Autor Cointelegraph By Arnold Kirimi

Interlay raises $6.5mm to accelerate Bitcoin DeFi interoperability

Interlay raises $6.5mm to accelerate Bitcoin DeFi interoperability

Uverejnil používateľ | dec 21, 2021 |

DFG Capital has led a $6.5 million investment in the interoperability start-up Interlay, which is building infrastructure for decentralized finance applications across major blockchains such as Ethereum, Cosmos and Polkadot. As per the announcement, the new funds will be used by Interlay to scale its operations and bring more developers on board with its open-source platform. In a statement, James Wo, DFG Founder and CEO, said Interlay’s solution will “expand the cross-chain possibilities for Bitcoin.” Interlay aims to integrate cryptocurrencies like Bitcoin (BTC) with DeFi platforms such as Polkadot and Ethereum. InterBTC, the company’s main product, is a fully crypto-based Bitcoin-backed asset. It’s backed by multiple collaterals and functions like an algorithmic stablecoin that can be fully redeemed for Bitcoin.The Web3 Foundation, which is behind the Polkadot project, provided the initial funding to begin development in 2019, aiming to utilize Bitcoin’s liquidity to propel the growth of the DeFi ecosystem as per the release. Interlay intends to double its workforce over the next eight months. It has 15 full-time employees and more than 100 community ambassadors presently.Related: ‘DeFi is the most dangerous part of the crypto world,’ says Senator Elizabeth WarrenDefi interoperability is seen as a key step in the development of the ecosystem and could pave the way for increased mainstream adoption. The DeFi sector has continued to flourish throughout 2021, with the overallvalue of all DeFi protocols surpassing $270 billion in early November amid a strong rally in cryptocurrency markets.Privacy is becoming an increasingly important issue as DeFi grows in popularity. Some blockchain projects have been working on privacy solutions. According to Paolo Guida, head of investments for Blockchain Valley Ventures, the biggest roadblock to DeFi takeoff is privacy.

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Dormant Bitcoin wallet holding 321 BTC activated after eight years

Dormant Bitcoin wallet holding 321 BTC activated after eight years

Uverejnil používateľ | dec 21, 2021 |

A Bitcoin wallet containing millions of dollars worth of Bitcoin (BTC) has come out of dormancy. For one reason or another, the wallet has not transacted for years despite having what is considered life-changing money. The wallet had not been used since 2013, barely a few years after the mysterious Bitcoin creator Satoshi Nakamoto disappeared. The wallet currently contains $15 million worth of BTC, and it’s unclear who owns this account or why it was reactivated on Tuesday.The wallet has 321 BTC. After eight years, the value of this amount has increased from $6,594 to a staggering $15,103,046. By now, the funds in the wallet had appreciated almost 2,300 times.The Bitcoin community is abuzz with speculation about who owns the wallet and why it has just come out of dormancy. Some believe that it could be a whale — an individual or group with a large stash of Bitcoin — who is about to make a move that will shake up the market.If you’re looking for a sign….in 3…2…1… https://t.co/8ezk8Ub6Sz— Mama Heqet 2.0 (@DaturaDaimonic) December 21, 2021A Twitter user proposed several reasons for the wallet activation in a comment thread. Many possibilities exist according to them, from Satoshi Nakamoto deciding to return to a patient investor who is going to sell their BTC now to someone just recalling their seed phrase for their Bitcoin wallet.Someone’s maybe figured out a exploit from an old wallet perhaps making not so random seed phrases or something. Too many waking up to be random..— Sapsicle farms⚛ (@SapsicleF) December 21, 2021

In recent months, several dormant Bitcoin wallets from 2011–2013 have been reactivated, each containing tens of millions of dollars worth of Bitcoin. On Sept. 19, the owner of a dormant Bitcoin wallet emptied their account and transferred all 616 BTC to different accounts.Related: Dead Coins and Wallets: The Treasures of Atlantis or Zombie Uprising?Old, sleeping wallets from the early days of Bitcoin are being reactivated with large amounts of cryptocurrency inside. Early investors who put up a few hundred dollars and kept their stakes have evolved into BTC whales, with values continuing to rise.Another Bitcoin wallet awoke in January after having been inactive since June 2010. The wallet had $5 million worth of BTC. In June 2021, another Bitcoin whale account with 900 BTC became active. On Sunday, another dormant address with 235 BTC ($11,114,901) was reactivated after nine years. A dormant address containing 225 BTC was activated on Thursday after almost eight-and-a-half years.

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Avocado Guild and TPG Telecom partnership lets players earn mobile data with tokens

Avocado Guild and TPG Telecom partnership lets players earn mobile data with tokens

Uverejnil používateľ | dec 21, 2021 |

TPG Telecom and the Avocado Guild, a blockchain gaming business focused on the play-to-earn (P2E) model, have teamed up to allow customers to exchange their AVO DAO tokens for mobile data credits. AVO DAO is the native digital currency of the Avocado Guild. It will be utilized to incentivize players for their time and effort in playing blockchain games.While commenting on the new partnership, Avocado Guild CEO and co-founder Brendan Wong said that the partnership contributes to the overall vision for Avocado Guild “to enrich our scholars’ lives by allowing them to exchange the tokens for internet access.”The collaboration with the Avocado Guild, according to CEO Richard Tan of TPG Telecom, allows TPG Telecom to take a long-term approach toward participating in the blockchain digital economy. The TPG Telecom and the Avocado Guild will also introduce a pilot project, which utilizes the Avocado DAO and involves PSP Soteria Ventures (PSV) and QCP Capital, according to the announcement.Related: Binance partners with Indonesian telco to develop new crypto exchangeThe new collaboration comes after Avocado Guild raised $18 million in Series A funding to help it grow its gaming services. The company will invest the cash to expand its technological know-how and transition to Avocado DAO, a decentralized autonomous organization.The Avocado Guild is a blockchain gaming association that highlights the play-to-earn (P2E) business model. In this system, gamers profit from playing games rather than through the traditional microtransactions seen in most mobile and PC games. Players are rewarded with digital assets that have real-world value. These assets can be used to purchase in-game items or traded on secondary markets for cash.

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Bitwise launches NFT index fund for accredited investors

Bitwise launches NFT index fund for accredited investors

Uverejnil používateľ | dec 17, 2021 |

In an effort to democratize access to nonfungible tokens, art collections and other digital assets of value for the masses, Bitwise Asset Management launched its new index fund on Dec. 16.As per the announcement, the Bitwise Blue-Chip NFT Index Fund is designed to allow accredited investors to invest in major nonfungible tokens and art collections. The NFT industry has exploded in 2021. Retailers throughout the world purchased millions of dollars worth of CryptoPunks, drawing institutional and accredited investors. In the third quarter of 2021, NFT trading volumes surpassed $10 billion for the first time.The crypto firm stated that the Bitwise Blue-Chip NFT Index Fund is now available to qualified investors for private placement subscriptions. The minimum investment is set at $25,000. While speaking on the new development, Bitwise CIO Matt Hougan stated that:“New frontiers in the art are rare. Entirely new artistic mediums are even rarer,” said Bitwise CIO Matt Hougan, adding that NFTs have emerged as the first digitally native medium for owning art and collectibles, “with enormous potential for meaning, value and use in our increasingly digital world.”Bitwise launched several new crypto products in 2021 to satisfy the increasing demand, owing to the fast-changing digital asset industry. The firm announced the debut of its Crypto Industry Innovators exchange-traded fund (ETF) in May 2021. In July, major American institutional investors contributed $70 million to the crypto index fund manager in order to beef up its balance sheet and double the size of its staff.Related: Bitwise CIO ‘not so sure’ about Bitcoin hitting $100K in 2021The phrase “NFT” was coined in 2017. Although little known at the time, two highly significant NFT projects, CryptoPunks and CryptoKitties, were launched in 2017. Propy sold the first NFT home. This was the beginning of NFT’s widespread adoption, which coincided with the cryptocurrency bull market cycle.

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Social network Reddit reveals plans to go public

Social network Reddit reveals plans to go public

Uverejnil používateľ | dec 17, 2021 |

On late Wednesday night, the popular social platform Reddit announced that it has started the process of making the company public. The company filed a confidential S-1 with the Securities and Exchange Commission (SEC) informing them of their intentions for going public.Per SEC regulations, they cannot provide any details about shares or prices until after a quiet period is over to protect trade secrets from being leaked before an IPO date is set. The SEC filing confirmed long-running rumors about Reddit’s plans for a public offering.Back in August, Reddit raised $700 million in fresh funding, making it worth more than $10 billion. In a recent update, Reddit stated that it had made $100 million in ad revenue for the second quarter of 2021, which represents a nearly 200 percent increase over the previous year.Hi, we have some news. pic.twitter.com/DjkjBRloHF— Reddit (@Reddit) December 16, 2021″The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions,” Reddit stated in a filing with the US Securities and Exchange Commission.Reddit competes with ad-supported social media platforms such as Meta and Twitter. According to Huffman, the firm has grown up in the shadow of Facebook, now Meta, and Google, and every dollar they make is a struggle. On the other hand, Reddit has already established its cryptocurrency in the form of Reddit Community Points, or RCPs.Related: Reddit to reportedly tokenize karma points and onboard 500M new usersAs of August, Reddit boasted about 52 million daily users and more than 100,000 active subreddits. Reddit is a forum where seasoned traders congregate to share their expertise, as well as a popular gathering spot for notorious meme stock r/wallstreetbets, which has had a big influence on stock markets and cryptocurrency markets this year with its retail trading and pumping tactics. The group’s popularity prompted the creation of crypto counterpart r/SatoshiStreetB which now has 509,000 members.

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