NEM Launches, Targets Old Economy with Proof-of-Importance
After a year in the making, the cryptocurrency NEM (New Economy Movement) has officially been launched. CoinTelegraph had the chance to site down and discuss the ambitious project with one of the lead developers, Makoto, to find out more. CoinTelegraph: Please introduce yourself to our readers. Makoto: I am Makoto, one of the lead devs on NEM. I am a PhD student in computer science and my areas of expertise are cognitive science and artificial intelligence, fields where I have published many papers. NEM's consensus algorithm, Proof-of-Importance (POI) was proposed based on work I am doing....
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While we all live in societies where money is mostly considered as a mean to bring wealth and prosperity, there are other factors and aspects in life that all people appreciate. One of these elements is reputation. Reputation is defined as an overall quality or character, as seen or judged, by people in general. It is totally relative among people in a society and has properties of decentralization. Unfortunately, reputation has never been considered in any monetary system and its value has never been appreciated as it should be. “This algorithm gives a pretty good approximation for the....
Leading cryptocurrency exchange Binance has announced the launch of its own payments processing company, Bitfinity. Bitfinity will act as the default fiat-to-crypto payments ramp for the exchange, as well as for other blockchains. With this launch, Binance also targets the expanding Web3 economy, partnering with Paysafe and Checkout.com.
Bitfinity Launches to Help Merchants Accept Crypto
Binance, one of the largest exchanges by volume traded, recently announced the launch of Bitfinity, its own payments technology company. Bitfinity will become the de facto fiat-to-crypto payments....
The blockchain project New Economic Movement (NEM) has big goals; namely, re-creating the economic system without the predominance of traditional power brokers. As the project’s website states: “NEM is a movement which aims to create a new economy based on the principles of decentralization, financial freedom, and equality of opportunity.” The project’s “Proof-of-Importance” model as an alternative to Proof-of-Work and Proof-of-Stake represents its central innovation. Proof-of-Importance calculates how much users transact, and with how many other participants, so as to place a value on the....
Crypto asset markets have seen some significant gains over the last 24 hours recapturing much of the losses suffered a few days ago. The entire crypto-economy valuation is now back over the $1 trillion mark and bitcoin has jumped above the $40k handle on January 14. Bitcoin (BTC) and a number of other digital assets have experienced some nice price gains during the last day. Gains that have almost erased the losses felt on Sunday and Monday. Bitcoin’s market capitalization today is around $734 billion, and the crypto asset has gained over 11% during the last 24 hours. At the time of....
President of Ukraine Volodymyr Zelensky has highlighted the importance of launching a legal digital assets market in his country during a working visit to the U.S. The Ukrainian head of state met with top investors including from the cryptocurrency industry.
President Zelensky Highlights Importance of Ukraine’s Virtual Assets Market
Speaking to venture capital funds and Silicon Valley accelerators, Volodymyr Zelensky praised the opportunity to discuss the prospects for the development of the IT sector and innovations in Ukraine. In his opening remarks at the event,....