12 years ago, a famous economist criticized Bitcoin, which has since grown by 450,000%
12 years ago, Paul Krugman, a Nobel laureate in economics, expressed skepticism about Bitcoin in an article for The New York Times, highlighting its volatility and fixed supply. However, the cryptocurrency has made a huge leap in value, increasing by 450,000% since then.
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Buterin and Co presented the concept of a new cryptomixer on the Ethereum blockchain
Vitalik Buterin, one of the key creators of Ethereum, in collaboration with a group of experts, presented a study on the Privacy Pools privacy protocol. This protocol is seen as a potential replacement for the existing Tornado Cash, but subject to the strictest regulatory standards.
The project sets itself an ambitious task - to establish a “dividing equilibrium”. Under this concept, developers seek to separate illicit financial assets while maintaining harmony between the right to privacy and mandatory regulations.
Privacy Pools are based on zero-knowledge proof (ZKP) technologies. The essence of the innovation is the use of so-called ZRP (zero-knowledge proof of origin), which confirms the legitimacy of funds. This makes it possible to exclude the possibility of their criminal origin without disclosing the full schedule of all transactions.
Solana user numbers drop to two-year lows
The dynamics of the Solana (SOL) blockchain network continues to decline: as of August 31, the daily audience of the network has fallen to 204,000 users. This figure was the lowest since experts began monitoring online protocol statistics at the end of the previous year.
The decline in user activity on Solana became even more pronounced after the failures on the FTX cryptocurrency platform. An additional decline was noted after the US financial market regulator (SEC) designated the network's main token SOL as a security.
There are 88,200 crypto millionaires in the world
According to the debut Crypto Wealth Report by investment experts Henley & Partners, the number of cryptocurrency millionaires on the planet has reached 88,200. Of this number, approximately 40,500 people choose to store their financial assets in Bitcoin. The total capitalization of the cryptocurrency market is currently amazing – it is equal to $1.2 trillion. In addition, more than 425 million people worldwide own cryptocurrencies. The report confirms not only the exponential growth of the cryptocurrency market, but also its increasing democratization: people now own cryptocurrencies in all corners of the globe.
Hong Kong wants to become a global crypto hub
Hong Kong is ambitiously aiming to become a global hub for cryptocurrency activity. As part of this course, the authorities plan to develop a unique Layer-1 blockchain architecture. In addition to this, it is planned to launch a national stablecoin. There is also an initiative to improve the educational program for training specialists in the field of Web3 technologies. The authorities have already organized an interdepartmental research group. The task of this group is to analyze the current legislative framework and formulate specific proposals for transforming Hong Kong into a leading global digital hub. Thus, Hong Kong is actively working to create a favorable ecosystem space in order to become the largest player in the global crypto and blockchain industry.
User lost $24 million due to phishing attack
A cryptocurrency user was the victim of a phishing scam and lost assets worth $24 million - the attackers carried out an unauthorized transfer of 4,851 units of Rocket Pool cryptocurrency and 9,579 units of ETH Lido Staked. The victim unwittingly activated the phishing link, giving the hacker access to the "transferFrom" function. As a result, cryptocurrency funds were quickly transferred to an address that was previously marked as “Fake_Phishing186943.”
Nigeria is the country with the highest awareness of cryptocurrencies in the world
Nigeria occupies a leading position in terms of awareness of cryptocurrencies in the global arena. According to a study from ConsenSys, 99% of Nigerians are aware of crypto assets, 70% are well versed in blockchain technology, and as many as 90% are considering investing in digital currencies. In countries such as Nigeria and South Africa, cryptocurrencies are also perceived as a mechanism for financial stability and economic opportunity.
