Author: God of Knowledge
TCNH Stablecoin Now Available on Huobi: A Reliable Option for Digital Asset Management
Huobi’s Listing of TCNH Provides a Stablecoin Option for Users Worldwide, Building up its Presence in the Global Market and Paving the Way…
SBI VC Trade Offers High Staking Rewards for Polkadot, Avalanche, and Cardano
Japanese exchange’s move towards cryptocurrency adoption could attract more customers
SBI VC Trade, the Japanese cryptocurrency exchange subsidiary of SBI Holdings, has recently announced that it will disburse staking rewards to its customers. According to the report, SBI VC Trade will offer an annual staking reward of 13.9 percent for Polkadot, which will be the highest rate in Japan. Meanwhile, the exchange will offer an annual staking reward of 5.2 percent for Avalanche and 2.6 percent for Cardano.
Customers can store their Polkadot (DOT) tokens with SBI VC Trade to receive staking rewards. The staking rewards will be calculated from the date of storage, so customers are encouraged to store their tokens as soon as possible. For Tezos (XTZ) holders, the staking rewards will be announced on March 15 due to XTZ specifications.
SBI VC Trade’s move to disburse staking rewards is in line with its efforts to promote the adoption of cryptocurrencies in Japan. The exchange has been actively working to expand its services to cater to the growing demand for digital assets in the country.
The staking rewards offered by SBI VC Trade are competitive and could attract more customers to the exchange. It remains to be seen how this move will impact the exchange’s overall trading volume and market share, but it is a positive step towards the development of the cryptocurrency industry in Japan.
Our staking service is a service that rewards customers based on the results we receive. The service started on January 1st, but due to the time lag in receiving the rewards due to the specifications of XTZ, the initial rewards will be granted on March 15th. Our staking fee is 25% of the distributed staking reward.
Investors from the United States have strongly criticized the Securities and Exchange Commission (SEC) over its crackdowns on staking platforms.
Crypto investors in the US are becoming increasingly worried about how regulators are handling crypto staking, which has become a popular way for users to earn rewards by holding their cryptocurrency. The recent case involving Kraken, one of the largest crypto exchanges, has raised concerns among other platforms offering similar services.
Kraken recently agreed to pay a $30 million settlement to the U.S. Securities and Exchange Commission (SEC) and shut down its staking program. According to the SEC, Kraken failed to register its staking program as securities, which is required by law. This has led to fears among other crypto platforms that offer similar services.
In a video message, SEC Chair Gary Gensler highlighted the lack of proper disclosures made by most staking providers to their customers. This includes how the staked assets are protected, which is a crucial concern for users. The lack of transparency and regulation in the crypto staking industry has become a significant issue for investors.
This crackdown by regulators has caused concern among investors, who fear that it could lead to further action against other crypto platforms. While it is essential to ensure that investors are protected, the lack of clear guidelines and regulations is causing confusion and uncertainty in the industry.
As the popularity of crypto staking continues to grow, it is essential for regulators to establish clear guidelines to protect investors and provide transparency to the industry. Investors need to be informed and confident in their investments, and the lack of regulation and transparency is hindering this process.
When a company or platform offers you these kinds of returns, whether they call their services ‘lending,’ ‘earn,’ ‘rewards,’ ‘APY,’ or ‘staking’ — that relationship should come with the protections of the federal securities laws.
The U.S. Securities and Exchange Commission’s (SEC) stance on crypto staking has caused a stir in the industry. In a recent video message, SEC Chair Gary Gensler stated that staking providers should register with the agency as they represent unregistered securities. This has led to a response from Coinbase, one of the largest crypto exchanges in the US, which has refuted the SEC’s claims.
Brian Armstrong, the CEO of Coinbase, stated that the company’s staking services are not unregistered securities and that they are ready to defend their position in court. Coinbase has been offering staking services for several cryptocurrencies, including Ethereum, since 2019. The exchange has been vocal in its opposition to the SEC’s stance and has taken steps to protect its services.
The SEC’s recent actions against staking platforms have caused concerns in the industry. While it is essential to ensure that investors are protected, the lack of clear guidelines and regulations is causing confusion and uncertainty. Staking has become a popular way for users to earn rewards by holding their cryptocurrency, and the lack of transparency and regulation in the industry is a significant concern for investors.
Coinbase’s response to the SEC’s stance on staking is a positive step towards establishing clear guidelines and regulations for the industry. As the popularity of staking continues to grow, it is essential for regulators to provide transparency and protection to investors while also allowing for innovation and growth in the industry.
It remains to be seen how this situation will develop, but it is clear that the debate around staking and regulation is far from over. As the crypto industry continues to evolve, it is essential for regulators and industry players to work together to establish clear guidelines and regulations to protect investors and foster innovation.
Several users in the US have voiced their concerns and called on regulators to take a leaf from Japan’s book, as they feel that Japanese regulators are handling crypto staking services better than the SEC.
Ripple Express Worries
Stuart Alderoty, the Chief Legal Officer at Ripple, has strongly criticized the SEC for its crackdown on cryptocurrency firms.
The SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SEC’s bullying and clinging to stretch legal positions that were not faithful to the law.
The recent regulatory crackdown on the cryptocurrency industry is expected to impact regulatory clarity, as Ripple CEO Brad Garlinghouse has noted that regions outside the US are making progress towards achieving clarity in the law.
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SBI VC Trade Offers High Staking Rewards for Polkadot, Avalanche, and Cardano was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Hydra Protocol: Cardano’s Solution to Blockchain Scalability Challenges
Introducing the Proof-of-Concept and How Hydra Heads Handle Transactions
- Cardano’s pursuit of scalability will be aided by the upcoming launch of the Hydra Protocol.
- Sundaeswap team has tested the Proof-of-Concept (PoC) capabilities of the protocol that has been launched.
Introducing the Hydra Protocol: A Solution to Cardano’s Scalability Challenges
Developers on the Cardano (ADA) protocol have been working actively to address the scalability issues plaguing blockchain technology. The long-awaited Hydra Protocol has finally launched its Proof-of-Concept, which is now available for interested participants to implement.
Blockchain technology is widely regarded as the future of digital payments, but its scalability can be limiting. The Cardano blockchain, for example, can produce a block every 20 seconds, but the number of transactions that can be recorded in a block is quite limited. This poses a critical challenge as the blockchain network’s adoption grows and multiple users attempt to use the protocol simultaneously.
To tackle this challenge, the Hydra Protocol was designed to work in an offline environment, using the main Cardano blockchain as its core settlement layer. The goal of Hydra is to help circumvent scalability challenges and to enable the Cardano blockchain to achieve its key goal of becoming the most scalable Layer-1 protocol around.
Current technology makes it difficult to sustainably achieve the most scalable blockchain protocols, which typically permit only a few thousand Transactions Per Second (TPS). However, Hydra is projected to be capable of supporting up to 1 million TPS. This is a significant milestone and could potentially position Cardano at the forefront of the race to create the most scalable blockchain protocol.
The launch of the Proof-of-Concept is a major step towards achieving this goal. According to reports from Crypto-News Flash, the Cardano community has been eagerly anticipating the launch of the Hydra Protocol, and many developers and enthusiasts are expected to participate in its implementation.
The development of the Hydra Protocol is an important milestone for Cardano and the wider blockchain industry. With its potential to enable faster, more efficient transactions, it could have significant implications for the future of digital payments and the adoption of blockchain technology more broadly. As the developers continue to work towards refining and improving the protocol, it will be exciting to see how this technology will transform the future of blockchain.
Using Hydra Heads: How Cardano’s Hydra Protocol Handles Transactions
The Hydra protocol is a critical feature of the Cardano blockchain, enabling faster, more efficient transactions, but it’s not open to everyone. To use Hydra, a group of users who conduct transactions regularly must decide to open a Hydra Head. If the decision is made to open a Hydra Head, the participants must transfer funds from the Cardano blockchain to Hydra using an on-chain procedure.
Once the funds are transferred, they are locked up in a script, and all participants ensure equal funding, which is recorded on the blockchain. Participants can then send funds to one another offline, enabling thousands of transactions to be conducted simultaneously. By opening multiple Hydra Heads, it’s possible to achieve the one million transactions per second (TPS) rate projected for Hydra, while ensuring that transactions on the main Cardano blockchain continue to run smoothly.
The transactions on Hydra Head are backed by Plutus Scripts, which means that multiple transactions can be processed simultaneously in different Hydra Heads. If necessary, it’s possible to close a Hydra Head, and the corresponding value of each participant’s funds is calculated to ensure that no one is cheated out of their investment.
The Sundaeswap team has already run a Proof-of-Concept (PoC) on the protocol, showcasing the potential of Hydra to transform the future of blockchain technology. While the protocol is not yet open to everyone, its potential to enable faster, more efficient transactions has captured the attention of the Cardano community. As the technology continues to evolve and more users adopt it, Hydra could play a critical role in enabling the creation of more scalable and efficient digital payment systems.
In conclusion, Hydra is an innovative approach to solving the scalability challenges that have long plagued blockchain technology. By enabling transactions to be processed offline and by using a network of Hydra Heads, Cardano can achieve its goal of becoming the most scalable Layer-1 protocol. As the protocol is refined and improved, it has the potential to transform the way we think about digital payments, opening up new possibilities for faster, more efficient, and more secure transactions.
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Hydra Protocol: Cardano’s Solution to Blockchain Scalability Challenges was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Sigma Network
https://medium.com/coinmonks/sigma-network-mining-fb230661fdbd?source=rss----721b17443fd5---4
Sigma Network – The NFT DeFi project. Discover the benefits of crypto mobile mining without expensive mining equipment, computers, graphics cards.
What is Sigma Network & is it reputable?
Sigma Network is currently the newest and best alternative to Pi Network, the most popular mobile mining app.
How many times have you thought if only I had invested, if only I had pressed once a day in a mining app on the cell phone. And yet you continue with this behavior.
But now you have the chance to really be there from the beginning.
I’ll give you an example:
In the beginning you received 5, 10 or more Pi Coin daily at Pi Network, but now it’s only 0.00…. Coins.
If you had joined at the start you would have 15000 Pi and many more.
Meanwhile, one Pi is worth $50, although trading is still restricted by Pi Network.
Sigma Network Instructions
1. download the app Sigma Network from your Google Playstore or Apple Appstore.
2. enter your email, first and last name, and a username of your choice (provided that it is not already taken)
3. enter the following as an invitation code (a username): Sigmas
So you get 5 SIGM right at the beginning.
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Sigma Network was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Siemens Partners with Polygon to Issue €60M Digital Bond on Blockchain
Siemens, the third-largest publicly traded company in the world, has issued its first digital bond on the Polygon blockchain, signaling a move towards streamlined and efficient transactions, and increased adoption of digital assets in the financial industry.
- To ensure the occurrence of blockchain-based debts, the Electronic Securities Act introduced by Germany in June 2021 was the basis for issuing the bond.
- The bond has been purchased by financial institutions such as DekaBank, DZ Bank, and Union.
Siemens issues first digital bond on Polygon blockchain
Polygon has recently announced several partnerships with companies from various industries. The latest addition to Polygon’s portfolio is Siemens, the third-largest publicly traded company in the world, known for its engineering and manufacturing capabilities. Reports suggest that Siemens has issued its first-ever digital bond on the Polygon blockchain, valued at €60 million ($64 million).
The bond was issued in compliance with Germany’s Electronic Securities Act, which was introduced in June 2021 to facilitate the use of blockchain-based debts. The trend of blockchain-based bonds is on the rise as more companies seek to minimize paperwork and reach potential buyers directly without intermediaries such as banks. This move is expected to accelerate the adoption of digital assets and blockchain technology across the financial industry.
While refraining from disclosing the interest rate for the bond, Peter Rathgeb, the corporate treasurer at Siemens, expressed optimism about the efficiency and speed of transactions on the Polygon blockchain.
By moving away from paper and toward public blockchains for issuing securities, we can execute transactions significantly faster and more efficiently than when issuing bonds in the past.
Siemens has been exploring the potential of blockchain technology in various fields for several years, including payments and debt issuance. Since June 2021, the company has focused on the blockchain-based bond market and has found it to be a particularly intriguing venture. The bond issued on the Polygon blockchain by Siemens has a maturity of one year, indicating the company’s short-term interest in the use of blockchain technology.
The firm declared:
makes paper-based global certificates and central clearing unnecessary. What’s more, the bond can be sold directly to investors without needing a bank to function as an intermediary.
DekaBank, DZ Bank, and Union are among the notable companies that have purchased the recently issued digital bond by Siemens. It’s worth noting that the bond was organized by Hauck Aufhäuser Lampe Privatbank, which served as the bond registrar and provided custody for the digital asset keys. The digital asset unit of Hauck Aufhäuser Lampe Privatbank is headed by Simon Seiter, who previously led the Digital Assets unit at Deutsche Börse for two years.
Siemens has been exploring the potential of blockchain technology in various areas and has established partnerships with companies like JPMorgan to create a blockchain-based payment system in 2021. The company has also utilized blockchains for bank guarantees in the past.
By using public blockchains to issue digital bonds, Siemens aims to streamline and simplify transactions while reducing the need for intermediaries. While Siemens is among the few companies to issue digital bonds on public blockchains, banks such as Societe Generale, Santander, and the European Investment Bank have been the primary issuers. The Deutsche Börse has also facilitated several issuances through its D7 platform, but these have been on a centralized ledger.
Ralf P. Thomas, the CFO of Siemens AG, commented:
We are proud to be one of the first German companies to have successfully issued a blockchain-based bond. This makes Siemens a pioneer in the ongoing development of digital solutions for the capital and securities markets.
As a result of this partnership, the price of Polygon (MATIC) has surged by 9 percent in the last 24 hours, with the coin currently trading at $1.35.
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Siemens Partners with Polygon to Issue €60M Digital Bond on Blockchain was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Cardano’s Valentine Upgrade Boosts ADA Price and Interoperability Capabilities
The Recent Upgrade and Future Developments Expected to Drive Cardano Adoption and ADA Utility