How much money is sent around the world using crypto?
Digital assets have a modest market share of overall cross-border payments — but demand is growing.
According to Juniper Research, international digital remittances are set to surge to $525 billion by 2024… a 102% rise from where they were in 2019. This figure includes fintech platforms that solely deal in flat.
“Utilizing a blockchain-powered network, operators can offer their users a much faster, cheaper and more transparent service,” the authors said.
This view has been echoed by BlockData, which recently revealed that blockchain-based transactions are typically 388 times faster and…
What factors contribute to transaction fee sizes?
The two main factors affecting fees are the size of a transaction, and demand for block space.
Given that some networks can only contain a limited amount of data in each block, miners or validators are restricted on the number of transactions they can include.
When there are many users sending crypto funds
simultaneously, demand for block space increases, and there are more transactions waiting for confirmation. Sometimes, demand for block space can get so high that
networks experience congestion, and fees surge to
Larger transactions require more space in the block and take longer to validate than smaller ones.
Courtesy- Blockchain News
The prospect of a bitcoin in a business environment is very sound. It paves way for several advantages in international payments which would otherwise be stuck in several bottlenecks. Before going any further, let us understand how cryptocurrencies transform the entire customer experience in the international payments industry.
Microsoft adopts Ethereum blockchain for gaming royalties
Enterprise Ethereum is beginning to show its impact as some of the largest companies in the world start to leverage the Ethereum network to solve complex business challenges.
For example, tech giant Microsoft and Big Four firm Ernst & Young announced the expansion of Microsoft’s blockchain-based solution to extend to gaming rights and royalties management.
Paul Brody, blockchain lead at EY, said that Microsoft’s blockchain solution for this particular use case is being conducted on a private Quorum network based on Ethereum.
Brody noted that this expansion will provide a financial system of…
Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows ⠀ The new credit card will offer Bitcoin rewards rather than airline miles or cash. ⠀ Visa and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency. ⠀ BlockFi, a New York-based startup specializing in crypto-backed loans and savings accounts, announced the partnership on Tuesday. ⠀ As Bloomberg reported, the new credit card will reward purchases with Bitcoin rather than airline miles or other cashback rewards. Cardholders will be eligible to…
🔗What are Post-Only Orders, Explained🔗
☑️A type of instruction that can be embedded into the logic of an order is the “post-only” option, which makes sure that an order is placed if and only if it cannot be immediately filled.
✔️If a buy (or sell) immediately matches an opposite sell (or buy), the orders are crossed, resulting in a trade.
✔️Many times, a trader actually does not want to place an order if it will be filled immediately by another resting order — the trader wants to avoid paying the taker fee when placing limit orders. …
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