Web3 🌒 Saturday Highlight: Decentralization, AI Art, and The Future of Bitcoin
1/ 🔒 Solana Client Jito Ends Mempool Function.
2/ 💵 Zora: Earn with AI!
3/ 🤔 JPMorgan: $62 Billion Bitcoin ETF Market in 3 Years.
4/ 📑 4% of Bitcoin Controlled by New ETFs and Grayscale.
For further more details, let's keep reading! 👇
Today's crypto news dives into several hot topics! We look at a surprising move by a Solana client developer, a new way for creators to profit on NFTs, a cautious prediction for Bitcoin ETF growth, and concerns about Bitcoin's future decentralization.
Stay informed and stay ahead of the curve!
1/ 🔒 Solana Client Jito Ends Mempool Function.
In an unexpected move, the developer of a popular alternative Solana client called Jito has stopped using mempools. Mempools are essentially waiting areas for transactions before they are officially added to the blockchain.
This decision comes after Jito lifted a ban on a practice known as "front-running" which is similar to "sandwich attacks." These attacks take advantage of the mempool to steal funds from unsuspecting traders. Jito has faced criticism for allowing these attacks, and this latest move seems to be a response to that pressure.
Danny Nelson
2/ 💵 Zora: Earn with AI!
Zora, an NFT platform, is introducing a new way for creators to profit: selling AI-generated art as NFTs. NFTs (non-fungible tokens) are a type of cryptocurrency that verifies ownership of digital items. Zora sees AI and cryptocurrency as complementary technologies with the potential to mutually benefit each other. Zora's vision for the future involves using blockchains to validate ownership of AI-generated art.
Jacquelyn Melinek
3/ 🤔 JPMorgan: $62 Billion Bitcoin ETF Market in 3 Years.
JPMorgan is taking a cautious approach to the future of Bitcoin Spot ETFs, predicting a market size of $62 billion in the next two to three years. This is a lower prediction than what other analysts foresee, and JPMorgan attributes this to investors' potential disregard for the high risk associated with Bitcoin.
Andrew Throuvalas
4/ 📑 4% of Bitcoin Controlled by New ETFs and Grayscale.
The emergence of new Bitcoin ETFs, coupled with Grayscale's holdings, is raising concerns about the future control of Bitcoin. These new ETFs are gaining popularity, and together with Grayscale, they hold a considerable amount of Bitcoin. This concentration of ownership has led some to question whether Bitcoin will remain decentralized in the long run.
Jamie Redman
Conclusion: While Jito's move away from mempools aims to combat exploitative practices, the rise of AI-powered NFTs on Zora showcases the creative potential of the space. However, JPMorgan's cautious outlook on Bitcoin Spot ETFs and the growing control of Bitcoin by large institutions raise questions about the future of decentralization in the cryptocurrency landscape.
Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.
