouse of the digital future" due to its proprietary programming language. Its full Turing integration with virtual machines has established its position as a key platform in the DeFi and NFT sectors, with potential to expand to DePin. However, it also faces practical challenges such as security vulnerabilities, with developers actively exploring various solutions, including Ethereum 2.0 upgrades and second-layer solutions.

Stablecoins and central bank digital currencies (CBDCs) play a crucial role in the modern financial system.

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