The National Bank of Rwanda (BNR) has opened its feasibility study on a retail central bank digital currency (CBDC) for public comment. BNR is considering a national digital currency that will incorporate the latest technological innovations and be highly customized to local conditions.BNR said the retail CBDC would advance Rwanda’s cashless economy initiatives and increase the resilience of a financial system that is still prone to power outages. The central bank expects to spend $35 million over the next five years to print and maintain cash supplies, despite its cashless target. BNR is proposing an interest-free intermediary CBDC with interoperability…
Author: Crypto Flexs
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As part of our tiered release process, we will soon begin the final steps ahead of the Frontier release. So far, the ongoing proof-of-concept IX testnet has been running smoothly for about a month, with dozens of nodes, over 200,000 blocks, and clients from around the world.
Posted 1 minute ago In ~ Core Scientific, a North American Bitcoin mining company, had a very busy first quarter of this year.First, after emerging from bankruptcy, the stock began trading on the Nasdaq again, and the company has now reported a big turnaround, posting net income of $210.7 million.This compares to the first quarter of last year, when Core Scientific reported a loss of about $400,000. In an earnings report released Wednesday, the company said net income for the quarter was “pre-debt extinguishment gain of $143.8 million.”Bitcoin miners said they mined 2,825 bitcoins of their own during this period,…
The Cardano Foundation, headquartered in Zug, Switzerland and responsible for cryptocurrency ADA, announced the appointment of Giorgio Zinetti as Chief Technology Officer (CTO). This initiative highlights the Foundation’s commitment to driving Cardano’s next phase of growth and innovation in the blockchain sector. Cardano Appoints New Chief Technology Officer Newly appointed CTO Giorgio Zinetti brings a background in technology development and strategic planning to the Cardano Foundation. His role will focus on expanding Cardano’s product offering and enhancing open source technology to develop blockchain solutions. Cardano Foundation CEO Frederik Gregaard expressed enthusiasm about Zinetti’s appointment, calling it a milestone for the…
Cryptocurrency bank Anchorage Digital is attracting attention by suddenly accumulating a large amount of single decentralized finance (DeFi) altcoins. Blockchain tracking company Lookonchain Called Anchorage Digital has amassed more than $49.4 million in MKR, the DeFi protocol maker’s native token, using 13 wallets over the past month. The most recent purchase occurred on Monday, when Anchorage Digital purchased $6.28 million worth of MKR from Binance using two newly created wallets, according to Lookonchain. At the time of writing, MKR is trading at $2,816, down 1.4% in the last 24 hours. Look on chain too notice One talented investor quickly made…
In a major move into the digital asset space, UK banking app Revolut has unveiled Revolut X, a dedicated cryptocurrency trading platform for UK retail customers. According to Fortune Magazine reportThe launch of the new platform signals Revolut’s commitment to the cryptocurrency industry and positions the company to compete with major players such as Coinbase and Binance. Revolut continues its cryptocurrency push with new platforms Interestingly, with a user base of over 40 million, Revolut is one of the largest fintech companies in the world. The new platform will reportedly allow traders to buy and sell more than 100 tokens.…
Bankrupt digital asset exchange FTX revealed its repayment plan to compensate creditors for damages. Repaying all claims and providing additional compensation for the time value of investments is the goal of this plan, which is being implemented pursuant to permission from the U.S. Bankruptcy Court for the District of Delaware. repayment strategy The strategy presented includes a recovery rate of 118% for creditors with claims less than $50,000, which equates to 98% of FTX creditors by number of claims. Additionally, creditors with claims worth more than $50,000 will receive a full refund as well as…
Ethereum co-founder Vitalik Buterin proposed a joint idea to improve account abstraction to standard on-chain addresses. This concept, called Ethereum Improvement Proposal (EIP) 7702, introduces a new transaction method that allows Externally Owned Accounts (EOAs), also known as Ethereum (ETH) accounts, to run smart contract wallet functions. After the transaction is completed, the EOA reverts to its default state. Buterin co-authored EIP-7702 with Ansgar Dietrich, Matt Garnett, and Sam Wilson to provide better synergy with the smart contract functionality contained in EIP-4337. According to Uniswap founder Hayden Adams, EIP-7702 also offers quantum resistance. delegate For EIP-3074, the developers were concerned…
The powerful combination of the Internet and ubiquitous smartphones has led us to ask whether we would bother to remember the world’s knowledge if it was so readily available wherever we went. With AI rapidly gaining mainstream adoption, people are naturally looking for ways to minimize or prevent work. But what does that mean for our brains?They say that, at least among college students, excessive use of generative AI tools like ChatGPT can lead to procrastination, memory loss, and poor academic performance. Recent research “Is it harmful or helpful?”The research International Journal of Educational Technology in Higher Education—We found that…
Polkadot (DOT) is correcting gains due to $7.5 resistance against the US dollar. If the price stays above the $6.75 support, another hike could begin. DOT picked up the pace and tested the $7.5 resistance level against the US dollar. The price is trading in the $7.00 area and above the 100 simple moving average (4-hours). On the 4-hours chart of the DOT/USD pair, there is a short-term expanding triangle with resistance forming at $7.50 (data source from Kraken). Failure to hold above the $6.75 support level could lead to the pair continuing to fall. Polkadot price maintains support After…