February 25: Crypto Summary
Opera's crypto wallet for Android. Ukraine crypto news. Web3 user experience improvements.
gm to absolutely everyone one of you in the crypto space.
LFG!
Markets
Here are today’s market moves:
Here's what you need to know:
Opera 🤝 DeversiFi
In an email sent out, Opera confirmed that it was joining hands with DeversiFi—a decentralized finance trading platform—to launch a layer 2 ETH wallet on its browser. This development makes Opera for Android the first browser to offer a layer 2 ETH wallet. The integration of a layer 2 ETH wallet means that Opera is ready for the upcoming Layer 2 Ethereum scaling .
Browsers are highly underrated today. They are used for all sorts of things—from socializing to coding to learning new stuff. Every doubt we have, we fire up a web browser. This development will open a new gateway to the crypto space. The DeversiFi integration aims to offer users low-cost and fast transacting on Ethereum’s layer 2, enabling them to transact on blockchains directly.
Also, Layer 2 explained in 30 seconds:
"Layer 2" is a broad term for services designed to expand, or scale, blockchains, speeding up transaction times and reducing costs. In this case, Ethereum layer 2 services are designed to handle transactions off the network's mainnet in order to reduce traffic.
Ukraine Crypto News
- FTX gives $25 to each Ukrainian user:
FTX, a major cryptocurrency exchange, announced that it would give away $25 to Ukrainian users of the platform. The move follows Russia's invasion of Ukraine, which announced a "special military operation" on the 24th. In these tough times, it's great to see others positively change lives in Ukraine.
- A million yesterday…4 million total today:
Within the first few hours, Come Back Alive, a Kyiv-based foundation providing support to the Ukrainian army, raised around $400,000 in bitcoin, according to blockchain analytics firm Elliptic. The organization’s wallet appears to have received 109 BTC (approximately $4.1 million) over more than a thousand donations in total.
-Ukraine Bitcoin exchange volume spikes 200%:
Bitcoin and altcoin trading volumes have surged in the aftermath of Russia’s invasion, data shows. According to monitoring resource CoinGecko, on Feb. 24, volume on Kuna almost tripled to over $4 million.
The web3 user experience we need and desperately deserve
We all have made the mistake of forgetting passwords. Be it gmail, instagram, facebook, etc. The “forgot password” button becomes our saviour.
But In a decentralized world, passwords and seed phrase are your responsibility. They’re not stored on a centralized server—which means no one can access them but you. You see, decentralization is pretty cool that way.
But this is also a major UX issue of the crypto space and a ton of businesses are trying to solve.
1Password, a popular secure password management platform, has teamed up with crypto wallet provider Phantom to help prevent this sort of loss.
Cannot wait for 1Password’s integration with Metamask. That’ll save lives!
Also, don’t be like Dan and his friend who are millionaires only if they open up their wallet 💀
Check this out
This cool tool tells you the amount of gas you’ve spent till date.
Did you hear?
Founders of BitMEX crypto exchange take guilty plea, gets $10 million fine for ignoring requirements to implement any anti-money laundering (AML) programs.
Nvidia's RTX 30-series ethereum mining unlocker is a malware.
Crypto lingo of the day
Parachains:
Parachains are custom, project-specific blockchains that are integrated within blockchain, as of time of writing DOT and KSM. Recently the term got popular with parachain crowdloans released on Polkadot.
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