Fintech news - Fintech News. Online news ✅ by @dTechValley

Ethereum could top $14,000 next year alongside Bitcoin boom

Horacio — Tue, 19 Mar 2024 19:48:19 +0000

Spot Ethereum ETFs should get the green light by May, and the bank says the asset will only go up from there.

By Mat Di Salvo

British multinational Standard Chartered isn’t just bullish on Bitcoin—Ethereum is also going to the moon, its analysts say.

A Monday report from the bank claimed that the second-biggest digital asset could hit $8,000 by the end of this year, and $14,000 is possible by the time 2025 is up.

If, that is, spot Ethereum exchange-traded funds (ETFs) get approved, Geoffrey Kendrick, head of forex and crypto research at the firm, said in the note.

The price of Ethereum is currently hovering slightly above $3,500 per coin, CoinGecko data shows.

Several high-profile fund managers have filed paperwork with the Securities and Exchange Commission (SEC) to release Ethereum ETFs. Such investment vehicles would expose traditional investors to the cryptocurrency via shares that trade on a stock exchange.

Kendrick also said that the network’s recent Dencun upgrade could be the reason for Ethereum shooting up rapidly.

The network behind the second-biggest cryptocurrency was upgraded last week. Developers say the improvement will make transaction fees on the blockchain super cheap.

Kendrick added that the upgrade and lower costs on the network make Ethereum “more competitive.”

Standard Chartered said in a different research note Monday that Bitcoin could hit $150,000 per coin by the end of this year if the newly approved ETFs continue to be popular.

In January, the U.S. Securities and Exchange Commission approved 11 of the investment vehicles.

They have so far been hugely popular with investors—and the massive inflows have pushed the price of Bitcoin up significantly.

Link: https://decrypt.co/222258/ethereum-headed-for-14000-in-2025-alongside-bitcoin-boom-standard-chartered

Source: https://decrypt.co

The post Ethereum could top $14,000 next year alongside Bitcoin boom appeared first on Fintech News.

PayRetailers Arg S.R.L. Recognized as a Payment Service Provider (PSP) Aggregator by Central Bank of the Argentine Republic

H. — Tue, 19 Mar 2024 16:21:36 +0000

Spain, 19^th March 2024 – PayRetailers Arg S.R.L. is pleased to announce its successful registration as a Payment Service Provider (PSP) in the Aggregator function with the Central Bank of the Argentine Republic (BCRA). This significant milestone marks a pivotal moment in the company’s journey, allowing it to expand and enhance its local operations in alignment with BCRA regulations, reinforcing its unwavering commitment to transparency and trustworthiness.

Alejandro Dall’Ava, Country Manager in Argentina, says: “We are proud to announce our official recognition as a Payment Service Provider (PSP – Aggregator) in Argentina. This distinction reflects our ongoing commitment to excellence and security in the financial services industry. With this certification, we are poised to deliver advanced and reliable payment solutions that will drive growth and innovation in our market.”

This recognition enables PayRetailers to continue providing exceptional service to clients and partners alike, creating an environment for businesses across various sectors to thrive.

About PayRetailers

Founded in 2017, PayRetailers has established itself as a leading global provider of online payment services with a focus on Latin America & Africa. The company’s mission is to offer comprehensive payment solutions for e-commerce, covering the entire process of cross-border transactions without the need for a local entity. Through a direct API, an advanced technological platform, and commercial agreements, PayRetailers provides global merchants with access to over 250 local payment methods in Latin America & Africa. Their proprietary technological architecture is highly flexible and scalable, allowing them to innovate rapidly to meet the ever-evolving market demand.

Based in Spain, with strategically located regional offices in Argentina, Brazil, Chile, Colombia, Mexico, Costa Rica, Peru, Bulgaria, and the Isle of Man, PayRetailers positions itself as a trusted partner for businesses looking to expand into Latin America, Africa, and beyond, while maximizing their growth potential.

For media inquiries:

María José Naya

mariajose.naya@payretailers.com

The post PayRetailers Arg S.R.L. Recognized as a Payment Service Provider (PSP) Aggregator by Central Bank of the Argentine Republic appeared first on Fintech News.

Why Solana will prevail despite Ethereum ETFs

Horacio — Tue, 19 Mar 2024 10:47:12 +0000

Ethereum may have spot ETFs in a few months, but Solana has superior speed and UX design. Its market dominance is inevitable.

Many investors have begun to speculate that many altcoins will also have ETFs, which has led to price appreciation and a lot of speculation. But all the enthusiasm has led many to overlook an obvious contender to Ethereum — Solana SOL$110, which has beat many expectations and continues to boast a sophisticated tech team.

There has been no shortage of stories talking about Solana and its links to FTX founder Sam Bankman-Fried, with many predicting its demise. However, Solana has weathered the storm according to a handful of metrics. For instance, the number of active addresses on the network has nearly reached its 2022 level. The number of new addresses has continued to grow at almost as fast a rate as it was in 2022 as well. In fact, the number of unique active wallets (UAW) is up from 2022.

And that’s not to mention the reality that active addresses can be manipulated. An alternative metric, namely capital efficiency (i.e., decentralized exchange volume per dollar of total value locked), suggests Solana has outpaced Ethereum in recent months.

Unique active users, volume and transactions on Solana from January 2021-24. Source: dAppRadar

To be sure, Solana isn’t operating perfectly, but it has clearly defied the expectations of many who thought it might collapse following the FTX blow-up. A large part of its recovery after FTX, and growth since then, has been driven by seemingly wise leadership, which in turn affects their technological investments, strategy, and ultimately community engagement.

Time-value locked (TVL) on Ethereum, Solana and others. Source: DeFi

The blockchain technology landscape, particularly at the layer-1 (L1) level, currently falls short of the transformative financial future many envisioned. While the initial promise of blockchain offered a vision of faster, cheaper, more efficient, and censorship-resistant financial systems, the reality today presents significant challenges.

Key Solana statistics. Source: HelloMoon

The L1 landscape is characterized by fragmentation of liquidity across a range of layer-2 solutions (L2s) and an absence of scalability that hampers efficiency and user experience in the decentralized exchange space, coupled with concerns about the degree of centralization in the centralized exchange space. This fragmentation has led to a piecemeal ecosystem where the seamless integration and interoperability necessary for a truly revolutionary financial system remain elusive. As a result, the blockchain community finds itself at a crossroads, seeking solutions that can fulfill the early promises of this technology.

Efforts to scale blockchain technology today are diverse, with each project taking a unique approach to overcome limitations in speed, efficiency, and interoperability. The Ethereum blockchain, for example, is pursuing a multi-layer strategy, incorporating both layer-2 scaling solutions and sharding to increase transaction throughput without sacrificing security.

Meanwhile, projects like Cosmos ATOM $11.11 and Polkadot $8.06 are exploring a multi-chain architecture that allows for specialized blockchains to communicate and transact seamlessly. Solana, along with newer entrants like Sui and Aptos, proposes an alternative approach, focusing on high throughput and efficiency at the layer-1 level itself. Each of these approaches represents a different path towards achieving scalability, with their own set of trade-offs between decentralization, security, and performance. The variety of solutions underlines the complexity of the scalability challenge and the blockchain community’s commitment to finding a way forward.

Solana stands out for its unique approach to addressing the core issues plaguing the blockchain ecosystem and its robust community support — evidenced by its resilience post-FTX and the success of its global hackathons, which underscore the platform’s strong foundation. And significant UX improvements, notably with mobile integration through Saga phones and competitive platforms like Jupiter — which rivals Uniswap — make Solana highly accessible.

Solana has also demonstrated its ability to handle finance at scale, offering 400ms block times for finality compared to Ethereum’s longer durations, along with initiatives like Firedancer and local fee markets, further exemplify Solana’s technological edge. The platform’s emphasis on seamless transactions without the need for bridging or dealing with fractured liquidity, coupled with its application in real-world solutions like decentralized physical infrastructure (DePIN), positions Solana as a leader in the blockchain space.

That’s not to say that Solana is guaranteed to surpass Ethereum, or even Bitcoin, but it does mean that Solana is no longer an underdog. And perhaps before any altcoin gets a spot ETF, Solana will have one of its own that will bring greater competition to the blockchain space.

Link: https://cointelegraph.com/news/solana-will-prevail-despite-ethereum-etfs?utm_source=pocket_saves

Source: https://cointelegraph.com

The post Why Solana will prevail despite Ethereum ETFs appeared first on Fintech News.

Fintech Outsourcing Mexico: Cynergy BPO – Revolutionizing Customer Support through advanced Tech

H. — Tue, 19 Mar 2024 08:30:07 +0000

In an era where the fintech industry burgeons across borders, redefining the essence of financial transactions and customer engagements, Mexico has emerged as a crucible for innovative customer support solutions. Amid this transformative landscape, Cynergy BPO, a distinguished advisory firm, has positioned itself at the vanguard, orchestrating a revolution in fintech customer support outsourcing to Mexico through the infusion of advanced technology. This narrative is not merely about outsourcing; it’s about reimagining how fintech companies interact with their customers, making every touchpoint an opportunity to build trust and loyalty.

Cynergy BPO’s strategic advisory services have become a cornerstone for fintech players looking to transcend traditional customer care paradigms. By leveraging Mexico’s burgeoning outsourcing sector, known for its technological agility and deep customer service ethos, the company has enabled fintech firms to harness cutting-edge technologies that redefine customer interactions. The firm’s role transcends mere consultation, evolving into a partnership that navigates the complex landscape of tech-driven customer support with precision and foresight.

John Maczynski, CEO of Cynergy BPO, encapsulates their mission with a vision that is both bold and transformative. “Our goal is to elevate fintech customer support outsourcing to Mexico from a functional necessity to a strategic asset. Through our advisory services, we’re not just connecting fintech firms with industry-leading contact centers; we’re enabling them to leverage technologies that transform customer interactions into memorable experiences,” he states.

Central to this revolution is the strategic deployment of technologies such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). These technologies are not mere tools but the backbone of a customer support strategy that anticipates needs, personalizes interactions, and solves complex issues with unprecedented efficiency. Cynergy BPO guides fintech companies to Mexican BPO providers that specialize in the fintech sector and utilize cutting-edge technologies, ensuring that the customer support they offer is not just responsive but also predictive and engaging.

Ralf Ellspermann, CSO of Cynergy BPO, highlights the transformative impact of artificial intelligence. “Imagine a customer support experience that’s not only seamless but also deeply personalized, thanks to AI’s predictive capabilities. Or a conversation with a chatbot so fluid, thanks to NLP, that it feels unmistakably human. This is the future we’re building through our partnerships in Mexico,” he explains.

The Latin American nation stands out as an ideal destination for such innovation, not only because of its technological infrastructure but also due to its cultural and linguistic alignment with key markets, notably the United States. This synergy between technology and human insight, powered by a workforce that is both highly skilled and empathetic, sets Mexico apart as a powerhouse for next-generation fintech customer support.

The impact of Cynergy BPO’s approach is profound, extending beyond operational efficiency to drive customer loyalty and brand differentiation in a highly competitive fintech landscape. By embedding advanced tech into every aspect of customer care, fintech companies can achieve a level of service that anticipates customer needs, addresses them proactively, and creates a seamless, engaging customer journey.

“As fintechs continue to navigate the challenges of digital transformation, our advisory services provide them with a roadmap to excellence in customer support,” Maczynski reflects. “Through our partnership with Mexico’s premier BPO providers, we’re not just revolutionizing customer support; we’re helping fintech enterprises unlock new levels of customer satisfaction and loyalty.”

In this narrative of innovation and partnership, Cynergy BPO emerges not just as an advisor but as a visionary force, steering the fintech industry toward a future where technology and human insight converge to create unparalleled customer experiences. Through its pioneering approach, the advisory firm is not only revolutionizing fintech customer support in Mexico but also setting a new benchmark for the global fintech outsourcing industry.

The post Fintech Outsourcing Mexico: Cynergy BPO – Revolutionizing Customer Support through advanced Tech appeared first on Fintech News.

The fusion of AI and Blockchain in Cryptocurrencies

Horacio — Tue, 19 Mar 2024 08:22:56 +0000

In the dynamic world of technology, the convergence of Artificial Intelligence (AI) and blockchain stands as a beacon of innovation, particularly in the cryptocurrency sector. This fusion is not just a mere combination of two technologies; it’s a synergy that is reshaping the very foundation of digital finance.

Blockchain and AI

Blockchain and AI represent two of the most significant technological advancements of our era, each with its distinct characteristics and applications, especially in the world of cryptocurrencies like Bitcoin and Ethereum.

Blockchain Technology: At its core, blockchain is a distributed ledger technology, but it extends far beyond the realm of digital currencies. It creates an immutable chain of records, known as blocks, linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data, which ensures transparency and security in digital dealings. This system is decentralized, meaning it doesn’t rely on a central authority, thereby reducing risks related to central points of failure. Its applications are diverse, ranging from supply chain management to voting systems, reflecting its potential to revolutionize various industries by providing a secure and transparent way of recording transactions and managing data.

Artificial Intelligence (AI): AI, on the other hand, is a broad field of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. It encompasses various technologies including machine learning (ML), where algorithms improve automatically through experience; natural language processing (NLP), which enables computers to understand and interpret human language; and robotics, a branch of AI that focuses on creating machines capable of performing tasks in the physical world. AI excels in analyzing large, complex data sets, recognizing patterns, and making predictions, which can be invaluable in various fields, from healthcare diagnostics to financial market analysis.

A Synergistic Relationship

When AI and blockchain come together in the realm of cryptocurrencies, they create a potent mix of security and intelligence. Blockchain provides a secure and transparent platform for transactions, while AI contributes advanced analytics and automation. This fusion enhances the efficiency, reliability, and functionality of cryptocurrencies.

The landscape of AI and blockchain in cryptocurrencies is dotted with innovative projects:

Projects like The Graph are revolutionizing data indexing and querying in blockchain networks, making it easier to access and interpret blockchain data.

Rendering platforms are leveraging the Ethereum blockchain for distributed GPU networks, facilitating high-speed rendering and content creation.

AI marketplaces, such as SingularityNET, enable the exchange of AI services, showcasing the potential of decentralized AI solutions.

Impactful Applications in Cryptocurrency

Interoperability: The integration of AI enables seamless interaction between different blockchain networks, facilitating data sharing and transactions across various platforms.
Decentralized Finance (DeFi): AI’s role in DeFi is increasingly prominent, offering enhanced risk assessment, efficient lending protocols, and yield optimization strategies.
Security Enhancement: AI algorithms play a pivotal role in identifying and mitigating security threats within blockchain networks. They enable real-time detection of fraudulent activities and anomalies in transaction patterns.

While promising, the fusion of AI and blockchain faces hurdles such as ensuring scalability, dealing with regulatory frameworks, and addressing ethical concerns of AI deployment. Overcoming these challenges is vital for the continued advancement of this technology.

The Future of AI in Cryptocurrency

The future of AI in cryptocurrencies is rich with possibilities:

AI Coins: Represent a new wave of digital assets that are dynamic and intelligent, capable of adapting to user needs and network demands.
Personalized Experiences: AI algorithms can tailor user experiences in decentralized applications, enhancing engagement and satisfaction.
Scalability Solutions: AI can dynamically adjust blockchain network parameters to handle varying levels of demand, thereby addressing one of the major challenges in blockchain technology.

In 2023, the cryptocurrency world is witnessing a remarkable transformation, thanks to the fusion of AI and blockchain technologies. This integration is not just a fleeting trend; it’s a pivotal development that is reshaping the future of digital finance. AI, with its advanced algorithms, is playing a key role in deciphering complex market dynamics and offering predictive insights for cryptocurrency trading. Blockchain, known for its robust security and transparency, is fortifying the trust in digital transactions.

Together, they are driving the emergence of AI-powered trading platforms, enhancing investment strategies and broadening the scope of digital assets. Furthermore, blockchain’s application extends beyond finance, with significant implications in industries like healthcare, indicating its versatile and far-reaching impact. This year marks a turning point, as the symbiosis of AI and blockchain sets new standards and opens up exciting possibilities in the digital economy.

The convergence of AI and blockchain in cryptocurrencies is more than a technological advancement; it’s a paradigm shift in digital finance. This fusion is poised to redefine the way we view security, efficiency, and innovation in the cryptocurrency sector. As we continue to explore and harness the potential of this synergy, we stand at the threshold of a new era in the digital economy, one that promises greater inclusivity, transparency, and efficiency.

Link: https://bigdataanalyticsnews.com/ai-blockchain-in-cryptocurrencies/?utm_source=pocket_saves

Source: https://bigdataanalyticsnews.com

The post The fusion of AI and Blockchain in Cryptocurrencies appeared first on Fintech News.

Plunging Crypto prices trigger $800 million in liquidations

Horacio — Mon, 18 Mar 2024 20:48:32 +0000

It’s another bloodbath for traders betting on crypto prices, with Bitcoin and Ethereum positions leading the latest round of liquidations.

By Sander Lutz

Bitcoin’s tumultuous Thursday apparently caught traders unawares, with the token’s sudden plunge triggering nearly $300 million worth of BTC-specific liquidations in 24 hours, and over $800 million worth of liquidations across the broader crypto market.

Early Thursday morning, Bitcoin nearly touched $74,000, notching yet another all-time high for the red-hot cryptocurrency. Then a report from the U.S. Labor Department revealed that inflation has yet to fully subside—sending Bitcoin on a downward spiral that it has yet to fully recover from.

BTC dropped as low as $65,848 on Friday morning; it has since recovered to $67,860 at writing, an 8% drop from Thursday’s highs.

That dip was clearly unanticipated by many traders who—amid BTC’s spectacular, record-breaking rally of the last couple weeks—bet hundreds of millions of dollars on the coin continuing to go up in price.

Over $200 million dollars worth of BTC long positions have been liquidated in the last 24 hours alone, according to data from CoinGlass. Over $70 million short positions of the world’s top cryptocurrency have also been liquidated in the same period.

While Bitcoin-related liquidations constituted over a third of all such transactions in the crypto market, many other coins have felt the heat in the last day, following similar trends.

Ethereum plummeted about 8% off yesterday’s dim inflation news, to $3,701 at writing. In a trend parallel to that of BTC, more than $100 million worth of ETH long positions were liquidated in the aftermath, along with over $30 million worth of short positions on the token.

The other tokens most bloodied by yesterday’s sudden price dip include Solana and Dogecoin, which saw over $40 million and $18 million worth of liquidations, respectively.

Though the vast majority of cryptocurrencies saw most of their liquidations come from long positions, Solana was the rare exception to buck that trend—with SOL long and short liquidations in the last 24 hours almost equally split at roughly $20 million each.

Link: https://decrypt.co/221922/bitcoin-blowout-plunging-crypto-prices-800-million-liquidations

Source: https://decrypt.co

The post Plunging Crypto prices trigger $800 million in liquidations appeared first on Fintech News.

Bonk and Pepe see bullish growth as new Meme coin is backed to explode

Horacio — Mon, 18 Mar 2024 13:36:54 +0000

By bJoshua Ramos

Meanwhile, analysts rally behind the new meme coin Dogecoin20 as its presale nears $2 million in four days.

Bonk and Pepe Bounce As Meme Coin Market Thrives

In a continued display of strength, the meme coin market has pumped 8% today, currently holding a $53 billion market cap.

The recent uptick reflects a deep-rooted market appetite for meme coins, with prominent industry figures like Elon Musk returning to the sector after a long hiatus.

Bonk and Pepe, two blue-chip projects that rose from the depths of the 2023 bear market, have encapsulated this recovery following a weekend selloff.

Bonk is priced at $0.00002617, up 4.6% today and 101% this month, but down 17% this week. It holds a $1.7 billion market cap and a $405 million 24-hour trading volume.

Meanwhile, Pepe is priced at $0.000007609, up 7.8% today and 535% this month but down 15% this week. And with meme coin season ongoing, both cryptos are anticipated to advance.

TradingView analyst CryptoAnalystSignal predicts a leg up toward $0.000051 in the coming days, citing a strong “support area” around $0.000026.

The analyst also noted a triangle breakout to the upside, increasing the likelihood of a new high.

Moving to Pepe, trader Exponential Research believes it is one of the “strongest coins in both pump and dump situations,” noting its strong price and market data as reasons why.

The analysis highlighted that Pepe has been leading the recent market rallies and sell-offs, indicating high interest among traders.

Exponential Research’s analysis also notes that Pepe’s outperformance will drive more demand and that its funding rate recently reset, enabling sustainable and organic price action.

Bonk and Pepe look primed for further gains, provided the meme coin market continues to perform.

Still, the enigmatic market environment presents new opportunities daily. One of the most promising emerging contenders is Dogecoin20, a compelling presale that has raised $1.9 million in four days.

Meme coin mania has spilled over into the presale realm as the newly launched Dogecoin20 raises almost $2 million in four days.

Indeed, the broader market appetite for meme coins has had an impact, but Dogecoin20’s distinct use case has also played a pivotal role in its success.

As a Dogecoin-inspired project, Dogecoin20 takes the crypto godfather’s memetic allure and intertwines it with cutting-edge utility and carefully engineered tokenomics, a recipe for lasting success.

While the original Dogecoin lacks utility, Dogecoin20’s innate Stake-to-Earn mechanism enables holders to earn passive rewards on their investment. They can currently garner a 401% APY, which will decrease as more tokens are staked.

Meanwhile, the project also builds on Dogecoin’s tokenomics, implementing a capped supply to stave off inflation and price dilution.

Moreover, Dogecoin20 is native to the Ethereum blockchain, offering accessibility and interoperability with the network’s vast ecosystem.

These benefits have drawn unwavering interest. In a recent YouTube video, analyst Cilinix Crypto said he bought the presale, displaying immense optimism about its future.

However, urgency and FOMO are kicking in as the presale price incrementally increases throughout the campaign. The next uptick will occur when it raises $2.3 million.

Link: https://watcher.guru/news/bonk-and-pepe-see-bullish-growth-as-new-meme-coin-is-backed-to-explode

Source: https://watcher.guru

The post Bonk and Pepe see bullish growth as new Meme coin is backed to explode appeared first on Fintech News.

Exploring Crypto presales with 100x potential – Scorpion Casino, Memeinator

Horacio — Mon, 18 Mar 2024 08:14:19 +0000

In the dynamic world of cryptocurrency investment, the quest for millionaire status often leads investors to seek out projects with exponential growth potential. Whilst crypto markets are highly volatile there are always opportunities to strike it rich and become a crypto millionaire. Past stories of Dogecoin & Shiba Inu did indeed turn many average investors into multi-millionaires.

Today, we delve into three compelling crypto presales offering the opportunity to achieve significant returns: Scorpion Casino, Memeinator, and ScrapesMania. Each project presents unique value propositions and pathways to wealth accumulation within the burgeoning digital asset landscape.

Scorpion Casino: Unveiling Passive Income Potential

Enter Scorpion Casino, a revolutionary platform redefining the intersection of crypto and online gambling. Beyond traditional gaming experiences, Scorpion Casino offers investors the chance to participate in a lucrative passive income strategy, potentially yielding up to $10,000 daily. As an enticing bonus, readers can capitalize on the ongoing ‘SC20’ bonus code, securing an additional 20% of tokens during the presale phase. With over $5 million raised in presale funds and a recent listing on XT.com, boasting over 7.5 million users, Scorpion Casino emerges as a formidable investment opportunity. Act now, as the token’s price is anticipated to surge beyond $0.50 post-presale, making early acquisition very important for aspiring millionaires.

Memeinator: Navigating the Meme Coin Landscape

Welcome to Memeinator, the apex predator of meme coins, poised to dominate the market with its approach and robust marketing strategies. Armed with powerful branding and a captivating narrative, Memeinator aims to revolutionize meme trading while offering genuine utility through its MMTR token. However, despite past successes, meme coins are highly volatile and can easily see you lose all your money as well as make you a millionaire. Proceed with added caution if this is the avenue you choose to go down.

ScrapesMania: Bridging Web3 and Web2 Gaming

In a bid to reshape the gaming industry, ScrapesMania introduces a groundbreaking platform catering to both Web3 enthusiasts and Web2 casual gamers. By empowering players to influence game development and participate in blockchain crowdfunding, ScrapesMania addresses the challenges plaguing the Play-To-Earn market.

With $6 million raised in presale, ScrapesMania has garnered popularity that has seen it hit the mainstream. While the project holds promise, investors are increasingly drawn to Scorpion Casino’s disruptive model, which offers a compelling blend of entertainment and financial opportunity.

Seizing Investment Opportunities

As we navigate the labyrinth of crypto presales, the quest for millionaire status hinges on identifying projects with the potential for 100x growth. Scorpion Casino, Memeinator, and ScrapesMania each present intriguing prospects for investors seeking exponential returns.

However, with its innovative passive income strategy, strategic partnerships, and rapid market penetration, Scorpion Casino emerges as the choice for those in the pursuit of wealth accumulation. As aspiring millionaires evaluate their investment options, Scorpion Casino stands poised as the opportunity in recent cryptocurrency projects.

Link: https://www.analyticsinsight.net/unlocking-millionaire-status-exploring-crypto-presales-with-100x-potential-scorpion-casino-memeinator-scrapesmania/?utm_source=pocket_saves

Source: https://www.analyticsinsight.net

The post Exploring Crypto presales with 100x potential – Scorpion Casino, Memeinator appeared first on Fintech News.

Trump: Bitcoin has taken on ‘a life of its own,’ will probably need some regulation

Horacio — Mon, 18 Mar 2024 06:44:27 +0000

Asked about bitcoin before the South Carolina primary, Donald Trump said “I can live with it.”
That may indicate his stance is softening. In 2019, the then-president said he was “not a fan” of cryptocurrencies.

Former U.S. president and Republican front-runner Donald Trump said bitcoin (BTC) has “taken a life of its own” and will probably need some regulation.

Trump was speaking to Fox News during a town hall event in South Carolina on Tuesday ahead of the state’s Republican primary. Nikki Haley, the former South Carolina governor, remains the only other contender and has vowed to remain in the race even if she loses the Saturday primary.

Bitcoin has “taken a life of its own,” Trump responded to Fox News anchor Laura Inghram’s question about whether the next logical step for the U.S. is to embrace bitcoin. “You probably have to do some regulation. But many people are embracing it. More and more I’m seeing people wanting to pay bitcoin. … I can live with it one way or the other.”

That sounds like he may be easing his stance. Back in 2019, when he was president, Trump tweeted that he was “not a fan” of cryptocurrencies, saying they were “not money.” And, he reiterated Tuesday: “I always liked one currency … I like the dollar.”

Trump has called central bank digital currencies (CBDCs) dangerous and vowed not to allow them if elected.

Link: https://www.coindesk.com/policy/2024/02/23/trump-bitcoin-has-taken-on-a-life-of-its-own-will-probably-need-some-regulation/?utm_source=pocket_saves

Source: https://www.coindesk.com

The post Trump: Bitcoin has taken on ‘a life of its own,’ will probably need some regulation appeared first on Fintech News.

Why all Crypto wallets are going to be smart contract wallets

Horacio — Mon, 18 Mar 2024 04:44:24 +0000

By Motty Lavie

Wallets today present a significant challenge in onboarding everyday users to crypto.

In response, the industry must prioritize and push the transition towards solutions that are both more user-friendly and much more secure, without sacrificing the decentralized and self-custodial nature that crypto is all about.

Traditional self-custodial wallets – which often overlook the importance of user experience and place the entire burden of security on users – are in stark contrast to the seamless and frictionless experiences that have become the norm in the Web 2.0 realm.

This gap has led even the earliest adopters of cryptocurrency to favor custodial solutions and centralized exchanges.

However, a paradigm shift is coming with the advent of smart contract-based wallets.

These innovative wallets promise to revolutionize self-custody and are poised to facilitate the widespread adoption of cryptocurrency.

What are the main flaws in current crypto wallets

The fundamental concern is security and having the peace of mind that you won’t lose your funds.

A recent report from Chainalysis shows that hundreds of millions of dollars have been stolen from crypto wallets in the past couple of years.

The core issue with the security of current crypto wallets is their reliance on a seed phrase – a series of 12-24 words that act as the sole protector of a user’s wallet.

Even hardware wallets, at their core, are safeguarded by a seed phrase. If the seed phrase is lost, or if an attacker gains access to it, the user’s funds are at risk.

But why is the seed phrase so problematic? To understand this, let’s examine the three main security factors of user authentication.

Something you know – a password
Something you have – a physical device
Something you are – biometric identity such as a fingerprint or face scan

While even basic Web 2.0 services implement at least two of these factors, most self-custodial crypto wallets today rely solely on the first factor – ‘something you know’ – which is considered the weakest of the three (with text passwords being particularly vulnerable).

This reliance makes seed phrases a significant security vulnerability, prone to phishing attacks and malware.

However, security is not the only issue. The overall UX (user experience) also presents significant challenges.

One notable example is the requirement to pay for transactions with a specific token (the gas token), regardless of the transaction’s nature, the tokens involved or the actual tokens available in the wallet.

The rise of smart contract wallets

Smart contract wallets feature a dual structure – an application layer, similar to existing wallets, responsible for signing transactions and sending them to the blockchain, and a smart contract account that operates on the blockchain itself, through which all the wallet account’s transactions are processed.

This structure is exceptionally powerful, enabling each account in the wallet to incorporate both custom signature verification logic and arbitrary execution logic for every transaction.

It’s this additional logic that earns the wallet its ‘smart’ designation.

Essentially, it’s akin to having a decentralized server capable of saving state.

This innovation opens up an entirely new realm of possibilities for wallet providers, allowing them to significantly enhance both security and UX.

Smart contract wallets introduce several groundbreaking features that address the limitations of traditional wallets.

Enhanced security

By enabling custom signature verification logic, these wallets can utilize the advanced security chips found in modern mobile devices and laptops, facilitating a 2FA (two-factor authentication) mechanism to robustly protect funds.

Keys generated within the device’s security chip are inherently bound to the device itself (‘something you have’), and transactions can only be authorized through biometric authentication (‘something you are’).

These transactions are then verified on-chain by the account’s smart contract, ensuring that the account remains secure against phishing or malware attacks, even if the seed phrase is compromised.

Equally important, it does not require sacrificing decentralization or self-custody.

The user has sole control over the wallet, and no party can censor or sign on their behalf.

Daily spending limits

In traditional banking systems, using an ATM card does not allow the withdrawal of all the money in an account.

This is a protective measure, ensuring that if your card gets stolen, the thief cannot drain your entire bank account.

Conversely, in the realm of cryptocurrency, there are typically no such restrictions, and a single transaction, whether intentional or fraudulent, can deplete an entire account.

Smart contract wallets introduce the capability to enforce daily spending limits, necessitating additional authentication for transactions that exceed a predefined spending threshold, such as requiring signatures from two different devices.

This feature allows for a seamless user experience for transactions involving small amounts, while introducing an additional layer of security for higher-value transactions.

Deadman switch

Addressing a concern that is seldom discussed, smart contract wallets can implement mechanisms that allow the transfer of assets to predetermined beneficiaries if the wallet remains inactive for an extended period.

This ensures that assets are not lost in the event of the owner’s death.

This feature is markedly different to most existing self-custody wallets, where owners must share their seed phrase or keys while alive to prevent their assets from being lost upon their passing.

Paymaster functionality

Anyone who has interacted with blockchains is familiar with the cumbersome process of managing gas fees – ensuring you have enough of the specific gas token required to pay for transaction fees, even if the transaction involves different tokens.

Smart contract wallets can overcome this challenge by allowing users to pay for transactions with their token of choice.

The account’s smart contract seamlessly exchanges the chosen token for the required gas token, simplifying the process.

This functionality also opens the door for DApp developers to bundle or subsidize the gas fee, offering ‘gasless’ transactions, further enhancing the UX.

Looking forward – a new era of crypto wallets

Smart contract wallets address the critical flaws inherent in current wallet designs and introduce features that meet users’ expectations for security and convenience, much like what they have become accustomed to in the Web 2.0 space.

This positions smart contract wallets to potentially become the new standard, paving the way for the widespread adoption of non-custodial crypto solutions.

This transition not only promises to significantly enhance the security and usability of crypto wallets but also marks a pivotal step towards ushering the masses into a more decentralized future.

Link: https://dailyhodl.com/2024/03/14/why-all-crypto-wallets-are-going-to-be-smart-contract-wallets/

Source: https://dailyhodl.com

The post Why all Crypto wallets are going to be smart contract wallets appeared first on Fintech News.