Lost Bitcoin may be a ‘donation,’ but is it hindering adoption?
Estimates suggest 20% of Bitcoin’s supply has been lost. Are these funds a donation to everyone else, or a challenge to further adoption? Cryptocurrency custody solutions have become a big business over the last few years. Independent storage and security systems meant to hold large quantities of crypto on behalf of clients can bring in institutional capital and retail investors waiting on the sidelines simply because they remove a major fear: losing access to funds that become unrecoverable.Because of the decentralized nature of major blockchains like that of Bitcoin or Ethereum, whenever....
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The average crypto donation size was $10,455, 82x more than an average $128 cash donation. 2021 was not just the year of institutionalization of crypto and new all-time highs; it also turned out to be the biggest year for crypto philanthropy.According to research data from The Giving platform, crypto donation volume rose to $69.6 million in 2021 compared to $4.2 million in 2020. Crypto donation volume spiked 1,558% or nearly 16x over the same period. The average crypto donations also saw a 236% increase, rising from an average of $3,109 in 2020 to $10,445 in 2021.The data further revealed....
Experimental male contraceptive project Vasalgel received a Bitcoin donation valued at $13,000 last month. Unfortunately, the donation was declined and sent back by Vasalgel’s payment processor. Via a Facebook post, Vasalgel announced the failed donation and pleaded with the would-be donor to repeat the attempt: “OMG, someone just tried to donate $13,000 of Bitcoins to support Vasalgel development, but it was declined because it's over the $10,000 daily limit! Bitcoin is totally anonymous, so we can't contact them to let them know they can split the donation. Whoever you are, please try....
Bitcoin Classic has benefitted from anonymous hashpower donations rising to over 10 petahashes per second, while users report continuing malicious activity against nodes. An anonymous donation of 10 bitcoins to the Mining Donation Fund helped Bitcoin Classic hashpower temporarily surpass the significant 10 petahash boundary Wednesday. The fund is....
Jaxx abruptly canceled its much-anticipated integration of Monero into its platform, citing “too many difficulties.” The multi-coin wallet, which integrates across a variety of platforms with a focus on user experience, was slated to integrate the privacy-centric cryptocurrency last year, but faced repeated delays. CEO Anthony Di Iorio announced the cancellation news via Twitter: The integration was reportedly almost complete, with Di Iorio posting screenshots of the wallet with Monero integrated. Issues hindering the integration. During the integration process, Jaxx reportedly came across....
Now a trillion-dollar market, the crypto ecosystem has withered some of the toughest conditions within its period of existence. However, like any other technological innovation, it is not short of native challenges. This ‘lucrative’ market faces a myriad of shortcomings, including criticisms from regulators and long-standing financial institutions. But the most significant hurdles are currently attributed to the underlying infrastructures. In a recent interview during the Paris Blockchain Week, Binance CEO Changpeng Zhao identified crypto custody as one of the hardest challenges that....