CNF Brief: 5 of the week’s biggest stories
- R&D has engulfed Shiba Inu’s development after a lead developer revealed a significant flaw in the development of Shibarium.
- Bitcoin continues to lead the crypto market after a 30 percent increase in the last 7 days, in total the broader market has reached a market capitalization of $1.16 trillion.
Bitcoin has risen by around 30 percent over the past seven days, taking the entire market with it. At press time, the broader crypto market is worth over one trillion. Much of the gain comes from the collapse of the US banking system. Over the past couple of weeks, at least three banks – Silvergate, Silicon Valley and Signature – have wrongly validated Bitcoin’s need and purpose, sparking new demand for the digital asset.
In addition, technical developments and continued partnerships that accelerate the growth of blockchain and cryptocurrency technology continue to be seen in most top projects. In the latest CNF brief, we take a look at the biggest stories in Shiba Inu, Cardano, IOTA, the Bitcoin surge and the Ripple case.
Shiba Inu Metaverse team launches new website and photos, sparks optimism for SHIB
The Shiba Inu team has launched a new Shib.io website with updated Shiba Inu the metaverse branding. The site offers users the ability to purchase Shiba Inu metaverse lands using a purchase system that displays a map of available lands. Only 36,431 countries will be unlocked for purchase during the first phase, with a total of 100,595 countries available in the long term. Users can avoid paying more gas fees by using the website’s one-click embossing system. However, users must set up and use a MetaMask wallet to participate in land purchases or bidding.
The Shiba Inu community is also facing community-centric chaos due to a code bug involving the Shibarium Beta chain ID, which the developers are working to fix… Read More
IOTA 2.0: Senior software engineer outlines research findings on technology robustness
The IOTA Foundation is developing IOTA 2.0, an architecture that aims to improve the performance of the IOTA blockchain by offering better scalability, security and decentralization. IOTA 2.0 will be a permissionless blockchain that allows anyone to join the platform with no minimum stake requirements.
Dr. Bing-Yang Lin, Senior Software Engineer at #IOTA Foundation, just presented some initial research results on the robustness of the IOTA 2.0 consensus mechanism! 👀
Non-technical summary below! 👇🧵 pic.twitter.com/C3fTX7SDa2
— IOTA Penguin ✨ (@iota_penguin) March 15, 2023
The architecture will provide scalability up to 10,000 nodes and 1000 mps, making it suitable for sharding solutions. IOTA 2.0 will address challenges with the current IOTA network, including non-linearity, feasibility and Sybil protection, through a more robust voting mechanism that provides better confirmation times and resistance to bait-and-switch attacks…Read More
Cardano’s Djed outperforms Tether’s USDT as whales go on buying spree
DJED stablecoin, launched on the Cardano (ADA) protocol, has outperformed Tether (USDT) in terms of current price action, reaching $1.08 per token, and is considered one of the few over-leveraged assets in the industry, trading at a 1. % increase against USDT.
The Cardano whales have been on a buying spree, taking advantage of the “Buy the Dip” strategy and resulting in a bullish uptrend, with Cardano changing hands at a spot price of $0.3487, up 13.30% from the last couple of days . Cardano’s future is tied to DJED in the long term, as both protocols are intertwined and Cardano aims to displace Ethereum as the largest hub for smart contracts…Read More
Bitcoin defies expectations and outperforms stocks and gold
Bitcoin (BTC) has put in a solid performance with strong gains this week, up over 30 percent on the weekly chart, while all three major Wall Street indexes have been in negative territory. Despite uncertainty in the global banking sector and events such as the decoupling, Bitcoin has shown resilience and disconnection from the traditional financial system.
Several Bitcoin proponents believe it gives investors a way to hedge against central bank moves and protect their savings from inflation. Bitcoin’s correlation to the Nasdaq has fallen to a one-year low, while the BTC price is up 50 percent so far in 2023, outperforming broader indices on Wall Street…Read More
SEC vs. Ripple on its way to the Supreme Court in the XRP case
John Deaton, a pro-Ripple lawyer and founder of CryptoLaw, has stated that the recent attacks on the crypto industry are coordinated politically and financially. In a recent video, Deaton also discussed the SEC v Ripple case, stating that the regulator used fraud-related language, despite the case being a non-fraud case. Deaton advises crypto traders, investors and all stakeholders to fight by seeking clarity in the court until there is regulatory clarity in the industry.
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JW Verret, an associate professor of law, also appeared on the show and stated that there is a greater chance that the Ripple case will go to the Supreme Court if the SEC does not become reasonable. Verret further explained that the SEC is trying to treat tokens from decentralized networks as securities, which is unreasonable… Read More
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