CRYPTO NEWS AGREGATOR
Fri, Jul 2, 2021 7:17 PM by Valte

Weekly Digest: CMC Swap & DOGE Fees with BTCMANAGER

BTCMANAGER with CoinJoy

Every week we make a digest about the most significant news in crypto with bloggers and crypto community members, but this week we decided to check out what our friends from the media find interesting in the world of crypto.

Please welcome BTCMANAGER and don’t forget to add them to your CoinJoy Feed!

📌 NYDIG to Enable Bitcoin Trading for 24M Americans via their Bank Accounts

New York Digital Investment Group partnered with NCR, an Atlanta-based enterprise payment staple firm to simplify the Bitcoin offering for the American banks. Even though the crypto market now is in the downfall, many of the financial institutions in the USA and in the rest of the world start dealing with cryptocurrencies. This latest deal, in particular, will enable 650 financial institutions to offer to buy and sell BTC to their over million clients. NYDIG will provide the custody for the Bitcoin offered for trading by NCR’s banking and union clients. To overcome technical limitations chained with providing this type of service NCR will create its own custody solution in the future. They also plan to enable Bitcoin payments in their 200’000 restaurants and retail points. The company is also looking forward to expanding its blockchain use cases.

“We’re firm believers in the benefits of crypto and its strategic application. And that’s true for our banking relationships, as evidenced by NYDIG, and across retailers as well as restaurants and the like.” — Douglas Brown, president of the NCR

📌 Beam Team Releases Roadmap Update: Confidential DeFi via BeamX, Cross-Chain Interoperability, & More

The Beam project is building a solution to rectify the shortcomings of the DeFi industry, such as in particular traceability of the public wallets. They’re working on launching a completely private DeFi ecosystem called BeamX so dApps can access a wide variety of financial instruments, including stablecoins and lendings without compromising the identity through a full-stack framework. Users will be able to easily launch them by default dApps. The new roadmap reveals that the team has already released a new wallet, nodes, and APIs and just recently had a complete hard fork set to activate at block height 12’800’000. This enabled smart contracts on the wallet and nodes and also issued Confidential Assets that now can be both sent and received and that enable users to create bonds to stablecoins, synthetics, etc. The team is currently working on a new update that will include an expanded user interface and after that, the team plans to create decentralized bridges and to connect Beam to the Ethereum blockchain. So after all of the updates complete the Beam community will be able to create a native fully confidential DEX.

“Between partnerships with other protocols, empowering developers, and a robust roadmap of upcoming features, BeamX appears to be positioning itself to leap to the forefront of blockchain privacy and become the industry leader of confidential DeFi.”

📌 Colorado Universities to Study Blockchain’s Usefulness for Water Management

The lawmakers from Colorado, USA have written the bill empowering the universities to study the potential use cases of blockchain and other new technologies in water management. It was caused by the Bureau of Reclamation report saying the country might face its first water shortage ever as the lakes are shrinking significantly this year. The bill called “Study emerging technologies for water management” is about empowering Colorado Universities to make deep research on how blockchain can be used to improve monitoring, management, conservation, and allocation of surface and ground waters. The research is also to be made about water recycling, reclaiming, and disposal more efficiently. The bill is still to be signed by the governor but if it happens the Universities will need to submit their fundings before July 15.

“The researchers are required to employ blockchain technology for “documentation, communication and authentication of data regarding water use, fulfillment of obligations under Colorado’s system of prior appropriation, including augmentation plans, and water conservation.”

📌 Dogecoin (DOGE) Transaction Fee Reduction Proposal Gets Approval

After Patrick Lodder’s proposal to change the Dogecoin fees policy was widely approved by the community five key changes are going to be implemented into the meme’s coin structure through the set of upgrades. Firstly, it will reduce the minimum relay fee to 0.001 DOGE, lower the dust limit to 0.01 Doge, and slashing the default fee rate to 0.01 Doge. The current relay fee of 1’000’000’000 makes it impossible to send the transaction fees lower than 1 DOGE to the miners for confirmation. Also, it will enable the free transaction feature inherited from Bitcoin 0.14 that reserves 27 Kb space in each block for confirmation of transactions with insufficient fees.

“While the proposed changes will definitely make Dogecoin cheaper for payments, the fact still remains that DOGE is only a meme coin whose supply is unlimited. Therefore, taking over the market share of established and more serious cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and others appears an insurmountable task at the moment.”

📌 El Salvador’s Chivo Bitcoin Wallet Not Compulsory for Residents

Nayib Bukele, the President of El Salvador mentioned in his Twitter account that the citizens of the country won’t be forced to use the “Chivo” Bitcoin wallet developed and issued by the government. In contrary with the prior concerns about the wallet becoming the only option for Salvadorians, the crypto-friendly country president assured that “Chivo” is just one of the numerous options available and also compatible with the other wallets, though the new wallet has significant pros, such as no transactions commission for sending/receiving and converting to USD and back. The citizens will also be able to exchange their BTC for cash in several ATMs across the country. Nayib Bukele also replied to the critics asking where the government will get the money to ensure commission-free transactions by saying that it’s just one of the budget expenses people don’t really notice and this once is comparably low.

📌 CoinMarketCap Testing the DeFi Waters with Token Swap Feature

CoinMarketCap, the leading cryptocurrency price and market data aggregator, will enable the feature of exchanging Ethereum-based Defi tokens right from the website. It will support Uniswap V1 and V2, and all the other wallets compatible with Uniswap. The Ethereum network is the only supported network. Later on, the CoinMarketCap might integrate more decentralized exchanges. To swap the tokens user needs to go to the specific crypto asset page where the converter is situated and there choose the option “Swap on CoinMarketCap”. Though the process is quite easy, the users might need to check the liquidity provider fee, the route, the price impact, the slippage tolerance and the minimum to be received as it can affect the transaction.

“As of today on CoinMarketCap, users can actually swap the tokens whose prices they had been admiring (or bewailing). On every supported network and token, you will be able to connect a supported crypto wallet and swap your tokens right on CoinMarketCap in a safe and secure way,” — CoinMarketCap team

📌 Ergo Provides Advanced Solutions for DeFi Enthusiasts

With all the buzz caused by the rapid development and adoption of DeFi projects, the ERGO platform stands out among the multiple layer one solutions offering the protocols for the furtherance of DeFi, as of being based on the researches and becoming a much better-developed version of the Bitcoin network using the same Proof of Work concept prioritizing security overall. The company held a 2-year anniversary on July 1 where the team and the event guests discussed the platform, the current trends, and the blockchain ecosystem in general. It didn’t go on without big announcements, including bounty programs, new exchange listings, and Ergo’s input into NFT competition.

“Since its launch, Ergo has continued to show a commitment to improving the user experience on its platform and the blockchain network as a whole.”

📌 Leading Stablecoin USDC to Be Issued on Energy-Efficient, PoS-Based Tezos (XTZ) Blockchain

Tezos Public Blockchain has been chosen by Centre – the company created by Circle and Coinbase to become one of the platforms to issue USDC tokens. In just a few months we’re promised to see the top stablecoin functioning on the eco-friendly, based on Proof-of-Stake concept blockchain network. Interestingly, the June of this year is the three-year anniversary of Tezos launch on its mainnet, which means it’s one of the most long-running PoS platforms today. As it offers secure token standards and continuously being upgraded and improved, it attracts lots of game developers, music companies, sport franchisers, and central banking organizations willing to integrate blockchain and also hosting the biggest NFT-platform so far. A recent achievement is a new contract with F1 teams Red Bull Racing Honda and McLaren Racing.

“The year 2021 has been nothing short of monumental for the Tezos ecosystem. The network activity grew a staggering 1200 percent as the Tezos community launched a plethora of marketplaces and applications across its ecosystem.”

📌 Spain: Ruling Party Proposes the Creation of a National Digital Currency

Spanish Socialist Party, which is ruling the country (holding the presidency and the majority in the Chamber of Deputies) at the moment proposed to create Spanish CBDC. The non-law proposition was made to reduce the cash usage in the country and also to make the usage of cryptos in Spain more stable and controlled. This announcement is coming not long after European Central Bank started to think of creating a digital euro to protect its funds from the operations in all the rest of cryptocurrencies. According to the PSOE proposition, the introduction of national digital currency will bring more liquidity into the system.

📌 Cook Finance, an Interoperable Crypto Asset Management Protocol, Launches on Ethereum

CookFinance, a DeFi protocol with the intention to revolutionize crypto asset management was launched on Ethereum mainnet and aims to create the first set of specially curated crypto index funds for the variety of investors’ needs. The next goal is to connect with Binance Smart Chain and Huobi Smart Chain and this is to be completed in the coming months. So in the future lots of projects and investors will be united on the same platform, thus making crypto indices more accessible for retailers and enable them to create their own indices. The users will get an opportunity to diversify the portfolio with the index that contains several crypto assets, instead of hand-picking out of 10K of crypto projects. The indices will integrate market analysis and theory related to the investors profile and history and reduce risks the asset will be regularly rebalanced.

“After downturns of the last two months, its launch flashed with the revival of crypto prices, most of which had plunged by over 70 percent.”

Prices

Weekly crypto prices

That’s all for now! For more info follow us and BTCMANAGER on Twitter, subscribe to our YouTube channel, and join our and BTCMANAGER’s Telegram.

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The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.

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