Twitter is starting to pay creators in cryptocurrency.

 





For the week ending April 22, all the news pertaining to bitcoin, cryptocurrencies, and NFT.

Greetings and welcome to Nonfungible Tidbits, a weekly news compilation on cryptocurrencies, NFTs, and related topics.

This week, Twitter became the first business to adopt Stripe's new bitcoin payments tool. The social media platform intends to provide creators—individuals who profit directly from the sales of their music, video, and other works—the choice of receiving payment in a stablecoin.

Additionally, we'll talk about Coinbase rolling out a beta version of its NFT marketplace, New York legislators debating a ban on the use of fossil fuels for the state's cryptocurrency mining operations, and an odd cyberattack on a DeFi protocol in which the hacker left the stolen cryptocurrency behind.










Beginning with Twitter, Stripe will accept bitcoin payments

Bitcoin and other cryptocurrencies will be accepted by online payment processor Stripe, the company announced on Friday. Twitter, a major player in social media, which pays authors through Stripe at the moment, is the first company to sign up for this function. Currently, a stablecoin known as USDCoin, or USDC, will be utilized for the payout. The USDC stablecoin has a lower volatility than other cryptocurrencies like bitcoin since its value is tied to the US dollar.

Creators that sell premium content to their followers, such as those who profit from Twitter's paid Ticketed Spaces and Super Follows features, will have the opportunity to accept bitcoin payments through Twitter, which will capitalize on Stripe's cryptocurrency payments feature. A digital wallet is an option for creators who want their payment transmitted there.









Beta of the NFT market is made available by Coinbase.

a cryptocurrency exchange On Wednesday, Coinbase made the beta version of a functionality available to customers, enabling them to purchase and trade NFTs on the site. A Web3 social marketplace for NFTs is what Coinbase refers to as its new feature, which makes it sound as though social media components may be incorporated into the exchange's offering. People can currently only access Ethereum-based NFTs on Coinbase using the beta version.

New York legislators consider a moratorium on cryptocurrency mining

According to a Wall Street Journal report, a debate in New York is intensifying over how and whether it is appropriate to permit cryptocurrency mining. A two-year restriction on reactivating outdated fossil fuel power stations in the state for cryptocurrency mining is being considered by New York lawmakers.


Electricity is a significant portion of miners' overhead because cryptocurrency mining activities require a tremendous amount of energy. The cost of purchasing enough electricity to mine a single cryptocurrency is high, and cryptocurrency miners require constant access to power at all times. Therefore, existing power plants are being used by miners as a cheap source of electricity for their activities.

According to the Cambridge Bitcoin Electricity Consumption Index, the energy utilized by the bitcoin network is somewhat lower than the energy consumed by the entire nation of Egypt. The bitcoin network is now being changed in order to lessen the carbon footprint of the network, according to Greenpeace and other organizations.












Hacker uses DeFi protocol exploit, then abandons cryptocurrency they have taken.


An unexpected turn of events saw a hacker steal $1 million in cryptocurrency from the Zeed decentralized financial system, but he was unable to withdraw it. Generally speaking, DeFi protocols are sets of codes that operate on blockchains and enable different financial transfers and transactions using cryptocurrencies. Business Insider India compared the hack to stealing a bank, taking the loot, and then forgetting about it. The article added that hackers and exploitations of DeFi protocols had been responsible for roughly 97% of all cryptocurrency thefts this year.

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