Binance has removed Nigeria’s official currency, the Naira, from its peer-to-peer service. The decision comes amid recent efforts by the Nigerian government to stabilize the value of the Naira. During a BBC interview aired on March 1st, Bayo Onanuga, the special adviser to President Bola Tinubu, disclosed the compensation request, highlighting it as a measure…
DECENOMY has unveiled its milestone sheet for 2024 and early 2025, outlining a focused plan for growth and development. The blueprint highlights several key objectives, demonstrating the project’s commitment to expanding its network, fostering thought leadership, and establishing itself as a leading force in the asset tokenization industry. Key Milestones for Q1 2024: Q2 Pivotal…
Introduction Blockchain technology can be regarded as an advanced distributed database that offers secure and immutable storage of transactional records. It enables the exchange of information between multiple participants in a transparent and tamper-proof manner. By utilizing cryptographic techniques and decentralized consensus mechanisms, blockchain ensures the integrity and security of data. Satoshi Nakamoto, in response…
Real world assets (RWAs) are physical or traditional assets like real estate, commodities, debt instruments, and various financial contracts that are being tokenized on blockchains. Tokens representing ownership related to RWAs are bringing new liquidity and accessibility to previously illiquid markets. What Are Real World Assets? Real world assets are assets that have tangible value…
Japan’s main financial regulatory body, the Financial Services Agency (FSA), has issued recommendations to domestic banks on peer-to-peer (P2P) crypto transactions. The FSA has urged banks to enhance user protection by halting transfers to crypto exchange service providers in cases where the sender’s name differs from the account name. The decision could potentially jeopardize P2P…
Introduction Scalability in the context of blockchains refers to the ability of a blockchain network to effectively handle increased user activity. This includes processing transactions, storing data, and reaching consensus. When a blockchain faces scalability issues, it can result in slow transaction processing times and higher costs. This can hinder mass adoption and limit the…
Amid regulatory concerns, Honduras’ National Banking and Securities Commission (CNBS) has passed a resolution prohibiting financial institutions in the country from engaging with cryptocurrencies. The decision was made after the Honduran central bank said that it was unable to guarantee crypto transactions because they were not regulated. According to the resolution, individuals utilizing cryptocurrencies and…
The Financial Conduct Authority (FCA), an autonomous regulator overseeing finance in the UK, has released a report outlining its efforts concerning financial promotions. This includes its investigations and responses to advertisements linked to cryptocurrency. On Wednesday, the FCA announced that it discovered considerable instances of non-compliance with the rules governing cryptocurrency promotions, which were implemented…
Destroying the Bitcoin and Ethereum network through 51% attacks has become financially unfeasible for nation-states due to the exorbitant costs involved. This is according to research from crypto intelligence firm Coin Metrics. A 51% attack occurs when a malicious entity possesses over 51% of the mining hash rate in a proof-of-work network like Bitcoin or…
Introduction Smart contracts, the backbone of blockchain technology, are programmable contracts that execute automatically when predefined conditions are met, eliminating the need for intermediaries. However, their functionality is not limited to the blockchain alone; oracles serve as bridges between smart contracts and real-world data, enabling them to interact with external sources. Essentially, oracles unlock the…
