Explained
Sniper bots are automated tools executing precise actions at specific moments in cryptocurrency and online activities, aiming for strategic advantage.
Transactions News
Transactions form the backbone of any economic system, facilitating the exchange of goods, services or assets between parties. In the digital age, cryptocurrency transactions, notably those involving Bitcoin (BTC), have revolutionized how we exchange value. In the crypto world, a Bitcoin transaction involves transferring ownership of a specific amount of Bitcoin from one digital wallet to another. These transactions are recorded on a public ledger called the blockchain, ensuring transparency and security.
The sender generates a digital signature to verify ownership before initiating a Bitcoin transaction and broadcasting it to the network. The validity of the transaction is then confirmed by miners using intricate mathematical algorithms. The transaction is recorded permanently on the blockchain after it has been verified and added to a block.
A digital wallet, which can be hardware or software-based and contains cryptographic keys that let the owner access and manage their money, is required to spend Bitcoin. Funds can be safely transferred using the recipient’s Bitcoin address, allowing people to easily participate in the global digital economy.
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A mempool developer suggested that the user behind the transfer might not be aware of the non-cancellation of replacement fees policy, resulting in an accidental $3.1 million transaction fee.
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Gresham’s law suggests “bad money drives out good,” making people hoard cryptocurrencies using traditional currencies for daily transactions.
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Ethereum gas fees reportedly breached the $200-mark for certain high-priority transactions in the last 24 hours.
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Metadata in blockchain refers to additional information or data that can be associated with transactions or other elements on a blockchain network.
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Blockchain data from Etherscan suggest Scroll’s mainnet went live over a week ago.
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Blockchian network congestion results in delayed transaction confirmations, increased costs and a slower user experience.
- Spotlight
A digital wallet system is reshaping the financial landscape by targeting non-tech-savvy users to make Web3 easy for everyone.
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A report from the Bitcoin-only exchange River suggests increased Lightning usage will play a key role in Bitcoin becoming a better medium of exchange.
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Gitcoin’s project lead said the snafu has resulted in nearly half a million dollars of funds being locked in a one-way contract address.
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The head of the U.S. financial consumer watchdog says it’s looking to issue guidance on how crypto could fall into electronic fund transfer laws.
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Finality ensures irreversible transactions — crucial for trust and security — prevents double-spending and fraud, and keeps blockchain records immutable.
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COVID-19 pandemic-induced disruptions in traditional finance, coupled with the promise to reduce operational costs, set the stage for mainstreaming the digital ecosystem.
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Crypto activity in East Asia fell from its perch after China began its crusade against crypto in 2019. Recent moves by Hong Kong could help reverse that trend, said the blockchain analytics firm.
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The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occurring off-chain.
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