News about Cardano and the cryptocurrency industry, and my new articles for the week of December 10–16.
My New Article:
Buy, Sell And Create Digital Collectibles At JPG Store
JPG Store is a digital marketplace where NFTs can be bought, sold and created, using smart contracts to handle all interactions. The protocol is open source and published on GitHub, and creators may collect royalties on sales of their works.
News Of The Week:
- Catalyst Circle v4 Elections started on December 06th, 2022, at 21:45 UTC. Voting will be possible until December 16th, 2022, at 21:45 UTC. The on-chain voting process will be handled by the DripDropz team. Community members can vote on who of the +30 nominees will fill the five available community seats, representing various needs, ideas, and visions from the Cardano & Catalyst Community.
- Alessandro “Berry” Konrad, founder of Spacebudz andNami wallet, built a new NFT marketplace protocol, Nebula. Tweet.
- Optim Finance succeeded in fully funding the first SPO Liquidity Bond. Tweet. My article: Optimizing Capital Allocation in Cardano with Optim Finance
- Cardano-related GitHub repositories continue to see more daily development activity than any other blockchain. Tweet.
- Mazars, the French global audit firm that employs more than 42,000 professionals in over 90 countries through its member firms, has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Cryptocom, KuCoin, and Binance. The link to the report on Mazars’ website no longer works: Binance Proof-of-Reserves Auditor Mazars Pauses All Work for Crypto Clients. The AUP (Agreed-Upon Procedures or Agreed-Upon Procedures) engagement provided by Mazars has been misused as an “audit”: Accountant That Vetted Binance Reserves Halts Crypto Work.
MELD Research (Part 2)
Another great report from SCAT DAO. In this second part about Meld, you can see that their Roadmap promised DApp release in Q3–2021, then they changed it to Q4 2021, then delayed it to Q1–2022, and so on, always delaying release every quarter, and the latest info is that DAP lending/borrowing will be on mainnet Q2 2023, we will see. I warned in a Tweet, over a year ago, the huge amount of money raised without having a Minimum Viable Product (MVP). Article: MELD Research Part 2
Unsustainable Bitcoin mining
One indicator we can use to monitor mining activity is the number of Bitcoin addresses that receive payments directly from mining pools.
These “one-hop” addresses are usually controlled by individual miners who contribute hashing power to the mining pool of their choice.
Five months after the BTC price peaked in December 2017, the monthly addresses of active miners increased to 80,000 to drop to lows near 10,000 in 2020. In 2022 we still saw the number of active miner addresses fall by more than 50% from recent highs, reaching the lowest levels since 2011. Activity could easily drop in December as major miners continue to file for bankruptcy. Coin Metrics.
Last Words. My Opinion.
PoW increasingly encircled by the central elite. PoW with permission: Google + AWS + Azure. Microsoft (Azure) will not allow cryptocurrency mining in its online services without prior authorization.
Miners need permission to verify and add transaction records to PoW blockchain. Microsoft prohibits crypto mining on online services without permission.
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