Metaplanet Expands Bitcoin Portfolio, Now Holds Over 630 BTC

A renowned investment company in Japan, Metaplanet, has remained relentless in its Bitcoin holdings expansion despite unfavorable market conditions. In its most recent procurement sprees, the Japanese investment firm added 108.78 Bitcoin worth $6.7M (1 billion yen) to its portfolio. Consequently, the total assets in the investment platform custody have spiked considerably to about 639.5 BTC, underscoring a consistent investment strategy. *Metaplanet purchases additional 108.78 $BTC* pic.twitter.com/Pz2AHupm1T — Metaplanet Inc. (@Metaplanet_JP) October 7, 2024 Metaplanet is Mirroring MicroStrategy BTC Investment Style Over the past two weeks, Metaplanet has amassed over 200 Bitcoin, underscoring a trading strategy that mirrors MicroStrategy’s robust accumulations. For context, MicroStrategy is a business intelligence platform globally recognized for its intensive Bitcoin investments. In one of our old publications, we reported that the business intelligence firm purchased 7,420 Bitcoin (BTC) worth approximately $458.2 million. As of then, MicroStrategy Bitcoin stores have increased significantly with about 252,220 tokens. Having adopted MicroStrategy’s strategy, Metaplanet has recorded growth in several aspects. Notedly, the Japanese investment company’s stock market adventures surged considerably, ensuring potential profit accumulation on investments. It has also played a significant role in quantitative easing, offsetting Japan’s unfavorable interest rates, and addressing other economic challenges by diversifying its holdings with Bitcoin. Metaplanet Positions Firm For Future BTC Procurements In other findings, Metaplanet has leveraged stock acquisition rights to participate in active fundraising and embark on projects that will return monetary value to the company. Notedly, the realized capital will fund Bitcoin and other digital asset investments. Meanwhile, in a recent announcement, the Japanese investment firm unveiled a new synergy with SBI VC Trade. The collaboration aims to enhance the management of acquired cryptocurrencies like Bitcoin and ensure effective tax and regulatory compliance standards. Amid the recent procurements, Bitcoin’s price has remained relatively stable, with a 1.3% upswing in the past 24 hours. The flagship crypto is changing hands at approximately $63,200, boasting about $1.25 trillion in market capitalization. BTC’s 24-hour trading volume is up by 131.62%, with a $32.8 billion valuation.

Crypto Burning: Using Artificial Scarcity to Boost Demand

Crypto burning

#Crypto burning #Crypto #PoW Nobody likes to feel unwanted, but in the crypto, it’s sometimes necessary. The limited supply of a token is a key factor in its value, which is why tokens are occasionally burned to reduce the circulating supply—a process known as crypto burning. However, this process often raises concerns among traders, who worry about the long-term sustainability of coins, especially those with a large number of circulating tokens. Recommended reading: How to Recover Money From a Crypto Scammer This article will cover everything you need to know about crypto burning, including its advantages, disadvantages, and the reasons behind it. Dive in.  Key Takeaways What is Crypto Burning? The goal of cryptocurrency burning is basically to take tokens out of circulation forever. The process is carried out by sending them to an unrecoverable address thereby reducing its supply. In simple terms, it is like dumping the excess crypto in a black hole where it will be forgotten forever. This action can either benefit the cryptocurrency or backfire, depending on developer and user sentiments. Also, the rate of supply and demand should be taken into consideration. For example, In May, a total of 3 billion USD tokens was burned twice, consecutively by Tether using an account called “Tether Treasury”. The burn was used to boost the stablecoin after the negative influence on Tether reduced it to $0.95. Recommended reading: How to Buy New Cryptocurrency Before It’s Publicly Available This case study shows how burning controls the coin supply and its value subsequently.  How It Works  Although this process works for the project developers, knowing how it works for a crypto trader is important. To participate in the burning process, you’ll need to initiate it by calling the “burn function.” Afterward, you’ll specify the amount of coins you want to burn. Once you have done that, the token’s smart contract verifies that you, the holder, have enough tokens in your wallet. The system then checks whether the specified number of tokens is available. If the tokens are insufficient or invalid (e.g., 0, -2, -0.5), the request is deemed invalid, and the burn function is canceled. If you have enough tokens and the number you requested to be burned is available, the function starts.  When the function finishes, the number that you input is removed from your wallet and sent to a “burn address” or “eater address.”  This address is special because it has no private key associated with it, which means no one can access the coins once it has been sent there.  Once this happens the specified amount of coins that you put in cannot be recovered again, it is gone forever. For example you want to burn some amount of ETH, all you would have to do is to send the amount of ETH that you want burnt to the Ethereum burn address Which is Ethereum burn address: 0x0000000000000000000000000000000000000000 and your ETH is gone for good. Why the Waste? Image Credit There are several reasons why a cryptocurrency might choose to burn coins and those reasons directly impact the market. Some of those reasons include: Increased Value:  This is a major reason for burning coins. As we previously stated, the main aim is to control the amount of coins available in the market ensuring that there is no excesses because it increases the value of the coin. Control Inflation:  The way traditional money can lose value through inflation — the same thing can happen with cryptocurrency. By reducing the supply,  inflation can be reduced thus maintaining the value of the token. Improved Token Economics: Some tokens are designed to fit into some economic roles with certain goals in mind. These goals can be achieved by burning coins. For example, Stablecoins aim to offer a price that is the same as the U.S. dollar, therefore they have to burn excess coins to maintain that goal. Rewarding Users: Sometimes, burning cryptocurrencies is used as a reward system. For example, as a coin holder or community member, you might receive rewards that involve burning a part of a coin. Spam Protection Token burning can help protect blockchain networks from Distributed Denial-of-Service (DDoS) attacks.  This is a result of cyber-criminals using bots to send a large number of requests to targets overloading their network. As a result of this, a system known as Proof-of-Burning is used to keep these types of attacks in check. Types of Crypto burning There are various types of token burning and they are chosen depending on the goals of the Blockchain network. This is usually done to reduce the overall supply of tokens and increase the value of the coin. It involves regularly removing a certain number of tokens from circulation. Most times it is done at intervals, such as monthly or quarterly.  Here, Tokens are burned as a reward for certain actions or activities. For instance, when users complete a certain task the company may burn tokens as a reward for users. In this case, tokens are burned as a penalty for certain actions. For instance, if a user violates the terms of service the project may burn tokens as a penalty. In this type, tokens are burned to align with the project’s goals thereby boosting the interest of different stakeholders. For example, a company may burn tokens held by the project development team to align their interests with those of the token holders. Recommended reading: Top Tokenomics Statistics You Should Know in 2024 Mechanisms for Crypto Burning Coin burning can be done by two ways  manual or automatic means: Manual burning:  This is when a project team or designated authority burns coins at a specified interval or based on certain conditions. It relies on an intermediary though flexible, it raises questions about centralization and trust. Automatic burning: In this mechanism of burning,  smart contracts are used to automatically start the process of burning coins based on predefined prompts, such as transaction volume or time intervals. It is usually seen as more transparent and reliable

How Hashing Safeguard Blockchain Technology

How hashing safeguard block chain technology

Blockchain technology has revolutionized the way we think about security and decentralization, but have you ever wondered what keeps it all together? The answer lies in hashing, a crucial component of blockchain technology that ensures the integrity and security of the network.  However, many people are unaware of the importance of hashing and how it safeguards blockchain technology. In this article, we’ll delve into the world of hashing and explore how it works to protect blockchain networks from tampering and manipulation, ensuring the security and trust that blockchain technology is known for. Read Also: Blockchain Identity Solutions: A Comprehensive Guide Key Takeaways What is Hashing? Hashing is a process that takes an input (or ‘message’) of any length and returns a fixed-size string of bytes. The output, called the ‘hash value’ or simply ‘hash,’ is unique to each specific input. In other words, hashing is a one-way function that transforms data into a fixed-size string of characters. Key properties of hash functions include: Read Also: Role of Hash Functions in Blockchain Security Common Hash Functions Used in Blockchain Several hash functions are used in various blockchain implementations, including: Each of these functions has its own characteristics, but they all serve the same fundamental purpose in blockchain technology. How Does Hashing Contribute to Blockchain Security? Determining the role of hashing in securing blockchain technology involves analyzing its underlying mechanics and expert opinions. In 2024, several indicators suggest that hashing is crucial to blockchain security. How Hashing Secures Blockchain Technology Now that we understand what hashing is let’s explore how it contributes to the security of blockchain technology. Ensuring Data Integrity One of the primary ways hashing secures blockchain is by ensuring data integrity. Here’s how: Example: Block 1: Hash(Data1) = abc123Block 2: Previous Hash: abc123, Hash(Data2 + abc123) = def456Block 3: Previous Hash: def456, Hash(Data3 + def456) = ghi789 If someone tries to tamper with Data1, it will change the hash of Block 1. This will cause a mismatch in Block 2’s ‘previous hash,’ effectively breaking the chain. Proof of Work Consensus Many blockchain networks, including Bitcoin, use a consensus mechanism called Proof of Work (PoW). Hashing plays a crucial role in this process: Transaction Verification Hashing is used to create unique identifiers for transactions: Benefits: Address Generation In many blockchain systems, public keys are hashed to generate addresses: Protection Against Double-Spending Hashing helps prevent double-spending by: Role of Hashing in Blockchain Security Let’s explore in more detail how hashing contributes to the security of blockchain technology. Immutability Through Cryptographic Links The use of hashing to create cryptographic links between blocks is fundamental to blockchain’s immutability: Securing the Mining Process Hashing is integral to the mining process in proof-of-work blockchains: Example of the mining process: Block Header = Previous Block Hash + Merkle Root + Timestamp + Target + NonceKeep hashing Block Header with different Nonce values until:Hash(Block Header) < Target Merkle Trees and Efficient Verification Merkle trees, built using hash functions, allow for efficient and secure verification of blockchain data: Example of a simple Merkle tree: Root Hash      /        \    Hash(A+B)   Hash(C+D)    /     \     /     \Hash(A) Hash(B) Hash(C) Hash(D)  |       |       |       |  Tx A    Tx B    Tx C    Tx D Protection Against Specific Attacks Hashing helps protect against various types of attacks: Challenges and Limitations of Hashing in Blockchain While hashing is crucial for blockchain security, it’s not without challenges: Quantum Computing Threat Quantum computers could potentially break current cryptographic hash functions: Hash Function Vulnerabilities If vulnerabilities are discovered in a hash function used by a blockchain: Energy Consumption Proof-of-work mining, based on hashing, requires significant energy: The Future of Hashing As blockchain technology evolves, so too does the role of hashing: Advanced Hash Functions Research into more efficient and secure hash functions continues: Zero-Knowledge Proofs Incorporating zero-knowledge proofs with hashing for enhanced privacy: Interoperability Solutions Hashing plays a role in cross-chain communication: Best Practices for Blockchain Developers When working with hashing in blockchain development: Read Also: Hashrate Distribution in 2024: How Countries Stack Up Expert Opinion on Hashing and Blockchain Security Hashing’s contribution to blockchain security is significantly shaped by its ability to authenticate data and detect tampering. According to Bill Mann, Privacy Expert at Cyber Insider, “Hashing is integral to blockchain technology because of its ability to ensure that data has not been altered.” Mann highlights the importance of hashing in cryptocurrency transactions, stating that it “ensures that transaction data has not been tampered with.” He also notes that if a hash value in a blockchain is altered, the hash values change, and it is void. Furthermore, Mann emphasizes the ongoing efforts to develop more complex hashing algorithms to enhance blockchain security. “People are working on much more complex hashing algorithms to ensure the security of blockchain going forward,” he says. However, Mann also acknowledges the cat-and-mouse game between cybersecurity experts and bad actors, stating that “cybersecurity is constantly proactive and reactive on both sides and we just keep moving forward.” Despite these challenges, Mann remains optimistic about the security of blockchain technology, stating that “between encryption, hashing, and blockchain, our data is about as safe as it could possibly be today.” Conclusion Hashing is a cornerstone of blockchain security, playing a crucial role in maintaining data integrity, enabling consensus mechanisms, verifying transactions, and much more. Understanding these mechanisms is crucial for anyone working with blockchain technology or seeking to grasp its revolutionary potential. Ultimately, it’s the elegant simplicity and mathematical certainty of hashing that allows blockchain to achieve its promise of a decentralized, transparent, and secure system for the digital age. As we look to the future, the continued refinement and application of hashing in blockchain will play a key role in shaping the next generation of secure, distributed systems.

How to Buy New Cryptocurrency Before It’s Publicly Available

How to buy new Cryptocurrency

How to Buy New Cryptocurrency Before It’s Publicly Available Investing in new cryptocurrency can be lucrative, but getting in early on a promising project can be challenging. Many investors miss early investment opportunities because they don’t know how to access new cryptocurrency before it’s publicly available. This can result in missed profits and a lack of exposure to potentially game-changing projects.  However, with the right knowledge and strategies, investors can get ahead of the game and invest in new cryptocurrency before it hits the mainstream. In this article, we’ll share pro tips on how to buy new cryptocurrency before it’s publicly available. See Also: Top 5 Cryptocurrency Apps in India for 2024  Key Takeaways Understanding the Benefits of Buying New Cryptocurrency Before Listing Buying new cryptocurrency before it’s publicly available can offer several benefits to investors. Here are a few reasons why: How to Find New Cryptocurrencies Before They’re Listed Finding new cryptocurrencies before they’re listed can be a challenge. Here are a few ways to stay ahead of the game: See Also: Zero-Knowledge Rollup Technology: How It Works in Crypto. Understanding the Risks Before we dive into the strategies for buying new cryptocurrencies, it’s crucial to understand the risks involved: Importance of Research The foundation of successful early crypto investing is thorough research. Here are some key areas to focus on: Team Background Project Whitepaper Roadmap and Development Progress Community and Social Media Presence Partnerships and Advisors Token Utility and Tokenomics Ways to Buy New Crypto Before Listing Now that we’ve covered the importance of research, let’s explore the various methods of buying new cryptocurrencies before they’re listed on major exchanges. Airdrops An airdrop is a marketing strategy cryptocurrency projects use to distribute free tokens or coins to many people, usually to create buzz and generate interest in their project. Airdrops can reward existing community members and incentivize new users to join or promote a new project. See Also: Cryptocurrency Airdrops: Everything You Need to Kno Types of Airdrops Pros Cons Participate in Initial Coin Offerings (ICOs) ICOs were once the primary method for new projects to raise funds, but they’ve become less common due to regulatory concerns. However, they still occur, especially on launchpads. How to participate in ICOs: Pros: Cons: Use Crypto Launchpads Launchpads have largely replaced traditional ICOs, offering a more structured and often safer way to invest in new projects. Popular launchpads include: How to use launchpads: Pros: Cons: Join Private Sales or Seed Rounds For those with larger capital and connections, private sales or seed rounds can offer the earliest and potentially most profitable entry points. How to access private sales: Pros: Cons: Decentralized Exchanges (DEXs) and Liquidity Pools Some new tokens launch directly on decentralized exchanges, allowing early trading before centralized exchange listings. How to buy on DEXs: Pros: Cons: Over-the-counter (OTC) Deals OTC deals involve buying tokens directly from early investors or team members before public trading begins. How to find OTC deals: Pros: Cons: Pro Tips for Buying New Crypto Here are some pro tips for buying new crypto: See Also: Comparison Between Centralized and Decentralized Crypto Exchanges Examples of Successful Crypto Projects that Used Various Strategies to Gain Traction Here are some examples of successful crypto projects that used various strategies to gain traction: Airdrops Initial Coin Offerings (ICOs) Launchpads Private Sales Decentralized Exchanges (DEXs) and Liquidity Pools Over-the-counter (OTC) Deals Red Flags to Watch Out For Here are some red flags to watch out for when buying new cryptocurrency: Legal and Regulatory Considerations The regulatory landscape for cryptocurrencies, especially new and unproven ones, is complex and varies by jurisdiction. Keep these points in mind: Conclusion Buying new cryptocurrency before it’s publicly available can be an exciting and potentially rewarding venture, but it comes with significant risks. Success in this area requires diligent research, a strong understanding of the crypto ecosystem, and a willingness to accept the possibility of losing your investment. Remember, the crypto space is constantly evolving. Stay informed, remain skeptical, and never invest more than you can afford to lose. While the potential for high returns exists, so does the risk of total loss. FAQs