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ConsenSys establishes in Dublin

As reported in Silicon Republic, blockchain and ethereum company ConsenSys is in the process of setting up in Dublin with over 60 blockchain jobs on the way. Known for providing a platform that many etheruem based platforms are using, as well as a lab which is putting our a wide variety of infrastructure, products and platforms for the blockchain, this is continued good news for Dublin as we see a number of companies now setting up labs in the city.

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As reported in Silicon Republic, blockchain and ethereum company ConsenSys is in the process of setting up in Dublin with over 60 blockchain jobs on the way.

Known for providing a platform that many etheruem based platforms are using, as well as a lab which is putting our a wide variety of infrastructure, products and platforms for the blockchain, this is continued good news for Dublin as we see a number of companies now setting up labs in the city.

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Source: https://bitcoinsinireland.com/consensys-establishes-in-dublin/

Blockchain

Cudos Partners With Zero Services

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[PRESS RELEASE – London, England, 21st September 2021]

As we accelerate towards Mainnet, we’ve launched our incentivized public testnet – Project Artemis. To assist potential individual Validators in joining the network, we’ve partnered with a European managed services and co-location provider, Zero Services.

Zero Services GmbH is a team of crypto enthusiasts, providing managed services, monitoring, and operating multiple PoPs (point of presences) spread across Europe, Asia, and South America.

Their current promo consists of co-location (power, cooling, physical security), connectivity (internet access), and hardware renting. They’re optimized for Validator operations, assembling hardware specs you provide and installing, operating, and monitoring your Cudos instances.

The primary location for Zero Services is Europe’s internet hub – Frankfurt, Germany. The company is also in Finland, Netherlands, Spain, Singapore, while Japan and Brazil will be coming soon.

“We are very excited about our new partnership with Cudos, as we are constantly looking for decentralised storage and computing projects, which will offer products with a vision to connect blockchain with the traditional business world. Moreover, Cudos empowers an efficient use of computational resources and unites this with decentralisation for additional security to the network.

We’d also love to enable people to have new revenue streams provided by their hardware. We know that with Cudos, we have found a partner who can help us achieve all this“, said Denis Pavlak, CEO of Zero Services GmbH.

“Running a validator node for any project can be technically challenging and time-intensive. This often puts it out of reach for token funds and community buyers who wish to contribute to the network beyond the passive earning they get from staking. In Zero Services, we have secured an experienced and reputable hosting provider that fully manages the validator node for the operator. Their team has also joined our validator community on Discord, offering assistance and advice to those running Validator nodes. They truly embody the blockchain ethos of ‘community’ and we are proud to have them as a partner”, added Pete Hill, our VP of Sales.

How to contact Zero Services?

If you want to join the Cudos network but want hassle-free onboarding and constant support, reach out to Zero Services GmbH via Telegram, email, Twitter, or check out their website.

About Cudos

The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralized, permissionless access to high-performance computing at scale and enable scaling of computing resources to 100,000’s of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.

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Source: https://cryptopotato.com/cudos-partners-with-zero-services/

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Indian government cautious about crypto-adoption, CBDC is a possibility

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Indian traders and exchanges might be bullish about the crypto market, but the Indian  government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

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Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

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Blockchain

Assessing the odds of Solana dropping below $100 soon

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A $100 investment in Solana a year back would have led to a $5000 return on investments right now. The digital asset has undoubtedly taken the market by storm and over the past couple of months, its valuation has parabolically risen.

However, thanks to a major invalidation on the daily chart, a correction is possibly due for the token now. Especially since bullish momentum is collectively taking a hit across the industry.

Solana is no longer rallying on its own. And, according to recent developments, it might undergo a period of correction over the next few weeks.

Levels to keep track of during Solana’s correction 

Source: Trading View

Analyzing the current market structure of Solana, the asset hit an all-time high of $215 on 9 September. However, it was unable to hold a position above the $200-level for long. With Bitcoin consolidating strongly between $45,000 and $50,000 during that period, Solana may have found it relatively easy to continue on its bullish path since liquidity and capital flows were evident across the industry.

However, with bearish dynamics coming into play now, it is important to understand the liquidity pools presently evident for the asset. One major invalidation faced by Solana at press time was the crossover between the 20-Simple Moving Average and 20-Exponential Moving Average.

The SMA moving above the EMA on the daily timeframe is considered a strong bearish signal. At the time of writing, for instance, the asset was well away from any form of recovery.

Source: Trading View

Now, in terms of identifying levels, Solana’s previous trend suggested that the asset has a tendency to bounce back from the 0.618 Fibonacci level. During the early 2021 rally, the asset went up to $64 before dropping down to $23 in the month of July. A similar reciprocation of trend would see Solana drop below the $100-mark, with the current 0.618 Fib line residing around the $96-mark.

As far as support is concerned, the previous high of $64 is a strong weekly level. It might get tested if bearish pressure persists across the ecosystem.

Institutions can still rescue its plot

Besides market corrections, Solana hasn’t been followed by positive development since its network witnessed a 17-hour downtime following a DDOS attack. The downtime has been speculated to be one of the primary reasons for the 35% collapse last week.

However, to be fair, SOL‘s credentials were already shaky above $200, and profit-taking was at large.

On the contrary, according to Coinshares‘ digital asset fund report, institutions have overlooked Solana’s minor hiccup as the asset class registered another $4.8 million in capital inflows.

While that is positive, it is important to note that such capital investments are made with the future in mind. Not immediate returns. Hence, recovery on the basis of this investment may or may not unfold since profit-taking on the retail side of the market controls the larger market.

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Source: https://ambcrypto.com/assessing-the-odds-of-solana-dropping-below-100-soon

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