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Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency

As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public…

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Japanese messaging giant LINE developing CBDC platform

The platform would aid central banks in Asia with developing a central bank digital currency. LINE, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency The Chosun Ilbo reported on Oct. 19. Sources familiar with the matter reportedly told The Chosun that LINE aims to support the development of a so-called “customized CBDC.” The messaging company is discussing the application of its blockchain-based CBDC platform with several central banks in major Asian countries,…

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Telecoms protocol from 1975 exploited to target 20 crypto executives

At least 20 crypto executives and customers of an Israeli telecommunications company were targeted in a sophisticated SS7 attack last month. Hackers compromised the Telegram messenger and email accounts of multiple cryptocurrency executives last month by exploiting a vulnerability in a decades old protocol.  The fraudsters are believed to have been trying to intercept two-factor authentication codes of victims in an attack on Israel-based telecommunications provider Partner Communications Company, formerly known as Orange Israel. The attacks are currently being investigated by Israel’s National Cyber Security Authority, and national intelligence agency…

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Macro Investor Dan Tapiero on Crypto Adoption: Emerging Economies Ahead of Developed States

Bitcoin and gold holder Dan Tapiero, says it is still early to talk of widespread crypto adoption as the proportion of users relative to the rest of the population remains low. Tapiero makes the remarks while referring to a study, which places Nigeria at top of the list of countries with the highest number of respondents that say they own or are using cryptocurrency. According to the study, 32% of surveyed Nigerians say they used or owned cryptocurrencies in 2020 while in Japan, which is last on the list, only…

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Uniswap’s first governance vote fails … despite 98% support

Uniswap’s first governance proposal has ended in defeat, with votes in favor falling a whisker short of the required threshold. The first governance vote for decentralized exchange (DEX) Uniswap has ended in failure, despite the proposal attracting overwhelming support of 98% of votes cast. Despite this, it fell roughly 1% short of the 40 million votes threshold needed for approval by the close of voting. The poll ended earlier today with almost 39.6 million UNI staked in favor, compared to roughly 700,000 opposed. DeFi blogger Danger Zhang (‘@safetythird’) described the…

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Ethereum 2.0 deposit contract to launch this week: ConsenSys dev

An Ethereum 2.0 developer predicts the protocol’s deposit contract will be released in a matter of days, and that ETH 2.0 staking will go live this year. ConsenSys developer Ben Edgington has published an update that predicts the ETH 2.0 beacon chain genesis will happen within the next six to eight weeks. In a post announcing the launch of ‘V1.0.0 release candidate 0’, Edgington revealed the protocol’s deposit contract address feature should be announced this week. The deposit contract allows ETH to be sent between Ethereum and ETH 2.0, and…

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An Ethereum VR Game Featuring Atari and Care Bears Sells Plots of Virtual Land for $76K

A great number of Non-fungible tokens (NFTs) have been selling on various marketplaces this year creating tens of thousands of dollars in NFT sales. One particular platform called The Sandbox has been selling virtual land parcels for thousands of dollars worth of ether. The Sandbox is a virtual world that lets players create and own blockchain-backed virtual items in the metaverse built on the Ethereum network. On October 18, Sandbox revealed two 6×6 estates had been sold for 210 ether ($76,931) or 28x the original price. In the future, digital…

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This blockchain only needs 22 KB of data to be verified

Mina applies zk-SNARKs to Cardano’s Ouroboros consensus to achieve scalability and decentralization. Mina aspires to be the world’s tiniest blockchain, with claims that its protocol maintains a constant size of around 22 kilobytes. This is ostensibly achieved by using recursive zk-SNARKs — the same technology that is used by the privacy-centric cryptocurrency Zcash (ZEC). However, whereas the latter utilizes this technology to provide greater privacy to its users, the former employs it for scalability.  A zk-SNARK, which stands for zero-knowledge succinct noninteractive argument of knowledge, allows a party to prove that they have…

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Bitcoin price holds strong amid negative news blitz, says CoinShares report

There was a time when Bitcoin seemed to be directly influenced by the daily news cycle. Blockchain headlines have been awash with negative news tidbits lately. KuCoin suffered a major hack on Sept. 26; two United States regulatory bodies went after BitMEX on Oct. 1; the United Kingdom’s Financial Conduct Authority, or FCA, banned crypto derivatives on Oct. 6; and news came to light that U.S. stimulus payment talks had stalled around Oct 9. Bitcoin’s (BTC) price has appeared largely unfazed, however, despite this array of seemingly unfavorable stories. This could…

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Number of Bitcoin wallets holding over 100 BTC tests 6-month high

Wallets once again appear to be accumulating cryptocurrency at an increasing rate. According to analytics data provider Glassnode, 16,159 Bitcoin wallets now hold 100+ BTC. A report Monday from the company stated that this figure tests the previous six-month high of 16,158, last seen on June 8. Glassnode additionally shared that the number of non-zero Bitcoin addresses reached an all-time high of 31,913,3555 on Monday; approximately 5,000 of these were recorded within the past 24 hours. On Oct. 5, Cointelegraph reported that analyst and market cyclist Cole Garner had highlighted a two-year record increase…

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