Author: Precious Udeorah

A group of cryptocurrency companies has teamed up to launch a new multi-chain scam reporting tool, Chinabuse. The launch was announced by RM Labs, Solana Foundation, Circle, Hedera, the Aave Companies, Binance.us, and Civic recently. According to the statement, the platform, which is run by blockchain intelligence startup TRM Labs, “empowers anyone in the crypto economy to notify others about hacks, scams or other fraudulent activities as they experience it.” “The free tool allows crypto users, financial crime victims, and crypto businesses to actively participate in ensuring the crypto ecosystem become a safer place to trade.” Users can now submit…

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The consequences of living an aspect of life in the metaverse are being considered by major forums and institutions around the world. The World Economic Forum (WEF), which describes itself as an “international institution for public-private partnership,” is concerned about the safety of young people in the metaverse. Mark Read, CEO of WPP, describes the expansion of this sector and why creating a secure metaverse is a priority in an article produced as part of the forum’s Davos 2022 summit. Although the metaverse is being pushed as an alternate universe for everyone, the article states that due to its characteristics,…

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The potential of blockchain to keep ownership records and resist tampering can be utilized to address pressing concerns in the present food system, such as food fraud, safety recalls supply chain inefficiency, and food traceability. In this article, we’ll look at how blockchain could help the food supply ecosystem by addressing these challenges. Food Traceability Food traceability has always been at the forefront of contemporary food safety debates, especially as blockchain technology advances Since perishables are perishable, the food sector as a whole is very likely to make a mistake that could lead to human deaths. When foodborne diseases threaten…

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A blockchain wallet is a virtual wallet that stores and manages Ether, Bitcoin and other cryptocurrencies. The wallet service supplied by Blockchain, a software business developed by Peter Smith and Nicolas Cary, is also known as Blockchain Wallet. It lets users send and receive cryptocurrencies, as well as exchange them back into their home currency. Individuals can use e-wallets to hold bitcoins and other virtual currencies. Users of Blockchain Wallet can track their cryptocurrency balances, including widely-known Bitcoin and Ether, as well as Tether, stellar and Paxos Standard. Acquiring an e-wallet with Blockchain Wallet is completely free, and the account…

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As venture capital firms increase their interest in the area, concerns about a lack of talent to handle the aims of firms expanding in crypto and web3 are mounting. According to a survey by Keychain Ventures and Cointelegraph Research, $14.6 billion was invested in the blockchain business in Q1 2022, maintaining a pattern that has seen total capital invested in this space climb each quarter since the start of 2021. Furthermore, the survey found that the average dollar worth of each sale has climbed in the last three months, presently standing at roughly $32.3 million. Individual deals increased as well,…

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NFTBooks (NFTBS) is an initiative that promotes NFTs for books, periodicals, essays, and e-books, among other things. The idea promises to be a marketing tool for authors, allowing them to sell their works and receive passive income, which means the author will profit every time someone reads it. The NFTBooks (NFTBS) platform also aims to enable consumers to read books for a fraction of the price. NFTBooks promises to enhance book popularity while also reducing paper waste in the publishing industry. The creators of NFTBooks explain in their official white paper that while a person can view hundreds of movies…

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Ethereum 2 (ETH2) is a network upgrade that attempts to increase the security and scalability of the Ethereum network. Ethereum’s mining mechanism (“Proof-of-Work”) is being replaced with a staking approach (“Proof-of-Stake”). ETH2 denotes ETH that has been staked. Users earn incentives when they stake ETH with Coinbase as the platform converts ETH to ETH2. Both coins will combine as one token following the upgrade on Ethereum’s network. On a Proof-of-Stake blockchain, staking is the act or process of partaking in purchasing guidelines (similar to mining). Anyone with an adequate coin balance can confirm transactions and gain staking rewards on these…

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After years of trying to build their own stablecoin and progress down the line, Meta has now opted to join Bitcoin and the Lightning Network. Meta has also recently created LightSpark, a new firm backed by Coatue, Andreessen Horowitz (a16z), Paradigm, and Matrix Partners. LightSpark is said to be working on a backend infrastructure for businesses interested in leveraging Bitcoin’s lightning network, which will enable features such as lower rates through payment options for smaller transactions like coffee purchases. Lightning was also established with the goal of offloading some data analysis from the Bitcoin blockchain, which already has limited capacity.…

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As the news cycle has been increasingly focused on NFTs, some may be asking how they connect with intellectual property law. It can be put this way, an NFT client does not obtain IP rights to the item underlying the NFT, but most NFT platforms include terms of service that offer NFT buyers non-exclusive and non-transferable permission to use, copy, and exhibit the creative work related to the NFT for personal use. Non-fungible token (NFT) is a term that refers to a public digital record that is kept on a blockchain. A blockchain is a distributed ledger that records digital…

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Nigeria’s Securities and Exchange Commission (SEC) has announced new guidelines for Digital Assets as a component of its drive to supervise digital/virtual assets such as NFTs and Bitcoins. This is another landmark in the history of Africa. This is stated in a newly published document titled “New Rules on Offering Platforms, Issuance, and Custody of Digital Assets,” which effectively legalizes cryptocurrencies in Nigeria. The guidelines are applicable to any platforms that: Support virtual asset trade, exchange, and transfer Foreign and non-residential issuers and sponsors can issue and sponsor virtual/digital assets Any company that actively seeks for Nigerian investment To begin,…

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