Crypto Market Could Grow by 1 Million Users in a year

The Australian cryptomarket might reach 1 million users this year. By 2023, over a million Australians will have acquired cryptocurrency for the first time. Analysts predict that the overall number of cryptocurrency users will approach 5 million in the next 12 months. Within a few years, more than half of adult Australian residents under the age of 50 will own cryptocurrency.

Almost a quarter of Australians own cryptocurrencies or have prior experience with digital assets. The absence of dependable government regulation and a lack of awareness of crypto technological principles are among the key negative factors impacting the degree of digital asset ownership. The Australian Ministry of Finance aimed to exclude cryptocurrency assets from taxes as a foreign currency and urged individuals to participate in this discussion.

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White Hat hacker was offered a $500,000 reward from Poly Network

Following a breach that resulted in the loss of $610 million by cryptocurrency exchange Poly Network earlier this week, the company announced a $500,000 "bug reward" to whoever was responsible. With an emphasis on enabling users to move or exchange tokens across various blockchains, Poly Network is a decentralized finance (Defi) platform that enables peer-to-peer transactions intending to facilitate peer-to-peer transactions. He had "helped us improve Poly Network's security," the company said. A "white hat" hacker tries to disclose cyber vulnerabilities. "Mr. White Hat" was also to get a $500,000 reward as part of the digital money repatriation talks. It said that the hacker had replied to the offer, but did not specify whether or not the offer had been accepted. However, it has been reported that the hacker has returned $340 million in money and has transferred the bulk of what is left to a digital wallet owned by them and Poly Network, acc

Why Energy Concerns Around Blockchain May Be a Misconception

Blockchain has made headlines recently for using more energy than airlines or even entire countries. Different types of chains have different impacts on the environment based on how they're designed. The proof-of-stake (POS) model is significantly more energy-friendly than the traditional Proof of Work (POW) model. Blockchains operate differently than traditional IT systems. Different types of chains have different impacts on the environment based on how they're designed. Proof-of-work (POW) is what's behind traditional "mining," where miners compete to solve a mathematical puzzle. The Bitcoin Foundation has switched to a more energy-friendly model of proof-of-stake. Proof-of-stake (POS) requires those working on the chain to have skin in the game. POS also reduces power consumption and accelerates the handling of transactions. The model is being adopted by big names in the industry such as Bitcoin, & Ripple.

Nigeria follows China's lead in experimenting with digital currency

Despite the fact that central banks are in charge of overseeing the global circulation and supply of money, the stratospheric rise of cryptocurrencies puts their authority, control, and power at risk. Therefore, central banks around the world have begun to create their own digital currencies as a result of this development. A historic movement has taken place on Africa's continent this week with the inclusion of Nigeria, which has benefited from local activity and interest in cryptocurrencies. Nigeria is currently the world's second-largest market for cryptocurrency trading after the United States. The country's central bank is launching the first digital currency in Africa today, following three years of preparation. With the addition of China, Sweden, and South Korea to the list of countries now experimenting with central bank digital currencies (CBDCs), a total of 81 countries are currently involved in CBDC research at various stages. Except for the Bahamas, Grenada, S

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