What is an NFT?

A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

The historic moment for the whole Polkadot ecosystem has come: the first slot auctions for its Canary network Kusama went live. Why is it such an important milestone? The basic Kusama chain (and Polkadot too, but we’ll be talking about Kusama here) is a layer that provides security for the whole network. Aside from that, it has very limited functionality, because it was never supposed to work on its own. And now it’s finally going to be enhanced to its full potential by enabling parachains, each parachain adding new functionality to the whole network.

Story originally posted by Coindesk by Jamie Crawley.

Tezos’ branding will be displayed on the race suits of McLaren’s Formula 1 and INDYCAR drivers.

McLaren Racing said it plans to build a non-fungible token (NFT) platform on the Tezos blockchain.

  • The platform will list NFTs illustrating McLaren Racing’s history and heritage and famous drivers, according to an emailed announcement Thursday.
  • McLaren cited the Proof-of-Stake model that powers the Tezos network — which is less energy intensive than Proof-of-Work blockchains — as the key to partnership.

Article originally posted by Coindesk by Jamie Crawley

Around one in six Australians own crypto, a report by Finder showed.

Crypto ownership in Australia has grown since the beginning of the year, though volatility remains a barrier to wider adoption, a new report has shown.

🔹Around one in six (17%) Australians owns crypto, according to the report by Finder, The Australian reported Thursday. That’s up from 12% at the start of the year.

🔹Bitcoin — owned by 9% of Australians — is the most popular currency, though this has fallen from 13% at the start of 2021. Bitcoin’s decline reflects…

The fee burning ethereum upgrade, known as Ethereum Improvement Proposal (EIP) 1559 is set to have its first testnet block on Ropsten this June 24th at block number 10499401.

That’s according to Tim Beiko, the ethereum 1.0 coordinator, who after a dev call stated:

“With all clients comfortable with their 1559 implementation, we agreed it made sense to set testnet blocks now. Some of the JSON RPC changes mentioned at the beginning may come after the testnet forks, but all the consensus-related changes for 1559 are ready to go!”

🔹What will Taproot Do?

All parties in a transaction can make these complex transactions look like person-to-person transactions. They can do this by combining public keys to create a new public key, and combining signatures to create a new signature. It does this through a device called Schnorr signatures.

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🔹What is Schnorr Signatres?

A Schnorr signature is a digital signature produced by the Schnorr signature algorithm that was described by Claus Schnorr. It is a digital signature scheme known for its simplicity, among the first whose security is based on the intractability of certain discrete logarithm problems. …

Over the past year, Russia has become a leader in terms of the overall growth in demand for digital assets and the number of cryptocurrency holders. The latest report by Research and Markets states that Russia is among the leading countries in crypto adoption.

The number of exchange accounts registered by Russian traders on the Huobi Global exchange has grown by 212.5% since the beginning of 2021, and the number of new users from Russia is growing by an average of 37.08% per month.

Analysis of associated metrics sheds light on the reasons behind such dynamics. To better understand the…

How to Vote for Your UEFA EURO 2020 and Share $400,000 Prize Pool!

UEFA EURO 2020 was postponed in March 2020 due to the COVID-19 outbreak. The event, although, was postponed for one year, its name is still retained as the UEFA EURO 2020. The new UEFA EURO 2020 will take place from 11 June to 11 July, 20201 and its schedule has also been confirmed, with 11 host cities staging the 51 fixtures.

In addition to watching the game and cheering in front of the TV, what other ways can you do for your favorite team? Our UEFA EURO 2020 Global Campaign is a good chance for you to support your team…

Credits to Coindesk and written by Nikhilesh De!

El Salvador officially recognizes as legal tender.

In an early Wednesday vote, a supermajority of the nation’s legislature voted in favor of President Nayib Bukele’s proposal for the Latin American nation to adopt bitcoin. The president intends to sign the bill into law later tonight or early in the morning.

Sixty-two members of the legislature voted in favor of the bill, with 19 opposed and three abstentions.

Bukele provided further details about his vision, pitched as an effort to boost financial inclusion in a country where only 30% of citizens have access…

Credits to CoinDesk for this amazing story written by Sandali Handagama!

Nigeria may launch a central bank digital currency (CBDC) by the end of 2021, according to a central bank official.

Speaking at an online news briefing on Thursday, Rakiya Mohammed, an information technology specialist at the Central Bank of Nigeria (CBN), said that the entity had been exploring a possible CBDC for over two years, according to local media reports.

“Before the end of the year, the central bank will be making [a] special announcement and possibly launching a pilot scheme in order to be able to provide this…

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The leading global digital asset exchange. www.hbg.com | www.huobi.com

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