Daily Crypto NewsEDITION #362, 02 December 2021

Square + Block = Meta?

Hey Moni Maker 🧱

Today the whole world celebrates Abolition Day. Yes, the iron shackles of humanity have been removed, replaced by uncomfortably tight suits and credit commitments to the bank in front of the house. And while there used to be few exits from this rut, crypto now literally gives them to those willing to work hard, learn and grow. 

Digest keeps a close eye on the info field to bring you the best news. Let's go!

Square has announced it is renamed itself Block in an apparent reference to blockchain—the technology that undergirds Bitcoin.

Not that the company is expressly stating that. Block, it says, "creates room for further growth."

“We built the Square brand for our Seller business, which is where it belongs,” said Dorsey in a press release today. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”

What is Polynomial? How does it deal with high gas? What's about the testnet? 

We take you to Gems here! 

Chinese cybersecurity giant Qihoo 360 said in a WeChat post on Tuesday that it has built a system to monitor crypto mining operations, which will assist the government’s crackdown on the industry.

The monitoring system is aimed at government agencies and companies that want to comply with China’s latest crackdown on crypto mining. The software can provide miners’ IP address, geographical location, network type, connection frequency, and suggest methods of how to dispose of them, Qihoo 360 said.

So what? 

Methods of how to dispose of them?! Throw a video card to a miner to get him out of the house and there to tie him up...?  

David Marcus, the head of Meta’s cryptocurrency and fintech unit Novi, will step down from his role by the end of 2021.

Taking over from Marcus will be Stephane Kasriel, the former CEO of Upwork who has been at Meta, formerly known as Facebook, since August 2020.

Press: Will Avalanche catch up with Solana? ETH - the dad's in the building! Where to throw the stables? Digest thrown in! 

Let's read it!

Burned tokens – Projects can burn tokens to take them out of circulation. By reducing their circulation, the price goes up. Deflation, the whole thing.

And more you can find in our Glossary!

And you...buy Bitcoin! (it's a good time!)