Showing posts with label Cryptocurrency. Show all posts
Showing posts with label Cryptocurrency. Show all posts

Saturday, December 11, 2021

State government to allow businesses to pay state fees with cryptocurrencies like Bitcoin

 




Florida Governor Ron DeSantis has officially proposed the state government to allow businesses to pay state fees with cryptocurrencies like Bitcoin (BTC).

The Republican governor announced the idea as part of his 2022–2023 budget proposal, released on Dec. 9.

According to the official budget highlights, DeSantis proposed to provide $200,000 to the Department of Financial Services to offer Florida corporations the ability to “pay state fees via cryptocurrency directly to the Department of State.”

“Florida encourages cryptocurrency as a means of commerce and furthering Florida’s attractiveness to businesses and economic growth,” the document reads.

DeSantis additionally proposed allocating another $500,000 to explore the potential of blockchain technology to maintain motor vehicle records as well as authenticate Medicaid transactions and detect potential fraud.

The overall $700,000 proposal is dedicated to enabling a crypto-friendly Florida, the budget proposal reads.

Florida has been steadily emerging as a major cryptocurrency-friendly jurisdiction in the United States as one of its major cities, Miami, is being actively promoted as the “world's Bitcoin and crypto capital.”

Last month, Miami Mayor Francis Suarez announced that he aimed to be the first U.S. lawmaker to accept part of his paycheck in Bitcoin. The official reportedly owns both BTC and Ether (ETH).

In September, Miami’s city commissioners voted to accept funds generated by the new MiamiCoin cryptocurrency, which was launched by the smart contracts protocol CityCoins in August. Having generated more than $21 million in yields as of mid-November, MiamiCoin will be available to all Miami residents in the form of a Bitcoin dividend, according to the city mayor.

#ethereummining #bitcoingermany
#antminers #cryptocurrencyexchange
#investinbitcoin #cryptomoney
#tradelifestyle #dashcoin
#binancetrading #wallstreet
#bitcoinnews #cryptomarket
#bitcointrading #bitcoincash
#bitcoininfo #altcoininvesting
#bitcoinuk #blockchainconference
#bitcoinmining

1.15 million ETH has been burned since the London hard fork upgrade.

According to IntoTheBlock data, 1.15 million ETH has been burned since the London hard fork upgrade. Nearly four months after the London upgrade, 1.15 million ETH in base fees, worth over $4.7 billion at ETH's current price, has been "burned" and permanently removed from the circulating supply.




The London upgrade, which includes Ethereum Improvement Proposal (EIP) 1559, which aims to change the means of estimating transaction fees, or "gas fees," went live on Aug. 5, 2021. Two kinds of fees make up the Ethereum transaction fee, which is the base fee and the priority fee. The base fee is a set amount that a user must pay in order for their transaction to be included in a block, whereas the priority fee, or tip, is optional and can be included to encourage miners to prioritize the transaction.

Depending on the level of demand in the preceding block, the fee market upgrade in EIP 1559 implemented a 12.5% base fee increase or decrease per block.

According to on-chain analytics IntoTheBlock, the ''base fee'' is been burned with an average of 11,500 ETH being burned daily. This results in a cumulative amount of 1.15 million ETH tokens since the inception of the London hard fork upgrade.

The excitement ahead of the London hard fork upgrade pushed ETH's price to highs of $2,845 on Aug. 5, the day of the launch. Since then, the ETH price has remained in an ascending channel, peaking at all-time highs of $4,867 on Nov. 10.

Almost four months after the launch, ETH is up nearly 45% at the present price of $4,163. As of press time, Ethereum's market capitalization sits at $486.7 billion, according to CoinMarketCap data.

#ethereummining #cryptocurrencymarket
#antminers #bitmex
#bitcoinaustralia #bitcoinminning
#bitcoin #cryptocurrencyinvestments
#zcash #poloniex
#bitcoinnews #xlm
#altcoin #bitcoins
#cryptoeducation #bitcoinminers
#bitcoinbrasil #cryptomonedas
#investorsclub