Skip to main content

Featured Story

El Salvador's Bitcoin Revolution: Bukele's Re-Election

El Salvador’s Political Landscape: Bukele’s Re-Election and Bitcoin Integration The recent re-election of President Nayib Bukele of El Salvador marks a pivotal moment in the nation’s political and economic journey. With an overwhelming 85% of the vote according to exit polls, Bukele’s victory not only underscores his popularity but also reflects a broader endorsement of his controversial policies—particularly his bold embrace of Bitcoin as legal tender. This pioneering approach has positioned El Salvador at the forefront of cryptocurrency adoption on a global scale, despite facing international scrutiny. The Bukele Administration: A Brief Overview Since assuming office in 2019, Bukele has made significant strides in several key areas: Gang Violence Reduction: His administration has implemented strategies aimed at curbing the rampant gang violence that has plagued the country for years. Bitcoin Legalization: In September 2021, El Salvador made history by becoming the first

Cosmos Hub's ATOM Faces Divisive Hard Fork Following Inflation Reduction Vote

In response to the recent community vote to reduce inflation on the Cosmos Hub's native token ATOM, founder Jae Kwon has proposed a hard fork of the cryptocurrency. This decision has resulted in a divide within the Cosmos community and has led to a 4% decrease in the price of ATOM. The passing of Proposal 848, with 41.1% of the network's voting power in favor and 31.9% against, will see ATOM's inflation rate reduced from around 14% to a maximum of 10%. Proponents of the proposal argue that this reduction is necessary to maintain network security and that validators will still be able to break even or turn a profit. In a tweet, Jae Kwon has called for the community to coordinate a split and proposed the creation of a new network called AtomOne, which would support both ATOM and a new token called ATOM1. The new network would have a higher maximum inflation rate of 20% and an altered governance mechanism that requires a two-thirds threshold for proposals to achieve quorum. Additionally, 10% of the genesis supply of ATOM1 will be premined for various purposes, while the remaining 90% will be airdropped to those who opposed Proposal 848, based on their voting activity. Although the fork will use much of the existing Gaia architecture employed by Cosmos Hub, it is important to note these changes in the proposed new network.


Trending Stories