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The U.S. Senate will begin its final vote on Milans nomination to the Federal Reserve Board in ten minutes.Integrated Circuits (Chips): 1. Nvidia is fully shifting its technological development focus to its next-generation product, the SOCAMM2. 2. Micron Technology has suspended NAND flash memory and DRAM pricing for a week, with the market predicting price increases. 3. Nvidia is considering being the first to adopt TSMCs most advanced process, the A16 process, which will enter mass production in the second half of next year. Others: 1. OpenAI released GPT-5-CODEX. 2. Version 2.0 of the "AI Security Governance Framework" has been released. 3. Lei Jun: The Xiaomi 17 series is a comprehensive competitor to the iPhone. 4. The US Secretary of Energy stated that nuclear fusion power generation could be possible within eight years. 5. Nvidia is requiring suppliers to develop MLCP technology, with a unit price 3-5 times that of existing cooling solutions. 6. Xiaomis Lu Weibing: R&D investment will increase to 200 billion RMB over the next five years. 7. Elon Musk: The Samsung factory in Texas will produce AI6 chips, not AI5 chips, and a decision on whether to use high-bandwidth memory (HBM) has not yet been made. Nuanwa Insight, an AI technology company in the insurance industry, has applied for an IPO in Hong Kong.1. All three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.11%, the S&P 500 up 0.47%, and the Nasdaq up 0.94%. Both the S&P 500 and Nasdaq reached new all-time highs. Amazon and Apple rose over 1%, leading the Dow. The Wind S7 Index rose 1.53%, with Google up over 4% and Tesla up over 3%. Most Chinese concept stocks rose, with Pony.ai rising nearly 11% and Li Auto up nearly 7%. 2. U.S. Treasury yields fell across the board, with the 2-year Treasury yield down 2.30 basis points to 3.526%, the 3-year Treasury yield down 3.32 basis points to 3.494%, the 5-year Treasury yield down 3.30 basis points to 3.600%, the 10-year Treasury yield down 3.64 basis points to 4.034%, and the 30-year Treasury yield down 2.80 basis points to 4.653%. 3. International precious metal futures generally closed higher, with COMEX gold futures up 0.90% at $3,719.50/oz and COMEX silver futures up 0.84% at $43.19/oz. US President Trumps pressure on the Federal Reserve to cut interest rates has sparked market concerns, and deteriorating US employment data has reinforced expectations of a rate cut. 4. International oil prices rose slightly, with the main US crude oil contract up 0.94% at $63.28/barrel; the main Brent crude oil contract rose 0.69% to $67.45/barrel. 5. Most base metals closed higher in London, with LME copper futures up 1.21% at $10,189/ton, a 15-month high; LME zinc futures up 0.85% at $2,982/ton; LME nickel futures up 0.22% at $15,425/ton; and LME aluminum futures up 0.56% at $2,704.5/ton.September 16th news, in the procedural vote held by the Senate on Monday, the senators cleared the procedural obstacles of Milans confirmation vote with a majority of 50 votes in favor and 44 votes against. The economic adviser of Trump is just one step away from joining the Federal Reserve as a governor. The final vote will be held later on Monday. If confirmed, Milan will be able to walk into the Federal Reserves office in Washington on Tuesday morning and participate in the Federal Open Market Committee (FOMC) interest rate policy meeting scheduled for Tuesday and Wednesday in time.

The Ultimate Beginner's Guide to Cryptocurrency

Drake Hampton

Mar 25, 2022 15:09

How Is Cryptocurrency Defined? 

A cryptocurrency is a digital or virtual currency that is protected by encryption, making counterfeiting or double spending practically impossible. Numerous cryptocurrencies are decentralized networks powered by blockchain technology—a distributed ledger maintained by a distributed network of computers. A distinguishing aspect of cryptocurrencies is that they are not issued by any central authority, which supposedly protects them against government influence or manipulation.


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Recognize Cryptocurrencies

Cryptocurrencies are digital or virtual currencies that rely on cryptographic technologies for their security. They enable safe internet transactions without using third-party brokers. The term "crypto" refers to the numerous encryption methods and cryptographic techniques used to protect these entries, including elliptical curve encryption, public-private key pairs, and hashing functions.

 

Cryptocurrencies can be generated through mining or acquired through cryptocurrency exchanges. Not all ecommerce cryptocurrencies accept cryptocurrency payments. Indeed, even popular cryptocurrencies such as Bitcoin are rarely utilized for retail transactions. Cryptocurrencies, on the other hand, have grown in popularity as trading tools as a result of their increasing value. They are also utilized for cross-border transfers to a limited degree.

Blockchain

Blockchain technology is critical to the attractiveness and operation of Bitcoin and other cryptocurrencies. As the term "blockchain" implies, it is simply a collection of linked blocks or an online ledger. Each block comprises a collection of transactions that have been confirmed separately by each network participant. Each new block created must be validated by each node before being confirmed, making forgery of transaction histories very difficult. The online ledger's contents must be agreed upon by the complete network of an individual node, or computer that keeps a copy of the ledger.

 

According to experts, blockchain technology has the potential to benefit a variety of businesses and procedures, including supply chain management and online voting and crowdfunding. Financial organizations such as JPMorgan Chase & Co. (JPM) are experimenting with the use of blockchain technology to reduce transaction costs through payment processing automation.

Cryptocurrency Types

Bitcoin is the most widely used and highly valued cryptocurrency. It was conceived and introduced to the public in 2008 by a mysterious individual named Satoshi Nakamoto via a white paper. Today, the market is flooded with thousands of cryptocurrencies.

 

Each cryptocurrency makes a claim to have a unique purpose and specification. For instance, Ethereum's ether sells itself as gas for the platform's smart contracts. Banks utilize Ripple's XRP to enable cross-border transfers.

 

Bitcoin, which became publicly available in 2009, continues to be the most extensively traded and reported cryptocurrency. As of November 2021, around 18.8 million bitcoins were in circulation, with a market capitalization of over $1.2 trillion. There will never be more than 21 million bitcoins.

 

Following Bitcoin's breakthrough, a slew of other cryptocurrencies, dubbed "altcoins," have been established. Some of them are Bitcoin clones or forks, while others are whole new currencies. There are several of them, including Solana, Litecoin, Ethereum, Cardano, and EOS. By November 2021, the aggregate value of all existing cryptocurrencies had surpassed $2.1 trillion—Bitcoin accounting for around 41% of that amount.