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Coinbase Launches Open Source Encryption

The library will help develop complex cryptographic techniques to meet the needs of the growing DeFi industry.

On Monday, Coinbase, the world’s fourth-largest cryptocurrency exchange by turnover, announced the creation of a new cryptography library, Kryptology, as a compendium of blockchain developer tools. This includes secure, audited, and easy-to-use APIs, as well as a repository of common issues and lessons learned throughout the history of cryptography.

Without encryption, cryptocurrencies like Bitcoin would be lines of digital code that anyone can copy/paste. It would be easily replicable and falsifiable, leading to big problems like spending double the money. Recent advances include Boneh-Lynn-Shacham, or BLS, companies that senders cannot deny the validity of their transactions, ensuring that their data is securely stored. Another recent adoption is the Shamir Secret Sharing, or SSS, algorithm. The SSS shares a secret security between several participants, called shareholders, who must work together to rebuild the secret. The setup is ideal for storing private keys that have access to decentralized finance, or DeFi, smart pools and contracts that lock a large amount of money.

Then there are zero knowledge tests, ensuring that encrypted messages can be transmitted and validated without revealing underlying personal data, making them ideal for use in complex DeFi applications. Finally, designing new elliptic curves, such as Pasta, could also potentially improve cryptographic portfolios.

One of the main areas of innovation in cryptography is privacy coins, which can allow users to avoid tracking blockchain forensic signatures and prevent outsiders from seeing the details of their transactions. Law enforcement agencies have rejected this technology because of its ability to promote illicit activities.

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77x Bitcoin – 77xbtc.com

77xbtc.com Investment Firm first entered the Bitcoin market in August 2011. At the time, the price for one Bitcoin was around $10 and there was a very small group of people who knew about it and its potential. It was not in the media and most investors that found out about it thought it would disappear. No one thought that an anonymous crypto-currency with no government or banks backing it could ever catch on. Not 77xbtc.com Investment Firm, we believed in Bitcoin back then and we still believe in it today.

77xbtc.com Investment Firm has developed an Bitcoin investment strategy that has been proven to provide the highest returns for our investors while keeping our fees relatively low. How our strategy works is when you invest with us your investment is added into a pool of Bitcoins from other investors with similar investment goals as you. We take that pool and trade it on open markets until the goal of each investor is met.

When that goal is met or the investment limit reached, we divide the pool back into parts and give the Bitcoins, plus the returns, back to the investors. How we keep our fees low is by treating our fees as an investor. Our fees have a flat rate that we convert into a negative Bitcoin amount and add to the pool. This way we can invest without worrying about fees because they have been already accounted for.

This is great for our investors because, the more people there are in the pool the lower our fee is. That allows the Bitcoins to be invested longer and more profits for our investors to be made. Also, one of the best things about us is that you never see the fees. Because we add the fees to the Bitcoin pool, we give you the returns with the fees already deducted. So when we say you will make a return of 7700%, we mean 7700%. Not 7700% minus our fees. We find this is the best way to keep our clients happy and keeps them coming back. Not to mention you make more money because of it.

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Croatian supermarket chain introduces cryptocurrency payments

Croatia’s biggest supermarket chain, Konzum, has announced that customers can now pay with cryptocurrencies to buy products from its online store.

Pay for groceries with encryption

The initiative was carried out in partnership with Croatian payment processor Paycek, developed by local financial technology company Electrocoin. With the new payment system, which started on December 1st, Konzum customers have the option to choose to pay with one of nine different cryptocurrencies on the store’s online retail platform. The cryptocurrencies accepted in the online store are Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Dai (DAI), EOS (EOS), Tether (USDT) and currency of USD (USDC).

PayCek integrates cryptocurrency payment service

To pay in encryption, customers can scan a QR code after adding their items to their online cart. A confirmation of the transaction, along with an invoice from Konzum, will be emailed to the customer shortly thereafter. To counteract fluctuating cryptocurrency prices, PayCek guarantees the buyer a fixed exchange rate at the start of the transaction and provides sufficient time for successful execution. PayCek is very experienced in integrating a cryptocurrency payment module into online stores, having previously provided the same service to Croatian electric bicycle company Greyp Bikes.

The cryptocurrency payment option at Konzum is currently limited to online purchases only. However, the conglomerate plans to introduce the service even in its physical stores.

Uroš Kalinić of Konzum’s management team noted that the initiative was an attempt to stay ahead of global trends.

“As the biggest minority chain in Croatia, which in its 65 years of history is a continuous leader in the national market in terms of commercial results and technological achievements, we are proud to be leaders in another area that is rapidly developing and dictating the future.”

Cryptocurrency Retail Payments

Despite a series of regulatory turmoil, cryptocurrencies are slowly but surely making their way into mainstream retail. For example, Newegg, a large California-based e-commerce company, had already started accepting BTC as payment in 2014. Then, in early 2021, Newegg began accepting payments from Dogecoin (DOGE), shortly thereafter by Litecoin (LTC). More recently, the company made the news again, this time for including the popular Shiba Inu (SHIB) memecoin in its list of acceptable cryptocurrencies.

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Crypto 100x Investment -crypto100x.net

Welcome to Crypto 100x, a new way to invest your money in prominent markets where thanks to our expertise you don’t really need any professional knowledge to generate profits. Our team at Crypto 100x is in charge of doing so, and under analysis and studies of the markets we are able to develop and perfect 3 investment plans which offer everything an investor like you can wish, constant profits in an agreed period of time with capital return.
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At Crypto 100x Investment we have a team of professional investment managers using time-tested financial market investment strategies. Our investment philosophy is based on preservation of investors’ capital and a high level of current income. Investing with Crypto 100x Investment is a great opportunity to protect and to raise your capital.

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US Treasury Secretary Yellen says it has not been decided whether the Fed should issue digital currency

US Treasury Secretary Janet Yellen says she has not decided whether the Fed should issue a central bank digital currency (CBDC). “There are some benefits” to a digital dollar, Yellen said, but noted that “there are also significant costs.”

Janet Yellen hasn’t decided whether the Fed should develop a digital dollar

Treasury Secretary Janet Yellen said Thursday during an interview at the Reuters Next conference that no opinion has been formed on whether the Federal Reserve should create a digital dollar.

She explained that the decision would require a broad consensus between Congress, the central bank and the White House. The Secretary of the Treasury believes that more study is needed on the advantages and disadvantages of having a central bank digital currency (CBDC) in the US, including its effects on the banking system. Yellen opined:

I see pros and cons in doing this. And my own opinion is not based on that.

According to the Atlantic Council’s Center for Geoeconomics, 87 countries (representing more than 90% of global GDP) are exploring a CBDC.

Federal Reserve Governor Lael Brainard has urged the Fed to urgently develop a digital dollar. She said in July that she cannot understand why the United States is not actively developing a digital currency for the central bank when China and other countries are. Brainard is President Joe Biden’s nominee for the position of Vice Chairman of the Federal Reserve.

Yellen, who was the 15th chairman of the Federal Reserve from 2014 to 2018, said the US central bank is expected to release a report detailing his work on a CBDC soon. She added that the Fed understands that consensus is needed to proceed.

However, the Treasury secretary said the question of whether the Fed should develop a digital currency for the central bank was not discussed “seriously” at the White House, explaining:

This is an important decision and needs consensus. There are some benefits, but also significant costs ... It can work to disintermediate the banking system. And, you know, we have to figure out the pros and cons. I still don't have a view.

Several Federal Reserve governors fail to see the benefits of the Fed issuing a digital dollar, including Governors Michelle Bowman, Randal Quarles and Christopher Waller. “I remain skeptical that a Federal Reserve CBDC would solve the significant problems facing the US payments system,” Waller said recently.

In September, Federal Reserve Chairman Jerome Powell shared an update on the progress of the digital dollar study. He insisted that the Fed is not behind other countries in the central bank’s digital currency (CBDC).