Features TheBitTimes.com

The Central Bank of Nigeria has issued an official statement in response to reports circulating on various media platforms. These reports suggested that the eNaira, Nigeria’s pioneering central bank digital currency (CBDC), posed a potential threat to the nation’s financial stability . The statement, dated October 9, comes as a direct response to these media claims. It underscores the Central Bank of Nigeria’s unequivocal stance that the eNaira project is in no way a peril to the country’s financial stability. A particular news piece, published in Nigeria’s daily newspaper, “Punch,” references the Central Bank’s recently published report, titled “Economics of Digital Currencies: A Book of Readings.” The report from the Central Bank of Nigeria’s experts emphasizes the gradual ascent of eNaira adoption. They note that it presently accounts for a mere 0.2% share when compared to the liquidity of Nigerian banks. It’s...

Polygon proposed building a dedicated layer 2 network for ApeCoin on the ApeCoin DAO forum on Oct. 10. According to the proposal, the new network, dubbed “ApeChain”, will leverage zero-knowledge technology to offer fast, cheap, and secure transactions for ApeCoin and its ecosystem. ApeChain will be developed and maintained by an implementation partner with expertise in web3 infrastructure and tooling products. The proposal also suggests collaborating with Polygon Labs, the innovation arm of Polygon, to access its resources and network. The proposal also includes creating a development fund of $3.35 million from the ApeCoin DAO treasury to support the growth of APE-related projects, such as experiences, entertainment, games, and consumer applications. The development fund will also be used for public goods beneficial for ApeChain, such as middleware and marketplaces. You might also like: Circle incorporates USDC on Polygon The initiative highlights the potential...