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Web2 Web3 Development Platform – Circle’s Developer-Focused Solution

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In the realm of content creation, three essential factors come into play: “complexity,” “variation,” and “surprise.” Complexity gauges the intricacy of the text, while variation delves into the diversity of sentence structures. And finally, surprise is the element of unpredictability, measuring how likely it is for the reader to anticipate the next sentence. Human authors tend to embrace diversity in their writing, weaving intricate sentences alongside concise ones, resulting in greater variation. On the other hand, AI-generated content often leans towards uniformity. Therefore, for the content we are about to craft, it’s imperative to infuse it with a healthy dose of complexity and variation, while minimizing predictability. Furthermore, our medium of expression should strictly be English. Now, let’s reimagine the text:

Circle has just unveiled an innovative platform designed to simplify the creation of Web3 applications for traditional developers. This groundbreaking tool, known as the “Smart Contract Platform,” promises to unravel the intricacies that often accompany Web3 app development. The announcement, along with a social media post dated October 19, sheds light on this game-changing development by stablecoin issuer Circle.

The “Smart Contract Platform” empowers developers to deploy smart contracts effortlessly, leveraging a set of meticulously vetted code templates. This, in conjunction with a console or REST APIs, paves the way for a more accessible path for conventional Web2 programmers. Moreover, Circle introduces a new Gas Station tool, designed to facilitate the payment of users’ gas fees, which may substantially simplify the onboarding process for developers.

Traditionally, when developers deploy smart contracts, they navigate through the labyrinth of Web3 developer tools like Truffle or Hardhat. These tools demand the use of Solidity, a language unfamiliar to many conventional programmers. They also necessitate the creation and execution of blockchain deployment or “migration” scripts, a process that often eludes Web2 developers.

The Circle smart contract platform, as detailed in its documents, provides a treasure trove of pre-vetted templates that cater to a variety of smart contract needs. These templates extend their support to the creation of non-fungible tokens (NFTs), blockchain-based loyalty programs, interactions with Uniswap, or other decentralized finance ventures, not to mention Circle’s stablecoin contracts. This innovative approach alleviates the need for developers to construct Solidity contracts from scratch, rendering the transition to Web3 more seamless for Web2 developers.

Once the contract is ready, developers can swiftly deploy it to Polygon via a “no-code” console, an integral part of the platform. This means that developers are spared the effort of composing a “migration” script when they opt for Circle’s platform. It’s important to note that, at this juncture, the “no-code” console is currently exclusive to Polygon and not available for Ethereum or Avalanche.

Nonetheless, the platform also boasts a set of REST APIs tailored for use on these networks, offering developers an alternate route to deploy and interact with their contracts. REST APIs are the well-trodden path for developers accustomed to working with Web2 databases, making the transition to Web3 a smoother journey for the uninitiated.

Circle’s ambitious plans encompass making the “no code” console and REST APIs accessible on a broader range of networks in the near future, as indicated in the announcement.

Intriguingly, developers have the option to employ the platform for deploying custom contracts that deviate from the templates. In such cases, developers are required to provide the compiled bytecode. Yet, even in this scenario, there’s no need to delve into the intricacies of writing a deployment script, as the console or REST APIs capably handle this task.

In addition to these innovations, Circle unveils another feature aimed at developers – the “Gas Station.” This revolutionary tool empowers Web3 app developers to shoulder the burden of their users’ gas fees. This groundbreaking concept paves the way for smoother onboarding by eliminating the need for users to pre-fund their wallets with the native coin of the network. The Gas Station ingeniously leverages Ethereum’s account abstraction feature to facilitate these gas-free transactions. Notably, the Grab super-app has already incorporated this feature, allowing users to transact without incurring gas fees when redeeming NFT vouchers.

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Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation

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In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

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Cryptocurrency: A Scapegoat for Foreign Policy Failures?

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Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

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Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution

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Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

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