Chainlink May Gain Prominence Over Bitcoin – Citi Report

Quick take: A recent report by Citi Group forecasted that Chainlink may gain prominence over Bitcoin The report cites the use of LINK as a token in the Chainlink ecosystem could increase as blockchain continues to thrive globally over time Chainlink is also being adopted on other networks such as Tezos and Polkadot  Earlier this week, the team at Citi Group released a report explaining that Bitcoin was at a tipping point and could in the next seven years, ‘become the currency of choice for international trade’. The report went…

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Goldman Sachs Reentering Crypto Could Signal a Local Top for Bitcoin

In brief: Goldman Sachs will restart its Bitcoin and crypto desk next week The investment bank’s crypto desk was first launched in December 2017 around the same time Bitcoin topped at $20k Re-entry into the crypto space by the bank could signal a possible top for Bitcoin However, ‘this time around it will be different’ as institutions such as Microstrategy continue scooping up Bitcoin Yesterday, the investment bank of Goldman Sachs announced that it was restarting its crypto and Bitcoin trading desk next amidst increased demand for the investment products…

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An Iranian Think Tank Recommends the Use of Cryptocurrencies to Circumvent Sanctions

A think tank affiliated with the Iranian Presidency has unveiled a study report that encourages the use of cryptocurrencies in circumventing sanctions against the country. In addition, the report also claims the government could potentially “generate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies.” Employment Opportunities Meanwhile, as reported by one local media outlet, the authors of the report say Iran can increase employment opportunities across its economy if it enables the creation of more bitcoin mining farms. In their report, the authors assert…

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Vitalik proposes solution to link certain layer-two scaling projects

L2 DeFi protocols currently cannot communicate with each other, so Vitalik has proposed a fix. In an ongoing effort to battle escalating transaction fees while creating a unified ecosystem, Ethereum co-founder Vitalik Buterin has proposed a solution for a particular type of cross-rollup scaling. The proposal outlines how two protocols using rollups can communicate with each other while maintaining interconnectivity and composability. Rollups are layer-two solutions that are essentially smart contract networks that process and store transaction data off the main chain. However, there are a number of different rollup…

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