Cryptocurrency

Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro. They can be used as a form of payment, as well as to trade in and out of other tokens, such as bitcoin, on crypto exchanges.”The main purpose is actually creating an optionality towards the U.S. dollar,” Tether CEO Paolo Ardoino said during an event in Dubai, adding that he believed the dirham would become a preferred currency as global trade shifts.”We see a lot of interest in holding AED (dirham) outside of the UAE,” he said, citing the stability and safety of both the country and its balance sheet.The UAE is pushing to become a global hub for the crypto industry as economic competition heats up in the Gulf region.It has been quick to enable cryptocurrency payments in areas like real estate and school fees, boosting rates of adoption and transaction volumes while developing virtual asset regulation in both the capital Abu Dhabi and in Dubai. Regulators have long warned about market risks from the adoption of crypto assets. The U.S. has said stablecoin reserves could be subject to rapid outflows, for example if holders rushed to exchange tokens back into traditional currencies.Tether’s eponymous dollar-pegged stablecoin (USDT) is designed to maintain a constant value of $1 and is widely used in crypto-to-crypto trading.There is around $117 billion of the token in circulation, making up the bulk of the $169 billion stablecoin market, according to CoinGecko data.Tether also provides stablecoins pegged to other currencies such as the euro and said in a statement on Wednesday that the dirham stablecoin would be “fully backed” by liquid UAE-based reserves. It will be launched in collaboration with Abu Dhabi-listed cryptomining and blockchain conglomerate Phoenix Group and “with support” from investment firm Green Acorn Investment, Tether and Phoenix said. The two firms did not provide a specific date for the product launch but Ardoino said licensing by the UAE Central Bank would take a few months. More

The BPV (Block Property Vanguard) Foundation has announced the launch of the closed beta test (CBT) for its mobile-exclusive P2E (Play-to-Earn) game ‘Defense&Steal War’ starting August 20, 2024, for five days. This CBT follows the successful listing of the DSWAR token on the DigiFinex Global exchange on June 25, which has garnered significant attention within the gaming community.’Defense&Steal War’ is a strategy game built on the Solana blockchain, where players can develop characters, enhance weapons, and upgrade zombies to engage in battles across Defense Mode and Steal Mode. Players who win battles are rewarded with Play Points (P.P), which can be swapped for DSWAR tokens. Currently, the DSWAR token is trading on DigiFinex at a price range of 0.05 USDT to 0.07 USDT.The BPV Foundation plans to showcase the game’s battle system, character growth, and enhancement features during the CBT. In the upcoming Open Beta Test (OBT) scheduled for November, additional features such as NFT (Non-Fungible Token) functionality and a trading system will be unveiled. The game will feature two types of NFTs: LAND and PLANT, which can be purchased with USDT and DSWAR tokens, respectively. Holding these NFTs will grant players NFT Points (N.P), which can be exchanged at a 1:1 ratio for DSWAR tokens.The total number of NFTs available in ‘Defense&Steal War’ is limited to 390,000, positioning them as a critical element for enhancing the game’s growth potential. These NFTs will also be tradable among players, adding further value.Blockproperty Vanguard Corp is a game developer located in the Advanced Tower Building, First floor, Ricardo Arias Street, Panama City, Republic of Panama.Users can follow on X, Telegram, Discord and YouTube.ContactCEOJason SeokFirst G Inc.ceo@firstg.coblockpropertyvanguard@gmail.comThis article was originally published on Chainwire More

As Bitcoin remains close to this crucial level, traders and enthusiasts alike are watching closely. The bullish momentum needed for this breakthrough seems to be building up, and once it breaches this $61,000 mark, the path to $70,000 could be clear. Bitcoin’s resilience in the face of resistance shows the strength of the ongoing uptrend.Anticipation is growing as market participants prepare for the possibility of Bitcoin hitting $70,000. The level of resistance above $61,000 is seen as the last major hurdle before Bitcoin could rally to this new milestone. Traders may expect that, once cleared, there will be little to no resistance on the way to $70,000. This potential breakout could be a significant moment for Bitcoin, reinforcing its position on the market and possibly setting the stage for further gains.Bitcoin’s approach to $61,000 could lead to a rapid advance to $70,000, provided that this resistance level is successfully breached. The market’s outlook remains optimistic as Bitcoin is still consolidating instead of entering a correction.This situation is creating bearish sentiment around Solana, which keeps its price from gaining upward momentum. The possibility of Solana being reclassified as a stock is not just speculation but a real threat that looms over the market.A considerable price decline might follow if the SEC decides to act on this potential reclassification. Solana’s price has been struggling to maintain its position because of this ongoing uncertainty. Traders might be hesitant to invest in Solana until there is clarity from the SEC, which is contributing to the downward pressure on the price.The SEC’s potential actions could trigger a sell-off among investors, who fear that Solana might be deemed a security. The market is on edge, waiting for any new developments that could impact Solana’s future. As long as this uncertainty persists, Solana’s price will likely remain under pressure, unable to break through its current resistance levels.In summary, Solana is being kept down by the looming threat of SEC intervention, which is a significant concern for investors. This uncertainty is causing bearish sentiment.Toncoin’s ability to overcome this resistance might be signaling the start of a new bullish phase. Traders might be watching closely as the asset begins to gain momentum. If this upward trend continues, we could witness a significant surge in Toncoin’s value.A possible rally could follow this breakthrough, and traders are likely considering the potential for further gains. This key resistance level has been a major barrier, but now that it has been broken, the path ahead might be more favorable for Toncoin. As the market reacts to these movements, anticipation grows around the possibility of a massive bull run beginning once again.While the immediate future remains uncertain, Toncoin’s recent performance indicates that a strong upward trend could be in the cards. Investors may need to keep a close eye on the market’s behavior over the next few days to see if this momentum continues.This article was originally published on U.Today More

This article was originally published on U.Today More

According to Bitcoin historian Pete Rizzo, this email was the first recorded communication between Satoshi Nakamoto and Adam Back regarding Bitcoin.The entire email thread, which included five emails between Hashcash inventor Adam Back and Bitcoin creator Satoshi Nakamoto, was made public after being filed into official court documents in the United Kingdom in February of this year.Satoshi Nakamoto first emailed Adam Back on this date 16 years ago about Bitcoin, four months before its official launch. A day after, on Aug. 21, 2008, Adam replied, suggesting that Satoshi investigate a paper called “B-money” by Wei Dei. Dei was a well-known cryptographer working on digital cash and is a frequently cited candidate for Satoshi.Satoshi and Back would later exchange correspondence in the third and fourth emails. In the third email, Satoshi thanks Adam and they discuss the B-money idea. In the fourth email, Adam apologizes for not reading the Bitcoin whitepaper and then directs Satoshi to another paper called “Micromint.”The final email was sent on Oct. 1, 2009, where Satoshi thanked Back again and informed him about Bitcoin’s formal software release. According to Adam’s public statements, he would not look at Bitcoin again until late 2012.The price of the biggest cryptocurrency by market capitalization was last higher by 2.78% at $60,541, according to CoinMarketCap, rising above the $56,000 floor that has supported it for much of this year.Ethereum advanced 2% to $2,640, while several cryptocurrencies are likewise trading in green. Dogwifhat’s WIF token was up 17%, while PEPE advanced 11% in the last 24 hours.This article was originally published on U.Today More

Since breaking above the $70,000 threshold earlier this year, Bitcoin price remained largely range-bound in the following months.The world’s largest cryptocurrency’s volatile performance has mainly been driven by mixed economic data, unexpected developments related to the upcoming presidential election, and several more crypto-focused factors, such as repayments to creditors of Mt. Gox, a defunct cryptocurrency exchange.Bitcoin price saw a sharp pullback in early August after a surprisingly soft July jobs report triggered recession fears, denting investor sentiment toward risk assets. Equities also fell notably at the time.The downturn marked a substantial shift for the crypto sector, which had recently been buoyed by optimism surrounding the approval of exchange-traded funds (ETFs) linked to the spot prices of bitcoin and ETH/USD.Sentiment had also been boosted by Republican presidential candidate Donald Trump’s pro-crypto speech at a bitcoin conference last month.Bitcoin fell to its lowest level in almost six months, while Ether plummeted to its lowest point since January.Although its price recovered notably, the premier cryptocurrency struggled to make significant upward moves since the pullback. The sharp drop pushed Bitcoin price below the crucial support level marked by the 50-day simple moving average (SMA). Although there have been multiple efforts to regain this level, none have succeeded in triggering a sustained upward trend.On August 15, Bitcoin managed to climb back to the $59,000 mark, driven by expectations of the first interest rate cuts by the U.S. Federal Reserve in September. Lower rates are favorable for crypto and other risk assets because they lower the cost of borrowing, encourage investment, and typically weaken the dollar, which can drive investors to seek higher returns in alternative assets like cryptocurrencies.However, despite repeated attempts to push the price above $60,000, strong resistance has consistently halted further gains.In light of recent developments, here is what crypto experts have to say regarding the BTC price forecast.“We can expect innovative wrapped versions of Bitcoin, like sBTC, cbBTC, and zBTC, to play a significant role in bringing Bitcoin into the next phase of its evolution. This could very well be the trigger that prompts holders to increase their BTC positions for yield generation, especially on high-performance chains like Solana,” said Justin Wang, founder and CEO of Zeus Network.”As we approach the end of 2024, Bitcoin is likely to experience range-bound price action, influenced by these macroeconomic and regulatory developments. While a new all-time high above $73,000 could be possible, this would depend on a series of positively perceived events, such as progress toward the Fed’s 2% inflation target, renewed investor interest, and favorable stablecoin legislation,” commented Kristian Haralampiev, Structured Products Lead, Nexo.Lastly, Stefan Godly from fundraising platform Trailblaze told Investing.com, “The bitcoin price follows fundamentals more than anything else and those tell us the price is going to rise continuously. The volatility on top of the fundamental growth in value is mainly noise and thus distracting retailers and private investors in order to shake them out into losses.””Despite FUD in the media – It doesn’t matter whether the ETF elections or any other FOMO theory which will come up; all this is only storytelling to keep the mind busy. The real value is in the long-term position of this unique asset as a hedge and store of value.” More

The famous intellectual also made a stunning AI prediction, suggesting his own interpretation of this famous abbreviation.Harari stated that the AI abbreviation should be deciphered not as “artificial intelligence” but as “alien intelligence.” He said that there is nothing artificial about AI. Its new forms are developing on their own. The philosopher is definite that AI is capable of producing a different kind of creativity, and “precisely because of that, it’s really going to be a game changer in so many fields.”Harari believes that this will even be true of the finance field. The philosopher considers financial devices as “a kind of art form.” Here he named such financial tools as bonds, currency and Bitcoin, stating that the people who came up with the ideas of creating them had shown outstanding creativity. “It’s sort of art. Very creative. Very imaginative,” he said. Therefore, Harari expects artificial intelligence in the future to come up with “new types of financial devices that no human being would ever imagine creating.”The intellectual pointed out that this is “an alarming development” since money was invented with a goal of creating trust between strangers.”I understand the causes for this distrust, but it is an alarming development,” Harari pointed out.This article was originally published on U.Today More

Tari Labs, an organization stewarding the development of Tari, a next-generation blockchain protocol, today introduced Tari Universe, a groundbreaking mining application designed to make it easy for anyone to join the crypto revolution. Tari Universe leverages RandomX, an ASIC-resistant hashing algorithm, enabling users to mine Tari with their existing Mac or PC. Say goodbye to the UX barriers of crypto—Tari Universe’s magical interface makes mining accessible to everyone. Users can simply download Tari Universe for free, install it, and click “start mining” to earn Tari tokens.In a world where inflation is out of control and many people are struggling, mining crypto presents a great opportunity for everyone.”Tari Universe is the beautifully simple crypto product that will finally get me out of my shell,” said Soon™, the Turtle, Tari’s official mascot. “We all want mass adoption to happen, yet, as an industry, we keep designing complicated products that require users to KYC and jump through countless hoops to participate. Tari Universe changes everything. It’s a one-click marvel that my mom can use.”Tari Universe Makes Mining FunTari Universe brings the game of Proof-of-Work mining to life. Proof-of-work mining is a race to be the first to solve the next block, earning the block reward and all the glory. Tari Universe represents the Tari blockchain as a sleek tower and every block as a floor. Users will watch as their Tribe races to build the next floor before anyone else. When they win, they all share in the spoils. Tari Universe makes it easy for anyone to understand how blockchains work and enjoy Proof-of-Work mining.Tari Universe Makes Mining FairTari Universe uses p2pool decentralized pool software to introduce Tribes—a group of users working together to solve blocks. When a user first launches Tari Universe, they automatically join a Tribe. No configuration or added steps are required. Best of all, there are no pool fees, and users won’t need to trust a pseudonymous pool operator with their block rewards. Combined with the ASIC-resistant properties of RandomX, Tari Universe makes mining fair for everyone.Tari Universe is Maximum DecentralizationTari Universe is a breath of fresh air in a world filled with centralized sequencers and small cabals of “independent” node operators. Anyone can download Tari Universe for free, install it, and run it on their existing Mac or PC. No expensive or custom hardware is needed, and users don’t have to be members of the gilded cabal. Tari Universe is permissionless, freedom-enhancing, and will help make Tari wildly decentralized from day one.Tari Universe is Your Homebase for CryptoTari Universe includes an automated update feature to give users instant access to groundbreaking new features. As the world of Tari expands, Tari Universe will become the ultimate one-stop shop for crypto. Tari Universe is the one-click crypto revolution for everyone.AvailabilityTari contributors will release Tari Universe for the Tari testnet in September 2024. The version that supports the Tari mainnet will be released soon to coincide with the mining of the Tari genesis block. The platform will automatically upgrade users of Tari Universe on the Tari testnet to the mainnet version. Tari Universe will run on nearly any modern-day Mac or PC. Tari contributors aim to make Tari Universe as accessible as possible. They urge anyone interested in Tari Universe to join the waitlist by visiting universe.tari.com. Users can improve their position on the waitlist by inviting their friends to join.Learn More about Tari Universe, Tari, and Tari LabsTo learn more about Tari Universe and join the waitlist, please visit universe.tari.com.Tari is a revolutionary layer 1 blockchain protocol that empowers anyone to become an on-chain user simply by mining on their laptop or desktop. For developers, Tari offers infinite scalability, fast finality, and low fees of a high-performance native L2, combined with unprecedented access to on-chain users through an app launcher built into the Tari mining application.Tari Labs is an organization that helps steward Tari’s development. Supporters of Tari Labs include Blockchain Capital, Multicoin, Pantera, CMT Digital, Slow Ventures, DV Chain, and many other leading investors in our industry.ContactContributorDan MulliganTari Labsvash@tari.comThis article was originally published on Chainwire More