The new program, called Decentralized Voices, will delegate voting power to active users of the Polkadot ecosystem, in order to give a voice to those enthusiasts who have brilliant and innovative ideas but do not have sufficient amounts of these cryptocurrencies to participate in the ecosystem's votes. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Decentralized Voices, empowering Web3 users
📍The Web3 Foundation, which is behind the development of Polkadot and Kusama, has introduced a new initiative focused on decentralized governance. This is Decentralized Voices, a program that will allow cryptocurrency users to actively participate in Polkadot governance.
Through a release, the Web3 Foundation reported that this new program will allow more people to get involved in the decentralized governance of the network, delegating 180.000 KSM tokens, from Kusama, and 42 million DOT, from Polkadot, of voting power to active voters in the ecosystem. With the delegation of this voting power, the Foundation seeks to give all those passionate and enthusiastic users of the Polkadot ecosystem a voice in the protocol's decisions.
“There are passionate and intelligent participants in governance who do not have significant amounts of DOT to vote with, and whose voices can be drowned out. The Web3 Foundation wants to help these people raise their voices,” the organization emphasized.
Active Polkadot and Kusama voters who wish to participate in this new Web3 Foundation initiative can now submit their applications to the Foundation, the organization noted.
The Web3 Foundation stressed the importance of delegating governance to the community for the construction of the decentralized web. In addition, it recalled that it is the crypto community that has the power to decide the future of the network, since it is the DOT holders who must vote to approve or reject any update or improvement that is to be implemented.
Solana begins to recover its value in the market
📍Solana (SOL) price is up by around 2,5%, at the time of writing this article, which represents a slight recovery, after the fall caused by the interruption of services on the network. On Tuesday, Solana suffered a service interruption that prevented users from making transactions on the blockchain network. The price of the SOL cryptocurrency was affected by this interruption, which was corrected by the developers hours later.
At the time of writing, the Solana blockchain is operational. However, the outage lasted an estimated 5 hours, during which block creation and transaction validation were halted.
Solana has been rebooted, resuming the validation of transactions on the network, after validators activated a new version of the mainnet software, which is still in beta. Meanwhile, SOL is trading above $97, up more than 2% in the last 24 hours.
Solana Mobile accumulates more than 60.000 orders for its new smartphone
📍Saga Chapter 2 sparked great frenzy in the crypto community. Solana Mobile, a subsidiary of Solana Labs, has revealed that pre-orders for its new blockchain smartphone have surpassed 60.000, amid the frenzy caused by the announcement of the new mobile device.
Although this blockchain smartphone, which will allow users to easily and accessibly navigate the Solana ecosystem, won’t be arriving until 2025, users have been quick to reserve it in advance. The company opened pre-orders for the Saga successor just 3 weeks ago, so the number of orders the company currently has reflects its massive demand.
Bitcoin will overtake gold as an investment asset
📍The narrative of Bitcoin as a substitute for gold continues to gain traction. Recently, the founder of Ark Invest, one of the companies that has launched a Bitcoin spot ETF in the United States, Cathie Wood, again expressed her belief that Bitcoin will surpass gold as an investment asset.
In a new episode of the “Big Ideas 2024” podcast hosted by his investment company, Wood emphasized that the arrival of spot ETFs on the market is helping to promote investment in Bitcoin over gold. According to Wood, who shared a chart showing the performance of Bitcoin and gold in recent years, despite the situations that have affected the price of the cryptocurrency in the market, it seems to always be on the rise.
Over the past decade, the price of Bitcoin has appreciated by more than 6.800%, while gold has experienced a growth of 150% over the same period.
Hong Kong issues new rules for cryptocurrency service providers
📍Hong Kong's Securities and Futures Commission (SFC) has set February 29 as the deadline for cryptocurrency providers to apply for their respective licenses. The securities authority in the Chinese city has notified cryptocurrency service providers of new rules to harmonize their regulatory status within the city's territory.
Specifically, the SFC has announced that cryptocurrency providers have until February 29 to apply for a license as service providers with these digital assets. Those companies that fail to comply with the new rule and do not apply for a license within the established period will have to cease their operations in Hong Kong at the end of May, or within a period of three months, counting from the notification by the regulatory authority.
According to release Issued by the city's Securities Commission, the new rules seek to ensure the safety and protection of investors participating in the cryptocurrency market.
The FSC recalled that some cryptocurrency providers were already offering crypto-asset services in the city before the new licensing regime came into effect, which allows offering cryptocurrencies to retail investors, and so it granted them a transition period so they could adapt to the new system. However, it called on all crypto-asset providers operating without a license in the region to update themselves and make the necessary application.
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