Crypto galaxy : the latest news
The crypto news never ceases to amaze us with a nice rise of bitcoin since mid-March 2022, dragging with it other important digital stocks like ethereum. What's going on in the crypto-currency universe during this month of April 2022? We bring you a concentrated collection of news that is making news in the blockchain universe.
Miami bitcoin conference from April 6
It is indeed the world's largest bitcoin conference that will take place from April 6 to 9 in Miami, a U.S. city whose geographical position and influence makes it a pioneer city for crypto-currencies. In all, more than 75 crypto companies will be gathered to discuss the developments of BTC. Jack Dorsey, Twitter boss and Nahib Bukele, president of El Salvador, both strong advocates of the digital currency will be present at the event.
Specialists of https://craneplumbing.us/ believe that this conference will be accompanied by strong announcements such as the plan to move from Proof Of Work to Proof of Stake with regard to bitcoin mining. BTC value could see a dramatic rise during these three days, but only if the players in the field reach innovative consensus to make the bitcoin blockchain greener and more environmentally friendly.
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Ethereum update, a date scheduled for June 2022
The Merge is the name on every ethereum blockchain follower's lips, as it is a network configuration that will help the transition from ethereum 1.0 to ethereum 2.0. Followers of this digital currency are well aware of the problems it faces: a congested network with high transaction fees that often turn off investors. The solution proposed by The Merge is a shift from Proof of Work to Proof of Stake when mining ETH.
This change would drastically reduce the energy demands of the blockchain and make it more efficient. The truth is that this change is not yet official, but the date of June 22, 2022 will allow us to see more clearly the evolution of ethereum. In the meantime, the value is rising in line with bitcoin, from €2366 on March 13 to €3126 in early April.
Elon Musk takes over Twitter, Dogecoin takes advantage
The man who makes stock markets go up and down with a tweet has just made a big move by declaring himself a majority shareholder in the microblogging site Twitter. Since March 14, the billionaire entrepreneur has bought 9% of Twitter's shares, for a total of 2.62 billion euros. Nothing surprising from Elon Musk, who has often used the social network to promote his projects as well as crypto-assets like Dogecoin, whose trading volume has seriously increased in recent days.
After this announcement, some traders are speculating that DogeCoin will soon be used for tipping on Twitter. This represents a serious publicity stunt for what was still called a puppet currency a few years ago. In fact, the value of DogeCOin has increased by 20% since March 14, 2022.
Recovering your crypto password has become a business
We all know the story of the unfortunate person in possession of a small fortune in bitcoin who can't remember his or her damn password. Several companies are indeed specialized in crypto wallets password recovery, be it virtual wallets (Metamask, Exodus and dozens of others) or physical wallets such as Ledger or Trezor.
Be careful though, don't expect a miracle solution from these companies. To recover your password, engineers will need clues such as a few letters of the password. Using brute force, a technique that involves entering thousands of passwords manually, these recovery sites have a 32% success ratio. They usually charge a 20% commission if they manage to recover your loot, but they don't charge anything if they consider your crypto wallet unrecoverable.
Decentralization and web3 remain utopias, says financial audit firm
US auditing firm Forrester Research renders a detailed report on the disillusionments of web3, a term brought back into vogue to refer to the entire crypto ecosystem. According to the firm, the idea of decentralizing crypto-assets is a nice utopia on paper, but it comes up against the reality on the ground, which sees a few big players taking over all crypto projects and leaving crumbs for small investors.
It also castigates the fact that the transparency of the code that the crypto sphere wants also encourages abuses such as hacking platforms. In general, the report states that the very concept of decentralization is undermined by reality, where the ethereum blockchain could not sustain itself without the help of centralized companies, for example.
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