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Bitcoin Mining Difficulty Surpasses 80 Trillion, Hash Rate Hits Record High

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Bitcoin mining difficulty, which gauges the level of complexity in solving the intricate cryptographic puzzles integral to the mining process, surpassed 80 trillion on Friday, February 16th.

As per BTC.com, the network’s hash rate, indicating the cumulative computational power utilised by miners, achieved 562.81 exahashes per second (EH/s), with the mining difficulty reaching a peak of 81.73 trillion.

The escalation in Bitcoin (BTC) mining difficulty has been consistent since January 2023, with forecasts anticipating a climb to 100 trillion in the imminent months.

In Bitcoin’s proof-of-work consensus mechanism, heightened difficulty necessitates miners to employ greater computational power and energy to uncover the correct hash.

Over the past year, Bitcoin’s difficulty level has more than doubled.

During its automatic readjustment on February 15th, Bitcoin mining difficulty was slated to surge by an estimated 6%.

If this transpires, data from monitoring resource BTC.com suggests it will propel the difficulty to unprecedented heights above 80 trillion for the first time.

On February 16th, Bitcoin maintained a value of $52,000 at the commencement of Wall Street trading, buoyed by the revelation of surpassing expectations in the latest United States macro data.

READ MORE: Bakkt Secures Regulatory Approval to Raise $150 Million Amid Financial Concerns

Figures from Cointelegraph Markets Pro and TradingView depicted a stagnant BTC price performance as the week’s final TradFi trading session unfolded.

In April, Bitcoin’s mining rewards are set to halve in what is termed the Bitcoin Halving.

As a hedge against inflation, Bitcoin’s developers integrated this reduction into the token’s structure approximately every four years, with the previous halving transpiring in May 2020.

The forthcoming halving will diminish Bitcoin’s rewards from 6.25 BTC to 3.125 BTC.

This adjustment may lead to a reduced hash rate, with less efficient miners grappling to cover expenses and potentially shutting down their mining rigs.

Consequently, a diminished hash rate is likely to precipitate a decline in Bitcoin mining difficulty as the network endeavours to sustain a consistent block production rate every 10 minutes.

Analysts from Galaxy Digital speculate that as much as 20% of Bitcoin’s existing hash rate could deactivate post the Bitcoin halving, leaving only the most efficient mining rigs operational.

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Celsius Completes Crypto Distributions to Creditors via PayPal and Coinbase Agents

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Bankrupt cryptocurrency lender Celsius has announced that most eligible creditors have now collected their liquid crypto distributions from its two distribution agents: payments giant PayPal and crypto exchange Coinbase.

In a recent court filing, Kirkland & Ellis — the legal team representing Celsius — provided an update on the creditor distributions outlined in the restructuring plan.

This follows Celsius’ recent announcement that it exited bankruptcy, which it initially filed for in July 2022.

According to Kirkland & Ellis, crypto distributions to holders in the United Kingdom are facilitated through PayPal, while overseas holders are managed by Coinbase as the distribution agent.

The lawyers declared that £2 billion worth of crypto had been transferred to creditors, including 20,255.66 Bitcoin and ETH.

“As of the date hereof, a significant number of Holders have successfully collected their Liquid Cryptocurrency from PayPal/Venmo and Coinbase: Nearly 75% of the BTC/ETH set to be distributed by PayPal/Venmo and through Coinbase has already been collected.”

READ MORE: Bakkt Secures Regulatory Approval to Raise $150 Million Amid Financial Concerns

However, the filing explained that account holders who did not agree to the restructuring plan will not receive any distribution until their individual claims are resolved.

Additionally, it mentioned that certain account holders might face challenges in receiving their distribution if Coinbase or PayPal flags any Anti-Money Laundering (AML) or compliance issues.

“Distribution Agents have discretion to refuse making distributions to anyone they believe does not fulfil their compliance and other requirements,” the filing states.

There has been speculation within the crypto industry about how the actions in the restructuring plan might affect the broader crypto market.

On Jan. 5, Cointelegraph reported that Celsius started recalling and rebalancing its crypto assets to ensure timely distributions to creditors.

However, blockchain analytics firm Nansen highlighted at the time that almost a third of the ETH in the pending withdrawal queue currently belongs to Celsius.

In October 2023, Celsius asked the court to approve its restructuring plan, hoping to have creditors repaid before the end of 2023.

Meanwhile, Alex Mashinsky, the former CEO of the now-defunct crypto lender, is scheduled for trial in September 2024 regarding Celsius’ collapse.

However, his legal team has recently faced scrutiny for a potential conflict of interest, as it also represents Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX.

On Feb. 6, U.S. Prosecutors raised concerns about lawyers Marc Mukasey and Torrey Young, who have both filed notice of appearances in the criminal cases against the former crypto CEOs.

Cointelegraph recently reported that the U.S. government called for a Curcio hearing, in which the judge may ask questions about a potential conflict of interest and why both lawyers were involved in Bankman-Fried and Mashinsky’s cases.

Read the latest crypto news today

Solana-Based Exchange Surpasses £300 Million Milestone in 24 Hours on Solana Blockchain

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The Backpack cryptocurrency exchange, built on Solana, swiftly attained the £300 million milestone within a mere 24 hours of commencing its pre-season beta launch, as stated in a Feb. 15 post by Backpack.

The exchange was initiated by the minds behind Solana’s Mad Lads executable nonfungible token (NFT) collection.

The exchange’s surge in popularity is attributed in part to the outstanding success of the Mad Lads xNFT collection within the Backpack ecosystem and the promising potential of the underlying Solana blockchain, as highlighted by Anndy Lian, an intergovernmental blockchain expert and the author of the book NFT: From Zero to Hero. Lian conveyed to Cointelegraph:

“Backpack Exchange leverages the Solana blockchain, one of the fastest and most scalable platforms for decentralized applications […] Solana is also seen as a potential contender for the future of decentralized finance, or DeFi, which is a fast-growing sector of the crypto industry.”

Within 24 hours of its pre-season launch, Backpack recorded 6,000 unique deposit transactions, as per a Feb. 13 post by Armani Ferrante, the founder and CEO of Backpack.

The recently unveiled exchange showcases impressive trading statistics, including one-millisecond order placement and sub-one millisecond order cancellation, as confirmed by Ferrante.

READ MORE: BONK Memecoin Surges 7% Amidst Revolut Partnership Rumors

Backpack’s SOL/USDC spot trading pair amassed over £643 million in 24-hour trading volume, surpassing the trading pair of the world’s largest exchange, Binance, which accrued £2.4 million in 24-hour trading volume.

In October 2023, Backpack Exchange acquired a virtual asset service provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).

Moreover, the exchange secured various other operational licenses across numerous jurisdictions worldwide in the latter half of 2023.

Following Backpack’s triumph, the 24-hour trading volume of Mad Lads NFTs escalated by 77.93% to surpass £1 million, positioning it as the third-largest collection by daily trading volume across all blockchain networks.

Solana witnessed a 20.19% surge in sales volume to £7.35 million, ranking as the second-largest blockchain by daily NFT sales volume after Ethereum, which amassed £18.28 million in 24-hour NFT sales volume, according to NFT data aggregator CryptoSlam.

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Coin Metrics Research: Nation-States Unable to Destroy Bitcoin and Ethereum Networks

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According to the latest research from crypto intelligence firm Coin Metrics, it is no longer feasible for nation-states to dismantle the Bitcoin and Ethereum networks via 51% attacks due to the exorbitant costs involved.

A 51% attack occurs when a malicious actor possesses over 51% of the mining hash rate in a proof-of-work system or 51% of staked crypto in a proof-of-stake network.

This power could be abused to manipulate the blockchain, compromising trust.

In a report released on February 15, Coin Metrics researchers Lucas Nuzzi, Kyle Waters, and Matias Andrade contended that nation-state attackers can no longer sustain such assaults due to the prevailing cost of capital and operational expenses needed to attain 51% control.

The researchers introduced a metric named “Total Cost to Attack” (TCA) to precisely gauge the expense of launching an attack on a blockchain network.

Utilising TCA, the report concluded that there are no financially rewarding avenues to attack either the Bitcoin or Ethereum networks, negating the financial incentive for malicious actors.

“In none of the hypothesized attacks presented here [would the attacker] be able to profit by attacking Bitcoin or Ethereum,” read the report.

READ MORE: Bitcoin Price Prediction 2024 and 2025

“Consider that even in the most profitable double spend scenario presented, where the attacker could potentially make $1B after spending $40B, that would account for a 2.5% rate of return.”

Analysing secondary market data and real-time hash rate output, the report revealed that a 51% attack on Bitcoin would necessitate an actor to procure a staggering 7 million ASIC mining rigs, costing approximately $20 billion.

Acknowledging the scarcity of available ASIC rigs, the report explored an alternative attack vector, which might be pursued by a particularly “relentless” actor.

Assuming a nation-state attacker could fabricate their own mining rigs—identifying the Bitmain AntMiner S9 as the only “plausible” device for reverse-engineering—it would still exceed a $20 billion investment.

Furthermore, the report debunked concerns over a potential 34% staking attack from Lido validators on Ethereum, suggesting it would be both time-consuming and financially prohibitive.

Castle Island Ventures partner Nic Carter commended Coin Metric’s research as “enormously important,” highlighting its rigorous empirical analysis as a significant contribution to the literature.

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Crypto Marketing and Media Relations – Is PR Distribution Effective?

Crypto marketing and media relations are pivotal elements in the blockchain and cryptocurrency industry, shaping public perception and driving adoption. As a novel and rapidly evolving sector, the role of effective marketing and strategic media relations cannot be overstated.

Importance

Crypto marketing and media relations are crucial for several reasons. First, they help in building awareness and educating the public about cryptocurrencies and blockchain technology. Given the complexity and novelty of these topics, clear and accessible information is essential for fostering understanding and trust among potential users. Second, effective marketing and media strategies can differentiate a project within the crowded and competitive crypto space, attracting investors, users, and partnerships. Finally, positive media coverage and strategic marketing efforts can bolster the legitimacy and acceptance of cryptocurrencies, encouraging wider adoption.

Strategies Employed

The strategies used in crypto marketing and media relations are diverse and innovative, reflecting the industry’s digital and decentralized nature. Social media marketing, through platforms like Twitter, Reddit, and Telegram, plays a significant role. These platforms facilitate direct engagement with the community, real-time updates, and viral marketing campaigns. Influencer marketing is another strategy, where projects collaborate with influential figures within the crypto space to gain visibility and credibility.

Content marketing, including blogs, whitepapers, and video content, is used to educate the audience about the technology, use cases, and benefits of a project. Additionally, search engine optimization (SEO) ensures that this content reaches its intended audience. Public relations (PR) efforts, including crypto PRs and interviews with reputable crypto and financial publications, further extend the reach and enhance the credibility of projects.

Challenges Faced

Despite the opportunities, crypto marketing and media relations face several challenges. The regulatory landscape is a significant hurdle, with varying and sometimes unclear regulations regarding crypto advertising and promotion across different jurisdictions. This complexity can hinder marketing efforts and expose projects to legal risks.

Misinformation and scams are prevalent in the crypto space, leading to skepticism among the public and media. Overcoming this skepticism requires consistent and transparent communication, which can be resource-intensive. Additionally, the fast-paced nature of the crypto market means that marketing and media strategies must be agile and adaptable to remain effective.

Future Outlook

Looking forward, the importance of crypto marketing and media relations is only set to increase as the industry matures. As regulatory frameworks around the world become more defined, there will be clearer guidelines for marketing and promotional activities, potentially opening new avenues for reaching wider audiences.

Technological advancements, such as the integration of artificial intelligence in personalized marketing and the use of blockchain for transparent and verifiable marketing analytics, could offer new tools for marketers. Moreover, as the industry continues to evolve, there will be a growing need for educational content and sophisticated marketing strategies to address the increasingly diverse audience of crypto users.

Crypto marketing and media relations are essential components of the blockchain and cryptocurrency ecosystem. Through innovative strategies and effective communication, they build awareness, educate the public, and foster adoption. Despite the challenges, the future offers promising opportunities for more sophisticated and impactful marketing efforts. As the industry continues to grow and evolve, the role of marketing and media relations will undoubtedly expand, playing a key role in shaping the trajectory of cryptocurrencies and blockchain technology.

Crypto CEX vs DEX – Everything You Should Know

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In the ever-evolving landscape of cryptocurrency, two main types of exchanges have emerged as the primary platforms for trading digital assets: centralized exchanges (CEXs) and decentralized exchanges (DEXs). Both serve the fundamental purpose of facilitating the buying and selling of cryptocurrencies, but they operate on vastly different principles and infrastructures.

These exchanges are essential to the buying and selling of crypto coins and tokens, such as Bitcoin.

Centralized Exchanges (CEXs)

Centralized exchanges are platforms that act as intermediaries between buyers and sellers, much like traditional stock exchanges. These platforms are operated by specific companies or organizations that maintain full control over the exchange operations. Some of the most well-known centralized exchanges include Coinbase, Binance, and Kraken.

Advantages of CEXs

  1. User-Friendly Interfaces: CEXs often provide more user-friendly interfaces, making it easier for newcomers to navigate the complexities of cryptocurrency trading.
  2. High Liquidity: Due to their centralized nature, these exchanges can offer higher liquidity, facilitating quicker trades and better prices for users.
  3. Fiat-to-Crypto Transactions: Many centralized exchanges allow users to buy cryptocurrencies directly with fiat currencies, providing a critical entry point for new users into the crypto ecosystem.
  4. Customer Support: CEXs usually offer customer support services to assist users with any issues, adding an extra layer of user assurance.

Disadvantages of CEXs

  1. Security Risks: Centralized platforms can be prime targets for hackers, as they hold a significant amount of user funds and data.
  2. Regulatory Oversight: Being centralized entities, these exchanges are subject to regulatory scrutiny, which can lead to sudden changes in operations or even shutdowns.
  3. Limited Anonymity: CEXs often require users to undergo KYC (Know Your Customer) procedures, which can deter users seeking anonymity.

Decentralized Exchanges (DEXs)

Decentralized exchanges operate without a central authority, facilitating direct peer-to-peer transactions on a blockchain. DEXs are built on the principle of eliminating intermediaries, thereby promoting a more open and unrestricted environment for trading. Examples of decentralized exchanges include Uniswap, Sushiswap, and PancakeSwap.

Advantages of DEXs

  1. Enhanced Security: Without a central point of failure, DEXs are less susceptible to large-scale hacks that plague centralized platforms.
  2. Anonymity: Users can trade directly from their wallets without needing to provide personal information, thus preserving their privacy.
  3. Censorship Resistance: DEXs operate on a global scale without central oversight, making them resistant to censorship and regulatory interference.

Disadvantages of DEXs

  1. Complex User Experience: The lack of a centralized entity means users must navigate more complex interfaces and manage their own security, such as private keys.
  2. Lower Liquidity: DEXs typically have lower liquidity than their centralized counterparts, which can lead to higher slippage and less favorable trade prices.
  3. Limited Features: Compared to CEXs, DEXs often offer fewer features, such as advanced trading tools and customer support.

Security Aspects

Security is a paramount concern in the world of cryptocurrency trading. Centralized exchanges, despite their efforts to bolster security through measures like cold storage and two-factor authentication, have suffered from significant breaches. Decentralized exchanges, by design, mitigate some of these risks by allowing users to retain control of their private keys. However, they are not entirely immune to risks, such as smart contract vulnerabilities.

User Experience

The user experience between CEXs,, like Binance or Coinbase, and DEXs can differ greatly. Centralized exchanges offer a more curated experience, with user-friendly platforms, customer support, and additional services like staking and lending. Decentralized exchanges prioritize autonomy and privacy but require a higher level of technical knowledge from their users.

Impact on the Cryptocurrency Market

Both CEXs and DEXs play critical roles in the cryptocurrency market. Centralized exchanges have been instrumental in introducing and providing access to cryptocurrencies for a broader audience. They have facilitated the growth of the crypto market by providing liquidity, fiat gateways, and a sense of security for new entrants. On the other hand, decentralized exchanges embody the decentralized ethos of cryptocurrency, offering alternatives that prioritize security, privacy, and resistance to censorship. DEXs have also spurred innovation in the space, particularly in the realm of DeFi (Decentralized Finance), pushing the boundaries of what is possible within decentralized ecosystems.

Summary

The choice between centralized and decentralized exchanges depends on individual preferences, trading needs, and priorities such as security, privacy, ease of use, and access to specific cryptocurrencies. Centralized exchanges offer a more straightforward entry point for newcomers, with higher liquidity and customer support, but at the cost of privacy and central point of failure risks. Decentralized exchanges, while catering to users seeking privacy and control over their funds, come with their own set of challenges, including lower liquidity and a steeper learning curve.

As the cryptocurrency market continues to mature, we may see further innovations and improvements in both CEXs and DEXs, potentially leading to hybrid models that combine the best aspects of both worlds. The ongoing development of these platforms will play a crucial role in shaping the future of cryptocurrency trading and the broader adoption of blockchain technology.

Genesis Granted Approval to Liquidate £1.3 Billion in Grayscale Bitcoin Trust Shares

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A bankruptcy adjudicator has granted Genesis Global Holdco permission to liquidate approximately £1.3 billion worth of Grayscale Bitcoin Trust (GBTC) shares as part of endeavours to reimburse investors.

During a hearing on 14th February at the United States District Court for the Southern District of New York, conducted via Zoom, Judge Sean Lane endorsed an order allowing Genesis to divest a portion of its investments from Grayscale.

Documents filed in February indicated that Genesis held about £1.6 billion worth of shares in GBTC, Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG).

According to Genesis’s bankruptcy filings, it claimed to possess around 35 million GBTC shares and 11 million ETHE and ETCG shares.

Grayscale lodged a restricted objection to the proposal for the company to liquidate the trust assets on 9th February, asserting that the sales were “subject to written approval” by the investment firm but did not aim to “delay, impede, or obstruct the Debtors’ sale or transfer of Trust Assets.”

READ MORE: SOL Token Surges, Overtakes BNB to Claim Fourth Spot in Cryptocurrency Rankings

On 10th January, the U.S. Securities and Exchange Commission (SEC) sanctioned the conversion of Grayscale’s GBTC to a spot Bitcoin exchange-traded fund for listing and trading on U.S. exchanges, alongside offerings from 10 other asset managers.

Genesis remarked that the SEC’s approval would ease the redemption of shares in cash.

Genesis disclosed a £21 million settlement with the SEC on 31st January over its purported involvement in offering and vending unregistered securities through the Gemini Earn program.

The company operates independently from Genesis Global Trading, which encountered enforcement proceedings initiated by the New York Department of Financial Services in January.

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Uniswap Foundation Announces Launch Date for Protocol’s v4 Following Ethereum’s Dencun Upgrade

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The Uniswap Foundation, backers of the decentralised finance (DeFi) protocol Uniswap, have revealed the launch date for the protocol’s v4 subsequent to the forthcoming Dencun upgrade on Ethereum.

In a statement on X, the foundation shared a roadmap outlining its intentions for the forthcoming rollout.

The organisation emphasised that it is presently in the “Code Freeze” phase, where it is finalising core code, conducting testing, optimising gas, enhancing security, and completing peripheral tasks.

The launch of Uniswap v4 is provisionally scheduled for Q3 2024.

Following this, the Uniswap Foundation team will engage audit firms and hold a community audit contest to review v4’s code.

The team is confident that Uniswap v4 will feature the “most rigorously audited code ever deployed on Ethereum.” Concurrently, the decentralised exchange will be deployed to the testnet as final adjustments are made.

As per the Uniswap Foundation, the third phase will see Uniswap v4 go live on the Ethereum mainnet in the third quarter of 2024.

READ MORE: Ledger and Coinbase Join Forces to Simplify Crypto Transactions and Enhance Self-Custody Options

The organisation noted that this is a tentative date, contingent upon the status of the impending Dencun upgrade on Ethereum.

As previously reported by Cointelegraph, the Ethereum network’s Dencun upgrade was activated on the Goerli testnet on Jan. 17.

The upgrade introduces various Ethereum Improvement Proposals (EIPs), including EIP-4844, which enables proto-danksharding, a feature aimed at reducing layer2 transaction fees.

The Goerli deployment for the Dencun upgrade experienced a four-hour delay. Nonetheless, the upgrade’s deployment on the Sepolia testnet — the second of three Ethereum testnets — was completed without incident on Jan. 31.

Subsequent to the second testnet, the Dencun upgrade concluded the third phase of testing following its deployment to the Holesky testnet on Feb. 7.

On Feb. 8, Ethereum developer Tim Beiko announced that the upgrade is scheduled for the mainnet at “slot 8626176.” Blockchain research firm Nethermind noted that this will occur on March 13, 2024, at 1:55:35 pm UTC.

The date was established by Ethereum developers in a call on Feb. 8, subsequent to the successful deployment to the Holesky testnet.

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Coinbase Shares Surge 37% Amidst Bitcoin Rally and Analyst Optimism Ahead of Q4 Report

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Shares in cryptocurrency exchange Coinbase have surged by 37% in the past week, riding the wave of a recent upswing in Bitcoin prices.

Analysts anticipate robust performance as the company prepares to unveil its fourth-quarter results on Thursday.

MarketWatch and FactSet’s aggregated data reveals a consensus among analysts, foreseeing a substantial revenue increase for Coinbase in Q4.

Projections suggest a rise of approximately 22% from Q3, reaching $825 million.

The surge in revenue is expected to be fuelled by heightened trading volumes.

Analysts estimate a near doubling from $76 billion in Q3 to $142.7 billion in Q4.

Coinbase is also expected to report a fourth-quarter earnings-per-share of $0.02, marking a turnaround from the $0.01 loss per share reported in the preceding quarter.

This surge coincides with Bitcoin’s price rise of 16.3% over the past week, as reported by Coinmarketcap.

On February 13, competitor Robinhood announced a 24% year-on-year increase in Q4 revenue, driven in part by a surge in cryptocurrency trading revenue, which amounted to $43 million, up 10% year-on-year.

READ MORE: SOL Token Surges, Overtakes BNB to Claim Fourth Spot in Cryptocurrency Rankings

Despite these positive indicators, some remain cautious about Coinbase’s future performance in 2024.

JPMorgan analysts, in a note to investors on January 22, predicted a decline in Coinbase’s share price, citing concerns about the lacklustre performance of spot Bitcoin ETFs trading.

However, recent data indicates an uptick in Bitcoin ETF flows, with BlackRock’s IBIT alone generating $493 million in inflows on February 13.

Coinbase, serving as custodian for eight of the top 10 spot Bitcoin ETF providers, including BlackRock and iShares, stands to benefit from this resurgence.

The ongoing lawsuit with the United States Securities and Exchange Commission (SEC) poses another challenge for Coinbase.

Nevertheless, crypto lawyer James Murphy, also known as “MetaLawMan,” remains optimistic about Coinbase’s prospects, expressing confidence that the SEC will lose the case.

Coinbase shares are currently up 14% for the day, buoyed by a broader rally in the cryptocurrency sector, highlighted by Bitcoin’s surge above $50,000 on February 13.

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Kadena SpireKey Integrates with WebAuthn to Provide Seamless Web3 Interactions

New York City, New York, February 16th, 2024, Chainwire

Introducing Kadena SpireKey, a human-friendly and secure way to seamlessly interact with any application by removing complex signing processes.

Kadena Spirekey

“Unlike complex Web3 wallets today where you have to remember every wallet you’ve ever created, Kadena’s SpireKey uses WebAuthn, a technology that has been developed by Google and Apple over the last 20 years, to help anyone securely digital assets directly on your phone or computer. It’s as easy as receiving a prompt on your mobile device and providing a fingerprint as a signature. Even that uncle who asks you about crypto every family holiday dinner can do it. With Kadena, we’ve made using applications accessible to everyone, no matter if you’re an experienced “degen” or using blockchain for the first time,” said Kadena CMO, Mike Herron. 

SpireKey creates a seamless interaction between humans and technology, providing a Web2 experience with Web3 innovation. With SpireKey, users can sign transactions and Web3 applications, just like how it works on Apple Pay or Google Pay. However, it can be done directly on the user’s device without opening multiple windows or copying and pasting keypairs, which eliminates potential vulnerabilities seen in traditional wallets.

Added Security with Built-in Multi-sig

“Kadena’s built-in multi-sig signing enables an additional layer of security for SpireKey that only we can provide through our original language, Pact. With multi-sig, SpireKey allows for multiple signatures to be required for certain transaction types. For example, if you want to send over $10,000, you can set up parameters to require signatures from three different devices – your phone, laptop, and cold storage wallet. The multi-sig feature reduces the risk of compromised accounts because a bad actor would need access to three devices. It mitigates the risk of another attack vector, and adds to the overall security,” said Stuart Popejoy, Kadena Co-Founder and CEO.   

SpireKey displays how Kadena thinks about the level of usability that Web3 technology should be at. At its core, SpireKey connects humans to interact with the blockchain, and with one another. SpireKey believes that showing working examples will inspire all humans alike to see how Spirekey can impact the rest of the world beyond Web3.

About Kadena 

Kadena is a blockchain technology protocol that was founded in 2017 by Stuart Popejoy and Will Martino. Kadena is the industry’s only scalable Layer-1 Proof of Work (PoW) blockchain. This scalability enables Kadena to deliver infrastructure-grade performance for any blockchain project. Along with Kadena own smart contract language Pact, Kadena’s platform provides the world with the tools and environment to turn ideas and ambitions into reality. Founded by Stuart Popejoy and William Martino, who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee, Kadena aims to allow for true blockchain mass adoption.

For more information, users can follow Kadena’s: Twitter | Telegram | Discord | YouTube

Contact

Kadena Press
press@kadena.io

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