⏺News digest November 15, 2022

⭐️The Bahamian regulator accused FTX of fraud and launched an investigation.

⭐️Changpeng Zhao, CEO of cryptocurrency exchange Binance, claims that along with other industry players, the company is going to lead efforts of setting global standards after the bankruptcy of its rival FTX.

⭐️According to CryptoQuant, users sold $3.7 bln worth of Bitcoin and $2.5 bln of Ethereum from exchanges around the world in a week after the FTX collapse.

⭐️$V Visa terminates its debit card agreement with FTX.

⭐️The Japanese branch of FTX is negotiating with its lawyers the possibility of cryptocurrency payback to local users after the sudden bankruptcy of its parent company.

⭐️Non-custodial wallet Trust Wallet announced the launch of its extension in Chrome, Brave, and Opera.

⭐️The Bitget exchange is creating a $5 mln Builders Fund to help professional traders, partners, influencers, and others who suffered from the FTX bankruptcy.

⭐️Binance launches a recovery fund for cryptocurrency industry. Binance is now called the last hope of the cryptocurrency industry. Indeed, this giant is ready to urgently save the situation.

🔔 Hot news from CEO of Relictum Blockchain

Dear community,

🤪 If you want to be the first to receive the latest news about the project from CEO of Relictum Blockchain Alexander Strigin, follow him on Twitter and LinkedIn:

➡️Twitter

➡️Linkedin

Sincerely, Relictum Blockchain team.

🗣Interview with CEO of Relictum Blockchain

Alexander Strigin, CEO at Relictum Blockchain, was interviewed by Bitcourier, where he shared information about his journey from a crypto enthusiast to a professional in the blockchain industry:

💬 "I formed a team of people who were on the same page as me and began to bring all my most daring ideas to life."

Alexander also revealed the most important and priority plans of Relictum Blockchain for the next 6 months.

BitCourier is an online publication and the first community of crypto enthusiasts targeted at the UK.

➡️ Read more

⏺News digest November 16, 2022

⭐️AAX crypto exchange at risk of capital deficit, says market vulnerable from FTX collapse

⭐️U.S. Banks Launch a Digital Dollar Blockchain Pilot

⭐️Apple Pay partners with Circle

⭐️Relictum Blockchain CEO Alexander Strigin attended the AIBC summit, which will be held on November 15-18

⭐️Relictum Blockchain CEO Alexander Strigin gave an interview for Bitcourier

⭐️Crypto lender BlockFi is preparing for possible bankruptcy filings after halting customer withdrawals as it acknowledged “significant exposure” to bankrupt cryptocurrency exchange FTX

⭐️Paxos freezes $19 million stolen from FTX

⭐️FTX bankruptcy caused $2.85 billion outflow from Binance

⭐️Amazon plans to lay off about 10,000 employees

🟡Cross-chain bridges. What are cross-chain bridges? | Part 1/3

Money is an important part of life in the physical world. People use it to pay rent, buy food or travel. When it comes to international travel, they follow a familiar scenario to exchange their money for the currency used by the destination country. Web 3.0 features a similar mechanism called cross-chain bridging.

A cross-chain bridge, also known as a blockchain bridge, is a connection between two blockchains that can be used to perform actions like moving assets or data from one chain to another. Technically, this creates an interaction between two ecosystems. In addition, the bridge is also needed due to the growing number of decentralized apps (dApps) on various blockchains and “level 2” solutions. Their goal is to improve their own unique features associated with security and trust.

Importance of cross-chain bridges

Differences in protocols, managing structure, and other factors limit the ability of various ecosystems to interact. This is due to certain limitations of the blockchain ecosystems. This means that a particular network is unable to monitor and understand the activities of other networks. However, blockchain bridges create interoperability within Web3. The isolation of each blockchain economy requires mandatory use of a blockchain bridge.

How does it work?

Token transfer is one of the many ways a blockchain bridge operates. Smart contracts are used to lock up a certain amount of cryptocurrency that a user is willing to transfer from one blockchain to another. A tokenized version of another cryptocurrency, also known as a "wrapped token", is usually unwrapped immediately after the first token type is locked.

⏺News digest November 17, 2022

⭐️On November 17, Relictum Blockchain CEO will speak at the AIBC Summit

⭐️El Salvador’s president took it to Twitter to announce that the country will resume its BTC buying spree as of tomorrow

⭐️Amazon $AMZN has begun massive layoffs of its employees, CNBC reported. Earlier it was reported that the company plans to lay off 10 thousand people, or 3% of the entire staff next week

⭐️Binance Pay integrated with Trust Wallet

⭐️BlockFi Prepares for Potential Bankruptcy

⭐️Crypto Winter May Last Until the End of 2023 - Coinbase

⭐️Demand for Ledger and Trezor Crypto Wallets Grows After FTX Crash

⭐️Australia suspends license for FTX

🟡Cross-chain bridges. What are cross-chain bridges? | Part 2/3

There are two main types of cross-chain bridges:

Trust-based bridges include a central system employed to verify and confirm user transactions when converting coins into various cryptocurrencies. Users rely on and trust control of their assets to centralized bridge operators. Fast and low transaction fees are some of the benefits of using trust-based bridges.

Trustless bridges use smart contracts and algorithms in all their operations. Unlike trust-based bridges, decentralized bridges lack operators responsible for executing transactions. As such, users do not have to worry about transferring their assets. Transparency and full control over assets are the benefits of using trustless bridges.

Relictum Blockchain bridge

There are many blockchain bridges aimed at the highest degree of interoperability. The Relictum Blockchain team is actively involved in this process and develops its own cross-chain bridges designed to ensure secure transactions among networks, including all the benefits of Relictum Blockchain.

Cross-chain bridges. What are cross-chain bridges? | Part 1/3

🔷Strategic decision of Relictum Blockchain CEO

📈The volume of spot trading on the LBank exchange increased by 34% in October, which indicates the increasing popularity of this CEX, as well as our proper strategic decision of choosing the first exchange for listing.

🥳Everyone, each member of our community, has contributed to this with the GTN/USDT trading volume. Together, we became the driver called "liquidity".

🚀We can do anything! Together we can move heaven and earth and produce a result worthy of your attention and loud applause!

🤞I would like to note everyone’s contribution to the project future.

🤞Teamwork makes the dream work!

Sincerely yours,

Relictum Blockchain team

⏺News digest November 18, 2022

⭐️The Relictum Blockchain team is actively participating in the AIBC Summit, which takes place in Malta on November 15-18

⭐️Relictum Blockchain CBDO Roman Cherkashin took part in a panel discussion devoted to the #GameFi industry

⭐️Media: US authorities will check the participation of Binance in the collapse of FTX

⭐️Today, Binance temporarily disabled USDT and USDC deposits on the Solana network, other exchanges did the same

⭐️Binance $BNB to Resume Trading for Failed Lender Voyager

⭐️CZ considers buying Genesis and Voyager Digital

⭐️Multicoin Capital lost over half of its capital due to FTX

⭐️Inflation in the Eurozone rose to 10.6%

⭐️UK announces recession

🟡Cross-chain bridges. What are cross-chain bridges? | Part 3/3

Benefits of Blockchain bridges

Aside from interoperability, there are other benefits of blockchain bridges.

Scalability: bridges are able to handle a large volume of transactions by distributing traffic across many ecosystems. The connection created by bridges increases the network scalability.

Efficiency: low fees result from using bridges. Besides, assets can be moved from a non-scalable chain to a better performing one. Inexpensive and fast transactions open the way for DeFi and dApps.

Flexibility: cross-chain bridges help users transfer their data and assets with the added benefit of accessing blockchain technologies.

Interoperability: bridges ensure connectivity not only between blockchains, but also between parent and child chains, which enables to deploy dApps on the DeFi platform.

Conclusion

Multiple challenges and changes are expected in the cryptocurrency economy with the continuous promotion of innovation, free trade, and economic growth. As the number of blockchain networks continues to grow, they keep struggling with the same thing: the boundaries that separate one ecosystem from another. Blockchain bridges are some of the vital factors offering a promising path to building the big future of a public decentralized network. The joint efforts of great developers to solve problems within the community are taking Web 3.0 to the next level, promoting not just innovation, but also technological relevance and user acceptance.

Relictum Blockchain expands options for users to improve security, efficiency, and scalability. Blockchain bridges will help transform the Internet by ensuring the smoothest user experience and creating an innovative and exciting bridge to the financial world.

🟡Cross-chain bridges. What are cross-chain bridges? | Part 1/3
🟡Cross-chain bridges. What are cross-chain bridges? | Part 2/3

🔷 #AIBC Summit.

https://twitter.com/x404web/status/1593647128190099459?t=c8-lAAq5NTQzjEEEZyA-MA&s=35

⏺News digest November 21, 2022

⭐️The Relictum Blockchain team took part in the AIBC Summit on November 15-18

⭐️Apple and Circle become partners, we are waiting for the appearance of USDC in Apple Pay

⭐️Warren Buffett buys Taiwanese semiconductor maker TSMC for $4.1 billion

⭐️FTX's Sam Bankman-Fried Cashed Out $300M Of $420M In 2021 Funding Round, Sources, Documents

⭐️120 FTX-related firms file for bankruptcy

⭐️Ripple will consider buying FTX assets

⭐️Nike builds its own Swoosh Web3 platform

⭐️The Central Bank of the Russian Federation announced the 15th issue of CFA for 170 million rubles

⭐️Cristiano Ronaldo to release NFT collection on Binance

⭐️Japanese exchange Liquid has stopped withdrawing funds

⏺News digest November 22, 2022

⭐️WSJ: Binance refused to save Genesis Trading. Bitcoin exchange Binance will not invest in Genesis Trading as the crypto lending platform seeks $1 billion in emergency funding, The Wall Street Journal reports.

⭐️Share prices for America’s largest and most profitable crypto exchange, Coinbase, have slumped. The rout has been so bad that COIN hit an all-time low

⭐️New York multinational bank JP Morgan officially registered a trademark for a cryptocurrency wallet

⭐️The hacker who robbed the FTX exchange was in 27th place in the ranking of whales - the richest owners of ETH

⭐️Binance Invests in Crypto Hardware Wallet Manufacturer NGRAVE

⭐️Pantera Capital COO Matthew Gorham said that the fund bought BTC for $137 million. 141 accredited investors participated in the purchase transaction. Minimum investment — $50,000

👌 YOU GOT A QUESTION? WE GOT AN ANSWER!

Dear community,

📆 а live broadcast will be hosted on the Relictum Pro YouTube channel as part of the #asklive program on November 24 at 5:00pm (GMT+3). A special guest who will answer your questions will participate!

Remember that you can ask your questions ➡️ in the chat with the hashtag #asklive, and we’ll answer them live!

🤩The Relictum team appreciates a productive dialogue with the community in order to improve our product with each next step based on your feedback!

➡️Ask your questions in the chat, and we’ll answer them and share the important information about the project!

⏺News digest November 23, 2022

⭐️Attention Windows users, a Trojan is roaming the net to steal cryptocurrencies under the guise of an extension for Google Chrome

⭐️Binance Launches Cloud Mining Service

⭐️Kathy Wood went for broke and bought 176,945 shares of BTC trust from Grayscale

⭐️Crypto exchange Huobi announced a rebranding and a plan to return to the market tops

⭐️FTX Group has $1.24 billion on its balance sheet

⭐️Iris Energy shuts down mining rigs due to loan

⭐️CoinMarketCap now shows reserves of exchanges

⭐️Genesis warns of possible bankruptcy

⭐️Binance denied investment to Genesis

🛡 Importance of the digital asset security

We witnessed the third largest centralized exchange falling overnight. This is why we believe it’s time to tell you about the benefits of your digital asset security.

Storing your assets on the exchange is actually one of the worst ways to hold your digital currency. We will discuss the importance of digital security and the concept of private keys today.

➡️ Read more