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Ethereum 2.0 vs. the top Ethereum killers|The Market Report

by Coy Buckley

On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss Eth2 and how it compares to the competition.

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“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts give you the details about Ethereum 2.0, its main competitors, and how they differ from each other.

To kick things off, we break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown:

Bitcoin ‘Bart Simpson’ returns as BTC price dives 7% in hours: Bitcoin (BTC) price action failed to crack $32,000 and headed back to square one, sparking $60 million of long liquidations in the process. How much longer will we stay in the current price range? What is it going to take for Bitcoin to break out from here?

Bad day for Binance with SEC investigation and Reuters exposé: The United States Securities and Exchange Commission is reportedly suspicious that Binance, the world’s largest crypto exchange, sold unlicensed securities via its BNB initial coin offering, and the news agency Reuters has tallied up some old cases. What will it mean for BNB if the SEC decides to pursue a case against Binance? Will it impact the trust people have in the exchange?

Next up is a new segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Beware of pump-and-dump schemes.

Next, market expert Marcel Pechman carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some markets news to bring you up to date on the latest regarding the top two cryptocurrencies.

After Marcel’s market analysis, our resident experts discuss Eth2 — now simply referred to as the “consensus layer” by the Ethereum Foundation — and how it will differ from its previous iteration. They take a deep dive into why it’s important and the problems it hopes to solve. They also compare it to its closest rivals, dubbed “Ethereum killers,” to see if they actually have the potential to replace Ethereum. This segment is packed full of helpful information, so be sure to stick around.

Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: VITE and Autofarm's AUTO.

Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a free one-month subscription to Markets Pro.

The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here and during the show are the analysts' alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, “Rising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency” on Tuesday. The committee hosted a panel of private-sector experts who discussed the problem of ransomware attacks and the challenges of collecting and using the information necessary to fight them. 

Committee chair Gary Peters of Michigan, who introduced the Strengthening American Cybersecurity Act in February, said the government lacks sufficient data even to understand the scope of the threat posed by ransomware attacks. Attackers almost exclusively ask for payment in cryptocurrency, he added.

Several figures were trotted out to quantify the problem. Chainalysis head of cyber threat intelligence Jackie Burns Koven said the company had identified a record $712 million paid to attackers in 2021, with 74% of the money going to threat actors in Russia or with links to Russia. The average payment was $121,000, and the median payment was $6,000. Attackers often use a Ransomware-as-a-Service business model.

Related: Making crypto conventional by improving crypto crime investigations worldwide

Ransomware is a form of extortion, and it existed before cryptocurrency, Institute for Security and Technology chief strategy officer Megan Stifel and Coveware CEO Bill Siegel said. Knowing what information to collect when an attack occurs and how to organize the information is a major challenge for law enforcement, Siegel added.

Information collection often is “a convoluted mess at the worst possible moment,” committee member James Lankford of Oklahoma said. Multiple agencies demand overlapping but not identical data from victims of attack in its aftermath — and then, prosecution of the case could take years. Those factors, along with concerns that the attackers will not release an encryption key if law enforcement becomes involved, explain much of the hesitancy of victims to report attacks.

Stifel suggested that designating a single agency to receive and triage data after an attack would improve information collection, especially if businesses established a relationship with that agency prior to the attack.

Koven said blockchain analysis can provide “immediate insight into the network of wallet addresses and services (e.g., exchanges, mixers, etc.) that facilitate the illicit actor,” in contract to the lengthy processes of traditional financial investigation.

U.S. government sanctions imposed on ransomware actors and their facilitators are highly effective, Koven continued. She pointed to sanctions against Russia-based cryptocurrency exchange Garantex and trader Suex as examples. Money flows “drop to almost zero” after sanctions, she said. In addition, blockchain analysis can track the rebranding of attackers, and Chainalysis has developed technology to track funds through cryptocurrency mixers.

",audio:"https://s3.cointelegraph.com/audio/87685.a5fc4bd6-86bd-48ef-b2c8-c5e13333279e.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:lE,shares:s,tags:[{id:Y,slug:kv,title:kw,url:kx},{id:hX,slug:ii,title:hY,url:fS},{id:xS,slug:"senate",title:"Senate",url:"/tags/senate"},{id:"1509",slug:"ransomware",title:"Ransomware",url:"/tags/ransomware"},{id:"2900",slug:"cybercrime",title:"Cybercrime",url:"/tags/cybercrime"},{id:xT,slug:xU,title:xV,url:xW},{id:"4742",slug:"edcab",title:"EDCAB",url:"/tags/edcab"},{id:oi,slug:oj,title:ok,url:kA}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87685regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:nZ,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"truefi-launches-on-optimism-expanding-access-to-on-chain-credit",url:xB,absoluteUrl:"https://cointelegraph.com/news/truefi-launches-on-optimism-expanding-access-to-on-chain-credit",title:n_,youtubeVideoIdCover:d,cover:xC,datePublished:aI,dateHuman:"39 minutes ago",humanDateTime:"2022-06-07 21:45",dateISOFull:"2022-06-07T20:45:00+01:00",publishedDateTimeObject:{year:D,month:x,day:E,hour:fT,minute:lF,second:e,millisecond:e},categorySlug:aq,categoryUrl:ar,categoryName:as,authorName:"Sam Bourgi",authorUrl:"/authors/sam-bourgi",authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/410cc37c638a4a9e6a3868bad2dfb591.jpg",previewText:"Several projects have launched on Optimism this year with the goal of giving users instant transactions and lower gas fees. ",twitterLeadText:"TrueFi becomes the latest protocol to launch on Optimism. Story by CT Business Editor @forgeforth_",badgeSlug:g,badgeName:ay,fullText:"

Unsecured lending protocol TrueFi has become the latest project to launch on Optimism, Ethereum’s popular layer-2 scaling solution, in a move that’s expected to boost demand from non-institutional lenders. 

By launching on Optimism, TrueFi’s lender community will have access to a faster and cheaper user experience, as well as gain exposure to a wider pool of retail lenders. “TrueFi users can now lend, borrow and launch portfolios on Optimism to enjoy dramatically reduced transaction costs and network speeds,” Rafael Cosman, co-founder of TrustToken, told Cointelegraph in a written statement. He further explained:

“Since Optimism transactions are on average 77x cheaper than Ethereum, we expect greater adoption from non-institutional lenders, hopefully increasing global access to TrueFi’s financial opportunities.”

TrueFi was built by stablecoin operator TrustToken and shipped to institutional clients in November 2020. In February, TrustToken launched a new lending marketplace on TrueFi designed to give financial institutions the ability to design and launch their own financial products.

Related: Balancer launches on Ethereum L2 network Optimism

There are currently over 40 protocols deployed on Optimism, a sign that more projects were looking to take advantage of improved functionalities such as higher scalability and lower fees. Optimism has been designed to support all decentralized applications running on Ethereum via Optimistic Rollups, a scaling solution that operates in tandem with Ethereum’s main chain.

TVL on Optimism appears to be bucking the general downtrend in DeFi. Source: DeFi Llama

With more projects deploying on Optimism, the chain’s total value locked, or TVL, has spiked over the past week. Currently, network TVL is over $369 million, which is an increase of nearly $100 million since May 29. Network TVL peaked in late April above $510 million.

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The long-awaited Responsible Financial Innovation Act to create a regulatory framework for digital assets was introduced in the United States Senate on Tuesday. The official text of the 69-page document was also released. 

The bipartisan bill, sponsored by Senators Cynthia Lummis of Wyoming and Kirsten Gillibrand of New York, “addresses CFTC and SEC jurisdiction, stablecoin regulation, banking, tax treatment of digital assets, and interagency coordination,” according to a statement. The statement continues, “Understanding that most digital assets are much more similar to commodities than securities, the bill gives the CFTC clear authority over applicable digital asset spot markets.”

The senators appeared on CNBC Tuesday morning, and a large part of the interview revolved around splitting responsibilities between the SEC and CFTC.

“We’re trying to just fit the digital asset world into our current regulatory framework. […] We spent a lot of time on the definition of the modern Howey test,” Lummis added. She said that she was meeting with SEC chairman Gary Gensler that day, and Gillibrand had met with him the day before. She added:

“We’re going to continue to work with both the CFTC and the SEC to make sure that we both have found the right mix of using the Howey test to sort out which of those agencies best can regulate. We think that, because we’re using the Howey test, it’s going to come out just fine.”

“It is our job fundamentally for Congress to write these laws and the regulators to implement them. They don’t decide what they get to keep and what they don’t,” Gillibrand said in that interview.

Gensler has been adamant in declaring most cryptocurrencies are securities subject to his agency’s authority.

Related: SEC chair uses crypto enforcement in justification for FY2023 budget

The CFTC, which is far smaller than the SEC, will be authorized to collect fees from entities engaged in cash or spot digital asset activities to finance its additional regulatory responsibilities.

The bill addresses a range of issues relating to crypto. It commissions a study on the environmental impact of digital assets, creates an advisory committee on innovation and orders the development of cybersecurity guidelines. It also creates a tax structure and mandates an analysis of the use of digital assets in retirement savings.

“It takes a long time to build a regulatory framework for a new industry,” Gillibrand said. The bill now has to pass through the Senate banking, agriculture, intelligence and financial services committees.

Blockchain Association executive director Kristin Smith said in a statement on the association’s website, “The bipartisan legislation announced today by Senators Lummis and Gillibrand represents a milestone moment for crypto policy and a major step forward for the crypto industry in Washington.”

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After rolling out the ability to buy and sell crypto on its platform in October 2020, PayPal is finally allowing users the ability to natively transfer, send and receive digital assets between PayPal and other wallets and exchanges. As of Tuesday, the feature is available to select U.S. users, with the feature expanding to all eligible U.S. users in the coming weeks. The first batch of supported coins consists of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). 

In addition, customers who transfer their crypto onto PayPal can spend it via Checkout at millions of merchant terminals. The company has been granted a full Bitlicense by the New York Department of Financial Services for the conduct.

Users would simply need to log in to their accounts and enter the crypto section of the application to start transferring transfer coins. Users are generally required to complete a one-time ID verification before the procedure.

Crypto transfers to recipients outside of PayPal would incur a network fee based on their respective blockchains, but transfers between PayPal users will not incur such fees. To protect users' privacy, the firm generates a new recipient address for each transaction into one's PayPal account. PayPal will also not charge fees for incoming transfers,

The company is also working to integrate other forms of cryptocurrency services, such as central bank digital currencies, to boost its digital footprint. It is also exploring the possibility of launching its own stablecoin, dubbed \"PayPal Coin .\" The discovery came after a developer found evidence of such a stablecoin within the source code of the company's iPhone app. 

\n\n",audio:"https://s3.cointelegraph.com/audio/87680.4214537c-e1a6-4d23-b076-674ee84aaf1f.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:1431,shares:hW,tags:[{id:X,slug:ji,title:ij,url:h_},{id:az,slug:"paypal",title:"PayPal",url:"/tags/paypal"},{id:Y,slug:kv,title:kw,url:kx},{id:hX,slug:ii,title:hY,url:fS},{id:"1283",slug:"fintech",title:"Fintech",url:"/tags/fintech"},{id:lw,slug:lx,title:ky,url:je}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87680regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:kz,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"aurora-pays-6m-bug-bounty-to-ethical-security-hacker-through-immunefi",url:xH,absoluteUrl:"https://cointelegraph.com/news/aurora-pays-6m-bug-bounty-to-ethical-security-hacker-through-immunefi",title:oc,youtubeVideoIdCover:d,cover:xI,datePublished:aI,dateHuman:xZ,humanDateTime:"2022-06-07 18:15",dateISOFull:"2022-06-07T17:15:00+01:00",publishedDateTimeObject:{year:D,month:x,day:E,hour:jc,minute:fR,second:e,millisecond:e},categorySlug:aq,categoryUrl:ar,categoryName:as,authorName:lH,authorUrl:lI,authorAvatar:xY,previewText:"Over $200 million worth of users' funds could have been at risk if the whitehat had chosen to exploit the vulnerability for personal gain instead of reporting it to developers. ",twitterLeadText:"Hats off to pwning.eth for alerting the potentially devastating exploit to developers instead of profiting for personal gain. ",badgeSlug:g,badgeName:ay,fullText:"

On Tuesday, Ethereum (ETH) bridging and scaling solution Aurora announced it had paid out a $6 million bounty to ethical security hacker pwning.eth, who discovered a critical vulnerability in the Aurora Engine. The exploit allegedly placed over $200 million worth of capital at risk. The sum was paid in collaboration with Immunefi, a leading platform for Web 3.0 bug bounties, with more than $145 million bounties available and over $45 million bounties paid out.

On April 26, Immunefi received a report from pwning.eth about a critical flaw in the Aurora Engine that would have enabled the infinite minting of ETH in the Aurora Ethereum Virtual Machine to drain and siphon the corresponding nested ETH (nETH) pool on NEAR. At the time of discovery, the pool contained more than 70,000 ETH, worth at least $200 million.

Mitchell Amador, founder and CEO at Immunefi, said: \"Hats off to Aurora and pwning.eth for the flawless overall processing of the report. The bug was quickly patched, with no user funds lost.\" Aurora had launched a bug bounty program with Immunefi just one week before discovering the security vulnerability. Meanwhile, Frank Braun, head of security at Aurora Labs, commented: \"We look at the bug bounty program as the last step in a layered defense approach and will use this bug as a learning opportunity to improve earlier steps, like internal reviews and external audits.

Though arguably innovative, cross-chain communication protocols have been a prime target of hackers as of late. In February, one of the largest decentralized finance hacks occurred when the Wormhole token bridge was drained of over $321 million in digital assets after hackers exploited an infinite minting glitch between its wrapped ETH and ETH pool. 

\n",audio:"https://s3.cointelegraph.com/audio/87665.c6aeb6cc-1827-4547-aa58-63551dcc947f.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:728,shares:aO,tags:[{id:X,slug:ji,title:ij,url:h_},{id:Y,slug:kv,title:kw,url:kx},{id:"436",slug:"security",title:"Security",url:"/tags/security"},{id:xn,slug:nW,title:av,url:lv},{id:"8417",slug:"hacks",title:"Hacks",url:"/tags/hacks"},{id:x_,slug:x$,title:lJ,url:lK}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=87665regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:jh,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"binance-fires-back-at-reuters-money-laundering-allegations",url:xJ,absoluteUrl:"https://cointelegraph.com/news/binance-fires-back-at-reuters-money-laundering-allegations",title:od,youtubeVideoIdCover:d,cover:xK,datePublished:aI,dateHuman:xZ,humanDateTime:"2022-06-07 17:30",dateISOFull:"2022-06-07T16:30:00+01:00",publishedDateTimeObject:{year:D,month:x,day:E,hour:lt,minute:hZ,second:e,millisecond:e},categorySlug:aq,categoryUrl:ar,categoryName:as,authorName:ol,authorUrl:om,authorAvatar:ya,previewText:"Binance wrote that the allegations made by the media outlet are created by interested parties to “mislead the general public.” ",twitterLeadText:"Binance urged people to ignore authors who \"cherry-pick data\" and feed into paranoia for fame. ",badgeSlug:g,badgeName:ay,fullText:"

Crypto exchange Binance published a lengthy response to an article published by Reuters that claims that the exchange has been a “hub for hackers, fraudsters and drug traffickers,” saying that there’s at least “$2.35 billion in illicit funds” laundered within the exchange. 

In a blog post, Binance addressed the issue and noted that the article’s allegations are not only untrue but are also attempts by certain interested parties to “mislead the general public” by spreading disinformation. Binance wrote:

“We highly suggest you ignore those authors and pundits who cherry-pick data, rely on conveniently unverifiable \"leaks\" from regulators, and feed into the cult of crypto paranoia for fame or financial gain. Instead, just look at the facts.”

The exchange also pointed out that traditional finance platforms are more tainted with illicit funds than crypto, which is transparent in nature. Moreover, the exchange cited statistics from the United Nations that 2%–5% of fiat money is associated with illicit activities.

Lastly, within the blog post, Binance published its email correspondence with Reuters. This includes Binance's complete responses to Reuter’s inquiries before it published the article that criticized Binance.

Related: Binance Labs’ $500M fund to catalyze crypto, Web3, blockchain adoption

On Monday, Reuters published a special report claiming that the Binance exchange is involved in money laundering involving illicit funds in the billion. From investment fraud and darknet dealings to weak Know Your Customer (KYC) and Anti-Money Laundering protections, the media outlet laid down its critique of the exchange.

Back in February, the exchange also faced an investigation from the United States Securities and Exchange Commission (SEC) over the exchange's relationship with market-making firms Sigma Chain AG and Merit Peak, which engage in the buying and selling of digital assets on the Binance.US exchange.

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Amid unfavorable market conditions, some cryptocurrency-related firms decided to cut their workforce or freeze hiring. However, crypto exchange platform FTX will continue hiring new personnel as the crypto winter continues. 

In a Twitter thread, FTX CEO Sam Bankman-Fried explained that the exchange will continue to “keep growing,” explaining that they will onboard new staff just as they have done on the market’s better days.

Bankman-Fried noted that in February the company slowed down hiring. However, he said that this is not due to a lack of funds. The move was done to make sure that team members can have enough time to properly mentor new employees before adding more.

13) A lot of reporters have reached out asking if we're going to be scaling back.

And our answer is the same as always:

We're going to keep pushing forward.

— SBF (@SBF_FTX) June 6, 2022 \n\n

Criticizing hypergrowth companies, Bankman-Fried underscored that hiring more staff quickly doesn’t equate to a substantial increase in productivity. “Sometimes, the more you hire, the less you get done,” he said. He explained that this is because rapid growth can make it very difficult to keep all staff “on the same page.”

Moreover, because FTX took its time and hired employees carefully since February, Bankman-Fried mentioned that the exchange can keep its hiring pace as it is “regardless of market conditions.”

Related: FTX reportedly shopping for brokerages in preparation for stock trading

At the start of June, crypto exchange Gemini laid off 10% of its employees. According to a notice from the exchange, the move was due to the current \"crypto winter.\" Apart from Gemini, Coinbase also decided to slow down hiring back in May.

Back in 2018, the industry witnessed larger layoffs as the market went down. Crypto miner manufacturer Bitmain and crypto exchange Huobi confirmed that they fired employees amid the 2018 bear market. Apart from the two, blockchain company Consensys reportedly dropped around 60% of its staff before announcing the hiring of 600 employees in 2022.

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Cronos, a blockchain ecosystem built by major crypto exchange Crypto.com, announced the launch of an accelerator program to fast-track advancements across the decentralized finance (DeFi), Web3 and Metaverse space, among others. 

Driving the initiative, the Cronos Accelerator Program is backed by $100 million to help crypto projects in the seed and pre-seed stages seeking mentorship, funding and growth. According to the announcement, projects shortlisted for the accelerator program will be matched with compatible mentors.

Some of the prominent investment partners backing the Cronos Accelerator Program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz and Dorahacks. Cronos plans to onboard other partners in the future. Providing further clarity into the program, Cronos managing director Ken Timsit added:

“In the current climate, it is more important than ever to put our heads down and start building aggressively.”

Timsit aims to enhance the potential of projects by providing end-to-end support across the project’s operations. As part of this initiative, Cronos' Web3 startup accelerator arm Cronos Labs conducts weekly workshops that cover various aspects of building crypto projects.

Aspiring projects get the opportunity to procure between $100,000–$300,000 seed investment in addition to having the option for additional grant funding. In addition to mentorship and other marketing initiatives, projects will be able to integrate into Crypto.com’s ecosystem including a DeFi wallet, crypto exchange and nonfungible token marketplace.

Related: Philippines to explore blockchain use cases, launches training program

The Department of Science and Technology (DOST) in the Philippines recently launched a training program for researchers to check the feasibility of blockchain technology within the healthcare, financial support and emergency aid industries.

Enrico Paringit, a DOST official, highlighted the department’s intent to “build non-cryptocurrency applications” and simultaneously produce blockchain development specialists for ramping up the government’s in-house initiatives.

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Another business jumps aboard the Bitcoin bandwagon. Octagon Networks, a global cybersecurity network company with over 20 employees announced on Monday that it had “finished the process of converting its liquid assets and entire balance sheet into Bitcoin (BTC).” 

The group will also “start accepting Bitcoin payments for all of our services, with a 50% discount when paid in Bitcoin.”

Today, Octagon Networks becomes the first cybersecurity company to convert it's entire balance sheet into #Bitcoin. We will also start accepting payments in Bitcoin, and offering a discount to encourage the use of Bitcoin.

Read More: https://t.co/32mcdlUEGu

— Octagon Networks (@OctagonNetworks) June 5, 2022 \n\n

Cointelegraph spoke to the Ethiopian cofounders of Octagon Networks, who preferred to remain anonymous. They explained that adopting Bitcoin was driven by a belief in Bitcoin and volition to support the network:

“We are large proponents and believers in Bitcoin. We believe in a truly decentralized form of money that can be transferred at the speed of light.”

They added that the “$25,000 area” could be the bottom of the bear market, while qualifying that the Bitcoin they have accumulated “doesn't affect our operating costs as everyone who works here is a sole believer in the mission of Bitcoin.”

The team stressed that — contrary to a commonly held belief that adopting Bitcoin is an attack on fiat currency — the group is proud of its Ethiopian roots and continues to use local currencies as well as Bitcoin:

“People are interpreting this as an attack on USD or ETB [Ethiopian birr]. It is neither. We use both daily for our day-to-day lives, our decision about Bitcoin is simply because we believe in the secure distributed network Bitcoin has created.”

Nonetheless, while the volatility of Bitcoin is too much for those in the western world to stomach, Octagon Networks explained that some of its employees choose Bitcoin as their preferred currency. Across Africa, several currencies — especially the CFA franc, a currency in use across 14 African nations — have lost purchasing power while leaving governments powerless.

Related: Why the rise of a Bitcoin standard could deter war-making

Moreover, Octagon Networks told Cointelegraph that within the cybersecurity industry, Bitcoin is well-respected. Over the past decade, Bitcoin has not been hacked, while the hash rate (effectively a network security metric) continues to reach new highs:

“From a cyber security perspective, it makes sense to bet on Bitcoin than anything else.”

Popular Bitcoin maximalists such as Cory Klippsten, founder of Swan Bitcoin, were quick to celebrate another company upgrading its business practices to a Bitcoin standard.

Let's go Octagon Networks! https://t.co/gjT5wggQBw

— Cory Klippsten (@coryklippsten) June 5, 2022 \n\n

The term “Bitcoin standard” refers to an individual, business or company adopting Bitcoin in a way that puts Bitcoin first. El Salvador, for example, was the first country to adopt a Bitcoin standard.

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0,"default","USD","EUR","GBP","JPY","RUR","KRW","TRY","CNY","_self",null,4,1,"0.00",3,1000000000,"1.00 b",6,"Language","22","en","1",50,2022,7,"EOS","NEO","0.00 ","2","6","19.08 m",100000000,"100.00 m","1.00","23","Note that all trading strategies are to be used at your own risk. Before trading, we recommend to make sure that you have a clear understanding of cryptocurrencies and how they are traded.","xxs","xs","sm","md","lg","41","es","11","72","27","26","kucoin-button",79,138,"56",48,"17","adbutler","Kucoin","https://www.kucoin.com/?utm_source=CTC-1","19","20","55","38","60","0.08","0.03","0.93","latest-news","/category/latest-news","Latest News","4","Bitcoin","Ethereum",5,"0.33","News","53",51,"7","52","34","40","70","0.05","article","2022-06-07","Cardano","Polkadot","Solana","Avalanche","cointelegraph.com",10,"https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=7376af3992","https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=aad9f6b505","/bitcoin-cash-price-index","/ltc-price-index","/xrp-price-index","/xmr-price-index","_blank","18","24","29","37","35","57","61","0.38","Market Analysis","en.LanguageType.1","tr",47,"BTC","\n\n\n ","/bitcoin-price","ETH","\n\n\n\n\n\n\n\n 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\n","/etc-price-index","XTZ","Tezos","\n\n\n\n\n\n\n \n\n \n","/xtz-price-index","XEM","NEM","\n\n\n\n \n","/nem-price-index","USDC","USD Coin","\n\n\n ","/usdc-price-index","28","CRO","Cronos","\n\n\n\n ","/cronos-cro-price-index","ATOM","Cosmos","\n\n\n\n\n\n\n\n \n","/cosmos-price-index","30","LEO","UNUS SED LEO","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n \n","/leo-price-index","54","UNI","Uniswap","\n\n\n\n \n\n\n\n\n \n\n \n","/uniswap-price-index","YFI","Yearn.finance","\n\n\n\n\n \n","/yearn-finance-price-index","33","MATIC","Polygon","\n\n\n \n","/polygon-price-index","BAND","Band Protocol","\n\n\n \n","/band-protocol-price-index","LINK","Chainlink","\n\n\n \n","/chainlink-price-index","DOT","\n\n \n","/polkadot-price-index","39","COMP","Compound","\n\n\n \n","/compound-price-index","AAVE","Aave","\n\n\n\n\n\n\n \n\n \n","/aave-price-index","SUSHI","SushiSwap","\n\n\n \n\n\n\n\n\n \n\n\n\n\n\n \n\n \n","/sushiswap-price-index","SNX","Synthetix","\n\n\n \n","/synthetix-price-index","CAKE","PancakeSwap","\n\n\n\n \n\n\n\n\n \n\n \n","/pancakeswap-price-index","LUNA2","Terra","\n\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n \n\n","/terra-price-index","58","VET","VeChain","\n\n ","/vechain-price-index","36","AVAX","\n\n\n \n","/avalanche-price-index","SAND","The Sandbox","\n\n\n\n\n\n\n \n\n ","/the-sandbox-sand-price-index","MANA","Decentraland","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n ","/decentraland-mana-price-index","62","AXS","Axie Infinity","\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n \n\n ","/axie-infinity-axs-price-index","63","DAI","Dai","\n\n\n\n \n\n\n\n \n\n","/dai-price-index","65","FTT","FTX Token","\n\n\n\n\n\n\n ","/ftx-token-ftt-price-index","64","NEAR","Near Protocol","\n\n\n ","/near-protocol-price-index","68","FTM","Fantom","\n\n\n ","/fantom-ftm-price-index","69","ALGO","Algorand","\n\n\n 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