What conditions does a high-quality blockchain project need to meet?
Good project management and teamwork: Ensure projects are on schedule and there is good communication and cooperation among team members. Clear goals and vision: The project should have a clear, specific goal and vision, which will provide direction for the entire project. Decentralization: Ensure that the project is truly decentralized and avoid single points of failure or potential risks of centralized entities. Economic incentive mechanism: Provide appropriate incentives for nodes (absentees), validators or other network participants to ensure the security and stability of the network. Effective governance model: Projects should have a clear and fair decision-making process that allows community members to participate in decision-making. Practicality and market demand: Ensure that the project has actual application scenarios and market demand, not just technical innovation. Active and engaged community: A strong community can provide technical support, feedback and promotion for the project. Continuous R&D and innovation: As technology and markets develop, projects should continue to engage in R&D and innovation to maintain their competitiveness.
Bitcoin and Ethereum are the standard and need to meet the following conditions: be able to solve practical problems in real life. In particular, problems that cannot be solved in the centralized world allow community members who have followed for a long time to make profits. They can fall or even plummet in the short or even long term. , but the general trend is to increase the community's activeness, more and more overall holders, as safe and transparent as possible, through community governance, and decentralization in Chengdu is relatively high. The trading volume is active, and in addition to its use value, it also has speculative value.
As Bitcoin approaches its fourth halving, miners are spreading computing power to new geographical areas at a rapid pace. Recently, the leading mining company Bitdeer recently announced its operations in September. Its Bitcoin mine in Bhutan alone produced 217 Bitcoins. For this small landlocked country located in the Himalayas, I believe most people’s impressions of Bhutan are only based on rumors that it is “the country with the highest national happiness index”. Today is different from the past. This year, Bhutan, a Buddhist country, began to use its advantages in hydropower resources to vigorously promote the construction of Bitcoin mining bases and mine Bitcoins in the Himalayas. Its vigorous modernization transformation is truly extraordinary. In this episode, we are going to talk about Bhutan. Its official name is the "Kingdom of Bhutan", with a total area of 38,000 square kilometers and a population of only 760,000. It leads Asia in the popularity of English. Its territory borders my country's Tibet and India. It is the only A border country that does not have formal diplomatic relations with our country. Bhutan is a typical non-industrialized country. There are no factories that pollute the environment, there are no high-rise buildings, and there are not even traffic lights on the streets. There is a complete ban on the import of chemicals, genetically modified products, and felling of trees. Being the most environmentally friendly region in the world is the advantageous resource that Bhutan is most proud of. Unlike our domestic tourist attractions, traveling in Bhutan will not be crowded, let alone crowded. Because travel to Bhutan is expensive for foreigners, foreign tourists will be imposed a consumption tax of US$200 to US$250 per person per day. In other words, even if you plan to travel on a budget, sleeping on the streets in Bhutan at night will cost you more than 200 US dollars per day. If you plan to stay in Bhutan, you can only stay in a four-star hotel for one night with a budget of 1,000 U.S. dollars. Five-star hotels generally cost more than 2,000 U.S. dollars. Indeed, the tourism industry was once the major income earner in Bhutan. But now Bhutan is no longer satisfied with this, but has greater aspirations and ambitions. Renewable hydropower has increasingly become its largest product, and "selling electricity" has become Bhutan's main means of earning foreign exchange from exports. There are many mountains and rivers in Bhutan, and mountains account for more than 95% of the total area. There are 7 peaks above 4,500 meters, including the Himalayas.Due to the large terrain difference, the highest altitude is over 7,000 meters and is covered by ice and snow all year round, while the hilly and plain areas in the south are only 97 meters above sea level. It is precisely because of the water flow after melting glaciers and the towering and steep terrain that Bhutan has huge hydropower resources. Therefore, hydropower has always been a pillar industry that the Bhutanese government has vigorously developed, and the Bhutanese government has planned to open two new hydropower stations by the end of 2024, with a total capacity of 1,400 megawatts. It is reported that BitDeer and Bhutan’s sovereign wealth fund DHI (Druk Holding & Investments) have previously reached an agreement to build a 600-megawatt Bitcoin mine. DHI is a state-owned holding company of Bhutan, with the Ministry of National Finance of Bhutan as the sole shareholder, and its operation method is biased toward state-owned enterprises. The first batch of 100-megawatt Gedu mines has been put into use in September this year, and another 500-megawatt mines are expected to come online in the next three years. The state-owned power company of Bhutan will supply power to the mines at long-term contract prices. It is worth mentioning that the 100-megawatt Gedu mine has become the largest electricity consumer in Bhutan. When all 600-megawatt mines come online in the future, the electricity consumption will be greater than the entire domestic production and life of Bhutan combined. many. According to statistics from the Bhutan Energy Company, the historical power consumption record of Bhutan is less than 500 megawatts. However, hydropower generation in Bhutan is also seasonal. When power generation is significantly reduced during the dry season, according to the agreement between BitDeer and Bhutan’s DHI, domestic demand in Bhutan will be given priority and residents’ needs will be given priority. Bitcoin mines may be closed in winter if necessary. Despite this, compared to the past, most of Bhutan’s excess hydropower can only be exported to India at low cost. Now, by mining Bitcoin, not only can higher electricity income be obtained, but there is also a rare opportunity for digital transformation. In particular, the reason why Bhutan chose the national team to enter Bitcoin mining is also closely related to its current economic crisis. As the United States has continued to raise interest rates in recent years, which has led to a sharp depreciation of Bhutan's local currency, Bhutan's national foreign exchange reserves have plummeted and foreign debt pressure has increased sharply. At this time, Bhutan has entered the market and is eager to participate in the operation of Bitcoin mines. In addition to bringing stable income to itself (selling electricity), more importantly, it is also rich in U.S. dollar (U)-based taxes and profits.Obviously, Bhutan is very determined to become a new “Bitcoin miner country” in the future #BTC
🔅²⁰²³ ☼ Thursday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ Good morning🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼The best thing in the world is that every morning you wake up and it’s a brand new day, it’s completely free and it’s never out of stock. Good morning! 📍Content overview☞: "MKR", "Ethereum ETF", "Ethereum Foundation"
1. Data: 2 whale addresses purchased 1,494 MKR in the past 7 hours
2. The U.S. SEC postpones the resolution date of ARK21Shares and VanEck Ethereum TF to December this year
3. Ethereum Foundation researcher: The reason why Ethereum works hard is because people have values. If they forget their values, Ethereum will die.
About DeFi's basic income and excess income sources
In this episode, we talk about DeFi. Recently, when Shenyu participated in the "Singapore DeFi Day" event, she expressed her own views on the income opportunities of DeFi and the Bitcoin market next year. It was quite enlightening, so we have compiled some for you. Key points for your reference: About DeFi basic income and excess income sources DeFi basic income comes from Ethereum PoS income + on-chain U.S. bond income. As for excess returns, the entire blockchain is still an event-driven market, and there will be profit opportunities generated by various events. If you have a deep understanding of the nature of things and the operation of the protocol, then when something big or small happens, In small events, there will be various arbitrage opportunities. If you have enough awareness, it will be a good income enhancement. On this basis, we can add leveraged instruments or derivatives instruments to amplify the returns, and it is still relatively easy to achieve an annualized return of more than 5%. In the past, when many funds mined DeFi, it was difficult to entrust it to subordinates or third parties because the asset size was too large and the authority distribution was complicated. In response to this pain point, after one to two years of accumulation, Cobo has implemented some very fine-grained risk control at the contract parameter level through the Argus system this year. The funds are placed in a multi-signature wallet, and then limited permissions are allocated to There is no need to pay special attention to the actual owners of funds among different people. In this way, different single-signing users are assigned this authority and can customize operations within the authority, and executives such as CTO and CIO do not need to manage it. The operational details of investment greatly release the energy of these executives. On the second level, a problem that has been bothering me for a long time in the past is that a large number of on-chain security changes occur in the middle of the night, making people sleep poorly. DeFi has also experienced a lot of twists and turns this year, with a large number of security incidents occurring and even the programming language itself being hacked. As a DeFi user, we must always monitor some on-chain indicators. Basically, our mobile phones are reminded by various alerts of different priorities 24 hours a day, and because hackers have time differences with us, they tend to choose weekends. Or an attack is carried out in the middle of the night. A large number of alarms often sound in the middle of the night. When you get up in the middle of the night and are still not quite awake, you have to figure out what the situation is, and then solve and deal with it.In response to such a personal pain point, we made some solutions. By dividing the permission granularity very finely, we allowed the robot to automatically monitor various changes on the chain 24/7, and at the same time established risk execution Some strategies. By assigning permissions for specific operations to online robots, observing changes on the chain, and immediately retreating once any disturbance occurs, and withdrawing assets from the pool for multiple signatures as soon as possible, the problem of sleep quality can be well solved. To sum up, one is to decentralize DeFi funds - different team members can obtain corresponding permissions and perform more efficient operations. We have made a breakthrough at this level; at the same time, we have done various things internally Robots are used to ensure the safety of assets and maximize the rate of return. In the past, you might not dare to raise the leverage ratio very high in order to get a good night's sleep, but now with these robots, the leverage ratio can be raised relatively high, because the robots will handle these operations for you. Regarding the risks of DeFi investment/mining, there is a general direction at this stage, which is the development of asset transactions from centralization to decentralization. Especially after a series of events such as FTX, it has almost become an industry consensus. The second point is more important for the growth of this industry. There are two sources, one is user growth, and the other is the inflow of traditional legal currency funds. The latter is more affected by macro policies. Regarding user growth, in the next few years, with the performance improvements, the launch of second-tier networks and the development of smart wallets, users will be able to use the underlying blockchain technology and private key encryption principles without being aware of it. You can have a blockchain wallet account and interact with the blockchain. Although the standard protocol layer has not yet been unified, it can bring in a large number of incremental users. It is still unclear where the money is, but the user entrance is relatively clear as a general direction. At this time next year, Bitcoin has already halved. Bitcoin will be at a position of 40,000+, within the range of 40,000 to 60,000, and ETH should be almost the same multiple. Audience question: May I ask Shenyu, there is a voice saying that Unibot, a new trading model, will replace CEX. What do you think of Unibot, a new robot trading product?And what do you think of dYdX, a derivatives trading platform, becoming a separate Layer 1? Shenyu’s answer: Unibot’s mechanism solves the user experience problem very well at the current stage. It provides users with another entrance, through a simple robot interaction interface, so that ordinary users do not need to deal with complex cryptography knowledge or learn How to properly keep assets to carry out DeFi operations. But there are issues with its security, especially private key protection. I think that this direction of transforming the transaction interface through Bot is the right direction, but while improving the user experience, how to improve security is a problem that needs to be solved. Considering the current development and construction of Telegram on the blockchain, this direction will continue to iterate, and new interaction methods will evolve in the future. dYdX essentially places the transaction matching off the chain, and then puts the settlement of the transaction on the chain. This method perfectly combines the performance of centralized exchanges with the decentralized real-time delivery characteristics of the blockchain, but is there any I personally have doubts about the need to make a Layer 1 myself.
🔅²⁰²³ ☼ Wednesday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ Good morning🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼Maturity comes from adversity, awakening comes from desperation, seize the opportunities behind adversity, and create miracles from desperation. Good morning! 📍Content overview☞: "JPMorgan Chase", "Bitcoin ETF", "Central Bank Digital Currency"
1. JP Morgan UK will ban cryptocurrency transactions via bank transfers or debit cards
2. Franklin Templeton submitted a 19b-4 document to the US SEC to initiate the Bitcoin ETF review process
3. Hong Kong Acting Financial Secretary: There are more than 800 financial technology companies in Hong Kong and will promote projects such as central bank digital currency
🔅²⁰²³ ☼ Tuesday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ Good morning🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼It’s another new day, may good luck be with you. Good morning! 📍Content overview☞: "OpenAI", "Celsius", "Arbitrum"
1. OpenAI begins to launch voice and image functions in ChatGPT
2. Celsius creditors have voted to distribute approximately $2 billion worth of Bitcoin and Ethereum plans
3. Radiant applies for grant funding of up to 3.36 million ARB from the Arbitrum short-term incentive plan.
🔅²⁰²³ ☼ Monday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ Good morning🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼The wind in your ears and the road in front of you are the most important. Good morning! 📍Content overview☞: "Token Unlocking", "CBDC", "South Korea"
1. Data: OP tokens worth more than 30 million US dollars will be unlocked at once this week.
2. Buterin: CBDC may not be a private digital asset, but has mostly become the "front end" of the traditional banking system.
3. South Korea’s new bill plans to review virtual asset operators. Major shareholders with criminal records must give up their equity or operator status.
4. Digital RMB launches wild card “recharge first and then use” function
🔅²⁰²³ ☼ Tuesday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ ᵕ̈ ◡̈🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼If your heart is sunny and your smile is warm, may we all be brave and gentle. On the road of running forward, there will be love to find and dreams to pursue. 📍Content overview: "Any TVL", "SEC", "Zodia Storage"
1. Arbitrum TVL fell to $1.67 billion, the lowest level since mid-February
2. Chairman of the U.S. SEC: The encryption industry generally does not comply with securities laws, and many cryptocurrencies fall under the jurisdiction of the SEC.
3. Standard Chartered Bank’s crypto custodian Zodia Custody begins operations in Singapore
4. Aptos (APT) unlocks approximately 4.54 million tokens, worth approximately US$24 million
🔅²⁰²³ ☼ Monday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ ᵕ̈ ◡̈🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼Life doesn’t have to be colorful, but you must live your own color. 📍Content overview☞: "Ethereum", "Token Unlocking", "Web3"
1. Data from the Ethereum official website shows that the number of ETH pledged on the beacon chain exceeded 25 million.
2. Data: APE worth approximately US$49.94 million and APT worth US$23.54 million will be unlocked this week
3. Web3 social application Tip Coin will launch the token TIP on September 13
4. Data: The total number of Ordinals inscriptions minted exceeded 30 million pieces
🔅²⁰²³ ☼ Friday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ ᵕ̈ ◡̈🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼The morning breeze gently knocks on the beautiful window lattice, urging you to get up early to welcome the morning sun! 📍Content overview☞: "DCG", "FTX", "Web3"
1. Genesis sues parent company DCG for over US$620 million in unpaid loans
2. Former FTX executive Ryan Salame pleads guilty to criminal charges related to cryptocurrency exchange collapse
3. Southeast Asia’s online ride-hailing and food delivery platform Grab has added a Web3 tag, which can connect to the Web3 wallet to view encrypted assets.
4. Bloomberg: JP Morgan is exploring blockchain-based payment and settlement systems
🔅²⁰²³ ☼ Wednesday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ ᵕ̈ ◡̈🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼It’s a new day, live your most brilliant self! 📍Content overview☞: "Grayscale", "MetaMask", "Hong Kong"
1. Grayscale sent a letter to the US SEC, urging to expedite the review of the application to convert GBTC into ETF
2. MetaMask launches the Sell function, allowing cryptocurrency to be converted into legal currency and transferred to bank accounts.
3. Chen Haolin, Deputy Director of the Treasury Bureau of Hong Kong: 56 projects covering virtual asset management have received funding from the second round of the "Paper and Go" program
In this episode, let’s talk about why Bitcoin spot ETFs are so important to the market? Throughout the development history of Bitcoin, buying power is increasingly concentrated in North America, mainly the United States. When Wall Street institutions are willing to enter the market, the Bitcoin market can achieve larger gains.
Because the essence of the market is the game between opponents.
With the recent entry of Wall Street heavyweights such as BlackRock and Fidelity. In this context, the early listing of Bitcoin ETF spot is particularly important.
It can be said that the biggest charm of Bitcoin spot ETF is that it provides a safer investment method for "old money". You can not hold Bitcoin itself and only hold shares of BTC value changes through ETF, and better grasp the real-time price fluctuations. And there’s no need to master the complexities of a digital wallet or decentralized exchange.
🔅²⁰²³ ☼ Tuesday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ ᵕ̈ ◡̈🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼Go further and see a brighter light. 📍Content overview☞: "Blockchain", "EU", "UK"
1. New technologies such as blockchain have greatly changed the global allocation of factor resources, industrial development models and people’s lifestyles.
2. EU: The use of the digital euro in non-euro area member states requires the approval of an international agreement between the EU and a third country.
3. The UK will hold the Global Artificial Intelligence Security Summit from November 1st to 2nd.
🔅²⁰²³ ☼ Monday ᴳᴼᴼᴰ ᴹᴼᴿᴺᴵᴺᴳ ᵕ̈ ◡̈🌤 ﹊﹊﹊﹊﹊﹊﹊﹊﹊ 🌼No matter how small a change is, it is better than staying the same. Every day of hard work is beautiful! 📍Content overview☞: "JP Morgan Chase", "Token Unlocking", "Central Bank"
1. JPMorgan Chase: Following Grayscale’s victory, the SEC may be forced to approve a spot Bitcoin ETF
2. Data: 7 tokens will be unlocked this week, with a total released value of over US$13 million.
3. Central Bank Mu Changchun: To realize the use of digital renminbi as a payment tool in all retail scenarios
4. Two major banks in El Salvador, Cuscatlan and Agricola, accept Bitcoin for loan payments.
Kazakhstan quickly became the world's second largest Bitcoin mining producer with the help of Dongfeng in 2021. However, the good times did not last long. After more than a year of power shortages, power outages, and domestic political conflicts that led to Internet service interruptions, its global computing power share plummeted from a peak of 18% to the current level of about 4%.
In particular, with the implementation of Kazakhstan's new "Digital Asset Law" on April 1 this year, the government has fully intervened in the supervision of a large number of "gray" mining companies, which has had a multifaceted impact on the miners. In this issue we will talk about this topic.
Iceland is a highly developed country in Europe and is located in one of the five Nordic countries. It is close to the Arctic Circle and is known as the "Land of Ice and Fire" where glaciers and volcanoes coexist on a large scale. 11% of the country is covered by glaciers and has many rivers, with huge potential for hydropower generation. There are as many as 30 active volcanoes in the territory and the geothermal resources are extremely rich. The capital of Iceland is called Reykjavik, which is called "Smoking Bay" in Icelandic.
Iceland is also arguably the country with the richest resources for renewable energy generation, with its electricity system consisting of dozens of hydroelectric and geothermal power plants and a transmission network that circles the island. Hydropower is the main pillar of Iceland's power system, accounting for 69% of its electricity generation, followed by geothermal power generation which accounts for 31% of its total electricity.
Recently, President Zhaparov of Kyrgyzstan accepted an exclusive interview with the state news agency Kabal and answered questions about the construction of "mines" at hydropower stations, which uses hydropower to produce virtual currency. Zhaparov spoke highly of the contribution that mining operations can make to the development of Kyrgyzstan by consuming excess electricity in the region by paying electricity bills and taxes, and allowing cryptocurrency mining activities to be carried out in areas with permitted power generation capacity.
In this issue, we will talk about Kyrgyzstan, a small landlocked country in Central Asia that belongs to the former Soviet Union.