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The world’s largest cryptocurrency and blockchain festival, ETHDenver, launched its first day of main events on Thursday at the National Western Complex in Denver. The festival, in its sixth year, has broken registration records with over 30,000 people registering, from over 110 countries. The event is a four-day gathering of cryptocurrency enthusiasts, company owners, and leaders in the blockchain world who network, interact, and learn about cutting-edge ideas for building blockchain products and services.

Colorado’s Push for a Crypto-Friendly Environment

Colorado is the home base for ETHDenver each year, and Governor Jared Polis is an active supporter of a crypto-friendly environment. Governor Polis has pushed for more blockchain businesses and leaders to come to the state, and Colorado was the first state in the nation to accept cryptocurrency as payment for state taxes, starting in September 2022. So far, the Department of Revenue has received only 11 payments using cryptocurrency, totaling about $20,000. However, as the state becomes more flexible with the various ways cryptocurrencies can be sent to the state, this figure is expected to increase.

The Increasing Interest in Cryptocurrency

Cryptocurrency has become increasingly popular in recent years, with more and more people becoming interested in the crypto space. The infrastructure that supports cryptocurrency is blockchain, a decentralized online ledger. The interest in cryptocurrency has attracted a diverse crowd to ETHDenver, with over 30% of participants from Colorado, and the event is expected to generate between $30 million and $50 million for the local economy.

The Future of Blockchain Technology

ETHDenver is a platform for exploring the future of blockchain technology, and the festival features talks, workshops, and panel discussions on a wide range of topics related to blockchain and cryptocurrency. This year’s festival has attracted a higher volume of people who are “crypto-curious,” interested in learning more about cryptocurrency and blockchain technology but not yet sure where they fit in. John Paller, ETHDenver’s founder, said, “This is part of the reason why we don’t charge for people to come.” The festival aims to educate and inspire attendees to build more blockchain products and services, driving innovation and growth in the industry.

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