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France Energy Giant EDF Now Runs Over 150 Ethereum Nodes

Lele Jima
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France Energy Giant EDF Now Runs Over 150 Ethereum Nodes

 

EDF is now a major validator on Ethereum.


Électricité de France (EDF), a France-based electricity company, has delved deeper into crypto by becoming a heavyweight validator on Ethereum (ETH).

According to a recent report, EDF manages more than 150 Ethereum nodes under its subsidiary Exaion. Per the report, the subsidiary, created in 2020, is currently managing 10 ETH nodes itself and more than 140 Ethereum nodes on behalf of EDF clients. 

EDF is ranked as the fifth-biggest utility company in Europe, with a market capitalization of €46 billion ($45 billion).

EDF Activities in the Crypto Sector 

Exaion is EDF’s Web 3 subsidiary that was secretly launched in 2020 to focus exclusively on cryptocurrencies. Due to skepticism surrounding cryptocurrencies, the French state-owned energy supplier did not publicly disclose Exaion. However, Exaion has been working on several blockchain projects, including Polkadot.

Aside from the 150 Ethereum nodes managed by Exaion, the company also runs another 150 nodes across multiple blockchains such as Tezos, Avalanche, Cosmos, and Polkadot.

Running these nodes enables Exaion to validate transactions on the networks.

While Exaion was launched to focus on different crypto initiatives, the company has ignored running Bitcoin nodes because its PoW consensus algorithm consumes high energy.

As reported by The Crypto Basic, Ethereum became environmentally friendly, reducing worldwide electricity consumption by 0.2% as the merge was successfully launched on September 15th.

 

Nearly 50% Of All Bitcoin Holders in Loss, As It Has Proven To Be An Indicator Of BTC Bottom Since 2011

Mark Brennan
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Nearly 50% Of All Bitcoin Holders in Loss, As It Has Proven To Be An Indicator Of BTC Bottom Since 2011

 

The number of Bitcoin holders in loss approaches almost 50%.


2022 has been a tough year for many cryptocurrency investors, as the prices of all digital currencies have plunged heavily. From political to economic events, cryptocurrency assets were negatively affected, and to make matters worse, Terra suffered a devastating blow that wiped out billions of dollars from the crypto market.

Bitcoin (BTC), the world’s largest market capitalization cryptocurrency, was also on the list of digital currencies affected by these events. Since the beginning of the year, Bitcoin is down 58.8% on Year-to-Date (YTD) basis.

According to data from Coingecko, BTC is trading around $19,062, currently down 72.4% from its all-time high of $69,044. The massive crash of Bitcoin’s price has seen investors record huge losses in the asset class.

Cryptocurrency data analytics platform IntoTheBlock indicates the number of Bitcoin investors currently in profit, loss, or breakeven. At the current Bitcoin price, at least 48% of BTC holders are at a loss. On the other hand, about 47% of BTC investors are in profit at the current Bitcoin price of $19,062, while 4% are currently at break even. The data also indicated that 64% of holders held BTC for more than a year. 31% hold BTC for between one to twelve months and only 5% hold BTC for less than a month.

Popular Twitter cryptocurrency analyst Plan B recently commented on the number of Bitcoins trading at a loss. According to Plan B, 50% of all 19M Bitcoins are at a loss. But the interesting point is that it also indicates the bottom. Bitcoin was at the bottom in 2011, 2015, and 2019 when 50% of holders were underwater.

Ripple CTO Reveals He Was Hired To Find Alternative To Proof of Work As XRPL Is The First Not To Use PoW

Mark Brennan
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Ripple CTO Reveals He Was Hired To Find Alternative To Proof of Work As XRPL Is The First Not To Use PoW

Ripple CTO David Schwartz Reveals That He Was Hired To Find An Alternative To PoW At Ripple As He Asserts XRPL Is The First Not To Use PoW.


The XRP Ledger is unique and represents a historic feat, paving the way for other technologies to choose their path.

The XRP Ledger (XRPL) is one of the oldest blockchain networks and, unsurprisingly, one with increasing adoption and several payment applications thanks to Ripple’s On-Demand Liquidity service.

One of the lesser-known facts about the network is that it was the first not to use proof-of-work (PoW), as highlighted by Ripple’s chief technology officer and one of the original XRPL designers, David Schwartz. Notably, Schwartz claims that the solution to replacing the PoW consensus model was the basis for which Ripple founder Jed McCaleb hired him.

“Yep,” Schwartz said in response to an inquiry by Stefan Huber asking if XRPL is the first not to use PoW. “When Jed McCaleb first hired me back in 2011, the question he hired me to answer was whether you could swap out PoW for a distributed agreement algorithm more like PBFT and keep bitcoin’s benefits.”

It bears mentioning that XRPL is unique as it does not use PoW or proof-of-stake (PoS) but instead uses a proprietary consensus algorithm designed by Schwartz, Noah Youngs, and Arthur Britto. Notably, the protocol is capable of reaching a consensus without complete agreement on which nodes make up the network.

As reported by The Crypto Basic days ago, a patent document revealed that Schwartz might have come up with the XRPL concept in 1988. Notably, Ripple, the company behind the network, is currently embroiled in a legal battle with the US Securities and Exchange Commission (SEC), as the regulator hopes to prove that the network’s native token, XRP is an unregistered security.

Terra Founder Set To Disclose Why He Refused To Return To South Korea As Laura Shin Confirms Interview Date

Mark Brennan
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Terra Founder Set To Disclose Why He Refused To Return To South Korea As Laura Shin Confirms Interview Date

 

Laura Shin confirms the date for the Do Kwon interview following his acceptance to appear on her podcast.



In a tweet today, popular crypto journalist Laura Shin confirmed that her interview with Terra founder Do Kwon would happen on Friday morning.

Notably, the journalist has requested that users submit questions in her DM.

“I’m interviewing Do Kwon Friday morning,” said Shin. “If you have questions to suggest, my DMs are open.”

As reported by The Crypto Basic a week ago, Terra Founder Do Kwon accepted Shin’s invitation to appear as a guest on her podcast to disclose why he has failed to return to South Korea.

Notably, Trustless media co-founder and Coinage host Zack Guzman, the last journalist to interview the Terra founder, disclosed in an episode of Shin’s Unchained podcast that Kwon had expressed the sentiment that he may be reluctant to return to South Korea should capital market charges be brought against him. Consequently, Shin asked Kwon on Twitter if that was why he had so far failed to return to face charges against him, to which the founder opted to discuss the matter in her podcast.

It bears mentioning that South Korean Authorities believe that Kwon is on the run after the Terra founder supposedly fled Singapore following the issuance of an arrest warrant against him by South Korean authorities. As a result, prosecutors have obtained an Interpol red notice to aid his arrest. However, despite all of these, Kwon remains at large.

Kwon is wanted for charges of fraud in relation to the Terra ecosystem collapse and a breach of the Capital Markets Act, implying that authorities now classify Luna as security.

It is worth noting that despite the charges against him and the mounting desire for his arrest by prosecutors, Kwon has maintained an active online presence. Additionally, the Terra founder has not shied away from commenting on the case and giving interviews.

While some see him as brave, others worry that the continued disclosure will only serve to hurt his case and is likely not sit well with his legal advisors. Meanwhile, some believe that the founder may have given up on legal recourse and turned his efforts to the court of public opinion.

The crypto community has received the confirmation of the interview date with excitement, as no doubt many people still have burning questions about the Terra collapse that threatened to bring down the entire industry and wiped away investments.

XRP Holders Joining Attorney Deaton’s Class Action Against SEC Surpass 75,000

Lele Jima
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XRP Holders Joining Attorney Deaton’s Class Action Against SEC Surpass 75,000

More XRP holders are now against the SEC for causing them huge losses via its lawsuit.



The number of Ripple (XRP) holders represented by attorney John Deaton in a class action against the Securities and Exchange Commission has continued to increase. 

Over 75,000 XRP holders have joined Deaton’s class action against the SEC. A few weeks after, attorney Deaton disclosed that the number of XRP holders in the suit had surpassed 71,000.

As the lawsuit between the SEC and Ripple enters the summary judgment phases, more XRP holders see the need to join Deaton’s class action.

The class action is due to the huge losses XRP investors suffered following a lawsuit filed by the SEC against Ripple. The Securities and Exchange Commission claims that XRP is a security, adding that Ripple breached U.S. securities laws by conducting an unregistered offering for the cryptocurrency in 2013.

After the SEC filed the lawsuit, several United States-based crypto exchanges like Coinbase were prompted to discontinue support for XRP. These cryptocurrency exchanges fear that the SEC could probe them for facilitating the trading of XRP, which it claims to be a security.

Following the de-listing of XRP from various U.S.-based exchanges, the value of XRP crashed tremendously, plunging many investors into huge losses. Ripple General Counsel Stuart Alderoty described the SEC lawsuit against the SEC as a rug pull on XRP investors.

Attorney Deaton’s Push for Justice

Meanwhile, attorney Deaton is determined to get justice for XRP victims of the SEC lawsuit, and the process has continued to gain momentum.

In a recent tweet, the Crypto Law founder called on the XRP community to provide info about Ripple, Bitcoin, and Ethereum’s market capitalization as of January 3, 2018.

“I need help with something. How can I determine how much of the total market cap Bitcoin, ETH, and XRP made up in January 2018?…” Deaton requested.

The official Crypto Law Twitter account also echoed Attorney Deaton’s request, asking community members to engage with Deaton for the required information as he continues to work on behalf of 75K XRP holders.

A Dormant Wallet Moves 2.8 Trillion Shiba Inu After Months

Zabi
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A Dormant Wallet Moves 2.8 Trillion Shiba Inu After Months

The mysterious wallet transferred a staggering $29.16 Million worth of Shiba Inu (SHIB) to the unknown wallet.


The Whale Alert, an entity that tracks and reports blockchain analytics and transactions, recently conveyed that a Shiba Inu Whale that has been dormant for nearly two months has just gone active. The crypto wallet transferred a whopping 2,871,107,075,474 (2.87T) SHIB, worth $29,164,849 ($29.16M), to the newly created anonymous wallet in one significant transaction about 10 hours ago.

The transferred amount is the same that the dormant whale received in her wallet on August 9th, 2022 (about 64 days ago) from another unknown wallet. Following the gigantic transfer, the dormant Shiba Inu Whale is now left with 0 SHIB balance, Etherscan.io data reports.

Unknown Wallet Transferred 29.16 Million Worth of Shiba Inu to Unknown Wallet
Unknown Wallet Transferred 29.16 Million Worth of Shiba Inu to Unknown Wallet

The news has had no immediate impact on Shiba Inu’s price. At the time of writing, Shiba Inu is seen trading at the price of $0.00001000, down -3.1% over the last day, with a 24-hour trading volume of $144,421,355 ($144.42M). Moreover, as per the data provided by CoinGecko, Shiba Inu lost -22.1% of its value in the past 30 days, -10.1% in the past 14 days, and -12.5% over the last week.

Binance Extends Support For Terra Classic Tokens Adds USTC As a Borrowable Asset On Its Loans Platform

Mark Brennan
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Binance Extends Support For Terra Classic Tokens Adds USTC As a Borrowable Asset On Its Loans Platform

Binance Adds Terra UST Classic (USTC) As a Borrowable Asset On Its Crypto Loans Platform.



Binance has expanded support for Terra classic tokens.

Binance, the world’s largest cryptocurrency trading platform, announced today that it added Terra UST Classic (USTC) as a borrowable asset on Binance Crypto Loans. The exchange made this known in an announcement today, saying that USTC would join the list of cryptocurrencies its users can borrow to engage in spot and margin trading. 

“Binance has added USTC as a new borrowable asset on the Binance Loans platform,” the exchange said. 

The world’s largest cryptocurrency exchange by 24 hours trading volume currently supports a wide range of crypto as a borrowable asset on the platform. Some of the cryptos in the list include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), BUSD, and ApeCoin (APE), among others.

It is worth noting that before users can borrow USTC, they would be required to tender collateral in any of the crypto assets supported as collateral assets.

The Binance Crypto Loan platform features options such as interest rates, maximum loanable limits based on market conditions, etc.

Binance Leads Support for Terra Classic Tokens

The announcement will be massive among members of the Terra classic community. With USTC added as a borrowable asset on the Binance Crypto Loan platform, many users can access digital currency and use it for spot and margin trading purposes.

Lately, the Terra classic community has been eager for any news that could bolster the adoption of Terra Classic tokens. The latest announcement is a step in the right direction.

Binance has been a huge supporter of the Terra classic project since its collapse. The exchange has rolled out support for Terra classic tokens – USTC and Luna Classic (LUNC) – in various ways.

As reported by TheCryptoBasic, Binance said it would implement a mechanism to help burn fees for LUNC spot and margin trading activities. 

Binance has kept to its word so far, as the exchange has succeeded in burning over 8.5 billion LUNC tokens.

I-Remit Officially Files Amicus Brief Says “SEC Dramatically Underestimates Ripple ODL Importance”

Mark Brennan
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I-Remit Officially Files Amicus Brief Says “SEC Dramatically Underestimates Ripple ODL Importance”

I-Remit Officially Files Amicus Brief In Support Of Ripple.



I-Remit believes that the US SEC has ignored a key aspect of how customers use XRP.

In a tweet today, former US prosecutor James K. Filan, who has been closely following the Securities and Exchange Commission (SEC) case against Ripple, disclosed that I-Remit has officially filed its amicus brief in support of Ripple.

In the shared document, the Philippine remittance company, in detail, explains its reliance on the RippleNet software based on its On-Demand Liquidity (ODL) service to facilitate efficient international transactions. I-Remit emphasizes that Ripple’s ODL service, which uses XRP as a bridge currency in facilitating remittances, does not involve any form of speculation. However, it says the SEC, in its bid to paint XRP as a security, has completely ignored ODL customers, downplaying the relevance of the service in XRP’s application.

“The SEC dramatically minimizes and underestimates the importance of ODL,” I-Remit wrote. “The SEC’s lawsuit paints ODL as essentially a distraction and not a key aspect of the way in which XRP is used. In the SEC’s telling, XRP is principally bought and sold as an investment vehicle. Customers of ODL do not seem to matter to the SEC.”

It bears mentioning that Ripple’s ODL service is one of the biggest applications of XRP. The service, which just expanded to France and Sweden, services up to 25 payout markets, with Ripple recently asserting that it has attained an annual volume run rate of $15 billion.

However, despite all of these, the SEC has continued to assert that the token offers little utility besides market speculation on its price. As such, claiming it is an investment contract dependent on Ripple.

I-Remit says, “SEC contention that XRP is an investment subject to securities act is not accurate…”

XRP Supporters Respond

Unsurprisingly, the amicus brief by I-Remit has attracted the attention and support of the XRP community.

In response to the brief, Crypto Eri, an XRP influencer and YouTuber, decried the lack of proper research by the US SEC. As per Crypto Eri’s statements, the commission has failed in its primary goal of protecting users.

“The SEC_Enforcement miscalculations based on poor research of XRP utility is quite apparent. Shameful waste of tax dollars & failure to protect investors with reckless action. SEC is 100% shotty & corrupt.Get the dustpans ready.”

On the other hand, Attorney John E. Deaton, who represents XRP holders in the capacity of amicus curiae, mocked the SEC attorneys for previous statements asserting that XRP had little utility.

 

It bears mentioning that I-Remit is one of two firms that recently declared interest in filing an amicus brief in support of Ripple. Despite resistance from the SEC, Judge Analisa Torres on Tuesday approved the requests. 

Notably, the remaining party, TapJets, also has till tomorrow to submit a brief.

It bears mentioning that Ripple’s CEO, Brad Garlinghouse, has disclosed that he expects a ruling on the case in the first quarter of 2023.

Top Companies Choose Polygon (MATIC) as Preferred Blockchain Partner 

Lele Jima
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Top Companies Choose Polygon (MATIC) as Preferred Blockchain Partner 

Polygon’s adoption continues to gain momentum. 

Polygon has gradually worked its way to the list of top blockchain networks in the world, thus attracting the interest of top-tier brands. The leading Ethereum scaling solution has been widely adopted by top household-name companies, including Adobe, Reddit, Starbucks, etc. 

Over the past 12 months, several top companies have partnered with Polygon, to boost their operations using the Ethereum Layer-2 scaling platform. This article will examine the top 5 projects that have adopted Polygon over the past year. 

DraftKings 

On October 18, 2021, Polygon entered into a blockchain collaboration with DraftKings Marketplace, a digital collectibles platform built by DraftKings. According to the announcement, the partnership will offer the DraftKings Marketplace an eco-friendly and scalable solution that will enable increased throughput and expanded capabilities. 

NFL 

In November 2021, the National Football League (NFL) partnered with TicketMaster to develop its non-fungible tokens (NFTs) on the Polygon network. The NFTs will be given to fans attending selected games in the league on a complimentary basis. 

Adobe 

Popular software company Adobe could not ignore the technological prowess of Polygon, as it made an important decision to partner with the Ethereum scaling solution. The partnership enabled Adobe to integrate Polygon’s solution into its Behance social media platform. 

Starbucks 

Last month, Polygon announced that it has partnered with Starbucks to provide the necessary technology that will result in the development of the coffee company’s Web 3 experience, dubbed Starbucks Odyssey. Under the partnership, members of the Starbucks loyalty reward program and the company’s employees in the United States will be allowed to buy digital collectible stamps as NFTs. 

Disney 

Disney selected Polygon alongside five other companies in July to join Disney’s 2022 Accelerator program. The initiative is a business and development program launched to bolster the growth of innovative companies globally.  

Aside from the above-mentioned companies that have partnered with Polygon, the Ethereum Layer-2 scaling tool was also adopted by Mercedes Benz, Meta, and Reddit.

XRP Ledger Just Hits 75 Million Blocks, Highlighting Growing Adoption Rate

Albert Brown
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XRP Ledger Just Hits 75 Million Blocks, Highlighting Growing Adoption Rate

 

Ripple’s XRP Ledger (XRPL) has processed over 75 million blocks, indicating a rapidly surging adoption rate.


Blockchain has introduced myriad benefits to the financial sector and other areas of everyday life. As a consequence, Ripple is building on the nascent technology, as it introduces scalability that could only have been dreamt of a decade ago with its XRP Ledger (XRPL).

Due to its robustness, XRPL has enjoyed massive adoption from several firms within and outside the crypto space. Recent data highlight this growing adoption, as XRPL appears to have processed over 75 million blocks as of press time.

A look at XRPL statistics on the XRPL Services platform reveals some impressive data on the ledger. The ledger index, which tells the blockchain’s latest block, shows an index of 75,013,727. This indicates that the ledger has processed over 75 million blocks cumulatively – an impressive achievement.

XRP Ledger completes 75M Blocks
XRP Ledger completes 75M Blocks

The stats indicate that the XRPL is home to over 4.3M accounts or wallet addresses. This data is confirmed by information from leading crypto market intelligence products provider Messari. Data from Messari shows that there are 4,336,389 wallet addresses on XRPL as of press time.

Out of the 4.3M+ accounts, about 473K have balances of at least $1K worth of XRP, with over 10K accounts holding XRP worth at least $100K. Furthermore, whale accounts with balances over $10M amount to 325 at the time of writing – which is 0.007% of the total address count of 4.3M.

Despite its seemingly incessant litigation with the SEC, XRP has been on a steady growth path. The recent Crypto Winter has also done little to check its expansion. Early last month, Seattle-based FinTech startup Stably announced a partnership with Ripple that will enable the firm to issue its stablecoin USDS on XRPL.

Colombia had launched an initiative to utilize XRPL for its National Land Registry. Although the initiative was suspended prematurely due to a change in government, it highlighted the massive mainstream attention the XRP Ledger is garnering.

As reported by The Crypto Basic today, in the most recent development, XRPL Labs Launched an On/Off-Ramp Service For XRP In The Netherlands, With Germany, Belgium, And The UK Possibly Next. XUMM Pro wallet users in the Netherlands can easily swap their Euro for XRP and vice versa without any third party.

Amidst this rising espousal rate, XRP – Ripple’s native token – has been putting up a decent fight against the bears. Following reports of Summary Judgement motions filed by Ripple Labs and the SEC in the seemingly neverending litigation, XRP surged massively.

From consolidating below $0.40 on September 19, XRP rallied to $0.50 in five days before meeting a fierce rejection. Despite the rejection, the asset held up well above $0.44, staging another rally to $0.53 on Monday.

XRP currently trades at $0.49, down by a meager 0.90% in the past 24 hours. Notwithstanding, some analysts believe XRP’s recent rally might have seen its terminus, forecasting a looming correction. As previously reported, analyst Ali Martinez predicted a correction to the levels between $0.39 and $0.42.

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