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DeFi – Why Bitcoin’s Decentralized Financial System is Important for Human Rights?

Since the inception of Blockchain, Bitcoin, and related technological architectures, the focal area mostly has been around financial services, medical and healthcare industry, logistics, and transportation industry. But one may see it as focusing just on the short-term and neglecting the long-term alterations which may pop-up on the ground. Such technologies will surely aid numerous […]

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Since the inception of Blockchain, Bitcoin, and related technological architectures, the focal area mostly has been around financial services, medical and healthcare industry, logistics, and transportation industry. But one may see it as focusing just on the short-term and neglecting the long-term alterations which may pop-up on the ground. Such technologies will surely aid numerous industries, but in the long-term, people across the world are the one’s who would be employing it. So, in a crux, human beings would benefit if one tries and scrutinize from a macro-level perspective. Make no mistake, the aid to humans would be observable only if the algorithms would be written in a specific manner, and humans would use it thinking it to be of some assistance.

The global hub for Bitcoin – USA or Europe?

Since the
industrial revolution, there has been a close competition between the United
States of America and Europe. Starting with automobile innovation and military
power among others, and then coming to technological innovations. Both the
nations have been seen as the 1st and 2nd top students in
a class (metaphorically speaking). Similarly, there has been a cut-throat
competition with regards to developing Blockchain and Bitcoin tools and
frameworks. Just like the Silicon Valley of USA, Malta, located at Southern
Eastern Europe is said to among few Bitcoin hubs in Europe. With GDPR being deployed on the ground a few years ago, some
may perceive Europe to be one step ahead of the USA at the moment. But one
never knows what may happen tomorrow. The best thing to do is to keep one’s fingers
crossed and hope for the best.

Regulatory patterns with DeFi being kept in the background.

Pattern finding
and recognition have become somewhat a necessity to examine and forecast
forthcoming potential scenarios. Medical, logistics, and financial services
industries have experienced a small fraction of the technology in the past few
years. But as the architecture is new, regular input is crucial for machine
learning, neural networking and similar technologies to showcase maximum yield
at the end of the day. Considering policy making and regulating, and legal
structure as a whole, the alterations w.r.t DeFi should be altered immediately.
As transactions could be done anywhere across the world, and higher usage is
being observed because of an increase in trust factor (among others), policymakers and DeFi developers should together design, build, and implement laws
according to every nation. To overcome the illicit dealings happening across online channels (also sometimes
referred to as the dark web), the focal point must be pattern finding,
recognition, and modifying according to a scenario and nation as well.

Increase in Robustness of Decentralized Frameworks in ambiguous scenarios.

With more
developers and users entering the decentralized frameworks, interoperability
and adaptability while keeping the data/money secure be of utmost necessity. Such
a feast may take a few experiments before experiencing the desired output. Due
to cost-effectiveness and more technical experts in the market today, a higher
number of potential prototypes are being developed in short intervals. For
robustness to get heightened in DeFi’s architecture, one will need to first understand thoroughly its
building blocks. Just like the internet protocol suite, DeFi also uses a
multi-layered framework, which encompasses:

  1. The
    Settlement Layer
  2. The
    Asset Layer
  3. The
    Protocol Layer
  4. The
    Application Layer
  5. The
    Aggregation Layer

It might seem
obvious that each layer in interconnected for completing a specific task. In
this piece of research, a macrolevel description is shown through a diagram
about the interrelation between developers, merchants, bitcoin grid, exchange
platforms, and the rest of the variables that help the decentralized framework
operate swiftly and with utmost precision.

Digital Asset Market.

A digital asset consists of a lot of variables like:

The market for
digital assets came into notice after social media platforms (mostly which are
used across the world), i.e. around 2009.

But when it comes
down to evaluation from a venture capitalist’s perspective, there’s a lot of
uncertainty among those building it, offering it, and using it as well. The
principal value of an asset is the current value of payoffs including the
complete available appropriate information. As DeFi is decentralized, and not
managed by an authority, it’s value changes with time. That is one factor of
uncertainty among people in the DeFi ecosystem. Cybersecurity and
crypto-economics and relatable variables are gradually picking up the pace in
narrowing down the fear of uncertainty.

Can Social Bitcoin sustain a Democratic Digital World?

Intermixing
Bitcoin, Sociology could seem to be a fascinating idea at the face value, but
until it’s not implemented and experimented on small clusters, it too soon to
tell whether a social Bitcoin could sustain a Democratic digital world. If one
delves into and examines the sociological patterns financially in different
centuries, there’s a narrow hope. But if similar concepts are applied with an
appropriate mindset from people building and those using it, then there might
be a lot of hope in the coming times.

One big benefit of using Bitcoin with sociology kept in mind at the back is that the
whole ecosystem works including micromanagement and micromanagement as well. Unlike
a centralized environment, a decentralized ecosystem modifies when required. It
doesn’t wait until everything is at the tip of a breakdown. Besides that,
developers and venture capitalists operate simultaneously, meaning, if a
cluster of developers built an application that surpasses others, the
developers receive some form of incentive/bonus which helps in building more productive
tools in the future. Such a scenario might not be visible with clarity because
of complications in the regulations, policies, and the overall functioning of a
centralized framework. A multi-dimensional financial system is one potential
approach to resolving the financial mess may nations are experiencing (according to this piece of research). Some portion of the worldwide population are
preferring to use digital currencies than currencies in physical form.

Concluding
Remarks:

After going
through the current scenario in nations where a major focus is given on
R&D, scrutinizing from the market’s point-of-view, seeing how to intensify
the robustness, and finally examining if a social Bitcoin could sustain the
digital world, it might be appropriate to say a lot of trial-and-error’s need
to happen before finalizing it. Even after finalizing it, one shouldn’t be
hesitant to build a fresh architecture from scratch.

The post DeFi – Why Bitcoin’s Decentralized Financial System is Important for Human Rights? appeared first on PrimaFelicitas.

Source: https://www.primafelicitas.com/defi-why-bitcoins-decentralized-financial-system-is-important-for-human-rights/?utm_source=rss&utm_medium=rss&utm_campaign=defi-why-bitcoins-decentralized-financial-system-is-important-for-human-rights

Blockchain

Robinhood Testing New Cryptocurrency Wallet as Demand Rises

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The millennial-focused trading portal is edging closer to launching a long-awaited app that will enable its growing user-base to send and receive cryptocurrencies.

A beta version of Robinhood’s iPhone app showed the company’s latest upgrades on the new digital asset features, according to Bloomberg.

There is a hidden image showing a waiting list for users eager to get their hands on the app and code referring to crypto transfers, it added.

Delving Deeper into Crypto

Robinhood users can already buy and sell cryptocurrencies on the platform but they need to convert them to and from USD. With a native app, users will be able to send crypto assets to each other directly and set up two-factor authentication for additional security.

Robinhood Chief Executive Officer Vlad Tenev stated that adding crypto wallets is a priority for the company’s developers and they are actively working on such.


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“The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

He did not specify a launch date, but the beta app leak suggests it is not too far away. Users of the new functions will need to activate crypto sending and receiving and the registration page will require an identity check, the report added.

On Sept. 11, CryptoPotato reported that Robinhood had launched incentives to promote longer-term cryptocurrency investing. The zero-fee recurring purchase feature enables users to schedule digital asset purchases for regular intervals with buys as low as a dollar.

This will encourage customers to build their cryptocurrency portfolios over time and “become a whole coiner,” stated Robinhood.

Robinhood Users Hungry For Crypto

Cryptocurrency trading has been one of the biggest drivers of revenue for Robinhood this year. Dogecoin has been the crown jewel, according to the company. It reported that 62% of its $233 million in second-quarter crypto income came from DOGE trading.

It added that more than half of all transaction-based revenue on the platform came from digital asset trading. The firm did warn that Q3 would not be as prosperous due to “seasonal headwinds and lower trading activity across the industry.”

Robinhood share prices have already fallen 43% since their all-time high of a little over $70 in early August. They are currently trading down 1.68% since Monday’s open at $40.70 according to Yahoo! Finance.

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Source: https://cryptopotato.com/robinhood-testing-new-cryptocurrency-wallet-as-demand-rises/

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Blockchain

Snoop Dogg Reveals His Connection With Twitter Account on NFTs

Snoop Dogg Twitter

Rate this post American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment. Snoop Dog Claims to Be Popular NFT Advocate on Twitter Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs.  The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.   According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll. On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”   Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent  “a cloud of blunt and Snoop-themed NFTs” following the reveal. Is Medici Account an Elaborate Prank? The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement. “I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments. Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed. 

The post Snoop Dogg Reveals His Connection With Twitter Account on NFTs appeared first on Cryptoknowmics-Crypto News and Media Platform.

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American rapper Snoop Dogg tweeted on Monday that he’s the owner of a Twitter account that talks about nonfungible tokens (NFTs). The account, named @CozomoMedici, shares “insights and tales from the wild world of NFTs” and has 27.7K followers at the moment.

Snoop Dog Claims to Be Popular NFT Advocate on Twitter

Snoop Dogg left the crypto community stunned this week after he revealed himself as the owner of a Twitter account dedicated to NFTs. 

The account Cozomo de’ Medici, named after an Italian banker, is only a month old. However, it has already garnered attention from industry watchers and even a mention from crypto-focused news outlet The Block.  

According to The Verge, the person behind the Medici account had been creating hype around their real identity for “at least a few days” and even conducted a poll for their followers to take a guess. The poll featured Democratic congresswoman Alexandria Ocasio-Cortez and Matt Bellamy, the lead singer of the rock band Muse. Snoop, however, was not mentioned in the poll.

On September 20, @CozomoMedici tweeted that they were about to reveal their identity from their account. Shortly after, Snoop Dogg tweeted “I am @CozomoMedici.”

Interestingly, after making this revelation, the Medici account bought two weed-themed collectibles from an artist named NyanDogg, The Verge reported. Additionally, Snoop’s alleged OpenSea account has been sent  “a cloud of blunt and Snoop-themed NFTs” following the reveal.

Is Medici Account an Elaborate Prank?

The Medici account could likely turn out to be an elaborate prank, one that Snoop might have engineered himself or just participated in. Many reactions to Medici’s reveal have also expressed skepticism about Snoop’s involvement.

“I have a hard time accepting that this account is Snoop Dogg. Like seriously Snoop Dogg muted his live stream for a week (?) by accident. And he is that deep into NFTs out here owning crypto punks… Owning Eth using OpenSea. Would love that to be true but I can’t believe it,” Twitter user @Brandolf485 wrote in the comments.

Nonetheless, the crypto community will have to continue looking for concrete proof till Snoop’s involvement with the account is confirmed. 

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Source: https://www.cryptoknowmics.com/news/snoop-dogg-reveals-his-connection-with-twitter-account-on-nfts/

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Blockchain

TA: Ethereum Breaking This Confluence Resistance Could Spark a Recovery

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Ethereum started a major decline below the $3,200 support zone against the US Dollar. ETH price traded as low as $2,807 and it is now attempting a recovery wave.

  • Ethereum started a fresh decline below the $3,300 and $3,200 support levels.
  • The price is now trading below $3,200 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could a steady recovery wave if there is a close above $3,050 in the near term.

Ethereum Price Corrects Losses

Ethereum started a major decline from the $3,500 resistance zone. ETH traded below many important support zones near $3,300 and the 100 hourly simple moving average, similar to bitcoin.

The bears gained strength below the $3,200 support zone. Finally, ether spiked below $3,000 and extended its decline. A low is formed near $2,807 and the price is now correcting losses. There was a break above the $2,920 and $2,950 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. An immediate resistance on the upside is near the $3,020 level. There is also a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

A close above the $3,020 and $3,050 levels could start a decent recovery. The next major resistance might be near the $3,130 level. It is near the 50% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. A clear break and close above the $3,130 level could start a steady increase. The next major resistance sits near $3,300.

More Losses in ETH?

If ethereum fails to correct higher above the $3,020 and $3,050 resistance levels, it could start another decline. An initial support on the downside is near the $2,960 level.

The next major support seems to be forming near the $2,900 level. A downside break below the $2,900 support zone could lead the price towards the $2,800 zone. The next major support is near the $2,750 level, below which ether price might decline towards the $2,640 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is still well below the 50 level.

Major Support Level – $2,960

Major Resistance Level – $3,050

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Source: https://www.newsbtc.com/analysis/eth/ethereum-confluence-resistance-3050/

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