The year is 2027. Its a time of great innovation and technological advancement, but also a time of chaos. What will the crypto market look like in 2027? (For those unfamiliar, that's alinefrom the 2011 video game,Deus Ex.)

Long-term predictions are notoriously difficult to make, but they are good thought experiments. One year is too short a period for fundamental changes, but five years is just enough for everything to change.

Here are the most unexpected and outrageous events that could happen over the next five years.

Themetaverse is a hot topic, but most people do not have even the slightest idea of what it actually comprises. The metaverse is a holistic virtual world that exists on an ongoing basis (without pauses or resets), works in real-time, accommodates any number of users, has its own economy, is created by the participants themselves, and is characterized by unprecedented interoperability. A variety of applications could (in theory) be integrated into the metaverse, including games, video-conferencing applications, services for issuing drivers licenses anything.

This definition makes it clear the metaverse is not such a novel phenomenon. Games and social networks that include most of the features stated above have been around for quite some time. Granted, interoperability is a problem that needs to be addressed seriously. It would have been a very useful feature to be able to easily transfer digital assets between games or a digital identity without being tethered to a specific platform.

But the metaverse will never be able to cater to every need. There is no reason to include some services in the metaverse at all. Some services will remain isolated due to the unwillingness of their operators to surrender control over them.

And there is also the technical aspect to take into account. The cyberpunk culture of the 1980s and 90s postulated that the metaverse meant total immersion. Such immersion is now conceived as possible only with the use of virtual reality glasses. VR hardware is getting better every year, but its not what we expected. VR remains a niche phenomenon even among hardcore gamers. The vast majority of ordinary people will never put on such glasses for the sake of calling their grandmother or selling some crypto on an exchange.

True immersion requires a technological breakthrough like smart contact lenses or Neuralink. It is highly unlikely those technologies will be widely used five years from now.

An active decentralized finance (DeFi) user is forced to deal with dozens of protocols these days. Wallets, interfaces, exchanges, bridges, loan protocols there are hundreds of them, and they are growing daily. Having to live with such an array of technologies is inconvenient even for advanced users. As for the prospects of mass adoption, such a state of affairs is all the more unacceptable.

For the ordinary user, it is ideal when a maximum number of services can be accessed through a limited number of universal applications. The optimal choice is when they are integrated right into their wallet. Storing, exchanging, transferring to other networks, staking why bother visiting dozens of different sites for accessing such services if all the necessary operations can be carried out using a single interface?

Users dont care which exchange or bridge they use. They are only concerned about security, speed and low fees. A significant number of DeFi protocols will eventually turn into back-ends that cater to popular wallets and interfaces.

Money has three main roles acting as a means of payment, as a store of value and as a unit of account. Many cryptocurrencies, primarily stablecoins, are used as a means of payment. Bitcoin (BTC) and to a much lesser extent Ether (ETH) are used as stores of value among cryptocurrencies. But the United States dollar remains the main unit of account in the world. Everything is valued in dollars, including Bitcoin.

The real victory for sound money will be heralded when cryptocurrencies take over the role of a unit of account. Bitcoin is currently the main candidate for this role. Such a victory will signify a major mental shift.

What needs to happen in the next five years to make this a possibility?

A sharp drop in the confidence vested in the U.S. dollar and euro is a prerequisite for cryptocurrencies to take on the role of a basic unit of account. Western authorities have already done a lot to undermine said confidence by printing trillions of dollars in fiat money, allowing abnormally high inflation to spiral, freezing hundreds of billions of a sovereign countrys reserves, and so on. This may be just the beginning.

What if actual inflation becomes much worse than projected? What if the economic crisis is protracted? What if a new epidemic breaks out? What if the conflict in Ukraine spills into neighboring countries? All of these are feasible scenarios. Some are extreme, of course but they are possible.

There is a high probability that the list of top cryptocurrencies will radically change. Outright zombies such as Ethereum Classic (ETC) will be ousted from the list, and projects that now seem to hold unshakable positions will not only be de-throned but may also vanish altogether.

RELATED: 6 Questions for Lisa Fridman of Quadrata

Some stablecoins will surely sink. New ones will take their place. Cardano (ADA) will slide down the list to officially become a living corpse. The project is moving agonizingly slowly. Developers not only fail to see this as problematic but even seem to view it as a benefit.

Cryptocurrencies are global by default, but they are not invulnerable to the influence of individual states. The state always has an edge and an extra trick up its sleeve. A number of territories (the U.S., the European Union, China, India, Russia, etc.) have already introduced or are threatening to introduce strict regulation of cryptocurrencies.

The factor of international competition is superimposed onto internal state motivations. When Russia was heavily sanctioned, some crypto projects started restricting Russian users from accessing their services or even blocking their funds. This scenario may play out again in the future with respect to China.

RELATED:Is there a way for the crypto sector to avoid Bitcoins halving-related bear markets?

It is not difficult to imagine a future in which parts of the crypto market will work in favor of some countries while closing to others. We are living in such a future already, at least to some degree.

The opinions expressed are the authors alone and do not necessarily reflect the views of Cointelegraph. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice.

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What will cryptocurrency market look like in 2027? Here are 5 predictions - Cointelegraph

Mining the Worlds Second-most-valuable Cryptocurrency at Evobits I.T SRL An engineer inspects Sapphire Technology Ltd. AMD graphics processing units (GPU) at the Evobits crypto farm in Cluj-Napoca, Romania, on Wednesday, Jan. 22, 2021. The worlds second-most-valuable cryptocurrency, Ethereum, rallied 75% this year, outpacing its larger rival Bitcoin. Photographer: Akos Stiller/Bloomberg via Getty Images

Photographer: Akos Stiller/Bloomberg via Getty Images

Crypto investors have been hit hard this year by hacks and scams. One reason is that cybercriminals have found a particularly useful avenue to reach them: bridges.

Blockchain bridges, which tenuously connect networks to enable the fast swaps of tokens, are gaining popularity as a way for crypto users to transact. But in using them, crypto enthusiasts are bypassing a centralized exchange and using a system that's largely unprotected.

A total of around $1.4 billion has been lost to breacheson these cross-chain bridges since the start of the year, according to figures from blockchain analytics firm Chainalysis. The biggest single event was the record $615 million haul snatched from Ronin, a bridge supporting the popular nonfungible token game Axie Infinity, which lets users earn money as they play.

There was also the $320 million stolen from Wormhole, a crypto bridge backed by Wall Street high-frequency trading firm Jump Trading. In June, Harmony's Horizon bridge suffered a $100 million attack. And last week, almost $200 million was seized by hackers in a breach targeting Nomad.

"Blockchain bridges have become the low-hanging fruit for cyber-criminals, with billions of dollars worth of crypto assets locked within them," said Tom Robinson, co-founder and chief scientist at blockchain analytics firm Elliptic, in an interview. "These bridges have been breached by hackers in a variety of ways, suggesting that their level of security has not kept pace with the value of assets that they hold."

The bridge exploits are occurring at a striking rate, considering it's such a new phenomenon. According to Chainalysis data, the amount stolen in bridge heists accounts for 69% of funds stolen in crypto-related hacks so far in 2022.

A bridge is a piece of software that allows someone to send tokens out of one blockchain network and receive them on a separate chain. Blockchains are the distributed ledger systems that underpin various cryptocurrencies.

When swapping a token from one chain onto another as in sending some ether from ethereum to the solana network an investor deposits the tokens into a smart contract, a piece of code on the blockchain that enables agreements to execute automatically without human intervention.

That crypto then gets "minted" on a new blockchain in the form of a so-called wrapped token, which represents a claim on the original ether coins. The token can then be traded on a new network. That can be useful for investors using ethereum, which has become notorious for sudden spikes in fees and longer wait times when the network is busy.

"They usually hold tremendous amounts of money," said Adrian Hetman, tech lead at crypto security firm Immunefi. "Those amounts of money, and how much traffic goes through bridges, are a very enticing point of attack."

The vulnerability of bridges can be traced in part to sloppy engineering.

The hack on Harmony's Horizon bridge, for example, was possible because of the limited number of validators that were required for approving transactions. Hackers only needed to compromise two out of a total of five accounts to obtain the passwords necessary for withdrawing funds.

A similar situation occurred with Ronin. Hackers only needed to convince five out of nine validators on the network to hand over their private keys to gain access to crypto locked inside the system.

In Nomad's case, the bridge was much simpler for hackers to manipulate. Attackers were able to enter any value into the system and then withdraw funds, even if there weren't enough assets deposited in the bridge. They didn't need any programming skills, and their exploits led copycats to pile in, leading to the eighth-largest crypto theft of all time, according to Elliptic.

Nomad is offering hackers a bounty of up to 10% to retrieve user funds and says it will abstain from pursuing legal action against any hackers who return 90% of the assets they took.

Nomad told CNBC it's "committed to keeping its community updated as it learns more" and "appreciates all those who acted quickly to protect funds."

Bridges are an essential tool in the decentralized finance (DeFi) industry, which is crypto's alternative to the banking system.

With DeFi, instead of centralized players calling the shots, the exchanges of money are managed by a programmable piece of code called a smart contract. This contract is written on a public blockchain, such asethereumorsolana, and it executes when certain conditions are met, negating the need for a central intermediary.

"We cannot simply move those assets," Hetman said. "That's why we need blockchain bridges."

As the DeFi space continues to evolve, developers will need to make blockchains interoperable to ensure that assets and data can flow smoothly between networks.

"Without them, assets are locked on native chains," said Auston Bunsen, co-founder of QuikNode, which provides blockchain infrastructure to developers and companies.

But they're risky.

"They're effectively ungoverned," said David Carlisle, head of regulatory affairs at Elliptic. They're "very vulnerable to hacks, or to being used in crimes like money laundering."

Criminals have transferred at least $540 million worth of ill-gotten gains through a bridge called RenBridge since 2020, according to new research that Elliptic provided to CNBC.

"One major question is whether bridges will become subject to regulation, since they act a lot like crypto exchanges, which are already regulated," Carlisle said.

This week the U.S. Treasury Department's Office ofForeign Assets Control, or OFAC, announced sanctions against Tornado Cash, a popular cryptocurrency mixer, banning Americans from using the service. Mixers are tools that blend a user's tokens with a pool of other funds to conceal the identities of individuals and entities involved.

Carlisle said it's becoming evident that "U.S. regulators are prepared to go after DeFi services that facilitate illicit activity."

WATCH: Adrian Hetman of Immunefi explains how hackers stole $200 million

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Hackers have stolen $1.4 billion this year using crypto bridges. Heres why it's happening - CNBC

The highly anticipated virtual summit will focus on everything cryptocurrency, including how merchants can safely accept crypto, the current state of anonymity, tools for successful crypto processing, and much more.

SEATTLE, Aug. 11, 2022 /PRNewswire/ -- The Merchant Risk Council (MRC) is hosting a virtual summit focused on the past, present, and future of crypto as related to global eCommerce payment acceptance and fraud mitigation.

The online Crypto Summit, hosted on 13 September 2022 and sponsored by Sift, promises industry-leading speakers examining how modern eCommerce is being shaped by the rapid expansion of this alternative payment method.

"Obviously cryptocurrency is a hot topic right now," said Julie Fergerson, CEO of the Merchant Risk Council. "But we wanted to go beyond the common talking points like volatility and crypto as a speculation vehicle and instead focus on its very real potential as a payment option. With this summit, we're hoping to help merchants learn how to implement and accept digital currencies. We want to examine the opportunities crypto offers, as well as obstacles that still need to be overcome."

The event will cover a wide variety of topics, with presentations from industry leaders like Google, Microsoft, Checkout.com, and more, and a keynote panel with subject matter experts in the crypto space: the co-founder of digital payments company Flexa, Trevor Filter, andTony Gallippi, co-founder of Bitcoin payment service provider BitPay.

"It's a super exciting lineup of topics and speakers," says Julie. "We have experts that can articulate the unique concerns merchants are facing when deciding to accept crypto. I'm looking forward to getting the perspective of law enforcement too; a presenter from Europol will walk us through current state of anonymity in crypto transactions. Anyone interested in the blockchain, or cryptocurrency will benefit from these unique perspectives."

Registration for the MRC Crypto Virtual Summit is open now. Attendees can explore the detailed agenda for more information.

About the MRC:

The MRC is a non-profit 501(c)6 global membership organization connecting eCommerce fraud prevention and payments professionals through educational programs, online community groups, conferences, and networking events. Encompassing 600+ companies, including 400+ merchants, it provides education on fraud prevention, payments optimization, and risk management.

The MRC launched in 2000 and continues to be at the forefront of industry evolution and the ongoing fight against eCommerce fraud.

Media Contact:Lea ProsenicaTelephone: +1 678-593-0391Email: [emailprotected]MRC Logo Link: download image

SOURCE Merchant Risk Council (MRC)

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MRC Crypto Summit Brings Together Industry Experts to Explore How Cryptocurrency is Changing eCommerce - PR Newswire

Robinhood Markets (HOOD -0.66%) just announced that it would add Stellar (XLM -0.83%) to its menu of crypto assets within its popular trading app. This unexpected news comes at a time when the price of Stellar has been in a free fall for much of 2022. Is now finally the time for Stellar, which trades at about $0.12, to make a run at the $1 mark?

Even with the good news from Robinhood, a lot has to go right for Stellar to reach $1. In its entire history (which extends back to 2014), its all-time high was just $0.94. That's right: Even during the frothiest crypto markets of the past few years, Stellar never broke the psychologically important $1 barrier. So let's look at some of the factors that could help propel Stellar to the $1 mark.

Stellar is a top 30 cryptocurrency by market capitalization, and is widely available for trading on the top cryptocurrency exchanges. But getting listed on Robinhood could be a great way to get in front of even more investors, especially millennial and Gen Z crypto enthusiasts who dream about super-cheap cryptos that rocket to the moon.

Right now, there are less than 20 cryptos listed on Robinhood for trading, so Stellar is getting an implicit but very important seal of approval. At the very least, people who have forgotten all about Stellar will now get a subtle reminder every time that they log in to buy or sell popular cryptos on Robinhood.

Image source: Getty Images.

The real value of Stellar is in its payment processing network. Using the token, you can send money around the world nearly instantly and for almost no cost.In one hypothetical example, a bank in Japan could send money to a bank in Mexico for no cost, almost instantaneously.

That's actually a huge deal, because if you didn't use Stellar, you would have to convert yen into pesos and also use an international payment network to send the money from Japan to Mexico. Ordinarily, that type of transaction would really rack up the fees and foreign currency conversion costs.

So it makes sense that Stellar has lined up a lot of big payment partners around the world, including IBM and MoneyGram International, to make sending money cheaper and easier. IBM, for example, used Stellar to set up a proprietary global payment network, and MoneyGram has used Stellar to reduce the cost of sending remittances around the globe.The aim of Stellar is to connect the world's financial system, not to replace the world's financial system. So you can see why many people have been bullish about the prospects of Stellar in the past.

At the beginning of 2022, Stellar unveiled a road map for the future that involved a number of interesting elements. One of these is smart contracts. You can think about smart contracts as "programmable money," and this could be very big for the future of Stellar, adding even more value to the payment network.

And Stellar emphasized the need for more diversity and innovation in how and where its services are provided. It noted that markets such as Mexico, Brazil, and Kenya could become central to its future as a market innovator in developing nations, as part of its mission to serve the world's unbanked.

Given all of the new buzz surrounding Stellar, why is it still trading for mere pennies? One answer could be that it has significantly more rivals than it did back in 2014. Up-and-coming blockchains that have recently launched tout their lightning-fast transaction-processing speeds. And don't forget, Stellar has long had a direct rival in XRP (XRP -0.79%), which has a payment-processing network often compared to Stellar's.

For the moment, it looks like the most optimistic scenario for Stellar is for it to reclaim its late 2021 highs sometime over the next 24 months. That would require a tripling in value. From there, Stellar would have to roll out a large number of partnerships with financial-services companies and expand globally to triple once again and have a shot at the magical $1 mark. But if Stellar manages to pull off this feat, it could turn out to be one of the greatest 10-bagger crypto investments ever.

Dominic Basulto has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Can the Cryptocurrency Stellar Ever Reach $1? - The Motley Fool

In mid-July it was announced that Polygon(MATIC -2.37%) would be a participant in Walt Disney's (NYSE: DIS) Accelerator program. The Accelerator program is a business development initiative designed to promote the growth of innovative companies from around the world. Companies selected for the program receive guidance and funding from Disney to help further build upon their business vision. Ultimately, Disney hopes that this investment in these companies will result in a product that further expands the Disney experience in new and innovative ways, too.

Based on the current round of members selected for the 2022 Accelerator program it looks like Disney has its sights set on blockchain, augmented reality (AR), the metaverse, non-fungible tokens (NFTs), artificial intelligence (AI), and everything Web3. Polygon was one of six members to be accepted into the program. This year's other inductees specialize in different areas of Web3, but Polygon was the only blockchain network selected. It isn't uncommon for past participants of the Accelerator program to be acquired by larger companies or even go public on the stock market.

In a perfect world, this collaboration with Disney would result in Polygon becoming the base blockchain for Disney to build its Web3 enterprises on. Imagine a future where Disney releases collectible NFTs of movies and characters or an AR-based experience that Disney park visitors can immerse themselves in. For this vision to come to fruition there needs to be a base blockchain on which transactions can be made. All current signals point to Polygon serving that role.

For investors in Polygon, it likely can't get much better. With an investment of not only time, but also money and resources from one of the most well-known brands in the world, Polygon could just be starting its path to long-term success.

Disney likely tapped Polygon because developers continue to build innovative solutions for its blockchain to become the premier Layer 2 solution for Ethereum. With its sidechain technology, Polygon is able to offload some of the congestion and high fees that plague Ethereum when traffic is high.

Just a week after the Disney news, Polygon announced that it has made another stride to fulfill its goal of becoming the blockchain for all things Web3. Known as zero knowledge Ethereum Virtual Machine (zkEVM), this solution will further reduce network costs and increase transaction capacity. It is believed that the introduction of zkEVM will reduce fees by roughly 90%. Even better, this new scaling solution should enable Polygon to process as many transactions as Visa. It's estimated that Visa can handle about 1,700 transactions per second, but with the introduction of zkEVM, Polygon developers believe they can hit 2,000 transactions per second.

With the release of zkEVM, Polygon might be turning its goal of dominating Web3 into reality. The blockchain might be on the verge of accomplishing what Polygon co-founder Mihailo Bjelic called "the holy grail of Web3 infrastructure." In Bjelic's eyes, a Web3 blockchain must have three major properties: scalability, security, and Ethereum compatibility. It looks like Polygon might have gone three for three on that front now that zkEVM is live.

At a price just under a dollar today and down nearly 70% from its all-time high, how could you not like Polygon in its current position? With the developments of zkEVM being released and the collaboration with Disney, Polygon is building a foundation for long-term success. Don't be surprised if Polygon doesn't look back from these prices.

RJ Fulton has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum, Polygon, Visa, and Walt Disney. The Motley Fool recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney. The Motley Fool has a disclosure policy.

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Why Disney Is Backing This Cryptocurrency and You Should, Too - The Motley Fool

Cryptocurrency race next year

A new wave of cryptocurrencies, called Web3 cryptos, is dedicated to realising the decentralised Web3 concept. To give users control over their data and enable transactions without the use of intermediaries, they combine blockchain technology with smart contracts.

Web3 is a common name for the third generation of the internet. By operating in a decentralised manner owned, created, and managed by people, it seeks to take power away from powerful businesses.

The current level of cryptocurrency volatility makes it impossible to predict when the market will experience a significant decline.

Here are 10 cryptocurrencies that will likely be in direct competition with one another in 2023:

1) Tether (USDT)

Tether, a Hong Kong-based business, has created USDT, a stablecoin (stable-value cryptocurrency) that tracks the value of the US dollar. Realcoin, which was first introduced in July 2014, was then changed to USTether and finally to USDT.

2) Filecoin (FIL)

For Web3, Filecoin is like a filing cabinet. It is a decentralised storage network that offers a safe substitute for centralised cloud storage and a passive revenue stream. All data, including text, audio files, movies, and still photographs, can be stored with Filecoin.

3) Livepeer (LPT)

A decentralised video streaming network called Livepeer was created using the Ethereum blockchain. The protocol offers direct broadcast and streaming services at a reasonable cost at the Web3 video stack layer. It primarily focuses on two objectives: distributing real-time video and encouraging network users to participate.

4) Solana (SOL)

Decentralised finance (DeFi) solutions are offered by the highly active open-source project Solana, which relies on the permissionless nature of blockchain technology. The Solana protocol aims to make the development of decentralised applications simpler. Solana attracts interest from institutional and small-time traders because of its unique hybrid consensus strategy.

5) Ocean Protocol (OCEAN)

For those wishing to invest in a Web3 token with lots of potentials, OCEAN is one of the finest options. The protocol has developed several tools required to create Web3 apps.

6) ZCash (ZEC)

One of the earliest cryptocurrencies with privacy built in was called ZCash. The only difference between this coin and Bitcoin was the addition of a privacy feature.

7) Kadena (KDA)

With the use of braided chains, the scalable PoW layer-one blockchain system known as Kadena promises to be able to execute up to 4.8 lakh transactions per second. Unlike Bitcoin, Kadena has Ethereum-like smart contract functionality.

8) BitTorrent (BTT)

BitTorrent is the first torrent tracker and the world's most effective peer-to-peer network. Large files are broken up into smaller pieces and sent over the internet, where they are combined into one whole on the recipient's computer.

9) Flux (FLUX)

Users can create decentralised projects and Web3 apps with Flux's assistance and then deploy them across numerous networks. Along with SaaS, it also provides blockchain-as-a-service (BaaS).

10) Polkadot (DOT)

When comparing the Polkadot network to Ether, it performs better due to its reputation for seeking scalability and higher rankings for low fees and quick speeds. DOT can be regarded as the market leader due to its dominant position and steady increase in market value.

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Cryptocurrency Race In 2023: Will These Tokens Face Off Against One Another? - NDTV Profit

Road Town Tortola, British Virgin Islands, Aug. 10, 2022 (GLOBE NEWSWIRE) -- WhiteBIT has been talking about significant innovations since the start of its massive market expansion. Only a month ago, the platform implemented futures trading, becoming one of the few crypto exchanges globally that offer such a feature. Now, WhiteBIT announced the launch of its own token, which seems like a logical step for the evolution of the exchange.

Here are the main things to know about WhiteBIT Token:

Being the WhiteBIT in-house token, WBT will, little by little, expand the range of opportunities available to the platform users. Find all the updates on WBT on the official WhiteBIT website.

"The launch of our token is a logical stage in our ecosystem development, which will contribute to a better operation of WhiteBIT projects and provide more opportunities for our users. This is a special product, nurtured by deliberate work of advanced specialists and true connoisseurs of high-quality blockchain innovations," said Volodymyr Nosov, the CEO of WhiteBIT.

About WhiteBIT

It is the biggest European crypto exchange that corresponds to all the KYC and AML requirements. The platform was established in 2018 but has already managed to provide high-quality services in digital finances to more than 3 million users worldwide. The platform has an AAA cybersecurity rating and is one of the Top 2 safest exchanges globally, according to an independent Hacken audit. With its up-to-date technologies, the platform ensures prompt deposits and withdrawals of fiat via Mastercard, Visa, and partner payment systems.

Among its most outstanding features are margin trading with up to 20x leverage, a profitable referral program, the highest rate for SMART Staking, Demo Token for the newbies, and much more.

Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. This is not an investment advice. Please do your own research.

Contact Details :

Contact Person : Iryna CherniakCompany: WhiteBIT Email - iryna.cherniak@whitebit.comLocation - Road Town Tortola VG1110 , BRITISH VIRGIN ISLANDS

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WhiteBIT - The Largest European Cryptocurrency Exchange launches Its Own Token - GlobeNewswire

Ethereum coin

Jakub Porzycki | NurPhoto | Getty Images

Ethereum, the second-largest cryptocurrency by market value, just ran a final dress rehearsal ahead of a years-awaited upgrade that's been billed as one of the most important events in the history of crypto.

Since its creation almost a decade ago, ethereum has been mined through a so-called proof-of-work model. It involves complex math equations that massive numbers of machines race to solve, and it requires an abundance of energy. Bitcoin mining follows a similar process.

Ethereum has been working to shift to a new model for securing the network called proof of stake. Rather than relying on energy-intensive mining, the new method requires users to leverage their existing cache of ether as a means to verify transactions and mint tokens. It uses far less power and is expected to translate into faster transactions.

The final test took place Wednesday at around 9:45 p.m. ET.

Ansgar Dietrichs, a researcher with the Ethereum Foundation,said in a tweetthat the most relevant metric for success when it comes to a dry run like this is looking at time to finalization. He called it "another successful test."

A research associate from Galaxy Digital pointed out that the participation rate after the test merge dropped, and it looked like there may have been an issue with one of the clients but overall, it worked.

"A successful Merge = chain finalizes,"Christine Kim wrote in a tweet, adding that we are likely to see similar types of issues with the upgrade on mainnet, "but the point is, the Merge worked."

The timing of the upgrade will be discussed at a meeting of ethereum core developers on Thursday. Previous guidance indicated that the merge should go into effect in mid-September.

Ethereum's transition has been repeatedly pushed back for the last several years. Core developers tell CNBC that the merge has been slow to progress, in order to allow sufficient time for research, development and implementation.

The price ofether, the token native to the ethereum blockchain,has been on an upswing the last month, rising nearly 80%, including a gain of 10% in the last 24 hours to around $1,875. However, it's still down by about half this year.

One of ethereum's test networks, or testnets, called Goerli (named for a train station in Berlin), simulated a process identical to what the main network, or mainnet, will execute in September.

Testnets allow developers to try out new things and make necessary tweaks before the updates roll out across the main blockchain. Wednesday night's exercise showed that the proof-of-stake validation process substantially reduces the energy necessary for verifying a block of transactions, and also proved that the merger process works.

"Goerli has this badge of a bottom-up testnet," said Josef Je, a developer who worked with the Ethereum Foundation and now runs a permissionless peer-to-peer lending platform called PWN.

Je added that it was the most used testnet at this point and that proof of stake on Goerli will be almost identical to how things will run on the mainnet.

The Ethereum Foundation's blog echoed that assessment, saying Goerli is "the closest to mainnet, which can be useful for testing smart contract interactions."

Tim Beiko, coordinator for ethereum's protocol developers,told CNBC that they typically know "within minutes" whether a test was successful. But they'll still be looking out for many potential configuration issues in the hours and days ahead so they can quickly fix them.

"We want to see the network finalizing and having a high participation rate amongst validators and also make sure we don't hit any unexpected bugs or issues," said Beiko.

The easiest metric to track is participation rate, meaning how many validators are online and doing their duties, Beiko said. If the numbers go down, developers will have to figure out why.

Another key issue relates to transactions. Ethereum processes transactions in groups known as blocks. Beiko said one clear indicator the test went well will be if the blocks have actual transactions in them, and aren't empty.

The last major check is whether the network is finalizing, meaning that more than two-thirds of validators are online and agree to the same view of the chain history. Beiko says it takes 15 minutes in normal network conditions.

"If those three things look good, then there's a long list of secondary stuff to check, but at that point, things are going well," said Beiko.

Since December 2020, the ethereum community has been testing out the proof-of-stake workflow on a chain called beacon, which runs alongside the existing proof-of-work chain. Beacon has solved some key problems.

Beiko said the original proposal required validators to have 1,500 ether, a stake now worth around $2.7 million, in order to use the system. The new proof-of-stake proposal lowers the bar, requiring interested users to have only 32 ether, or about $57,600.

"It's still not a trivial sum, but it's a much more accessible system," Beiko said.

There have been other key developments leading up to Wednesday's test. In June, ethereum's longest-running testnet, known as Ropsten, successfully merged its proof-of-work execution layer with the proof-of-stake beacon chain. It was the first major dry run of the process that the mainnet will undergo next month, should all go according to plan.

Beiko said testing the merge has allowed developers to ensure that the software running the ethereum protocol was stable and "that everything built on top of the network was ready for the transition."

WATCH: Behind the nearly $2 trillion crypto wipeout

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Ethereum just pulled off its final test run ahead of one of the most important events in crypto - CNBC

GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today introduced the ability for customers to access 24/7 crypto trading through an enhanced web application available from Paxos Trust Company. Clients who elect to manage the funding of their crypto account themselves can pre-fund their crypto accounts at Paxos during regular US banking hours and then trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), plus additional coins around the clock.

This gives our clients a simple and low-cost way to access crypto markets at any time, said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. With the added ability to pre-fund accounts, our clients have greater flexibility to react to market events and manage their cryptocurrency exposure.

The new features let clients:

While other crypto exchanges and brokers charge trading fees as high as 2.00% of trade value or more, Interactive Brokers customers trading with Paxos pay low crypto commissions of just 0.12% - 0.18% of trade value, depending on monthly volume, with a USD 1.75 minimum per order. In addition, there are no added spreads, markups, or custody fees.

The new crypto features are available to US residents and clients of Interactive Brokers in over 100 countries with individual or joint accounts, as well as certain types of institutional accounts. In addition, clients of Interactive Brokers can trade crypto alongside stocks, options, futures, bonds, and funds on a single unified platform. Cryptocurrency trading is available through the companys trading platforms, including Trader Workstation, Client Portal, IBKR Mobile, and IBKR GlobalTrader, IBKRs simple new mobile app for global stock trading, as well as through the Paxos web application.

For more information, visit ibkr.com/crypto.

About Interactive Brokers Group, Inc.:Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 150 markets in numerous countries and currencies, from a single unified platform to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. For the fifth consecutive year, Barrons ranked Interactive Brokers #1 with 5 out of 5 stars in its March 25, 2022, Best Online Brokers Review.

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Interactive Brokers Expands Cryptocurrency Trading - Business Wire

Cryptocurrency adoption across the globe has been moving slower than most would like, but there is no doubt that there has been a lot being done so far. It started with El Salvadors adoption of bitcoin as a legal tender, and it has spiraled from there. One thing that is yet to be done is a cryptocurrency backed by a nation. While other countries have gone the path of the Central Bank Digital Currency (CBDC), the Central African Republic has introduced an innovative monetary system to the world.

Sango is a Layer 2 solution that is built on top of the bitcoin blockchain. When they say Sango is bitcoin-backed, it doesnt mean just backed by BTC coins, but that the entire system is built atop the largest decentralized network in the world. The Sango sidechain is also backed by the Central African Republic, making it the first and only cryptocurrency ecosystem to be backed by a nation.

The CAR, like other nations, has moved further in its drive to adopt digital assets as citizens of the world move in that direction. Sango will power a new digital monetary system that is being developed by the country by taking all of the good bits of the bitcoin network and improving on areas where the network falls short. This sort of infrastructure is only possible through using blockchain technology.

By being a sidechain, Sango can bypass the network congestion that bogs down the bitcoin network by distributing the load across a second layer. This helps Sango to improve scalability, offer more privacy, and enhance programmability using smart contracts. It will enable users to make faster payments, as well as cross-border remittances.

Faustin-Archange Touadra, the President of the Central African Republic, has put forward that SANGO Coin will be the currency of the next generation. It is no surprise that the president has made such a bold statement, given the capabilities and applications of the SANGO Coin.

SANGO Coin transcends just being used as a means of payment. Yes, it can be used to carry out fast and efficient transactions, but the SANGO Coin utilities far exceed anyones expectations. Being backed by bitcoin, it already has a strong foundation coming into the cryptocurrency market.

Investing in SANGO Coin also opens the doors to the Central African Republics natural resources, which are currently valued at more than $3 trillion. Individuals can also apply for citizenship through investment by buying SANGO Coins, as well as applying for e-residency for individuals and corporations who wish to exist as digital entities in the country.

Throughout history, there have been times when something new has overthrown the existing system. This can come in the form of new ways to invest or a new currency that overtakes the existing one. Sango actually provides both.

Bitcoin is already a known and accepted store of value, so the SANGO Coin benefits from this establishment too. Since Sango will be pegged to bitcoin, users will also be able to transact with wrapped bitcoin (s-BTC) in the Sango ecosystem.

The infrastructure that makes up the Sango ecosystem has been designed to serve the needs of governmental structures in a way bitcoin was not built to do. This is why building on the bitcoin blockchain but creating a new cryptocurrency was the best path for CAR.

The utility of the SANGO Coin has already earned it accolades from prominent bitcoin evangelists such as MicroStrategy CEO Michael Saylor and Binance CEO Changing Zhao. Other African countries are now also looking to CARs system in hopes of implementing a similar one.

SANGO Coins are currently available for sale on the website at a discounted $0.10 per coin.

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Global Adoption Of Cryptocurrency The First Cryptocurrency Backed By A Nation - NewsBTC