Blockchain
Crypto fans count down to bitcoin’s ‘halving’
Bitcoin enthusiasts eagerly anticipated the occurrence of bitcoin’s ‘halving’ on Friday, a pivotal event in the cryptocurrency’s protocol aimed at reducing the rate of new bitcoin creation. Programmed into Bitcoin’s code by its pseudonymous creator Satoshi Nakamoto at its inception, the halving occurs approximately every four years.
Chris Gannatti, Global Head of Research at asset manager WisdomTree, which offers bitcoin exchange-traded funds, described the halving as “one of the biggest events in crypto this year.” CoinGecko’s countdown clock indicated that the halving was slated to take place in the early hours of Saturday GMT.
For many cryptocurrency enthusiasts, the halving underscores bitcoin’s value as an increasingly scarce asset, as Nakamoto set a limit of 21 million tokens. Conversely, skeptics view it merely as a technical adjustment hyped by speculators to inflate the virtual currency’s price.
The mechanics of the halving involve reducing the rewards miners receive for creating new tokens, thereby increasing the cost of introducing new bitcoins into circulation. This comes following bitcoin’s surge to an all-time high of $73,803.25 in March, with the cryptocurrency trading at $63,800 on Thursday.
Bitcoin and other cryptocurrencies have benefited from excitement surrounding the U.S. Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds in January, as well as anticipation of central bank interest rate cuts. Previous halvings occurred in 2012, 2016, and 2020, with some cryptocurrency enthusiasts pointing to subsequent price rallies as indicative of potential price increases post-halving. However, many analysts remain skeptical.
“We do not anticipate bitcoin price increases post halving as it has already been priced in,” wrote JP Morgan analysts this week. They predict a decline in bitcoin’s price post-halving due to being “overbought,” coupled with subdued venture capital funding for the crypto industry this year.
Source: reuters.com
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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