Tuesday, September 29Your Daily Bitcoin & Altcoin News Portal

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First Mover: Binance CEO Sees Future in DeFi While Bitcoin Volatility Turns Minuscule

First Mover: Binance CEO Sees Future in DeFi While Bitcoin Volatility Turns Minuscule

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. First Mover: Binance CEO Sees Future in DeFi While Bitcoin Volatility Turns Minuscule It might be part of every job in crypto to anticipate and react to fast-moving developments that seemingly change the industry’s direction overnight.  And apparently not even Changpeng “CZ” Zhao, the high-profile leader of Binance, the world’s largest cryptocurrency exchange, is immune to the industry’s capricious shifts.  In a video interview with CoinDesk’s Muyao Shen, Zhao acknowledged that the emerging blockchain sector of decentralized finance, known as DeFi, could eventually upend the business that Binance has grown to dominate: running a centralized cryptocurrency exchange. “Our mission is not to build a CeFi exchange,” Zhao said i

Blockchain technology now powers a privacy-focused security camera

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Please share if you find this article interesting. Blockchain technology now powers a privacy-focused security camera IoTeX, a privacy-focused platform for the Internet of Things, has partnered with camera manufacturer Tenvis Technology to offer Ucam, an indoor security camera powered by blockchain technology. Head of business development at IoTeX Larry Pang told Cointelegraph that Ucam users can access their camera data through a decentralized system and log in with an “uncrackable” password. The camera or a user’s mobile phone handles all the computing, meaning decryption occurs on the devices, letting users control their own data. “A private key is used to end-to-end encrypt all the data,” said Pang. “We need to have technology that guarantees our privacy and our ownership ins
Gemini crypto exchange adds shielded withdrawals for privacy coin Zcash

Gemini crypto exchange adds shielded withdrawals for privacy coin Zcash

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Please share if you find this article interesting. Gemini crypto exchange adds shielded withdrawals for privacy coin Zcash Gemini, a cryptocurrency exchange founded by the Winklevoss twins, aims to improve user privacy with a major privacy token, Zcash (ZEC). Starting Sept. 29, Gemini will support shielded withdrawals of ZEC, which allows users to hide their transaction data. Gemini representatives said that the new feature is the “first time shielded ZEC withdrawals are available on a regulated exchange.” The new option comes in line with Gemini’s mission to strengthen financial privacy and “empower the individual through crypto,” Gemini executives said. Launched in 2016, Zcash is a major privacy-focused cryptocurrency, enabling two user privacy levels through two types of addre
Report: Impermanent loss on Uniswap and other AMMs is always permanent

Report: Impermanent loss on Uniswap and other AMMs is always permanent

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Please share if you find this article interesting. Report: Impermanent loss on Uniswap and other AMMs is always permanent Alexis Direr, a researcher at the University of Orleans in France, has released a paper summarizing the mathematical underpinnings of Uniswap and other exchanges based on Automated Market Makers. Automated Market Maker is the term for a class of decentralized exchange that reached significant popularity in 2020, spearheaded by Uniswap. In a nutshell, these exchanges do away with traditional order books and instead rely on liquidity pools governed by a mathematical formula. Traders are always able to make a transaction with the pool for even the most illiquid tokens, but each order will impact the price of the asset they are trading — a phenomenon called slippa
Messari Says Initial Dex Offerings Are ICO 2.0, Urges Investors to Resist Initial Hype | Altcoins Bitcoin News

Messari Says Initial Dex Offerings Are ICO 2.0, Urges Investors to Resist Initial Hype | Altcoins Bitcoin News

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Please share if you find this article interesting. Messari Says Initial Dex Offerings Are ICO 2.0, Urges Investors to Resist Initial Hype | Altcoins Bitcoin News Crypto research firm, Messari says new Defi token offerings or initial dex offerings (IDO) are a reincarnation of initial coin offerings (ICO) and warns average investors to steer clear these. The firm notes that several early participants of IDOs are the ones that typically make off with outsized returns, while others are left deeply in the red. For the rest of the participants, Messari suggests it is better to wait for the market to settle on a price before buying. In a Twitter thread on September 28, the research firm explains that IDOs, which are “conducted on automated market makers (AMMs) like Uniswap, are ideall
Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop

Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop

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Please share if you find this article interesting. Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop The price of Bitcoin (BTC) abruptly dropped on Sep. 29 from $10,950 to $10,630 overnight, recording a 3% drop. Following the rejection at $11,000, the sentiment of traders remains mixed. Some are cautiously optimistic under the premise that BTC reclaims the $10,700 level. Technically, analysts say that the $10.7k area is a critical pivotal price point for Bitcoin in the near term. Others say that the price trend of BTC has reversed in the short term after its rejection. The intense reaction of Bitcoin to a crucial resistance level at $11,000 presents a threat of a larger pullback. Cautiously optimistic: what Bitcoin needs to do to recover According to a pseudo
Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March

Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March

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Please share if you find this article interesting. Bitcoin ‘difficulty ribbon’ chart hasn’t been this bullish since March Bitcoin (BTC) simply needs history to repeat itself to see significant price rises, according to two indicators now flipping bullish. On Sep. 28, on-chain monitoring resource Glassnode noted that Bitcoin’s difficulty ribbon compression had broken out of its green “buy” zone for the first time since the March coronavirus crash. Glassnode hints at “significant” BTC price increases Difficulty ribbon compression is based on difficulty ribbons, a metric devised by statistician Willy Woo as a way to gauge optimal times to buy Bitcoin. Ribbons use simple moving average values for mining difficulty, contracting as miners sell BTC to balance costs and then capitulate,
Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange

Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange Binance CEO Changpeng “CZ” Zhao acknowledges the contradictions inherent in trying to tap into the fast-growing business of decentralized finance, or DeFi, while trying to defend his company’s reign as the world’s largest cryptocurrency exchange. The company’s new foray into DeFi, Binance Smart Chain, attempts to replicate some of the features of the Ethereum blockchain that have proven fertile for developers building decentralized, blockchain-based trading and lending applications that theoretically could one day challenge traditional lenders and Wall Street trading firms. But DeFi could also threaten big cryptocurrency exchanges like his own.   Like
Venezuela sees its first Blockstream Bitcoin satellite node

Venezuela sees its first Blockstream Bitcoin satellite node

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Please share if you find this article interesting. Venezuela sees its first Blockstream Bitcoin satellite node A Bitcoin services startup based in South America has just launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela. According to a Sept. 25 blog post from startup Cryptobuyer, the launch of the node will keep the Bitcoin (BTC) blockchain updated for Venezuela users without being dependent on a local internet connection. Crypto training course provider AnibalCripto deployed the node while CryptoBuyer provided financial and logistical support.  “Having a 24/7 always-available digital money system independent of local internet infrastructure is now a reality,” said AnibalCripto CEO Anibal Garrido. “With this development, we are no lon
Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain

Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain

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Please share if you find this article interesting. Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain French soccer club Paris Saint-Germain hasn’t dropped the blockchain baton just yet, with the club now set to issue player collectibles as rare tokens. PSG — which plays in the highest tier of French soccer —  had already partnered with blockchain platform Socios.com to launch its own “Fan Token Offering” in 2018.  This week, the club has become the 100th soccer club to join the Ethereum blockchain-based fantasy soccer game Sorare platform. PSG players Neymar and Kylian Mbappé, as well as club veterans like David Beckham, will be tokenized as limited edition digital player cards. The score of player cards will depend on their real-life performances in soccer