Vitalik Buterin, co-founder and developer of Ethereum, is among the most influential innovators of 2021, according to TIME. This and more news is in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍Infura, the largest Ethereum infrastructure provider, launches Infura Transactions to help developers avoid high network fees. Infura Transactions is Infura's new tool to help developers simplify the sending of transactions on the Ethereum network, as well as their commission costs.
Ethereum, which is the second-largest blockchain network in the industry, activated the EIP-1559 improvement proposal in early August to change the network’s fee auction system and help reduce fees. However, the high demand for DeFi and NFTs is causing Etheruem to become congested, and fee rates are still a bit high. Therefore, Infura’s tool seeks to simplify the sending of transactions to offer the best gas prices. Infura Transactions will use an algorithm to adjust fees in real time, the developers said.
📍On the Bitcoin network, a whale moved more than 44.500 BTC, worth more than $2.000 billion, paying only a few cents in commission. The data on chain show that a wallet of Bitcoin (BTC) moved over $2.000 billion worth of BTC with a fee of just 78 cents ($0,78 USD). In total, the “whale,” a term used in the crypto industry to refer to large cryptocurrency holders, moved 44.598 BTC worth $2.061 billion at the time of the transaction. The fee paid to the network’s miners for this operation was just 0,00001713 BTC.
The block where this transaction was included moved a total volume of 77.304 BTC. Moreover, the block was confirmed in just over 3 minutes.
Bitcoin and Blockchain Adoption
📍Ethereum developer Vitalik Buterin among TIME's 100 most influential people this year. The co-founder of Ethereum, the second largest blockchain network in the world, earned a place in the classification TIME's list of the most influential people of 2021. According to the publication, Vitalik Buterin is one of the people who is driving change in the innovation and technology industry in 2021.
📍The European Union will invest billions of dollars in technologies such as blockchain. Según un report According to Bloomberg, Ursula von der Leyen, president of the European Union, reported that the organization will allocate a fifth of the $887.000 billion pandemic recovery fund to technological investment. The EU president said that about $177.000 billion of the fund will be allocated to the development and promotion of digital technologies such as blockchain, 5G communications and networks, quantum computing, among others.
Development and Technology
📍Colossal, the company that is joining forces with the biggest Bitcoiners in the industry to recover an extinct species. According to Cameron Winklevoss, founder of Gemini with his brother Tyler Winklevoss, his investment company Winklevoss Capital is supporting the firm Colossal in a project to bring back to life the woolly mammoth or elephant, a species that lived in the Ice Age and was extinct thousands of years ago.
The project also involves billionaire investor and venture capitalist Tim Draper, CEO of Zero Gravity Corporation and general partner of Bold Capital Peter Diamandis, among others. Colossal has raised $15 million from its investors to start its project to revive the woolly mammoth. In the best style of "Jurassic Park"The company claims to have the DNA and scientists to carry out its project to reproduce thousands of mammoths and populate Siberia (Russia) with this extinct species.
Bitcoiners are supporting this initiative, due to the importance of having the necessary technology to protect current endangered species. Diamandis shared on Twitter that a high percentage of current animal species could cease to exist by 2050, due to the encroachment and destruction of their natural habitat. Despite enthusiasm for the project, many scientists are skeptical about the real possibility of reproducing a living specimen of the woolly mammoth.
Rules and Regulations
📍Bitcoin detractors in El Salvador burn BTC ATM to express their rejection. This Wednesday, protesters in the Gerardo Barrios Plaza in El Salvador, set on fire a Bitcoin ATM, located at one of the Chivo points installed by the state, to express their rejection and discontent with the adoption of the cryptocurrency as legal tender in the country.
📍US Senator Elizabeth Warren lashes out at cryptocurrencies again. In a The hearing In a speech before the United States Senate Committee on Banking, Housing and Urban Affairs, Elizabeth Warren criticized the recent fall in the value of cryptocurrencies, the failures of some of the industry's platforms during the fall, and the risks that exist due to the lack of regulation. According to the senator, the volatility of the markets and the unpredictability of the platforms at times of high demand can expose small investors to many risks.
However, despite the risks Warren points out, cryptocurrencies have become an alternative vehicle to escape the restrictions and prohibitions that many banks and governments have imposed on their citizens. In Africa, for example, the crypto market has grown by more than 1.200% in the last year. Blockchain analysis firm Chainalysis, notes that the growth in the adoption levels of cryptocurrencies in countries such as Kenya and Nigeria is due to the facilities that this industry offers for the transfer of value at low cost, the sending of remittances in a simple, fast and accessible way and the opportunities for long-term savings and investment.
Continue reading: Solana breaks after reaching its maximum TPS due to high demand and network usage
