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Building a Blockchain Application with JavaScript

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Building a Blockchain Application with JavaScript

The post Building a Blockchain Application with JavaScript appeared first on Coinpedia Fintech News

Introduction

Blockchain technology has an impact on many of today’s game-changing innovations, from cryptocurrencies like Bitcoin to decentralized apps (DApps) in different fields. A blockchain is a shared ledger that keeps track of transactions across many computers so that the record can’t be changed after the fact. Each entry, or “block,” is connected to the one before it making a chain of blocks, which is why it’s called a “blockchain.” This setup makes sure data is open, secure, and can’t be altered, which is key for lots of uses

JavaScript in Blockchain

Javascript is a multifaceted and celebrated language especially suited for blockchain development. With its extensive ecosystem and strong community support, JavaScript simplifies blockchain development in several ways:

  • Wide Adoption: Since Javascript is the core language used for web development its very obvious to have application in the blockchain landscape with web applications.
  • Asynchronous Processing: JavaScript’s asynchronous capabilities, facilitated by Node.js, are ideal for handling multiple transactions and interactions in a blockchain environment.
  • Rich Ecosystem: Tools and libraries in the JavaScript ecosystem, such as Node.js for server-side development and Express.js for APIs, streamline blockchain application development.

Audience

This article is designed for developers who are familiar with JavaScript and wish to delve into blockchain technology. It will guide you through setting up your development environment, understanding blockchain fundamentals, building a basic blockchain application, and exposing it via a simple API.

Chapter 1: Setting Up the Development Environment

Installing Node.js

  • Download node js on your system from the official website and prefer the LTS (Long Term Support) version as it is recommended the best for all the operating systems and maintain stability.
  •  Follow the installation instructions specific to your OS. The installation includes npm (Node Package Manager), which is essential for managing project dependencies.
  • Verify the installation is done properly or not by running the following commands in the bash:
    1. node -v
    2. npm -v

    After you run the commands you should get the respective versions of the packages you installed if the setup is successful.

    Choosing an IDE

    When you opt for JavaScript as your programming language the best partner to cater all the development needs is VsCode its robust features and versatile environment is best suitable.

    • Visual Studio Code:
      1. Download VsCode from the official site
      2. Install the extensions as follows:
        1. ESLint: For identifying and fixing problems in JavaScript code.
        2. Prettier: For consistent code formatting.
        3. Debugger for Chrome: For debugging JavaScript code running in Google Chrome.
        4. Node.js: For Node.js debugging capabilities.

    Installing Required Libraries

    JavaScript libraries are managed via npm. Initialize your project and install the required libraries with:

    npm init -y
    npm install express body-parser crypto

    //express is the  node framework 
    //body-parser is the middle ware to parse the incoming requests
    //crypto function used for hashing

    Chapter 2: Understanding Blockchain Concepts with JavaScript

    Blockchain Basics in JavaScript

    A blockchain comprises of blocks, which contain:

    • Index: Position of the block in the chain.
    • Timestamp: Date and time when the block was created.
    • Data: Transaction data or other information stored in the block.
    • Previous Hash: Hash of the previous block in the chain, linking blocks together.
    • Hash: Unique identifier for the block, generated by hashing its content.
    const crypto = require(‘crypto’);

    class Block {    
    constructor(index, timestamp, data, previousHash = ”) {        
    this.index = index;        
    this.timestamp = timestamp;        
    this.data = data;        
    this.previousHash = previousHash;        
    this.hash = this.calculateHash();    
    }
        calculateHash() {        
    return crypto.createHash(‘sha256’)            
    .update(this.index + this.previousHash + this.timestamp + JSON.stringify(this.data))           
     .digest(‘hex’);    
    }
    }

    Importance of decentralization, immutability, and consensus mechanisms:

    Decentralization

    There is no central authority that holds all the necessary data or transaction validation rather it is all distributed across the network. As we know in blockchain, every node maintains a copy of the ledger which ensures there isn’t any discrepancy due to a single point of control. 

    Transparency:

    All the nodes and participants can view the ledger ensuring transparency throughout the network. In Ethrerneum the transactions are visible on the blockchain explorer.

    Immutability:

    One needs to be very careful before executing any transaction because once it’s done it can’t be further altered. This property is quite helpful in preventing fraud and double-spending.

    Consensus Mechanism:

    Consensus mechanisms are a set of protocols that the nodes should follow in the network to agree on the state of the ledger. These mechanisms are used for the validation and authentication of transactions. These mechanisms ensure all nodes in the DLT agree on the state of the ledger. 

    Components of a Blockchain Application

    Block structure in JavaScript:

    const crypto = require(‘crypto’);

    class Block {    
    constructor(index, timestamp, data, previousHash = ”) {        
    this.index = index;        
    this.timestamp = timestamp;        
    this.data = data;        
    this.previousHash = previousHash;        
    this.hash = this.calculateHash();        
    this.nonce = 0; // For Proof of Work    
    }
        
    calculateHash() {        
    return crypto.createHash(‘sha256’)            
    .update(this.index + this.previousHash + this.timestamp + JSON.stringify(this.data) + this.nonce)            
    .digest(‘hex’);    }
        
    mineBlock(difficulty) {        
    while (this.hash.substring(0, difficulty) !== Array(difficulty + 1).join(“0”)) {            
    this.nonce++;            
    this.hash = this.calculateHash();        
    }        
    console.log(“Block mined: ” + this.hash);    
    }
    }

    Creating and verifying transactions using JavaScript:

    Transactions form the basic building blocks of data in a blockchain. They show a shift in value, carry out a contract, or make other changes to the blockchain’s condition. The system groups these transactions into blocks and puts them on the blockchain.

    Details of the Transaction:

    • Sender: The public key or specific identification of who’s sending it over.
    • Receiver: The public key or specific identification of the lucky one who’s getting the transaction.
    • Amount: What’s getting passed around, be it money or some info.
    • Time Stamp: When they decided to hit send on this thing.
    • Authenticity Proof/Signature: Some super-secret code stuff that shows the deal’s legit and has not been tampered with. The one who sends it uses their secret key to seal the deal, and everyone else can check it’s for real with the public key.

    Code snippet for the transaction:

    class Transaction {    
    constructor(fromAddress, toAddress, amount) {        
    this.fromAddress = fromAddress;        
    this.toAddress = toAddress;        
    this.amount = amount;        
    this.timestamp = new Date().toISOString();    
    }
        calculateHash() {        
    return crypto.createHash(‘sha256’)            
    .update(this.fromAddress + this.toAddress + this.amount + this.timestamp)            
    .digest(‘hex’);    
    }
        
    signTransaction(signingKey) {        
    if (signingKey.getPublic(‘hex’) !== this.fromAddress) {            
    throw new Error(‘You cannot sign transactions for other wallets!’);        
    }
           
     const hashTx = this.calculateHash();        
    const sig = signingKey.sign(hashTx, ‘base64’);        
    this.signature = sig.toDER(‘hex’);    }
        isValid() {        
    if (this.fromAddress === null) return true;
            

    if (!this.signature || this.signature.length === 0) {            
    throw new Error(‘No signature in this transaction’);       
     }
            
    const publicKey = ec.keyFromPublic(this.fromAddress, ‘hex’);        
    return publicKey.verify(this.calculateHash(), this.signature);    
    }
    }

    Transaction verification confirms the legitimacy of a transaction by checking that the sender has properly signed it and that the sender has enough funds. This process usually involves validating the cryptographic signature and ensuring that the sender’s balance is equal to or greater than the transaction amount.

    class Blockchain {    
    constructor() {        
    this.chain = [this.createGenesisBlock()];        
    this.pendingTransactions = [];        
    this.miningReward = 100;    
    }
        
    createGenesisBlock() {        
    return new Block(Date.parse(‘2024-01-01’), [], ‘0’);    
    }
        getLatestBlock() {        
    return this.chain[this.chain.length – 1];    
    }
        
    minePendingTransactions(miningRewardAddress) {        
    let block = new Block(Date.now(), this.pendingTransactions, this.getLatestBlock().hash);        
    block.mineBlock(this.difficulty);
            
    console.log(‘Block successfully mined!’);        
    this.chain.push(block);
            this.pendingTransactions = [            
    new Transaction(null, miningRewardAddress, this.miningReward)        
    ];   
     }
        addTransaction(transaction) {        
    if (!transaction.fromAddress || !transaction.toAddress) {            
    throw new Error(‘Transaction must include from and to address’);        }
            
    if (!transaction.isValid()) {            
    throw new Error(‘Cannot add invalid transaction to chain’);        
    }
            this.pendingTransactions.push(transaction);    
    }
        
    getBalanceOfAddress(address) {        
    let balance = 0;
            
    for (const block of this.chain) {            
    for (const trans of block.data) {               
     if (trans.fromAddress === address) {                   
     balance -= trans.amount;               
     }
                    
    if (trans.toAddress === address) {                   
     balance += trans.amount;                
    }           
     }       
     }
            return balance;    
    }
        isChainValid() {        
    for (let i = 1; i < this.chain.length; i++) {            
    const currentBlock = this.chain[i];            
    const previousBlock = this.chain[i – 1];
                if (!currentBlock.hasValidTransactions()) {                
    return false;            
    }
                if (currentBlock.hash !== currentBlock.calculateHash()) {                
    return false;            
    }
                if (currentBlock.previousHash !== previousBlock.hash) {                
    return false;            
    }        
    }
            return true;    
    }
    }

    Overview of consensus algorithms compatible with JavaScript:

    Proof of Work (PoW):

    Technical Explanation: Proof of Work is also known as mining. In this consensus mechanism, the users have to solve cryptographic puzzles that reward them.It is a contest where the first one to solve gets to pass the new block. This algorithm uses hashing to secure the blockchain. 

    Developer Implementation: Tools for implementing PoW are provided by the Bitcoin Developer Environment like Bitcoin Core.

    Proof of Stake (PoS):

    Technical Explanation: Proof of Stake selects validators based on the number of coins they have and the stake as collateral. The selection process just doesn’t depend only upon the stake but also on factors such as the age of the coin and randomness. Validators having the lowest hash value and highest stake amount are chosen to add the new block

    Developer Implementation: Tools and libraries for PoS are provided by Ethereum 2.0 SDK

    Delegated Proof of Stake (DPoS):

    Technical Explanation:  Uses voting and delegates for validation of the transaction and creation of new blocks.

    Developer Implementation: EOSIO SDK provides tools and libraries for DPoS.

    Chapter 3: Building a Simple Blockchain with JavaScript

     In this you will learn about the blockchain structure, defining classes and block and block parameters, and how they are linked together.

    Creating the Block Class

      Blockchain as the name represents is comprised of blocks and each block class bas attributes like:

      • Index: A numerical identifier for the block’s position within the blockchain.
      • Timestamp: The time at which the block was created.
      • Data: The data or transactions stored in the block. This could include information like transaction details, user data, etc.
      • PreviousHash: The hash of the previous block in the chain, ensuring continuity and security.
      • Hash: A unique identifier for the block, generated by hashing the block’s contents.
      • Nonce: A number used for the Proof of Work algorithm, which is adjusted until a valid hash is found.

      Implement methods to calculate the hash of the block using JavaScript syntax:

      • createGenesisBlock(): Creates the first block in the blockchain, known as the genesis block.
      • getLatestBlock(): Retrieves the most recent block in the blockchain.
      • addBlock(): Adds a new block to the blockchain after mining it.
      • isChainValid(): Validates the integrity of the blockchain by ensuring each block’s hash matches and that the previous hashes are consistent.

      Creating the Blockchain Class

      Define a Blockchain class to manage the chain and implement methods to add new blocks:

      class Blockchain {    
      constructor() {        
      this.chain = [this.createGenesisBlock()];        
      this.difficulty = 4;  // Difficulty level for mining    
      }
          // Method to create the genesis block    
      createGenesisBlock() {        
      return new Block(0, “01/01/2024”, “Genesis Block”, “0”);    
      }
         
       // Method to retrieve the latest block in the chain    
      getLatestBlock() {        
      return this.chain[this.chain.length – 1];    
      }
          
      // Method to add a new block to the chain after mining it    
      addBlock(newBlock) {        
      newBlock.previousHash = this.getLatestBlock().hash;        
      newBlock.mineBlock(this.difficulty);        
      this.chain.push(newBlock);    
      }
         
       // Method to validate the integrity of the blockchain    
      isChainValid() {        
      for (let i = 1; i < this.chain.length; i++) {            
      const currentBlock = this.chain[i];            
      const previousBlock = this.chain[i – 1];
                  
      // Check if the current block’s hash is correct            
      if (currentBlock.hash !== currentBlock.calculateHash()) {                
      return false;           
       }
                  // Check if the current block’s previous hash matches the hash of the previous block            
      if (currentBlock.previousHash !== previousBlock.hash) {                
      return false;            
      }       
       }        
      return true;    
      }
      }

      Chapter 4: Implementing Consensus Mechanisms in JavaScript

      Proof of Work

        Proof of Work, often referred to as mining, is a decentralized system in which network members, or miners, compete to solve cryptographic puzzles. The first miner to solve the puzzle adds the next block to the blockchain and receives a reward. This process uses hashing to secure the blockchain. The difficulty of PoW puzzles ensures the blockchain remains secure and controls the speed at which new blocks are added.

        In the Block class, we can implement Proof of Work by adding a mineBlock method. This method adjusts the nonce until the block’s hash meets a specific difficulty target (e.g., the hash must start with a certain number of zeros).

        Code Snippet:

        class Block {    
        constructor(index, timestamp, data, previousHash = ”) {        
        this.index = index;        
        this.timestamp = timestamp;        
        this.data = data;        
        this.previousHash = previousHash;        
        this.hash = this.calculateHash();        
        this.nonce = 0;   
         }
           
         // Calculate the hash of the block using SHA-256    
        calculateHash() {        
        return crypto.createHash(‘sha256’)            
        .update(this.index + this.previousHash + this.timestamp + JSON.stringify(this.data) + this.nonce)            
        .digest(‘hex’);    
        }

            // Implementing Proof of Work    
        mineBlock(difficulty) {        
        while (this.hash.substring(0, difficulty) !== Array(difficulty +
        1).join(“0”)) {            
        this.nonce++;            
        this.hash = this.calculateHash();       
         }        
        console.log(`Block mined: ${this.hash}`);    
        }
        }

        Update the Blockchain class to validate proof before adding new blocks.

        class Blockchain {    
        constructor() {        
        this.chain = [this.createGenesisBlock()];        
        this.difficulty = 4;    
        }
           
         // Create the genesis block    createGenesisBlock() {        
        return new Block(0, “01/01/2024”, “Genesis Block”, “0”);    
        }
            
        // Get the latest block in the chain    
        getLatestBlock() {        
        return this.chain[this.chain.length – 1];    
        }
            
        // Add a new block to the chain    
        addBlock(newBlock) {        
        newBlock.previousHash = this.getLatestBlock().hash;        
        newBlock.mineBlock(this.difficulty);  // Implementing Proof of Work        
        this.chain.push(newBlock);    
        }
            
        // Check if the blockchain is valid    
        isChainValid() {        
        for (let i = 1; i < this.chain.length; i++) {            
        const currentBlock = this.chain[i];            
        const previousBlock = this.chain[i – 1];
                    if (currentBlock.hash !== currentBlock.calculateHash()) {                
        return false;           
         }
                    if (currentBlock.previousHash !== previousBlock.hash) {                
        return false;           
         }        
        }        
        return true;    
        }
        }

        Chapter 5: Creating a Simple Blockchain API with JavaScript

        Just creating a blockchain is not enough one needs to make it usable in real life. For this purpose, we need to create an interface for interaction which will be a simple API.

        Setting Up the API Environment

          Before you start with building the API setting up the environment with all the essential tools and frameworks is necessary.

          • Install node and npm 
          • Initialize your project with the command: npm init -y
          • Install Express: npm install express –save (Express is the node js framework that helps in building APIs faster)
          • Install Body parser to handle the incoming request: npm install body-parser –save

          Building the API

            Now that your environment is set up, let’s build the API. The API will allow users to interact with the blockchain, view the chain, and add new blocks.

            Create the server with Express:

            const express = require(‘express’);
            const bodyParser = require(‘body-parser’);
            const Blockchain = require(‘./blockchain’);  // Import the Blockchain class

            const app = express();
            app.use(bodyParser.json());

            let demoBlockchain = new Blockchain();  // Initialize a new Blockchain instance

            Define API endpoints

            app.get(‘/blocks’, (req, res) => {     //endpoint to get the blockchain    
            res.json(demoBlockchain.chain);});

            //this is the endpoint to create a newblock

            app.post(‘/mine’, (req, res) => {    
            const newBlock = new Block(        
            demoBlockchain.chain.length,        
            Date.now(),        
            req.body.data,        
            demoBlockchain.getLatestBlock().hash   
             );    
            demoBlockchain.addBlock(newBlock);
                res.send(`Block successfully mined: ${newBlock.hash}`);
            });

            Start the server

            app.listen(3000, () => {    
            console.log(‘Blockchain API running on port 3000’);
            });
            node server.js

            Chapter 6: Running and Testing the Application

            This phase is critical to ensure that your blockchain is functioning correctly and that all features work as expected.

            Running the Application

            1. Start the server: Navigate to your project directory and then run the target: node server.js
            2. Get Server Confirmation: Blockchain API running on port 3000
            3. Accessing the Application: Your application is now running locally on http://localhost:3000, making it ready to accept HTTP requests

            Testing with Postman

            Postman is a widely used tool for testing APIs, allowing you to send HTTP requests and view the responses. It’s particularly useful for verifying the functionality of your blockchain API.

            • Install Postman
            • Testing the Blockchain Endpoint
            • Test the Mining endpoint
            • Verify the blockchain
            (Step1)node server.js
            Blockchain API running on port 3000

            //http://localhost:3000/block

            (Step2)[    
            {        
            “index”: 0,        
            “timestamp”: 1636568887994,        
            “data”: “Genesis Block”,       
             “previousHash”: “0”,       
             “hash”:
            “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”   
             }
            ]

            (Step3){    
            “data”: {        
            “amount”: 100,        
            “sender”: “John Doe”,        
            “receiver”: “Jane Smith”   
             }
            }

            (Step4){   
             “message”: “Block successfully mined”,    
            “block”: {        
            “index”: 1,        
            “timestamp”: 1636578990123,        
            “data”: {            
            “amount”: 100,            
            “sender”: “John Doe”,            
            “receiver”: “Jane Smith”        
            },        
            “previousHash”: “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”,       
             “hash”:
            “5a1cdd657c8d0d3c0f12c2bb2c9fdf32a7d2d4ad13fcb78170a8caa82ff4a9a2”    
            }
            }

             (Step5)[
                {
                    “index”: 0,        
            “timestamp”: 1636568887994,       
             “data”: “Genesis Block”,       
             “previousHash”: “0”,        
            “hash”:

            “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”

             

               },    
            {

             

                   “index”: 1,        
            “timestamp”: 1636578990123,       
             “data”: {            
            “amount”: 100,           
             “sender”: “John Doe”,           
             “receiver”: “Jane Smith”        
            },        
            “previousHash”: “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”,       
             “hash”:
            “5a1cdd657c8d0d3c0f12c2bb2c9fdf32a7d2d4ad13fcb78170a8caa82ff4a9a2”   
             }
            ]

            curl http://localhost:3000/blocks //View the blockchain
            [   
             {       
             “index”: 0,        
            “timestamp”: 1636568887994,       
             “data”: “Genesis Block”,       
             “previousHash”: “0”,       
             “hash”:
            “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”    
            }
            ]

            //Mining a new blockcurl -X POST -H “Content-Type: application/json” -d ‘{“data”: {“amount”: 100, “sender”: “John Doe”, “receiver”: “Jane Smith”}}’ http://localhost:3000/mine

            //verify the blockcurl http://localhost:3000/blocks

            [   
             {       
             “index”: 0,        
            “timestamp”: 1636568887994,       
             “data”: “Genesis Block”,       
             “previousHash”: “0”,       
             “hash”: “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”    
            },    
            {       
             “index”: 1,       
             “timestamp”: 1636578990123,        
            “data”: {           
             “amount”: 100,            
            “sender”: “John Doe”,            
            “receiver”: “Jane Smith”       
             },        
            “previousHash”: “81f1a4ab4d484c64f1b4c524b1d8f2fef8f2bca7853d44682e12022fb2d803b9”,       
             “hash”:
            “5a1cdd657c8d0d3c0f12c2bb2c9fdf32a7d2d4ad13fcb78170a8caa82ff4a9a2”    
            }
            ]

            Chapter 7: Live Example of Building a Blockchain Application with JavaScript

            Step-by-Step Execution

            • Step 1: Create the Block class with necessary attributes using JavaScript syntax.
            class Block {    
            constructor(index, timestamp, data, previousHash = ”) {        
            this.index = index;        
            this.timestamp = timestamp;        
            this.data = data;        
            this.previousHash = previousHash;        
            this.hash = this.calculateHash();        
            this.nonce = 0;    
            }
            }
            • Step 2: Implement the calculateHash method.
            calculateHash() {   
             return crypto.createHash(‘sha256’)        
            .update(this.index + this.previousHash + this.timestamp + JSON.stringify(this.data) + this.nonce)       
             .digest(‘hex’);
            }
            • Step 3: Define the Blockchain class and initialize it with a genesis block.
            class Blockchain {    
            constructor() {        
            this.chain = [this.createGenesisBlock()];    
            }
            }
            • Step 4: Implement methods to add new blocks and retrieve the latest block using JavaScript.
            getLatestBlock() {    
            return this.chain[this.chain.length – 1];
            }

            addBlock(newBlock) {    
            newBlock.previousHash = this.getLatestBlock().hash;    
            newBlock.hash = newBlock.calculateHash();    
            this.chain.push(newBlock);}

            • Step 5: Add Proof of Work functionality to the Block class and update the Blockchain class.
            mineBlock(difficulty) {    
            while (this.hash.substring(0, difficulty) !== Array(difficulty + 1).join(“0”)) {        
            this.nonce++;        
            this.hash = this.calculateHash();    
            }
            }
            • Step 6: Set up the API environment to handle requests using Express.
            npm init -y
            npm install express –save                        //Setting up the project and
            the directory

            const express = require(‘express’);      //Setting up the express server
            const bodyParser = require(‘body-parser’);

            const Blockchain = require(‘./blockchain’); // Assuming you have the
            Blockchain class from previous chapters

            const app = express();
            app.use(bodyParser.json());

            const demoBlockchain = new Blockchain();

            app.get(‘/blocks’, (req, res) => {    
            res.json(demoBlockchain.chain);
            });      

            app.post(‘/mine’, (req, res) => {            //creating a new block        
                const newBlock = new Block(

            demoBlockchain.chain.length,
                    Date.now(),
                    req.body.data,
                    demoBlockchain.getLatestBlock().hash
            );
                newBlock.mineBlock(2); // Assuming a difficulty of 2 for PoW
                demoBlockchain.addBlock(newBlock);
                
            res.send(`Block successfully mined: ${newBlock.hash}`);
            });
            app.listen(3000, () => {                               //starting the server
                console.log(‘Blockchain API running on port 3000’);
            });

            node server.js

            • Step 7: Test the application by mining a new block and verifying the blockchain using Postman or curl.
            In postman send the request:
            GET request to http://localhost:3000/blocks.
            {    
            “data”: {       
             “amount”: 10,       
             “sender”: “Alice”,       
             “receiver”: “Bob”   
             }
            }

            In curl:curl
            http://localhost:3000/blocks

            Lets summarize the above steps in short

            Let’s go through the process step by step to bring your blockchain application to life:

            1. Begin by defining the Block and Blockchain classes to establish the core structure of your blockchain.
            2. Incorporate Proof of Work by adding the mineBlock method to the Block class, ensuring each block meets the required difficulty before being added to the chain.
            3. Set up an API using Express that allows you to interact with your blockchain, enabling operations like viewing the chain and adding new blocks.
            4. Execute and test your application with Postman or curl to verify that everything functions as expected, from mining blocks to retrieving the blockchain data.
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            Bitcoin Price Holds Above $63,000 — Here’s The Next Critical Resistance Level

            The Bitcoin price has been relatively quiet in October, but things seem to be looking up after the premier cryptocurrency broke the $63,000 mark on Saturday, October 12. However, the crypto has to scale a major resistance level if the current bull run is to get back on track. $64,000 The Resistance Level To Watch: Analyst In a Quicktake post on CryptoQuant, an analyst with the pseudonym ShayanBTC has put forward an interesting prognosis for the Bitcoin price in the…

            Analyst Forecasts XRP Bullish Breakout – A 1,000% Opportunity?

            XRP is currently testing a crucial resistance level that will shape its price action in the coming weeks. After the euphoria surrounding the Federal Reserve’s interest rate cuts in late September, the market is experiencing uncertainty and anxiety. While some investors remain optimistic, the recent price movements of XRP have led to a sense of caution.  Top crypto analyst Amonyx has shared insights into the potential for an unexpected XRP rally. In his analysis, he suggests that the altcoin might…

            Analyst Sets $2.50 Target For SUI Following 30% Weekly Gain – Details

            Sui (SUI) has been one of the most popular crypto assets of 2024, with notably high market gains and drastic price losses over the year. The altcoin is currently moving sideways following a recent price rally in the last week. As usual, these consolidative movements draw much speculation on the token’s next price action. SUI To Record ATH At $2.50, Analyst Says In an X post on Saturday, market analyst Michaël van de Poppe dropped a new price target for…

            Active Dogecoin Addresses Reach Highest Level In 8 Months – Is DOGE About To Rally?

            Dogecoin is currently in a consolidation phase following days of sharp volatility and wild price swings. Since the start of October, the meme coin has been trading within a tight sideways range, leaving some investors concerned about whether the anticipated rally for DOGE will ever materialize. The uncertainty in the market has heightened fears that Dogecoin’s price might stagnate further, as bullish momentum seems to have cooled off. However, new data from Santiment offers a glimmer of hope for DOGE…

            Forget Dogecoin (DOGE), This New Crypto Will Make DOGE’s 2021 Rally Look Like a Joke

            Trends are cyclical and while a few digital coins appeal to the general populace a little more than others, others fade away. Keeping in mind the latest trends, cryptocurrencies such as Dogecoin (DOGE) gained much popularity due to the social media ‘hype’ among clients and endorsements from celebrities, and in the year 2021, it reached its actual deep growth and surprising shots. Nevertheless, with the advancements in the crypto space, there is a new challenger ready and that can do…

            This New Cheap Token Under $0.10 Is Set to Make Early Investors Rich, Just Like NEIRO Did Last Month

            The field of cryptocurrency is one of the best business opportunities which are expanding rapidly today. So, one of the keys to earning good returns is the ability to concentrate on the area that is about to offer some very attractive investment prospects. All those investors who came to NEIRO last month got the benefit of this increase, changing their reasonable investments to good profits. Now, there is another crypto that is ready to serve similar purposes: Rexas Finance (RXS).…

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            Bitcoin

            SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets

            The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…

            Bitcoin Should be Banned in the United States: Charlie Munger

            Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

            Tesla’s BTC Positions Remained Unchanged in Q4 of 2022

            According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…

            Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF

            The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

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            Ethereum

            Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live

            At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…

            Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears

            Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system.  However, since the Beacon launch…

            FTX Hacker Converts 50k Stolen ETH to BTC

            Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%.  https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…

            Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant

            According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US  Treasury Department. Indeed, the OFAC administers and enforces US  financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash.  According to…

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            Trading

            How to Leverage Arbitrage Opportunities in Crypto Markets

            Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit.  Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…

            The Different Types of Copy Trading in Crypto

            Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…

            How to Spot an Unsafe Crypto Exchange

            Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable.  With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange.  The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…

            What Is Grid Trading in Crypto?

            Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…

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            Tech

            Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity

            The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…

            Bit2Me Champions WEMIX Token in Pioneering European Listing

            Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…

            CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades

            In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing  CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…

            Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management

            The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…

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