Category Archives: Vitalik Buterin
Ethereum’s Vitalik Buterin May Get His Way on Ether Supply Cap … – Blockworks
Ethereum has no formal cap on the supply of ether, but it looks to be getting an informal one thanks to the burn.
The total ether supply is now projected to have peaked in March at 120.5 million ETH, and has declined by about 100,000 ETH since then, according to data from Ultrasound Money.
Some observers note the historical irony of that 120 million number; Ethereum co-founder Vitalik Buterin proposed it as a hard cap back in April 2018. To be fair, it was the first day of April, and Buterin confessed the following day that his suggestion was an April Fools prank of sorts though he did intend to encourage a very real debate on the subject.
Still joke or not Buterins suggestion was generally dismissed on the merits, as unhelpful and unworkable.
At the time, the circulating supply of ether due to its genesis allocations and subsequent proof-of-work issuance stood at about 98.5 million. It would be 32 more months before long-term holders could start locking 32 ETH in the Beacon Chains validator deposit contract, and longer still before the London hard fork introduced the concept of burning a portion of Ethereum transaction fees with EIP-1559.
A year later, the Merge further bent the curve of ether supply towards deflation, as it instantly reduced the rate of issuance the supply previously required, under proof-of-work, for the network to operate.
The purpose of EIP-1559 was not to reduce transaction fees, but for them to become more predictable and thereby make the fee estimation problem the problem of choosing the optimal gas price for a transaction as straightforward as possible, according to the December 2020 research paper by Tim Roughgarden detailing the concept.
For many ether holders, the more long-term ramification, however, may be the de facto supply cap, which was considered a side benefit at the time of its introduction.
Buried on page 52 of the 58-page paper, Roughgarden wrote, because burned fees are effectively a lump sum refund to ETH holders, the value of ETH would be tied directly to the intensity of network usage.
Three and a half years later, the price is about half what it was when the networks London hard fork took effect near the height of the previous bull market euphoria. But ethers supply has been undergoing deflation for 5 months straight, fueled by all kinds of network usage, from rollups to meme tokens.
On top of that, the amount of ether staked has been trending steadily higher, reaching an all-time high Thursday, with upwards of 566,000 validators.
Around 3,100 metric tons of gold will be mined in 2023, resulting in between 2-3% supply inflation.
Bitcoins inflation rate stands at 1.74%. Ethers supply, meanwhile, has fallen 1.07% since the burn began.
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Ethereum's Vitalik Buterin May Get His Way on Ether Supply Cap ... - Blockworks
Ethereum’s Unplanned Supply Ceiling: A Joke Turned Into Reality? – BeInCrypto
In the dynamic world of cryptocurrencies, a joke made in passing can sometimes shape the course of events. Just ask Elon Musk. This was the case when Ethereum co-founder Vitalik Buterin made an April Fools jest in 2018, suggesting an ether supply cap. At the time, it was dismissed as improbable.
Today, a blend of technology and circumstance has turned the prank into an unplanned reality, with the total ether supply seemingly capped. This unexpected shift has significant implications for Ethereums network, its users, and the broader crypto market.
In the annals of Ethereums history, Buterins 2018 proposal, made in jest, barely registered. However, the subsequent evolution of Ethereum has rendered this joke unexpectedly prescient.
Today, thanks to a confluence of technological advancements, Ethereums supply curve is experiencing a dramatic shift. The key players in this unexpected turn of events are the EIP-1559 burn mechanism and the impact of the Merge on Ethereums supply curve.
The Ethereum Improvement Proposal (EIP) 1559, a core component of the London hard fork, introduced a mechanism to burn a portion of the transaction fees. This unique feature has a profound impact on the supply dynamics of ether, Ethereums native token. By regularly burning ether, EIP-1559 effectively reduces the cryptocurrencys overall supply.
Simultaneously, Ethereums transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism, known as the Merge, has significantly altered the rate of new ether creation. In the PoW model, miners create new ether as they add transactions to the blockchain. The PoS model, however, drastically reduces this rate of new ether creation.
These technological advances have unintentionally led Ethereum towards a deflationary nature. Its a stark divergence from Buterins initial vision of minimum necessary issuance. Yet, its a change that could have profound implications for Ethereums future.
Ethers deflation has a ripple effect that extends far beyond the Ethereum network. As the total supply of ether diminishes, the tokens scarcity increases. Scarcity, as economic theory suggests, can drive up the value of an asset.
In the realm of cryptocurrencies, Ethereums unplanned supply cap invites comparison with Bitcoin, the largest cryptocurrency by market capitalization.
Bitcoin has a fixed supply limit of 21 million coins. Once these coins are mined, there will be no new bitcoins. Ethereums unplanned supply cap places it in a similar position, potentially boosting its allure as a store of value.
Moreover, this discussion wouldnt be complete without considering gold, the traditional hedge against inflation. Golds supply, like that of Bitcoin, is naturally capped. At some point, well run out of gold to be mined. This scarcity has been a key factor in its value proposition for centuries. Ethereums new deflationary status invites comparison with this timeless asset class.
The unexpected introduction of a supply cap to Ethereums ecosystem provokes speculation about the blockchains future. What can we expect as Ethereum continues to evolve? The implications are vast, presenting both challenges and opportunities for the network and its users.
One potential challenge lies in the networks transaction costs. As ether becomes more scarce, transaction fees may increase. Higher transaction costs could deter users, potentially limiting Ethereums growth. However, these concerns should be weighed against the potential benefits.
A capped supply could attract a new wave of investors, enhancing Ethereums market position.
Scarcity often increases an assets appeal. With an unintentional supply cap in place, ether becomes a more attractive investment. This could encourage more market participants, driving up demand and potentially boosting the tokens value.
However, this raises another question: Could Ethereums supply cap change its fundamental nature? Traditionally, Ethereum has been valued for its utility, particularly its smart contract capabilities. With a supply cap, it may evolve into a store of value, much like Bitcoin or gold.
As we ponder Ethereums future, its worth considering the broader ecosystem. Ethereum is the backbone of the burgeoning Decentralized Finance (DeFi) sector. The supply cap, therefore, has implications that extend beyond Ethereum itself.
DeFi projects often use ether as collateral. With a capped supply, the value of this collateral could increase, potentially boosting the value of the entire DeFi sector. On the other hand, increased transaction costs could make DeFi applications less accessible, potentially stifling innovation.
As we delve into the intricacies of Ethereums evolution, the cap on ethers supply represents a significant milestone. What began as a casual joke by Buterin has now morphed into a defining characteristic of ETHs economic model. The advent of EIP-1559 and the transition to a PoS consensus mechanism have inadvertently created a deflationary dynamic, with potential implications far beyond its native token.
In the broader landscape of cryptocurrencies, Ethereums unplanned supply cap adds another layer of complexity and intrigue. Comparisons with Bitcoin and gold have emerged, highlighting ETHs growing appeal as a potential store of value. Concurrently, the effect of this shift on the DeFi sector, largely built on Ethereums network, is an area of keen interest.
Yet, amid these transformations, challenges and opportunities coexist. Higher transaction costs could deter users, while the allure of a capped supply could attract new investors. Ethereums utility as a platform for decentralized applications could shift towards being a deflationary asset.
As Ethereum continues its journey, the story of its unplanned supply cap serves as a reminder of the crypto worlds unpredictable and dynamic nature. As observers and participants in this space, we can only anticipate, adapt, and learn.
Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content.
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Ethereum's Unplanned Supply Ceiling: A Joke Turned Into Reality? - BeInCrypto
Bitcoin or Ethereum: Which One Is Better? – Crypto Times
In the realm of cryptocurrency, Bitcoin and Ethereum stand out from others as they shine as the leading contenders for the top spot. Bitcoin is known for its store of value and hedge against inflation, Ethereum on the other hand , with its smart contract capabilities, have revolutionized the way we perceive and utilize blockchain technology.
These two giants have attracted the attention of both investors and enthusiasts, triggering a discussion about which one is the best. We set out on an exciting comparison journey in this article, investigating their unique features, use cases, and market dominance. Prepare yourself for the ultimate battle between Bitcoin and Ethereum and find out which cryptocurrency best fits your requirements and investment goals.
Bitcoin (BTC) is a decentralized cryptocurrency that functions independently of any individual, group, or entity as a form of payment and a store of value. This eliminates the need for financial intermediaries by offering a peer-to-peer electronic cash system.
A developer or group of developers staying anonymous using the alias Satoshi Nakamoto introduced it to the public in 2009
Since its inception, Bitcoin has gained worldwide recognition and encouraged the development of numerous other cryptocurrencies, some of which aim to compete with it as a payment system while others serve as utility or security tokens in emerging financial technologies and blockchain platforms.
Ethereum is a decentralized blockchain platform that goes beyond being just a cryptocurrency. It was proposed by Vitalik Buterin in late 2013 and officially launched in 2015. Similar to Bitcoin, Ethereum operates on a peer-to-peer network, but it offers more advanced functionality.
At its core, Ethereum enables the execution of smart contracts. Smart contracts are self-executing contracts with predefined rules and conditions encoded into computer code. They automatically execute transactions and agreements without the need for intermediaries.
Ethereum also has its own native cryptocurrency called Ether (ETH), which is used for various purposes within the Ethereum ecosystem. It serves as a means of exchange, fuels the network by paying for transaction fees, and incentivizes participants in the system.
Bitcoin:
Bitcoin blockchains decentralized and immutable nature increases its security. Since its inception in 2009, the Bitcoin network has a long-standing track record of zero security breech. The blockchains design and consensus algorithm (Proof-of-Work) have proven resilient against attacks, serving as ironclad security.
The POW consensus ensures that transactions are validated and added to the blockchain in a decentralized manner. The computational power required to participate in mining and the decentralized distribution of miners contribute to the security of the Bitcoin network.
Etherum:
Ethereums blockchain also employs strong security measures. However, with its transition from Proof-of-Work to Proof-of-Stake (Ethereum 2.0), it is expected to enhance scalability and energy efficiency. It is important to note that the transition is still ongoing, and as the network develops, its long-term security implications will be thoroughly evaluated.
In PoS, validators are selected to create new blocks and secure the network based on the number of coins they hold and are willing to stake. The PoS consensus mechanism reduces the networks reliance on computational power while still providing economic security, making it more difficult for attackers to compromise the network.
Bitcoin:
Bitcoins blockchain was designed with a block time of approximately 10 minutes, which means that it takes about 10 minutes for a new block to be added to the blockchain, including the confirmation of transactions within that block. However, in reality, the time for actual transaction confirmation can vary depending on network congestion and the inclusion of transactions in the next block.
Bitcoins limited transaction processing capacity is primarily attributed to its block size limit of 1 megabyte (MB), which limits the number of transactions. As a result, on average, Bitcoin can process only 3 to 7 transactions per second.
Ethereum:
Ethereum, on the other hand, has a block time of 15 seconds, which is significantly faster than Bitcoin. As a result, Ethereums design and flexibility give it an advantage over Bitcoin in terms of transaction processing capacity, as it can typically process 10 to 15 transactions per second (TPS). However, the transaction speed of Ethereum can be influenced by a number of factors. It varies depending on network congestion, gas fees, and the complexity of the transactions being performed.
It is important to note, however, that Ethereums block time has increased slightly as a result of network upgrades and scalability solutions. The introduction of Ethereum 2.0, as well as its transition to Proof-of-Stake (PoS) consensus, are expected to further improve scalability and transaction speeds.
Bitcoin:
Bitcoins Lightning Network is a layer-two scaling solution that aims to enable faster and cheaper transactions by facilitating off-chain transactions. It allows for a higher volume of transactions to be processed off the main Bitcoin blockchain, significantly increasing the potential TPS.
Ethereum:
Ethereum has been working on multiple scaling solutions, including layer-two solutions such as , optimistic rollups, zk rollups, side chins, state channels, plasma, and valadium. These solutions aim to process transactions off the main Ethereum blockchain, thereby reducing congestion and increasing TPS. Additionally, the upcoming implementation of Ethereum 2.0 with its sharding mechanism is expected to significantly improve scalability and increase the networks transaction processing capacity.
Bitcoin:
Bitcoin was primarily designed as a digital currency and store of value, with a focus on peer-to-peer transactions. While Bitcoin does support basic scripting capabilities, its scripting language is more limited compared to Ethereum.
Bitcoins scripting language allows for the implementation of simple, predefined conditions and transaction types, enabling functionalities such as multi-signature wallets and time-locked transactions. However, the scripting language in Bitcoin is intentionally constrained to prioritize security and reduce potential vulnerabilities.
Ethereum:
Ethereum, on the other hand, was designed specifically to support smart contracts. Smart contracts are self-executing agreements with the terms written into code. Ethereums blockchain is designed to execute these smart contracts, enabling the development programmable transactions.
Ethereums smart contract functionality is made possible by its Turing-complete programming language called Solidity. Solidity enables developers to create complex smart contracts with advanced logic and functionality. Ethereum smart contracts can be used for a variety of applications, including decentralised finance (DeFi), non-fungible tokens (NFTs), decentralised exchanges (DEXs), and more.
Bitcoin
Bitcoin, the first and most well-known cryptocurrency, continues to hold the title of largest cryptocurrency by market capitalization. Its strong brand recognition and widespread adoption have allowed it to dominate the cryptocurrency market. The market capitalization of Bitcoin has been in the hundreds of billions of dollars, peaking around $1 trillion in early 2021.
Ethereum
Despite being the second-largest cryptocurrency, Ethereum has a much lower market capitalization than Bitcoin. However, due to its smart contract capabilities and the popularity of decentralized applications built on its blockchain, Ethereum has seen significant growth in recent years. According to the Ethereum (ETH) price and charts from Kucoin, the current market capitalization of Ethereum is in the hundreds of billions of dollars, but it has not yet surpassed Bitcoins market capitalization.
Final Thoughts
Looking ahead, both Bitcoin and Ethereum hold tremendous potential. Bitcoin continues to solidify its narrative as a store of value and a hedge against inflation, appealing to investors diversifying their portfolios. Ethereum, with its ambitious vision, aims to become the foundation of a decentralized, trustless global financial system, disrupting various industries beyond finance.
As the crypto landscape evolves, innovation paves the way for new possibilities. Other cryptocurrencies and blockchain platforms continue to emerge, further expanding the horizons of decentralized finance and digital assets. Exciting times lie ahead as we witness the transformative power of cryptocurrencies, with Bitcoin and Ethereum leading the charge into the dynamic world of digital currencies.
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My Top 3 Cryptocurrencies to Buy in May – The Motley Fool
Against the backdrop of the domestic banking crisis and the potential for a U.S. debt default, some investors are now exploring cryptoas a potential safe haven asset to weather the economic storm. Such thinking would have been unimaginable just six months ago, when the common consensus was that "crypto winter" would extend into much of 2023.
But are any cryptos really safe to buy right now? And, if so, which ones should investors be thinking about adding to their portfolios this month?
First up is Bitcoin (CRYPTO: BTC), which is regaining its status as "digital gold" in the minds of many investors due to all the uncertainty in the market today. The correlation between Bitcoin and gold has been surging in recent months, and the growing consensus is that Bitcoin is probably the safest crypto to invest in right now. Of course, "safest" is a relative term, because we all know how risky and volatile Bitcoin can be. Last year, for example, the value of Bitcoin plummeted by nearly 65%.
But one factor in Bitcoin's favor is its long track record, which has made it a favorite of both retail and institutional investors. Bitcoin, which was created back in 2013, has survived several different market crashes over the past decade, and has emerged stronger each time. Bitcoin continues to offer tremendous upside potential, based on the pace of its international adoption as both a form of payment and a store of value.
In fact, Cathie Wood of Ark Invest has modeled the long-term growth potential of this crypto and concluded that Bitcoin could soar past the $1.48 million price mark by 2030. Less aggressive estimates have Bitcoin hitting the $100,000 mark by the end of 2024.Thus, from my perspective, Bitcoin offers the optimal blend of risk and reward of any top cryptocurrency.
Next up is Ethereum(CRYPTO: ETH), which is the second-largest cryptocurrency by market cap, trailing only Bitcoin. Ethereum offers investors a well-diversified ecosystem, with exposure to every key segment of the blockchain and crypto world. This includes non-fungible tokens (NFTs), decentralized finance (DeFi), and blockchain gaming. Thus, by holding Ethereum, you are diversifying away some of the risk of holding crypto in your portfolio.
Image source: Getty Images.
Most impressively, Ethereum continues to upgrade its blockchain, ensuring that it remains the premier Layer 1 blockchain in the world. Last year, for example, Ethereum completed The Merge. This technological upgrade helped to make Ethereum faster, more efficient, and more scalable. And it prepared Ethereum for the next wave of growth in the blockchain world. And then, in March of this year, Ethereum came through again with Shapella (also known as "Shanghai"), another major upgrade to secure its status as a premier blockchain.
And Ethereum shows no signs of stopping with future updates. Its founder, Vitalik Buterin, has already given investors a detailed roadmap for what's coming next in 2023 and 2024.The goal is to make Ethereum the highest-throughput, fastest, and most scalable blockchain in the world.
For the third pick, I would have to go with Solana(CRYPTO: SOL), an Ethereum competitor with an $8.15 billion market cap.This is one of the few blockchain projects with the potential to outperform both Bitcoin and Ethereum this year. Year to date, Solana is already up 107%, which is more than Bitcoin (65%) and Ethereum (53%).
While some might argue that this remarkable rebound in Solana is nothing more than a dead cat bounce after the FTX (CRYPTO: FTT) meltdown last year, there are several key steps that Solana has taken in 2023 that have me very optimistic about its future. One of these is the recent launch of Saga, the first-ever mobile phone by a major blockchain network. The Android-powered Saga has been described as a "crypto phone" due to its integration of crypto-friendly features. This mobile phone could be the key to Solana gaining a key foothold in the Web3 market, where Solana is preparing other initiatives.
If there's one cryptocurrency to buy first this month, it's Bitcoin. As noted above, this is the one crypto that offers the optimal blend of risk and reward. This is an especially important consideration, given the economic headwinds swirling around the market right now. Thus far, at least, Bitcoin has proven to be a safe haven asset worth holding at a time when America's regional banks seem to be failing on a frequent basis.
But if you're really looking to outperform the market, that's when it's time to explore the altcoins that are much smaller (and hence, much riskier) than either Bitcoin or Ethereum. My personal pick is Solana, which has already skyrocketed to triple-digit gains in 2023. Solana comes with its share of drawbacks -- such as continued concerns about network stability -- but is a blockchain that I think is building a long-term future in the crypto world.
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10 Interesting Blockchain Documentaries Everyone Should Watch … – Cryptopolitan
In the last decade, the world has witnessed an explosion of interest in cryptocurrencies, with Bitcoin leading the charge. At the intersection of finance, technology, and societal change, the blockchain revolution has spurred a wealth of discussions and debates.
However, understanding this complex and transformative technology can be challenging. Fortunately, several filmmakers have taken up demystifying cryptocurrency and blockchain technology.
Lets check out these top ten blockchain documentaries that have made significant strides in educating audiences about this digital revolution. The entries go into detail about the blockchain revolution, from its start with Bitcoin to the future of the internet and finance.
Picture this: A technology that has the potential to revolutionize the world of finance, data storage, and even the very way we communicate. Its called blockchain, and its not just a buzzword. As this groundbreaking technology continues to evolve, blockchain documentaries play a vital role in educating the public and sparking much-needed conversations.
Blockchain can seem like an enigmatic concept to many, but documentaries are an accessible medium for explaining complex ideas. Through interviews with experts, visual demonstrations, and real-life use cases, documentaries make blockchain technology tangible and relatable. By providing a window into the world of blockchain, these films offer insights that allow viewers to grasp the technologys significance and potential impact.
Blockchain documentaries serve as platforms to address misconceptions and debunk myths. With misinformation spreading faster than ever, these documentaries strive to set the record straight. By presenting accurate information, they counteract misconceptions surrounding blockchains potential, limitations, and security. This enables audiences to make informed decisions, fostering responsible adoption and development of the technology.
Another essential role that blockchain documentaries play is highlighting success stories and innovative projects. By showcasing the experiences of trailblazers who have harnessed the power of blockchain technology, these documentaries inspire and encourage others to explore its possibilities. By focusing on tangible outcomes, documentaries help demonstrate the potential of blockchain across various industries, from finance and supply chain management to data privacy and social networking.
Directed by David Foox, this 78-minute documentary journeys through the evolution of Bitcoin since its inception. It provides an in-depth look at the decentralized nature of cryptocurrency, discussing its potential impact on society and the traditional concept of trust. Featuring industry heavyweights like Charlie Shrem and Gavin Andresen, it is an essential watch for anyone interested in the socio-economic implications of digital currencies.
This 96-minute documentary by Nicholas Mross tells the story of a computer programmer who is fascinated with Bitcoin. The film takes viewers through the volatile world of Bitcoin, from its initial surge in popularity to the infamous Mt. Gox disaster. With key figures such as Roger Ver and Andreas Antonopoulos, the documentary paints a thorough picture of the early days of this revolutionary currency. It was released back in 2014 and is still considered as one of the best documentaries about Bitcoin to this date. You can stream it on Amazon Prime, Tubi, YouTube, Vudu, and Roku.
Bitcoin, And the Future of The Internet: Directed by Torsten Hoffmann and Michael Watchulonis, this 86-minute sequel to Bitcoin: The End of Money as We Know It explores blockchain, the revolutionary technology behind cryptocurrencies. The documentary delves into the potential effects of blockchain on society, economics, and the internet, providing insights into the future of digital transactions. This documentary is more recent, as it was released in 2020. It also features key figures in the crypto world, including Torsten Hoffman, Andreas Antonopoulos, and Vitalik Buterin.
The Bitcoin Revolution: In this 55-minute documentary, director Tim Delmastro ventures into the world of Bitcoin and its effect on the world economy. It breaks down Bitcoins potential to resolve global financial issues and provides expert commentary on the cryptocurrencys mysterious origins. The film is a comprehensive guide to understanding the potential of Bitcoin in the global financial landscape. It has a score of 6/10 on IMDB based on only 155 votes. However, most crypto enthusiasts consider it as a very informative documentary for new comers in the industry.
The Story of Blockchain: Directed by Alex Winter, this 84-minute film delves into the intricacies of blockchain, the technology underpinning cryptocurrencies. It discusses the potential of blockchain to revolutionize the internet, finance, and global governance, featuring Ethereum creator Vitalik Buterin and narration by Rosario Dawson. The documentary is a must-see for anyone looking to understand the transformative potential of blockchain technology. You can stream it on Apple TV, Pulito TV, Tubi, and Vudu.
This 39-minute documentary by Pl Karlsen takes the audience on a road trip across Scandinavia to explore the viability of Bitcoin as a digital currency in everyday life. Featuring a mix of Bitcoin enthusiasts and skeptics, the film provides a balanced view of the practical implications of using Bitcoin in daily transactions.
This is a rather short documentary of only 35 minutes and is directed by Tim Delmastro. It aims to simplify Bitcoin and blockchain technology for the average viewer. Bitcoin: Beyond the Bubble explores the evolution of money and the potential of Bitcoin to disrupt traditional financial systems. Overall, this documentary is an excellent starting point for viewers new to the world of cryptocurrency. You can stream it on various streaming platforms like YouTube, Apple TV, Tubi, and Amazon Prime.
Directed by Christopher Cannucciari, this 90-minute documentary provides a comprehensive overview of Bitcoins history and its pioneers. The film explores the ongoing battle between decentralized currencies and traditional financial institutions, highlighting the ideological and political stakes involved in this technological revolution. Without a doubt, it is one of the most popular blockchain documentaries featuring various experts. It is available for streaming on Tubi, Vudu, Amazon Prime, and YouTube.
This 48-minute documentary by Hans Busstra delves into the potential of Bitcoin to render banks obsolete. It features Roger Ver, a prominent Bitcoin evangelist, and explores the potential of cryptocurrency to create an entirely new financial system. This documentary serves as a fascinating exploration of the radical potential of digital currencies.
This 14-minute episode is a part of the broader Explained series and serves as a comprehensive beginners guide to the complex world of cryptocurrency. It succinctly explores the origin of Bitcoin, the potential of cryptocurrencies, and the challenges they face. The episode features various experts and commentators, providing viewers with a balanced perspective on the potential and pitfalls of digital currencies. Notable for its clear explanations and high-quality production, this Netflix episode is a great starting point for anyone interested in understanding the basics of cryptocurrency. This brief, yet informative episode stands as a testament to the increasing mainstream recognition and importance of cryptocurrencies in the world economy.
Imagine the transformative power of storytelling in driving innovation and promoting the widespread adoption of emerging technologies. In the case of blockchain, documentaries serve as crucial tools that not only educate the masses but also inspire them to embrace and integrate this groundbreaking technology into their lives. Here are several ways blockchain documentaries can fuel the adoption of this revolutionary technology.
Documentaries demystify complex concepts and make them accessible to a broader audience. Using clear explanations, expert interviews, and visual demonstrations, filmmakers present the intricate workings of blockchain in a way that is engaging and easy to understand. This approach lowers the barrier to entry and helps potential users feel more confident about exploring blockchain technology and its applications.
By showcasing real-world success stories, documentaries provide tangible proof of the impact that blockchain technology can have across various industries. Through the lens of inspiring individuals and innovative projects, viewers can see the transformative effects of blockchain on finance, supply chain management, data privacy, and many other sectors. By providing concrete examples of the technology in action, documentaries give audiences a glimpse into the potential benefits of adopting blockchain solutions.
Blockchain documentaries encourage critical thinking and foster a spirit of curiosity. They stimulate thought-provoking discussions and debates by presenting differing opinions and perspectives. As a result, audiences are more inclined to research further, engage in conversations, and contribute to the development of blockchain technology. This increased engagement promotes a collaborative environment that accelerates the adoption of new ideas and applications.
The world of cryptocurrency and blockchain technology is expanding at an unprecedented rate, and these documentaries provide a window into its evolution, challenges, and potential. While the technologys volatility and complexity can be daunting, these films break down the concepts into digestible pieces, offering viewers a deep understanding of the crypto landscape.
Whether youre a seasoned crypto enthusiast or a curious beginner, these documentaries offer invaluable insights into the world of digital currencies.
As we stand on the brink of this digital revolution, educating ourselves about these technologies becomes not just a matter of interest, but a necessity. So, grab some popcorn, sit back, and dive into the fascinating world of Bitcoin and beyond.
In addition to documentaries, you can deepen your understanding by reading books, articles, and blogs on blockchain and cryptocurrencies, listening to podcasts, attending webinars, and joining online forums or communities.
While documentaries provide valuable information, it's essential to note that they don't offer personalized financial advice. Before investing in cryptocurrencies, consider conducting thorough research, consulting with a financial advisor, and understanding the risks involved.
You can contribute by sharing your knowledge with others, participating in online forums or communities, attending blockchain events, and supporting projects that align with your values.
Some documentaries discuss popular blockchain platforms like Ethereum, which supports smart contracts and decentralized applications. Other platforms mentioned may include Ripple (XRP), Litecoin (LTC), and privacy-focused cryptocurrencies like Monero (XMR) and Zcash (ZEC), among others.
While most documentaries strive for accuracy and unbiased presentation, it's essential to critically evaluate the information presented. Cross-check facts, consider different perspectives and stay open to the possibility of misinformation or outdated information.
Many documentaries discuss the energy consumption and environmental impact associated with cryptocurrency mining, particularly Bitcoin. They explore potential solutions, such as adopting energy-efficient consensus algorithms like Proof of Stake (PoS) or incorporating renewable energy sources to power mining operations.
To verify the credibility of experts and industry leaders, research their backgrounds, qualifications, and experience. Look for their online presence, such as social media profiles, personal blogs, or podcasts, to evaluate their contributions to the blockchain and cryptocurrency community.
The frequency of new blockchain documentaries varies, but as the technology continues to evolve and gain mainstream attention, filmmakers and producers are increasingly interested in covering this subject.
While some documentaries touch on legal aspects, few focus solely on this topic. As regulations and legal frameworks surrounding cryptocurrencies and blockchain continue to evolve, it's likely that future documentaries will delve deeper into these subjects.
To support filmmakers and their projects, consider purchasing or renting the documentaries instead of solely relying on free streaming platforms. Share the documentaries with your friends, family, and online communities to increase their visibility.
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10 Interesting Blockchain Documentaries Everyone Should Watch ... - Cryptopolitan
These are the Catalysts that Could Launch Shiba Inu to $0.001 – The Crypto Basic
The Shiba Inu community continues to champion the narrative of a $0.001 price point for the asset, but this goal would be unfeasible without these catalysts.
Shiba Inu (SHIB) remains in the clutches of the bears, much like most cryptocurrencies. However, the asset has its eyes set on the ultimate goal of $0.001 which would mark a 11,173% increase from its current price of $0.0000887. While this seems like a long shot, the Shiba Inu community believes it is feasible.
Nonetheless, an assets price movement is not anchored on belief, but its tokenomics and the laws of economics. Consequently, Shiba Inus $0.001 price goal is contingent on two catalysts: burns and utility.
An assets supply is one of the major factors that determine its value. For Shiba Inu to hit a price of $0.001, its supply needs to reduce drastically. At the current circulating supply of 574.2 trillion, if Shiba Inu were to hit $0.001, its market cap would surge to $574.2 billion. For context, Bitcoin, the largest crypto asset, has a market cap of $518.4 billion.
Such a surge would make SHIB the biggest asset by market cap. The chances of this happening in the foreseeable future are rather low. A solution to the assets supply problem is token burns. SHIB would not have attained its all-time high if not for the 410 trillion token burn carried out by Vitalik Buterin in May 2021.
The Shiba Inu community remains committed to the projects burn campaign, but the current burn rate is unlikely to make a dent on its extensive supply. One of the largest cumulative intraday burns involved 2.25 billion SHIB in 24 hours on May 3. Even if the community incinerates 2.25 billion tokens every day, it would take 90 years to take out 74 trillion SHIB.
Besides burns, an assets utility can help with its price action. Utility refers to the usefulness of an asset beyond its ability to be bought, sold, and traded on an exchange. When an asset is leveraged for its real-world utility, like being used as payment for goods and services, it can help bolster adoption by attracting demand.
Shiba Inu already has utility beyond its speculative value. The asset has been adopted by numerous platforms as a payment method. Its integration in Binance Pay also helps introduce it to multiple e-commerce stores and merchants. However, the community seeks more.
It has been established that Shiba Inu would need to increase its burn rate and attract more utility to get a shot at hitting $0.001. This target is achievable with the introduction of several projects in the ecosystem, including Shibarium and SHIB: The Metaverse.
Shibarium is expected to introduce more utility to the Shiba Inu ecosystem by attracting projects all the while increasing its burn rate by incinerating SHIB with 70% of every base transaction fee. The Metaverse project is also expected to bring up more utility for Shiba Inu and further accelerate adoption.
Conclusively, a $0.001 price target might look difficult for SHIB to attain, but it is not impossible. The asset surged by over 142,000% from a value of $0.0000000605 in March 2021 to its ATH of $0.00008616 in October 2021. This surge was supported by the 410 trillion token burn. An 11,275% increase in the event of subsequent burns is feasible.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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These are the Catalysts that Could Launch Shiba Inu to $0.001 - The Crypto Basic
Multisig Wallet: The Future of Secure Crypto Transactions – Crypto Times
With the rise in digital assets, there is a dire need to secure your crypto funds and transactions with secure technology like Multisignature (Multisig) wallets to prevent vulnerability and the possibility of a hack. Multisig Wallets are a ray of hope for fortifying the DeFi ecosystem. But unfortunately, many digital wallet service providers have been unable to keep up with the demand for security, leaving users funds vulnerable to theft or fraud.
By implementing multisig technology, users can have greater peace of mind knowing that a robust and reliable system protects their digital assets. Recently, Ethereum co-founder Vitalik Buterin has emphasized the self-custody of funds through Multisig wallets and Social Recovery wallets to ensure the safety of funds.
So, without any further ado, lets go straight to the topic.
A multisig wallet, also known as a multi-signature wallet, is a cutting-edge digital wallet that offers unparalleled security for storing and transacting various digital assets, including cryptocurrencies, stablecoins, and non-fungible tokens (NFTs). Unlike traditional wallets that require only one private key to sign and execute transactions, a multi-sig wallet requires multiple private keys to authenticate and complete transactions.
The added layer of security ensures that even if one of the wallets or private-key is compromised, the wallets funds remain safe and secure. Simply put, a multi-sig wallet is a single locker with multiple keys to access what is locked inside.
The process to initiate a transaction with a multisig wallet follows the same steps regardless of the type of solution chosen. Simply input the transaction details into your wallet and sign it using your private key. Easy peasy, right? But heres where things get really interesting: your transaction wont be fully completed until all the required keys are submitted. Thats right, its a team effort!
So what are you waiting for? Start using a multi-sig wallet today following the steps given below to execute transactions through a multi-sig wallet.
Step 1: Set Up the Wallet
To start using a multi-signature wallet, you first need to create the wallet and add the co-signers who will have to approve any transactions.
Step 2: Create a Transaction
When you want to send cryptocurrency from your multi-signature wallet, you create a transaction in the same way as you would with a regular wallet. You will need to specify the amount you want to send, the recipients address, and any other details required by the wallet provider.
Step 3: Require Signatures
When creating the transaction, you also specify the number of signatures required to approve the transaction. For example, you may require two out of three co-signers to approve the transaction before it can be processed.
Step 4: Sign the Transaction
Once the transaction is created, it will be sent to all co-signers for approval. Each co-signer will need to sign the transaction using their private key. The wallet provider will then combine the signatures and check that the required number of signatures have been obtained.
Step 5: Broadcast the Transaction
Once the required number of signatures have been obtained, the transaction can be broadcast to the network and processed. The recipients address will receive the cryptocurrency, and the transaction will be recorded on the blockchain.
Step 6: Verify the Transaction
Each co-signer will receive a notification that the transaction has been processed. They can verify that the transaction was completed correctly and that the correct amount was sent to the correct address.
There are two terminologies used to define the types of multi-sig wallets.
N-of-n refers to the requirements of all private keys to authenticate and approve a transaction. For example, 2-of-2 multi-sig wallets require two private keys, the total number of keys to building a wallet.
N-of-m multi-sig wallets do not require all private keys but only need the threshold number of keys to execute transactions. For example, 2-of-3 muli-sig wallets only need two private keys out of three to process the transactions.
Also Read: Crypto Wallets: All You Need To Know About Their Types
There are three ways you can set up your multi-sig wallet and you can use any one of these.
Its important to note that the specifics of creating a multi-sig wallet may vary depending on the wallet software you choose. So make sure to read the documentation or instructions carefully to ensure you are setting up the wallet correctly.
One can reap given benefits from using multi-sig wallets,
Compared to hot wallets, multi-sig wallets are safer when securing transactions and digital assets.
Multi-sig wallets are highly accessible as one can operate from any device, like a laptop or phone. Moreover, they can sign transactions within seconds by entering their private keys manually or inserting keys where it held.
Multi-sig wallet enables 2-factor authentication as more than one private key is required to execute the transaction. That means no single entity can take control of a wallet or transfer addresses in case of a cyber attack.
With the rising number of scams and fraud, multi-sig wallets can restore trust in big institutions like crypto exchanges. By splitting the private keys into different entities, these institutions can assure customers or investors that their funds are safe.
Multi-sig wallets can use smart contract capability to proceed with escrow transactions, enabling different parties to execute their transaction safely and securely by setting some conditions.
For example, suppose someone orders three sets of shoes from a particular brand. The escrow transactions will automatically execute once they receive the order.
As every coin has two sides, so do multi-sig wallets.
Setting up and maintaining multi-sig wallets could be an ordeal for those using them for the first time. In addition, since multi-sig wallets require multiple signatures, there are more steps involved in authorizing a transaction; this can make the process more complex and increase the risk of user error.
Another major flaw in multi-sig wallets is the higher fees, as multiple signatures are required, and each signature adds to the transaction fee.
As different parties are involved in signing transactions, sometimes it could be delayed because of the unavailability of one of the participants. Also, Multisig wallets can take varying amounts of time to complete a transaction, ranging from a few hours to several days.
Factors such as the number of signatories required and geographical restrictions can influence the transaction duration and limit their use. Due to these limitations, there may be more convenient options for urgent or regular payments than multi-sig wallets.
Multisig wallets take longer and require more coordination to recover funds compared to single-key storage. N-of-N setups also lack a backup or recovery solution in case one signer is unavailable. Choosing a third-party custodian for a multi-sig wallet poses the risk of a security breach that could have serious consequences.
Finding the best multi-sig wallet is like finding a needle in a haystack. To simplify users choices, here are some best multi-sig wallets.
Armory is one of the oldest and most highly secured multi-sig wallets allowing users to control their private keys without relying on third-party servers. Armory is an open-source wallet with cold storage and multi-signature support. However, it could be complex for newbies as it requires a local copy of the blockchain to be on the same machine.
The leading crypto exchange, Coinbase, also provides multi-sig wallets as a hosted wallet model. Instead of users, Coinbase controls the private key on behalf of users. To fortify network security and as a centralized entity, Coinbase uses real-world identity.
Regarding Multisignature vaults, they do not provide insurance because they cannot have complete control over your coins in that way. Instead, they offer various combinations to their multi-signature addresses.
Coinbase uses a 3-key system, consisting of a Coinbase key, a user key, and a shared key, to give you control over your funds. In addition, Coinbase allows up to three authorizers to sign a Bitcoin transaction using a 3-of-3 authorization system.
The most commonly used desktop wallet is Electrum, which offers features like cold storage and multi-signature capabilities. Electrum is an open-source project released under the MIT license, which allows anyone to run a Bitcoin node using Electrum without a single point of failure.
Moreover, Electrum is the first wallet to use Simple Payment Verification (SPV), a method described by Satoshi in his whitepaper. As it only downloads the header for each block, it is faster than a web wallet yet still more secure.
Wrapping Up:
In conclusion, as cryptocurrency and DeFi continue to expand, the need for solid security measures becomes increasingly vital. Multi-sig wallets provide an extra layer of protection against cyber attacks and unauthorized access, thus making them a reliable option for safeguarding users funds.
By implementing multi-sig wallets, the cryptocurrency industry can enhance security standards and increase confidence among users, which can ultimately drive the growth and adoption of DeFi infrastructure. Therefore, multi-sig wallets should be considered a crucial element in the development and sustainability of the cryptocurrency ecosystem.
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Multisig Wallet: The Future of Secure Crypto Transactions - Crypto Times
Shaking Things Up: How the Ethereum and Bitcoin Price Quake … – Analytics Insight
Bitcoin (BTC), Ethereum (ETH) and other major cryptocurrencies have continued their impressive performance into 2023, despite Ethereum founder Vitalik Buterin sounding a cautionary note on the markets bull run. The price of bitcoin surged above $30,000 per coin last month, leading to some lofty price predictions. The price of Ethereum also climbed higher, thanks in part to a long-awaited upgrade. With both cryptocurrencies showing strength, traders are closely monitoring two key events in the US: the Federal Reserves decision about the next interest rate and the upcoming debt ceiling crisis. Treasury Secretary Janet Yellen recently warned that the US could run out of cash as early as June 1 if the debt ceiling isnt raised. However, a new meme coin Dogetti (DETI), is concluding its presale on June 30, giving investors the last chance to make big money by investing at the right time.
Geoff Kendrick, head of foreign exchange research at Standard Chartered, believes that in the event of a US debt default, Bitcoin (BTC) could potentially gain $20,000, pushing it to approximately $50,000 per coin. He cautioned, however, that this is a low-probability, high-impact event that would cause the bitcoin price to swing wildly, with initial declines on day one or day two or within the first week. According to Kendrick, the best trade would likely be a long position in Bitcoin and a short position in Ethereum.
Yellen wrote to congressional leaders warning that the US could run out of funds as early as June 1 if the debt limit isnt raised, a scenario that could cause global market turmoil and have ripple effects throughout the economy. Meanwhile, the Federal Reserve is expected to raise interest rates by a quarter of a percentage point, marking its 10th consecutive rate hike and bringing the benchmark interest rate to 5% to 5.25%, the highest since 2006. Antoni Trenchev, co-founder and managing partner at crypto lender Nexo, believes that investors are intently focused on the Feds actions, and if it indicates that it will continue raising rates, it could spell trouble for cryptocurrencies and other high-risk assets.
Altcoins, step aside theres a new meme-inspired cryptocurrency on the block called Dogetti (DETI). This digital currency is based on the famous Shiba Inu internet meme, and its quickly gaining traction among investors who want a more entertaining and user-friendly way to enter the world of cryptocurrencies.
Dogetti has taken meme coin culture to the next level by building a brand around the concept of togetherness and community. This idea of community is whats driven meme coins to previous heights of success. Dogetti operates on a decentralised blockchain network, ensuring that all transactions are securely recorded on the blockchain for safe and sound investments.
Dogettis primary goal is to power the DogettiSwap platform, which enables users to exchange ERC20 tokens for a 6% tax. However, the fee is put to good use. Two percent goes towards a charity wallet, another two percent is shared among all wallets, and the remaining two percent enhances liquidity.
Dogettis playful and amusing approach is ideal for newcomers who want to explore the world of cryptocurrencies. With its active community and robust social media presence, youll have many chances to engage and connect with like-minded investors.
In a market dominated by well-established cryptocurrencies such as Bitcoin and Ethereum, Dogetti (DETI) has emerged as a new player. This meme-inspired cryptocurrency has quickly gained attention and popularity among investors who are looking for a fun and user-friendly way to enter the world of cryptocurrencies. If youre looking for a fun and thrilling way to participate in the cryptocurrency market, Dogetti may be the perfect coin for you. This is an investment opportunity you dont want to miss.
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_
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Shaking Things Up: How the Ethereum and Bitcoin Price Quake ... - Analytics Insight
Ethereum-Linked to Vitalik Buterin Move, is a Selloff Incoming? – CoinGape
Ethereum (ETH), the second-largest cryptocurrency by market capitalization has been the subject of much discussion lately due to its ongoing link to its creator, Vitalik Buterin. Buterin has been an important figure in the blockchain world since he co-founded ETH in 2014, and his influence over the direction of the project can not be understated. As such, any news related to Buterin and Ethereum tends to cause a stir among investors and traders alike.
According to a May 10 tweet by Lookonchain, 0xD04d a wallet address linked to Vitalik Buterin transferred 3,500 ETH worth about $6.56 million to another address 0x9e92 in its last tranche of transfer to the wallet address.
Additionally, the information also reveals that the Buterin-linked wallet has since December 2022 made a total transfer of 17,800 ETH amounting to about $33 million.
Recently, there have been rumors circulating that Buterin is planning to sell a significant portion of his ETH holdings, which could have a major impact on the market. For one, it is not clear whether Buterin is actually planning to sell any of his Ethereum holdings.
While there have been rumors to this effect, there has been no official confirmation from Buterin or the Ethereum Foundation. Likewise, even if the founder was to sell some of its ETH, it is not clear how much of an impact it would have on the market.
Recall that a few days ago, Ethereum Foundation and Buterin moved over 15k ETH to Kraken. This move raised FUD in the crypto community with many thinking that an ETH price and meme coins crash could be coming.
Earlier in March Vitalik sold most of the shitcoins in his wallet prompting the coins including MOPS, CULT, and SHIK amongst others to get rekt. Vitaliks action was criticized by crypto Twitter as the community argued that the selloff impacted the low-value projects and the investors who owned them
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Ethereum-Linked to Vitalik Buterin Move, is a Selloff Incoming? - CoinGape
Privacy Is the Achilles Heel of Ethereum – OODA Loop
In the ever-evolving cryptocurrency industry, Ethereum has emerged as a pioneering force. Its revolutionary approach to smart contracts and decentralized applications (dApps) has set a precedent for other blockchain networks. Yet, amid all the groundbreaking innovations, Ethereum grapples with a serious concern that could undermine its potential: privacy.The concept of privacy in the context of blockchain technology is complex. Even Ethereums founder Vitalik Buterin maintains that privacy is one of the biggest challenges for the network.The status quo involves putting large amounts of information on-chain, which is something that is fine until its not, and eventually will become unpalatable if not outright risky to more and more people, said Buterin.Ethereum privacy is a multifaceted issue encompassing several principles, not simply keeping user data hidden. These include user control and consent, minimal disclosure, security assurance, identity protection, and trustless validation.Each of these principles presents its own set of challenges in the current Ethereum structure.
Full story : Privacy Is the Achilles Heel of Ethereum.
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