The Kenyan government has signed a partnership with the Venom Foundation to boost blockchain and Web3 technology innovation through a new technology development center. This and more news in this handy daily digest so you're always up to date with the latest developments in the crypto world.
Blockchain and Web3 in Africa
📍Kenya wants to catalyze technological innovations in Africa through blockchain and Web3. The country's government will set up a blockchain hub that will drive innovation across industries through the development of Web3-based applications.
Kenya, which has partnered with the Venom Foundation to launch its new technology hub, aims to drive innovation in key sectors that will create new opportunities for citizens, improve process efficiency and stimulate economic growth both domestically and internationally.
Through its new blockchain hub, Kenya will connect traditional systems with the Web3 ecosystem, in pursuit of greater efficiencies, transparency, innovation and development.
Memecoin fever also takes hold of Ethereum
📍BRC-20 tokens continue to overwhelm the Bitcoin network, while memecoins are also taking over Ethereum. Unconfirmed transactions on Bitcoin continue to pile up as demand for BRC-20 tokens continues. But Bitcoin isn’t the only one suffering from the memecoin craze.
Recently, the number of ERC-20 token transactions on the Ethereum blockchain hit a two-year high, exceeding 1,2 million transactions per day, according to data from Etherscan. Alongside token sending transactions, the cost of commission fees is also rising, averaging XNUMX million. $19.
Source: Etherscan
Over the past month, the number of transactions sending ERC-20 tokens has increased by 63%, according to data. Meanwhile, the number of transactions stuck on the Bitcoin blockchain exceeds 319.000 at the time of writing.
Ordinals and the mass adoption of Bitcoin
📍Like Grayscale, Michael Saylor believes that ordinals could be a catalyst for mass adoption of the world's leading cryptocurrency. MicroStrategy President Michael Saylor said that despite the congestion they are causing on the main Bitcoin network, ordinals have the potential to bring cryptocurrency to the masses.
According to Saylor, who participated in the PBD podcast, ordinals represent an innovation that could make Bitcoin more widely used. “If I can register my last will and testament; if my will moves you $1B, how much is it worth to have that verified cryptographically?” Saylor said on the podcast.
In addition to ordinals, the upcoming Bitcoin halving, banking crisis, and government regulations and rules for the cryptocurrency industry can also be important catalysts to boost Bitcoin adoption on a global scale.
Elon Musk tweets about the Milady project
📍The current owner of Twitter posted a controversial message on his official account. Elon Musk shared a seemingly innocent image of the current frenzy that meme tokens have sparked.
The image, which shows one of the generative PFPs of the NFT project Milady, says “There are no memes. I love you”, causing great controversy in the crypto community and driving up the price of the LADYS token. more than 11.000%, according to CoinMarketCap.
Musk is known for his almost unconditional support of the meme cryptocurrency Dogecoin, which he has spoken about on numerous occasions. However, Musk is also facing a multi-million dollar lawsuit, worth $258.000 billion, for allegedly promoting DOGE as an investment asset.
Continue reading: Polygon Labs and Niger Republic collaborate to accelerate development through blockchain
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