Crypto Guides, Knowledge & Insights

Andreessen Horowitz Launches A16z Crypto Research Lab

A16z Announces It Will Conduct Blockchain Related Academic Research　　Andreessen Horowitz, an organization with heavy investments in crypto and Web3 startups, has announced the launch of the a16z crypto research lab, an initiative that will let the company tackle the challenges the sector presents. The company considers that the crypto and Web3 sector has “emerged as a new frontier in technology, and it has matured into an independent field of knowledge that brings together elements of computer science, economics, finance, and the humanities”　　This potential the VC firm sees in the blockchain environment is what is fueling its dedication to trying to solve all the new problems that the crypto environment faces, combined with the ability to put these resolutions to the test. On this, a16z stated:　　There is an opportunity for an industrial research lab to help bridge the worlds of academic theory with industry practice, and to help shape crypto and web3 as a formal area of study by bringing together the very best research talent from the various disciplines that are relevant to the space.　　The lab will be headed by Tim Roughgarden, a researcher and computer science professor at Stanford and Columbia, and Dan Boneh, professor of computer science and

2022-04-25Deep Dive

Japanese Carmakers Toyota and Nissan Enter the Metaverse

‘Limitless Possibilities’　　Japanese carmakers Nissan and Toyota have become the latest global corporations to join the metaverse after a report said the former had launched a virtual showroom while the latter had created virtual workspaces. By establishing a presence in the metaverse, the two carmakers join their European counterparts Volkswagen and Mercedes Benz in making use of the technology.　　As per a Nikkei Asia report, Nissan has created a digital reality version of its Tokyo gallery Nissan Crossing which can be used for vehicle launches and other events. On its website, Nissan Motor Corporation stated that through its Invisible-to-Visible — an augmented reality interface that connects to the metaverse — it has created “limitless possibilities for services and communications that will make driving more convenient, comfortable, and exciting.”　　On the other hand, Toyota, which is one of the largest carmakers in the world by volume, is reported to have created virtual workstations for some departments and its subsidiaries. Using avatars, employees take part in company meetings and also chat with each other.　　According to the report, the technical development and human resources teams at the parent company are already utilizing virtual workspaces. There are also plans to further expand this, the report said.Another Communication

2022-04-25Deep Dive

Coinbase CEO Says Apple's Crypto Policy Raises 'Potential Antitrust Issues'

Potential Antitrust Issues　　Coinbase CEO Brian Armstrong talked about Apples crypto policy in an episode of the Superteam podcast, which aired last week. Superteam is a podcast that explores the web3 ecosystem in India.　　Commenting on Apple‘s anti-crypto policy, he detailed: “You try to get your app in the App Store and Apple ejected it and then they had this competing one that got approved … it’s a black box.” The Coinbase boss elaborated:　　Apple so far has not really played nice with crypto. They‘ve actually banned a bunch of features that we would like to have in the app, but they just won’t allow it — so theres potential antitrust issues there.　　Armstrong added: “There‘s going to have to be crypto-compatible phones that I think could actually become quite popular in the future, so it’ll be interesting to see how that plays out.”　　The crypto exchange CEO stressed that he doesnt want Coinbase to be like Apple, adding: “Decentralized exchanges (DEXs) to me are very interesting for that reason.”　　Regarding coin listings, the Coinbase CEO explained that as a regulated financial service business, the platform cannot just list anything so Coinbase developed “very vigorous listing standards” to decide which cryptocurrencies will be listed.　　If a coin

2022-04-25Deep Dive

Can Dogecoin Slide Further? Key Technical Levels To Keep An Eye On

Dogecoin remains bearish at the time of writing as it just broke below its immediate price support line. Broader market weakness can be attributed to the price fall. Major market movers have displayed choppy price action.　　Over the last 24 hours, Dogecoin lost 2% and in the last week, it declined by 8%. The global cryptocurrency market cap was at $1.93 Trillion as there has been a decline of 0.2% in the last 24 hours.　　The meme coin has been facing tough resistance at its immediate price ceiling. Buyers have also decided to lay low as a reason the coin continues to fall prey to selling pressure.　　Constant fall in buying pressure has pushed the coin to break its immediate support level and eye its next price floor.Dogecoin Price Analysis: Four Hour Chart　　Dogecoin just broke below the price support level of $0.134 on the four-hour chart. Image Source: DOGE/USD on TradingView　　Dogecoin was trading for $0.1324 as it breached its support level of $0.1345 at the time of writing. The coin has been bearish and it has been trading in a descending channel that is considered to be negative.　　A continued fall in prices could push DOGE to $0.1279 marking a 4% fall. If the

2022-04-25Deep Dive

Blockchain networks overview: What makes these networks the best?

Despite years of development and increased security levels, the crypto industry is still being heavily impacted by hackers. In Q1 of 2022, online criminals managed to steal almost $1.3 billion, across 78 recorded incidents. In many cases, the problem did not lie with the protocols, but with the hackers ability to trick unsuspecting users. But, there were also numerous instances where flaws and exploits were the reason why hackers managed to get away with the money.　　This is why we wanted to make a comparison of some of the biggest and most popular blockchain networks, and see which of them are the best, as well as the safest. What are blockchain networks？　　A blockchain network is a technical infrastructure that provides smart contract and ledger services to applications. Essentially, they are blockchains that can be used as development platforms for creating a variety of blockchain products.　　They came back when Ethereum first emerged and shifted the attention from cryptocurrency trading towards blockchains potential as it can be used to create virtually any type of app, protocol, or service that exists off-chain.　　As a result, we now have countless Ethereum-like blockchains that all offer to serve as Ethereum alternatives. This leads to further diversification and

2022-04-25Deep Dive

Central Bank of Mexico Will Launch Its CBDC In 3 Years

On April 21, Victoria Rodriguez Ceja, Governor of the Bank of Mexico (Banxico), said during a hearing before the Mexican Senate that the CBDC (MDBC) “will be in circulation” by 2025.　　According to Rodriguez, the CBDC will enable greater financial inclusion for citizens while expanding existing payment options. They also expect to deploy new automation mechanisms to speed up payment processes.　　“The digital currency seeks to generate means of payments aimed at financial inclusion, expand options for fast, secure, efficient and interoperable payments in the economy, and implement complementary functionalities to the (existing) means of payment, such as automation mechanisms, programmability, and innovation.”　　This would delay a little bit the previous schedule shared by the Central Bank. On december 31 of2021, Cryptopotato reported that the country had in mind 2024 as the year to launch a CBDC. The announcement, however, gives the idea that Mexicos CBDC could support more services than just transmission of value.　　Banco de México Is Thinking on Regulating Cryptocurrencies　　Although Mexican President Manuel López Obrador ruled out the possibility of adopting Bitcoin or any cryptocurrency as legal tender in the country, Mexicos own central bank is now seeking to give them greater legality through regulation.　　Rodriguez said that Banxico and other central

2022-04-25Deep Dive

Brian Armstrong: Apple Does Not Allow Features That Makes Phones Crypto-friendly

Apple‘s App Store policies, according to Brian Armstrong, CEO of Coinbase, have impeded the company’s product plan. He blamed Apple for prohibiting features from their app and overall being unfriendly to the crypto business.Brian Armstrong Bashes Apple　　On a recent episode of the Superstream Podcast, Coinbases CEO and co-founder Brian Armstrong chastised Apple for “potential antitrust issues”　　Armstrong came on the Superstream Podcast on April 20 to discuss the current situation of cryptocurrency, entrepreneurship, and Coinbase, the firm he cofounded.　　Before going on to criticize Apple, he implied that crypto investors would one day be able to utilize “crypto-compatible” devices with special hardware characteristics built-in.　　He claimed that “Apple so far has not really played nice with crypto” claiming that the business had disallowed a number of features that they wanted in the app but that Apple would not allow.　　“Apple so far has not really played nice with crypto, they have actually banned a bunch of features that we would like to have in the app, but they just won‘t allow it – so there’s potential antitrust issues there,” he said.　　When asked if Coinbase would ever release its own hardware wallet, Armstrong revealed the information. He claimed that the company already has a co-branded

2022-04-24Deep Dive

Critics say algorithmic stablecoins are ‘disaster waiting to happen’

The recent increase in the popularity of the so-called “algorithmic stablecoins” has caused an uproar within the crypto community, resulting in serious debates around their utility for the crypto market. 　　Algorithmic stablecoins are seen as new breeds of cryptocurrencies seeking to replicate the stability of the dollar. They are regarded as the high-strung relatives of traditional stablecoins, which are virtual legal tenders built on the foundation of maintaining a connection with a conventional currency, typically the dollar. However, critics say they are a disaster waiting to happen. They are crypto tokens that utilize price stabilization algorithms to store the value of assets, usually at $1. An increase in the value of assets results in a supply of tokens, while tokens reduce when assets fall in value. What Do Supporters and Critics of Algorithmic Stablecoins Say？　　Supporters of algorithmic stablecoins claim they are superior to traditional stablecoins since a sole centralized body does not administer them. Instead, they are controlled autonomously with the aid of a blockchain-based network that relies on traders all over the globe to link them to the dollar. 　　Such an arrangement makes it more challenging for government regulators to oversee algorithmic stablecoins. This particular feature is seen as

2022-04-24Deep Dive

The 5 Key Features of Blockchain Technology You Should Have on Your Fingertips

A blockchain is defined as a public ledger of transactions that is maintained and verified by a decentralized, peer-to-peer network of computers that adhere to a consensus mechanism to confirm data. 　　Here are key features of blockchains that make then unique to other technologies and that you should know:Decentralized　　A blockchain is a decentralized network i.e., it has no central authority to control the network as is the case in the client server model.　　There is no central “third party.”Peer-to-Peer　　This characteristic of blockchains allows transactions to involve only two parties, the sender and the receiver, thus removing the requirement of ‘third party authorisation’ because everyone in the network are themselves able to authorise the transactions.Consensus Mechanism　　A consensus mechanism is described as a fault-tolerant mechanism used in a blockchain to reach an agreement on a single state of the network among distributed nodes. These protocols make sure all nodes are synchronized with each other and agree on transactions, thus making them legitimate and therefore can be added onto the blockchain.　　There are two leading mechanisms:　　Proof-of-Work (PoW) – Proof-of-work is done by miners who compete to create new blocks full of processed transactions　　Proof-of-Stake (PoS) – Instead of needing to do intense computational work (mining), in

2022-04-24Deep Dive

Report Says Binance Shared Client Data With Russia, Crypto Exchange Denies Allegations

Binance Consented to Russian Request for Customer Info, Reuters Claims in ‘Special Report’　　Binance, the world‘s leading digital asset exchange, has agreed to hand over customer data to Russia’s financial intelligence agency, a report by Reuters suggests. The article refers to messages allegedly sent by Binances regional head Gleb Kostarev to a business associate revealing that the Russian officials asked for such information, including names and addresses, during a meeting last April.　　The Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) saw its request supposedly motivated by the need for help in the fight against crime. Quoting an anonymous source familiar with the matter, the authors note that at the time, the financial watchdog was trying to trace millions of dollars in bitcoin raised by imprisoned Russian opposition leader Alexei Navalnys team.　　Rosfinmonitoring labeled his network a terrorist organization a year ago. The Kremlin critic claimed the crypto donations were used to fund efforts to expose corruption inside President Putin‘s administration. Supporters who sent money through Russian banks were interrogated, Navalny’s foundation says. After his arrest in January 2021, it encouraged backers to donate via Binance.　　Navalny was detained upon his return to the Russian Federation, after recovering from poisoning that the West

2022-04-24Deep Dive

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