Posted on 27. February 2023 in Allgemein
• The Litecoin Foundation has partnered with Digital Asset Manager Metalpha to develop hedging products for LTC miners.
• These products are intended to hedge risk, lower carbon emissions and enable renewable energy use in the mining process.
• Metalpha will also be developing financial derivative products for LTC tokens that can help support crypto miners with hedging against market risk.
The Litecoin Foundation has announced a partnership with Digital Asset Manager Metalpha to develop hedging products for miners of the cryptocurrency Litecoin (LTC). This collaboration is meant to improve the sustainability of mining operations on the Litecoin blockchain and mitigate risk factors associated with price volatility.
The partnership aims to jointly develop the Litecoin ecosystem by creating hedging products, facilitating renewable energy use, increasing energy efficiency, and lowering carbon emissions from mining activities on the network. Specifically, Metalpha will work towards developing financial derivative products for LTC tokens in order to provide miners with more secure options for offsetting losses due to market volatility.
In addition, both partners plan on working together with research institutions and universities in order to further sustainable blockchain innovation and public education around the Litecoin network. This will help ensure that miners are better equipped to make informed decisions when it comes to their investments, as well as provide them with more reliable solutions for preserving value even during bearish markets.
Crypto mining is a resource-intensive activity that requires powerful computers in order process and validate transactions on proof-of-work blockchains like Bitcoin or Litecoin. Miners who successfully complete these tasks receive rewards in terms of tokens which they can then sell on open markets in order to cover operational costs and turn profits; however, if prices drop too low they may no longer be able generate enough income from their investments – making hedging an important tool for mitigating such risks.
Overall, this partnership between the Litecoin Foundation and Metalpha marks an important step forward towards increased sustainability within cryptocurrency mining operations through improved risk management strategies and reduced environmental impacts. By providing miners with more secure options for protecting their investments against price volatility, this partnership could potentially pave way for future growth within the industry as a whole.
Posted on 20. February 2023 in Allgemein
• Japan will launch a pilot program in April to test the use of its version of a central bank digital currency (CBDC) known as the digital yen.
• The aim of the pilot is to test the technical feasibility and utilize private businesses’ technology and operation for designing a CBDC ecosystem.
• The move comes after more than two years of proof-of-concept experiments by the BoJ around the digital yen, even as China’s digital yuan continues to lead the CBDC race globally.
The Bank of Japan (BoJ) announced on Friday that it will be launching a pilot program in April to test out their version of a central bank digital currency (CBDC), known as the digital yen.
The aim of this program is twofold: first, to test out its technical feasibility, and second, to incorporate private business’ technology and operations into designing an effective CBDC ecosystem should this project become socially implemented.
This move from Japan follows more than two years worth of experimentation with the digital yen, while China’s own version, called the digital yuan, has been leading much of global development when it comes to CBDCs. Currently over 105 countries representing over 95% of global GDP are on board with developing their own versions.
In addition to this news coming out today, there is also set to be leadership transition at BoJ come April when Kazuo Ueda takes over from Haruhiko Kuroda at his five year term ends.
Posted on 12. February 2023 in Allgemein
• The EU’s Markets in Crypto Assets (MiCA) regulation is ambitious and sets a high standard globally, but Article 68 poses a risk to innovation, privacy, and security.
• Article 68 could limit the growth and innovation of the blockchain industry by requiring crypto asset holders and transaction histories to be identified by authorized service providers.
• A more flexible approach is needed that allows for continued growth and innovation while still protecting stakeholders’ privacy and security.
The European Union recently passed an ambitious comprehensive crypto regulation known as Markets in Crypto Assets (MiCA). Although this regulation sets a high global standard, it contains language within Article 68 that threatens innovation, privacy, and security.
Article 68 of MiCA requires trading platforms for crypto assets to prevent trading with built-in anonymization unless holders of the assets and their transaction history can be identified by authorized crypto-asset service providers. This language could have a detrimental impact on the growth and innovation of the blockchain industry, as well as on the privacy and security of individuals, businesses, communities, and nations.
Regulators must understand that the blockchain industry is still in its early stages of development. Therefore, a one-size-fits-all regulatory approach may not be suitable for this sector. Instead, it is necessary to adopt a more flexible approach which allows for continued growth while also ensuring compliance with regulatory requirements and protecting stakeholders’ privacy & security.
It is vital that regulators take into account both sides when formulating regulations in order to ensure sustainable growth of the blockchain industry while still preserving personal data safety & confidentiality.
Regulators should consider adopting a more flexible approach when developing regulations related to blockchain technology in order to protect stakeholders’ interests while allowing for innovative ideas & technologies to flourish within the space.
Posted on 5. February 2023 in Allgemein
• Bittrex, a Seattle-based cryptocurrency exchange, has announced that it is laying off more than 80 people due to the “new economic environment”.
• This comes after other crypto exchanges such as Gemini and Coinbase have also recently announced layoffs due to market downturns.
• CoinDesk estimates that since April 2020, more than 29,000 jobs have been lost across the crypto industry.
Seattle-based cryptocurrency exchange Bittrex is reducing its staff by more than 80 people, the company confirmed Thursday, citing market conditions.
In a leaked email on Twitter, Bittrex CEO Richie Lai told employees the team had been working “aggressively” to reduce expenses and increase efficiencies, but were not successful.
“The market downturn triggered by multiple failures in the crypto ecosystem became an outright collapse by the end of the year,” he wrote. “These events have caused us to reset our strategy and balance our investments with the new economic environment in which we find ourselves.”
The reductions affected at least some employees in most departments across Bittrex, a spokesperson told CoinDesk.
Bittrex is one of many crypto exchanges that announced layoffs in the wake of sharp declines in cryptocurrency prices and the collapse of the FTX exchange and other prominent crypto firms. In January, U.S.-based exchange Gemini announced a third round of layoffs, while Coinbase said it would cut 20% of its workforce.
CoinDesk estimates that since April more than 29,000 jobs have been lost across the crypto industry, based on media reports and press releases.