Opportunity cost, explained Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen. Consider the scenario when you have a limited budget and are debating between buying a new laptop or going on vacation. The value of the vacation you could have taken with the same amount of money would be the opportunity cost if you decide to buy the laptop. Similarly, if you decide to take the vacation, the opportunity cost would be …

Universities in the United Kingdom have started offering cutting-edge research programs, courses and practical experience in various aspects of blockchain technology, including cryptocurrencies, smart contracts, privacy, security and scalability. Students who graduate from these programs will be well-equipped with the knowledge and skills necessary to become leaders in the field of blockchain technology and drive innovation and adoption in various industries. Here are top five universities to study blockchain in the United Kingdom. University of Cambridge The University of Cambridge is a public research university located in Cambridge, and its Cambridge Centre for Alternative Finance (CCAF) is a leading research …

One of the original core developers behind Bitcoin (BTC), Luke Dashjr, has taken to social media to call out an auction site that has used his name and code without his consent to create and sell a “misleading” NFT. The core developer said he hasn't been the first Bitcoin developer to have his name or his work used in this way. In a Feb. 27 post on Twitter, the developer revealed a non-fungible token (NFT), featuring a picture of code he wrote, was sold at auction site for 0.41 Bitcoin (BTC), or roughly $9,500 at the time of writing. I …

Nonfungible tokens (NFTs) have grown into a distinct sector within the blockchain industry, but they still have to address several challenges before aiming for mass adoption. One of the key issues of the space has to do with data accessibility, or mostly, the lack of it. Unlike the broader crypto industry, the NFT market is still in its infancy, and there are relatively few resources available for tracking NFT collections, exploring detailed statistics and analyzing market trends. To begin with, the NFT market lacks standardized data formats and metadata. This can make it difficult for NFT buyers and sellers to …

Teaching cryptocurrency to children can be a great way to introduce them to the world of finance and technology. Here are some interactive ways one can utilize to teach cryptocurrency to children: Start with the basics and use analogies Start by defining and describing the nature of money. Inform your kids about the various types of money and the function of banks. It is also important to teach them the origin of money and how it got involved, from paper money to digital money. Related: What is cryptocurrency? A beginner’s guide to digital currency Furthermore, analogies can be a powerful …

Artifacts recovered from the wreckage of the Titanic are set to be tokenized using blockchain technology through a partnership driven by the company that acts as the steward of the sunken vessel. A three-way partnership involving RMS Titanic Inc. (RMST), Hong Kong-based Venture Smart Financial Holdings and Web3 firm Artifact Labs will begin tokenizing precious artifacts from the Titanic to unlock a myriad of Web3 functionalities. Select artifacts from the sunken Titanic will be preserved as nonfungible tokens (NFTs), which is aimed to open up shared ownership to the wider general public. RMST holds the exclusive rights to recover artifacts …

Nonfungible token (NFT) collection Friendsies has refuted claims it is “abandoning” its NFT project following a tsunami of “rug pull” accusations aimed at its founders. On Feb. 21, the founders behind the NFT project told its Twitter followers that it was putting a “pause” on Friendsies and “all future digital goods” for the time being, citing market challenges. Around 40 minutes later, the Twitter account was deleted, while the account of Friendswithyou, who developed the project, was made private — sparking rumors that the founders had “rugged” for about $5 million. With the $5.3m @friendsies_ai hard rug earlier today it …

The Proof of Stake Alliance (POSA), a nonprofit industry alliance, has published two white papers examining on the status of deposit tokens in United States securities and tax law on Feb. 21. The papers were authored by representatives of over 10 industry groups. Liquid staking is the practice on blockchains using a proof-of-stake consensus mechanism of issuing transferrable receipt tokens to show ownership of staked crypto assets or rewards accrued for staking. The tokens are often referred to as liquid staking derivatives, which is a term the POSA objected to as being inaccurate, recommending that they be called liquid staking …

Since its inception, blockchain technology has found diversified and valuable applications to help boost efficiency and incentivize community participation in different areas and industries. Farming is a sector that can benefit from comprehensive blockchain technology solutions, specifically when it comes to assembling actionable data and making it work to improve small businesses’ operations across several financial and sustainability metrics. By 2050, it is estimated that 10 billion people will inhabit the earth, and agricultural development will be a powerful mechanism to end extreme poverty, facilitate shared prosperity and feed the overall global population. The global agri-food industry is worth an …

Blockchain security firm Peckshield has raised the alarm after finding dozens of tokens purporting to be related to artificial intelligence (AI) powered chatbot ChatGPT. In a Feb. 20 post, the firm revealed at least three "BingChatGPT" tokens appear to be part of honeypot schemes — a smart contract that tricks a user into sending Ethereum (ETH), which the attacker then traps and retrieves. According to Peckshield, at least two of the tokens identified have already lost nearly 100% of their value, while a third is at a 65% loss — in what is often referred to as a “pump and …

The use of blockchain technology in the healthcare industry has the potential to revolutionize the way medical records are managed, medical research is conducted and patient care is delivered. Here are nine promising use cases for blockchain in healthcare. Medical record management Medical records can be safely stored and managed using blockchain, improving accessibility for patients and healthcare professionals. Patients’ ability to control access to their medical records enhances security and privacy. One example is MedRec, a blockchain-based system for managing medical information created by MIT researchers. MIT Professor Andrew Lippman says the goal of the MedRec project is to …

New logo slated for Yuga’s dog-themed NFT collection The logo for the Bored Ape Kennel Club (BAKC) from nonfungible token (NFT) conglomerate Yuga Labs is getting a refresh after recently surfaced allegations of intellectual property theft. Yuga co-founder, Greg Solano, more widely known as “Garga” tweeted on Feb. 18 that the BAKC logo would be changing and the project would “debut the new logo soon.” Saw the claims today about the BAKC logo. This was news to us and we're still investigating the situation. Have reached out to the freelancer we hired for that design and Easy Drawing Guides. We’ll …