Autor Cointelegraph By Ezra Reguerra

Algorand aims to convert network transaction fees into carbon offsets

Algorand aims to convert network transaction fees into carbon offsets

Uverejnil používateľ | apr 21, 2022 |

Proof-of-stake blockchain protocol Algorand will implement a smart contract that will automate the offsetting of the network’s carbon emissions.In a recent announcement, Algorand revealed that a new smart contract would take a portion of each transaction fee within its blockchain network and automatically process it to purchase verified carbon credits at ClimateTrade, a blockchain-based carbon offset marketplace.According to Algorand Foundation CEO Staci Warden, the move will allow the network to scale while still being carbon negative. Warden told Cointelegraph that the smart contract will ensure that their blockchain remains eco-friendly in the long-term and hopes that other firms do the same. “We hope this encourages our partners and other blockchain protocols to lower their carbon footprint,” said Warden. She explained that all tech companies have a responsibility to help build a sustainable future, and their team is happy that they are able to provide a blueprint on how this can be achieved.The CEO also praised the blockchain industry’s efforts to be more eco-friendly. Warden said that:“The industry is moving in the right direction by adopting proof-of-stake as the preferred consensus mechanism. While there are certainly valid criticisms against Bitcoin and proof of work, the future is bright.” Related: Blockchain and oracles can help clean energy transition, study claims Back in 2021, the Algorand team made a pledge to be a carbon-negative blockchain. Through its partnership with ClimateTrade, Algorand was able to log its on-chain carbon footprint and put an equal amount of carbon credits in a green treasury. Meanwhile, in an attempt to combat the effects of climate change, insurance firm Lemonade partnered with blockchain companies to form a decentralized autonomous organization (DAO) that aims to help African farmers from climate change effects. The DAO, called the Lemonade Crypto Climate Coalition, provides climate insurance to farmers and allows them to be compensated if they ever get affected by natural disasters. 

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BTC and ETH will break all-time highs in 2022 — Celsius CEO

BTC and ETH will break all-time highs in 2022 — Celsius CEO

Uverejnil používateľ | apr 20, 2022 |

During the recent Paris Blockchain Week Summit, Cointelegraph’s Joseph Hall sat down with Alex Mashinsky, CEO of Celsius Network, to talk about several topics, including where the Bitcoin and Ether markets are going. According to Mashinsky, Bitcoin (BTC) received very strong support at around $30,000 to $33,000. The entrepreneur believes that Terra’s recent BTC purchase played a significant role in supporting BTC’s price, along with other institutions entering the market. He also mentioned that if retail investors join in, it may lead BTC to new highs.“I definitely think that the demand is here. So, I don’t see us revisiting previous lows.” On the other hand, Mashinsky also recognized that there are some “clouds in the sky.”  According to the Celsius CEO, if Russia continues its attacks on Ukraine, the pressure will be felt by public markets. Apart from this, he also noted that actions from the United States Federal Reserve may also lead to a negative turnout.Despite the hurdles, Mashinsky is confident that both Bitcoin and Ether (ETH) will reach new all-time highs in 2022. He explained that:“It’s going to take us longer to hit new highs. But I still expect us to break that $60,000 this year on Bitcoin, break the $4,500 on Ethereum.”Related: Blockchain.com co-founder thinks the EU and UK are ‘progressive’ crypto regulators Apart from price predictions, Hall and Mashinsky also talked about other topics such as the conversations surrounding decentralized finance and centralized finance. Commenting on Vitalik Buterin’s notions on the crypto space needing semi-centralized solutions, Mashinsky said:“He’s basically saying, look, we don’t have to be 100% DeFi. CeFi and DeFi are two sides of the same coin. And you sometimes you need to CeFi, sometimes you need to use DeFi, and that’s what Celsius does every day.”Lastly, the entrepreneur shared a simple trading strategy. According to him, if someone buys BTC and can’t sleep, “That means you have too much Bitcoin.” However, if one buys BTC and sleeps like a baby, they don’t have enough Bitcoin. “Find that sweet, sweet spot and just stick with it,” he said. 

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3.6M Americans to use crypto to make a purchase in 2022, research firm predicts

3.6M Americans to use crypto to make a purchase in 2022, research firm predicts

Uverejnil používateľ | apr 20, 2022 |

The number of adults in the United States who will use crypto to make purchases in 2022 will increase to 3.6 million, according to a research firm.A report published by Insider Intelligence shows that crypto’s value as a means of payment will go up by 70 percent this year. The firm predicts that by the end of the year, 3.6 million U.S. adults will have used crypto to make purchases. According to the company’s principal analyst David Morris, crypto’s volatility is being alleviated by the growth of stablecoin usage. As CBDCs are being developed, more focus will be brought to crypto becoming a means of payment. “We also expect that more crypto options will be layered into how people pay, like cards and digital wallets. These factors should spur high crypto payment growth rates over the next few years.”The firm also predicts that by the end of 2022, U.S adults who are crypto users will increase to 33.7 million. In 2023, the company expects that number to grow even further to 37.2 million. These numbers are significantly lower than previous claims of crypto ownership in the U.S. reaching 46 million in 2021. Yearly increase in crypto ownership among U.S. adults. Source: Insider IntelligenceMeanwhile, a survey conducted by Gemini exchange showed that new crypto investors nearly doubled in India, Brazil and Hong Kong last year. More than half of the survey participants within these countries mentioned that they started investing in crypto in 2021. Related: Survey: More than a quarter of U.S. millennials plan to use crypto to fund retirement A poll conducted by Arcane Research and Ernst & Young found that crypto ownership among Norwegian women also doubled, going from 3% in 2021 to 6% this year. On the other hand, the study also noted that male ownership also increased from 6% in 2019 to 14% in 2022. 

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Blockchain and oracles can help clean energy transition, study claims

Blockchain and oracles can help clean energy transition, study claims

Uverejnil používateľ | apr 19, 2022 |

New dynamics in the energy sector are compelling providers to shift to sustainable and clean energy to combat climate change. While many challenges accompany the clean energy transition, a report claims that blockchain has the potential to help the industry achieve its climate action goals. The report, titled “Managing Climate Change in the Energy Industry With Blockchains and Oracles,” was conducted by Tecnalia Research and Chainlink Labs. It outlines how blockchain features like tokenization, hybrid smart contracts, and blockchain oracles can be applied to the energy sector to manage climate change. Jose Luis Elejalde, an energy executive at Tecnalia said that within the infrastructure transformation period, the energy industry can use blockchain to “digitize and assign value to clean energy investments and design fully automated incentive systems for participating in sustainable practices.” According to the research, blockchains can be applied as a database in the settlement layer, smart contracts can be used to develop the application layer, and oracles can create connectivity in a specialized computation layer. Through these, the report highlighted various blockchain use cases like tokenizing carbon credits and smart grid management and explained that these can contribute to the clean energy transition. The research highlighted use cases like verifiable eco-data reporting through a hybrid smart contract system. The study cited projects like Hyphen that use oracles to provide greenhouse gas data within the blockchain and create proof that corporations are meeting their climate commitments. Apart from this, the report also mentioned the climate-focused blockchain insurance solution by Lemonade that deals with the effects of climate change like weather-related disasters by insuring farmers in Africa. Related: Are we misguided about Bitcoin mining’s environmental impacts? Slush Pool’s CMO Kristian Csepcsar explains William Herkelrath, an executive at Chainlink Labs said that “a data-driven backend infrastructure is critical to propelling the cross-sector collaboration needed to address the climate crisis.” Herkelrath also mentioned that oracles can give the energy sector the right tools to combat climate change. In an article written by Dr. Jane Thomason, she mentioned that blockchain can assist in the management of smart grids in decentralized energy markets and allow peer-to-peer energy trades. It can enable people to “buy, sell, or exchange excess renewable electricity” directly with each other.

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Kevin O’Leary-backed WonderFi to acquire Canadian crypto exchange Coinberry for $38.5M

Kevin O’Leary-backed WonderFi to acquire Canadian crypto exchange Coinberry for $38.5M

Uverejnil používateľ | apr 18, 2022 |

WonderFi Technologies, a decentralized finance (DeFi) platform, plans to continue its expansion in Canada by purchasing the Coinberry crypto exchange for $38 million. The platform will be the second regulated crypto exchange under WonderFi once the acquisition is finalized. The firm recently closed its acquisition of Bitbuy’s parent company First Ledger Corp. for $162 million. In an interview, Kevin O’Leary mentioned that there will be “several more and even bigger” acquisitions that are on the way. O’Leary also highlighted that the company is competing on the global stage while making sure that it’s on “a regulated basis.” The billionaire mentioned that the team is “not taking any risks” and are operating under regulated conditions. According to O’Leary, the customers of both platforms acquired will not see any instant changes. However, the Shark Tank star also noted that WonderFi plans to add features to each platform. With the acquisition of Coinberry, WonderFi will own two out of the six regulated exchanges in Canada. Bitbuy, WonderFi’s recent purchase became fully regulated after being licensed by the Ontario Securities Commission (OSC) in November 2021. On the other hand, Coinberry also registered in the OSC in August last year. Apart from the two exchanges, only four other platforms are registered for providing crypto trading. These include Wealthsimple, CoinSmart, Netcoins and Fidelity. Related: Mr. Wonderful plans to invest in mining company stocks Kevin O’Leary, formerly a Bitcoin skeptic, mentioned last year that his crypto holdings have surpassed his gold portfolio. However, O’Leary also mentioned that gold and Bitcoin (BTC) comparisons are irrelevant as they are “two different asset classes.” In an exclusive interview with Cointelegraph, the businessman compared investing in BTC to investing in tech firms like Google and Microsoft. According to O’Leary, when people invest in these firms, they are “investing in software.” O’Leary believes that investing in crypto is similar. 

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