This is what happened in the crypto world this week.
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Welcome to Nonfungible Tidbits. This is a weekly compilation of news on cryptocurrencies, NFTs, and related areas.
This week’s lead story is Twitter signing on as the first company to use Stripe’s new crypto payment feature. The social network plans to give creators (people who monetize videos, art and music directly through relationships with viewers) the option to get paid with Stablecoin.
Coinbase has also launched a beta version of the NFT Marketplace, and New York lawmakers are considering a moratorium on fossil-fueled cryptocurrency mining in the state, a strange to the DeFi protocol that left behind cryptocurrencies stolen by hackers. It also describes cyber attacks.
Stripes to start paying cryptocurrencies starting from Twitter
Sarah Tew / CNET
Online payment processor Stripe said on Friday that it would allow businesses to pay their customers in cryptocurrencies. The first business to sign on to this feature was Twitter, a huge social media company, currently using Stripe to pay creators.Currently, the cryptocurrency used for payment is Stablecoin It is called USDCoin or USDC. The value of USDC Stablecoin is fixed at the US dollar, so its value fluctuates less than other cryptocurrencies such as Bitcoin.
Twitter takes advantage of Stripe’s cryptocurrency payment capabilities by offering it as an option to creators who sell premium content to their followers, such as those who receive revenue from Twitter’s pay. Space with ticket and super follow function.. Creators can choose to send their payments to their digital wallet.
Read the full CNET text on Stripe’s crypto payment deployment here.
Coinbase Releases Beta of NFT Marketplace
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On Wednesday, the cryptocurrency exchange Coinbase released a beta version of a feature that allows users to buy and sell NFTs on its platform. Coinbase call The new feature “Web3 Social Marketplace for NFTs” sounds like an exchange, but this feature may contain social media elements.Currently only viewable in beta EthereumBase NFT on Coinbase.
Read the full CNET text about launching Coinbase’s NFT Marketplace here.
New York lawmakers are considering a moratorium on crypto mines
Cryptocurrency mining rig.
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According to The Wall Street Journal, the battle over how to allow cryptocurrency mining operations is intensifying in New York. Report.. New York lawmakers are considering a two-year moratorium to revitalize old fossil fuel power plants in the state for the purpose of mining cryptocurrencies.
Cryptocurrency mining operation Incredibly energy intensiveTherefore, electricity is a large part of the miner’s overhead.Buying enough power to mine cryptocurrencies is expensive and crypto miners need to be uninterrupted Access to power 24 hours a day.That’s why miners are using Old power plant As a cheap power source for their business.
Cambridge Bitcoin Power Consumption Index Estimate The energy consumption of the Bitcoin network is a little less than the energy used throughout Egypt.Greenpeace and other organizations are currently engaged Campaign to change the structure of the Bitcoin network Reduces network carbon dioxide emissions.
Hackers abuse DeFi protocol to leave stolen cryptocurrencies
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In the strange turn of the event, Hacker stole A $ 1 million cryptocurrency from a decentralized financial protocol called Zeed couldn’t withdraw it. In general, the DeFi protocol is a set of codes that runs on the blockchain and facilitates various financial transactions and transfers using cryptocurrencies. Business Insider India Called A hack like robbing a bank and forgetting a bag of money. The publication also states that nearly 97% of all cryptocurrencies stolen this year are due to hacking and misuse of the DeFi protocol.
thank you for reading. I’ll be back a lot more next week. in the meantime, Check out this story CNET’s Daniel Van Boom explains how Apple iCloud exploits cost crypto traders over $ 650,000.
