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Blockchain Yesterday, on the eve of Valentine’s Day, the new album by the increasingly popular girl K-pop group tripleS was released. As you may know, a key feature of the group is the fluid nature of its lineup of 24 singers, where the selection and creation of subgroups is determined by fans through a blockchain voting process called Gravity. In addition to determining the lineup of sub-band members, fans were also able to participate directly in the curation of the new album, called “ASSEMBLE.” In early December, everyone was invited to vote for the title track on “ASSEMBLE” using the…

Blockchain Blockchain technology is a pioneering method of storing and sharing data. It is decentralized, which means that it doesn’t rely on a single person or business to store the data. Instead, it is spread out among thousands of computers around the globe. As a result, blockchain networks are much more secure than conventional methods of data storage. New developers can easily enter the blockchain ecosystem by participating in blockchain projects. Here are the top 5 blockchain projects to investigate in February 1. Uhive The Uhive Blockchain project aims to advance social networking to a completely new level. Similar to…

Bitcoin’s average block size has hit all-time highs above 2.5MB for the first time since its inception in 2009, driven by the launch of nonfungible tokens (NFTs) protocol Ordinals in January 2023.Block size data from Blockchain.com reflects a jump in Bitcoin block size from the beginning of February 2023, increasing over 2MB in the weeks following the launch of the Ordinals Protocol.The average block size over the past 24 hours in megabytes: Source: Blockchain.comAs Cointelegraph previously reported, participants from the Bitcoin mining ecosystem have already made over $600,000 processing transactions of Ordinals, which have been dubbed as Bitcoin-based nonfungible tokens.…

If you are closely following the progress of digital space, you must be familiar with NFTs and Blockchain. These technologies have been getting all the attention for the past few years.NFTs are unique digital assets stored on the blockchain, used to authenticate the ownership of a particular asset or digital content such as an image, music, video, or any other form of digital media. NFTs use blockchain to produce unique, one-of-a-kind, and indestructible digital certificates stored on a decentralized network. Additionally, NFTs allow users to be the sole owner of an asset by creating a smart contract. This way, the…

Blockchain infrastructure platform Paxos Trust Company will halt the issuance of new Binance USD (BUSD) stablecoins amid the ongoing probe by New York regulators.Paxos officially announced on Feb. 13 that the firm would end its relationship with Binance for the branded U.S. dollar-pegged stablecoin BUSD.Starting from Feb. 21, Paxos will stop minting new BUSD tokens in accordance with directions and coordination with the New York Department of Financial Services (NYDFS).Paxos emphasized that all existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company until “at least February 2024.” Customers will be able to redeem their funds in…

Cryptocurrency exchange Binance plans to continue supporting its Binance USD (BUSD) stablecoin despite its issuer, Paxos Trust Company, facing a stop order from American regulators.As reported by Cointelegraph, the New York Department of Financial Services (NYDFS) has ordered blockchain firm Paxos to cease issuing dollar-pegged stablecoin BUSD. Paxos has also received a wells notice from the United States Securities and Exchange Commission (SEC) alleging that BUSD is an unregistered security. Binance CEO Changpeng “CZ” Zhao has moved to assure users that funds are safe despite the intended enforcement action. In a Twitter thread on Feb. 13, Zhao noted Paxos is…

The launch of Bitcoin nonfungible tokens (NFTs) — known as Ordinals — has tipped the number of non-zero Bitcoin addresses to a new all-time high of 44 million, according to crypto analytics platform Glassnode.In a Feb. 13 report from Glassnode, the firm explained that for the first time in Bitcoin’s 14-year history, a portion of network activity is being used for purposes other than peer-to-peer monetary Bitcoin (BTC)  transfers:“This is a new and unique moment in Bitcoin history, where an innovation is generating network activity without a classical transfer of coin volume for monetary purposes.”Glassnode explained that the Ordinals surge…

Paxos Trust Company-issued stablecoin Binance USD (BUSD) being in the sights of United States regulators sparked various reactions from the crypto community.On Feb. 13, the United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos, alleging that BUSD is unregistered security. On the same day, the New York Department of Financial Services (NYDFS) ordered Paxos to halt the issuance of BUSD. As Paxos faces regulatory scrutiny on several fronts, various members of the crypto community took to Twitter to give their takes on the situation. From disregarding the issue as “FUD” to calling it an attack against…

NFT The Los Angeles County Museum of Art (LACMA) is the latest major art museum to add NFT artwork to its collection, announcing today that it has acquired a series of notable and valuable NFT pieces through donations from notable collectors. LACMA accepted a donation of 22 tokenized digital artwork pieces from the pseudonymous Cozomo de’ Medici, a well-known Crypto Twitter personality. The collection includes CryptoPunks NFT #3831, which was last sold for $2.1 million worth of ETH in 2021. It also features NFTs from Art Blocks, a popular platform that features artwork generated by algorithms deployed on a blockchain…

NFT Despite pushback from Bitcoin purists, Ordinals—the NFT-like project on the Bitcoin blockchain—shows no signs of slowing, as over 76,400 inscriptions have been created to date. The number of Ordinals spiked on February 9, 2023, exceeding 20,800 inscriptions for the day, according to data from Dune. Launched last month, Ordinals is the latest project aiming to bring NFTs into the Bitcoin ecosystem. Counterparty, launched in 2014, was the first project that introduced non-fungible tokens to Bitcoin with the Rare Pepes collection, followed by the 2017 launch of Stacks. What distinguishes Ordinals from earlier projects is that the digital assets are…