The price of Bitcoin, Ethereum, Cardano, and other altcoins continues to rise as Chainlink deploys its data oracles on the Arbitrum One scaling network to easily interact with smart contracts. These and more news 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
📍Bitcoin and Ethereum quotes grew by more than 6% in the last week. Bitcoin (BTC) y Ethereum (ETH), both cryptocurrencies, The largest stocks in the market by capitalization, remain quoted above $47.000 and $3.270, respectively, at the time of this edition, showing a growth in value of more than 6% in the last 7 days.
The altcoins IoTex (IOTX), Ripple (XRP), Axie Infinity (AXS) y Cardano (ADA), show a growth of more than 50% in the last week. The current quotes of IOTX and ADA exceed more than 12 times their prices at the beginning of the year; in the case of XRP, its growth has been 5 times its price in relation to that of January while the value of AXS has grown more than 130x times so far this year. Currently, the price of ADA exceeds $2,18 at the time of this edition, driven by the activation of the smart contract functionality (smart contracts) on the network thanks to the Alonzo update and the end of the Goguen era.
Bitcoin and Blockchain Adoption
📍Ledger integrates support for BSC in its hardware wallets. The company hardware wallets, the largest manufacturer of these devices in the world, reported that Ledger users will now be able to use their devices to connect and interact with the protocols and dapps BSC. Ledger stated that the company's mission is to serve as a gateway to the world of cryptocurrencies, so it is essential that users can manage different assets from their physical wallets, including those from BSC.
📍Colombian government entities prepare to adopt blockchain technology. In an agreement recently signed by the Ministry of Science, Technology and Innovation of Colombia and the National Registry, the entities commit to adopt blockchain and other disruptive technologies to improve their efficiency and optimize their services.
📍Psychologist Jordan Peterson dedicates a podcast to Bitcoin. In the podcast titled «Bitcoin: The future of money?», Canadian clinical psychologist, cultural critic and professor Jordan Peterson he highlighted Bitcoin is described as “a very interesting idea” because it provides an incorruptible language of value preferable to gold. During the podcast, which featured several personalities related to the world of Bitcoin and cryptocurrencies who were invited by Peterson to express their opinions regarding this innovation, the psychologist highlighted several of the characteristics that make Bitcoin a unique cryptocurrency in the market and, perhaps, “the future of money.”
📍Big Four consulting and auditing firm KPMG has highlighted the growth of investment in the financial technology industry, especially in cryptocurrencies and blockchain. According to report According to the Big Four KPMG's half-yearly global fintech investment report for the first half of 2021, investors have closed a total of 548 investment deals in cryptocurrency and technology-related projects. blockchain, worth a total of $8.700 billion. The figure, corresponding to the first half of this year, doubled the total investment in the crypto industry seen in all of 2020, with nearly $4.300 billion invested for that year.
Development and Technology
📍Chainlink oracles are now available on the Arbitrum One scaling solution. Via Twitter, Chainlink developers reported on the deployment of data oracles on Arbitrum One, Ethereum’s second-layer scalability network.
With this launch, Chainlink developers want to enable the creation and deployment of scalable, high-performance, low-cost smart contracts on the Arbitrum network.
📍The Inter-American Development Bank's Innovation Laboratory, Cambridge Quantum (CQ), and the Tecnológico de Monterrey develop a blockchain solution resistant to quantum computing. According to reported Scientists at IDB Lab, Cambridge Quantum (CQ) and Tecnológico de Monterrey, there are four potential threat areas of quantum computing for blockchain networks, including communication between network nodes and the integrity of digitally signed transactions. However, the scientists claim to have developed a quantum-resistant solution, which solves the vulnerabilities detected in blockchains.
The solution, called LACChain Kiss, is based on Ethereum, and allows transactions and communications between nodes to be protected by quantum-proof keys from CQ’s IronBridge platform, which uses quantum computers to generate certified entropy, the scientists reported. The work developed seeks to guarantee the security and integrity of blockchain networks in the future and offer resistance to attacks by quantum computers. Duncan Jones, director of Quantum Cybersecurity at CQ, stated that only keys generated from certified quantum entropy can be resistant to the threat of quantum computing.
📍Several crypto mining companies have joined forces to provide an $80.000 grant to Bitcoin developer Jon Atack. Cryptocurrency mining companies Compass Mining, Braiins and Marathon Digital Holdings will finance Jon Atack’s work in developing Bitcoin Core totaling $80.000 for this year. In the statement shared by Compass Braiins, the company says that Jon has been a vital contributor to the code of Bitcoin, “the world’s open source money project,” and so it looks forward to contributing to the continuation of his work.
Rules and Regulations
📍More congressmen are joining in against the controversial infrastructure bill approved by the US Senate. California Congresswoman Anna Eshoo is calling on House Speaker Nancy Pelosi to amend the terms and definitions of “brokers” introduced in the infrastructure bill. Eshoo sent a letter to Pelosi alleging that the Senate-passed legislation wants to impose new reporting requirements and tax obligations on miners, validators, and software developers who “would not be able to comply with these requirements.”
According to the U.S. Treasury Department, despite the overly broad terms of “brokers” introduced by the infrastructure law, only companies and participants that provide services as intermediaries will be required to report to the IRS; so miners, validators, and software developers will be exempt from the law as long as they do not act as intermediaries or “brokers.”
Continue reading: Bitcoin miners return and hash rate rises to levels from 2 months ago
