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As of today, Bitcoin is an official currency of ElSalvador alongside the US dollar, after the Central American country became the first to adopt the cryptocurrency as legal tender. But there are fears that the adoption of such a historically volatile currency could harm Salvadorans, and risk economic stability.
ust look at the numbers: 80 million unique crypto wallets; Bitcoin and Ether grew 60% and 407%, respectively; ElSalvadoradopted bitcoin as official currency; the NFT market generated $2.5 Have we reached a point where crypto and blockchain reach mass adoption? Cryptocurrency and blockchain had a breakout year in 2021.
Other VCs in the round include TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures and Infinite Capital and DAO Jones (investment DAO backed by Mike Shinoda, Steve Aoki and Disclosure), while about 100 other crypto investors participated too. “We With the right resources, this region has potential for mass adoption of cryptocurrency.
Bitcoin has integrated with a layer-two protocol called the Lightning Network to increase its speed and efficiency while lowering transaction costs, a piece of infrastructure used by the nation of ElSalvador and major crypto exchanges such as Kraken. More than just an asset.
That country is ElSalvador, home to the native Pipil people of Cuscatln, ancient mangrove forests, and for four wild years, the crypto industry. Plans were hastily cobbled together for BitGo to become the official digital banking infrastructure for ElSalvador's 6.3 million residents.
. - Hal Finney For years, Bitcoin was almost a joke, with proponents seemingly waiting forever for it to become the peer-to-peer digital cash that Nakamoto envisioned. Some nation-states, such as ElSalvador , have even opted in. Bitcoin is no different: Things could go wrong, and they sometimes do. investment companies.
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