In this section, find each week the Analyzes and Crypto News not to be missed this week: The launch of Mars Hub!
The official account of Mars Project announced in a tweet on January 20 that MarsHub would be launched with 16 Genesis validators. Among them are Cosmology, Block Pane, Chorus One, CryptoCrew Validators, Chill Validation and ECO Stakes. There will be a total of 34 additional validator slots. This without authorization after the commissioning of the Mars Hub protocol.
We have learned from CoinTelegraph that the expected January 31 event is actually the final step in a process in Three parties. The first is the introduction of a private testnet for developers. Then, in the second phase, a public testnet was launched. At the beginning of February, the first Mars Hub outpost will appear on the Osmosis blockchain.
What about validators?
Genesis validators will be assigned 50 million MARS tokens. However, this will only be valid for beginners as they will be returned to the community pool after one month. From the Mars Hub Protocol tweet: “This temporary delegation will help protect the network from attacks by malicious validators who accumulate large Mars Hub delegations soon after they emerge and initiate on-chain transaction manipulation.”
Holders of Mars tokens during both historical snapshots of Terra Classic will receive a airdrop. So, once the hub is activated, you can request them. In total, 64.4 million tokens are dedicated to them. For blockchain, a snapshot is a file containing a record of the state at a given time. In fact, it contains very important information, such as transactions and addresses involved at that time.
Remember that the collapse of Terra Luna cost 60 billion dollars to the cryptocurrency market. So we can only admire the current recovery in which Mars Hub’s lending protocol has proven particularly resilient.
The Central African Republic opens up to cryptocurrencies
After El Salvador, the Central African Republic has become the second country to formalize the Bitcoin as official currency. And the African country is not going to stop there. The government is preparing new laws to encourage the use of cryptocurrencies in the country. In parallel, Nigeria is also involved in the development of the crypto industry in Africa.
The Central African Republic is the leading country in Africa in terms of cryptocurrency and blockchain. In 2022, the country introduced Bitcoin as legal tender. Despite the “warnings” of IMF, the country intends to further promote the development of crypto-currencies in its country.
Two days ago, on January 22, 2023, the Central African President Faustin Arkjan Touadella released a statement on Twitter. The Head of State notes that the Central African Republic has decided to “choose blockchain technology to give the country the means to become a player in the international financial sector”. Therefore he wants facilitate access to cryptocurrencies, remove them “ monetary barriers “and promote the development of the national economy.
The RCA hopes to “create a friendly business environment”. The government has just set up a commission “responsible for drafting legislation on the use and tokenization of cryptocurrencies in the Central African Republic”. This committee is made up of 15 experts from 5 different ministries.
The group of experts is responsible for drafting the crypto bill. This text requires the approval of the Central African Parliament.
Why such a change ?
This decision in the Central African Republic is part of a series crypto initiatives very interesting in Africa. The continent seems particularly enthusiastic about the idea of using cryptocurrency to overcome the failures of the current banking system.
Just a few days ago, another African country reached a milestone. In fact, after waiting two years, the Nigerian crypto exchange Roqqu finally got permission to offer crypto services in European Economic Area.
This permit is particularly useful for African citizens living abroad.The CEO of Roqqu, Benjamin Onomor, claims that expatriate Africans sent more than 5 billion of dollars to relatives back home. However, they are forced to use slow and expensive processes.
Crypto of the week – Aptos
Aptos defines itself as “the most advanced Tier 1 blockchain secure and the most scalable “. It uses the consensus method Proof of Stake (PoS) and is consistent with these new blockchains from 4th generation.
This blockchain was born from the ashes of the former Libra Diem Meta’s failed attempt in the cryptocurrency world. When the latter was abandoned in January 2022, some developers jumped overboard to find Aptos Labs, the company responsible for developing the eponymous blockchain.
Developped by Meta for the Diem stablecoin, the Move programming language will be reused to create a blockchain scalable, decentralized and secure. To do this, Aptos integrates parallel transaction execution. But also an advanced consensus mechanism, AptosBFT V4, in its technology stack. Thanks to these two technologies, the Aptos blockchain can theoretically execute an average of 130,000 transactions per second.
With a Market Cap of 1,930,933,289, a price at 12.12, the price undergoes this week an increase of 59.65%, causing it to rise to the 32nd place in the CoinMarketCap ranking.
Don’t forget to read our news from last week !
This article is not investment advice. Do your own research before investing in the cryptocurrency market.