U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Shiba Eternity to be showcased in world’s largest gaming event
According to SHIB BPP, a SHIB enthusiast’s Twitter account, Shiba Eternity Game will be showcased at Gamescom. The event is known as one of the world’s largest gaming events held annually in Cologne, Germany, where publishers and companies introduce new software and hardware to industry and private visitors. Among its numerous guests, Gamescom will welcome William Volk, Shiba Inu Games’ lead consultant. He confirmed his attendance at the global video game fair, stating specifically that he was attending in order to showcase Shiba Eternity.
XRP has one of the best looking charts in crypto, here’s why
As reported by Santiment in a recent article, XRP is one of the better-looking NVT charts on the entire crypto market, given the increase in network circulation in May and a subsequent correction in June. As the NVT suggests, XRP is currently bullish, as its price dropped to multi-week lows at $0.33, making XRP’s market capitalization significantly lower despite remaining transactional activity. With the high activity of XRP users and low market capitalization occurs a divergence, which is a sign of a possible reversal that might happen once the correction on the market is over. At the moment of publication, XRP is trading at $0.34, up 0.8% over the past 24 hours.
Cardano outperforms PayPal and Netflix with lower energy consumption
In a thread of tweets, Cardano Daily Twitter account shared that in terms of energy consumption, Cardano might be more efficient than Paypal, YouTube and Netflix. Charles Hoskinson’s brainchild is also less energy intensive than gold mining or Bitcoin proof of work (PoW), with its estimated yearly consumption of 0.0027 TWh, or 2.7 GWh. According to Cardano explorer data, Cardano runs on 3,198 pools, which puts its estimated yearly consumption at 3.103 GWh, or 0.0031 TWh. On the other hand, the estimated Bitcoin yearly consumption is given at 214,944 GWh, or 214.944 TWh. This makes Cardano 69,270x more energy efficient than Bitcoin.
Dogecoin-Ethereum bridge expected to go live in 2022
According to Blue Pepper, the Dogecoin-Ethereum bridge is expected to go live in 2022. The bridge will give users the opportunity to transfer DOGE to the Ethereum blockchain and vice versa. The meme coin will be used in smart contracts, decentralized finance protocols and non-fungible token marketplaces. The Dogecoin Foundation, Blue Pepper, MyDoge and BitGo will be genesis members of the decentralized autonomous organization (DAO) that will be responsible for governing the protocol. As reported by U.Today, Dogecoin co-founder Billy Markus claims that the creation of the bridge will help the meme cryptocurrency.