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Rosbank has brokered Russia’s first deal involving the exchange of tokenized #gold with the digital version of the Russian national #fiat currency, the ruble.
The successful transaction demonstrates the growing interest in #digital financial assets.
#crypto2023 #Binance
The successful transaction demonstrates the growing interest in #digital financial assets.
#crypto2023 #Binance
Bank of #Japan to launch pilot programme in April for issuing digital yen(#cbdc ).
The #Bank of Japan (BOJ) announced on Friday that it has chosen to begin a pilot programme in April to issue a #digital yen, taking the country, which is slow to adopt #digitalcurrency systems.
The #Bank of Japan (BOJ) announced on Friday that it has chosen to begin a pilot programme in April to issue a #digital yen, taking the country, which is slow to adopt #digitalcurrency systems.
#cryptonews : The Eurogroup confirmed its support for #digital euro research and noted that some of the design and use elements under consideration would require political decision-making. 👀
#crypto2023
#crypto2023
Explained : Distributed Ledger Technology (DLT)
Distributed Ledger Technology (DLT) is a digital system that allows for the secure and transparent sharing of information across a network of computers. DLT enables participants to maintain a decentralized database without the need for a central authority, which has the potential to revolutionize a wide range of industries. In this article, we will explore the various aspects of DLT, including its definition, types, benefits, and challenges.
What is Distributed Ledger Technology?
Distributed Ledger Technology is a #digital system that allows for the secure and transparent sharing of information across a network of computers. DLT is based on a decentralized architecture, which means that it operates without a central authority. DLT allows multiple parties to access and update a single database without the need for intermediaries, which makes it highly efficient and transparent.
Types of Distributed Ledger Technology
There are several types of Distributed Ledger #Technology , including:
#Blockchain : Blockchain is the most well-known type of DLT, and it is used to maintain a decentralized database of transactions that is secured using cryptography. Blockchain is used to power cryptocurrencies such as Bitcoin and Ethereum.
Directed Acyclic Graph (DAG): DAG is a newer type of DLT that is used to maintain a decentralized database of transactions. DAG does not use blocks, as in the case of blockchain, but instead uses a graph structure to maintain the database.
Hashgraph: #Hashgraph is a consensus algorithm that is used to maintain a decentralized database of transactions. Hashgraph uses a voting mechanism to reach consensus on transactions, which makes it highly efficient and scalable.
Benefits of Distributed Ledger Technology
Distributed Ledger Technology offers several benefits, including:
Transparency: DLT allows multiple parties to access and update a single database without the need for intermediaries, which makes it highly transparent.
Security: DLT is highly secure, as all transactions are encrypted and stored in a decentralized network of computers. This makes it virtually impossible for a single party to tamper with the database.
Efficiency: DLT is highly efficient, as it eliminates the need for intermediaries, such as banks, which can reduce transaction costs and increase processing times.
Traceability: DLT enables the traceability of transactions, which makes it easier to track the movement of assets and reduce the risk of fraud.
Challenges of Distributed Ledger Technology
Despite the numerous benefits of DLT, there are still several challenges that need to be addressed, including:
Technical Complexity: DLT is a complex technology that requires a significant amount of technical expertise to use and understand.
Scalability: DLT can struggle with scalability, as the larger the network, the more difficult it is to maintain consensus.
Regulatory Issues: DLT is still largely unregulated, which creates risks for users and potential legal challenges in the future.
Applications of Distributed Ledger Technology
There are several applications of Distributed Ledger Technology, including:
Cryptocurrencies: DLT is used to power cryptocurrencies, such as Bitcoin and Ethereum, which are decentralized digital currencies that allow for peer-to-peer transactions without the need for intermediaries.
Supply Chain Management: DLT is used to maintain a decentralized database of transactions in the supply chain industry, which enables greater transparency and traceability of goods.
Identity Management: DLT can be used to create a decentralized identity management system, which can increase the security and privacy of personal information.
Voting Systems: DLT can be used to create a decentralized voting system, which can increase the security and transparency of elections.
Future Prospects of Distributed Ledger Technology
Despite the challenges that DLT faces, there are several reasons to be optimistic about its future prospects. For example, as more people become aware of the benefits of DLT, adoption rates are likely to increase. Additionally, as DLT technologydeveloping, it is likely that many of the current challenges will be addressed, making DLT more accessible and user-friendly.developing, it is likely that many of the current challenges will be addressed, making DLT more accessible and user-friendly.
Another reason to be optimistic about the future of DLT is its potential to revolutionize many industries. For example, DLT can increase transparency and efficiency in the financial industry, which can reduce costs and increase accessibility for consumers. Additionally, DLT can enable new business models in industries such as healthcare and supply chain management, which can improve the quality and safety of products and services.
Final Words
Distributed Ledger Technology is a digital system that allows for the secure and transparent sharing of information across a network of computers. DLT offers numerous benefits, including transparency, security, efficiency, and traceability. Despite the challenges that DLT faces, such as technical complexity and scalability issues, it has the potential to revolutionize many industries and improve the lives of millions of people. As such, it is important for individuals and organizations to continue exploring the potential of DLT and investing in its development.
What is Distributed Ledger Technology?
Distributed Ledger Technology is a #digital system that allows for the secure and transparent sharing of information across a network of computers. DLT is based on a decentralized architecture, which means that it operates without a central authority. DLT allows multiple parties to access and update a single database without the need for intermediaries, which makes it highly efficient and transparent.
Types of Distributed Ledger Technology
There are several types of Distributed Ledger #Technology , including:
#Blockchain : Blockchain is the most well-known type of DLT, and it is used to maintain a decentralized database of transactions that is secured using cryptography. Blockchain is used to power cryptocurrencies such as Bitcoin and Ethereum.
Directed Acyclic Graph (DAG): DAG is a newer type of DLT that is used to maintain a decentralized database of transactions. DAG does not use blocks, as in the case of blockchain, but instead uses a graph structure to maintain the database.
Hashgraph: #Hashgraph is a consensus algorithm that is used to maintain a decentralized database of transactions. Hashgraph uses a voting mechanism to reach consensus on transactions, which makes it highly efficient and scalable.
Benefits of Distributed Ledger Technology
Distributed Ledger Technology offers several benefits, including:
Transparency: DLT allows multiple parties to access and update a single database without the need for intermediaries, which makes it highly transparent.
Security: DLT is highly secure, as all transactions are encrypted and stored in a decentralized network of computers. This makes it virtually impossible for a single party to tamper with the database.
Efficiency: DLT is highly efficient, as it eliminates the need for intermediaries, such as banks, which can reduce transaction costs and increase processing times.
Traceability: DLT enables the traceability of transactions, which makes it easier to track the movement of assets and reduce the risk of fraud.
Challenges of Distributed Ledger Technology
Despite the numerous benefits of DLT, there are still several challenges that need to be addressed, including:
Technical Complexity: DLT is a complex technology that requires a significant amount of technical expertise to use and understand.
Scalability: DLT can struggle with scalability, as the larger the network, the more difficult it is to maintain consensus.
Regulatory Issues: DLT is still largely unregulated, which creates risks for users and potential legal challenges in the future.
Applications of Distributed Ledger Technology
There are several applications of Distributed Ledger Technology, including:
Cryptocurrencies: DLT is used to power cryptocurrencies, such as Bitcoin and Ethereum, which are decentralized digital currencies that allow for peer-to-peer transactions without the need for intermediaries.
Supply Chain Management: DLT is used to maintain a decentralized database of transactions in the supply chain industry, which enables greater transparency and traceability of goods.
Identity Management: DLT can be used to create a decentralized identity management system, which can increase the security and privacy of personal information.
Voting Systems: DLT can be used to create a decentralized voting system, which can increase the security and transparency of elections.
Future Prospects of Distributed Ledger Technology
Despite the challenges that DLT faces, there are several reasons to be optimistic about its future prospects. For example, as more people become aware of the benefits of DLT, adoption rates are likely to increase. Additionally, as DLT technologydeveloping, it is likely that many of the current challenges will be addressed, making DLT more accessible and user-friendly.developing, it is likely that many of the current challenges will be addressed, making DLT more accessible and user-friendly.
Another reason to be optimistic about the future of DLT is its potential to revolutionize many industries. For example, DLT can increase transparency and efficiency in the financial industry, which can reduce costs and increase accessibility for consumers. Additionally, DLT can enable new business models in industries such as healthcare and supply chain management, which can improve the quality and safety of products and services.
Final Words
Distributed Ledger Technology is a digital system that allows for the secure and transparent sharing of information across a network of computers. DLT offers numerous benefits, including transparency, security, efficiency, and traceability. Despite the challenges that DLT faces, such as technical complexity and scalability issues, it has the potential to revolutionize many industries and improve the lives of millions of people. As such, it is important for individuals and organizations to continue exploring the potential of DLT and investing in its development.
⚡️#DressX , a #digital fashion firm, has announced the closure of the $15M Series A funding led by #Greenfield
Additional round participants included Slow Ventures, The Artemis Fund, Red Dao, and Warner Music. #Web3
Additional round participants included Slow Ventures, The Artemis Fund, Red Dao, and Warner Music. #Web3
Explained : What is SegWit? Its Advantages and Disadvantages (Must Read...)
Segregated Witness (SegWit) is a technology upgrade to the #Bitcoin network that was activated in August 2017. It was designed to solve some of the long-standing issues on the Bitcoin network, such as transaction malleability, block size limit, and network scalability. In this article, we will discuss the concept of SegWit, its advantages, its implementation, and its impact on the Bitcoin network.
What is SegWit?
SegWit is a technology upgrade that separates the #digital signature data from the transaction data in a block, allowing for more transactions to be processed in each block. This separation of data is achieved by introducing a new transaction format that moves the witness data (digital signature) outside of the transaction block, thus reducing the size of the transaction block. The increased block capacity allows for more transactions to be processed per second, making the network more scalable.
Advantages of SegWit:
There are several advantages of using SegWit on the Bitcoin network:
Transaction Malleability: SegWit solves the problem of transaction malleability by separating the signature data from the transaction data. This prevents malicious actors from altering the transaction ID, which could result in a double-spending attack.
Network Scalability: SegWit increases the block size limit to allow for more transactions to be processed per second. This improves the network's scalability and reduces transaction fees.
Lightning Network: SegWit is a critical component for the implementation of the Lightning Network, a layer-two payment protocol that allows for instant, low-cost transactions on the Bitcoin network.
Script Versioning: SegWit introduces script versioning, which allows for easier upgrades to the Bitcoin network without a hard fork. This makes it easier for developers to implement new features on the Bitcoin network.
Implementation of SegWit:
The implementation of SegWit involved a soft fork, which is a backward-compatible upgrade to the Bitcoin network. This means that the nodes that upgraded to SegWit can still communicate with the nodes that have not upgraded. The activation of SegWit required 95% of the mining nodes to signal their support, and it was activated on August 24, 2017.
Impact of SegWit on the Bitcoin Network:
Since the activation of SegWit, the Bitcoin network has experienced several positive changes:
Reduced Transaction Fees: The increased block size limit has reduced the number of unconfirmed transactions, resulting in lower transaction fees.
Faster Transactions: SegWit has improved the speed of #transactions on the Bitcoin network, making it faster and more efficient.
Increased Adoption: SegWit has been widely adopted by #wallets and #exchanges making it easier for users to send and receive Bitcoin.
Enhanced Security: SegWit has improved the security of the Bitcoin network by addressing the issue of transaction malleability.
Final Verdict:
SegWit is a significant technology upgrade to the Bitcoin network that has improved its scalability, speed, and security. Its implementation involved a soft fork, which was activated in August 2017. Since its activation, SegWit has had a positive impact on the Bitcoin network, resulting in reduced transaction fees, faster transactions, increased adoption, and enhanced security. With SegWit, the Bitcoin network has become more efficient, scalable, and ready for future developments.
What is SegWit?
SegWit is a technology upgrade that separates the #digital signature data from the transaction data in a block, allowing for more transactions to be processed in each block. This separation of data is achieved by introducing a new transaction format that moves the witness data (digital signature) outside of the transaction block, thus reducing the size of the transaction block. The increased block capacity allows for more transactions to be processed per second, making the network more scalable.
Advantages of SegWit:
There are several advantages of using SegWit on the Bitcoin network:
Transaction Malleability: SegWit solves the problem of transaction malleability by separating the signature data from the transaction data. This prevents malicious actors from altering the transaction ID, which could result in a double-spending attack.
Network Scalability: SegWit increases the block size limit to allow for more transactions to be processed per second. This improves the network's scalability and reduces transaction fees.
Lightning Network: SegWit is a critical component for the implementation of the Lightning Network, a layer-two payment protocol that allows for instant, low-cost transactions on the Bitcoin network.
Script Versioning: SegWit introduces script versioning, which allows for easier upgrades to the Bitcoin network without a hard fork. This makes it easier for developers to implement new features on the Bitcoin network.
Implementation of SegWit:
The implementation of SegWit involved a soft fork, which is a backward-compatible upgrade to the Bitcoin network. This means that the nodes that upgraded to SegWit can still communicate with the nodes that have not upgraded. The activation of SegWit required 95% of the mining nodes to signal their support, and it was activated on August 24, 2017.
Impact of SegWit on the Bitcoin Network:
Since the activation of SegWit, the Bitcoin network has experienced several positive changes:
Reduced Transaction Fees: The increased block size limit has reduced the number of unconfirmed transactions, resulting in lower transaction fees.
Faster Transactions: SegWit has improved the speed of #transactions on the Bitcoin network, making it faster and more efficient.
Increased Adoption: SegWit has been widely adopted by #wallets and #exchanges making it easier for users to send and receive Bitcoin.
Enhanced Security: SegWit has improved the security of the Bitcoin network by addressing the issue of transaction malleability.
Final Verdict:
SegWit is a significant technology upgrade to the Bitcoin network that has improved its scalability, speed, and security. Its implementation involved a soft fork, which was activated in August 2017. Since its activation, SegWit has had a positive impact on the Bitcoin network, resulting in reduced transaction fees, faster transactions, increased adoption, and enhanced security. With SegWit, the Bitcoin network has become more efficient, scalable, and ready for future developments.
The #world is rapidly evolving towards a fully #digital reality, with experts predicting that within the next 10 to 15 years, nearly every aspect of our lives will be integrated into the digital sphere. From finance and commerce to healthcare and education, the shift to a digital world is accelerating at an unprecedented pace, driven by advancements in blockchain technology, artificial intelligence, and the Internet of Things (IoT). As we move closer to this future, the importance of digital assets, like cryptocurrencies, continues to grow, positioning them at the heart of this transformation.
Binance is at the forefront of this digital revolution, providing the tools and platforms necessary to navigate this rapidly changing landscape. The future is digital, and those who embrace it now will be the pioneers of tomorrow. Prepare yourself for this inevitable shift by staying informed and involved in the world of digital assets.
#DigitalTransformation #BlockchainTechnology #CryptoFuturesLiquidations
Binance is at the forefront of this digital revolution, providing the tools and platforms necessary to navigate this rapidly changing landscape. The future is digital, and those who embrace it now will be the pioneers of tomorrow. Prepare yourself for this inevitable shift by staying informed and involved in the world of digital assets.
#DigitalTransformation #BlockchainTechnology #CryptoFuturesLiquidations
**Cryptocurrency in India: Latest Developments**
In recent months, the cryptocurrency landscape in India has experienced significant changes, reflecting both regulatory shifts and growing interest. The Indian government and financial regulators have been actively working on creating a clear framework for digital currencies, aiming to address concerns around security and market stability.
A major development came in August 2024, when the Reserve Bank of India (RBI) announced a new regulatory framework for cryptocurrencies. This framework includes guidelines for exchanges and digital wallet providers, aiming to increase transparency and protect investors from potential fraud. The RBI's move signals a more structured approach to managing the cryptocurrency market, which has been characterized by regulatory uncertainty in the past.
Additionally, India’s finance ministry is considering a digital rupee, a central bank digital currency (CBDC) that could potentially complement or replace existing cryptocurrencies. This initiative is part of a broader strategy to enhance financial inclusion and streamline transactions within the country.
Investor interest in cryptocurrencies remains robust despite regulatory changes. The Indian crypto market continues to attract substantial investment, with several startups and established firms expanding their operations. However, potential investors are advised to stay informed about regulatory developments and exercise caution given the volatile nature of digital assets.
As India navigates the evolving landscape of cryptocurrencies, these regulatory measures and innovations are set to play a crucial role in shaping the future of digital finance in the country.
#CryptoNewsCommunity #india_crypto #digital #BinanceSquareFamily
In recent months, the cryptocurrency landscape in India has experienced significant changes, reflecting both regulatory shifts and growing interest. The Indian government and financial regulators have been actively working on creating a clear framework for digital currencies, aiming to address concerns around security and market stability.
A major development came in August 2024, when the Reserve Bank of India (RBI) announced a new regulatory framework for cryptocurrencies. This framework includes guidelines for exchanges and digital wallet providers, aiming to increase transparency and protect investors from potential fraud. The RBI's move signals a more structured approach to managing the cryptocurrency market, which has been characterized by regulatory uncertainty in the past.
Additionally, India’s finance ministry is considering a digital rupee, a central bank digital currency (CBDC) that could potentially complement or replace existing cryptocurrencies. This initiative is part of a broader strategy to enhance financial inclusion and streamline transactions within the country.
Investor interest in cryptocurrencies remains robust despite regulatory changes. The Indian crypto market continues to attract substantial investment, with several startups and established firms expanding their operations. However, potential investors are advised to stay informed about regulatory developments and exercise caution given the volatile nature of digital assets.
As India navigates the evolving landscape of cryptocurrencies, these regulatory measures and innovations are set to play a crucial role in shaping the future of digital finance in the country.
#CryptoNewsCommunity #india_crypto #digital #BinanceSquareFamily
From the early days of bartering, where goods and services were directly exchanged, to the use of coins and paper currency that standardized value, money has undergone a continuous evolution. This journey saw the rise of banking systems, credit cards, and now, the rise of #digital currencies.
The latest evolution is being driven by $BTC and other cryptocurrencies, marking a revolutionary shift in how financial systems operate. #Cryptocurrencies , like Bitcoin, offer decentralized, peer-to-peer transactions that remove the need for intermediaries such as banks. This decentralization gives users greater control over their finances, with enhanced privacy and security features thanks to blockchain technology.
As traditional finance systems are increasingly integrated with these digital currencies, #Bitcoin is leading the next phase of financial evolution, introducing the world to decentralized finance (DeFi), tokenization, and the concept of borderless money.
$ETH #BTCSoarsTo68K #Litecoin
The latest evolution is being driven by $BTC and other cryptocurrencies, marking a revolutionary shift in how financial systems operate. #Cryptocurrencies , like Bitcoin, offer decentralized, peer-to-peer transactions that remove the need for intermediaries such as banks. This decentralization gives users greater control over their finances, with enhanced privacy and security features thanks to blockchain technology.
As traditional finance systems are increasingly integrated with these digital currencies, #Bitcoin is leading the next phase of financial evolution, introducing the world to decentralized finance (DeFi), tokenization, and the concept of borderless money.
$ETH #BTCSoarsTo68K #Litecoin
Instagram And Facebook To Cease NFT Bolster On April 11, 2023
#Facebook and #Instagram have stated that as of April 11, 2023, they would no longer support NFT. In other words, all digital objects on Instagram, including articles with digital items, will stop functioning.
The ability for users to post new digital objects will be removed and any items they have already shared will continue to exist as postings but without sparkles or #blockchain data. These posts may still be deleted by users at any time. If an article contains an item that can only be viewed in the profile's tab for digital objects, the article will be archived.
Additionally, users' profiles on Facebook and Instagram will no longer be connected to or linked to outside e-wallets. Users can no longer change their third-party e-wallet connection settings or access their digital items in the relevant tab.
In particular, consumers won't be able to access or download information about specific items after April 11, 2023. Users have until that date to file a request if they want to download their data. Digital item data, such as wallet addresses, will start to be removed from Facebook and Instagram's servers. In compliance with their terms of use and privacy policy for digital items, they will both retain and remove data.
As users will no longer be able to view or manage their digital things beyond the deadline of April 11, 2023, this is a significant development for users of Instagram. Users who have spent money and time on the platform creating and collecting digital products will need to find new arrangements. Since more social media platforms are embracing #digital collectibles, it is unclear how this would effect the larger #NFT ecosystem.
This news is republished from https://coinaquarium.io/
The ability for users to post new digital objects will be removed and any items they have already shared will continue to exist as postings but without sparkles or #blockchain data. These posts may still be deleted by users at any time. If an article contains an item that can only be viewed in the profile's tab for digital objects, the article will be archived.
Additionally, users' profiles on Facebook and Instagram will no longer be connected to or linked to outside e-wallets. Users can no longer change their third-party e-wallet connection settings or access their digital items in the relevant tab.
In particular, consumers won't be able to access or download information about specific items after April 11, 2023. Users have until that date to file a request if they want to download their data. Digital item data, such as wallet addresses, will start to be removed from Facebook and Instagram's servers. In compliance with their terms of use and privacy policy for digital items, they will both retain and remove data.
As users will no longer be able to view or manage their digital things beyond the deadline of April 11, 2023, this is a significant development for users of Instagram. Users who have spent money and time on the platform creating and collecting digital products will need to find new arrangements. Since more social media platforms are embracing #digital collectibles, it is unclear how this would effect the larger #NFT ecosystem.
This news is republished from https://coinaquarium.io/
- A quiet revolution is underway in the financial landscape due to advancements in fintech and #decentralized finance (DeFi), as reported by Decrypt.
- Bitcoin's recovery from lows is exemplifying the realization of its potential to improve #financial systems with faster settlement times and reduced costs.
- Innovations like Gnosis Card and Gnosis Pay are enabling the easy integration of self-custodial crypto wallets into everyday transactions.
- Monerium's regulated, euro-pegged stablecoin, EURe, comes with an IBAN for seamless user transactions, highlighting the mainstream integration of digital currencies.
- The examples showcase the progressive blending of #digital currencies with conventional financial services.
- As #technology evolves, regulatory frameworks must adapt to keep up with the rapidly changing financial landscape.
- Blockstream, a Bitcoin infrastructure company, aims to raise up to $50 million for the acquisition and storage of undervalued mining equipment on the secondary market.
- Collaborating with STOKR, a Luxembourg-based digital securities marketplace, Blockstream plans to launch Blockstream ASIC (BASIC) notes.
- The company's Head of Mining Sales, James Macedonio, revealed the plan to start by raising $5 million for Series 1 BASIC notes.
- Each BASIC note, valued at $115,000, will fund the large-scale procurement and storage of ASICs.
- The acquired equipment will be resold as #hardware demand increases in 2024, offering a 24-month investment opportunity.
- Accredited international investors will have the opportunity to participate in this investment note.
- Delphi Digital's co-founder, Kevin Kelly, believes the ongoing crypto market activity isn't just another bear market rally.
- Kelly's perspective contrasts with cautious sentiments due to factors like rising interest rates, inflation, and recession concerns.
- He argues that crypto markets are forward-looking, as evident in 2023 prices.
$BTC $ETH $BNB
- Bitcoin's recovery from lows is exemplifying the realization of its potential to improve #financial systems with faster settlement times and reduced costs.
- Innovations like Gnosis Card and Gnosis Pay are enabling the easy integration of self-custodial crypto wallets into everyday transactions.
- Monerium's regulated, euro-pegged stablecoin, EURe, comes with an IBAN for seamless user transactions, highlighting the mainstream integration of digital currencies.
- The examples showcase the progressive blending of #digital currencies with conventional financial services.
- As #technology evolves, regulatory frameworks must adapt to keep up with the rapidly changing financial landscape.
- Blockstream, a Bitcoin infrastructure company, aims to raise up to $50 million for the acquisition and storage of undervalued mining equipment on the secondary market.
- Collaborating with STOKR, a Luxembourg-based digital securities marketplace, Blockstream plans to launch Blockstream ASIC (BASIC) notes.
- The company's Head of Mining Sales, James Macedonio, revealed the plan to start by raising $5 million for Series 1 BASIC notes.
- Each BASIC note, valued at $115,000, will fund the large-scale procurement and storage of ASICs.
- The acquired equipment will be resold as #hardware demand increases in 2024, offering a 24-month investment opportunity.
- Accredited international investors will have the opportunity to participate in this investment note.
- Delphi Digital's co-founder, Kevin Kelly, believes the ongoing crypto market activity isn't just another bear market rally.
- Kelly's perspective contrasts with cautious sentiments due to factors like rising interest rates, inflation, and recession concerns.
- He argues that crypto markets are forward-looking, as evident in 2023 prices.
$BTC $ETH $BNB
Decentralized autonomous organization (DAO) tomi, which is aiming to build an alternative internet network, has raised $40 million led by digital asset market maker DWF Labs. #DAO #digital #crypto2023