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Bitcoin is for billions: Fedimint on scaling BTC in the global south
“Bitcoin is for billions, not billionaires,” a phrase first coined by investment researcher Lyn Alden, could soon become a reality, according to Fedimint. The protocol that aims to scale Bitcoin (BTC) while making it more private, has been buoyed by a $4.2 million seed round for the Fedi application. Cointelegraph spoke to Obi Nwosu, co-founder and CEO of Fedi, about the “incredible group of inspiring people who we are working with to support their activities to increase the freedoms of some of the most oppressed regions of the world,” and why the mobile app Fedi could solve issues related to scaling, custody and privacy. Lyudmyla Kozlovska, head of the Open Dialogue Foundation — which focuses on supporting people in post-soviet Europe — Farida Bemba Nabourema, a Togolese human right...
The BTC origin story: Who designed the Bitcoin logo?
The bright orange Bitcoin (BTC) logo, for over a decade, has become synonymous with financial freedom amid modern-day recession and stringent governmental oversight. However, unlike the mysteries tied to Bitcoin’s origin, the development of the Bitcoin ‘₿’ logo is fairly documented in the depths of the internet. When Bitcoin was introduced 13 years ago by creator Satoshi Nakamoto, the first iteration of the Bitcoin logo represented a gold coin with a “BC” text embedded in the center, as shown below. However, on February 24, 2010, Nakamoto came up with a new Bitcoin logo, which saw the replacement of the “BC” text with “₿” embedded within the gold coin. Satoshi Nakamoto’s second attempt on Bitcoin logo. Source: bitcointalk.org Based on community feedback, Satoshi then incor...
Polygon and others extend helping hand to Terra blockchain projects
Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under a lot of pressure, may be able to save their communities and projects by migrating to other networks. In a move that is expected to benefit both the Polygon (MATIC) community and Terra projects, Polygon Studios’ CEO Ryan Wyatt tweeted on Monday that Polygon is working with a number of Terra projects to assist them migrating to the Polygon Network. The Polygon community, according to Wyatt, “is ready to welcome the developers and communities of these Terra projects.” He also stated that Polygon would provide the capital and resources needed to assist them in their migration. Polygon founder Sandeep Nailwal added his two cents ...
Inside the blockchain developers’ mind: Building truly free-to-use DApps
Cointelegraph is following the development of an entirely new blockchain from inception to mainnet and beyond through its series, Inside the Blockchain Developer’s Mind, written by Andrew Levine of Koinos Group. In myprevious article, I explained from first principles what was needed to build a truly free-to-use social decentralized application (DApp) and how Koinos is that solution. In that article, I explained that to deliver a truly free-to-use DApp, it must be possible for someone other than the end-user to provide the network resources (“mana” in the case of Koinos) required to run a given smart contract. Blockchain mana Now that we understand why Koinos is designed the way it is (to support free-to-use experiences), I’m going to explain in more detail how this works. One of the innov...
Seven times Bitcoin miners made the world a better place
What do a swimming pool, beef jerky, a caravan, timber, animal waste, a Guatemalan lake and a high school have in common? They’ve all been saved by Bitcoin (BTC) mining. From reusing “waste” heat to getting the job done — to receiving a cool blast of air to dehydrate meat, to cleaning up pollutants, Bitcoin mining does more than just secure the network. Here’s a round-up of seven times Bitcoin mining lent a hand or simply made the world a better place. Free Bitcoin mining education in Washington Sustainable Bitcoin mining company Merkle Standard has taken Bitcoin mining education into its own hands. In partnership with Bitmain, they recently gifted the latest in Bitcoin mining technology to Newport High School, a high school in Washington state. Plus, they donated $10,000...
Vitalik Buterin is worried about Ethereum — Here’s how the community responded
Ethereum co-founder Vitalik Buterin expressed his concerns about the blockchain’s future in a recent interview, and attendees of the recent ETHDubai event voiced mixed sentiments toward his perspective on crypto’s perils. In an interview with Time magazine, Buterin pointed out some of his worries regarding the network, including it being populated by players who are only after profit and deviate from the original vision of an egalitarian platform. “If we don’t exercise our voice, the only things that get built are the things that are immediately profitable,” he said. The recent ETHDubai event at Le Meridien Dubai. Commenting on Buterin’s woes, Sergej Kunz, co-founder of 1inch Network, expressed that he disagrees highly with the Ethereum co-founder. Kunz said that while there are ...
Just 2 million Bitcoin left to mine: Bitcoin hits the 19 million milestone
The 19th millionth Bitcoin (BTC) was mined on Friday, a landmark occasion for the number one cryptocurrency. Nineteen million Bitcoin are now in circulation, with just 2 million Bitcoin yet to be minted (or mined) until roughly the year 2140. In block 730002, mined by SBI Crypto, the 19 millionth Bitcoin entered circulation. SBI Crypto earned 6.32 BTC, roughly $293,000 for the trouble in transaction fees and block reward. A momentous occasion, the Bitcoin community was quick to celebrate the milestone event. The 19,000,000th bitcoin was just mined. Only 2 million more bitcoin to go. — Pomp (@APompliano) April 1, 2022 The CEO of possibly one of the world’s most ESGfriendly Bitcoin miners, Kjetil Hove Pettersen of Kryptovault, told Cointelegraph “we have only two...
‘Satoshi Island’ crypto utopia receives 50K citizenship NFT applications
Step aside, El Salvador, there’s a new Bitcoin-centric destination on the map. As a 32-million-square-foot private island sanctuary in the remote South Pacific, Satoshi Island is a “place for the crypto community to call home.” A combination of honeymoon getaway, Bond-villain hideout and naturalist paradise, there’s one enigmatic exception to Satoshi Island: it’s 100% crypto. Talking to Cointelegraph, the Satoshi Island team of Denys Troyak, James Law, Taras Filatov and Benjamin Nero mentioned that it is: “A true crypto-economy where everything will be paid for in crypto and all ownership on the island is represented with NFTs.” With its name inspired by the creator of Bitcoin (BTC), Satoshi Nakamoto, the team added that “the island intends to host events all year round, house and headquar...
SushiSwap community proposes Swiss legal structure to limit DAO liability
SushiSwap (SUSHI), a community-led suite of decentralized finance (DeFi) tools, plans to implement a legal structure aimed at mitigating risks for token holders and members of the Sushi protocol. Sushi’s new legal structure will be based on a community-approved proposal from Mar. 20 that cited the need for an association or foundation to help provide legal clarity and administrative support for SushiDAO. Proposal: Sushi Legal Structure To form an association or a foundation for Sushi DAO in order to provide clarity regarding the rights and obligations of token holders and contributors and limit their liability and mitigate the future risk.$SUSHI https://t.co/SHpKcpvjqP — veRSK (@KartelCrypto) March 20, 2022 According to the proposer and a member of the SushiSwap community, Tangle, th...
NFT collections brought to life at SXSW: Doodles and FLUF World
Cointelegraph journalists at South by Southwest, or SXSW, in Austin, Texas reported that NFTs were everywhere this year, marking a new phenomenon for what began as a music festival in 1987. Since evolving into a film, tech and general culture gathering, and after a two-year hiatus, SXSW added blockchain programming to the mix with crypto-related panels, blockchain company sponsors and NFT community interactive experiences. Two NFT communities with the largest physical presences at SXSW were Doodles and FLUF World who ran immersive, multi-day and multi-sensory experiences. They built physical installations at which attendees would wait in long lines to enter and interact with these virtual communities in real life. Cointelegraph got to the bottom of how these digital co...
The DAO is a major concept for 2022 and will disrupt many industries
The blockchain and cryptocurrency rave is not ending anytime soon. And as more people are being introduced to revolutionary technologies in the digital space, new improvements upon these technologies are also being introduced. In the last couple of years, the DeFi and NFT industries have experienced immense levels of growth and, currently, metaverses and Web3 are the technologies making the digital space light up. It is not yet clear where these disruptive technologies will lead us, but we are sure that there will be much value up for grabs. At the convergence of Web3 and NFTs lie many platforms looking to leverage technology and infrastructure to make the NFT ecosystem more decentralized, structured and community-driven. Using both social building and governance, the decentralized a...
Why decentralization isn’t the ultimate goal of Web3
The transition from Web2 to Web3 is inevitable. Yet, as the demand for decentralization gains momentum, several important questions are being raised about the current state of blockchain technology and its promised “decentralization.” Vitalik Buterin responded with a confession that “a lot of it comes down to limited technical resources and funding. It’s easier to build things the lazy centralized way, and it takes serious effort to ‘do it right.’” Or, Jack Dorsey’s recent tweet where he claimed that it’s actually the venture capitalists who own the networks that exist today. You don’t own “web3.” The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label. Know what you’re getting into… — jack⚡️ (@jack) Decembe...
