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IOHK announces first cross-chain bridge to Cardano (ADA) from Nervos (CKB)

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Nervos, a China-based public blockchain, and IOHK, a global blockchain engineering company and developers of the Cardano blockchain, today announced a cross-chain ‘bridge’ to connect the Cardano and Nervos networks.

Cardano’s ‘first’ bridge

This is Cardano’s first cross-chain bridge, interconnecting two ecosystems worth billions of dollars. The bridge furthers Nervos and Cardano’s shared goal of finding the blockchain industry’s ‘Bluetooth moment,’ where users have a seamless experience when using blockchain networks, regardless of which chain they are using.

The bridge will allow users to interchangeably transact with Nervos and Cardano’s native currencies (CKB and ADA, respectively) as well as create their own tokens across both blockchains, which is done through a technique called token wrapping.

It will also enable developers from both chains to access services and features to expand their decentralized applications (dApps) and user bases.

With the bridge, developers using the Nervos platform will have access to IOHK’s industry-leading token solution for Cardano, as well as DeFi apps built on top of the ‘Plutus’ smart contract and other features deployed through sidechains and state channels on Cardano.

The bridge also enables users to create assets that enjoy all the operational benefits of Cardano’s native currency, ADA, allowing projects to access the blockchain’s market-leading levels of speed and security, with no prohibitive costs.

Latest collab

This is the latest project in an existing collaboration between Nervos and IOHK. The two public blockchain ecosystems announced in December that they would co-author research papers on improvements to the UTXO model, future open-source developments, and explore the creation of a universal standard for the accounting method.

“We believe that blockchain technology will only achieve mainstream acceptance when end-users are not locked into one blockchain or standard, but can seamlessly access value and utility, regardless of which blockchain they are using. As a result, bridges like this are an absolute necessity in order to ensure that users have a seamless experience,” said Romain Pellerin, CTO at IOHK.

He added, “By connecting our communities and finding innovative new ways to work together, as we have been doing with Nervos, we can ensure that blockchain lives up to its promises of creating a fairer and more efficient global financial operating system.”

Interoperability with Nervos

To enable interoperability within the Nervos network and greater blockchain ecosystem, Nervos has three core components, which together make up the Universal Passport, Nervos’ next-generation interoperability solution.

The components include PW Core, a market-leading SDK that enables developers to build applications that are accessible on all chains; Polyjuice, and Ethereum compatible layer that lets developers seamlessly move smart contracts from Ethereum to Nervos; and Force Bridge, a trustless bridge that allows for seamless cross-chain transactions between Nervos and other chains.

Force Bridge will be used to connect to Cardano, enabling users to perform cross-chain transactions between the networks using their existing wallets.

Mousebelt, a full-service blockchain accelerator, will build the bridge with financial support in the form of a grant from Nervos. The Cardano team will contribute its expertise and resources to connect Cardano to the bridge. Work has commenced and the bridge is expected to be completed in the next six weeks.

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Posted In: Cardano, Technology

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Source: https://cryptoslate.com/iohk-announces-first-cross-chain-bridge-to-cardano-ada-from-nervos-ckb/

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Bitcoin proponent Max Keiser announces the F*ck Elon Tour

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Bitcoin maximalist Max Keiser has announced the F*ck Elon Tour scheduled to take place on July 8 -9 in Austin, Texas.

Earlier this month, Keiser hit the headlines during the Bitcoin Conference in Miami for several reasons. But chief among them was his antics on stage with MicroStrategy CEO Michael Saylor, in which he repeated the words, “we’re not selling,” and “f*ck Elon.”

This was in reaction to the Elon Musk energy-FUD, which many believe was responsible for Bitcoin’s 45% slump from its all-time high of $65,000.

“F*ck Elon” has now become something of a tagline for Bitcoin maximalism. But with tribalism responsible for toxicity in the cryptocurrency space, is the F*ck Elon Tour doing more harm than good?

What’s the F*ck Elon Tour about?

Despite this week’s bloodbath in the markets, as well as continuing uncertainty at the macroeconomic level, in linking tour information, Keiser confidently stated that Bitcoin can reach a new all-time high in the coming weeks.

The F*ck Elon Tour is introduced as a Bitcoin maximalist event that encourages more maximalism for the simple reason that maximalism is what “got us here.”

“We don’t need less toxicity from Bitcoin maximalists. We need MOAR!!! A LOT MOAR!!!! Toxicity and plebs got us here.”

Rather than a discussion of developments and educational content, the Tour is pitched as a party event featuring special guests. But more importantly, for Bitcoiners only with no mention of altcoins allowed, and most of all no Karens.

Ticket prices range from $50, for “Plebs” tier, to $200, for “JIMI” tier. The cheapest tiers, “Plebs,” “Buzzcocks,” and “Casbah” are already sold out.

Bitcoin maximalism accused of cultism

Keiser has always maintained a maximalist approach towards Bitcoin. But his stunts during the Bitcoin Conference have drawn fire on several fronts.

One such incident was an interview with CNBC Africa in which he launched into a tirade on political corruption. Although there is truth in what he said, it was his outburst and overzealous reaction to the questioning that drew condemnation.

“Do you know that with the Bitcoin I have I can buy any frickin senator or congressman I want? I make the laws. He who has the Bitcoin makes the laws Ran. We’re not just going to sit around and let the God damn government tell us what to do…”

However, the f*ck Elon rant is perhaps the most controversial. Social media responses to the video include comments about presenting a poor image, parallels with the cultism of Bitconnect, cringe, and so on.

There’s no doubt that Keiser is a passionate believer in Bitcoin, which shows through during his public engagements.

But at the same time, his showmanship is rubbing people the wrong way, which in turn does little to convince the undecided on the merits of the leading cryptocurrency.

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Source: https://cryptoslate.com/bitcoin-proponent-max-keiser-sets-up-the-fck-elon-tour/

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Billionaire Mark Cuban Says Bitcoin Is ‘Better Than Gold’

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Billionaire investor and entrepreneur Mark Cuban has revealed on social media he believes bitcoin is better than gold as the flagship cryptocurrency is easier to trade, transfer, and convert. Both bitcoin and gold are seen by many as inflation hedges, with some calling bitcoin “gold 2.0.”

In a tweet, Cuban said that bitcoin requires no intermediaries and can be factionalized. He also referenced “William Devane type commercials” that would sell the cryptocurrency as a hedge against inflation.

Devane, who starred in the popular soap opera Knots Landing, has for the past decade been promoting the precious metal for Rosland Capital, telling potential customers that gold is the only currency he trusts.

When TD Ameritrade’s Oliver Renick replied that bitcoin’s “relationship with real interest rates is as random as it was day 1 ten years ago,” implying the cryptocurrency does not work as an inflation hedge, Cuban said he never defended it as such.

Cuban added:

Gold is useless, pretty much across the board, but particularly as a hedge. BTC is a digital asset that is similar to gold because they both are driven exclusively by supply and demand. BTC does a better job with both.

The billionaire investor noted that right now there is more demand for the precious metal than for the flagship cryptocurrency, although he believes this will change as “BTC is easier to transact,” and will in time be “better understood and marketed.”

The gold market, Cuban predicted, will shrink as a result. Cuban, as CryptoGlobe reported, invested last month in Ethereum layer-two scaling solution Polygon (MATIC) but has not disclosed the size of his position on the cryptocurrency. The investment has been disclosed on one of his websites.

Earlier this year, billionaire  investor Jeffrey Gundlach, CEO of DoubleLine Capital, revealed that while he is still a long-term dollar bear and gold bull, and that he sees bitcoin as a better bet after turning neutral on both the U.S. dollar and gold.

DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT
Featured image via Unsplash

Source: https://www.cryptoglobe.com/latest/2021/06/billionaire-mark-cuban-defends-bitcoin-is-better-than-gold/

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Alas, John McAfee, We Hardly Knew Ye

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There’s an old saying in journalism that goes something like: Scoundrels are way more fun to cover than normies. 

Say what you will about John McAfee—and today, when news of his apparent suicide in a Barcelona jail seeped out, people said a lot—the 75 year old was a blast to cover.

From his first entrance onto the national stage in 1992, as the human face of the novel computer virus known as Michelangelo, he generated all the excitement and flimflam of the Music Man. Never mind that the Michelangelo Virus turned out to be a hypefest—McAfee was able to capitalize on it big time. The worldwide hysteria he provoked helped him launch an antivirus software company that, when he sold it a scant few years later, made him $100 million.

The whispers around McAfee in those early days—never proven, of course—were that he worked with labs to create some of those viruses.  That was probably industry jealousy: his software was the very first to catch whatever new, obscure computer bug found its way onto a personal computer. 

“People kept saying I hyped this, I hyped this,” McAfee complained to me in 1992, shortly after the Michelangelo Virus turned out to be fake news. “I never contacted the press—they called me.”

This is John David McAfee, the man who once ran a service that revolved around the curious premise that, if you paid him a membership fee and tested HIV-negative, you could have AIDS-free sex with other members for six months.  This is the man who jumped from biological viruses to computer viruses and quickly became a flamboyant expert on the new demi-plague, showing up at the scene of infected PCs in his Winnebago ‘antivirus paramedic unit.’ “—From a 1992 Newsday story

McAfee thrived in the lawless, wild west of early technology (and anywhere else he could find a wild west.) Crypto—right here in River City!—with its ready market of credulous marks, fellow shillers, and contempt for the law was at once a perfect place for him to prospect, as well as his ultimate undoing. 

And we in the press? He never contacted us. We called him.

McAfee made the best, most colorful copy. He claimed to have been arrested 21 times for tax evasion, SEC violations, drugs and other stuff. He was a suspect in a murder in Belize, though he was never charged, which, I suppose, only added to his outlaw mystique.

A McAfee story was always good for traffic, especially during the dark days of crypto winter. And we never needed to contact him—he lived in social media, especially Twitter, where he fed us and his million followers a daily diary’s worth of updates on his never-ending antics.

In a 2018 profile, New York Magazine dubbed him the spokesman for crypto. 

He famously claimed to have fucked a whale. And an ostrich. (He later backtracked on the whale; and the ostrich isn’t talking.) He bet that Bitcoin would be worth a million dollars by the end of 2020 or he’d eat his own dick. (He later clarified that a squadron of high-class escorts would be doing the presumptive dick-eating on his behalf.) For a while, he produced a series of videos offering recipes of vomitous cocktails he’d concoct. 

He ran for president. He ran away from the law. He seemed to carry an arsenal’s worth of guns on his yacht, and claimed that the CIA was after him. He is said, too, to have experimented with “quantum suicide”—a sort of one man’s Russian roulette, with a bit of Schrödinger’s cat in the mix—and survived. 

After he was arrested for tax evasion last year, he continued to make news via periodic “tweets from jail.” Shortly after his imprisonment in Spain in October, presaging today’s reported suicide, he had an accomplice tweet that reports of his demise were greatly exaggerated. McAfee said: “Know that if I hang myself, a la Epstein, it will be no fault of mine.”

Even on his way to death, he couldn’t help but rabble rouse.

But curiously, his last tweet, which came a week ago, and is pinned to his account, was absent his usual bluster. McAfee sounded defeated.

Then again, if rumors crop up that John David McAfee was just seen in Tahiti or New Guinea or a dive bar in Key West, surrounded by a cadre of lunatics and drinking a cocktail made with real gunpowder, would anyone be surprised? Nah. Without the myth of outlaws, there’d be no wild west. And without the wild west, where would the rest of us be?

Source: https://decrypt.co/74396/alas-john-mcafee-we-hardly-knew-ye

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