Author: Cynthia Nwanonyiri

To create a token to decentralize the business ecosystem, raise capital, and enter the cryptocurrency space, current, existing real-world enterprises employ a reverse initial coin offering (ICO). These businesses serve customers in the actual world and offer already-available goods and services. In essence, a reverse coin functions like an initial public offering (IPO), enabling an established business to introduce cryptocurrency tokens and raise money from the public. A reverse coin is referred to as the issuing and selling of a crypto token by a pre-existing organization. Reverse Coin can be utilized to fund the business, to promote decentralization through the…

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Web3 startup Fleek has recently secured a $25 million investment round headed by Polychain Capital. Coinbase Ventures, Digital Currency Group, Protocol Labs, Arweave, North Island Ventures, Distributed Global, The LAO, and Argonautic Ventures were also participants in the Series A investment. The business is developing a foundation layer protocol that will make web3 services like storage, hosting, and billing available to everyone. With its interface protocol layer, Fleek hopes to fill a need in the web3 infrastructure stack’s environment. The co-founder of Fleek, Harrison Hines, claimed that the startup’s initial focus is on the market for content distribution. Currently, Fleek…

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To demonstrate their openness and calm uneasy users, many crypto exchanges have reportedly adopted the use of proof-of-reserve (PoR). However, according to crypto expert Martin Hiesboeck, these so-called proofs are prone to manipulation or distortion. PoRs do not “account for liabilities and off-chain assets at all,” he continued, therefore they are an insufficient way to confirm an exchange’s reserves. Confidence in centralized exchanges declined after FTX’s demise in November, and several users hastened to remove their funds from such platforms. As a result, cryptocurrency exchanges rushed to provide or publish their proof-of-reserves (PoR). PoR Merkle trees are thought to have…

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Sam Bankman-Fried is frequently covered in the news. You’ll hear and read about him all the time, but seldom from him. Nevertheless, renowned journalist Tiffany Fong had the opportunity to speak with him. Although the interview was brief, it covered everything you needed to know about Sam Bankman-Fried, FTX, Alameda, and other pertinent information. SBF discussed bankruptcy, the purported “backdoor,” donations to the Democratic Party, reports of money laundering in Ukraine, the hack, Alameda’s margin position on FTX, utilizing FTT as collateral, and more in an audio interview, Tiffany Fong tweeted. Let’s examine their dialogue in more detail. A look…

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In a few days, on or around December 5, 2022, bitcoin miners might get a break because the upcoming complexity retarget is anticipated to see a sizable reduction. The estimated range for the subsequent difficulty retarget is between 6.13% and 10% lower. Bitcoin mining difficulty change currently appears to be on pace to surpass the 5.01% fall registered on July 21 and become the biggest decline of 2022. The last time Bitcoin’s difficulty changed was on November 20, 2022, at a block height of 764,064, and it only went up by 0.51% on that day. The network’s hardness did, nevertheless,…

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Ejara, a Cameroonian crypto and savings company, has acquired $8 million in Series A funding for its investment software that enables users to purchase cryptocurrency and save money via decentralized wallets. The expansion round was co-led by the London-based venture capital firm Anthemis and the cryptocurrency-specific fund Dragonfly Capital. Anthemis, who also headed the fintech’s $2 million seed round disclosed last October, is an additional investor in Ejara. Other follow-on investors Mercy Corps Ventures, Coinshares Ventures, and Lateral Capital, as well as new investors Circle Ventures, Moonstake, Emurgo, Hashkey Group, and BPI France, are among the VC companies taking part…

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Sam Bankman-Fried (SBF), the former CEO of FTX, tweeted on November 23 that he intended to speak with Andrew Ross Sorkin at the annual New York Times Dealbook Summit on November 30. The former FTX CEO may present in person or virtually, according to the reaction to SBF’s tweet, which attracted a lot of attention. After SBF revealed he will be talking alongside Andrew Ross Sorkin at this year’s Dealbook Summit, there was no shortage of criticism. One person sarcastically tweeted on that day that if Sam Bankman-Fried (SBF) intended to attend this year’s Dealbook Summit, he would “certainly [be]…

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According to a Techcrunch report, the bankrupt cryptocurrency exchange FTX was processing billions of dollars in Africa each month and planned to open an office there to expand its operations there. The study claims that FTX saw Africa as a region of priority and that the purpose of its commercial operations there was more than just to boost overall volume. Chipper Cash, Nestcoin, Jambo, Mara, and AZA Finance are just a few of the fintech and/or cryptocurrency firms with which FTX has recently partnered or invested. In November 2021, the exchange led Chipper’s $150 million series C expansion, its first…

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Crypto phones are blockchain-focused devices with all the characteristics of a typical smartphone plus a backing for cryptocurrencies, the metaverse, and decentralized applications (DApps). A crypto phone can be used to mine cryptocurrency, manage blockchain network nodes, partake in the metaverse, and securely store private keys. Numerous features on cryptocurrency phones make it simpler for consumers to store and spend their coins. This invention aims to overcome the accessibility barrier between web3 and the public. The majority of people nearly never leave their smartphones behind and carry them everywhere they go. It has become commonplace to carry a little computer…

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The co-founder of Ethereum offered his thoughts on the FTX collapse, saying that we shouldn’t entirely place the blame for this catastrophe on the crypto industry. The co-founder of Ethereum, the second-largest cryptocurrency project, is Vitalik Buterin. In addition to developing crypto code, he is well-known in the cryptocurrency community. He is constantly prepared to speak on any critical or crucial issues that pertain to the industry as a responsible crypto leader. On November 20, Vitalik Buterin expressed his personal viewpoint on the failure of FTX and its sibling organizations. He stated that cryptocurrency and blockchain technology shouldn’t be blamed…

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