Good Afternoon Dinar Recaps,

Cardano Launches Node 9.1.0: The Dawn of the Chang Hard Fork Era

▪️ Cardano’s Node 9.1.0 launch is pivotal for the Chang Hard Fork, marking significant progress in on-chain decision-making.

▪️ While ADA’s price hasn’t surged yet, the upgrade holds potential for a future rally similar to the Alonzo Hard Fork.

Following the innovative launch of Cardano Ogmios v6.4.0, we reported last month, Cardano has launched Node 9.1.0, which is crucial for the upcoming Chang Hard Fork upgrade. This node introduces the final version needed to implement on-chain decision-making within the Cardano ecosystem. The Dawn of the Chang Hard Fork Era is equipped with a crucial feature, the Conway genesis file, which differentiates it from the previous Node 9.0.0.

This launch was announced by Intersect on X and confirmed by Cardano founder Charles Hoskinson on his personal X account. The Chang Hard Fork upgrade, initially scheduled for the first half of 2024, is expected to significantly advance Cardano’s infrastructure and capabilities.

From Intersect on Twitter
Node 9.1.0 is here!

The final version to bring on-chain decision making to Cardano is here. As with all hard-forks, Cardano upgrades when the community is ready.

SPO's ➡️ https://bit.ly/3ycXnVF

However, unlike the previous update, as discussed in the CNF earlier report, which drove ADA price up 10% as 159 projects launched on Cardano, accompanied by 9.62M native tokens and 84.2M transactions, this upgrade is still taking its time to hit the expected surge.

Previous upgrades like the Alonzo Hard Fork in 2021 had a substantial positive impact on ADA’s price, suggesting potential similar outcomes with the Chang Hard Fork.

The upgrade could potentially lead to a price rally, as it is expected to break the upper boundary of the wedge pattern. As of now, according to CoinMarketCap data today, Cardano (ADA) is trading at $0.3966, with a decrease of 2.47% in the past day and 5.75% in the past week. See ADA price chart below.

However, unlike the previous update, as discussed in the CNF earlier report, which drove ADA price up 10% as 159 projects launched on Cardano, accompanied by 9.62M native tokens and 84.2M transactions, this upgrade is still taking its time to hit the expected surge. 

Previous upgrades like the Alonzo Hard Fork in 2021 had a substantial positive impact on ADA’s price, suggesting potential similar outcomes with the Chang Hard Fork.

The upgrade could potentially lead to a price rally, as it is expected to break the upper boundary of the wedge pattern. As of now, according to CoinMarketCap data today, Cardano (ADA) is trading at $0.3966, with a decrease of 2.47% in the past day and 5.75% in the past week.  

UPDATE:  Cardano is trading at $0.4232 today.

@ Newshounds News™

Read more:  Crypto News Flash

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Copper will be the investment of the decade? Kitco Live ‘Copper Masters Panel’ on August 22, 2024

(Kitco News) - Copper presents a generational investment opportunity. A looming supply crunch fueled by high demand required for the energy transition is elevating prices to record highs with a positive outlook for investors.

The copper market is expected to enter into deficit in the near-term, which is forecast to increase to 5-8Mtpa by the end of the decade as new demand gathers pace. Eergy transition applications and the power infrastructure required for the electrification of everything, data centers, and emerging markets such as India are all factors vying for dwindling copper supplies.

The positive market outlook has not garnered a corresponding supply response as few development projects are in the pipeline, and miners are risk-averse due to the increasing economic uncertainty, costs, and timescales of project development.

Hosted by Paul Harris, the ‘Kitco Copper Masters Panel’ will hear from industry leaders Robert Friedland, Kathleen Quirk, and Colin Hamilton discussing why copper may be the natural resources investment of the decade. 

Join us live on Kitco Mining’s YouTube channel on Thursday, August 22, 2024, at 3PM ET / 12PM PST for the latest copper investment insights from these copper masters.

@ Newshounds News™

Read more:  Kitco 

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Chinese Firm Boasts of Using Tether Stablecoin to Skirt Russian Sanctions

Chinese-owned import-export firm Qifa specializes in trade between China and Russia, a booming sector. According to Reuters, the company is now using the Tether stablecoin for cross-border payments because of sanctions affecting bank payments.

It’s possible that Qifa spoke to Reuters to boost the price of its IPO on the Moscow Exchange. However, that benefit could prove short lived. Several Russian companies featured in recent press reports have been the subject of sanctions shortly afterwards.

For instance, Reuters reported in April that the Shanghai branch of Russian bank VTB played a key role in facilitating money transfers between Russia and China. In the latest package of sanctions announced on 12 June, OFAC added VTB Shanghai to its sanction list. Within a week this caused problems with money reaching Chinese suppliers.

The reason for using VTB Shanghai is the threat of sanctions on Chinese banks. Hence, any Chinese banks willing to receive payments are smaller ones, and they conduct significant due diligence to ensure that any goods are not dual use for military purposes.

Meanwhile, the use of Tether as a settlement asset may be illegal in both countries. Reuters classed Tether as a Digital Financial Asset. That’s not the case.

Digital Financial Assets
Digital Financial Assets (DFAs) are a specific class of Russian digital assets, including tokenized gold, other commodities and factored invoices. 

There’s a short list of firms that operate platforms approved to issue DFA tokens, and most of them have been sanctioned. Not only does Tether not run an approved DFA issuing platform, but stablecoins are not approved DFA assets.

Originally Russian legislation banned the use of DFAs for payment, but it recently passed a new law allowing them to be used for cross-border payments, precisely to skirt sanctions. Less than two weeks later more DFA issuers were sanctioned alongside some Russian cryptocurrency firms.

That means only those comfortable dealing with sanctioned entities would accept them. There are also practical hurdles we have previously explored.

Tether would be classed as a cryptocurrency rather than a DFA.

Russia is working on legislation to support the use of cryptocurrencies for cross-border payments. Even the central bank governor has agreed it’s a practical move, despite her misgivings about crypto. As of today, using Tether may not be legal in Russia, but the Russians would most likely turn a blind eye.

It’s far less clear that’s the case in China where the use of stablecoins such as Tether is not permitted.

@ Newshounds News™

Read More:  Ledger Insights  

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BLOCKCHAIN and DIGITAL ASSET NEWS  from Ledger Insights

▪️ LUXEMBOURG proposes relaxing DLT laws LINK 

▪️ BNP Paribas hosts issuance of SLOVENIAs digital bond settled in CBDC LINK 

▪️ JP Morgan-backed Ownera partners with Digital Asset’s Canton network LINK 

▪️ Franklin Templeton planning digital-asset joint venture with JAPANs SBI LINK 

@ Newshounds News™

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