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Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space.

The European DeFi Boom

Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value received by other regions, including 34% of the value received in North America.

This makes the EU the most concentrated in the world in terms of cryptocurrency trading volume. This is partially due to increases in all forms of trading activity over the past year, coming mostly from institutional investors.

Large institutional transaction value grew from $1.4B in July 2020 to $46.3B in June 2021, coming to take up half of all CNWE trading activity. The most pronounced increases were seen on DeFi protocols, where over 80% of these large institutional transactions were sent in June.

The impact of DeFi is further established when ranking coins in terms of transaction activity in the region. Despite being the largest cryptocurrency by market cap, Bitcoin heavily trails Ethereum in transaction volume among large institutional investors. Additionally, DeFi protocols took up a majority share of funds received by cryptocurrency services in CNWE in June 2021.

The Decline in Eastern Asia

CNWE has seen significant absolute increases in its crypto trading volume. However, its new place as the world’s largest trading hub is partly due to a sharp decline in market share held by Eastern Asia– the previous world leader.

In early 2019 the region held over 30% of global transaction volume. This figure has since fallen sharply to about 15% – less than CNWE, North America, and even Central and Southern Asia.

This may be related to China’s continued push to prevent and discourage crypto trading within its borders. China re-announced their ban on crypto trading in the country days ago, and have been moving to prevent all access to exchanges within the country.

error in remix IDE

I am facing this type of Error in ‘remix IDE’ while connecting it to ‘web3.js@0.20.2’ Error: Failed to decode output: Error: insufficient data for uint256 type (arg=””, coderType=”uint256″, value=”0x00″) <!DOCTYPE html> <head> <meta charset=”UTF-8″> <meta name=”viewport” content=”width=device-width, initial-scale=1.0″> <meta http-equiv=”X-UA-Compatible” content=”ie=edge”> <script src=”./node_modules/web3/dist/web3.min.js”> </script> </head> <body> <input id=”name” name=”choice” type=”text”> Vote: </input> <button id=”button”>Submit :::Listen

I am facing this type of Error in ‘remix IDE’ while connecting it to ‘web3.js@0.20.2’

Error: Failed to decode output: Error: insufficient data for uint256 type (arg=””, coderType=”uint256″, value=”0x00″)

<!DOCTYPE html> <head>         <meta charset="UTF-8">         <meta name="viewport" content="width=device-width, initial-scale=1.0">         <meta http-equiv="X-UA-Compatible" content="ie=edge">     <script src="./node_modules/web3/dist/web3.min.js">     </script> </head>  <body> <input id="name" name="choice" type="text"> Vote: </input> <button id="button">Submit : </button> <h2 id="instructor"></h2> </body> <script src="https://code.jquery.com/jquery-3.2.1.slim.min.js"></script> <script>      if (typeof web3 !== 'undefined') {         web3 = new Web3(web3.currentProvider);     } else {         // set the provider you want from Web3.providers         web3 = new Web3(new Web3.providers.HttpProvider("http://localhost:8545"));     }  // Previous if/else statement removed for brevity  web3.eth.defaultAccount = web3.eth.accounts[0]; console.log(web3.version) var vote= web3.eth.contract([     {         "constant": false,         "inputs": [             {                 "name": "x",                 "type": "uint256"             }         ],         "name": "set",         "outputs": [],         "payable": false,         "stateMutability": "nonpayable",         "type": "function"     },     {         "constant": true,         "inputs": [],         "name": "get",         "outputs": [             {                 "name": "",                 "type": "uint256"             },             {                 "name": "",                 "type": "uint256"             }         ],         "payable": false,         "stateMutability": "view",         "type": "function"     } ]);  vote_add=vote.at('0x6b3c179a96c329dcf93f2d27310c77e88e651af6');  console.log(vote_add); $("#button").click(function() {             vote_add.set($("#name").val());         });  vote_add.get(function(error, result){             if(!error)                 {                     $("#instructor").html(result[0]+' ('+result[1]+' years old)'+result[2]+result[3]+result[4]+result[5]);                     console.log(result);                 }             else                 console.log(error);         }); </script> </html> 

Solidity code:-

pragma solidity ^0.5.0; contract vote {     uint public c0=0;     uint public c1=0;     uint public c2=0;     uint public c3=0;     uint public c4=0;     uint public c5=0;     function set(uint x) public {         if(x==0)         {             c0+=1;         }         else if(x==1)         {             c1+=1;         }         else if(x==2)         {             c2+=1;         }         else if(x==3)         {             c3+=1;         }         else if(x==4)         {             c4+=1;         }         else if(x==5)         {             c5+=1;         }         else         {          }     }     function get() public view returns(uint,uint,uint,uint,uint,uint)     {         return (c0,c1,c2,c3,c4,c5);     } } 

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Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

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