Blockchain interoperability is one of the most important goals to ensure that the industry becomes future-proofed. Smooth cross-chain communication and flow of value are essential for efficient transactions and use cases. By addressing the fragmentation of Layer-1 networks, the blockchain industry can improve user experience, open new opportunities for collaboration, overcome its speed and scalability limitations, and accelerate the adoption of the technology across all major industries. The problem of cross-chain solutions While blockchain market participants realized the importance of interoperability long ago, we still don’t have decentralized systems that can work together smoothly, securely, and on a large scale. …

While Satoshi Nakamoto is credited as the anonymous creator of Bitcoin (BTC), what often goes unnoticed are the selfless contributions of the community members — miners, developers, designers, hodlers and investors — that help materialize the original vision. However, one such significant contribution was found to carry an imperfection for over 12 years, invisible to the naked eye. On Nov. 12, 2010, bitcointalk.org member bitboy (not related to YouTuber BitBoy Crypto) posted the vector files of the iconic Bitcoin logo, which has been widely accepted worldwide. While Bitcoiners preach the “zoom out” narrative during crypto bear markets, zooming in on …

Kazakhstan, one of the biggest Bitcoin (BTC) mining hubs in the world, announced plans to introduce new crypto regulations aimed at reducing tax fraud and unlawful business operations. A new law signed by Kazakh President Kassym-Jomart Tokayev on Feb. 6 reinstated the nation’s stand against the unlawful mining operations and issuance of crypto assets. Out of the two distinct legislations, the first requires the secured digital assets issuers to have the government’s permission. Moreover, such issuers will be subject to monitoring in accordance with the existing law of the land — “On Combating the Legalization (Laundering) of Proceeds from Crime …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. In the aftermath of a deadly 7.8-magnitude earthquake in southeastern Turkey, the Web3 community has come together to raise awareness and aid for disaster victims. Stablecoins could prove to be a critical factor in larger DeFi adoption, says Aave founder Stani Kulechov. According to the Aave executive, building the “payment layer,” which involves stablecoins, can potentially hook regular people into the space, eventually introducing them into DeFi. On the other hand, S&P Global Ratings …

JPMorgan Chase and consultants Oliver Wyman took a look at blockchain technology in commercial banking in a report released Feb. 9. Stablecoin and central bank digital currencies (CBDCs) have dominated in this sphere so far, but the authors pointed out the advantages offered by deposit coins for stability and reliability. Deposit tokens are issued on a blockchain by a depository institution to represent a deposit claim. This contrasts to stablecoins, commonly issued by a non-bank private entity, and CBDCs. This difference in issuer is a key advantage: “Given that deposit tokens are commercial bank money embodied in a new technical …

Cointelegraph has announced a major change to its Historical digital collectibles project. Starting Feb. 13, the price of Cointelegraph articles minted as nonfungible tokens (NFTs) will increase from $20 to $100 and the maximum number of copies will decrease from 10 to three. The Historical collection is an archival project that allows readers to mint unique, one-of-a-kind NFTs of Cointelegraph articles, preserving them as historical records of the blockchain industry. Readers can mint stories they think will become valuable by clicking the “Collect” button in the article. CHECK OUT THE COINTELEGRAPH HISTORICAL COLLECTION The move is aimed at articulating the …

The merger of Web2 and Web3 tools continues as crypto-backed debit cards become more mainstream. In an announcement on Feb. 10, Bit2Me, the largest Spanish cryptocurrency exchange, revealed its new cashback debit card in partnership with Mastercard. The original Bit2Me card works for its users via the Mastercard network that hosts millions of businesses worldwide. This new update offers users up to 9% crypto cashback for all purchases made with the card online or in-store. Leif Ferreira, the CEO and co-founder of Bit2Me, told Cointelegraph that the use of already known Web2 financial tools like debit and credit cards comes …

In the latest episode of NFT Steez, Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, discusses the integration of interoperability in Web3 and the Metaverse. By definition, interoperability is a feature of Web3 whereby a product or system can work seamlessly across platforms with other products or services. Webb defines interoperability simply as "creating a token— a nonfungible token (NFT)" since, at its most basic level, no one can control it besides the creator. But how does interoperability function presently in Web3, and what is its potential impact? Executing interoperability the "right" way When discussing how interoperable …

On Feb. 8, Cointelegraph released its annual Top 100 list of the most impactful heroes and villains for 2023. The list is being released in batches of 10, counting down the top players in the crypto space based on their actions and headlines in 2022 and their expected impact for 2023. So far, Cointelegraph has released numbers 81–100. DISCOVER COINTELEGRAPH’S TOP 100 IN CRYPTO AND BLOCKCHAIN 2023 The first batch started at the bottom of the list with figures such as BitMEX co-founder Arthur Hayes and tennis star Maria Sharapova. Cointelegraph unveiled rankings 81–90 on Feb. 9, which include the …

Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through mining are used for a wide range of purposes, including energy production, construction and manufacturing. Mining can take many forms, including underground mining, surface mining and placer mining. The specific method used depends on the type of resource being extracted and the location of the deposit. Moreover, the mining process typically involves several stages, including: Exploration: To locate a deposit. Extraction: To remove the minerals or …

Global payment giant PayPal holds a significant part of its financial liabilities in cryptocurrencies like Bitcoin (BTC) offered to its customers. As of Dec. 31, PayPal held a total of $604 million in various cryptocurrencies including Bitcoin, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the annual report filed with the United States Securities and Exchange Commission (SEC) on Feb. 10. Bitcoin has the largest share in PayPal’s crypto assets, accounting for $291 million in the firm’s asset breakdown, while $250 million is held in ETH. The remaining $63 million includes Litecoin and Bitcoin Cash combined. The amount …

The Virtual Asset Regulatory Authority (VARA) recently provided the much-awaited guidelines for virtual asset service providers (VASPs) in Dubai, United Arab Emirates, which included a ban on privacy coins. On Feb. 7, VARA released several rulebooks for VASPs including the "Virtual Assets and Related Activities Regulations 2023" in which VARA mentioned a prohibition on privacy coins. In the document, VARA wrote: “The issuance of Anonymity-Enhanced Cryptocurrencies and all VA Activity[ies] related to them are prohibited in the Emirate.” Cointelegraph reached out to several players within Dubai and a privacy protocol project to find out how market participants feel about the …