Autor Cointelegraph By Zhiyuan Sun

Binance US launches low-barrier Ethereum staking ahead of The Merge

On Wednesday, the U.S. subsidiary of cryptocurrency exchange Binance announced that it would introduce an Ethereum (ETH) staking program with annual percentage yields of up to 6.0%. Unlike direct staking on the Ethereum network, which would require 32 ETH, only 0.001 ETH would be required under the new service introduced by Binance US. Regarding the development, Brian Shroder, CEO of Binance US, said: “ETH plays a critical role in the broader Web3 ecosystem. As the Ethereum network continues to transition towards The Merge, we are thrilled to offer ETH staking with some of the highest APY rewards in the industry.”The staking yields are in part boosted by features such as Binance US’ automatic restake, which enables the compounding of returns. However, users cannot unstake ETH at the moment, and rewards will not be distributed until Ethereum first transitions from a proof-of-work blockchain to proof-of-stake through the upcoming Merge upgrade scheduled for Sept. 15. Then, through a future “Shanghai Upgrade” contingent on successful Merge completion, users will then be able to withdraw their staked ETH.Due to the complicated nature of the upgrade, there is no guarantee that the transition will be smooth. Users’ funds are, therefore, subject to risks such as prolonged return of funds or loss of principal if the upgrade fails. Binance US says it has no control over the manner and ultimate amount of staked ETH investors can receive back. At the time of publication, 21.6% of Ethereum nodes remain unsynced to The Merge upgrade. 

Čítaj viac

Number of unique BAYC buyers plunged in August to second-lowest on record

According to data from cryptoslam.io, the number of unique buyers for the nonfungible tokens (NFT) collection Bored Ape Yacht Club (BAYC) has fallen to 263 for the month of August, with 438 total transactions. These metrics were the second-lowest on record since the collection’s launch in April 2021. Since crypto winter began earlier this year, the average transaction value of BAYC NFTs has fallen to $106,456, compared to a peak price of $312,101 per ape collectible in April 2022. In May 2021, the collection saw the peak number of buyers and transactions, at 3,550 and 9,255, respectively.An estimated $55 million worth of BAYC and CryptoPunks NFTs are at risk of liquidation due to users pledging them as collateral to take out loans denominated in Ethereum — the price of which has fallen drastically in value in recent months. Yuga Labs, the owner of both collections, are also facing a class-action lawsuit alleging that the firm “inappropriately induced” the community to buy BAYC NFTs at an “inflated price.” In the first half of the year, the BAYC community Discord was breached three times as hackers deployed sophisticated phishing techniques in attempts to access the lucrative NFTs. To date, the sale of BAYC NFTs has surpassed 850,597 ETH or $2.4 billion at today’s prices. Cointelegraph previously reported that asset trading platform OpenSea saw NFT transaction volumes plunge 99% from peak. 

Čítaj viac

PraSaga awarded U.S. patent for placing computer operating system onto the blockchain

According to a new United States Patent and Trademark Office publication on Tuesday, Swiss-based blockchain startup PraSaga has been awarded a patent placing its operating system, dubbed “SagaOS,” on the blockchain. Titled “Systemic Extensible Blockchain Object Model Comprising A First-class Object Model And A Distributed Ledger Technology,” the methods described in U.S. patent no. 11436039B2 relate to processing multiple message passing transactions via blockchain. At present, smart contracts only allow for processing just one transaction or action at any given time. However, PraSaga claims that its proprietary methods, as described in the patent, can allow for the execution of multiple actions simultaneously and in greater numbers. The SagaOS team said they hope to establish an operating system on the native SagaChain that stores the class trees and logic for smart assets saved into individual accounts on SagaChain.With regard to the development, David Beberman, PraSaga’s co-founder, chief technology officer and inventor of the technology, said:”SagaOS is going to improve the ability for developers to create applications, manage their codebases, and address real-world challenges. We set out to address parallel processing of transactions and in the process built a method for writing blockchain applications that more closely matches other applications environments.”The patent, which was filed in 2019, took three years to be granted. PraSaga does not yet have its own publicly traded token nor its mainnet. Based on its roadmap, the firm plans to complete both tasks by the end of Q2 2023. Hester M. Peirce, commissioner of the U.S. Securities and Exchange Commission, once praised PraSaga as a potential “Transportation Security Administration [U.S. air travel pre-security clearance] precheck” for the regulatory use of blockchain.

Čítaj viac

Circle co-founder says converged dollar books on Binance would be good for USDC

According to a new Twitter post, Jeremy Allaire, co-founder and CEO of USD Coin (USDC) stablecoin issuer Circle, said that the recent decision by Binance to merge stablecoin dollar books is “a good thing” for USDC. “This move would lead to a gradual net share shift from USDT to BUSD and USDC,” said Allaire. The day before, Binance announced it would cease trading support for USDC and auto-convert deposits after Sept. 29 to a consolidated Binance USD balance comprising other stablecoins pegged to the U.S. dollar. Users will be able to withdraw individual constituents from the consolidated balance at par value.Some users pointed out that it’s now possible to deposit and withdraw USDC seamlessly in Binance. Before the change, it was required to first convert USDC to BUSD or USDT and then use it to trade leveraged products. Therefore, the overall liquidity of USDC would increase. However, others pointed out that the automatic conversion could potentially result in greater redemption of USDC to mint more BUSD. According to Nansen, USDC held by Binance has decreased to less than 1 billion from 2.5 billion in July. Meanwhile, the exchange holds around 5 billion USDT.Data from Dune Analytics suggest that USDC is currently the second-most popular stablecoin in the world, accounting for 33.5% of transactions in the category. It has been gaining in market share since two years prior. Tether is currently the most widely-used stablecoin, with a market share of 50.3%. Meanwhile, Binance USD sits in third place with 15.1%.

Čítaj viac

Mayo Clinic taps into blockchain technology for clinical trial design

On Thursday, Dutch blockchain startup Triall announced that it has partnered with American nonprofit medical center Mayo Clinic to optimize clinical trial design and the management of study data. Starting this September, Triall’s eClinical platform will support a two-year multi-center pulmonary arterial hypertension clinical trial that includes 10 research sites and more than 500 patients across the United States. The software will support activities such as data capture, document management, study monitoring and consent. As told by Triall, the purpose of the collaboration is to demonstrate an immutable public ledger audit trail through its blockchain technology to boost the integrity of clinical trials. Investigators, regulators and stakeholders can then review and assess such trial-related data with trust, knowing that no one can modify the records.In the U.S., the median cost of a clinical trial investigating new drugs or therapies is estimated at $19 million. Approval rates for new chemical entities and biologics typically hover between 10% and 20% from the preclinical phase to finish and can often take years of investigation.Launched in 2018, Triall has commercialized its first blockchain product, Verial eTMF. It enables researchers to generate verifiable proofs of tauthenticity of the clinical trial documents, such as patient diagnosis data. In addition, the firm is developing APIs through eClinical that enable existing third-party clinical trial software providers to connect to Triall’s blockchain infrastructure. The native TRL token is designed for ecosystem utility, such as paying compensation to clinical trial participants. If successful, Triall plans to further collaborate with the Mayo Clinic in the realm of decentralized medical research. 

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy