The fact that miners have organized themselves into pools worries some. If a pool exceeds 50% of the network's mining power, its members could potenkusama coin todaytially spend coins, reverse the transactions, and spend them again. They could also block others' transactions. Simply put, this pool of miners would have the power to overwhelm the distributed nature of the system, verifying fraudulent transactions by virtue of the majority power it would hold.
Prepare for the most significant shift in the crypto market!buy fractional bitcoin canadaEditorial Note: This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
UPDATED September 15th 2021. Who offers the best crypto interest rates? With the growth of DeFi & CeFi applications, crypto lending, margin exchanges, and stakable cryptocurrencies over the last few years, it can be difficult to know where the best yields for your idle capital are. Following on from our guide to crypto yield farming, this survey looks into the major crypto lending platforms and examines the different interest rates offered by them.First, an understanding of the difference between ‘crypto lending’ and ‘crypto borrowing’ in the context of this article is important. If you are lending in the scenarios below you are loaning your assets to the platforms featured with the expectation that you will earn interest on your crypto assets. Your goal is the return of your original sum, with earned interest. This article does not explore crypto borrowing - where you would borrow assets (or fiat in some cases) from a platform, which you would be required to repay - with additional interest.The question of which is the best crypto lending platform is open to debate - as each has its own approach and processes - but certainly annual interest rates paid are a good place to start. All interest rates were recorded on the 1st of March 2021 and are subject to change.1. DeFi LendingDemand for borrowing in the DeFi world comes as a result of either margin trading on decentralized exchanges or from borrowing on DeFi applications. The constant fluctuation of demand and supply on DeFi applications results in yields that are fairly volatile. Due to the majority of DeFi applications being on the Ethereum network, borrowing and lending consists mainly of Ethereum, ERC-20 tokens, and wrapped Bitcoin, which is an ERC-20 token that is backed 1:1 with Bitcoin. The business model of the platforms can differ slightly.
2. Centralized LendingIn addition to DeFi lending there are also many centralized crypto lending companies. Because loan origination happens in a centralized fashion with these companies, the interest rates are typically more stable as the lending entity sets the rate rather than pure market forces. Interest rates on centralized lending platforms are usually higher than other platforms, which is appealing to lenders.Major stock exchanges in mainland China were closed on Monday and Tuesday for the annual mid-Autumn festival.
Despite the recent falls, Japan's Nikkei is up by almost 30% compared to a year ago."The fear of an Evergrande bankruptcy appears to be leading to concern about China's very own Lehman [Brothers] moment, and a big overspill across the region," said Michael Hewson of CMC Markets.Investors are also nervous that the US Federal Reserve, which meets on Tuesday and Wednesday, will confirm plans to cut back support for the US economy this year.Global stocks have rallied as economies reopen and central banks have provided trillions of dollars in support to boost growth.
But there are concerns of a decline if support is taken away at a time when the Delta variant of coronavirus continues to drag on recovery.Strategists at Morgan Stanley said they expected a 10% correction in America's S&P 500 index as the Fed starts to unwind its support.
They added that signs of a stalling recovery could deepen that slide to 20%.However, other analysts played down fears of a rout, noting that September is typically a bad months for stocks."Overall, September continues to live up to its bad reputation as historically the weakest month of the year. But that doesn't mean it can't rebound," said JJ Kinahan, chief market strategist at TD Ameritrade.And Lindsey Bell of Ally Invest said any pullback may be short-lived.
"Much of investing is about sorting through what's signal and what's noise," she said. "While there is concern about the Evergrande situation infecting global markets, for the long-term investor, this situation may just be noise."Douyin, China’s version of TikTok, will limit use of the platform for children to 40 minutes a day.The rules will apply to users under 14, who have been authenticated using their real names, and who will be able to access it between 06:00 and 22:00.Parent company Bytedance announced the app’s Youth Mode in a blog post, saying it is the first short-video company in the industry to have these limits.
It comes as China cracks down on teenagers' use of technology.According to Douyin's user agreement there is no minimum age on the platform, but under 18s must obtain the consent of a legal guardian. On sister app TikTok the minimum age is 13.
New educational content - including science experiments, museum exhibitions and historical explainers - has been launched by Douyin as part of Youth Mode.Analysis - Kerry Allen, BBC China media analyst
These regulations on China's version of TikTok have been a long time coming.For the last three years, official media has been warning that the growing amount of time young Chinese people are spending on the internet is having an impact on their physical and mental health.Data from social media agency We Are Social suggests that Chinese people frequently spend more than five hours a day online, two hours of which is on social media.Although this data doesn't include those under the age of 16, online learning has been very present in young Chinese people's lives over the last year because of Covid-19. Added to that, official broadcaster CGTN says 95% of China's youth population is online nowadays - 183 million minors.Back in 2018, China's regulators said that they were seeking to limit the amount of time that minors spent online, because of rising levels of near-sightedness among children.Douyin, much like TikTok, is particularly popular with young audiences, and so China's top regulator, the Cyberspace Administration of China, has urged it to "create a good cyberspace environment for the healthy development of young people".
Back in 2019, Douyin and rival service Kuaishou began trialling "anti-addiction measures". They introduced child locks, and experimented with functions that could limit the amount of time children spent on these platforms.Binance, the world’s largest cryptocurrency exchange by trading volume, continues limiting its services amid the ongoing global regulatory scrutiny, announcing new trading restrictions in Australia.
Existing Binance users in Australia will have 90 days to reduce and close their positions for products like cryptocurrency futures, options and leveraged tokens, the exchange announced Sept. 20.Effective from Friday, Australian users will no longer be able to increase or open new positions for derivatives products on Binance. Users will still be able to top-up their margin balances to prevent liquidations and margin calls, the announcement notes.
After Dec. 23, Binance users in Australia will no longer be able to manually reduce or close their positions as all remaining open positions will be closed.“We are committed to our industry for the long term and we want to ensure our product offerings are welcomed by users and local regulators,” a spokesperson for Binance told Cointelegraph. “We also monitor local regulatory requirements across different markets as Binance operates globally. We want to ensure the process for any transition we make is not disruptive,” the representative added.
Related: Binance limits SGD product offerings in Singapore amid regulatory warningsBinance’s latest trading suspensions in Australia follow a series of similar restrictions in other countries amid the exchange facing several warnings from multiple global regulators. In August, Binance reportedly halted crypto derivatives trading in Brazil, following similar suspensions on its Hong Kong operations. Previously, Binance suspended derivatives trading for users in Germany, Italy and the Netherlands as part of its broader plans to cease these products across Europe.Sorare, a marketplace for nonfungible token (NFT) trading cards, has raised $680 million in a Series B funding round led by Japanese fintech giant SoftBank, resulting in a revised valuation of $4.3 billion for the platform. According to the company, the latest funding will help expand Sorare’s portfolio of football player NFTs by partnering with more football leagues and associations.In early September, the French NFT-based trading platform secured its first soccer league partnership with La Liga in addition to having NFT collaborations with PSG, Liverpool and other top-tier soccer teams. Sorare also plans to diversify its NFT-based portfolio offerings to other fantasy sports.
Existing investors and high-profile business angels participated in the funding, including Benchmark, Accel and Headline. New investors include Atomico, Bessemer Venture Partners, D1 Capital, Eurazeo, IVP and LionTree.In July, SoftBank had led a $532 million funding round for Sorare. However, Sorare CEO Nicolas Julia denied the funding claims, which was initially fueled by insider information.
Related: NFL reportedly bans teams from crypto advertisements and NFT salesAlthough the football community has readily accepted the NFT marketplace, the United States National Football League (NFL) has recently barred teams and members from participating in NFTs or any other form of crypto-related partnerships.
An anonymous NFL member said that the new guidelines prohibit clubs from selling, promoting and advertising blockchain and digital assets in any form until further notice.In addition, mainstream fintechs such as Visa have described NFTs as a promising medium for fan engagement as the market registered $2.5 billion in sales during the first half of 2021.
The crypto markets and the U.S. equity markets sold off on Sept. 20 on fears that the collapse of Chinese property giant Evergrande could not only hurt China but also have wider implications in other markets.When the sentiment is bearish, traders dump positions that they perceive as risky in favor of safe-haven trades. This could be one of the reasons for the sharp fall in Bitcoin (BTC) and most major altcoins on Sept. 20.Data from Bybt shows that Bitcoin held in Binance wallets has surged by 29,717 Bitcoin in the past 30 days. History suggests that an increase in the Bitcoin balance on Binance has resulted in a drop in Bitcoin’s price.The Bitcoin balance on Binance rose from 99,700 BTC on April 20 to 347,590 BTC on June 26. During this period, Bitcoin’s price plunged from about $57,000 to roughly $30,000.
Now the question is, could the sell-off deepen or will lower levels attract aggressive buying from traders? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Miami Mayor Francis Suarez has been celebrating the success of a recent initiative to fund municipal projects through the proceeds of a city-specific crypto protocol built atop the Bitcoin (BTC) blockchain.
On Sept. 13, Miami’s city commissioners voted to accept funds generated by a new cryptocurrency, MiamiCoin, which was launched in August by CityCoins. The coin is built on Stacks, an open-source network of decentralized apps and smart contracts that use the Bitcoin blockchain as a programmable base layer.Hard-coded into MiamiCoin’s protocol is the requirement that 30% of all coins mined are routed to a digital wallet designated for the city. Those funds will be earmarked for spending on projects such as projects to mitigate the risks of climate change, funding initiatives for underprivileged communities, and investing in crypto education for tech entrepreneurs.
Fox Business estimated last week that roughly $2,500 worth of Stacks (STX) at its then-value of $1.50 were being transferred into the city's wallet every 10 minutes. In an interview with Fox on Sept. 20, Mayor Suarez confirmed the ballpark figure, stating that mining proceeds generated over $2,000 every 10 minutes and "over 5 million USD over the last 30 days".In voting to accept the funds raised since August, the Miami City Commission did not vote to spend them–yet. Instead, it accepted the USD equivalent of the proceeds and will hold them in reserve for future municipal spending. Conversion into fiat currency ensures that the city does not custody cryptocurrency directly. In his Fox interview, Suarez said of the initiative:“It’s interesting because it’s not an involuntary tax, it’s not philanthropy, it’s something that is completely different and could revolutionize the way governments are funded in the future.”