Cryptocurrency Exchange Platform Luno, Adds Two Digital Currencies Solana And Cardano To Its Portfolio – Investors King Ltd

Luno adds two new digital currencies Solana (SOL) and Cardano (ADA) to its portfolio
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Luno, a digital currency exchange facility that offers clients a technology platform to store and trade cryptocurrencies, has expanded its crypto offerings by adding two new digital currencies Solana (SOL) and Cardano (ADA) to its portfolio.
The company disclosed that following these new additions, users can now trade Cardano (ADA) on the Luno app and website, alongside its existing cryptocurrency offerings.
It further disclosed that Solana (SOL) will be made available on the platform from next month October to enable users trade the digital asset.
Cardano (ADA) is reportedly one of the biggest cryptocurrencies by market cap, which has been described as the third-generation blockchain following Bitcoin and Ethereum which are known as the first and second generation blockchain.
Also, Solana (SOL) has been described as one of the best-performing digital currencies in recent years, known to have one of the fastest blockchain in the world and the fastest growing ecosystem in crypto.
Speaking on the company’s latest addition of the two new digital assets to its platform, General Manager for Africa at Luno Marius Reitz said, “As big advocates of building for the long term, we believe it’s important to give customers access to newer crypto applications that have a promising future.
“Now, not only do customers have access to ADA and SOL, but they also have the peace of mind that comes with the rigorous security that customers rely on from Luno.
“In a world that can look complex, we want to break down the complications around cryptocurrencies to make it easy for people to buy, send, store, and learn about.
“Customers don’t need to make one large investment to get started but can build and grow their investment over time through smaller amounts – similar to how they make contributions to their pension for example.”
Reitz concluded by saying, while the two added digital assets Cardano and Solana meet Luno standards for safety, however, being listed on the platform is not an endorsement of its future potential as an investment, noting the fact that investors are always advised to conduct their research.

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Lekki Free Free Zone Development Company (LFZ) is collaborating with a California-based blockchain company, Gluwa to create a virtual free zone within the Lekki corridor. 
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Lekki Free Free Zone Development Company (LFZ) is collaborating with a California-based blockchain company, Gluwa to create a virtual free zone within the Lekki corridor. 
Both companies are looking for ways to explore blockchain technology for the use of trade collaboration, growth and sustainability among companies that operate within the Lekki Free Trade Zone.
LFZ head of innovation and special projects, Mr Tomiwa Idowu disclosed that the initiative will be a tripartite project between LFZ, Gluwa and the Nigeria Exporting Zone Processing Zones Authority. 
Tomiwa Idowu said that the partnership, when finalised, will create a dashboard for the tokenization of goods into non-fungible tokens (NFTs) and provide digital asset-backed loans for new and existing enterprises that are looking to fund operations and/or expand their businesses. He stated that the project will be similar to the integration of Opeansea and Compound. 
Non-fungible tokens often abbreviated as NFTs are unique digital assets which can be bought, sold or borrowed. 
Idowu further stated that he is overwhelmed with the partnership and looks forward to the possibilities and prospects it will bring to Lagos State. 
He went further to commend the Lagos State Governor, Babajide Sanwo-Olu as a beacon of progress and hope not only for Lagos State but the nation in general. 
“Our Governor has always been a firm believer in fast-paced development, which involves using technology to leap-frog bureaucracy and going straight to solving immediate problems”. He said.
Gluwa Chief Executive Officer (CEO), Tae Oh disclosed that he anticipates the partnership with the Lekki Free Trade Zone which is the most developed free zone in Nigeria. He noted that its proximity to Dangote Refinery and the Lekki Deep Sea makes the zone ideal for partnership. 
Incorporated in 2014, Gluwa is an open-source platform powered by blockchain technology to connect global capital to emerging market investment opportunities. Gluwa launched its stable coin in 2016 and has acquired more than one million borrowers. 

Ethereum, the world’s second most capitalised cryptocurrency by capital, has successfully transitioned from Proof of Work (PoW) to Proof of Stake (PoS).
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Ethereum, the world’s second most capitalised cryptocurrency by capital, has successfully transitioned from Proof of Work (PoW) to Proof of Stake (PoS).
The transition popularly known as “Ethereum Merge” is a historic accomplishment that will significantly reduce energy usage and also reduce gas fees attributed to the process of validation under Proof of Work.
Exactly at 7:59 this morning, Vitalik Buterin, the Co-Founder of Ethereum announced the success of the transition via his official Twitter handle.
He said “And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today”
Up until now, ETH, the token of Ethereum, was generated by Proof of Work which alternatively means “mining,”. It is an energy-intensive process by which individuals directed huge amounts of computer power at difficult-to-solve puzzles.
Additionally, generating Ethereum through Proof of Work is not just difficult but also consumes a lot of energy to power computers that race to solve complicated math equations to validate transactions.
With this transition, Ethereum will therefore be generated by individuals and entities pledging large amounts of pre-existing Ethereum. 
This means that Ethereum users will need to make a pretty hefty investment upfront to authenticate transactions. However, Proof of Stake is expected to be much less energy intensive.
Before now, Ethereum claimed its carbon emission is believed to be at par with Singapore and its total energy consumption is comparable to the Netherland. This has therefore earned Ethereum some criticism, especially from environmental activists. 
The merge is however expected to lower Ethereum’s carbon footprint by over 99%, which could make the platform more attractive to environmentally conscious investors.
Ethereum was conceived in 2013 and launched in 2015 by a programmer named Vitalik Buterin and a host of others which include Charles Hoskinson (Founder of Cardano Network), Anthony Di Lorio and Joseph Lubin. It has thereafter grown to become the second biggest cryptocurrency after Bitcoin. 

South Korean court has issued an arrest warrant to pick up Do Kwon, the co-founder of the now defunct stablecoin issuer Terraform Labs
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Following the collapse of the $40 billion Terra ecosystem, a South Korean court has issued an arrest warrant to pick up Do Kwon, the co-founder of the now defunct stablecoin issuer Terraform Labs
According to the financial crimes unit of the Supreme Prosecutors’ Office, the warrant included five additional individuals, Bloomberg said in a report that cited a text message from the prosecutor’s office.
The six of them were charged with violating the Capital Markets Act of South Korea, the report noted.
The warrant comes four months after the collapse of the $40 billion Terra ecosystem and its algorithmic stablecoin (UST), which was the first domino to fall in this year’s crypto winter.
The contagion that followed caused an industry-wide fallout, with crypto lender Celsius Network and crypto broker Voyager Digital filing for bankruptcy as the value of digital assets slumped by more than 50% from their highs.
Singapore-based hedge fund Three Arrows Capital was another firm that filed for bankruptcy after the extent of its exposure to the Terra network was exposed. The implosion of Three Arrows left a trail of troubled loans across the crypto industry, with billions being owed to creditors.
In his first public interview last month, Kwon had maintained that he is cooperating with authorities. Terra didn’t immediately respond to a request for comment.
Kwon also reiterated his commitment to the Terra ecosystem and its re-launched terra token (LUNA). The token has slumped by 16.7% over the past hour.





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