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Meeting Over Regulations Set Between Key Biden Staff And Blockchain Association

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The Blockchain Association stands as a crypto advocacy group based in the US, and has started to take part in the age-old practice of lobbying. In particular, it’s meeting up with various key figures within the Biden administration in order to advocate for more favorable regulations within the crypto space.

Crypto Lobbyists Doing Their Thing

Kristin Smith stands as the executive director of the Association, and gave a statement to Fox Business about the matter. In this statement, Smith highlighted that the Blockchain Association has already met with certain key figures within the Biden Administration, or are otherwise scheduled to meet them in the future.

These high-ranking officials of the White House include names like Wally Adeyemo, the former BlackRock executive, and Deputy Secretary nominee, as well as Janet Yellen, the Treasury Secretary. Alongside this, various representatives of the Treasury Department have been in talks with the Blockchain Association as well.

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Trying To Fix Mainstream Crypto Image

The Association’s biggest aim with these talks, according to the public statement, is to have the Treasury Chief gain a greater understanding of the value of crypto. Smith cited a comment Yellen made in the past, declaring that the primary use case for crypto was illicit financing, and Smith states that it’s the Association’s top priority to change this view.

Yellen herself has seen quite a bit of dislike from the general crypto community. Granted, she didn’t really make that a difficult prospect after declaring that was an extremely inefficient means to conduct any type of transaction, declaring that it wasn’t used as a transaction mechanism all that much.

Using Tools Just For Governments

It should be noted that Yellen isn’t against Decentralized Ledger Technology (DLT), just the general decentralized cryptocurrencies. Yellen had repeatedly shown interest in the centralized use case for DLT. In this angle, Yellen declared it would be very beneficial for the Dollar, offering quicker and safer, not to mention cheaper, means of payment as opposed to fiat.

Adam Traidman stands as the CEO of the BRD crypto wallet. In his public statement, he highlighted how the crypto space at large is trying to work with the highest echelons in the Treasury command chain as possible. In a statement, he highlighted that many in the crypto space aren’t even bothered by compliance or regulations. However, he advocated for a less stringent regulation just for now to spur innovation and jumpstart mainstream adoption.

Meeting Over Regulations Set Between Key Biden Staff And Blockchain Association

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MetaMask’s ConsenSys Reveals New “Custom Networks” Layer 2 Solution

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At this point, everyone with their ear to the ground knows of Ethereum’s massive problem when it comes to transaction fees on the Layer 1 network, not to mention the overall congestion in the network traffic. As one would imagine, it’s been a race for the crypto community to pile on the new “Layer 2” solutions in order to try and bypass these rampant fees. ConsenSys stands as the latest figure to recognize and respond to this, coming with a new Custom Networks API for the MetaMask wallet.

Layer 2 Networks Brought To MetaMask

With this new service, developers are capable of recommending an array of chains to their respective users, Layer 2 chains included.

The firm started off its announcement by highlighting the rampant success of Ethereum, which is ironically causing all the problems when it comes to network transactions. ConsenSys highlighted that Ethereum’s fundamentals are stronger than ever, showing that $12 billion in transaction volumes occurred every day, spread out by 1.3 million transactions. Now, however, the firm emphasized the need for off-chain Layer 2 processing.

The Latest Innovations

Metamask can now incorporate any chain as a custom network, the only mandate being that it has the Ethereum Virtual Machine (EVM) enabled. This all can be done through the MetaMask API, where networks can then be added to the menus of the users, all through a simple confirmation process. After that, it’s a matter of ease for any user to switch between these networks, using the usual network switching menus

ConsenSys highlighted that sidechains, as well as Layer 2 networks, can be added, so a user can incorporate everything from xDAI to Arbitrum to their menus.

Nothing’s Pure Good

However, not everything’s all fine and dandy. The firm was quick to issue out a general warning against untrusted networks, advising users to read the documentation regarding setting them up. It’s a sad fact that MetaMask is both one of the most popular user wallets out there and one of the biggest hubs of bad actors and scammers, as well. It’s almost impossible to have the one without the other.

One of the few (immediate) benefits that this recent market crash had enacted, was that the Ethereum network’s gas prices started to settle down. Now, however, with the market in full-scale recovery, it’s clear that these prices are only going to go up. Until ETH 2.0 launches, the only viable option now available is to make use of sidechains.

MetaMask’s ConsenSys Reveals New “Custom Networks” Layer 2 Solution

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Texas-Based Multicoin Capital Sees Large Investment From Binance

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Multicoin Capital stands as a crypto fund based in Texas, and has recently received an investment of an undisclosed amount from none other than Binance. According to Binance itself, this new investment within Multicoin Capital stands as a very unique one indeed. The biggest result of this is that Binance has now established itself as a limited partner within Multicoin Capital.

Multicoin Capital’s Many Ventures

As for Multicoin Capital itself, it stands as a venture capital company based in Austin. The company invests in cryptocurrencies and allows its investors a regulated amount of exposure within the blockchain industry at large. The latest move from the fund, excluding its new partnership with Binance, is that it had recently started to hoard large amounts of the RUNE coin. RUNE stands as the native token of an up-and-coming decentralized cross-chain automatic market maker.

Multicoin Capital was started during the great ICO crazy of 2017, with its first big funding round having occurred two years later, having ended with a total value of $75 million.

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The Mandatory Kind Words

Changpeng “CZ” Zhao took this opportunity to give the mandatory kind words for his company’s new partner. The CEO of Binance explained that Multicoin Capital served as a key figure within some of the largest crypto success stories out there. CZ cited the strong work ethic they have when it comes to their investments, highlighting its uncanny eye in identifying (And profiting from) emerging projects that promise to develop disruptive new innovations within the crypto market.

Indeed, a total of 20 investments have been made by Multicoin Capital, all of which early-stage funding for various startups within the financial and blockchain sectors. One of the more notable investments within this list is none other than MathWallet. Through doing so, Multicoin Capital and Binance Lab both took part in, and led, the Series B funding round for MATH.

Tushar Jain Singing Binance’s Praises Now

Through the big investment into Multicoin Capital, Binance will join alongside the likes of Union Square Ventures, Ribbit Capital, and even individuals like David Sacks, the former PayPal CEO, in becoming a limited partner for Multicoin Capital.

Tushar Jain stands as the Managing Partner at Multicoin Capital, and gave a very positive public statement about Binance. According to Jain, Binance is one of the world’s infrastructure providers with the greatest strategic importance when it comes to the blockchain space. As justification, he cited “thousands of hours,” that the firm had spent in the investigation of Binance.

Texas-Based Multicoin Capital Sees Large Investment From Binance

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Blockchain Transaction Tested on GOMX-4 Constellation

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Blockchain Transaction Tested on GOMX-4 Constellation

According to the latest announcement, JP Morgan, an American multinational investment bank headquartered in New York City, has tested a transaction of Blockchain in space. This Blockchain transaction testing is carried out by a Danish space firm named GomSpace’s satellites.

It was reported by GomSpace that it is the world’s very first bank-led tokenized value transfer in space, executed through smart contracts on a blockchain, established between satellites orbiting the earth.

Talking about GomSpace, it is a space company that aims to be engaged for space systems and services in the global market by introducing new products depending on innovation within professional nanosatellites. 

Blockchain is a peer-to-peer, decentralized distributed ledger technology that records data in individual blocks linked to one another using cryptography. This technology is known to offer immutability, transparency, security, and privacy. 

This Discovery Opens the Opportunity to a Potential P2P Satellite Marketplace

The report announced that a Blockchain transaction was executed between two GOMX-4 satellites in the low Earth orbit (LEO), which validated the approach towards a decentralized network where communication with the earth is not required.

As private companies prepare to launch their own constellations, the report mentions that in the long term, this discovery opens the opportunity to a potential P2P satellite marketplace, allowing data transfers between satellites against payment. 

GomSpace CEO Niels Buus expressed his views regarding his team’s support for J.P. Morgan. According to Buus, he is glad to have supported them as they explored this novel use case of a space-based payment infrastructure by implementing blockchain technology.

Blockchain Era has Begun 

Gone are the days when Blockchain technology was confined to finance and cryptocurrency. Today, this technology’s potential and relevance in other areas of business are coming under the limelight. Last year in July 2020, it was announced that the first use of Blockchain in renewable energy happened in Australia.

Apart from this, recently, it was announced that Twitter has considered whether to add bitcoin to its balance sheet. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Blockchain Transaction Tested on GOMX-4 Constellation

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Bitcoin Price Prediction: BTC/USD Recently Touches the Support of $46,000; Watch Out for the Next Move

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Bitcoin (BTC) Price Prediction – March 2

After plummeting from $46,000 to $43,000, the Bitcoin price now manages to hold onto the critical support level of $46,000 once again.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $55,000, $57,000, $59,000

Support Levels: $43,000, $41,000, $39,000

BTCUSD – Daily Chart

BTC/USD may undergo an aggressive bull run in the coming sessions, with their upside price targets lurking anywhere between the most important $60,000 and $65,000 resistance levels. However, Bitcoin typically pullbacks after testing the 21-day moving average to touch the line. Later, the cryptocurrency breaks bearish towards the 9-day moving average where we can call a support base before retracing its move upward to where it is currently trading at $48,780.

What to Expect from Bitcoin

The past few days were somewhat similar, as BTC/USD even dipped to $43,000 support. Meanwhile, since BTC/USD plummeted in value last week by more than $13,000 in a few days, the king coin is struggling to recover as it taps the $50,000 level again. However, the bulls are expected to start pushing the cryptocurrency towards the north. For this to come to focus, the 9-day MA must be able to cross above the 21-day MA.

However, if the market price moves above the moving averages, it may signal a jump towards $50,000, while breaking below the lower boundary of the channel may see Bitcoin drop to $45,000. Therefore, any bullish movement towards the north could locate the resistance levels at $55,000, $57,000, and $59,000 while the supports lie at $43,000, $41,000, and $39,000 as the technical indicator RSI (14) moves around 54-level.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

Bitcoin’s price is now trading around $49,029 after rebounding from $48,342. Looking at the 4-hour price chart, we can see that the bullish supply coming up slowly in the market, but the bears are also trying to drag the price below the 9-day moving average. Meanwhile, the $46,000 support level and below may come into play if BTC breaks the moving averages.

BTCUSD – 4 Hour Chart

However, if buyers can strengthen and push the market price above the upper boundary of the channel, we can expect a retest of $50,000 resistance level. Therefore, breaking the mentioned resistance could also allow the bulls to test the $52,000, and above. However, BTC/USD is consolidating currently and moving sideways on the medium-term outlook as the RSI (14) moves in the same direction.

Bitcoin Price Prediction: BTC/USD Recently Touches the Support of $46,000; Watch Out for the Next Move

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Wolfram Blockchain Labs Provides New Oracle to Tezos

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Wolfram Blockchain Labs Provides New Oracle to Tezos

According to the recent announcement, Wolfram Blockchain Labs is adding assistance for Tezos, providing a two-way interface with the Blockchain.


As per the announcement, Tezos gets a new oracle through Wolfram Blockchain Labs integration providing aid for Tezos blockchain data within the Wolfram Language. Wolfram Language is known to allow Blockchain developers to obtain analytical data from the Blockchain. 

The language is developed for sophisticated mathematical queries that evaluate smart contract operation, and the integration aims to make smart contract implementation on Tezos simpler.

Today, Wolfram Blockchain Labs appears to be one of the most dynamic Blockchain tech companies.

Wolfram Blockchain has Developed an Oracle for Tezos

Apart from adding support for Tezos on its platform, Wolfram Blockchain has also developed an oracle that would supply its smart contracts with data available from Wolfram Alpha. This development of oracle would make Wolfram Blockchain the third oracle provider on the network, the first being Chainlink, and the second being Harbinger.

Tezos has made several moves aimed at attracting smart contract developers and DeFi projects.

In November 2020, it was announced that Tezos is implementing a protocol upgrade that reduces smart contract gas fees by approximately 75%.

The report also mentions that Wolfram integration adds a vital component to a smart contract developer’s toolkit; still, the integration remains in its early stages and has a relatively basic set of features. 

The CEO of Wolfram Blockchain, Jon Woodard, expressed his views regarding his extended plans. According to him, he has plans to extend these capabilities in various vital areas such as analytics, computational facts delivery, and blockchain educational information.

In his words, Wolfram Blockchain Labs is also exploring the possibility of becoming a Tezos “Baker,” its term for stakers.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Wolfram Blockchain Labs Provides New Oracle to Tezos

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