Discover the top news in crypto for the week!
Crypto’s adoption is on a rally, with emerging economies leading the way, while institutions focus entire divisions on digital assets. At the same time, the mining landscape reinforces the US position while new ownership models based on digital assets gain traction. Find out the top 5 crypto news of this week.
The Lightning Network propels Bitcoin’s growth.
A new report by CoinShares suggests that Bitcoin’s recent adoption is due to the integration of the Lightning Network - an additional layer on top of the Bitcoin network - to increase efficiency.
”Lightning enables users to amortize the cost of a Bitcoin transaction across many payments over time,” allowing for faster and cheaper transactions under the network.
The report also suggests that Bitcoin can handle more transactions than payment networks like Visa while offering even more security.
US miners benefit from China’s ban on the industry.
North American miners are taking advantage of the Chinese crypto mining ban to reveal significant growth in their mining production in the last quarter.
As miners relocate to other countries, some have shut down operations, leading big players in the US to gain market share while decentralizing Bitcoin’s hash rate.
The US is positioning itself as a great alternative for miners, with states embracing green energy sources and big players doubling down on their mining efforts.
Singaporean investors favor Ethereum.
A new study reveals that Ethereum is the most popular digital asset among Singaporean investors, followed by Bitcoin and Cardano.
The survey found that 67% of Singaporeans own crypto, while 34% plan to invest next year.
People under 35 years old lead the investment trend, while 64% of participants reveal having more than 5% of their portfolio in digital assets.
Blockchain can save the future library of Alexandria.
Many of the records that compose human history and its evolution have been targets of destruction by worldwide conflicts or natural catastrophes.
Blockchain technology can help keep a transparent and trackable chain of records for all types of information while safeguarding them against destruction, robberies, or counterfeiting threats.
Decentralized record-keeping brings additional advantages as information can multiply “into multiple pieces“ across “different servers or nodes.”
90% of investors are looking for Bitcoin.
Fidelity investment reveals that 90% of their biggest clients are now asking about Bitcoin amid more interest in crypto by retail and institutional investors.
The digital assets division of Fidelity Investments is now focused on Bitcoin while its president claims that we are “seeing the emergence of a real asset class.”
The interest by traditional investors around Bitcoin surpasses other cryptocurrencies while corporates, individuals, and countries look at digital assets for more use-cases.
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