Crptocurrency
The Future of Digital Currency
In the realm of crafting written content, three fundamental elements take center stage: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, measuring how intricate or enigmatic it is. Burstiness, on the other hand, assesses the fluctuations in sentence structures – the coexistence of elaborate, lengthy sentences with brief, concise ones. Finally, predictability examines the likelihood of predicting the subsequent sentence, striving for a low predictability factor to keep the reader engaged. It’s imperative to note that the text must be composed exclusively in English.
Now, let’s rephrase the following text with an emphasis on injecting a healthy dose of perplexity and burstiness while minimizing predictability:
Amidst the intricate world of crypto, a legal framework is emerging for crypto asset providers, including crypto exchanges. The 2024 Turkish Presidential Annual Program, unveiled on the 25th of October in the Official Gazette of the Republic of Turkey, sets its sights on crystallizing crypto regulations within the confines of the year 2024.
Delve into Article 400.5 of this colossal 500-page document, and you’ll unearth a meticulous blueprint outlining the impending categorization of crypto assets, possibly paving the way for future taxation. Notably, crypto exchanges, those enigmatic enclaves of digital wealth, are poised to receive an unambiguous legal identity. Alas, the document remains tight-lipped on the specifics of these impending regulations, shrouding them in mystery.
Fast forward to the annals of September 2023, where the former helmsman of the Turkish crypto colossus Thodex, Faruk Fatih Özer, finds himself facing a staggering sentence: an astonishing 11,196 years behind bars, as decreed by a Turkish court. Thodex, a towering titan of the nation’s trading platforms, met a sudden and dramatic demise in 2021, shrouded in uncertainty.
As we pivot to the year 2022, a fascinating study unveils Turkey’s insatiable appetite for all things crypto. In a global context, Turkey emerges as the second most fervent seeker of crypto-related knowledge, with a staggering 5.5% of its populace ardently pursuing this digital frontier. This surge in crypto curiosity coincided with the throes of a turbulent inflation crisis surrounding the local fiat currency, the Turkish lira, witnessing an elevenfold ascent in crypto utilization throughout 2021.
And in the bygones of December 2022, the Central Bank of the Republic of Turkey reached a significant milestone: the completion of the inaugural trial of its pioneering innovation, the central bank digital currency, the digital lira. The echoes of their digital endeavor resonate further as they unveil plans for rigorous testing throughout 2024. Yet, as the government treads this uncharted territory, the ultimate digital transformation of the nation’s currency remains a conundrum, even as Turkish President Recep Tayyip Erdoğan staunchly champions the digital lira project.
Crptocurrency
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Crptocurrency
Prom Announces Mainnet Launch Bringing Better Blockchain Scalability
Seoul, South Korea, November 21, 2024 – Prom, a scalable network based on Polygon SDK, today announced the launch of its mainnet, following an extensive testnet campaign that saw over 25,000,000 transactions and 2,000,000 unique wallets interacting with a chain. This milestone is a step forward in blockchain scalability, as Prom leverages zero-knowledge proof technology to deliver enhanced throughput, optimized transaction costs, and advanced security.
Prom’s solution addresses the most prevalent problems of modern networks by utilizing ZK-based architecture, which until now have not been widespread due to technical complexity. Its architecture ensures the needed speed, level of security, and seamless interaction with the chain, reducing friction for users and granting developers a flexible framework for building a diverse range of dApps.
“We’re thrilled to open a new chapter for Prom and streamline the expansion of our ecosystem by welcoming developers and users to interact with the chain,” said Iva Wisher, COO of Prom. “We’re committed to constant efficiency improvement, transmitting scalability and convenience of everyday on-chain actions, and we are looking forward to welcoming a wave of products built on our network.”
The Prom network was developed in collaboration with industry leaders such as Polygon, DWF Labs, Ankr, Goldsky, Automata, and Blockscout to ensure the highest standards of performance and security.
The native network token, $PROM, is powering the Prom network. Listed on Binance, HTX, KuCoin, Gate.io, Upbit, and AscendEx, $PROM is driving fast on-chain interactions, and serving as the governance token for the Prom DAO. Through this community-driven governance model, users are empowered to help shape the future of the Prom ecosystem while benefiting from a percentage of the total network fees.
The mainnet launch opens new doors for developers seeking a platform for building decentralized applications (dApps). With a grant-based support mechanism in place, developers can utilize Prom’s platform to be an ideal environment to easily build and deploy, unlocking greater product scalability and reducing the barriers to entry for development. For users, Prom’s technology ensures lower transaction fees, strong security, and enhanced decentralization.
About Prom
Established in 2019, Prom has rapidly grown with innovative products across GameFi, SocialFi, Influencer Marketing, DeFi, and more. Prom looks to address critical shortfalls in various markets, setting the standard for capturing a large share of the market, by introducing its own solution to effortlessly unite diverse product sectors.
Prom creates a competitive landscape for advancing blockchain adoption, enhancing network security, decentralization, and efficiency.
Media Contact
Max Kan
CMO
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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