👴 Crypto space is dividing over Bitcoin NFTs

👴 Crypto space is dividing over Bitcoin NFTs 🏎️ Huobi and Tron launch season 4 of the "HackaTron" hackathon 🔒 Hong Kong planning to regulate stablecoins with strict requirements

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We are super excited to announce the development of our newest game, Warring Tribes - a blockchain game that you would be able to play on your browser, iOS and Android device!

The game is the newest iteration of our previous game, The Beginning, with a whole new set of features. This one is bigger and better than ever before! With more strategic options and improved graphics, as well as more ways to earn, you won’t want to miss out on this one.

Stay tuned for more updates!

👴 Crypto space is dividing over Bitcoin NFTs 

🏎️ Huobi and Tron launch season 4 of the "HackaTron" hackathon 

🔒 Hong Kong planning to regulate stablecoins with strict requirements

Crypto space is dividing over Bitcoin NFTs

NFTs on Bitcoin? A travesty according to some, while others are more open-minded. The debate over the use of Bitcoin to store non-fungible tokens (NFTs) has been raging since Ordinals protocol debuted earlier this month.

Ordinals is a protocol created by a core BTC dev Casey Rodarmor, which enables users to store content on the blockchain. Through this protocol, a user can add arbitrary content such as text or images to sequentially numbered sats in the Bitcoin network. This creates unique digital artifacts that can be stored, transferred, and tracked on the blockchain.

Critics of this protocol state that it will mess with the transactions by congesting blocks and elevating transaction costs.

Rodarmor however disagrees with the suggestion, claiming that the fee market pricing mechanism will handle everything. He argues that the fee market will ensure that transactions are processed in a timely and efficient manner, while also keeping fees at an optimal level.

Bitcoiners don't seem to be entirely against the idea of NFTs, but they indeed have some reservations about how they should be implemented. Some argue that storing such complex data on the blockchain will require a dedicated layer-2 solution. Others point out that you can't just put anything on the chain and that you need to be careful about what's being stored.

It remains to be seen how NFTs will fare on the BTC network but at least we can't say that the space is entirely closed off to new ideas. As long as we can debate and come to a consensus on how best to implement them, then new tech developments can still move crypto forward.

Huobi and Tron launch season 4 of the "HackaTron" hackathon

Tron and Huobi launch the fourth season of their "HackaTron" hackathon on February 1. This year they're propping up the event with over half a million dollars worth of USDD to award participants who present promising dapps.

Six different tracks will be available to choose from this year, including two new ones-the Builder track, which is exclusively for returning participants who are continuing development on the Tron network, and the Eco-Friendly track, which encourages initiatives that promote eco-friendly blockchain solutions.

The hackathon season is an opportunity for developers to showcase their skills while also creating innovative new projects using the Tron platform. Participants will compete against each other in order to win a share of the half a million dollar prize pool, with winners being chosen by a panel of expert judges.

In any case, the hackathon is sure to bring out some of the most creative and forward-thinking projects on the Tron network and could serve as a major catalyst for growth in the coming months. We'll be keeping an eye out for the winning projects.

Hong Kong planning to regulate stablecoins with strict requirements

Hong Kong is set to become one of the first jurisdictions to establish a regulatory framework specifically for stablecoins. This will involve licensing requirements, but only for those entities conducting regulated activities in Hong Kong. The HKMA (Hong Kong Monetary Authority) will not allow algorithmic stablecoins, as these are seen to be too risky and difficult to manage.

The HKMA plans to enforce stringent financial, operational and corporate governance requirements on all licensed issuers of stablecoins. There will be strict capital requirements to ensure that stablecoin reserves are sufficient to cover the total amount of crypto in circulation.

The new regulations will also include measures to mitigate the risks associated with stablecoins. These could include limits on leverage and requirements for auditing and reporting transactions. This move is intended to ensure that the stablecoin market in Hong Kong is well-regulated, safe, and secure. The goal is to ensure that the stablecoin market operates within certain parameters and safeguards.

After Terra's UST catastrophe the governments around the world are starting to pay more attention to the ever growing stablecoin and crypto markets. Hong Kong is one of the first governments taking action in the form of regulation. It is likely that other governments will follow suit, as they are becoming increasingly aware of the potential risks and opportunities associated with stablecoins. What can we say, thanks Do Kwon & friends for speeding things up.