Cryptonoyan

The Web 3 ecosystem continues to proliferate in 2022 with more innovative ideas introduced to the space. The Soulbound Tokens, also known as SBTs, are among the latest innovations in the space, aiming to stretch blockchain use cases. Blockchain developers continue to overcome challenges faced by the first blockchain networks to grow the industry, to improve scalability, and interoperability across the industry.

As a result, Ethereum co-founder Vitalik Buterin, alongside his counterparts, lawyer Puja Ohlhaver and economist E. Glen Weyl proposed the Soulbound Tokens. A concept that builds on NFT use cases and provides a unique proposition that could increase blockchain technology’s utility.

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Throughout 2022, one of the industries that has been affected the most by supply chain disruptions and inflation is the semiconductor industry. As if navigating these economic headwinds weren’t challenging enough, the federal government recently imposed restrictions on the sale of chips designed by the likes of market leaders Nvidia (NVDA 0.32%) and AMD to China and Russia, citing national security threats. This news came one week after Nvidia’s lackluster second-quarter fiscal 2023 results.

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Members of the Mohawk Council of Kahnawake (MCK) and the newly formed Kahnawake Blockchain Technologies (KBT) are enthusiastic about the possibility of boosting the region’s potential for economic growth via cryptocurrency mining.

In order to power cryptocurrency mining activities, members of the Mohawk Nation are investigating the possibility of obtaining electricity from Hydro Quebec to research crypto-mining opportunities that could be added to the council’s economic development portfolio, as per a report from Canada’s Local Journalism Initiative.

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Ethereum’s historic change of the way it processes transactions went live early Thursday without any hiccup, disappointing traders positioned for a spurt in volatility.

The Merge, marking the network’s shift to a more energy-efficient “proof-of-stake,” happened at 6:43 UTC, following which ether (ETH) witnessed a short-lived spike from $1,600 to $1,655. At press time, bitcoin (BTC) and ether were trading flat on the day.

“Happy Merge Day. Historic day in Crypto as the Merge completes successfully and somewhat uneventfully, which is a testament to ETH Devs,” over-the-counter institution-focused tech platform Paradigm said in its Telegram broadcast, taking note of subdued price action and a drop in ether’s implied volatility or expectations for price turbulence.

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