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Dogecoin surges 27 percent to $0.20 after adoption from Tesla

By
Christian Allen Tandoc
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Following Tesla’s announcement that it would begin accepting the meme coin, Dogecoin temporarily surpassed the $0.2 price range. Elon Musk, CEO of Tesla, said on Twitter that the automaker would finally begin accepting Doge, a milestone that the meme coin community had been eagerly anticipating.

Musk, a huge supporter of Doge, has teased this adoption several times in the past. Then, in December, it was announced that Tesla would begin testing Dogecoin payments using its goods. Following this news, the price of the meme currency had also risen. This time, it jumped 27 percent to temporarily trade above $0.2 after Musk’s post went online.

The news from Tesla provided a significant lift to Dogecoin, which had been drifting low at $0.175 in the early hours of Friday. This pushed the meme coin to a one-month high of $215.00. It has since lost ground below this level, although it is still trading above its one-week high of $0.192 at the time of writing.

It was widely reported that electric vehicle manufacturer Tesla would begin taking Doge payments. This has already been announced by the corporation. This time, it has officially started accepting Doge payments. So, while Doge holders can now spend their favorite meme coin at the world’s largest elector vehicle company, there is a caveat.

Users can currently only purchase products from Tesla using Dogecoin. It does not apply to its vehicles because the company stated that it was using this as a trial run to evaluate how taking the meme coin for payment would work.

For products that accept Doge payments, users will see the Dogecoin symbol next to the “Order” button on the site. They can connect their Doge wallet straight to the site to buy Tesla merchandise, which will be priced accurately in Doge to ensure that customers pay the exact amount. Users should be aware that they will not be able to cancel an order placed with Dogecoin.

The Estonian regulator says there are no plans to ban cryptocurrency

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Christian Allen Tandoc
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By 2021, there will be an increase in both absolute and implicit limits on cryptocurrencies. Furthermore, the year saw an increase in the number of countries imposing bans on crypto-related activities and services within their borders.

Following previous speculations of a crypto prohibition in Estonia, the country’s Finance Minister has cleared the air. On Sunday, the Minister announced that the new legislative draught for Virtual Asset Service Providers would not include a crypto ban (VASPs).

This means that clients will be able to possess and trade cryptocurrencies without restriction. However, the suggested formality may include large capital requirements for VASPs, which may deprive decentralized wallet creators.

Prior to Sunday’s announcement, it was revealed that Estonia’s draught bill would outlaw DeFi and non-custodial wallets. A non-custodial wallet often gives users complete control over their digital assets and private keys.

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However, the tweet referred to the new restrictions as outlined in a draught bill approved by the Estonian Parliament on December 23, 2021. The Minister of Finance, Keit Pentus-Rosimannus, noted in his statement that the bill was created to improve the criteria for anti-money laundering (AML) for VASPs.

The bill’s specific purpose is to reduce the number of anonymous accounts created. VASPs in Estonia are expected to provide their clients’ identification once they have received approval to provide wallets and account services.

The minister stated that no provision in the bill prohibits clients from trading or possessing cryptocurrency. He also stated that users are not required to give or expose the private keys to their wallets.

Following that, an informational page issued by the government on Monday addressed several frequently asked issues about the law. Furthermore, the minister indicated that the proposed bill comprises the country’s response to the Financial Action Task Force (FATF) recommendations on regulation VASPs.

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Furthermore, the report cited the Estonian Financial Intelligence Unit’s (FIU) laxity with its preliminary requirements for licensing crypto service providers. The FIU began licensing crypto providers in 2017, however it revoked its license from over 1,000 crypto enterprises in 2020 owing to weak links to Estonia.

However, the new rule requires any VASP that obtains an Estonia license to have a verifiable relationship to or business in the country.

On December 31, 2021, Mikko Ohtamaa tweeted that Estonia’s prohibition included DeFi and Bitcoin. As a result, clients should not download or keep BTC in their wallets while in the country.

In addition, the bill specifies various capital requirements that VASPs must meet dependent on their services. The minimum share capital for VASPs is €125,000, or $141,000 in US dollars. The current value of the minimum share capital is €12,000, which is equivalent to $13,500.

Monsterra is the first dual-chain P2E game on both the BSC and the Terra Chains

By
Christian Allen Tandoc
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0
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The play-to-earn (P2E) sector that emerged from the decentralized finance (DeFi) area over the previous year propelled the crypto market to unprecedented heights, threatening to bridge the gap between conventional entertainment and the blockchain sphere.

With the debut of Monsterra on Binance Smart Chain (BSC) and Terra Chain, a new gaming project is now bridging boundaries between different blockchains. BSC is the Ethereum-compatible blockchain created by the team behind the world’s largest centralized exchange Binance. It provides users with a platform for developing quick, low-fee decentralized applications (dApps).

On the other hand, Terra Chain is a decentralized payment network that also hosts a number of dApps. Surprisingly, Terra Chain recently became the world’s second-largest DeFi platform based on the dollar value locked inside its protocol – a figure of no less than $18.2 million.

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Why Are Two Chains Better Than One? The P2E NFT game will first be available on the Binance Smart Chain before spreading to Terra in Q2. The dual-chain debut is encouraging for would-be gamers who are generally limited to a single network – i.e., the blockchain that a project’s team first decided to build on.

Of course, the Monsterra team isn’t releasing on two chains to be different. BSC was chosen as the virtual platform due to its large user base and stable ecology, making it an appealing venue for gamers, particularly those put off by Ethereum’s exorbitant transaction fees.

Meanwhile, Monsterra’s expansion to the popular Terra platform underscores the company’s close partnership with the Terra Foundation. Monsterra will benefit from a bridge that ties BSC to Terra, allowing gamers to enjoy the best of both chains moving forwards, in addition to becoming one of the first games in Terra’s expanding metaverse.

Monsterra Shakes Hand With Bunicorn Metaverse Via Investment & Advisory Force | by Buni | Dec, 2021 | Bunicorn

In the game, players fight fights with mystical monsters known as Mongens to gain land, create farms, and construct their properties. Mongens have five distinct beginning forms, each with its own set of unique features and powers that impart different playstyles on the player.

Gameplay takes many forms, with players able to initiate attacks on other competitors’ domains and attempt to beat the defending Mongens with their army. Arena bouts promise dramatic head-to-head combat, while boss challenges pit participants against hostile monsters as they explore a magnificent yet hostile landscape.

In between conflicts, players can acquire unique rewards by locating secret reward tokens and figuring out how to exploit them.

The Exploding Play-to-Earn Market In 2021, blockchain developers recognized the potential for gaming finance to attract more consumers to the crypto realm than had previously been thought conceivable.

Gamified finance, or GameFi for short, delivers amusement while arming its users with the principles of financial autonomy and independence that the bitcoin sector has long promoted.

The mainstream gaming business is believed to be worth $300 billion, which is expected to rise more in the future years. While blockchain developers compete for a piece of this ever-expanding pie, mainstream publishers are also making inroads into the blockchain realm, as evidenced by several prominent gaming organizations’ recent adoption of the metaverse and NFT technologies.

The connection between blockchain and gaming continues to attract attention, and Monsterra is making a big statement by debuting on two popular networks right away. The game’s development intends to build a substantial user base through giveaways, bounties, and community activities this year. New player modes will also be launched, and the debut of the dual-chain MSTR token on the DEX will be utilized for NFT transactions, in-game upgrades, and other defi activities.

Iran Allows local businesses to accept cryptocurrency for international payments

By
Christian Allen Tandoc
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Iran has finally joined the list of countries that accept cryptocurrency payments from residents. One of the founding principles of cryptocurrencies was that they could be used as a form of payment, however, there are still many obstacles in the way. El Salvador, for example, has fully embraced the crypto dream. On the other hand, others are still in the dark or grey area around this, though not for long. Iran is one of the countries that has taken steps to allow its citizens to take advantage of the benefits of cryptocurrency payments.

The Iranian Central Bank, in collaboration with the Ministry of Industry, Mine, and Trade, recently legalized the usage of cryptocurrency payments for Iranian merchants. Following a discussion between the bank and the ministry, the decision was made to allow local merchants to settle trade transactions using cryptocurrency.

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The technique was developed in a joint foreign currency working group between the ministry and the bank to assist merchants in carrying out foreign trade settlements and avoid the sanctions placed on the country in 2012, which have already lasted nearly a decade. Merchants and businesses will be allowed to conduct commerce with their overseas counterparts without fear of censure using cryptocurrency.

Iran, whose relationship with cryptocurrency has been rocky at best, has turned to cryptocurrencies, which provide a far better choice for foreign transaction settlements for importers and exporters to commerce.

More information on the system is scheduled to be released, highlighting how international crypto payments will work for the country. “We are preparing a method for system operations,” Alireza Peyman-Pak, Iran’s deputy minister of Industry, Mine, and Trade and head of Iran’s Trade Promotion Organization, TPO, said. The mechanism should be completed “within the next two weeks,” he says.

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According to the Iranian government, this new method will allow local firms and merchants in Iran to trade worldwide regardless of fiat money, which may be converted to cryptocurrency and used to pay the seller or importer.

” All economic participants can use these cryptocurrencies.” The trader takes the rouble, rupee, dollar, or euro and uses it to obtain cryptocurrencies such as Bitcoin, a form of credit he then passes on to the seller or importer. […] Because the bitcoin market is based on credit, our economic actors can readily and widely use it.”

Iran’s stance on cryptocurrency has shifted in the past. By 2020, the nation had authorized approximately 1,000 mining licenses for cryptocurrency miners. However, in July 2021, members of the Iranian parliament introduced a law to ban cryptocurrency payments in the region completely.

Block announces it is developing a Bitcoin mining system

By
Christian Allen Tandoc
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Block, formerly Square, has announced the development of its bitcoin mining technology. The startup, led by ex-Twitter CEO and BTC maximalist Jack Dorsey, focuses primarily on financial services and bitcoin development and has been a powerhouse in the space, particularly since Dorsey revealed his involvement. This time, it has focused on bitcoin mining as part of its goal to make mining accessible to anyone.

Block Entering the Bitcoin Mining Industry

Back in October 2021, Block CEO Jack Dorsey revealed the company’s ambition to enter the mining market by constructing a bitcoin mining infrastructure. This system would be based on bespoke silicon and would be open source, making it available to individuals and enterprises all around the world. Less than three months later, the concept becomes a reality as Block begins to create its bitcoin mining technology.

Block (formerly Square) is building a system for bitcoin miners

One of the issues addressed by Dorsey was the need for more dispersed bitcoin mining. Mining BTC is currently an expensive enterprise, and as such, it is only available to those with the necessary funds. Block is looking to the future in order to make the network more decentralized even after the last BTC has been mined, and one method to do so is to make mining more efficient.

Block intends to alleviate the bottleneck caused by an inefficient mining process by making the hardware required to mine BTC more widely available. “Not everyone has access to mining.” “Bitcoin mining should be as simple as plugging a gear into a power source,” Dorsey wrote on Twitter.

Putting the Pieces Together

Block’s general manager for hardware, Thomas Templeton, came to Twitter to announce that the business had taken the initial steps towards making bitcoin mining more accessible to everyone. Block, according to Templeton, began by reaching out to the community to learn about their mining experiences, concentrating on user pain points and specific technical issues.

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They discovered that the key barriers that customers had to overcome in order to enter the mining industry were availability, reliability, and the performance of mining rigs. Furthermore, the energy consumption of this equipment was too high for a solitary BTC miner to make a profit. This is why Block is aiming to make the process smoother and easier.

It has not yet been announced when the system will be made available to the public. On the other hand, Templeton stated that the company was already assembling teams for its bitcoin mining technology. “We’re incubating this inquiry within Block’s hardware team and are beginning to build out a core engineering team of system, ASIC, and software designers,” he explained.

New York City Mayor’s Personality Luring Cryptocurrency Companies

By
Christian Allen Tandoc
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Encouragement from incoming New York City Mayor Eric Adams is good for crypto firms looking to set up shop in the city.

Despite these hopeful signs, some are skeptical that he will have the capacity to adopt more stringent state regulations. Furthermore, Adams is competing with other American municipalities for the title of future crypto hub.

Companies were asked to join. Ava Labs, a cryptocurrency and blockchain start-up, was unsure where to locate due to a lack of options. On the other hand, company president John Wu indicated that Adams’ election played a “major effect” in his choice to establish in New York.

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“Knowing that we have a supportive government, particularly in the New York City area,” Wu remarked. Chainalysis, a bitcoin data start-up, doubled down on its New York City choice last year, securing a deal for a Manhattan office space that can house up to 200 people.

“The next mayor’s support for the industry reinforces my conviction that New York is the greatest home for Chainalysis’s headquarters,” said Michael Gronager, co-founder and CEO of Chainalysis.

Following his victory, Adams came out in favor of cryptocurrencies, proposing to pay his first three months’ salary in Bitcoin and urging local schools to teach students about cryptocurrency and blockchain technology.

Adams also expressed interest in developing a digital wallet for municipal employees and users of public benefits, inspiring CityCoins to create NYCCoin as its next project.

Despite the fact that he has yet to propose any concrete legislation that would provide a major incentive for crypto companies to join, some believe that his upbeat approach has already proven helpful.

“I think it’s a really effective signalling tool to… say, ‘OK, we recognize his business can benefit everyone,” said Zach Dexter, CEO of FTX US Derivatives, a crypto derivatives exchange.

Pakistan’s central bank advises a complete ban on cryptocurrency

By
Christian Allen Tandoc
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According to reports, the Pakistani government and central bank, the State Bank of Pakistan, have agreed to prohibit the use of cryptocurrencies.

On January 12, local media sites reported that the alleged total ban recommendation would result in fines for bitcoin exchanges. As of now, the prohibition is merely a recommendation, and it’s unclear whether it will be hotly debated as officials study it.

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The Sindh High Court (SHC) has been investigating the legality of digital currencies, and this is the first time the central bank has taken a stance on the asset class. The proposals make cryptocurrencies illegal and restrict trading; however, it is unclear what this means for individual investors.

The recommendation is somewhat unclear, with the SHC proposing that the report be sent to the law and finance ministries for further review. These departments will determine whether or not a ban is legal under the law. They will also develop a legislative framework to clarify potential consequences.

Popular cryptocurrency influencers have also weighed in, arguing that the “youth demand crypto” and the prime minister should speak out. Pakistan has joined the ranks of about ten other countries that have banned the usage of bitcoin.

China is the most visible of these, outlawing the asset class last year and establishing its own central bank digital currency (CBDC). The SHC requested that the government regulate the asset class in October 2020. None of that appears to be necessary with the prohibition, as cryptocurrency will have no place in the country.

Terrorist funding and money laundering are the main reasons for the guidance, consistent with other governments’ statements. On the other hand, other countries have enacted legislation to make such conduct illegal, such as KYC procedures, which is a much less severe approach.

Binance Chief Changpeng Zhao Catching Up With Wealthiest Persons In The World

By
Christian Allen Tandoc
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Binance CEO Changpeng Zhao is quickly catching up to the tech billionaires in terms of net worth.

The enigmatic Binance CEO is worth an estimated $96 billion, according to a Bloomberg investigation published on January 9 that evaluated crypto’s wealthiest. Zhao will be the wealthiest person in Asia if the Bloomberg Billionaires Index is true.

Despite the fact that he had not yet been included in the Index at the time of writing, the article suggested that his wealth places him ahead of Mukesh Ambani, India’s current richest man.

The 11th richest person in the world

According to Bloomberg, Zhao is worth twice as much as Alibaba co-founder Jack Ma, who is estimated to be worth $40 billion. Eight of the top ten richest people on the planet are American technology billionaires.

Zhao may soon join them, as he is not far behind Larry Page and Sergey Brin, who are both estimated to be worth $120 billion.

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The world’s wealthiest men

Mark Zuckerberg of Facebook is fifth on the list, with an estimated net worth of $124 billion, just ahead of Microsoft co-founder Bill Gates, who has a net worth of $135 billion.

According to Bloomberg’s Index, Elon Musk, who is rumored to be worth $263 billion, is at the top of the list. In comparison, the Winklevoss twins are worth approximately $5 billion each.

According to the study, Zhao’s crypto assets may increase his wealth.

Zhao’s fortune might be substantially larger because the estimate excludes his crypto assets, including Bitcoin and his company’s token.

Sidus Heroes Reveals Other Important Details Regarding Its Beta Release

By
Christian Allen Tandoc
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0
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SIDUS HEROES, a Non-Fungible Token (NFT), Play-to-Earn (P2E) metaverse game, has just revealed what each beta version has in store for its players. If the high-quality HD graphics aren’t enough to pique your curiosity, SIDUS HEROES has promised a plethora of earning chances.

The NFT collection goes on sale in January. The beta versions will be issued in three stages: closed beta version 1.0 on January 10th, open beta 2.0 on January 23rd, and open beta 3.0 on February 14th, which is Valentine’s Day. According to a recent SIDUS statement, users will play the game as long as they have one Hero. However, it is recommended that a team of three Heroes is established if you want to develop faster and gain more awards. This is the ideal method to get the most out of the game.

SIDUS HEROES has divided its NFTs into two categories: GENESIS and ACADEMY. On January 10th, SIDUS HEROES will release a closed beta version of the game that will only be available to owners of NFTs from the SIDUS GENESIS collection. On January 23rd, the team will release the public beta version, which will be available to owners of NFTs from the SIDUS GENESIS or SIDUS ACADEMY collections.

Sidus Heroes | GameFi Aggregator

SIDUS HEROES intends to release beta version 3.0 on February 14th. Both collections’ heroes will feature three rarity levels — Common, Epic, and Legendary — as well as three separate race kinds and fighting skills — VOLTRONE, OGYA, and RAPTORIAN.

There will be four sorts of weapons in each of the three releases: kinetic, thermal, fire, and hydrogenic. In future generations, more firepower will be available. Furthermore, beta version 1.0 does not have any armor; beta 2.0 will include Common and Uncommon gear; and beta 3.0 will include extra unique armor.

In contrast to the closed beta (v1.0), which had no armored NFTs, both open beta versions (v2.0 & v3.0) will contain three armor classes – VOLTRONE, OGYA, and RAPTORIAN. Gadgets and a Hero upgrade system will be available only in the 3.0 edition.

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There will be various battle areas in the game, each unique experience. The Closed Beta will feature two arenas: RAPTORIAN and VOLTRONE, while the Open Beta will feature four arenas: SIDUS STATION, VOLTRONE’S PLANET, OGYA’S PLANET, and RAPTORIAN’S PLANET.

Furthermore, “Boss” levels for cooperative and competitive gameplay will be included in each release. There is only one boss in the 1.0 edition, an Elemental Tesseract with two bosses. The 2.0 edition will include the Robot and Mushroom, while the 3.0 version will include all of the previously stated bosses as well as one more – the Slug.

Only the open beta v3.0 version will include functional aspects for each of the environments that can be utilized in unique tactical circumstances. Furthermore, all three releases will be included in the inaugural season — the Rookie League.

Russian Feminist Group Reveals They Are Launching a DAO

By
Christian Allen Tandoc
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0
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Pussy Riot, a Russian feminist punk music and performance art group will launch a DAO to encourage female diversity in the nascent crypto and NFT areas.

Pussy Riot made headlines in 2012 when they held an unauthorized concert inside Moscow’s Cathedral of Christ the Saviour. With their quirky acts, they continue to defy persecution. The lack of inclusion in the NFT and crypto industries is the most recent source of rage among the collective.

Pussy Riot intends to use NFTs to spark social and political change. Nadya Tolokonnikova, the co-founder, discusses why they chose NFTs.

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“I want to bring human rights and charitable component to NFTs since it’s a place where people are willing to listen to your ideas,” she says. Because it is new, the space is adaptable. However, the crypto and NFT industries are not immune to gender homogeneity. It is ruled by “white heterosexual guys.”

According to a CNBC survey, males invest in cryptocurrencies twice as much as women. While much of it can be attributed to historical factors that have kept women on the financial margins, the figures are startling considering the nature of the business, which is famed for decentralization and inclusivity.

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In the NFT sector, according to Bloomberg research, female artists account for only 5% of all NFT art sales throughout the 21-month study period. Not surprisingly, they make significantly less than male artists.

The DAO will aim to close the gender gap by increasing awareness and providing aid to girls who aspire to work in space. However, the assistance will not be limited to female artists. They intend to bring on LBTQ+ artists as well.

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