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Incompatibility is inevitable when you have dozens of blockchain networks with their own smart contract formatting. This is why Bitcoin cannot simply be transferred to Ethereum in its original state. Bitcoins can be wrapped as Ethereum-compatible ERC-20 tokens, making that into Wrapped Bitcoin (WBTC). Wrapped Bitcoins are to Bitcoin what the USDT stablecoin is to the dollar. Both circumvent incompatibility via a new, compatible digital asset anchored into the original one. But, is there more… Source link

Ethereum’s upgrade to proof-of-stake (PoS) may make it more vulnerable to government intervention and censorship, according to the lead investigator of Merkle Science.  Speaking to Cointelegraph following the Ethereum Merge, Coby Morgan, a former FBI analyst and the lead investigator for crypto compliance and forensic firm Merkle Science, expressed his thoughts on some of the risks posed by Ethereum’s transition to PoS. While centralization issues have been broadly discussed leading up… Source link

Polkadot price could bounce near this level, but the technicals suggest a larger selloff is coming. Polkadot price shows reasons to be concerned as the bears are hours away from printing a classical shooting star reversal pattern on a 3-day chart. The last time the classic reversal pattern formed was a month ago.   XRP price is in trouble as the bears persistently flex their control. Following the US  CPI release on September  13, Ripple has fallen 10%…. Source link

Equity markets also had their problems with the tech-focused Nasdaq and the S&P 500, which has a strong technology component, both declining more than a percentage point, and the Dow Jones Industrial Average (DJIA) losing about 0.5%. Investors remain skittish about inflation and the looming robustness of the U.S. central bank’s next interest rate hike at its Federal Open Reserve Committee meeting in less than a week. Observers of monetary policy widely expect a third, consecutive 75 basis… Source link

Litecoin [LTC] and other top cryptocurrencies have been overshadowed by the Ethereum [ETH] Merge for the last few weeks. Interestingly, LTC may have actually benefited from the Merge from a hashrate perspective. An inspection of Litecoin’s hash rate reveals a sharp uptick in the first 10 days of September. Its hash rate grew from as low as 390.93 TH/S on 31 August and peaked at 527 TH/S on 9 September. Source: Coinwarz The timing of Litecoin’s hash rate spike aligns with… Source link

Ethereum, the blockchain network behind the world’s second-largest crypto token ether, just completed a major software upgrade that could revolutionize the cryptocurrency universe, some experts say.  The upgrade, called “the Merge” by crypto enthusiasts, promises to lower Ethereum’s energy consumption and attract more users.  Climate activists have long criticized digital assets because producing them uses enormous amounts of electricity and generates large CO2 emissions. The… Source link

Some of these problems are to be expected given the sweeping and radical nature of the program. “Any sovereign nation that disrupts at a level as foundational as its monetary system will not do so without encountering unforeseen complications, initial gridlocks and the need for an adjustment period,” says Ian Gaines, communications director of the Bitcoin Policy Institute, which advocates for BTC adoption. Expecting such a program to reach its full potential in one year, he says, “is… Source link

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Bloomberg’s closely followed senior commodities strategist, Mike McGlone, is expressing bullish sentiment on crypto assets once inflation is wiped out. McGlone says in an interview that he expects Bitcoin (BTC), Ethereum (ETH) and other crypto assets to “come out ahead” once deflation sets in as a result of the Federal Reserve hiking interest rates to contain inflation. “[The Fed hiking rates is] going to lead to a really good, more productive markets where stock markets… Source link

The price of ether fell Thursday after the Ethereum network completed its migration to the proof-of-stake consensus mechanism, also known as the “merge.” Ether was last down about 5% to $1,511.99, after falling as low as $1,459.00 earlier, according to Coin Metrics. Traders had expected to see a decline in the price following the transition late Wednesday night. related investing news Young investors should trust the markets, not try to time it, this long-time money manager says “It is important… Source link