UAE Ministry of Economy Enters The Metaverse, Binance Launches ETH PoW Mining, ADA Trading in Japan BitBank

Written by Crypto University

September 30, 2022

UAE Ministry of Economy Enters The Metaverse

The UAE Ministry of Economy announced that they are entering the metaverse. They unveiled their new headquarters in the metaverse, complimentary of their actual planet earth location. The ministry hopes to provide its full portfolio of services to more users in the virtual world.

“With advanced physical and digital infrastructure, highly-skilled talent, and pro-business laws, the UAE has the competitive advantages to become one of the world’s top 10 metaverse economies and a global hub for investments in this field,” said Abdulla bin Touq, Minister of Economy.

The ministry plans to provide services in the metaverse aspect and reskill the whole team about working in virtual reality. They also plan to replace our website. Rather than having a 2D website, they want to have an immersive 3D metaverse where people can go in and interact with other people. The metaverse is the virtual space where people, represented by avatars or three-dimensional representations, can interact.

Binance Launches ETH PoW Mining Pool

Binance, the largest cryptocurrency exchange worldwide, has announced the launch of an ETH PoW mining pool. That is a response to the ETH PoW community who felt left behind after Ethereum transitioned to proof of stake during the Merge. 

Binance Pool has officially launched the Ethereum Proof-of-Work (ETHW) mining service. During the promotion period, all users of the ETHW Pool will enjoy zero pool fees for ETHW mining,” said Binance in an official announcement. 

Binance has chosen to waive all pool fees for ETHW mining for all of its ETHW Pool users. You should note that the $0 pool charge deal is only valid for one month until October 29th. This deal would expire after the campaign period. Furthermore, Binance clarified that the most recent news does not reflect the listing of ETHW.

ADA Trading in Japan Bitbank

Bitbank, a Tokyo-based cryptocurrency trading platform, has announced that they will be listing Cardano (ADA) soon. According to their announcement, the ADA/JPY pair will be ready for trade on the exchange in early October. Last month Bitbank extended support for Dogecoin (DOGE) and Polkadot (DOT). 

Cardano is said to be the “Japanese Ethereum.” This is because the Cardano initial coin offering (ICO) was primarily targeted at the Japanese market. People believe that 90% of ADA’s ICO purchasers were Japanese.

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