Justin Sun announced that developers are currently working on a stablecoin transfer solution that can operate without gas fees on the TRON (TRX) network. The cryptocurrency billionaire said the new service will launch later this year, first on TRON and then expanding to Ethereum (ETH) and other EVM-compatible chains. “Our team is developing a new solution that enables gas-free stablecoin transfers. This means that transfers can be made without paying gas tokens, and the fees are fully covered by the stablecoin itself. This innovation will first be implemented on the Tron blockchain and will later support Ethereum and all EVM…
Author: Crypto Flexs
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BNB Chain has released a new multi-data storage solution for BNB Smart Chain (BSC) Geth nodes, which aims to address performance inefficiencies caused by rapid growth in data volumes. According to the BNB Chain Blog, this new approach addresses issues related to mixed data storage patterns, reduced query efficiency, and optimization conflicts within a single key-value database. Current task Currently, BSC node data is stored in a single key-value database instance, categorized by different prefixes. This setup has caused several problems. Storing mixed data with different patterns is inefficient. As database size grows, query efficiency…
Interoperability protocol ZKM has announced its launch plans. Bitcoin Bitcoin +0.72% A second layer solution called GOAT Network is expected to be launched in late Q3.According to a statement shared by The Block, the project claims its solution will be the first decentralized Bitcoin layer 2 with shared ownership of the network.“GOAT Network’s Bitcoin L2 launch is a powerful first step in ZKM’s efforts to unite the fragmented Web3 world,” said Kevin Liu, GOAT Network Core Contributor, ZKM Co-Founder, and Metis Co-Founder. “We strongly believe in decentralization and are excited to enable a shared ownership model from day one.”Decentralized Sequencer…
Bitcoin fell 3.89% on Mt. Gox redemption and German government selloff. 75.48% of BTC holders were “in profit”, indicating potential bullish sentiment. Cryptocurrency markets had another tough day as the global market cap fell to $2.4 trillion, down 3.33% over the last 24 hours. Bitcoin has taken a hit! Bitcoin (BTC) in particular has drawn significant attention over the past week, with its steep decline fueled by rumors surrounding the Mt. Gox redemption process. In fact, on July 5th, as Mt. Gox began redemptions, BTC fell to its lowest level since February. Source: www.mtgox.com To make matters worse, the German…
Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin data center company, announced the appointment of Ben Gagnon as its new Chief Executive Officer, effective immediately. According to the press release, Gagnon, who previously served as Chief Mining Officer, is expected to lead the company through its next phase of growth and expansion. Leadership Transition Gagnon brings extensive experience in Bitcoin mining to his new role. He joined Bitfarms in 2019 as Director of Business Development, was promoted to Director of Mining Operations in 2020, and became Chief Mining Officer in 2021. During his tenure, he has…
Taiwan has built a potential prototype platform. Central bank digital currency. Plans As central banks continue to research and develop CBDCs, they will hold several hearings and forums over the next year.Taiwan’s central bank governor Yang Jin-long said in a research paper released on Sunday that building a digital currency is not an international competition and the central bank has not yet set a firm timeline for issuing a CBDC. report At the completion ceremony of the Central News Agency.According to The Block, Prime Minister Yang is scheduled to present a report on the progress of CBDC development to Taiwan’s…
A new report from CoinShares reveals that $441 million worth of market buying opportunities flowed into digital asset investment products last week. The July 8 report also highlighted $398 million in inflows into Bitcoin (BTC). According to CoinShares, the weakness in the Bitcoin price, activity at Mt. Gox, and selling pressure from the German government are likely the reasons for the buying frenzy.Inflows were mainly to the United States at $384 million, followed by Hong Kong ($32 million), Switzerland ($24 million) and Canada ($12 million), while there was an outflow of $23 million from Germany. Last week was a big…
According to CoinShares, digital asset investment products have seen significant inflows totaling $441 million as recent price weakness is perceived as a buying opportunity. The inflows, led by Bitcoin (BTC) and various altcoins, represent a notable shift in investor sentiment.Bitcoin Dominates, Altcoins Gain PopularityBitcoin (BTC) led the way with $398 million inflows, accounting for 90% of the total. However, this dominance was unusual as investors also showed significant interest in a wider range of altcoins. Solana (SOL) stood out last week with $16 million inflows, taking its YTD inflows to $57 million, making it the…
Bitcoin (BTC) begins the second week of July on a risky note, with investors concerned about further declines in the BTC price.BTC/USD is hitting its lowest weekly close in four months, giving bulls a nightmare as unrealized losses mount and bigger hits are expected to come.Where will the market ultimately go?The trading community, already shocked by the scale of recent losses, is nonetheless bracing for lower levels. Historically, the current decline is still small, leaving the path open for a trip to $50,000 or lower. With this unpleasant situation in mind, long-time market participants are watching to see how major…
The German government continues to transfer bitcoins to central exchanges with the intention of selling them.According to data from on-chain analytics platform Arkham, 250 bitcoins were transferred to Bitstamp and 250 bitcoins to Coinbase from addresses listed as belonging to the German government. At current prices, the total is close to $28 million.An additional 500 bitcoins were sent to an unlabeled address that likely belonged to a centralized cryptocurrency exchange or OTC service.The German government currently holds 38,826 bitcoins in known addresses, worth a total of $2.17 billion. Germany’s weeks-long sell-off hasn’t been popular with everyone in the country’s government,…