Author: Staff

Categories
Business

IMF Urges El Salvador to Remove Bitcoin’s Legal Tender Status

El Salvador’s proposal to make bitcoin legal tender has been questioned by the International Monetary Fund’s board, which has also called for stringent oversight of the country’s electronic wallet.

Following a yearly meeting on Tuesday, IMF board members “urged the authorities to reduce the scope of the Bitcoin law by removing bitcoin’s legal tender status,” the IMF said in a statement.

Alejandro Zelaya, the Salvadoran Finance Minister, did not respond.

El Salvador became the first country to make bitcoin, along with the US dollar, legal tender in September. For the past two decades, the country’s economy has become dollarized.

The IMF has advocated for the move to be reversed several times since then, citing financial, economic, and legal problems.

The IMF’s board of directors stated that increasing financial inclusion was critical and that the Chivo e-wallet, the government’s bitcoin exchange, may help. They do, however, believe that “the new environment needs stringent regulation and oversight.”

According to the IMF, several board members are concerned about the risks involved with El Salvador’s planned sale of bitcoin-linked bonds.

The country is planning a $1 billion bond offering, with half of the proceeds going toward bitcoin purchases. The government hopes that the exposure to bitcoin gains would attract investors who will receive a dollar yield of 6.5 percent, which is significantly lower than what the market is presently pricing for equivalent Salvadoran government debt, which is closer to 17 percent.

In its statement, the IMF also cautioned that El Salvador’s national debt may reach 96 percent of GDP by 2026 if current debt spending levels are maintained, describing this as an “unsustainable course.”

Categories
Business

Bitcoin falls below $40K, Ethereum below $3K as Crypto Pullback Worsens

Bitcoin (BTC) has had a rough start to the new year, dropping below $40,000 for the first time since August 2021.

The world’s most valuable cryptocurrency by market capitalization fell 4.2 percent in the last day, momentarily touching $39,866.71; it has subsequently rebounded somewhat to just beyond the symbolic $40,000 barrier.

Since January 1, 2022, Bitcoin has lost around 14% of its value. The flagship cryptocurrency has plummeted by 41% since its all-time high of $69,000 in November of last year.

Simultaneously, the price of Ethereum (ETH) dropped below $3,000 on Monday, reaching depths not seen since September of last year.

According to CoinGecko data, the industry’s second-largest cryptocurrency has lost 4.8 percent of its value in the last 24 hours and as much as 21.5 percent in the last week.

At press time, Ethereum was trading at $2,950, down from a daily high of $3,227. Ethereum reached an all-time high of $4,878 just two months ago on November 10; however, recent price activity shows that the commodity has lost 38% of its value since then.

Despite the adverse circumstances surrounding Ethereum, the non-fungible token (NFT) market has continued to grow.

For example, the top NFT marketplace OpenSea just had its second-best month in terms of transaction volume last week. Its most recent funding round valued the company at $13.3 billion.

Bears tackle Bitcoin

There are a variety of reasons why Bitcoin may have gotten off to a shaky start in 2022, ranging from upheaval in Kazakhstan to controversial Crypto.com commercials to Federal Reserve decisions.

Despite the fact that we are only a few weeks into the new year, Bitcoin has already sparked debate.

Political upheaval erupted in Kazakhstan on January 2, 2022, in the town of Zhanaozen, after the government relaxed a price cap on liquefied petroleum gas, causing gas prices to nearly treble.

The ensuing turmoil was met with a statewide Internet outage, which apparently knocked off a large portion of the world’s Bitcoin miners. As a result, Bitcoin’s price has been steadily declining throughout January.

On January 5, the Federal Reserve of the United States (Fed) announced that it may speed up the pace of interest rate hikes. This essentially indicates that the Fed will stop printing money and instead raise borrowing costs in order to keep inflation under control.

After the news emerged, the price of bitcoin, Ethereum, and the entire crypto market value all dropped.

For the first two weeks of the new year, unrest in Kazakhstan and interest rate hikes may be plenty, but it doesn’t end there.

The mainstream discovered Crypto.com’s Matt Damon ad, which has been airing since October, throughout 2022’s brief existence.

The rest of the world was unimpressed.

On January 3, Guardian writer Carole Cadwalladr wrote, “There isn’t enough icky in the world to describe Matt Damon advertising a Ponzi Scheme.”

Crypto critic Stephen Deihl remarked, “I just can’t get over the unadulterated nihilism that indicates investing in dog coins is like investing in the moon landing.”

Categories
Technology

OpenSea reportedly hacked for $780,000

OpenSea, the world’s largest NFT marketplace, has been hacked for 332 ETH, according to reports.

Peck Shield, a blockchain security business that aspires to improve the security, privacy, and usability of the whole blockchain ecosystem, announced this in a tweet.

The dollar sum comes to $780,200 at today’s market price of $2,350 per Ether.

“It appears that @opensea has a front-end problem, and the exploiter acquired roughly 332 Ether,” the tweet states. The hack’s Ether Scan transaction ID was included in the tweet.

Details of the hack

The hack was reportedly caused by a weakness in the front end of OpenSea, one of the world’s largest markets for Non-fungible Tokens (NFTs), which allowed users to acquire popular NFTs at their former listing price.

The exploiter appears to have purchased NFT items from the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) at their previous listed price and then sold them for the current market price. BAYC #9991, BAYC #8924, and MAYC #4986 are among the NFTs that are affected.

A user dubbed ‘jpegdegenlove’ is suspected of profiting $332 Ether (ETH) ($780,000) by exploiting the present issue. OpenSea has been silent on the subject.

An earlier vulnerability on December 31st, 2021, saw a similar scenario, where a problem appears to occur from the transfer of assets from the OpenSea wallet to another wallet without canceling the listing.

What are they saying?

‘cap10bad,’ a Twitter user, detailed why the hack occurred in a Twitter trend. According to him;

  • “1/ Recently there’s been an @opensea exploit that has allowed for assets to be purchased at greatly discounted prices, including 3 freshdrops passes, a BAYC, multiple MAYCs, and more. I did some research this morning and here’s what’s happening.
  • “2/ If an OS user lists an NFT for sale and later decides they don’t want that listing to be active anymore, the OS will charge for delisting. This can be costly, especially if the price was lowered multiple times, so users have found a workaround -> transfer to another wallet.
  • “3/ This effectively cancels the listing in OS and the user transfers the item back to the original wallet, no damage done right? Wrong.
  • “4/ The item may not show the listing on OS, but it is in fact still active through OS’s API. The quickest way to view these old listings is on Rarible, which uses OS’s API to display and fulfill OS’s listings.
  • “5/ The old, presumed canceled, listing displays as active on Rarible and are fulfillable. An example of my X-Punk next I created a listing on OS, transferred to another wallet, and back. No listing is shown on the OS. This is how it’s expected to work.
  • “6/ However if you view the same asset on Rarible, you’ll see it’s listed for O.25 ETH, which is what I listed on an OS before transferring!
  • “7/ OS has been notified about this bug, but nothing has been done about it yet. Please be careful out there and you might want to go check your assets on Rarible before it’s too late!”

The defect was allegedly flagged following the December 2021 occurrence, but the platform did nothing to resolve the problem, according to the user.

With OpenSea, the NFT market has been expanding, with monthly transaction volume in Ether (ETH) surpassing $3.5 billion for the first time ever last week. OpenSea has now eclipsed the all-time high of $3.42 billion achieved in August 2021, according to data from Dune Analytics, to record a new all-time high. Its trade volume is now estimated to be around $4.8 billion.

Categories
Opinions

5 Reasons Twitter NFT Profile Pictures Matter

This year, the NFT community has been on a roll, with record-breaking wins to now the ability to make your NFT your Twitter profile image. Isn’t that amazing? You could have done so previously, but now you can prove that you own it using blockchain, and Twitter will reward you with a hexagon around it. It’s also only available to Twitter Blue subscribers, on iPhones, and in the United States, Canada, Australia, and New Zealand. And it’s exclusively for Ethereum-based NFTs stored on OpenSea.

This feature was “full of promise” but also “fraught with hazard” when Twitter initially teased it four months ago. Now that the feature is live, there are 5 reasons to pay attention to how it goes, whether you’re a Bored Ape collector tweeting “wagmi” and “looks uncommon” every day, or a diehard NFT hater threatening to boycott every game-maker that uses NFTs, or somewhere in between.

  1. The feature helps show people how NFTs work.

There are a number of people who are still confused about how NFTs work, some people still think you can easily click on an NFT and save it; which is not the case. Anyone with enough patience will usually explain that non-fungible tokens are blockchain-based ownership certificates, and that anyone can screenshot and display them, but it does not make them yours. Only the owner of an NFT can confirm that they own it by tapping into the Ethereum blockchain and receiving the verified hexagon, as Twitter’s functionality demonstrates rather than tells.

  1. The divide between NFT fanatics and NFT haters is getting worse.

Let us be fair, there are a number of people that hate NFTs, in this category, the loudest “haters” are the gamers and this hatred isn’t going anywhere anytime from now. With the way Twitter is now displaying the NFTs, this NFT hatred movement may get stronger. “Twitter just asked me if I wanted to make my pfp an NFT. I’m shaking. I’m throwing up. I’m weeping. I just want to go back in time before those nerds made this shit widespread,” Emma Langevin, a Twitch broadcaster with 725,000 followers, tweeted. More mockery can be found by searching “hexagon” on Twitter. Another Twitch streamer, Ross O’Donovan, suggested that people “create a tool that autoblocks everyone with a hexagon profile image.” The hexagon PFP was compared by another as a “kick me” sign.

They may or may not be incorrect. I joined Twitter Blue for the purpose of this column and chose one of my two NFTs as my profile image. It was a bit of a letdown. I enjoy the NFT (it’s a Satoshible) and the art; but, I don’t like it as my profile photo, and the hexagon surrounding it bothers me. However, I am not a crypto anon who utilizes my NFT as my sole online identity.

  1. The NFT crowd isn’t entirely happy with the future.

On Thursday, I watched “Did Twitter Just Use Us to Sell a Feature Without Prioritizing Our Needs?” on Twitter Spaces. NFT fans protested in a three-hour debate that Twitter was utilizing the NFT feature to sell Twitter Blue subscriptions. Twitter is a business with shareholders, and it needs to make revenue, as capitalists might remind them. However, this is something to keep an eye on: The functionality will be a failure if even NFT aficionados abandon the verified NFT PFPs.

  1. The feature marks Twitter even more as a pro-crypto company

Twitter isn’t exactly a Web3 firm yet—it won’t be until it runs on a blockchain—but its embrace of NFT profile pictures and crypto tipping sends up a signal. Following the departure of Bitcoin maximalist Jack Dorsey, some observers wondered if Twitter would abandon cryptocurrency. Rather, it delved deeper, going beyond Bitcoin. Even still, the majority of Twitter stockholders will be unhappy. When Facebook and Square changed their names to Meta and Block, their stock prices plummeted. The NFT launch had no effect on Twitter’s shares, which plummeted 9% this week.

  1. Twitter just gave OpenSea an even bigger lead

OpenSea is by far the most popular NFT marketplace, having set a monthly record barely halfway through the month. SuperRare, Foundation, Nifty Gateway, Zora, Rarible, and LooksRare are among the contenders. If you’re in one of those markets, the Twitter feature is a bummer; it’s like Facebook adding a feature for sharing your sneaker collection, but just for Nike footwear. What will those markets do now to differentiate themselves and compete?

Categories
Business

Twitter adds new way to authenticate NFTs by way of profile picture

Twitter stated in September 2021 that it would introduce a means for users to authenticate NFTs (Non Fungible Tokens), and the service is now available. Users can now link any NFT they own to their Twitter account, and the site will display real NFT profile images with a new hexagon-shaped mask as proof of validity.

This hexagon profile photo will take the place of the traditional circular profile picture that can be found on the timeline of any Twitter account. The feature obviously requires a Twitter user to own an NFT, not merely an unofficially obtained image of the NFT, but there are a few more requirements as well.

To begin with, the feature is presently only available for iOS users. It may come to Android in the future, but there is no confirmation as of yet. Second, in order to link and authenticate their NFTs, Twitter users will need a Twitter Blue certification. In supported territories, the Twitter Blue premium subscription costs $2.99 per month, which is a little price to pay compared to the cost of an NFT.

In addition, the profile photo will provide further information about that specific NFT. So, if you find someone with an authentic hexagonal profile image, you may click on it and select ‘View NFT details’ to learn more about the owner, collection, and other details.

How to get the Hexagon profile picture if you own an NFT?

Users can now connect a variety of crypto wallets to their Twitter profiles to authenticate their NFTs. Argent, Coinbase Wallet, Ledger Live, MetaMask, Rainbow, and Trust Wallet are among them.

If you meet all of the requirements, go to your profile in the Twitter app on your iPhone. Select Edit Profile from the drop-down menu, then tap on your profile photo.

There will be a ‘Choose NFT’ option below the standard ‘Upload photo’ option. When you click it, Twitter will redirect you to a page where you may link your cryptocurrency wallet.

You can then choose one of your NFTs to use as your profile photo from your crypto service of choice, and the hexagon shape will be applied automatically.

Categories
Business

Bitcoin, the world’s largest cryptocurrency, skids to a six-month low

After plunging to its lowest level in six months on fears of a Russian invasion on Ukraine and ahead of this week’s Federal Reserve meeting, Bitcoin rose on Monday as investors stepped in to buy the cryptocurrency.

After falling to $32,951, the largest cryptocurrency was last up 2.5 percent at $37,250, its highest price since July 23. Losses from the all-time high of $69,000 in November have already exceeded 50%.

Bitcoin has reached a critical point, according to analysts, where more selling might reverse the long-term bull trend.

On Monday, the euro plummeted due to escalating tensions between Russia and Ukraine. NATO said it was placing forces on alert and bolstering Eastern Europe with extra ships and fighter jets, escalating tensions over Ukraine, which Russia criticised.

Nerves about the Federal Reserve’s two-day policy meeting, which begins on Tuesday, contributed to the mix, as the bank is anticipated to confirm that it will soon begin draining the pool of liquidity that has fueled growth stocks.

“The story is really how severe is the tightening,” said Marc Chandler, chief market analyst at Bannockburn Global Forex in New York, stressing that if the Fed reduces the size of its balance sheet, conditions will tighten along with higher interest rates.

Cryptocurrencies, like other risk assets, have fallen since “people are pushing back on risk in general,” he noted. In midday trade, stocks also rallied off their lows.

Close this week above the $37,400 mark, where there is support from the Ichimoku cloud bottom, according to Katie Stockton, creator of technical analysis firm Fairlead Strategies, may be essential in determining whether the selloff is a correction in an uptrend or the start of a bear trend.

“The long-term upswing is fundamentally reversed by that breakdown,” she warned if Bitcoin fails to rise above this level.

According to Coinglass data, almost $465 million in crypto assets have been liquidated in the last 24 hours, with Bitcoin trades accounting for $167 million of that total.

Smaller cryptocurrencies, which tend to move in lockstep with bitcoin, also fell, but not as much as bitcoin. Ether, the second-largest digital currency, was recently down 3.5 percent at $2,451 after hitting a low of $2,160 on July 27.

Riot Blockchain, Bit Digital, and Marathon Digital, all U.S.-listed cryptocurrency miners, also recovered from previous lows, while crypto exchange Coinbase Global pared most of the day’s losses.

Categories
Coins

What is Cardano?

Cardano is one of the most valuable cryptocurrencies in terms of market capitalization. It’s envisioned as a next-generation version of Ethereum, with a blockchain that’s a flexible, sustainable, and scalable platform for running smart contracts, allowing the creation of a variety of decentralized finance apps, new crypto tokens, games, and more.

Smart-contract capability was implemented by developers in March 2021. Cardano is one step closer to its aim of offering developers with a blockchain platform that is resilient, secure, scalable, and highly energy-efficient, according to an upgrade expected for the second quarter of 2021 that unlocked smart-contract functionalities.

How does Cardano work?

Cardano aspires to be the most environmentally friendly blockchain platform available. Instead of the energy-intensive proof-of-work approach used by Bitcoin and Ethereum, it uses a unique proof-of-stake consensus process called Ouroboros. (Through the ETH2 upgrade, Ethereum will also switch to a proof-of-stake method.)

What is the definition of evidence of work? Without a central authority like Visa or PayPal in the middle, decentralized cryptocurrency networks must ensure that no one spends the same money again. They use a “consensus method” to achieve this. Proof of work is the original crypto consensus process, which was popularized by Bitcoin mining.

Proof of work necessitates a massive amount of processing power, which is provided by virtual “miners” from all over the world trying to solve a time-consuming arithmetic puzzle first.

The winner receives a fixed sum of cryptocurrency in exchange for updating the blockchain with the most recent verified transactions.

What is the definition of stake proof? Proof of stake employs a network of invested participants known as validators rather than a network of miners racing to solve a riddle. Validators stake their own ADA instead of giving computing power to protect the network and validate transactions like miners do.

The network chooses a winner depending on how much ADA each validator has in the pool and how long they’ve kept it there, thus rewarding the most invested players.

Other validators can attest to the accuracy of the latest block of transactions once the winner has confirmed it. The blockchain is updated when a certain amount of attestations have been made.

The network distributes the reward in ADA proportionally to each validator’s stake to all participating validators.

While being a validator entails a significant amount of responsibility, interested parties can alternatively earn ADA by “delegating” portion of their crypto to a staking pool managed by someone else.

The Cardano blockchain has two layers: the Cardano Settlement Layer (CSL) and the Cardano Computing Layer (CCL) (CCL). The ledger of accounts and balances is kept in the CSL (and is where the transactions are validated by the Ouroboros consensus mechanism). All computations for apps operating on the blockchain — via smart contract operations — are performed in the CCL layer.

What are Cardano native tokens?

The Cardano blockchain added the option to generate native tokens on March 1, 2021. Cardano native assets, like Ethereum tokens (which include things like NFTs and stablecoins like USD Coin), may be produced and distributed on the blockchain and interact with smart contracts.

Cardano native tokens, unlike Ethereum-based tokens, are not created by a smart contract. They are instead based on the same design as the ADA coin. Cardano native assets are now “first-class citizens” on the blockchain, according to the non-profit Cardano Foundation. Their native architecture has the potential to make these coins more secure and minimize transaction fees.

What are the uses of Cardano?

Poor governance, high levels of manual processing, limited transparency, procedural inefficiencies, high costs, fraud, and data breaches have all resulted from centralized organizations and outmoded management methods. Cardano, a blockchain-based cryptocurrency, promises to address these issues.

Cardano is an open-source platform for smart contracts that may be used to solve problems in a wide range of businesses. Retail, education, government, finance, agriculture, and healthcare are among them.

  1. Retail

Atala SCAN is a product offered by IOHK (the firm behind Cardano). To safeguard brands and customers from counterfeit items in the retail sector, this tamperproof technology establishes product provenance and an auditable framework.

  1. Education

Atala PRISM, an ID and credentials solution that secures academic qualifications within a tamper-proof ecosystem, can help the education sector.

  1. Government

In order to reduce reliance on issuing authorities, Atala PRISM can be used in the government sector for credential issuance and verification systems.

  1. Finance and Digital Identity

Atala PRISM also allows unbanked persons in developing African and Asian countries to establish a digital identity. Cardano’s team began working with 54 countries in 2019 to develop blockchain governance solutions.

History of Cardano

Cardano, founded by Ethereum co-founder Charles Hoskinson in September 2017, intends to be a third-generation blockchain (or blockchain 3.0) project that builds on the technology pioneered by Bitcoin (first gen) and Ethereum (second gen) (second gen). Cardano wants to create a smart contract platform that is both scalable and energy efficient.

A team of computer scientists and cryptographers from the University of Edinburgh, Tokyo University, and other institutions developed the Ouroboros consensus method, which was published in peer-reviewed journals. Their goal was to create a decentralized network that could validate transactions in a scalable and safe manner, all while keeping the Cardano platform as energy-efficient as possible.

What is ADA?

The Cardano platform’s native cryptocurrency is ADA (named after Ada Lovelace, a 19th-century mathematician known as the “world’s first computer programmer”).

Cardano is powered by ADA coins, same as Ethereum is powered by ETH tokens. They’re used to pay transaction fees and staked by validators (and delegators) who want to receive incentives in exchange for helping to keep the network secure and stable.

ADA will be utilized as a governance token in the future, allowing holders to vote on Cardano platform updates and upgrades.

Is Cardano a good investment?

The cost of any digital asset is determined by a variety of factors. It’s crucial to understand the elements that determine the value of an ADA token before deciding whether it’s worth owning.

Because the total amount of ADA coins is limited, the coin is resistant to inflation as demand grows. The Cardano blockchain is secure due to its decentralized nature, and its layered architecture allows for scalability. These technological traits, when combined, make Cardano a unique currency with great potential.

The number of DApps and smart contracts implemented on Cardano’s blockchain will also determine its success. The blockchain is solid and long-lasting thanks to a thorough peer-reviewed research process.

To summarize, Cardano has a high possibility of capturing a significant portion of the crypto market. It’s steadily increasing in value, making it a good alternative for traders and newcomers to the crypto industry. ADA crypto, on the other hand, remains a strong choice for traders looking to diversify their portfolios.

Cardano is a prominent cryptocurrency among cryptocurrency aficionados, with one of the largest market caps and a large daily trading volume. Despite intermittent price decreases, ADA’s worth has grown steadily over the last four years. Cardano’s long-term growth potential is backed by a large number of partners.

All of this, as well as the most recent technical analysis, market trends, and expert opinions, point to Cardano being a strong investment option that will pay off handsomely for its backers. The crypto market, on the other hand, remains unpredictable, and cryptocurrencies are notoriously difficult to anticipate. Before investing in a digital asset, it’s best to think about all of the elements. Do your homework (DYOR).

Categories
Business

NBA Top Shot NFTs Have Quietly Surged 72% in 30 Days

It’s no secret that crypto currency investors are suffering as a result of the market’s record decline in value. Non Fungible Tokens (NFTs) are, on the other hand, making a lot of money as they go through it. Last week, OpenSea, the leading NFT marketplace, set a new monthly sales record of $3.5 billion, despite the fact that the month is just halfway over.

One early NFT collection in particular has had a resurgence in the last 30 days: NBA Top Shot, Dapper Labs’ licensed NBA “moments” on the Flow blockchain. 

PFP (profile photo) collections like Bored Apes, Meebits, and World of Women are generating the most buzz and headlines in the NFT world. However, NBA Top Shot was widely credited with kicking off the widespread NFC obsession in March of last year. Then, in June, the NFT market crashed, and by August, when NFTs had been pronounced dead, Top Shot had lost its luster. Top Shot was dubbed “NFT light” by many in the NFT community since it was designed expressly to attract normies and allowed for dollar transactions.

Just like the Brooklyn Nets, the NFT collection has Kevin Durant to thank for this surge and success. According to CryptoSlam data, the collection’s secondary market sales have increased by 72 percent in the last 30 days, totaling $53.8 million.

NBA Top Shot debuted a new TV and social media ad campaign featuring Durant this week, as well as a free Durant NFT “moment” for first-time Top Shot pack buyers. It’s the latest in a long line of crypto promotions for Durant, who has also signed on as an ambassador for Coinbase, which he had previously invested in—and Coinbase became the NBA’s official crypto exchange in October.

Dapper Labs, the firm behind the NFT collection, has expanded its horizons beyond basketball and will soon release Ultimate Fighting Championship (UFC) Strike NFT collectibles, based on video footage from UFC events and minted on Dapper’s own Flow blockchain, similar to NBA Top Shot.

Dapper Labs also announced in September that NFL All Day, a long-awaited NFL version of Top Shot, would be released at the end of the current NFL season. It’s unclear whether highlight clip NFTs will be as popular among NFL fans as they were among NBA fans, but it’s apparent that more sports organizations will be knocking on Dapper’s door to get their own version up and running.

Categories
Business

Betty Waitherero, elected onto the Telos Blockchain Board of Directors via a smart contract vote

The Telos community has elected its new Telos Foundation Board in an entirely smart contract-based on-chain transfer of power. Smart contracts are algorithms that carry out pre-programmed instructions, eliminating the need to rely on a third party or centralized authority to keep track of things.

Ms. Waitherero will serve on the Board of Directors as an Advocate for the whole blockchain community. The job also comes with the authority to direct the blockchain’s efforts and promote the development of its dApp ecosystem.

Before 2019, Ms. Betty was a familiar face on Kenyan TV networks debating government and political issues.

She is now convinced that blockchains have the capacity to revolutionize every aspect of life as we know it.

Given her expertise at the nexus of green energy and blockchain technology, the new board member was an intriguing candidate. The Telos blockchain is being used by her biomass energy extraction firm to handle its supply chain.

Telos claims to be a less expensive and speedier alternative to popular blockchains, and it’s ‘built for impoverished people,’ according to her.

According to Telos:

“The supply chain process will be managed by blockchain, and in this regard they will be partnering with the Telos Foundation Environmental, Sustainability and Governance group as well as building their DApp on Telos.net.”

Betty aims to help make Telos the most preferred digital payments network in Africa, noting her ability to assist increase membership to a critical mass as one of her objectives.
“Specifically, being able to tap into an existing and urgent need for reliable cross border payments, reliable KYC facilities, and ID for undocumented Africans across the continent.“ says, Betty Waitherero

Holders of the Telos Foundation governance token were entitled to run for one of nine board positions during the week of December 24th 2021 to January 4th 2022.

Users may vote through the platform’s web interface, which would almost certainly require a crypto wallet. Telos also used a Google Play Store app to conduct voting.

Categories
Business

As the crypto market falls, Dogecoin drops to its lowest price in nine months

The cryptocurrency market has lost almost 13% of its value in the last few days. While Dogecoin, the notoriously volatile joke coin, has had a smaller daily drop, it is already at its lowest level in almost nine months.

As of this writing, Dogecoin has dropped about 9% in the last 24 hours to just around $0.14, and it briefly fell below $0.14 this afternoon. According to CoinGecko’s data, the price of DOGE has plummeted 18% in the last seven days.

Dogecoin has dropped below $0.14 for the first time since mid-April 2021, when the long-running meme coin was experiencing a social media-fueled rise that pushed its value from $0.07 to $0.40 in a matter of days.

In early 2021, the value of Dogecoin skyrocketed. It started the year at less than a penny per coin, but as part of the larger meme stock trading frenzy, it began to rise significantly in late January. DOGE reached a high of roughly $0.08 per coin in early February before beginning to decline.

In April and May, however, DOGE’s value increased several times more, eventually reaching an all-time high of $0.73 on May 8. However, that high point did not last.

DOGE fell hard with intermittent upward swings as the wider crypto market entered an early summer free fall, but it never came close to recapturing its peak. DOGE hasn’t topped $0.30 since early September, according to CoinGecko. Dogecoin’s price has dropped 81% since its all-time high as of this writing.

DOGE began as a joke in 2013, but by 2021, it had grown in value as millions of new investors flocked to cryptocurrencies. Mark Cuban and Elon Musk are big enthusiasts, with the latter frequently pumping the price of DOGE with his tweets. It also helped Robinhood’s crypto business, albeit the company cautioned against relying on such a volatile currency.