NFT News Official TheBitTimes.com

Since its launch on August 16, Shibarium, the layer 2 blockchain created by the developers of the Shiba Inu (SHIB) cryptocurrency ecosystem, has triggered massive interest, demonstrated both in the number of wallets and in regard to the number of transactions , which has recently made a new record. As it happens, Shibarium has just hit a new all-time high (ATH) as it surpassed a milestone of 3 million transactions (specifically 3,002,924 at the time of publication) carried out on its network as its user base continues to grow, according to the most recent data obtained by Finbold from the Shibariumscan explorer on September 21. Shibarium total transactions. Source: Shibariumscan explorer At the moment, the total number of crypto wallets on Shibarium stands at 1,250,064, which means it has been growing by roughly 34,724 new addresses each day, adding 3,398 new wallets since Finbold’s previous report from September 19. Following the launch in mid-August, Shibarium had a relaunch s...

Bitcoin transactions and fees are at high levels, and 400,000 of them are still unconfirmed on the blockchain. Increased fees and a backlog of transactions are besieging the Bitcoin (BTC) network and it’s due to a popular new “token” standard according to a CryptoQuant analyst . On May 9, Axel Adler Jr, an analyst with the crypto data firm, explained that BRC-20 memecoin minting on the BTC blockchain is causing the surge in block space demand, adding: “Unlike conventional token standards, such as Ethereum's ERC-20, BRC-20 does not utilize smart contracts and operates only with wallets supporting the Bitcoin blockchain.” According to CryptoQuant, the average fee per transaction skyrocketed, exceeding $16 and peaking at $29 on May 9. Bitcoin under siege from BRC-20 "junk" coins : record fees and thousands of unconfirmed transactions! "Unlike conventional token standards, such as Ethereum's ERC-20, BRC-20 does not utilize smart contracts and operates only with ...

The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC. Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11.  During a Dec. 14 Twitter Spaces hosted by decentralized finance (DeFi) researcher Chris Blec, Belshe confirmed the firm knocked back the redemption request because the unknown Alameda representative involved didn’t pass Bitgo’s security verification process and seemed unfamiliar with how the wrapped-Bitcoin burning process worked. Full convo here. This part starts at 1:09:30. https://t.co/0KQg6bzd8k — Chris Blec (@ChrisBlec) December 14, 2022 “[The security details] didn't match the process. So we held it up and we said no, no, no, no. This is not what the burn looks like. And we need to know who this person was.” “So we held it and while we were hol...