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Request Network price, market cap on Coin360 heatmap

Request Network(REQ)

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$0.093036
(-0.32%)
0.00000548 BTC
Market Cap (Rank#205)
$93,020,214
5,477 BTC
Vol 24h
$5,886,988
346.641 BTC
Circulating Supply
999,830,316.04
Max Supply
999,877,117
3 days agocryptodaily
What is the future for privacy coins?
A leaked EU proposal to restrict privacy enhancing coins could be a serious worry for this crypto niche. With regulators seemingly on the warpath against any form of monetary privacy, things do not look good for privacy projects. TornadoCash is one example of harsh law enforcement whereby a developer for the project has ended up facing jail time just for writing some of the code. Why privacy-enhancing coins? The blockchain is by definition completely public and transparent. Every transaction that is made is stored forever and anybody can see which wallet it is sent from and which wallet received it. However, in spite of the advantages of transparency, these come with the disadvantage that every single transaction made by someone can be transparently viewed - no matter how private or potentially embarrassing it might be. Those viewing your transactions could be anyone, including your boss who knows your salary history to the exact dollar - pretty disadvantageous for your next salary negotiation. Or how about nefarious actors? Fraudsters, thieves and any other criminals would be able to see how much you are worth and if it’s worthwhile kidnapping you in order to extract your private keys to the wallets you own. The long and short of it is that blockchain technology is not going to be used if this means that people’s financial history is made public. Therefore, this is where privacy-enhancing coins come in. There are various ways in which these work. Some utilise mixers that jumble transactions in order to conceal the wallet identities of the senders and receivers. Cryptographic technologies such as zero-knowledge proofs, homomorphic encryption, and multiparty computation are used to obfuscate the data and make it impossible for any third party to unravel. Why the EU would want to ban privacy-enhancing coins Privacy-enhancing technology is extremely complex and it could easily be imagined that regulators just wouldn’t have the technical know-how with which to grasp and fully understand everything, let alone be able to competently lay out regulations that can keep up with such a fast-moving technological space. The EU view will likely be that privacy-enhancing coins will make it far more difficult to uncover their potential use for money laundering and other illegal activities. The leaked EU proposal The part of the leaked draft that is causing some consternation in crypto circles is the following: “Credit institutions, financial institutions, and crypto-asset service providers shall be prohibited from keeping …anonymity-enhancing coins” This is suggesting that centralised exchanges etc. will not be able to list privacy-enhancing coins. The leaked draft also includes that no transaction over 1000 EUR can remain private. KYC would even be required for amounts under 1000 EUR. This would appear to open the door to a complete restriction on user privacy, and would potentially leave their details open to being doxxed. Dusk Network - privacy with full regulatory compliance The goal for Dusk Network is user privacy for transactions while simultaneously remaining compliant with regulations. Dusk highlights that “privacy is an inalienable right, formally enshrined in the Charter of Fundamental Rights here in the EU”. Dusk also posits that in order to comply with EU GDPR rules, all user data stored on the blockchain must have a proper level of privacy built in, which Dusk provides. The Dusk zero-knowledge proof technology builds in compliance at the core level. The protocol is being developed with KYC for DeFi as an absolute requirement, meaning that users remain compliant as they transact. For example, if the user tries to transact, knowingly or unknowingly, with persons in a sanctioned country, the code will not allow the transaction. Dusk Network is well aware that the regulatory environment is constantly shifting, and for that reason it is constantly monitoring the situation. However, it believes that it has the solution to the problem as explained in a Dusk blog post on the matter: “Auditors are able to ensure that what is happening on our network complies to the regulations, in addition to compliance being built in from the core. If you’re not allowed to turn left, there is simply no option to turn left. You don’t need to monitor that people aren’t turning left, as it were. Institutions are able to use our technology without fears of being penalized as we are compliant with the rules, and users are able to have a system that gives them control over their assets, the chance to use them outside of the crypto sandbox, without having to air their dirty laundry for all to see.” Dusk Network is optimistic for a privacy future that includes regulated DeFi. It also holds the belief that traditional finance needs to merge with blockchain and decentralisation in order to bring a better, faster and more innovative system that can adapt to the modern world that we live in. 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 agocryptodaily
Are Non-Custodial Platforms the Only Means of Connecting Your Crypto with Fiat?
The top three crypto exchanges today, Binance, Coinbase, and Kraken, traded a combined $12.3 billion in cryptos during the last 24 hours at the time of writing. That is a significant volume of assets. Chances are you might be on one of these or a plethora of others that serve millions of traders and holders around the world. These exchanges play a crucial part in the crypto-fiat on and off-ramping, acting as a bridge between the two worlds. There is nothing wrong with it though. However, it is the nature of the technology behind these exchanges that is the point of the discussion. Centralized and custodial in nature, they go against the very nature of decentralized cryptocurrencies. Understandably, you would avoid using centralized platforms if you are a die-hard supporter of cryptocurrencies. It wouldn’t be difficult at all since there are several DeFi and DEX services available where you can swap, lend, borrow or stake your assets, without the need for any intermediaries. After all, that’s the whole concept of DeFi. But in a parallel, disconnected world of DeFi, you will find you have no other option but to head to a centralized service if you need to buy or sell your assets using fiat. This is a crucial service that centralized entities provide, enabling on and off ramping. Centralized wallets and exchanges also do more than that. With all the complex crypto movements, handling different tokens, switching between blockchain networks and other functionalities done by these services, many crypto users feel it easier to do use these. Yet, with all their great services, custodial services require users to hand over their assets to the platforms. Non-transparent, these services are then free to use the funds as they please without even informing the true asset owners. When the time comes, these services may not be able to return the tokens. No wonder that trust in centralized services is at an all time low. This brings us back to the original dilemma. Private wallets, though more secure and (of course), giving you full control of your assets, cannot help you liquidate your tokens. A catch-22, this forces people to keep coming back to central services, no matter how reluctant they may be. True, one can find several wallet services online today that support fiat conversions, even going as far as to offer debit cards that can be preloaded with cryptos and fiat to spend anywhere. But a little digging always reflects that these wallets are eventually custodial and therefore, centralized. But in our search, we found an exception. A private wallet that does not have any centralized features and offers the same flexibility of on and off ramping like exchanges and other conversion services. OWNR offers a non-custodial wallet to its users, while letting them buy and sell cryptos using their traditional bank cards. Like its centralized counterparts, OWNR does offer multi token storage (albeit limited to only 10 different assets at the moment) and but supports buy and sell with over 60 fiat. With its own VISA powered prepaid card, the decentralized wallet service has the same great ease of spending cryptocurrencies that industry titans like Binance do, but of course without any custodial issues. The wallet is also expanding at the institutional level, with an affiliate program and an API to allow other platforms to integrate crypto exchange services. Another aspect (something that many other competitors lack) is the regulatory compliance OWNR Wallet has. Registered across 6 jurisdictions, OWNR ensures its 400,000+ users that it complies with all KYC and AML rules. While we believe OWNR seems to have the right blend of decentralized and fiat services, it still has a long way to go. Compliance within more jurisdictions can help solidify its position. Offering increasedsupport for cryptocurrencies and fiat, is something worth considering. 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 agocryptodaily
Italy Considers 26% Tax on Crypto from 2023
Italy will become the latest country to introduce a capital gains tax regime on cryptocurrencies. The new law which becomes applicable in 2023, will impose a 26% capital gains tax on crypto profits and will require crypto holders to disclose current holdings and pay a 14% tax on any such holdings. According to reports by Bloomberg, Italy will become the newest European nation to take advantage of the digital trading scene. In the provision budget for 2023, proposed by the right-wing government led by Prime Minister Giorgia Meloni, a 26% tax will be imposed on capital gains exceeding €2,000 ($2,062) made from trading crypto. Prior to this, cryptocurrencies were treated in the same way as foreign currency by the country’s tax regime. Italy’s ruling coalition, elected in September, also offers taxpayers the option to declare the value of their crypto assets as of January 1, 2023, to which they will be taxed at a 14% rate. The goal of the new tax regime is to stimulate Italian taxpayers to disclose their crypto holdings in their tax regime. The proposed law, which may still be amended in parliaments, will also include disclosure obligations and extends stamp duty to cryptocurrencies. Bloomberg’s report further states that around 1.3 million Italians, or 2.3% of the population, own digital assets. In comparison, in the United Kingdom, 5% of the population owns crypto assets, while 3.3% do in France. Meloni, the country’s first female head of the executive branch of power and leader of the far-right Brother of Italy party, previously campaigned for lower taxes. The Prime Minister’s new, stricter, approach to crypto assets comes as Portugal, one of the European Union’s most pro-crypto regions, revealed in October its plans to tax short-term crypto profits at 28%. The new tax plans come amid a time when a prolonged market crisis precipitated the collapse of many large crypto platforms. The fall of these firms and a wave of bankruptcy that has swept through the market, including the most recent collapse of crypto exchange FTX, have regulators globally increased their scrutiny of the nascent asset class. 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 agocryptodaily
How Can a Blockchain Work without Gas Fees?
Crypto has become an extremely popular opportunity for those who want to make some profit or even earn passive income. In fact, TripleA estimates that there are over 320 million crypto users worldwide, considering that the first cryptocurrency was launched less than 15 years ago. It is a surprising number, indeed. But one thing that crypto users would prefer to avoid is the fees. And with a volatile market, it is highly possible that sometimes, transaction fees may reach amounts no one would like to pay. Thus, let’s talk about gas fees and whether it is possible to maintain a blockchain’s activity without them. What Are Gas Fees? Also called transaction fees (depending on the blockchain), gas fees are the cost a specific blockchain requires users to pay to network validators each time they perform a certain action on the blockchain. Such fees are usually required so that network validators can receive a reward for verifying transactions and adding them to the block. While some transaction fees do not change so often (e.g., on various crypto exchanges), when it comes to actions performed directly on a blockchain, transaction fees can be quite unpredictable. And this can upset crypto enthusiasts, if not even make them think twice before further investing in cryptocurrencies. How Are They Calculated? Gas fees are usually calculated based on one of the most known concepts in the crypto industry: supply and demand. When it comes to blockchain technology, supply is the total computing power provided by validators, while demand is the computational power required to execute the transactions submitted by network users. Usually, transaction fees are calculated in real-time, as the supply and demand can dramatically fluctuate from one moment to another, depending on the number of transactions in the processing stage or the computational power provided by the validators. In order to understand even better how gas fees are calculated, let’s take Ethereum’s example. The gas fee is calculated by multiplying the gas limit and the gas price per unit. Thus, if the gas limit is 10,000 and the price per unit stands at 100 gwei, the Ethereum gas fee would be 10,000*100=1,000,000 gwei (0.001 ETH) SIDENOTE - Gwei (Giga Wei) is a small fraction of Ether (ETH), Ethereum’s native cryptocurrency. 1 gwei is the equivalent of 0.000000001 ETH. Gwei is used to pay transaction fees on the Ethereum blockchain. Where Can You Find Gas Fees? Usually, those aiming to perform a related action directly on a blockchain will be required to pay a transaction fee to validate the process. For instance, any transaction involving an ERC-20 token (Ethereum-based token) will require an additional amount of ETH to pay the gas needed to validate that specific transaction. While the Ethereum blockchain works with gas fees, Bitcoin, for example, calls these payment transaction fees. Whenever Bitcoin is involved in a transaction (e.g., buying or selling Bitcoin), there will be transaction fees. Bitcoin transaction fees usually depend on the data volume of that particular transaction and the speed at which the user wants miners to complete the transaction. What are Gasless Blockchains? While traditional blockchains use gas to complete transactions, gasless blockchains prove that the gas price can go as low as 0. Thus, when operating and using a gasless network, users do not need to pay gas in order to have their transactions approved. Usually, gasless blockchains aim to provide a more positive experience for network users while also solving some of the biggest issues blockchains face. For instance, some projects plan to solve the Scalability Trilemma, which implies that a specific blockchain cannot achieve at the same time all the following goals: scalability, security, and decentralization. Thus, projects like Redlight Finance aim to improve some features in order to provide all the three aspects mentioned before at the same time and with high quality. Final Thoughts Blockchain technology is widely used in the world these days. At the moment of writing, the number of crypto users exceeds 320 million. While the crypto market is constantly increasing, crypto enthusiasts still do not like the idea that they have to pay transaction fees in order to have their blockchain actions validated. However, while some blockchains still require transaction (or gas) fees, gasless blockchains come with another idea implying that even if they use gas, its price will always be 0. Furthermore, such networks aim to solve other big problems in the blockchain world, such as the Scalability Trilemma. 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 agonulltx
Oryen Network The New King Of DeFi, Forget Maker And Convex
Decentralized Finance is referred to as DeFi, but what does it mean? To comprehend DeFi, we must first understand the traditional financial system of the globe, which is defined by a centralized control that limits people’s involvement and frequently prevents them from making use of the greatest services. Either the government or the banks are […] The post Oryen Network The New King Of DeFi, Forget Maker And Convex appeared first on NullTX.
4 days agocryptodaily
SubQuery Announces Integration with Flare Network
Dubai, UAE, 1st December, 2022, ChainwireSubQuery is excited to announce it has extended its data indexing support to Flare Network, the blockchain that aims to connect everything. The partnership was made possible after SubQuery received a grant from the Flare Ecosystem Support Programme. Flare is a blockchain which presents developers with a simple and coherent stack for decentralized interoperability, allowing dApps to serve multiple chains through a single deployment. This cross-chain approach is consistent with SubQuery’s continuous effort to become the universal blockchain indexing tool for web3 developers. Flare supports EVM-based smart contracts, and has data and interoperability infrastructure built natively into the blockchain, providing dApps with highly decentralized price feeds and secure state acquisition from other blockchains. Flare is also building the capability to create decentralized, multilateral and insured bridges between different blockchain networks to achieve trustless interoperability. Hugo Philion, Flare Co-founder & CEO, said, “We admire SubQuery's decentralized data indexing solutions and are excited for them to launch on Flare mainnet. This will complete another important piece of Flare's developer engagement strategy." SubQuery provides decentralised data indexing infrastructure to developers building applications on multiple layer-1 blockchains including the Cosmos ecosystem, Polkadot, Algorand and Avalanche. As an open data indexer that is flexible and fast, it helps developers build APIs in hours and quickly index chains with the assistance of dictionaries (pre-computed indices). Engineered for multi-chain applications, SubQuery allows developers to organize, store, and query on-chain data for their protocols and applications. SubQuery eliminates the need for custom data processing servers, helping developers focus on product development and user experience. “We’re proud to be supporting teams building on Flare Network with our fast, flexible and universal indexing solution. We are excited to deliver another integration that enables Flare developers to index their data faster and easier, and build complex dApps with the help of SubQuery.” — Marta Adamczyk, Technology Evangelist at SubQuery Flare Network developers will benefit from the full SubQuery experience, including the open-source SDK, tools, documentation, developer support, and other benefits developers receive from the SubQuery ecosystem. Additionally, Flare Network is accommodated by SubQuery’s managed service, which provides enterprise-level infrastructure hosting and handles over 400 million requests each day. SubQuery is now focused on launching the Kepler canary network before decentralising and tokenizing the protocol to build the SubQuery Network. If you would like to join SubQuery as a Flare launch partner, please reach out to [email protected] Getting Started The best way is to start with our starter project which contains a running project with an example of all mapping functions. You'll need to install a recent version of @subql/cli via npm i -g @subql/[email protected] If you don't want to see a kitchen sink example, you can follow a step by step guide on how to create a real world example. Follow our quick start tutorial to see how to index all Flare FTSO Rewards on the Songbird network in less than 15 minutes. With SubQuery's Flare integration, we can index the following: BlockHandler: All blocks and their hash and height TransactionHandler: All transactions and their hash, height, and timestamp LogHander: Logs and other on chain messages as a result of transactions made SubQuery's Flare implementation has been designed to operate almost identically to SubQuery's Avalanche, Polkadot, Cosmos, and Algorand support, and in a similar way to the Graph's approach. We've updated the SubQuery Documentation to add Flare specific information. You can begin by following this excellent getting started guide here. Key Resources Developer documentation (SubQuery Academy) Starter project (Github) Example project that indexes FTSO rewards Discord community (including technical support) About Flare Network Flare is a blockchain built to connect everything. It presents developers with a simple and coherent stack for decentralized interoperability, allowing developers to serve multiple communities and ecosystems simultaneously through a single deployment. Flare’s protocols now provide: Scalable EVM-based smart contracts. Highly decentralized price feeds. Secure state acquisition from other blockchains. Flare and ecosystem partners are also building: Insured smart contract token bridging. Non-smart contract token bridging. Secured data relay. Horizontal scaling through a fully interoperable multi-chain ecosystem. Website | Twitter | Discord About SubQuery SubQuery is a blockchain developer toolkit facilitating the construction of Web3 applications of the future. A SubQuery project is a complete API to organise and query data from Layer-1 chains. Currently servicing Polkadot, Avalanche, Algorand, and Cosmos projects, this data-as-a-service allows developers to focus on their core use case and front-end without wasting time building a custom backend for data processing activities. In the future, the SubQuery Network intends to replicate this scalable and reliable solution in a completely decentralised manner. ​​Linktree | Website | Discord | Telegram | Twitter | Matrix | LinkedIn | YouTube ContactDan [email protected]
4 days agocryptodaily
Metaverse Accessibility Via a Metaverse-as-a-Service Model
Experts claim that the metaverse is the new frontier - a virtual playground for brands and individuals to dive into hyper-realistic experiences. But how do brands enter this vast expanse? For starters, building in the metaverse using state-of-the-art technologies like AR, VR, and 3D modeling isn’t everyone’s cup of tea. On top of that, the existing stack of metaverse-focused technologies is largely limited to gamified virtual worlds ridden with limited engagement and integration features. Hence, it isn’t an overstatement to say that the metaverse - at least in its present state - is nothing more than a blank canvas for early adopters to continue with their tests and experimentation. MaaS: The Catalyst for Metaverse Adoption The “as-a-service” model has become the staple of the Web2 ecosystem. These days, no one wants to procure costly hardware and software or install dozens of programs on their devices. From data storage to video editing, the growth of the Software-as-a-Service (SaaS) model is among the many reasons Web2 brands have achieved such immense success. Accordingly, if metaverse wants to succeed, it needs a similar “as-a-service” model. In this context, the metaverse-as-a-service (MaaS) model can be best described as an enterprise-level solution that allows brands and organizations to build, customize, and expand their virtual presence using new-age technologies. MaaS can potentially drive the mainstream expansion and adoption of the metaverse simply because it isn’t just limited to helping big brands build equivalents that compete with established platforms. Instead, it works similarly to the SaaS or pay-as-you-use (PAYU) model, meaning organizations that don’t have extensive technical expertise can quickly build, customize, and expand their own metaverses with the click of a few buttons for a small fee. Even small and medium-sized businesses can leverage the metaverse without formidable capital expenditures. Providing the Building Blocks of Personalized Metaverses To understand how a standard MaaS platform works, let’s consider the example of MetaMetaverse. This platform allows anyone to create a personalized metaverse with built-in games, governance mechanisms, token economics, interactive and gamified experiences, and much more. The platform offers an array of features for users who wish to build their own metaverses without dealing with complex technologies and code. Put simply, MetaMetaverse is what Shopify is for eCommerce businesses. There is no learning curve. All features are easily accessible, including built-in WYSIWYG (what you see is what you get) and drag-and-drop tools. The platform features an extensive catalog of objects, tools, and textures that users can simply select and add to their metaverses. Unlike many MaaS platforms, MetaMetaverse also supports 2D and 3D assets import, meaning creators, be they DAOs, organizations, or individuals, can seamlessly upload assets from outside the platform to further customize and build according to their needs. The platform provides the building blocks needed to build full-fledged virtual economies of scale, including but not limited to eCommerce, decentralized governance, and policies, among other things. From an organizational perspective, every brand wants to create its unique identity - which is difficult to achieve when limited tools are available. Unfortunately, the existing MaaS platforms mainly revolve around solutions allowing organizations to build gated ecosystems that directly compete with existing metaverses. This results in a striking absence of creative and customizable options. By contrast, MetaMetaverse’s infrastructure empowers organizations to create multiple sub-metaverses within their metaverse. They can then resell these sub-metaverses to generate additional revenue. On top of that, organizations can customize the properties of each metaverse they build, including the capability to add preferred names, descriptions, and URLs for each. Then there’s the problem of gamification and interactivity, which directly influence user engagement, user retention, and brand growth. Creating gamified experiences featuring in-game tokens and rewards is complex. MetaMetaverse overcomes this dilemma by enabling organizations to use its existing game mechanics and assets to build highly-functional P2E games. For brands that want to develop personalized games and experiences, the platform supports the option to build custom games using its large asset library, list NFTs that will be displayed in their metaverses and sub-metaverses, and tweak the default settings to their liking. The Way Ahead The only way to achieve widespread acceptance of the metaverse is for MaaS to make it possible for users, especially those not native to blockchain and other emerging technologies, to build their own metaverses. Metaverse-as-a-service (MaaS) makes this possible without requiring any coding, empowering brands and organizations to tailor the features and functionality of their products to their target consumers' specific needs and preferences. When one peers into the future, it is not difficult to foresee that the path of the metaverse will be similar to the road that enabled the SaaS model to go mainstream. Accordingly, once the concept of MaaS becomes the norm, we will witness the true potential of the metaverse. 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
5 days agocoindesk
Canada's Manitoba Province Enacts 18-Month Moratorium on New Crypto Mining: Reports
The local heavily indebted utility has received up to 4.6 GW of requests from miners looking to connect to the grid.
5 days agocryptodaily
Report Predicts Increase In Metaverse Cyberattacks in 2023
Kaspersky has predicted that metaverse exploitation and customer security threats will rapidly increase in 2023. Metaverse Ecosystem Susceptible To Attacks Cybersecurity company Kaspersky has recently conducted a report which indicates that cyberattacks could increase on the metaverse in 2023. The firm recently published its “Consumer cyberthreats: predictions for 2023” report on November 28, forewarning the increasing risk of exploiting the metaverse in 2023 due to insufficient data protection and moderation rules. An excerpt from the report reads, “As the metaverse experience is universal and does not obey regional data protection laws, such as GDPR, this might create complex conflicts between the requirements of the regulations regarding data breach notification.” Increasing Attacks On Metaverse The report indicated that the industry would face threats bigger than malware, ransomware attacks, and phishing. The report also acknowledged that the number of metaverse platforms would soon be ballooning in the next few years, and as a result, the metaverse will become the prime target for malicious actors and cybercriminals who will flock to these platforms to exploit unaware participants. Furthermore, the metaverse poses a brand new challenge and threat to social well-being. There have already been reports of increasing sexual abuse of avatars. Kaspersky predicts that 2023 will witness increasing virtual abuse across metaverse ecosystems since there are no proper laws in place to protect virtual entities. Cybercriminals Targeting In-Game Assets The report has also identified one of the prime target areas for cybercriminals on the metaverse, which is in-game assets. Most metaverse games have provisions for monetization or digital currency support. These include virtual currencies and digital collectibles, like NFTs. Cybercriminals can go the phishing route to gain access to accounts holding these assets or trick users into fraudulent deals. The month of October has already witnessed a record number of attacks in the crypto space, like the attack on the Ethereum Alarm Clock, the Olympus DAO hack, and more. According to Kaspersky, the spike in these activities indicate difficult times ahead for the crypto space, especially for the metaverse ecosystem. Social Media Platforms Also At Risk Other than the risks of the metaverse, the security firm also explored issues of possible privacy exploitation of social media platforms. With a growing number of social media apps, cybercriminals are getting more opportunities of targeting users. In the crowd of new platforms, it is easy for malicious actors to distribute fake trojanized applications that can infect devices and compromise personal data, leading to data and financial theft. 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.
5 days agocryptodaily
Brazilian Congress Passes Crypto Bill
Brazil’s lower house of Congress has passed a bill granting limited legal status to crypto payments and establishing a regulatory framework for the industry. Chamber Of Deputies Approve Crypto Bill On Tuesday, Brazil’s Chamber of Deputies approved a bill to establish a regulatory framework for the country’s crypto industry. The bill was previously approved by the Senate in April and was awaiting the decision of the Chamber of Deputies. The bill has passed into law and only requires the signature of the President to be enacted. However, the most noteworthy angle of the law is that it grants legal status to crypto payments for goods and services without granting crypto the status of legal tender. What’s Next For Crypto Bill? The bill was authored by deputy Aureo Ribeiro and sought to establish a “virtual service provider” license to be made mandatory for crypto exchanges and other crypto firms. Over the next 180 days, crypto companies based in Brazil will be required to follow the rules of registration, after which the law will be enforced. Once the law is in effect, the executive branch of the government, which includes the president and the ministers, will need to determine the government department responsible for supervising the legislature. It is most likely that the Central Bank of Brazil will be chosen for this task. As of now, the Brazilian counterpart of the SEC, the Comissão de Valores Mobiliários (CVM), is responsible for overseeing only the tokens that are categorized as securities. Increasing Oversight For Crypto The law has also recognized that digital currencies offer more opportunities for criminal activities of a massive scale due to their pseudonymous nature and has called for a “closer monitoring” of the industry. Accordingly, it establishes a new crime of fraud involving virtual assets, with penalties that include imprisonment and fines. Furthermore, the legislation did not approve an amendment to grant tax benefits to crypto miners and is also seeking to prevent another FTX-esque catastrophe; hence it directs crypto service providers to separate operational funds from those of the clients. Brazil’s Burgeoning Crypto Industry Brazil has been making significant moves in its crypto industry, taking strides instead of steps when it comes to establishing a regulatory framework to build on. For example, most recently, the country’s largest digital bank, Nubank, launched a program allowing its citizens to buy Bitcoin through its platform. Earlier this year, the mayor of Rio De Janeiro announced his plans to develop the city as the next global crypto hub. KuCoin’s “Into the Cryptoverse” report has also revealed that over 34 million Brazilians have invested in cryptocurrency. Therefore, this rapidly growing industry urgently needed a regulatory framework, which the Crypto Bill will now provide. 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.
6 days agocointelegraph
Brazil passes law to legalize crypto as a payment method
The law was approved by the Chamber of Deputies of Brazil but still requires the approval of the executive branch to be enacted.
6 days agocoindesk
Brazilian Chamber of Deputies Approves Bill Regulating Crypto Transactions
The bill still requires the approval of the executive branch before it becomes law.
6 days agocryptodaily
The Solution To Crypto Private Key Management Has Arrived
Anyone who knows anything about crypto safety and security will have heard of the mantra “not your keys, not your coins”. For those who really care about securing their crypto, it’s imperative to maintain control of your private key - a randomly generated string of letters and numbers that provides access to your crypto wallet. Those who don’t control the keys do not control their funds, as customers of the popular crypto exchange FTX recently found out. Anyone who leaves their crypto in an exchange account is essentially trusting that platform to hold onto their funds for them - and that clearly isn’t a good idea. But as foolish as it is, people continue to trust cryptocurrency exchanges. That’s because so-called non-custodial wallets have indirectly caused the loss of an estimated $100 billion worth of Bitcoin alone, due to people losing their private key and being unable to access their funds. It’s no joke, as Briton James Howells discovered back in 2013 when he accidentally threw away a hard drive containing Bitcoin that is now estimated to be worth $200 million. The private keys were saved on the same hard drive that is now buried in a landfill site, meaning that he has no way to recover his lost fortune. It’s a dilemma that’s bad for crypto. With no easy system in place for people to retain control of their funds, the industry will probably never be able to achieve its goal of onboarding billions of people around the world into an alternative financial system. However, it doesn’t have to be this way. There’s a misnomer in crypto that users have a straightforward choice between using a centralized exchange, which means entrusting their funds with a third-party, or a non-custodial wallet, where they retain the private key. Leaving your funds in a crypto exchange means giving up your control and freedom in return for the peace of mind that, if you somehow lose your password, you’ll still be able to recover it through email and access your funds. It’s a trade off though, because exchanges have shown time and time again that they can’t be trusted to manage their customer’s funds. The only alternative is to manage your private keys yourself, and run the risk of one day misplacing them and losing access to your funds forever. Introducing the MPC Wallet: A Safer Option What few people realize is that there’s actually a third option, which offers a much better way. It’s a relatively unknown solution called the Multi-Party Computation wallet and can be thought of as a kind of hybrid between the two above options. MPC wallets are a viable solution that have already been adopted by institutional investors for some time already. Services such as Fireblocks, for instance, have been helping big-bucks investors retain safe custody of millions of dollars worth of crypto assets for years, and it’s about time that this technology has the same impact in the consumer space. What is an MPC Wallet? MPC wallets use some cryptographic wizardry to create a secure key management system that allows multiple parties to generate a new key, sign and verify transactions, securely and without any single point of failure. The way they work is quite technical, but essentially what happens is that the private key is split into multiple pieces that are linked using cryptographic techniques. As such, the task of verifying a transaction is split into smaller parts that are completed by multiple, different parties. Once all of these individual parts have been completed, they can be combined to verify the final result. It’s an approach that provides greater security and anonymity to users. The advantages of MPC wallets is that the user never has to deal with the private key. It means they can always access their wallet and the funds within it, and there’s no single point of failure that would enable hackers to access it. What MPC Wallets Are There? MPC wallets were traditionally only been available to institutions through a provider called Fireblocks. Its MPC wallet service essentially breaks up the private keys into multiple shards that are distributed between various parties, who must each verify a transaction before it can be confirmed. The requirement for multiple parties to be involved meant that it was difficult to provide this kind of service to consumers, but that has changed with the availability of MPC wallets from Coinbase and ZenGo. Coinbase introduced its MPC wallet earlier this year, allowing users to access a range of third-party dApps directly within the Coinbase applications. ZenGo, meanwhile, has actually been around for several years. In both cases, the way it works is that the user retains a part of their private key, with Coinbase or ZenGo storing the other part and helping the user to verify transactions. In this way, the wallet provider is unable to access the user’s funds. The main benefit for users is that they don’t have to worry about losing their private key as they never actually see it. Coinbase promises users that, even if they lose access to their device, the key to their wallet will remain safe and can be accessed with the company’s assistance through its live support channels. In the case of ZenGo, it relies on an encrypted biometric scan, email authorization and recovery software that’s installed on the user’s smartphone or laptop. By combining these technologies, ZenGo provides a simple way for users to access their wallet, without them ever having to worry about the private key. Recoverability Encourages Adoption The harsh reality is that it’s impossible to recover a traditional non-custodial wallet if you lose the private key. On the other hand, MPC wallets provide a familiar recovery experience, similar to the process of restoring access to a social media account. This kind of recoverability capability is likely to be crucial going forward. With episodes like FTX, users have become acutely aware of the dangers of keeping their funds on an exchange. Yet the alternative of trying to securely store a private key somewhere and never losing it is not appealing. It’s fair to say that many people simply do not trust themselves to look after something that’s so important. If the crypto industry is to onboard billions of users around the world, a safe and secure recovery method is absolutely a must-have. By providing a way for new users to hold assets without worrying about losing their private key, MPC is opening the door to crypto for millions of new users. 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
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Best Play To Earn Crypto Games For 2023 As The Hideaways (HDWY) Moons
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About Request Network

The live price of Request Network (REQ) today is 0.093036 USD, and with the current circulating supply of Request Network at 999,830,316.04 REQ, its market capitalization stands at 93,020,214 USD. In the last 24 hours REQ price has moved 0.002051 USD or 0.02% while 5,430,694 USD worth of REQ has been traded on various exchanges. The current valuation of REQ puts it at #205 in cryptocurrency rankings based on market capitalization.

Learn more about the Request Network blockchain network and how it works or follow the price of its native cryptocurrency REQ and the broader market with our unique COIN360 cryptocurrency heatmap.

Request Network Price0.093036 USD
Market Rank#205
Market Cap93,020,214 USD
24h Volume5,886,988 USD
Circulating Supply999,830,316.04 REQ
Max Supply999,877,117 REQ
Yesterday's Market Cap94,727,870 USD
Yesterday's Open / Close0.092693 USD / 0.094744 USD
Yesterday's High / Low0.09919 USD / 0.092665 USD
Yesterday's Change
0.02% ( 0.002051 USD )
Yesterday's Volume5,430,693.50 USD
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