For years, Ethereum has been the darling of the developer community. As decentralized applications (DApps) and non-fungible tokens (NFTs) exploded on the Ethereum network, Bitcoin struggled to match its popularity for this purpose. It’s easy to see why developers preferred Ethereum to Bitcoin for building solutions. The network’s higher throughput and Turing completeness meant that complex applications could be built…
On Thursday, the investment firm Vaneck published a blog post that calculates how much gold or bitcoin would be worth if the two assets became global reserve assets. Vaneck’s report explained that the investment team “attempted to quantify the emergence of new gold or bitcoin-backed currency regimes.” The study’s calculations estimate that gold could reach $31,000 per ounce and bitcoin…
This week in coins. Illustration by Mitchell Preffer for Decrypt. After slow starts to the year, Bitcoin hit a 2022 high on Monday and Ethereum posted big gains into the weekend, and several top 30 currencies mooned over the last week. Bitcoin on Monday hit a 2022 high of $48,086.84, a price not seen since New Year’s Eve. As of…
Crypto is the next big thing in Indonesia. According to the Ministry of Trade, transactions for currencies like Bitcoin (BTC) grew over 14 times from a total of 60 trillion rupiahs ($4.1 billion) in 2020 to a total of 859 trillion rupiahs ($59.83 billion) in 2021. It’s getting to the point where crypto is becoming more popular than traditional stock.…
Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster) DeFi token Terra (LUNA) continues to rise. But this past week, so did Bitcoin—and Terra is involved. It’s all about Terra founder Do Kwon’s ambitious plan to turn Bitcoin into Terra’s very own reserve currency. How exactly is he doing this? By smashing the buy button. The Luna Foundation Guard…
Crypto trading volumes in India have plummeted following the new tax law entering into force. The new rules impose a 30% flat tax on crypto income and do not allow losses to be offset against gains. New Crypto Tax Rules in Effect The new crypto tax rules entered into force on April 1 after the country’s parliament approved Finance Bill…
AR and the Metaverse is like a good marriage. You can use them apart from each other, but they’re better together. The Metaverse is a digital landscape that participants can use to build their own virtual environments. It’s a network of different virtual worlds that you can enter through by wearing VR goggles. But, here’s a question: Can you tell…
Anyone who has family in Africa or friends on the continent understands how difficult it is to transfer money via remittances outside of Bitcoin. With the recent government banning of Twitter and continual debasement of the naira in Nigeria, the process can be very frustrating. For many, it’s not necessarily the promise of profit that gets poor people on board…
NEAR has risen by over 20% during today’s session, pushing prices to their highest level since late January. AXS also rebounded on Saturday, following a $640 million hack, which sent its price down this week. NEAR Protocol (NEAR) NEAR was undoubtedly one of the biggest gainers in crypto markets to start the weekend, as its price gained by more than…
The promise of Web3 is that we’ll get all the stuff we like about the internet, but with more privacy and a blockchain-based architecture to keep our data more secure than before. Well, that’s the theory. In reality, Web3 is becoming a security nightmare as a slew of recent hacks has left some wondering if they should just turn our…
