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Filecoin(FIL)
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$5.7582
(-8.54%)
0.00020698 BTC
Market Cap (Rank#29)
$2,343,874,891
84,250 BTC
Vol 24h
$215,084,540
7,731 BTC
Circulating Supply
407,052,352
Max Supply
44,584,205
6h ago • zycrypto
DefiLlama Undergoes A Fork Amid Concerns That Team Members Have Gone Rogue
DefiLlama was in the eye of the storm as the project underwent a sudden split triggered by a potential token launch.
9h ago • cointelegraph
GameFi project Gala files $28M lawsuit against pNetwork
The lawsuit stems from a million-dollar exploit in November 2022 that allegedly took place due to a private key leak.
10h ago • cointelegraph
FTX debtors file lawsuit against exchange's Bahamian arm on ownership of property
The lawsuit claimed FTX Digital Markets was an "economic nullity" within the FTX Group "created as a front to facilitate a conspiracy to defraud the Debtors’ customers".
10h ago • cointelegraph
Cointelegraph 2023 Top 100 full list now mintable as digital collectibles
Loved the Cointelegraph 2023 Top 100? Readers can grab the profiles as NFTs.
13h ago • cryptodaily
DefiLlama Forks Over Internal Dispute
The disagreement between the founders and a developer over the LLAMA token resulted in the forking of the DefiLlama blockchain on March 19.
Token Launch Splits DeFi Platform
One of the employees on the DefiLlama team forked the decentralized finance analytics platform over the weekend over a conflict regarding the company’s plans to launch a token. It all started when the founders decided to launch the LLAMA token. The matter was highly contested by a developer from the team, who claimed that the employees do not support the token launch, which is being pushed by the founders.
From DefiLlama To Llama.fi
On March 19, the developer, going by the pseudonym 0xngmi, announced on Twitter that the team would be forking the platform due to a “hostile takeover” orchestrated by the founders who are launching a token without employee support.
They tweeted,
“The DefiLlama team is forking Defillama…There is an ongoing attempt to launch a token that does not represent us. We don't want to be associated with it. Use http://llama.fi and @llamadotfi instead!”
The announcement clearly reveals that the team working on the DefiLlama platform over the last three years does not agree with the new course of action and has thus chosen to fork the platform and start afresh on Llama.fi instead.
Support For Founders
On the other hand, the corporate team at DefiLlama has called out the action of the developers. The Llama Corp. team said,
“0xngmi and a few team members have gone rogue, they are actively looking to seize DefiLlama IP and community while inaccurately claiming the rightful owner to be doing a hostile takeover.”
The founders of DefiLlama, Charlie Watkins and Ben Hauser, have received support from other key individuals involved in the DeFi space. Prominence Yearn.finance founder and DeFi architect-extraordinaire Andre Cronje extended his support for the co-founders, claiming that they have taken the step necessary for the financial well-being of the project.
He stated,
“Easy to be ideological when you aren’t paying the bills. Charlie has been out of pocket funding all of defillamas expenses for years, it isn’t cheap. Watching everyone turn on everything he has done is disgusting. Him trying to stop the bleeding isn’t greed, it’s sustainability. Let’s see how long they last without his ‘free money.’ They’ll be raising or adding ads or a token soon enough.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
15h ago • cryptodaily
Bitcoin sails on upwards unperturbed by bank collapses
After losing 3 bank providers for the crypto industry in quick succession, Bitcoin has continued to move up in price regardless.
Where is the crypto price plunge?
It might have been thought that to all intents and purposes crypto would have plumbed the depths in price, given that the sector lost its 3 biggest fiat on/off ramps in the space of just several days.
When the FDIC took over and shuttered Signature bank, the government, its regulators, and the banking industry, must have breathed a massive sigh of relief while thinking that at least this drastic action will have put paid to the crypto sector, at least for the time being.
However, nothing of the kind appears to have happened as yet. Bitcoin is still serenely climbing higher, having got to $28,200 at time of going to press, and is seemingly ready to take on the next resistance at around $28,700.
Gold, a barometer of the failing banking system
Stock markets have opened this morning and Gold has just crossed the $2,000 level. The all-time-high at around $2,077 is surely ready to be broken. One obvious reason for this is that Gold is real money, and not a fiat paper currency that loses its value over time.
Gold also has no counterparty risk, and just like Bitcoin, it doesn’t need any middlemen to be able to fulfil a contract. It is not the liability of anyone or any entity, and no matter what happens economically, it will hold its value, just like it’s been doing for millenia.
Bitcoin is Gold, and some …
Bitcoin has the same attributes as Gold, with the addition that it is far more scarce. It is digital, so it can be sent to anyone worldwide in a very short time, and the fees for doing so are very small.
It is perfectly portable, and a holder will have access to it no matter where in the world they might go. It crosses national borders without any government, their agencies, or banks being able to stop it.
Priceless and difficult to obtain
These attributes are so valuable as to be almost priceless to the individual who wants to protect themselves from the appalling excesses of the fiat-backed monetary system.
Only the direct intervention of central banks has managed to prop up the banking system for now. Trillions of dollars in value have been promised or given to failing banks, further robbing ordinary people of their purchasing power.
How much longer the system can continue to endure is anyone’s guess, but fail it will. Bitcoin, Gold, and Silver are the only sound monies. Obtaining them is going to become ever more difficult.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
16h ago • coindesk
FTX’s Bahamas Arm a ‘Nullity’ That Should Be Stripped of Assets: Court Filings
The Caribbean arm is a mere shell to further Sam Bankman-Fried’s fraud, the company alleged.
16h ago • cryptodaily
FTX Firms Were $6.8B In The Hole, Crypto Daily TV 20/3/2023
In Todays Headline TV CryptoDaily News:
Close to 190 banks could face Silicon Valley Bank's fate.
On the heels of Silicon Valley Bank’s collapse, 186 more banks are at risk of failure even if only half of their depositors decide to withdraw their funds, because the Federal Reserve’s aggressive interest rate hikes to tamp down inflation have eroded the value of bank assets such as government bonds and mortgage-backed securities.
Huge crypto fraud losses.
According to the FTC’s latest report, consumers reported losing over $1 billion to crypto fraud from January 2021 through March 2022. Crypto investment scams, with the promise of high returns, have resulted in one out of every four dollars lost.
FTX firms had $6.8B hole in balance sheet at time of bankruptcy.
Sam Bankman Fried’s crypto empire had a $6.8 billion shortfall in its balance sheet when it filed for bankruptcy last November. That included a deficit of $10.6 billion in the main FTX.com enterprise, while sister trading firm Alameda Research had net assets of $2.6 billion, and FTX Ventures had net assets of $1.3 billion.
BTC/USD exploded 4.0% in the last session.
The Bitcoin-Dollar pair exploded 4.0% in the last session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 26027.6667 and resistance at 28047.6667.
The MACD is currently in the positive zone.
ETH/USD skyrocketed 2.1% in the last session.
The Ethereum-Dollar pair skyrocketed 2.1% in the last session. According to the CCI, we are in an overbought market. Support is at 1698.7967 and resistance at 1863.7167.
The CCI points to an overbought market.
XRP/USD exploded 4.8% in the last session.
The Ripple-Dollar pair exploded 4.8% in the last session. The CCI indicates an overbought market. Support is at 0.3575 and resistance at 0.3977.
The CCI is signalling an overbought market.
LTC/USD skyrocketed 1.9% in the last session.
The Litecoin-Dollar pair skyrocketed 1.9% in the last session. The CCI is giving a positive signal. Support is at 78.8367 and resistance at 89.9367.
The CCI is currently in positive territory.
Daily Economic Calendar:
US 3-Month Bill Auction
Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. The US 3-Month Bill Auction will be released at 15:30 GMT, the US 6-Month Bill Auction at 15:30 GMT, Germany's Producer Price Index at 07:00 GMT.
US 6-Month Bill Auction
The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive.
DE Producer Price Index
The Producer Price Index measures the average changes in prices in primary markets by producers of commodities in all states of processing.
EMU Trade Balance
The Trade Balance is the total difference between exports and imports of goods and services. A positive value shows a trade surplus, while a negative value represents a trade deficit. The Eurozone's Trade Balance will be released at 10:00 GMT, Germany's German Buba Monthly Report at 11:00 GMT, the UK's Rightmove House Price Index at 00:01 GMT.
DE Buba Monthly Report
The German Buba Monthly Report, released by the Deutsche Bundesbank, contains relevant articles, speeches, statistical tables, and provides detailed analysis of current and future economic conditions.
UK Rightmove House Price Index
The Rightmove House Price Index provides a sample of residential property prices in the UK. It shows the strength of the UK housing market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day ago • cryptodaily
Fidelity Expands its BTC, ETH Trading to Most Retail Accounts
Amid a severe banking crisis, Fidelity Investments has opened access to bitcoin and ether trading to all its retail traders.
Amid several banks’ closures recently, Fidelity Investments has stepped in to fill the gap created by crypto-friendly banks to bridge the divide between digital and traditional finance. The Fidelity Crypto platform was previously only available to its institutional, and a select few waitlisted customers were made available to all the firm’s clients earlier this month.
Forbes reports that individual investors can now buy and sell both bitcoin (BTC) and ether (ETH) and use custodial and trading services offered by Fidelity Digital Assets. Fidelity’s clients still cannot transfer cryptocurrencies to or from their Fidelity accounts, and the firm has yet to provide a timeline as to when that might be possible.
Trading services are only available to United States citizens over the age of 18 who live in one of the 36 states where Fidelity Digital offers its services.
Fidelity Now Offers “Commission-Free” Trading
The brokerage firm announced the launch of Fidelity Crypto at the end of last year. The firm said through Fidelity Crypto, it will offer bitcoin and ether trading commission-free but will add a 1% fee to each transaction. Fidelity labels the fee as a spread and explains it as “the difference between your execution price and the price at which Fidelity Digital Assets fills your order.” The spread will be visible in the client’s execution price.
Fidelity Urged to Stop its Crypto Activity
Fidelity’s crypto activities have not been met without criticism. In December, three U.S. senators sent a letter to Fidelity CEO Abigail Johnson requestion that the firm drops its 401(k) Bitcoin offering. The senators cited the fall of the crypto exchange FTX as the reason the firm revised its Bitcoin offering to retirement savers.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day ago • cointelegraph
DefiLlama forked as internal dispute unfolds
A disagreement over the launch of a LLAMA token led core employees to fork DefiLlama blockchain on March 19.
3 days ago • coindesk
FTX Firms Had $6.8B Hole in Balance Sheet at Time of Bankruptcy
The group of companies had debts of about $11.6 billion against $4.8 billion in assets, according to a presentation filed by its advisers.
3 days ago • coindesk
This Crisis Will Define the Future of Money
The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly worth $2 trillion and Switzerland’s central bank bailing out Credit Suisse to the tune of $54 billion, the echoes of prior crisis in 2008 and 2013 are loud.
3 days ago • zycrypto
Bitcoin Hurtles Back Above $26,000 As SVB Financial Group Files For Bankruptcy
Bitcoin (BTC) has skyrocketed over the past day as cryptocurrency prices are buoyed amid banking woes in the United States.
3 days ago • cryptodaily
Sued Over FTX Promotions: The Case Of Finance YouTubers
A class action lawsuit is claiming that prominent finance Youtubers who promoted the FTX exchange on their channels should be held accountable.
Sued For Promoting “Unregistered Securities”
Several popular finance YouTubers have landed in legal hot water with a new class action lawsuit that seeks to hold them responsible for promoting the now-defunct crypto exchange FTX on their channels.
The statement filed by the plaintiff points out,
“Though FTX paid Defendants handsomely to push its brand and encourage their followers to invest, Defendants did not disclose the nature and scope of their sponsorships and/or endorsement deals, payments and compensation, nor conduct adequate (if any) due diligence.”
The lawsuit also claims that the named defendants conspired with FTX to mislead customers into believing that funds held on the platform were safe and not under investigation as unregistered securities. The matter of cryptocurrency being classified as “unregistered securities” have been highly controversial, with the SEC gunning for this classification. If they are successful, then all future promoters of any crypto product would require to disclose the amount they were paid for every promotion.
Gunning For Celebs And Influencers
The ones named in the class action lawsuit are Graham Stephan, Andrei Jikh, Jaspreet Singh, Kevin Paffrath, Ben Armstrong, Brian Jung, Jerremy Lefebvre, and Tom Nash. Some of these YouTubers have millions of subscribers on their channels, and their videos on FTX have garnered hundreds of thousands of views. Furthermore, the talent management company handling the promotion of FTX, i.e., Creators Agency LLC and its founder Erika Kullberg have also been named in the lawsuit.
The plaintiff Edwin Garrison is a private investor who has filed multiple lawsuits against individuals and public figures connected to FTX, like Tom Brady, Stephen Curry, Shaquille O’Neal, Larry David, Kevin O’Leary, and other celebrities who had promoted FTX. He has also filed a lawsuit against former FTX CEO Sam Bankman-Fried.
Government Bodies Taking Strict Action
Bankman-Fried already has several other lawsuits filed against him, including multiple fraud charges from government bodies like the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
The Federal Trade Commission (FTC) clearly states that social media influencers must clearly disclose paid promotions on their videos or posts. Certain influencers and celebrities have even gotten into trouble for not disclosing this aspect of the product they have been paid to promote. For example, Kim Kardashian was charged by the FTC for not disclosing that she was paid to promote EthereumMax’s EMAX token. It cost her $1.26 million in fines for the product promotion, which only brought in $250,000 for her.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days ago • cryptopotato
SVB Financial Group Files for Chapter 11 Bankruptcy Protection as BTC Tapped $27K
Bitcoin soared to $27,000 as the news came out.
3 days ago • coindesk
Silicon Valley Bank's Parent Company Files for Bankruptcy
The company said Friday it had filed for court-supervised reorganization in the United States Bankruptcy Court for the Southern District of New York to preserve value.
3 days ago • cointelegraph
Breaking: SVB Financial Group files for Chapter 11 bankruptcy
SVB Financial Group, the former umbrella entity of Silicon Valley Bank, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York to "preserve value."
3 days ago • coindesk
Genesis Requests Timetable for Sale, Creditor Claims
The company wants to sell off its business after filing for bankruptcy on Jan. 19.
4 days ago • cointelegraph
FTX influencers face $1 Billion class-action lawsuit over alleged crypto fraud promotion
The suit is led by Edwin Garrison and was filed against "FTX influencers," primarily on the YouTube platform.
4 days ago • cryptodaily
Ark Raises $16M For Crypto Fund
Cathie Wood’s Ark Invest has raised $16.3 million despite the market turbulence for a new crypto fund.
ARK US And Cayman Successfully Raise Funds
Innovation-focused fund manager Ark Invest has raised over $16 million for a new crypto fund that will be divided between a domestic account and a Cayman Islands account. This information was released when the company’s filings with the U.S. Securities and Exchange Commission went live. The reported $16.3 million of funds were raised through two separate channels. The first $7.3 million were raised from nine investors by the ARK Crypto Revolutions U.S. Fund LLC. On the other hand, the remaining $9 million were raised from a single investor by the ARK Crypto Revolutions Cayman Fund LLC. The filings revealed that both funds were opened for investments on March 1, 2023. Furthermore, since the target of the fund was labeled “indefinite,” it indicates that its purpose is still open-ended and could be applied to a multitude of investments.
ARK Adding More Shares
According to the filings, Ark Invest also added $20 million in Block shares to its funds in the last week. On top of that, the company had already added around $30 million in Coinbase shares to its funds in February 2023. The staggering bear market has not slowed down Ark Invest. The company has been on a crypto buying spree, as is evident from its rampant share purchasing.
The company’s CEO, Cathie Wood, had been steadfastly bullish about the overall industry, especially Bitcoin, even through the struggles of 2022. In early 2022, Ark published its Big Ideas report, where it predicted that Bitcoin would hit $1.36 million by 2030.
In an excerpt from the report, Wood writes,
“We believe bitcoin is the most profound application of public blockchains, the foundation of “self-sovereign” digital money. The Bitcoin protocol has enabled two other revolutions: The Financial (DeFi) and Internet (Web3) Revolutions.”
CEO Still Bullish On Crypto
Her company had taken advantage of the low prices of the bear market and snatching up cryptos left and right. For example, last November, under Wood’s leadership, Ark bought over 1.3 million shares in Coinbase at a very low price of around $40 per share. At that point, the company held around 4.7% of Coinbase’s total outstanding shares, the majority of them held in its flagship fund, ARK Innovation ETF. Whether her “buying the dip” policy will pan out in the long run is to be seen.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days ago • cryptodaily
$HNT Falls To A Two Month Low, Crypto Daily TV 16/3/2023
In Todays Headline TV CryptoDaily News:
Helium's HNT crypto token slides to 2-month low.
Helium’s HNT token dropped to its lowest level in two months after crypto exchange Binance.US said it will delist the cryptocurrency on March 21.
In Ukraine, Crypto Finds a Purpose
The UN’s refugee agency has partnered with blockchain and money transfer companies to get vital aid to people displaced by conflict.
Trading ranges for BTC, ETH reflect diverging views.
Trading ranges for bitcoin and ether moved in opposite directions. Bitcoin’s higher low suggests investors in the largest crypto by market value are upbeat, but ether’s increased trading range may reflect bearish concerns.
BTC/USD dropped 0.6% in the last session.
The Bitcoin-Dollar pair dropped 0.6% in the last session. The CCI indicates an overbought market. Support is at 22722.6667 and resistance at 27444.6667.
The CCI points to an overbought market.
ETH/USD plummeted 2.3% in the last session.
The Ethereum-Dollar pair plummeted 2.3% in the last session. The Stochastic indicator is giving a positive signal. Support is at 1589.761 and resistance at 1831.821.
The Stochastic indicator is currently in the positive zone.
XRP/USD plummeted 2.7% in the last session.
The Ripple-Dollar pair dove 2.7% in the last session. The Stochastic indicator is giving a negative signal, which matches our overall technical analysis. Support is at 0.353 and resistance at 0.3967.
The Stochastic indicator is currently in negative territory.
LTC/USD dove 8.5% in the last session.
The Litecoin-Dollar pair plummeted 8.5% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 74.921 and resistance at 92.641.
The Ultimate Oscillator is giving a negative signal.
Daily Economic Calendar:
AU Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market. Australia's Unemployment Rate will be released at 00:30 GMT, Australia's Employment Change at 00:30 GMT, the US Initial Jobless Claims at 12:30 GMT.
AU Employment Change
The Employment Change is a measure of the change in the number of employed people, which in turn shows the strength of the Labour market.
US Initial Jobless Claims
The Initial Jobless Claims is a measure of the number of people filing first-time claims for state unemployment insurance.
JP Industrial Production
Industry is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines and utilities are measured by the index of the industrial production. Japan's Industrial Production will be released at 04:30 GMT, Japan's Capacity Utilization at 04:30 GMT, the Dutch Unemployment Rate at 05:30 GMT.
JP Capacity Utilization
The Capacity Utilization is the percentage of production capacity which is actually used over a short time period. It is indicative of overall growth and demand.
NL Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days ago • cryptodaily
South African Court Dismisses Ex-Monero Dev's Extradition Appeal
Former Monero lead maintainer Riccardo Spagni, who has been extradited from the U.S. to South Africa in July last year, was served with a denial for his appeal to declare his extradition as unlawful.
According to local reports from South Africa, the country's Supreme Court has ruled that Spagni was not able to provide sufficient grounds for his claim to invalidate the extradition process. Beforehand, Spagni's legal representatives have argued against the extradition, leaving the former Monero lead developer in a "precluded" condition, which means that through the legal process, he has agreed to voluntarily waive his rights to challenge the process on his own, given that legal counsel was made available for him.
Spagni's previous resistance was precluded because of his own agreement to return to South Africa under specific conditions, which included the preservation of his "release on warning" rights, with the modality of being subsequently cancelled by the court (in this case under the South African jurisdiction).
Right before Spagni was extradited, he filed a suit with the SCA (Supreme Court of Appeals). The suit, which was initially dismissed, declared a contestation of the Western Cape High Court's process in handling the extradition hearing. The contention was primarily centered on the argument that the director of public prosecutions should not have submitted the extradition request in the first place.
Spagni was met with the following response from South African authorities, declaring his argument to be moot:
“It found that the appellant had failed to make out a case for this court to determine the validity of his extradition process as that would have no practical effect. The appeal was thus dismissed on mootness alone,” explains a summary of the proceeding.
Reports have also indicated that Spagni's trial will be continued at Cape Town's regional magistrate court.
Launched in 2014, Monero (XMR) is a privacy-focused, open-source cryptocurrency built off of the CryptoNote protocol initiated by Nicolas van Saberhagen. By design, Monero is built to ensure a high degree of anonymity, security, and decentralization. This means that Monero enables financial privacy for its users by obfuscating transaction details, making it difficult for third parties to trace transactions or identify the parties involved.
Like other cryptocurrencies, has attracted the attention of regulators due to its potential use in illicit activities, tax evasion, and money laundering. However, there is no specific international policy or framework solely aimed at regulating projects like Monero. In some countries, Monero and other privacy-focused crypto projects have been slammed with stricter regulations, or have been delisted from exchanges due to their privacy features, which make transactions difficult to trace. For example, South Korea introduced stricter regulations on privacy coins, leading to their delisting from several exchanges in the country. Japan has also witnessed the delisting of privacy-focused cryptocurrencies from multiple exchanges due to regulatory pressure.
At a broader level, international organizations such as the Financial Action Task Force (FATF) have issued guidelines to help countries establish regulatory frameworks to mitigate the risks associated with virtual assets, including cryptocurrencies like Monero. The FATF recommendations include measures for combating money laundering and terrorist financing, which are applicable to virtual assets and Virtual Asset Service Providers (VASPs). In relation, localized regulatory bodies have also taken action on crypto and digital assets, with somewhat over-the-top actions such as the UK FCA's recent sanctions against unregulated crypto ATMs.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days ago • cointelegraph
SBF's inner circle received $3.2B, mainly from Alameda: Court filings
Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research.
4 days ago • cryptodaily
Worldcoin Launches ZK-Based Identity Solution
The Worldcoin project, a crypto platform created by Sam Altman (co-founder of OpenAI), has announced the launch of World ID, a digital identity solution based on zero-knowledge proofs.
The announcement also opens the project's clients to a waitlist for the software development kit (SDK) which will be made available to select developers. This marks the firm's initial venture and further commitment to providing privacy-first digital identity verification on the internet. According to Worldcoin, the solution will also be supporting use-cases for user anonymity, aside from being designed as a privacy-first implementation. Documentation for the project is already publicly available for review.
Introducing World ID, a new privacy-first digital identity that brings global proof of personhood to the internet.Find out more and sign up for the SDK ⬇️https://t.co/jD7ztwbeGY
— Worldcoin (@worldcoin) March 14, 2023
Altman, who worked on Worldcoin alongside his other high-profile tech projects, is also well-known for his role as the former president of the startup incubator Y Combinator and as the co-founder and current CEO of OpenAI, an artificial intelligence research laboratory. Altman co-founded OpenAI alongside Elon Musk, Ilya Sutskever, Greg Brockman, and Mira Murati.
The project describes World ID as a sort of "global digital passport" which users may then store on their mobile device's local memory. On the outset, this means that users are provided with a way of proving their "humanness" and unique identity without the requirement of identifiable (and hence: unsecure) information such as phone numbers and addresses. These are all used for tracking in websites we often use, stored as cookies into a server's database. This implementation is similar to the introduction of ZK identity which Polygon unveiled last week.
Given the launch, World ID will be introduced as a new standard for zero-knowledge identity across the web. The firm has also initiated a waitlist for its World ID SDK, which will enable developers to integarate the identity verification system into their applications to screen out bots.
"Artificial intelligence is presenting new opportunities across all industries and World ID aims to bring global proof of personhood to the internet," shares Worldcoin.
The firm also went on to highlight the statistical conditions for creating such a solution (and perhaps more importantly, why it is necessary at a time such as ours): more than 50% of the global population lacks access to verifiable identification with a legal basis. Worldcoin's World ID initiative seeks to address this, and this writer feels that it's a great fit, especially given the advent of Web3, because it is a solution that moves forward from a decentralized approach.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Filecoin?
The live price of Filecoin (FIL) today is 5.7582 USD, and with the current circulating supply of Filecoin at 407,052,352 FIL, its market capitalization stands at 2,343,874,891 USD. In the last 24 hours FIL price has moved -0.5729 USD or -0.09% while 232,696,253 USD worth of FIL has been traded on various exchanges. The current valuation of FIL puts it at #29 in cryptocurrency rankings based on market capitalization.
Learn more about the Filecoin blockchain network and how it works or follow the price of its native cryptocurrency FIL and the broader market with our unique COIN360 cryptocurrency heatmap.
Filecoin is a peer-to-peer (P2P) decentralized storage network built on the Interplanetary File System (IPFS) protocol. It dubs itself as a project ‘designed to store humanity’s most important information’ – large volumes of critically important public data, for instance, historical docs, literature data, scientific papers, encyclopedias, creative commons data sets and more. Both Filecoin and IPFS are founded by American computer scientist Juan Benet, founder of Protocol Labs.
While the Filecoin mainnet went live in October 2020, its native token FIL was launched via an ICO (Initial Coin Offering) in 2017. Filecoin was created with the idea of bringing an economic incentive system and an independent marketplace functionality to the IPFS network.
Unlike big cloud storage organizations like Cloudflare, Google Drive and AWS (Amazon Web Services) which are fairly centralized in nature, Filecoin aims to tap into a large pool of independent storage providers who can offer storage space for a fee (in FIL crypto) to the network’s users. It leverages the decentralized model to safeguard data’s location, facilitating its easy retrieval and censor-free management. Anyone can store their data, and anyone can offer storage space.
The workings and governance of Filecoin are overlooked by an independent organization named Filecoin Foundation, dedicated to continuous development and evolution of the protocol, as well as its related technologies.
FIL price
FIL price stayed mostly in the vicinity of $30 after the Filecoin mainnet launch in October 2020, till the year-end. It closed 2020 at a value of around $24 per token. A market-wide bullish sentiment saw FIL coin gaining some upward momentum in February 2021. It rallied upwards for almost two months, peaking at an all-time high of $238 on April 1, 2021. FIL’s fully diluted valuation stood at close to $470 billion at that point.
Thereafter, the price of FIL saw slow movement during the months that followed, dropping to $40 by July 21, amid a broader crypto market corrective phase.
FIL coin’s next noteworthy surge came in the early phase of 2021’s second crypto rally in September. FIL price had regained some lost ground in August and made a gradual ascent to reach $120 by Sept. 5. However, it could not sustain the $100+ price level for long, and slid below $100 within three days. According to our FIL live price chart, the coin lost most of its 2021 gains in the first half of 2022, breaching multiple support levels, and dropping to an all-time low of $6.71 on May 12, 2022.
How FIL works
Filecoin works based on an open data market model, wherein any internet-connected computer (called ‘storage miner node’) can sell its storage space to Filecoin users (clients, developers etc.) looking to rent. The renters pay fees in FIL tokens, to the storage miner nodes. While selecting a specific storage miner, users can choose customized storage options based on their redundancy, speed and cost requirements.
The storage providers are required to implement the Filecoin protocol on their systems, to get access to the open market where they can compete with other providers to sell their services.
Filecoin uses a novel combination of Proof of Spacetime (PoSt) and Proof of Replication (PoRep) as its consensus algorithm, to secure its network. Storage miner nodes are continuously competing with each other to bag storage contracts from network users, for specific lengths of time. In addition, they’re required to pledge collaterals in three different forms – initial commitment, vesting block rewards and incentive alignment between provider and client – to become a part of the Filecoin ecosystem.
Once a network user and a storage miner node agree on a deal, the latter holds the former’s data in a sector (on the hard drive) and ‘seals’ that space to create a unique copy of the data. A PoRep is created as a result of this sealing, which is validated only once.
After a PoRep is created, the PoSt algorithm runs continuously to determine and ensure uninterrupted storage of the user’s data on the storage miner’s system. The miner is penalized if it can’t prove continued storage at any given point, during the agreed-upon timeframe, thus ensuring good behaviour on their part.
FIL, the native token of Filecoin, is used for transacting on and participating in the Filecoin network. Users pay storage providers in FIL, while the latter also use the token as collateral to take part in the Filecoin’s operations.
FIL news, updates and highlights
In an important FIL news, it was announced in October 2021 that Filecoin has become the official storage collaborator for the Flow blockchain. The collaboration aims to empower Flow’s users and developers by accelerating end-to-end ownership of NFTs and their associated media assets, through easy decentralized storage.
Filecoin again made headlines in May 2022 when Filecoin Foundation announced a partnership with Defense contractor Lockheed Martin (LMT) to explore the possibility of hosting IPFS storage nodes in space, in some satellite or space-faring platform. The step will help satellites play the role of data relays, and reduce the latency involved in communication with Earth-based servers.
Frequently asked questions about FIL
Can I stake or mine FIL?
Yes, it’s possible to both mine and stake FIL tokens. In order to do that, you’ll need to run a storage miner node on the Filecoin network.
What are some of the best wallets for FIL coin?
Filecoin recommends using the Lotus or Glif wallet implementations on Ledger hardware wallets to store your FIL tokens. Other wallets for FIL storage include Trust Wallet, Fox Wallet, ImToken, Cobo, BlitsWallet and Math Wallet.
What can I do with my FIL coins?
You can use your FIL coins to pay for Filecoin’s storage services or stake them to set up a storage miner node. Alternatively, the coin can also be traded on established crypto exchanges.
How can you buy FIL cryptocurrency?
You can buy FIL coins with fiat or cryptocurrencies on well-known crypto exchanges. Look out for FIL trading pairs with coins like ETH, USDT, BTC, XRP and more.
| Filecoin Price | 5.7582 USD |
| Market Rank | #29 |
| Market Cap | 2,343,874,891 USD |
| 24h Volume | 215,084,540 USD |
| Circulating Supply | 407,052,352 FIL |
| Max Supply | 44,584,205 FIL |
| Yesterday's Market Cap | 2,313,995,204.29 USD |
| Yesterday's Open / Close | 6.2577 USD / 5.6848 USD |
| Yesterday's High / Low | 6.3566 USD / 5.6656 USD |
| Yesterday's Change | -0.09% ( 0.5729 USD ) |
| Yesterday's Volume | 232,696,253.02 USD |
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