blockchain

In today's fast-paced and ever-changing economic landscape, staying informed about the latest market developments is crucial for both seasoned investors and those just venturing into the world of finance. Within a matter of hours, events can unfold that turn global markets upside down and shape the course of investment decisions. Therefore, keeping abreast of key economic and financial news is essential for making informed investment choices. In this article, we will delve into the most significant events and insights in the realms of finance, technology, and investments that have dominated the landscape in recent times. We'll explore why Instacart, a popular grocery delivery platform, has chosen to lower its valuation ahead of its planned initial public offering (IPO), how Meta (formerly Facebook) is actively developing a potent artificial intelligence (AI) system, and what the surge in earnings estimates means for the potential market rally in 2023. We'll also delve int

What is Metaverse Powered By? It's Not Only About Blockchain

What is Metaverse Powered By? It's Not Only About Blockchain

Binance Academy Binance Academy 02.02.2022 08:17
TL;DR The metaverse is a concept of a 3D digital world. It consists of virtual spaces that you can explore using an avatar you create. In the metaverse, you can play games, go shopping, hang out with friends at a virtual coffee shop, work with your colleagues in a virtual office, and much more. Some video games and work socialization tools have already implemented certain metaverse elements into their ecosystems. Cryptocurrency projects like Decentraland and The Sandbox already have their digital world up and running. However, the metaverse concept is relatively new, so most of its functionalities are still under development. Companies like Facebook (now Meta), Microsoft, and Nvidia have also started creating their versions of the metaverse. To offer an immersive metaverse virtual experience, tech companies are incorporating cutting-edge technologies to power the 3D world’s development. Such technologies include blockchain, augmented reality (AR) and virtual reality (VR), 3D reconstruction, artificial intelligence (AI), and the Internet of things (IoT).   Learn more on Binance.com Introduction The idea of a metaverse originated from Neal Stephenson in 1992. His science fiction novel Snow Crash envisioned an online world where people could use digital avatars to explore and escape from the real world. Decades later, big technology companies have started to build their own versions of a futuristic metaverse. What is the metaverse, and how are big companies approaching it on the technology front?     What is the metaverse? The metaverse is a concept of an online 3D digital world with virtual land and objects. Imagine a world in which you can work remotely, visit virtual museums to see the latest artworks, or join your fellow rock band fans at a virtual concert, all from the comfort of your home. Axie Infinity, The Sandbox, Decentraland have already incorporated certain aspects of the metaverse to bring multiple elements of our lives into online worlds. However, the metaverse is still under development. No one knows whether there will be just one big all-encompassing metaverse or multiple metaverses that you can travel around.  As the idea continues to develop, it’s expected to expand beyond video games and social media platforms. Remote working, decentralized governance, and digital identity are just some of the potential features the metaverse can support. It can also become more multi-dimensional via connected VR headsets and glasses, so users can actually walk around physically to explore the 3D spaces.   The latest development of the metaverse With Facebook changing its name to Meta in October 2021, the metaverse became the new favorite buzzword. To cater for its rebranding, the social media giant poured resources into a new division called Reality Labs to spend at least 10 billion dollars in 2021. The idea is to develop metaverse content, software, as well as AR and VR headsets, as CEO Mark Zuckerberg believes will be as widespread as smartphones in the future. The COVID-19 pandemic has also accelerated the interest in developing metaverses. There is an increased demand for more interactive ways to connect with others as more people have started working remotely. Virtual 3D spaces that let coworkers join meetings, catch up, and collaborate are on the rise. The Microsoft Mesh unveiled in November 2021 is an example. It features immersive spaces for users to mingle and collaborate using their avatars, making remote team meetings more engaging and fun. Some online games are embracing the metaverse as well. The AR mobile game Pokémon Go was among the first to tap into the concept by allowing players to hunt virtual Pokémons in the real world using a smartphone app. Fortnite, another popular game, has expanded its product to different activities inside its digital world, including hosting brand events and concerts.  Apart from social media and gaming platforms, tech companies like Nvidia have opened new opportunities in virtual worlds. Nvidia Omniverse is an open platform designed to connect 3D spaces into a shared universe to facilitate virtual collaboration between engineers, designers, and creators. It's currently being used across different industries. For instance, the BMW Group is using the Omniverse to reduce production time and improve product quality by smart manufacturing.   Key technologies that power the metaverse To make the metaverse experience more immersive, companies are using cutting-edge technologies like blockchain, augmented reality (AR) and virtual reality (VR), 3D reconstruction, artificial intelligence (AI), and the Internet of things (IoT) to power the 3D world.   Blockchain and cryptocurrency Blockchain technology provides a decentralized and transparent solution for digital proof of ownership, digital collectibility, transfer of value, governance, accessibility, and interoperability. Cryptocurrencies enable users to transfer value while they work and socialize in the 3D digital world.  For example, crypto can be used to buy virtual lands in Decentraland. Players can purchase 16x16 meter land parcels in the form of non-fungible tokens (NFTs) with the game’s cryptocurrency MANA. With the support of blockchain technology, the ownership of these virtual lands can be established and secured. In the future, crypto can potentially incentivize people to actually work in the metaverse. As more companies take their offices online for remote working, we might see metaverse-related jobs being offered. For a more in-depth exploration of these areas, check out What Is the Metaverse?.    Augmented reality (AR) and virtual reality (VR) Augmented reality (AR) and virtual reality (VR) can give us an immersive and engaging 3D experience. These are our entry points to the virtual world. But what’s the difference between AR and VR? AR uses digital visual elements and characters to morph the real world. It’s more accessible than VR and can be used on almost any smartphone or digital device with a camera. Through AR applications, users can view their surroundings with interactive digital visuals, similar to what we have in the mobile game Pokémon GO. When players open the camera on their phones, they can see Pokémons in the real-world environment. VR works differently. Much like the metaverse concept, it produces an entirely computer-generated virtual environment. Users can then explore it using VR headsets, gloves, and sensors. The way AR and VR work shows an early model of the metaverse. VR is already creating a digital world that incorporates fictional visual content. As its technology becomes more mature, VR can expand the metaverse experience to involve physical simulations with VR equipment. Users will be able to feel, hear and interact with people from other parts of the world. Considering the hype around the metaverse, we can expect more metaverse companies to invest in AR and VR equipment development in the near future.   Artificial intelligence (AI) Artificial intelligence (AI) has been widely applied in our lives in recent years: business strategy planning, decision making, facial recognition, faster computing, and more. More recently, AI experts have been studying the possibilities of applying AI to the creation of immersive metaverses.  AI has the potential to process a lot of data at lightning speed. Combined with machine learning techniques, AI algorithms can learn from previous iterations, taking into account historical data to come up with unique outputs and insights.  Within the metaverse, AI can be applied to the non-player characters (NPCs) in different scenarios. NPCs exist in almost every game; they are a part of the gaming environment designed to react and respond to players’ actions. With AI’s processing abilities, NPCs can be placed across the 3D spaces to facilitate lifelike conversations with users or perform other specific tasks. Unlike a human user, an AI NPC can run on its own and be used by millions of players at the same time. It can also work in several different languages. Another potential application for AI is in the creation of metaverse avatars. AI engines can be used to analyze 2D images or 3D scans to generate avatars that look more realistic and accurate. To make the process more dynamic, AI can also be used to create different facial expressions, hairstyles, clothes, and features to enhance the digital humans we create.   3D reconstruction While this is not new technology, the use of 3D reconstruction has been rising during the pandemic, especially in the real estate industry, as lockdowns prevented potential buyers from visiting properties in person. Therefore, some agencies adopted 3D reconstruction technology to generate virtual property tours. Much like the metaverse we imagined, buyers could look around potential new homes from anywhere and make purchases without even having stepped foot inside. One of the challenges for the metaverse is to create a digital environment that appears as close to our real world as possible. With the help of 3D reconstruction, it can create realistic and natural-looking spaces. Through special 3D cameras, we can take our world online by rendering accurate 3D photorealistic models of buildings, physical locations, and objects. The 3D spatial data and 4K HD photography are then passed to computers to process and generate a virtual replica in the metaverse for users to experience. These virtual replicas of physical world objects can also be referred to as digital twins.   Internet of things (IoT) The concept of the Internet of things (IoT) was first introduced in 1999. Simply put, IoT is a system that takes everything in our physical world and connects them to the Internet through sensors and devices. After connecting to the Internet, these devices will have a unique identifier and the ability to send or receive information automatically. Today, IoT is connecting thermostats, voice-activated speakers, medical devices, and much more to a wide range of data. One of the applications of IoT on the metaverse is to collect and provide data from the physical world. This would increase the accuracy of the digital representations. For example, IoT data feeds could change the way certain metaverse objects function based on the current weather or other conditions.  Implementing IoT can seamlessly connect the 3D world to a large number of real-life devices. This enables the creation of real-time simulations in the metaverse. To further optimize the metaverse environment, IoT could also use AI and machine learning to manage the data it collects.   Challenges of the metaverse The metaverse is still in its early stages of development. Some challenges include identity authentication and privacy control. In the real world, it's often not difficult to identify someone. But as people traverse the digital world in their avatars, it will be difficult to tell or prove who the other person is. For example, malicious actors or even bots could enter the metaverse pretending to be someone else. They could then use this to damage their reputation or to scam other users. Another challenge is privacy. The metaverse relies on AR and VR devices to offer an immersive experience. These technologies with camera capabilities and unique identifiers could eventually lead to undesirable leaks of personal information.     Closing thoughts While the metaverse is still under development, many companies are already exploring its potential. In the crypto space, Decentraland and The Sandbox are notable projects, but big companies like Microsoft, Nvidia, and Facebook are also getting involved. As AR, VR, and AI technologies advance, we will likely see exciting new features in these virtual, borderless worlds.
Tezos (XTZ) - Project We All Should Know

Tezos (XTZ) - Project We All Should Know

Binance Academy Binance Academy 11.02.2022 09:18
TL;DR Tezos is a blockchain project that stands out due to its built-in mechanisms for upgrading the network. Changes to the Tezos blockchain are code proposals made by people who own a certain amount of XTZ, which are then voted on by peers. Because Tezos is self-amending, there is never any need for any of that pesky hard forking business.  Learn more on Binance.com Introduction Smart contract platforms make up one of the most crowded and competitive sectors in the crypto industry. While solving the current technological problems is crucial for the space to mature, there are many different approaches to fulfill the high demand for base-layer smart contract infrastructure. Useful for decentralized finance applications and digital asset management, Tezos, with its associated XTZ token, is one of the prominent players in this sector.   What is Tezos (XTZ)? Tezos is a blockchain built to support and run smart contracts. Initially designed in 2014, the Tezos mainnet went live in 2018 and has gone on to achieve moderate success as a rival to the Ethereum network. Tezos is overseen by The Tezos Foundation, a Swiss entity that is responsible for promotion, grants, strategic partnerships, and other activities that raise awareness of the Tezos ecosystem. Developed initially by Arthur Breitman alongside his wife, Kathleen Breitman, the project suffered various delays thanks to a dispute between them and Tezos Foundation president Johann Gevers. After the rocky start, however, Tezos successfully launched and survived the bear market. Tezos conducted an Initial Coin Offering (ICO) in July 2017, raising $232 million. This makes it one of the largest ICOs ever.   How Tezos (XTZ) works Tezos operates like many of its blockchain competitors, as a platform for creating and running decentralized applications (DApps), as well as exchanging assets. Smart contracts on Tezos are written in the Michelson programming language, designed specifically for the protocol. To perform transactions on the network, you use gas, which is converted into fees in the Tezos cryptocurrency, XTZ. Tezos is a Proof of Stake (PoS) blockchain. Technically, it uses a variant of PoS called Delegated Proof of Stake (DPoS), although the implementation is unique to Tezos.  Participants who hold over 8,000 Tezos can become delegates and run the network through baking and endorsing. Baking means creating new blocks (essentially another word for staking), while endorsing means “agreeing” on a block created by a baker. Alternatively, if a token holder doesn’t have 8,000 XTZ or doesn’t want to set up the required hardware themselves, they can delegate these tasks to someone else.   Why Tezos (XTZ) is important Tezos has a few key differences from the other smart contract platforms in the blockchain space. Tezos uses self-amendment, which allows for network upgrades without having to fork into two different blockchains. Think of what happened with Bitcoin’s famous hard fork, Bitcoin Cash. Tezos aims to prevent these scenarios. Because of self-amendment, Tezos is easily adaptable to the ever-changing regulatory and technological landscape. While Ethereum 2.0 is a big leap for Ethereum, it requires spinning up what is essentially a new and separate blockchain. Tezos, however, should be able to make amendments and continue without much disruption in cases like this.   Tezos (XTZ) governance Changes to Tezos follow an on-chain governance model. Changes to the blockchain are submitted by delegates through code updates. Stakeholders can then vote on whether they approve or deny the changes. Thanks to this on-chain governance model, radical disruption can happen at any time – if the delegates approve of the proposed changes to the blockchain. This can involve system changes like amendments to fees or the process of baking, or anything really! This also results in a thriving community to discuss changes and new rules to make the system better. For example, in November 2020, Tezos went through the Delphi update, which decreased gas consumption by around 75%. An upgrade like this can be significant for DeFi development on the Tezos blockchain, and it also shows how on-chain governance can be nimble to adapt to new directions.       Tezos (XTZ) use cases Like other blockchain networks, Tezos is a fast way to verify financial transactions with minimized trust.  In September 2019, Gendarmerie’s cybercrime division (C3N) became one of the first governmental agencies to use Tezos for the validation of their judicial expenses. Tezos can also be used to transfer ownership of illiquid assets, such as real estate, art, and jewelry. For instance, a company called MountX is leveraging Tezos for tokenization of real estate in Mexico.   How to store Tezos (XTZ) The XTZ token (aka Tez or Tezzie token) can be stored using the usual suspects when it comes to wallets, including many software wallets such as Trust Wallet. You can also store XTZ on either the Ledger or the Trezor hardware wallets via third-party software.  If you’re interested in staking your XTZ tokens, check out the Locked Staking product on Binance Earn.   Closing thoughts While Tezos hasn’t seen the same amount of network activity and rush of DApp building as Ethereum, it’s not because this blockchain is without merit. The unique approach to upgrading and voting may make it a more agile platform than some of its competitors, which can turn into a big advantage over the long run. With a rocky road to launch, Tezos has provided some utility and can be appealing to both governmental and industry customers. Have more questions about the Tezos network? Check out our Q&A platform, Ask Academy, where the Binance community will answer your questions.
Crypto Market News: Hungary And Russia Take Crypto Into Consideration, ETH Decreased By 5.1%

Crypto Market News: Hungary And Russia Take Crypto Into Consideration, ETH Decreased By 5.1%

Alex Kuptsikevich Alex Kuptsikevich 14.02.2022 08:48
Bitcoin strengthened in the first half of the week and the middle, having managed to test the highs of early January above $45,800. The situation changed on Thursday after the release of US inflation data, which updated the maximum levels for 40 years, and US stock indices fell. This had a negative impact, among other things, on cryptocurrencies, which showed a significant correlation with other risky assets. Late last week, the Fed announced an unscheduled meeting to be held today, February 14th. As a result of the meeting, the regulator may well raise rates without waiting til March. Moreover, even a double increase is possible, by 0.50%. Tightening monetary policy can hit all risky assets, including cryptocurrencies. On February 12th, the bitcoin network hashrate updated all-time highs above 248 EH/s. The indicator indicates the strengthening of the position of the blockchain and the development of its infrastructure. Kathy Wood, head of investment company ARK Invest, actively sold shares of the Grayscale Bitcoin Trust backed by bitcoin throughout February. Note that these securities were purchased in July last year, at the time of the BTC reversal upwards. The Central Bank of Hungary has now called on EU countries to ban cryptocurrency trading and mining. The Bank of Russia announced its desire to reduce the involvement of citizens in the crypto market. For example, the Ministry of Finance proposed limiting the list of cryptocurrencies traded in Russia. In general, Bitcoin rose by 1.6% over the past week, ending it at around $42,200. Ethereum lost 5.1%, other leading altcoins from the top ten also mostly sank: from 4.3% (Binance Coin) to 19% (Solana) for a week. The exception was the XRP token, which showed a 20% increase. The total capitalization of the crypto market, according to CoinGecko, decreased by 1.5% over the week to $1.96 trillion. The Bitcoin Dominance Index rose by 1% to 40.7% due to the weakening of altcoins.
SolScan - Many Of Investors Probably Don't Know This Term

SolScan - Many Of Investors Probably Don't Know This Term

Binance Academy Binance Academy 22.02.2022 11:46
TL;DR SolScan is an alternative Solana blockchain explorer. It gives you access to blockchain data regarding transactions, contracts, accounts, and more. If you regularly use Solana or do any troubleshooting, understanding how to use a blockchain explorer is extremely useful. SolScan also has DeFi and NFT dashboards and an analytics platform to browse. You can also use their API to create customized feeds for yourself. All of these are found in the header of the website.   Introduction Solana is a Proof of Stake (PoS) blockchain where project developers can build DApps, tokens, and smart contracts. Like any other active chain, users need an intuitive way to access the blockchain data. Similar to BscScan and EtherScan, Solana also has a dedicated block explorer called SolScan. Let's run through its most important features and a few basic tutorials.     What is SolScan? SolScan is a blockchain explorer used to search through information on the Solana blockchain. It’s a popular alternative to the official Solana explorer. SolScan turns complex transactional data into something that can be easily read. The block explorer provides access to anything recorded on-chain, including crypto transactions, addresses, smart contracts, blocks, tokens, and more. It’s free to use and doesn’t require an account, but you can create one and log in for enhanced functionality.   Why should I use SolScan? Using a blockchain explorer is essential for anyone transacting with a network. If you aren’t sure where your staked funds have gone, or perhaps a transaction is still pending, you can use SolScan to find out what’s happened. All information on SolScan comes directly from the Solana blockchain, so you can be sure it’s accurate. Using SolScan or any blockchain explorer will help you understand the mechanics of DApps you interact with and the transactions you make. SolScan uses the same format as EtherScan, making it easier to understand. Many users prefer its layout to SolScan’s official explorer. It’s all free to use and contains several useful tools, lists, and analytical graphs. The explorer also contains a set of public APIs that can leverage real-time data from SolScan into custom, third-party applications, and tools.   How to look up transactions and addresses on SolScan? One of SolScan’s most-used features is the search function for transactions and addresses. With the correct hash, you can quickly access a large amount of information. This includes transaction fees, confirmations, timestamps, addresses involved, and more. Transactions 1. Every Solana transaction is recorded on the Solana mainnet with a signature. This is a long string of numbers and letters that looks like this:  5JLcGJQfZjEEuh1bSDqyw2iEfLuFRoYRJY1paoSwrZC8c8zZFW3VqvxsJgjW3bsUjTrpEUDEtvs83PxsuR6hUWqz 2. Copy and paste the signature into SolScan’s search bar and hit enter.     3. You’ll now see all available information about the transaction you searched. This is divided into three categories: [Overview], [SOL Balance Change], and [Token Balance Change].     4. The [Overview] category will have most of the details you need. Let’s go through the list: Signature An alphanumeric string uniquely assigned to each transaction. It’s an identifier similar to Ethereum’s Transaction Hash or TxID. Block The block number your transaction was processed in. These numbers are sequential and indicate your transaction’s placement within the blockchain’s history. Timestamp The timestamp associated with the block in which your transaction was processed. Result The transaction’s confirmation status. Signer The wallet address that initiated the transaction. Fee The fee paid for the transaction. Main Actions An overview of the activities associated with the transaction. Previous Block Hash The alphanumeric hash to identify the previous block. Instruction Details A detailed log of the transaction’s actions. Program Log A detailed log of the instructions/actions results.   5. For further information, the [SOL Balance Change] and [Token Balance Change] tabs provide data on the transaction’s token balance changes for all parties involved. Addresses A similar method can be used to find out more about an individual address. You can then check a detailed history of the address's activities. This can give you an overview of the transactions and smart contract interactions of a particular wallet. 1. Find the Solana address you want to look at. It’s shorter than a signature and looks something like this:  138KHwTqKNWGLoo8fK5i8UxYtwoC5tC8o7M9rY1CDEjT 2. Copy and paste the address into SolScan’s search bar and hit Enter.     3. You’ll now see all available information about the account you searched for. The [Overview] section shows current account balances, while the bottom tabs deal mainly with transaction history.     How to find tokens on SolScan? Tokens are easily verifiable on SolScan and you can get a full display of their details. You just need to: 1. Copy and paste the token address into SolScan’s search bar and hit enter. In this example, we’ve used a wrapped version of Bitcoin (BTC), but you can also use a wrapped version of Ethereum (ETH) or any other SPL-token in the Solana network. The token address looks like this:  9n4nbM75f5Ui33ZbPYXn59EwSgE8CGsHtAeTH5YFeJ9E 2. If you entered the address correctly, you would see the following information.     Tokens Fully Diluted Market Cap This is the max total supply multiplied by the token’s current price. It’s called diluted because it also includes locked tokens. Max Total Supply The total number of tokens that will ever exist for a particular cryptocurrency, whether previously mined or issued in the future. Holders The number of addresses holding the token. Social Channels Links to the token’s official social media channels. Token name The name and ticker of the token in the format: [token name (TICKER)]. Token address Unique alphanumeric address assigned as an identifier for each token. Owner Program A class type and unique ID indicating the specific owner program responsible for reading and writing data to the blockchain. Authority The account (usually multi-signature) that has authority to validate transactions within the network. Decimals How divisible a single token is (the number of decimals allowed). Tags Descriptive tags used to indicate the nature of the token. It can be used to find similarly categorized tokens. Transactions A complete and sequentially ordered list of all token transactions. Holders A full list of all accounts holding the token ordered by total quantity held and percentage share. Analysis Graphs on token distribution and holders. Markets A list of all known markets and pairs supporting the token.   How do I find Solana’s active accounts? 1. You can find out the number of active accounts and other key blockchain metrics by clicking [Analytics].     2. The SolScan analytics page has a wide range of information about network nodes, transactions per second (TPS), new tokens, new NFTs, and more. Under the [Accounts] header, you can find the number of daily active wallets.     3. Note that you can select different periods at the top right corner.     How to access DeFi dashboards on SolScan 1. Some of the largest DEXs in the Solana ecosystem have dashboards built into the Solana block explorer. You can find them quickly under the [Defi] tab.     2. Let’s take a look at Orca. This dashboard shows basic information on Total Value Locked (TVL), volume, and active trading pairs available in their liquidity pools.     How to access the NFT dashboard on SolScan 1. SolScan makes it easy to see new NFTs, trades, and collections with the NFT dashboard. You can find the section in the website header.     2. The NFT dashboard will let you search through any NFT available on Solana. The [Collections] tab will give you a list of NFT projects based on volume. The [Trades] tab will show the most recent sales, while the [New NFTs] will list the most recent mints.       Closing thoughts Whether you want to inspect your latest Metaverse NFTs, investigate a node, or check the wallets of a new startup, you will need a Solana block explorer. This tool is an integral part of any blockchain network’s ecosystem. SolScan has become one of the most used within the Solana community, so understanding its layout and UI can certainly help.
OVR migrates to Polygon

OVR migrates to Polygon

Finance Press Release Finance Press Release 23.02.2022 09:10
OVR Augmented Reality Platform has informed about migration on Polygon Blockchain. What are the reasons for this decision? What are the advantages of this solution? What are the benefits for users? OVR is Metaverse platform, which offers Augmented Reality (AR) solutions, gaming and virtual lands sales. It’s based on two kinds of tokens: OVR utility tokens based on ERC-20 standard and unique, non-fungible OVRLands NFTs, which represent virtual lands. At the beginning of January OVR informed on its blog about plans of migration from Ethereum blockchain to Polygon blockchain. In the same month the migration started. Polygon is used for solutions compatible with Ethereum. The platform was founded in 2017 in response to high transaction fees and slow speed of Ethereum network. Polygon network is very popular amongst developers of decentralized applications (Dapps), DeFi projects and games. Thanks to migration to Polygon transactions will be easier and cheaper. Users can now swap OVR Tokens on the Polygon implementation of Uniswap V3. Currently, gas fees are only 0.01$ per swap. Users can use the official Polygon Bridge application to move OVR tokens from Ethereum to Polygon and vice-versa. To do this, just connect a wallet to the dApp. If we have OVR tokens in our Ethereum wallet, the bridge will recognize them in the search field and we can perform the bridging. If we don’t have MATIC tokens to pay for gas on Polygon, we can use the official faucet to get them to trade on Polygon. MATIC is native token of Polygon network, which allows network payment and participation in the Proof of Stake consensus mechanism. OVR uses Polygon also to solve the problem of scalability in Ethereum. Scalability has been one of the most important issues for OVR since the beginning and the company was looking for the best solutions. Finally OVR decided to move to Polygon. Why has OVR chosen Polygon? The company informed on its blog, that there were many reasons for this decision. The most important of them are: transaction costs, decentralization trade-offs and project vision, current adoption, vicinity to the Ethereum ecosystem and EVM (Ethereum Virtual Machine) compatibility. On the other side, Polygon is very close to the Ethereum ecosystem, shares the same values, and has massive scalability and adoption. Currently, there are more active addresses on Polygon than Ethereum. Polygon offers the scalability, that OVR needs to make NFT minting. Another important advantages are low transaction costs, adoption and closeness to such well-known network as Ethereum. Another important issue may be also decentralization. In its current configuration, Polygon can be categorised as a Commit Chain, and its security model is highly reliant on the Ethereum infrastructure. OVR predicts that Polygon’s current adoption and market sentiment is good indicator that the future of the Polygon looks optimistic. Migration to Polygon The migration from Ethereum to Polygon has started. The changes are described in details on the OVR blog. In the first phase of migration, all new minting began to occure by default on Polygon. User experience (UX) remained not changed. On the primarily market Polygon network payments have been added to the Ethereum and BSC payments options. In this phase the secondary market remained not changed. In the second phase in February all of the OVRLands saved as Merkle Proofs on Ethereum have been minted to the owner’s wallets on Polygon. It’s over 24k different wallets that own more 700k OVRLands. This change will enable full decentralization and transparency of ownership of OVRLands. Light minting function will disappear, all of the purchased OVRLands will be directly minted as NFTs on Polygon. The secondary market will be fully decentralized and transactions between users will be exclusively intermediated by smart contracts. Owners of OVRLands already minted as NFTs on the Ethereum blockchain will be able to transfer them to Polygon. OVR will refund the gas costs for the transfers with OVR tokens. Low transaction costs will enable features that were impossible on Ethereum. Renting smart contracts will be implemented, allowing for the monetization of valuable OVRLands. The further development of Avatars, OVRMaps, and 3D objects will be continued, making them valuable assets in the Metaverse world. What’s next? Company has informed on its blog that in the near future will be introduced the following changes: - batch minting of all the light minted OVRLands - generation of a personal custoded wallet for users who registered without declaring one, - direct NFT minting of new primary market sales, - NFT bridge from Ethereum to Polygon, - fully decentralized secondary market. For now users can trade OVRLands tokens on OpenSea platform until the decentralized secondary market is ready. It will take place in the near future.
OVR – innovative Metaverse platform. Virtual lands and treasure hunt. Augmented Reality conquers the world

OVR – innovative Metaverse platform. Virtual lands and treasure hunt. Augmented Reality conquers the world

Finance Press Release Finance Press Release 23.02.2022 09:10
OVR is the Metaverse platform which combines blockchain technology and augmented reality. It allows to buy virtual lands and provides unusual experiences at the junction of two worlds. About OVR OVR is Metaverse platform for gaming, virtual retail, tourism, education and more. It is open-source, AR platform powered by Ethereum Blockchain. At the end of January OVR has informed about the beginning of migration on Polygon Blockchain. OVR platform is based on two kinds of tokens. OVR tokens are utility tokens based on ERC-20 standard. Unique, non-fungible OVRLands tokens are based on ERC-721 standard. OVRLands represent parcels stored inside a blockchain-based ledger. Every land has standard dimension of 300 square meters. They divide our planet into hexagons in virtual world. The total number of OVRLands is 1.660.954.464.112. Every land has precise geographical localization. Users can participate in OVRLand auctions with OVR fungible tokens. Every auction closes 24 hours after the last bid. If you are the winner, an NFT representing the OVRLand will be minted and sent to your wallet. Until now on the platform over 700 000 auctions have been closed and over 1800 are lasting. These values are still changing. On the platform we can buy virtual lands located on all the world. ŹródÅ‚o: OVR The OVR platform has also many another features and is still developed. Users can create avatars, explore various spaces in augmented reality and play games in play-to-earn model. Augmented Reality Augmented Reality (AR) is technology, which can add any type of content to the surrounding environment, creating the illusion that the real and the virtual elements coexist in the same space. It’s dimension, where everything is possible. Since 2018 there has been dynamic growth of Augmented Reality technologies. Technological giants such as Apple, Facebook and Google made major investments in this industry. According to the forecast published by IDC, augmented reality will play an important role in consumer industry and retail in the near future. The growing popularity of augmented reality is connected with the development of smartphones which can support this technology and smart glasses technologies, which can add information to what the wearer sees. According to data from IDC, the augmented reality market reached $11 billion in 2020 and can even reach $137 billion by the end of 2024. The graph below shows past and estimated future revenues of this industry. Source: IDC (https://www.idc.com/getdoc.jsp?containerId=prEUR146720420) AR experiences can range from static 3D content to interactive highly complex and hyper real scenes, which engage the user to an interaction with the surrounding world. OVR Tokens Users can buy OVR tokens from IBCO (Initial Bonding Curve Offering). Starting price is 0.07$ per one token. The more tokens are minted, the higher the price. The IBCO is both a primary and a secondary market, where you can buy and sell tokens. Buying is creating tokens, selling is burning tokens. The IBCO will never ends. It’s the warranty of liquidity for OVR token holders who can sell it in every moment. Users can also buy OVR tokens on Uniswap, MXC, Bitmart, Bilaxy or Loopring. It’s also possible by credit card, but this option is not available for China and US citizens. OVRLands Tokens If we have OVR tokens, we can participate in an OVRLand auction. The base price for an OVRLand auction is 10$ paid in OVR Tokens. OVR Tokens have a floor purchasing power of 0.10$, so regardless of the OVR Tokens price on the market, 100 OVR tokens will always have a minimum value of 10$ for buying OVRLand. Auctions last 24 hours, and the minimum price increase for consecutive bids on the same land is 2x. What is IBCO and how does it differ from ICO? Similarly as ICOs (Initial Coin Offerings), IBCOs also are used to finance crypto projects. IBCO is the solution to many problems of ICO, such as lack of transparency, liquidity and the prices of tokens established arbitrarily by the project promoters. Not always was also clear, if a promoter who has raised funds has actually spent them to finance the proposed project. This method of financing was high risk for investors. IBCOs are created with the aim of solving these problems. Nowadays a project can issue its token directly on a decentralized crypto exchange (DEX), such as Uniswap. Token can be issued by creating an exchange pair on a DEX or basing on customer solutions. This method of financing is often used by projects based on DAOs (decentralized autonomous organizations) that are controlled by token holders. In traditional ICO tokens are issued before being released on the market. In case of IBCO tokens will be minted if someone buys them or will be burned if someone sells them, so creating and burning of tokens depends on demand and supply. An example of such a project is OVR. How to buy a virtual land? Before users can participate in an OVRLand auction, they need to have a Metamask or Imtoken wallet with OVR tokens. If we don’t have it, we can buy OVR tokens through the OVR IBCO or swap it on Uniswap. The next step is to visit the OVR marketplace and click “connect wallet” on top. If it is our first time participating in the land auction, we need to register with our email address and nationality information. Then we need to check our inbox to confirm the email address. The next step – to increase the auction allowance - we only need to do once for the first time. It permits the smart contract to take the OVR tokens as payment from our wallet if we win the auction. After clicking on “Increase” a prompt from our wallet will ask for a confirmation. After a few minutes we should see the auction allowance number becoming 10000000. That means we can participate in auctions. The next step is to click Marketplace and select the land that we want on the map. We can also zoom in the map. Then we need to click on a point on the map or search the place by entering the name of the location). The next step is to open the bidding panel clicking on Init Auction or Place Bid. Then we insert the amount we want to bid for and confirm by clicking on Place Bid. Next we wait for 24 hours. If there is no other user with a better offer, we own our OVRLand NFT and will see the status of this auction as “closed”. If someone placed a higher bid, the auction would stay open for another 24 hours. We can always check our assets, clicking “My Assets”, where we can see the status of our ongoing land auction and our own OVRLands. Treasures in the virtual world The OVR platform can attract enthusiasts of games. “Treasure Hunt” is play to earn game. If we find treasure chest, we will earn OVR tokens. To play the game, we need to download the smartphone app and give the permission to use the camera. The app must find some key points in the environment to anchor the scene, in which the action takes place. OVRLive OVRLive allows to combine the user’s face photo with the selected avatar body. In this case the app also must find some key points in the environment to anchor the 3D scene, in which user can move and create interactions with friends. OVR Live Events Thanks to Augmented Reality, fans will be able to attend a live events, especially concerts and see their favourite artists perform at their home. The artist will be visualized through his hyper-realistic 3D avatar. His movements will be recorded and reproduced in real-time to recreate a live performance. Augmented reality will enable also interactions between the artists and another users. Polygon migration has started At the end of January OVR has informed about the beginning of migration on Polygon Blockchain. Polygon network payments have been added to the Ethereum and BSC payments options in the primary market. It allows to decrease transaction costs. When the migration is completed the changes will also be introduced on the secondary market. The changes include: batch minting of all the light minted OVRLands generation of a personal custoded wallet for users who registered without declaring one direct NFT minting of new primary market sales- NFT bridge from Ethereum to Polygon fully decentralized secondary market. About company OVRGLOBAL OÜ is a company based in Tallinn managing the issuing of OVR utility token. The company is regulated by the Estonian Financial Intelligence Unit and has a valid virtual currency services license FVT000345. OVR Team consists of Visionaries, Builders and Coders. The founder and CEO of the team is Davide Cuttini, who has wide experience in augmented reality, deep learning and blockchain technology. The team consists of over 20 people. Each of them makes a contribution to the development of the project. For more details of the project you can contact Telegram group: https://t.me/OVRtheReality
Smart Contract Security Audit Explained. How Does It Work?

Smart Contract Security Audit Explained. How Does It Work?

Binance Academy Binance Academy 02.03.2022 09:23
TL;DR A smart contract security audit provides a detailed analysis of a project's smart contracts. These are important to safeguard funds invested through them. As all transactions on the blockchain are final, funds cannot be retrieved should they be stolen. Typically, auditors will examine the code of smart contracts, produce a report, and provide it to the project for them to work with. A final report is then released, detailing any outstanding errors and the work already done to address performance or security issues.   Introduction Smart contract security audits are very common in the Decentralized Finance (DeFi) ecosystem. If you've invested in a blockchain project, your decision might have been partly based on the results of a smart contract code review. While most people understand the importance of audits for cybersecurity, not many dive into the lines of code. Let's take a look at the methods, tools, and results typically seen in smart contract security audits so that you can make more informed decisions.     What is a smart contract audit? A smart contract security audit examines and comments on a project's smart contract code. Typically, these contracts are written in Solidity programming language and provided via GitHub. Security audits are particularly valuable for DeFi projects that expect to handle blockchain transactions worth millions of dollars or a huge amount of players. The audits usually follow a four-step process: 1. Smart contracts are provided to the audit team for initial analysis. 2. The audit team presents their findings to the project for them to act upon. 3. The project team makes changes based on the issues found. 4. The audit team releases their final report, considering any new changes or outstanding errors. For many crypto users, smart contract audits are essential when investing in new DeFi projects. It's become a standard for projects that want to be taken seriously. Certain audit providers are also seen as industry leaders, making their audits more valuable in investors' eyes.   Why do we need smart contract audits? With vast amounts of value transacted through or locked in smart contracts, they become attractive targets for malicious attacks from hackers. Minor coding errors can lead to huge sums of money being stolen. For example, the DAO hack on the Ethereum blockchain took roughly 60 million dollars worth of ETH and even led to a hard fork of the Ethereum network. Since blockchain transactions are irreversible, making sure that a project's code is secure is essential. Blockchain technology's highly secure nature makes it difficult to retrieve funds and resolve issues after the fact, so it’s better to prevent vulnerabilities at all costs.   How do smart contract audits work? The process of a smart contract audit is fairly standard among audit providers. While each auditor's approach may differ slightly, the typical process is as follows: 1. Determine the scope of the audit. The smart contract and project specifications are defined by the project (their intended purpose) and the overall architecture. A specification helps the audit team understand the project's goals when writing and using the code. 2. Provide an initial quote based on the amount of work needed. 3. Run tests. Their exact nature will change depending on the auditing team, their analysis tools, and their methods. Usually, both manual and automated tests are carried out. 4. Create a first draft of the report with errors found and provide it to the project team for feedback and follow-up fixes. 5. Publish the final report, considering any action taken by the team to address raised issues.   Smart contract audit methods Gas efficiency  Smart contract audits don't focus only on blockchain security. They also look at efficiency and optimization. Some contracts make a complicated series of transactions to complete their intended function. With gas fees on networks like Ethereum being relatively costly, efficient contracts can save a lot on transaction costs. Optimizing their performance is also an indicator of the developer's skill. Inefficient steps provide more points for failure and should be avoided. When gas costs are high, smart contracts may fail to execute, even more so when a low gas limit is used. Contract vulnerabilities Most of the work in audits involves checking contracts for security vulnerabilities. While some issues can be easy to see, many exploits involve advanced techniques and strategies to drain funds. For example, market manipulation can be used with weak smart contracts to conduct flash loan attacks. To find these issues, auditors start the break testing process and simulate malicious attacks on the smart contract. Common vulnerabilities include: 1. Reentrancy issues: When a smart contract makes an external call to another external contract before any effects are resolved. The external contract can then recursively call the original smart contract and interact with it in ways it shouldn't be able to, as the original contract’s balance hasn't yet been updated. 2. Integer overflows and underflows: When a smart contract carries out an arithmetic operation, but the output exceeds the storage capacity (usually 18 decimal places). This can lead to incorrect amounts being calculated. 3. Front running opportunities: Badly structured code can provide forewarning of market purchases or sales. This, in turn, can allow others to use the information and trade on it for their own benefit. Platform security flaws Most audits include looking at the network hosting the contracts and even the API used to interact with the DApp. A project may be vulnerable to a DDoS attack or have its website UI compromised, meaning users will actually connect their wallets to malicious blockchain applications.   What is an audit report? The audit report is provided at the end of the audit process. For transparency, projects are expected to share their findings with the community. Most reports categorize issues by severity, such as critical, major, minor, etc. The report will also list the issue's status, as projects are given time to resolve them before the final report's release. Along with an executive summary, a standard report will contain recommendations, examples of redundant code, and a full breakdown of where coding errors exist. Time is given to the project to act on the report's findings before the final version is released.   Where can I get a smart contract audit? A number of smart contract audit services have become well-known for their service. Two are particularly popular, and getting an audit from them will require an initial quote and handover of information, CertiK CertiK is an industry leader when it comes to smart contract audits. Hundreds of projects have audited their smart contracts with them. PancakeSwap, BSC's largest Automated Market Maker (AMM) is one example. Below is a section of Certik’s audit on PancakeSwap.     Also, the vast majority of projects supported by Binance Labs have audited their contracts with CertiK. CertiK releases a leaderboard of audited projects that allows you to compare each one, along with a safety score. Note that, apart from Ethereum, CertiK also covers BSC and Polygon projects.     ConsenSys Diligence Run by Joseph Lubin, a co-founder of Ethereum, ConsenSys is one of the cryptocurrency industry's biggest names in blockchain development. Under ConsenSys Diligence, the company offers Ethereum smart contract audits. They also provide an automated service that checks Ethereum Virtual Machine (EVM) contracts for commonly found mistakes.   How much does a smart contract audit cost? The exact cost of an audit depends on the number of smart contracts to be checked. Typically, an audit will run into thousands of dollars. A particular large project can easily cost over $10,000. The audit company running your audit and its reputation will also affect how much you pay.     Closing thoughts Fortunately for investors and users, smart contract audits have become a golden standard. However, when every project has one, it’s no longer an easy indicator of value. This is why it’s incredibly important to read the audit yourself. Even if you don’t have the technical knowledge, it’s helpful to take a look at the comments and severity of potential issues. When you do come across an audit, you should now at least have an easier time understanding its contents. As always, make sure that any investment decision looks at the whole picture and takes all information into account.
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Blockchain Projects: COTI Explained. What Is It?

Binance Academy Binance Academy 14.03.2022 12:31
TL;DR COTI is a decentralized payment solution that aims to address the blockchain scalability issue. Unlike traditional blockchains, COTI doesn’t rely on Proof of Work (PoW) or Proof of Stake (PoS) to validate transactions. It adopts a unique consensus algorithm called Proof of Trust (PoT), which combines directed acyclic graph (DAG) data structure with PoW. PoT can lower transaction costs and increase throughput to up to 100,000 TPS. Its native token COTI is a cryptocurrency that operates on three different mainnets. COTI is used for paying transaction fees and can be staked to earn rewards in the Treasury. You can also use COTI and other cryptocurrencies to pay for goods and services with the COTI Visa debit card. Learn more on Binance.com   Introduction COTI is a decentralized payment solution that facilitates fast and secure transactions with low fees. It aims to revolutionize traditional finance by eliminating the intermediaries and empowering organizations to build their own payment solutions and digital currencies or stablecoins.     What is COTI? COTI stands for “Currency of the Internet”. Designed by Samuel Falkon in 2016, it was built to support both fiat currency and cryptocurrency for everyday transactions. COTI is the native cryptocurrency of the COTI ecosystem.   How does COTI work? Scalability has been a challenge for major blockchains, such as Bitcoin (BTC) and Ethereum (ETH). They process transactions using blocks, which are added periodically to a growing chain of blocks. However, there’s a waiting period for the blocks to be accepted, which could take a long time to confirm the transactions. For example, Bitcoin can only handle around 20 transactions per second, compared to Visa’s 65,000 TPS. The COTI network is built on Trustchain, a layer-1 blockchain protocol with a directed acyclic graph (DAG) data structure. It can significantly lower transaction costs and increase throughput to up to 100,000 transactions per second (TPS).   Proof of Trust (PoT) To address scalability issues, COTI combines Trustchain, a DAG-based data structure, and Proof of Work (PoW) to create the Proof of Trust consensus mechanism. The COTI DAG is called “the Cluster”, a distributed ledger for recording transactions on the network. Instead of gathering transactions into blocks, transactions are placed in sequence, one after the other. For a new transaction to be acknowledged, the validating nodes must link it to two prior transactions. But which transactions should they link? It depends on their Trust Score. In the PoT system, validators are selected based on their trustworthiness. Each user and node on the Cluster are rated according to their Trust Scores, calculated by their historical behavior and payment statistics. The higher the Trust Score, the quicker their transactions can be processed and the lower the fees. When a user initiates a transaction on COTI, the Source Selection Algorithm will randomly assign two validating nodes with similar Trust Scores. As a result, transactions from trusted users will be confirmed much faster. As transactions with different Trust Scores will be processed in parallel, it can achieve scalability and network security. In COTI, PoW isn’t adopted in the way we’re accustomed to. It doesn’t rely on mining to achieve trust. PoW is only used to protect COTI from spamming attempts and incentivize network participants. Completing PoW tasks allow validators to attach their transactions to the Cluster, but it doesn’t guarantee that they can do so. It all depends on their Trust Scores, which are also used for setting the PoW levels that can indirectly affect transaction fee levels. With no mining required, COTI can operate with very low transaction fees.   A MultiDAG ecosystem The COTI MultiDAG ecosystem is similar to that of Ethereum. There are several independent DAGs on the network with different purposes. They each maintain fully customized tokens and applications, but all run simultaneously on the same infrastructure to make the whole network more efficient. Smart contracts on the COTI DAG are on-chain and decentralized, and the fees for executing them are more affordable than the gas fees on Ethereum. They also allow merchants to create high-performance digital currencies and stablecoins on Trustchain. Users can create their own fiat-collateralized, crypto-collateralized, or even non-collateralized stablecoins with the MultiDAG. For example, COTI is the official issuer of Cardano (ADA)’s stablecoin Djed and the payment system ADA Pay.   COTI Pay COTI Pay is a decentralized payment network that can process both crypto and fiat payments. Users can make nearly instant payments to friends and merchants via COTI Pay wallets, all with very low transaction fees. In addition, COTI Pay supports offline payment with crypto-friendly bank accounts and physical Visa debit cards. They can store fiat currency balances and facilitate in-store payments without having to pay currency exchange fees to third-party service providers. Similar to other online payment systems like PayPal, the COTI Universal Payment System (UPS) offers buyers-seller protections with an arbitration system. This dispute resolution mechanism works with the Trust Score algorithm to safeguard against user errors and fraud and maintain the payment system’s security. The COTI Pay network has its currency exchange (COTI-X) and a stablecoin (COTI Dime). COTI-X functions as a foundational layer for COTI Pay’s applications and services. It’s an internal liquidity pool that powers cross-currency payments, meaning that the COTI network can process instant on-chain settlements on any crypto. This is a competitive advantage for merchants planning to accept cryptocurrencies as payment methods. COTI-X helps the network process millions of dollars in transactions every month. Not only does it speed up the confirmation time for transactions, it also protects merchants from market volatility.   What is the COTI token? COTI coin is the native token of the COTI ecosystem. It is a DAG-based cryptocurrency with a total supply of 2 billion. COTI doesn’t require PoW mining to secure the network. COTI operates on three different mainnets: Trustchain, Ethereum, and BNB Chain. Trustchain: COTI’s native mainnet; Ethereum: COTI also exists as an ERC-20 token on the Ethereum network. It’s traded on some crypto exchanges and used in DeFi DApps ; BNB Beacon Chain (formerly Binance Chain): a BEP-2 version of COTI. COTI token holders can use the COTI Bridge to interoperate between the different networks (mainnets). Apart from paying for services within the ecosystem, COTI can be deposited into the COTI Treasury for DeFi staking. The Treasury will then allocate COTI as incentives for arbitrators and node operators within COTI Pay.   How to buy COTI on Binance? You can buy COTI on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade]. Select either the classic or advanced trading mode. 2. Click on [BTC/USDT] on the top left and search for “COTI”. It will display all the available trading pairs, such as COTI/BUSD. 3. Go to the [Spot] box on the right and enter the amount of COTI to buy. You can use different order types, such as a Market order. Click [Buy COTI] and the tokens will be credited to your Spot Wallet.           Closing thoughts As the online payment industry develops, there will be an increased demand for a highly scalable platform, for both crypto and fiat transactions. According to the team, COTI is looking to expand partnerships with more projects and merchants and is expected to bring more use cases to the platform in the near future.
NEAR - Blockchain Project Launched In 2020. What Is It?

NEAR - Blockchain Project Launched In 2020. What Is It?

Binance Academy Binance Academy 14.03.2022 12:34
TL;DR NEAR Protocol is a layer-1 blockchain that uses Nightshade, a unique sharding technology, to achieve scalability. It was launched in 2020 as a decentralized cloud infrastructure to host decentralized applications (DApps).  NEAR offers cross-chain interoperability through the Rainbow Bridge and a layer-2 solution called Aurora. Users can bridge ERC-20 tokens and assets from the Ethereum blockchain to the NEAR Protocol network, which gives them access to higher throughput and lower transaction fees. NEAR is the native token of the NEAR Protocol. It’s used for paying transaction and data storage fees. NEAR token holders can also stake their tokens on the NEAR wallet to receive rewards or use them to vote for governance proposals.  Learn more on Binance.com Introduction As cryptocurrencies and blockchain technology became more popular, Bitcoin, Ethereum, and other networks started facing scalability challenges due to increased demand. The growing interest in decentralized applications and non-fungible tokens (NFTs) make these challenges particularly noticeable on the Ethereum blockchain. The network often faces increased gas prices and transaction costs due to heavy traffic, which can be discouraging for many users and developers.  While there are several teams exploring different scaling solutions for blockchain networks, the NEAR Protocol (NEAR) team is focused on addressing the limitations through sharding.     What is NEAR Protocol? NEAR Protocol is a layer 1 blockchain that uses sharding technology to achieve scalability. NEAR uses smart contracts and adopts the Proof of Stake (PoS) consensus mechanism to secure its network. Built by the NEAR Collective, the NEAR Protocol was co-founded by Alex Skidanov and Illia Polosukhin in 2020. The project is being developed as a community-operated cloud infrastructure for hosting decentralized applications (DApps). The NEAR platform contains a wide range of programming tools and languages, as well as smart contracts with cross-chain functionality to help developers build DApps. The platform counts with a simplified onboarding process and features human-readable account names instead of cryptographic wallet addresses. As a PoS blockchain, NEAR was awarded the Climate Neutral Product Label in 2021 for being carbon neutral.    How does NEAR Protocol work? To compete with other smart contract-enabled blockchains like Ethereum, EOS, and Polkadot, NEAR implements several features in its ecosystem to enhance its performance.   Nightshade Sharding Nightshade is the core technology of the NEAR blockchain. It is a sharding technology for processing data more efficiently. Sharding refers to splitting the work of processing transactions across many validator nodes. This way, each node will handle only a fraction of the network’s transactions, which allows for a higher number of transactions per second (TPS). On NEAR, Nightshade utilizes block producers and validators to process transaction data in parallel across multiple shards. Each shard will produce a fraction of the next block. Each fraction is called a chunk. These chunks are then processed and stored on the NEAR Protocol blockchain to finalize the transactions they contain. In theory, Nightshade may allow NEAR to handle millions of transactions per second without affecting its performance. Depending on the network condition, it will dynamically split and merge shards based on network traffic and use of resources. When the network is at a high capacity, the number of nodes will increase. The overall efficiency can be maintained, and transaction fees can be kept low. Unlike other PoS networks, validators do not compete for the next block based on the size of their stake. NEAR uses an election mechanism called the Thresholded Proof of Stake (TPoS) to select validators. TPoS is similar to an auction, where a large pool of prospective validators indicates how much NEAR token they’re willing to stake via a signed transaction. TPoS will then determine the minimum threshold for becoming a validator in each epoch (typically, a 12-hour interval). Those that have staked above that threshold will have a chance to be selected as validators, proportional to the amount they staked.    Rainbow Bridge Rainbow Bridge is an application on NEAR that allows users to transfer ERC-20 tokens, stablecoins, wrapped tokens, and even NFTs between the Ethereum and NEAR blockchains. This lets developers and users take advantage of the higher throughput and lower fees on the NEAR Protocol.  The Rainbow Bridge is fully permissionless and decentralized. To bridge tokens, users can send ERC-20 assets directly from MetaMask or other Web3 wallets to the NEAR Wallet and vice-versa. First, they need to deposit the token in an Ethereum smart contract. Since direct token transfer is not possible between networks, the tokens will be locked and taken out of circulation on Ethereum. New tokens will be created on NEAR to represent the original ones. In this way, the total circulating supply of the token remains constant across both blockchains.  In most cases, transactions on NEAR will confirm in 1-2 seconds and cost under $1. However, if the user wishes to move the token back to Ethereum, the procedure can cost more and take longer to process. The final value will depend on the current Ethereum traffic and gas prices.    Aurora Aurora is a layer-2 solution on the NEAR Protocol blockchain. It aims to help developers expand their apps on an Ethereum-compatible platform that offers low transaction costs for their users. According to NEAR, Aurora is able to host thousands of transactions per second, with only approximately 2 seconds of block confirmation time. Aurora is composed of the Aurora Engine and the Aurora Bridge. Aurora Engine is an Ethereum Virtual Machine (EVM) on the NEAR Protocol, meaning that it is compatible with Ethereum and supports all tools available in the Ethereum ecosystem. This makes it easier for developers to get started on NEAR without having to rewrite their DApps or learn how to work with new development tools. They can also use the Aurora Bridge (the same technology as the Rainbow Bridge) to seamlessly bridge their smart contracts and ERC-20 tokens between the Ethereum and NEAR Protocol blockchains. Users can also pay transaction fees with ETH on Aurora.   What is the NEAR token? NEAR Protocol (NEAR) is the native token of the NEAR ecosystem. It’s an ERC-20 token with a max supply of 1 billion. NEAR can be used for paying transaction and storage fees on the network. Also, smart contract developers can receive a portion of the transaction fees their contract generates. To keep NEAR scarce, the remaining transaction fees will be burned. Token holders can stake on the NEAR Wallet to earn rewards too. They stake NEAR to run validating nodes for rewards that amount to 4.5% of the total NEAR supply. They can also participate in the governance of the NEAR network by voting on decisions and submitting proposals related to the platform and products.   How to buy NEAR on Binance? You can buy NEAR Protocol (NEAR) on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and click [Trade]. Select either the classic or advanced trading interface. 2. Click on [BTC/USDT] to open the search bar. Enter “NEAR” and you’ll see the available trading pairs. In this example, we’ll use NEAR/BUSD. 3. Go to the [Spot] box on the right and enter the amount of NEAR you wish to buy. You can use different order types to place the order. Select an order type, such as Market order, and click [Buy NEAR]. The NEAR tokens will be credited to your Spot Wallet.       Closing thoughts As the blockchain space grows, platforms that can offer lower transaction costs and increased throughput will likely play an important role in mainstream adoption. NEAR’s scaling solutions can attract developers looking to build more efficient DeFi products and decentralized applications (DApps). The NEAR roadmap includes further sharding developments and layer-2 cross-chain solutions to further scale its blockchain and ultimately benefit developers and end-users.
Is There Any Gold in Virtual Worlds Like Metaverse?

Is There Any Gold in Virtual Worlds Like Metaverse?

Finance Press Release Finance Press Release 25.03.2022 12:15
Imagine all the people… living life in the Metaverse. Once we immerse ourselves in the digital sphere, gold may go out of fashion. Or maybe not?Do you already have your avatar? If not, maybe you should consider creating one, as the Metaverse is coming! What is the Metaverse? It is a digital, three-dimensional world where people are represented by avatars, a network of 3D virtual worlds focused on social connection, the next evolution of the internet, “extended reality,” and the latest buzzword in the marketplace since Facebook changed its name to Meta. If you still have no idea what I’m talking about, you can watch this or just Spielberg’s Ready Player One.The idea of personalities being uploaded online is an intriguing concept, isn’t it? In this vision, people meet with others, play, and simply hang out in a digital world. Imagine friends turning group chats on Messenger or WhatsApp into group meetups in the Metaverse of family gatherings in virtual homes. Ultimately, people will probably be doing pretty much everything there, except eating, sleeping, and using the restroom.Sounds scary? For people in their 30s and older who were fascinated by The Matrix, it does. However, this is really happening. The augmented reality technology market is expected to grow from $47 billion in 2019 to $1.5 trillion in 2030, mainly thanks to the development of the Metaverse. China’s virtual goods and services market is expected to be worth almost $250 billion this year and $370 billion in the next four years.In a sense, it had to happen as the next phase of the digital revolution. You see, we now experience much of life on the two-dimensional screens of our laptops and smartphones. The Metaverse moves us from a flat and boring 2D to a 3D virtual universe, where we can visualize and experience things with a more natural user interface. Let’s take shopping as an example. Instead of purchasing items on Amazon, customers could enter a virtual shop, see and touch all products in 3D, and buy whatever they wanted (actually, Walmart launched its own 3D shopping experience in 2018).OK, we get the idea, but why does Metaverse matter, putting aside sociological or philosophical issues related to transferring our minds into the digital world? Well, it might strongly affect every aspect of business and life, just as the internet did earlier. Here are a couple of examples. Famous brands, like Dolce & Gabbana, are designing clothes and jewelry for the digital world. Some artists are giving concerts in virtual reality. You could also visit some museums virtually, and instead of taking a business trip, you can digitally teleport to remote locations to meet with your co-workers’ avatars.Finally, what does the Metaverse imply for the gold market? Well, it’s difficult to grasp all the possible implications right now. However, the main threat is clear: as people immerse deeper and deeper into the digital world, gold could become obsolete for many users. Please note that cryptocurrencies and non-fungible tokens (NFTs) are and will continue to be widely used as payment methods in the Metaverse.However, there are some caveats here. First, the invention and spread of the internet didn’t sink gold. Actually, the internet enabled gold to be widely traded by investors all over the world. Just take a look at the chart below. Although gold was in a bear market in the 1990s and struggled during the dot-com bubble, it rallied after the bubble burst.Second, the digital world didn’t kill the analog reality. Despite digital streaming of music, vinyl record sales soared last year, reaching a record high in a few decades. The development of the Metaverse could trigger a similar backlash and a return to tangible goods like gold.Third, some segments of the Metaverse look like bubbles. Maybe I’m just too old, but why the heck would anybody spend hundreds of thousands, or even millions of dollars to buy items in the virtual world? These items include virtual real estates (CNBC says that sales of real estate in the metaverse topped $500 million last year and could double this year), digital pieces of art or even tweets (yup, the founder of Twitter sold the first tweet ever for just under $3 million)! It does not make any sense to me, as I can right-click and download a copy of the same digital files (like a PNG file of a grey pet rock) for which people pay thousands and millions of dollars.Of course, certain items could increase the utility of the game or virtual experience, but my bet is that at least some buyers simply speculate on prices, expecting that they will be able to resell these items to greater fools. When this digital gold rush ends – and given the Fed’s tightening cycle, it may happen in the not-so-distant future – real gold could laugh last.Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care.
Crypto Focus: Another Week of Solid Gains and Heavy Selling

Crypto Focus: Another Week of Solid Gains and Heavy Selling

8 eightcap 8 eightcap 01.04.2022 10:10
This week got off to a similar start as last, with buyers controlling momentum for the first four days of trade. Friday saw a heavy fade set up with half of the week’s gains cut on the top 10 and top 25 indexes after seeing just over 10% of gains to the week’s high. Some headlines have come out where Bitcoin has briefly moved back above 48K. Ethereum is set for an upgrade, and it’s being called a merge. This will be a joining of mainnet and the beacon chain proof-of-stake system. The ‘merge’ will mark the end of proof-of-work (PoW) for Ethereum in favour of the proof-of-stake (PoS) mechanism. This is due in the second quarter of 2022. Ronin hack, around 600 million was stolen from the Ronin network. A blockchain associated with the popular pay-to-earn game Axie Infinity. This was one of the largest hacks in Crypto history. Around 173,600 Ether and 25.5 stable coins were taken. Looking at this weekend and next week’s session, we are wondering if the current fade is short term or if something deeper is happening here. This is the third straight week of solid gains before heavy selling developed. Following on from the fade, Ripple is in an interesting position. Price failed at key resistance and has made a breakthrough the fast uptrend. Price bounced off the main uptrend but, for now, sits in no man’s land. A hold after the test of the main trend line could set up a new continuation higher, but if we see a break of the main trend line, this could suggest that a deeper correction could be underway. The post Crypto Focus: Another Week of Solid Gains and Heavy Selling appeared first on Eightcap.
Gate.io Sponsors Block World Tour Andorra 2022

Gate.io Sponsors Block World Tour Andorra 2022

Finance Press Release Finance Press Release 04.04.2022 09:12
Gate.io, one of the leading cryptocurrency exchanges joins the Block World Tour as an official sponsor of the Blockchain Summit which is being held at the Lauredia Cultural and Congress Center, Andorra on the 1st and 2nd of April, 2022. The 2- day Block World Tour is a global multicultural event aimed at connecting top industry experts and promoting various sectors of the advancing technology industry, highlighting its new developments and innovations. Featuring top speakers in the blockchain industry, the summit hosts a series of educational activities, promoting the inclusivity of the people in the expanding Blockchain world and sectors including NFTs, Metaverse, DeFi, and Web 3.0. “"The future of baking will be a bank without money, it will be a bank with finance digital assets"- Edmon Pallerola, during the Distributed Finance Panel at the summit. Members of the Gate.io team including the Chief Marketing Officer, Marie Tatibouet, and the Head Of Business Development, Mariela Tanchez are also present to share insights on the crypto industry. “2022 will be the year that Web 3.0 really comes alive. Many of the different blockchain technologies like Defi protocols, NFTs, DAOs are starting to truly interact with each other. Given the early stages we're in, it's still very much a beta experience. However, we will look back a few years from now as the first year the tetris machine started to assemble”, said Marie Tatibouet on the CEX - DeFi &Security Panel discussion. As sponsors of the Andorran Block World Tour, Gate.io aims to significantly support the blockchain industry as it remains among the top leaders of the space, enhancing connections and networking to further contribute to a successful future of the industry. About Gate.io Established in 2013, Gate.io is one of the oldest, leading cryptocurrency exchanges. Gate.io offers most of the leading digital assets and has over 10 million registered users across the world. It is consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko, and has been verified by the Blockchain Transparency Institute (BTI). Additionally, Gate.io has been given a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021. Besides the main exchange, Gate.io also offers other services such as decentralized finance, research and analytics, venture capital investments, wallet services and more. Disclaimer: Please be noted that Gate.io may not be able to provide full scale service in certain markets and jurisdictions, and Gate may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For detail of the restricted locations, please read the Terms of Service “Section II Eligibility”.
4 Cryptocurrencies To Keep A Watch On: Elrond (EGLD), Geojam (JAM), Alpine F1 Team Fan Token (ALPINE), QTUM Token (QTUM)

Qtum (QTUM) What Is It? Another Blockchain Project Explained

Binance Academy Binance Academy 04.04.2022 11:38
Trading Blockchain Altcoin TL;DR Qtum is a blockchain network founded in 2016 that combines Ethereum's smart contract capabilities with Bitcoin's UTXO accounting system. It achieves this through a technology called Account Abstraction Layer, which gives Qtum the benefit of implementing updates from both Bitcoin and Ethereum. Qtum is decentralized, meaning there is no permission required to validate transactions. Anyone can run a node, needing only a device and internet connection. Qtum uses a Mutualized Proof of Stake consensus mechanism to disincentivize junk contract attacks. Rewards are split among multiple successful validators and partly delayed for 500 blocks.  Qtum has native support for token standards such as QRC-20, QRC-1155, and QRC-721. The QTUM cryptocurrency is the network's native token, used for transaction fees, staking (which can even be done offline), and governance. You can purchase QTUM on Binance with a credit or debit card or trade for it using other cryptocurrencies. Qtum is based in Singapore, with offices in Miami and Stockholm. Introduction We've moved a long way from Bitcoin when it comes to blockchain technology. Most new Layer 1 platforms use innovations far beyond the original Bitcoin model. Qtum, however, has taken desirable elements from Ethereum and Bitcoin. This combination makes it a particularly interesting project due to its unique architecture. So, if you've ever wondered what makes Qtum special, Academy is here to run you through its unique aspects together.     Learn more on Binance.com   What is Qtum? Qtum (pronounced Quantum) was founded in 2016 by Ashley Houston, Neil Mahl, and Patrick Dai. The project ran an ICO (Initial Coin Offering) in 2017, raising $15.6 million before launching its mainnet in September of that year. The Qtum network's primary concept is to combine aspects of Ethereum (ETH) and Bitcoin's (BTC) networks. The team has taken Bitcoin's unspent transaction output (UTXO) model and combined it with Ethereum's smart contract capabilities while leveraging the upstream benefits of both chains.   How does Qtum work? There are four significant aspects to the Qtum network: 1. A UTXO model for accounting. 2. A Solidity smart contract platform. 3. An Account Abstraction Layer. 4. A Proof of Stake consensus mechanism. To create this mix, Qtum has used a modified Bitcoin Core client software to complete the transaction base of their network. The network is also Ethereum Virtual Machine (EVM) compatible and uses Solidity as its coding language. This means you can easily port code and DeFi (Decentralized Finance) projects from Ethereum onto Qtum. Also, its custom Proof of Stake (PoS) consensus mechanism has been made to target critical security issues.   What is a UTXO? UTXOs are Unspent Transaction Outputs and a common concept in the cryptocurrency world. On some networks, cryptocurrency transactions are made of outputs and inputs. Sending 1 BTC, for example, requires you to use UTXOs as inputs to then "send" as an output. These UTXOs are then marked as spent, and the output becomes a new UTXO. Imagine you're sending 0.6 BTC. This actually will be made up of 0.4 BTC and 0.2 BTC outputs from previous transactions. However, if you only wanted to send 0.3 BTC, you would need to split the 0.4 BTC UTXO into 0.3 for your friend and 0.1 for yourself. This leaves 0.4 BTC entirely spent and two new UTXOs of 0.3 and 0.1. This system of accounting may seem odd, but it has its benefits: 1. It's easy to combat double-spending as you can see if an output is already spent. 2. A network can process transactions in parallel as every transaction contains independent outputs. Ethereum, on the other hand, uses an account transaction model similar to what you would find with a bank account. This particular model maintains a global state of all balances on the network.   What is the Account Abstraction Layer? Blockchains with smart contract capacity don't normally use the UTXO accounting system for technical reasons. Qtum's answer is to use an Account Abstraction Layer (AAL). As the name suggests, Ethereum's accounts system is abstracted from its technical implementation. With an accounts model, smart contracts work with an address or smart contract's end balance. However, with UTXO, a smart contract must decide which UTXOs to use, often across several public and private addresses. Internal transactions between contracts also provide a similar problem. A UTXO blockchain must record all transactions, making the process difficult. AAL works by using a UTXO transaction's output to create a smart contract. It then sends the transaction to the contract account to trigger the contract's execution. The AAL processes the results and adapts them to UTXO. The AAL technology allows Qtum to take advantage of both Ethereum and Bitcoin updates. For example, when non-fungible token support was added to Ethereum, Qtum had the ability to adopt it quickly. Notable Bitcoin updates were Segregated Witness (SegWit) and Taproot. Being UTXO-based also allows Qtum to benefit from the Lightning Network and other technologies.   What is Proof of Stake? Mutualized Proof of Stake is Qtum's custom consensus mechanism. The Qtum team designed it to combat junk contract spam attacks by increasing their cost. The mechanism shares block rewards between block-producing nodes and also delays the payment. Each reward is split equally between the successful validator and the previous nine successful validators. A portion of the rewards is also delayed for 500 blocks. This system makes it difficult for attackers to calculate the exact rewards from a potential attack.   What is offline staking? In August 2020, Qtum introduced a new offline staking mechanism for QTUM holders. Rather than give up custody of your QTUM tokens, you only need to provide your wallet address. Your coins stay in your wallet and can be spent or undelegated at any time. The consensus mechanism has two actors: Super Stakers (validators) and delegators. Delegators send their wallet address via a smart contract to a Super Staker. A fee is agreed on that the delegator will pay, and the Super Staker can decide to accept the delegation. The Super Staker can then stake the delegator's UTXOs. If a Super Staker successfully validates a block, they will share a reward with their delegators and charge a fee. Once delegated behind a Super Staker, you passively earn QTUM. You don't need to be locked into a smart contract, and you can work with an offline solution such as a hardware wallet. Super Stakers can then win block rewards for the delegates and charge a fee for staking. But after the delegation, the delegator's wallet does not need to be kept connected to the network. In other words, delegates receive rewards in passive mode.   What is QTUM? QTUM is Qtum's native cryptocurrency, which is distributed to users via the network’s consensus mechanism. You can use the QTUM coin to: 1. Pay transaction fees on the network. QTUM uses an Ethereum-like model for calculating gas fees. 2. Participate in Qtum's on-chain governance protocol by voting on proposals. These could include changing the block size or network fees. During times of high usage, the cost of gas can be lowered, and the block size increased to handle layer 1 transactions up to 1,100 TPS. If required, a layer 2 solution like Lightning Network can be used to increase this throughput. 3. Stake as either a delegator or Super Staker to validate blocks. Each new block provides rewards to delegators and Super Stakers. Qtum halves the rewards periodically using a method similar to Bitcoin’s halving. This mechanism will ultimately create a finite QTUM supply which will take decades to achieve. At this point, stakers will be rewarded with transaction fees only.   Where can I buy QTUM? Binance offers two ways to purchase QTUM. First of all, you can buy QTUM with a credit or debit card in selected fiat currencies. Visit Binance's [Buy Crypto with Debit/Credit Card] page, choose the currency you want to pay in, and select QTUM in the lower field. Click [Continue] to confirm your purchase's detail and follow the further instructions.     You can also trade a selection of cryptocurrencies for QTUM, including BUSD, BTC, and ETH. Navigate to Binance's Exchange view and type QTUM in the trading pair search field. This will display all the available trading pairs. For more information on using the Exchange view, visit our How to Use TradingView on the Binance Website guide.       Conclusion As a solution, the Qtum blockchain is quite unique. It removes the problems seen with Proof of Work (PoW) by implementing a PoS system with upgrades. It allows for smart contracts and Decentralized Applications (DApps) while also using UTXO accounting. While many blockchain platforms in the ecosystem develop brand new methods, Qtum has taken successful functionality from previous ones. So, if you've been considering Qtum as an altcoin, you now can make a more informed decision based on its use cases.
A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin

A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin

Rebecca Duthie Rebecca Duthie 25.04.2022 09:18
Summary: What is meant by decentralization and smart contracts. What is the Kishu Inu coin and why is it becoming so popular? The future of Kishu Inu looks bright. Other advantages of the coin. When users make a Kishu transaction, they receive a 2% reward in a decentralized wallet, thus, the more KISHU is used, the more rewards are granted to its users. The Kishu Inu Coin, represented by the token symbol: $Kishu, is a decentralized meme-coin that is community-focused, active users of the coin receive instant rewards. When users make a Kishu transaction, they receive a 2% reward in a decentralized wallet, thus, the more KISHU is used, the more rewards are granted to its users. The main difference between Kishu Inu and its comparable coins is that it is community-owned, the developers do not reserve coins for the team, but instead rely on donations. In addition, the community makes all the decisions. Read next: Global Crypto Market Value Fell By Over 2% Today. (Polygon) MATIC/USD, CRO (Crypto.com) and TRON/USD (US Dollar) | FXMAG.COM A decentralized network is beneficial to all parties involved in the transaction, as it nullifies the need for trust and authority to take part in transactions With decentralization the transfer of control and decision making is taken from a centralized entity (organization, individual or group) and given to a distributed network. A decentralized network is beneficial to all parties involved in the transaction, as it nullifies the need for trust and authority to take part in transactions. The smart contracts in KISHU Inu means the community and users are almost completely protected from any bad actors The $KISHU coin’s smart contract has been audited and its LP (liquidity pool) tokens have been burnt. Smart contracts are digital contracts which are stored on a blockchain, when predetermined terms and conditions are met, the programs are executed. They are beneficial as they leave little to chance. In addition, they automate the execution of agreements so all parties can be sure of the outcome, they also eliminate the need for an intermediary. The smart contracts in KISHU Inu means the community and users are almost completely protected from any bad actors. Originally the creation of the Kishu Inu coin was inspired by Dogecoin (DOGE), it is a meme cryptocurrency, meaning the coin is associated with a joke. However, Kishu Inu hopes to break that stigma and turn their coin into a serious cryptocurrency by taking meme coins to another level. Read next: Altcoins: (BNB) Binance Coin Jumps On The EU Sanction Bandwagon The chart below shows the price of the $KISHU token over the past 2 months or so, it shows a bearish trend overall. In the past 24 hours the value of the coin has fallen by around 8,7%, the coinmarketcap ranking is #2943. The Future: KISHU, as of now the coin is almost similar to the Dogecoin and Shiba Inu tokens. The coin also has an impressive market cap of around 2 Billion, and over 100k coin holders right now. There are some strong indicators that can indicate a jump in price over the next few years, such as the introduction of a new dog stream coin. According to some sources the price of the coin is expected to jump hugely by the end of the year, and possibly continue to increase until 2026. It is probably a good coin to watch going forward. There are many other advantages to investing in this coin, the set up of the coin is very interesting. Some of these other advantages not mentioned above include: The coin can be transferred through an inter-wallet wallet transfer across international borders, this inter-wallet charges much lower transaction fees than traditional banking would. Profit without trading is ensured by the advantage of adding coin earnings to their online wallet through staking of KISHU. KISHU holders are able to provide loans to other users on the network, the lenders will receive interest after the debt is paid. The transaction time can be completed within minutes. Read next: Global Crypto Market Value Fell By Over 2% Today. (Polygon) MATIC/USD, CRO (Crypto.com) and TRON/USD (US Dollar) Sources: Kishu.com, amazon.com, coinmarketcap.com, uptobrain.com Chart: Tradingview.com
Oil Defies Broader Risk-off Sentiment: Commodities Update

Crypto News: (ARUSD) Arweave, rally watch as buyers clear $27

8 eightcap 8 eightcap 27.04.2022 03:53
Today our focus is on Arweave (ARUSD). Buyers, for now, have pulled back most of yesterday’s losses and continue to push at a possible engulfing bar pattern. Last month, price was supported by news 17M was raised to help make Arweaves data storage blockchain more usable. Up until today, thing’s haven’t been the best for Arweave, with the last four weeks of trade being lower. A shift has started this week, and we can see buyers trying to pull back from losses. Pattern focus, for now, remains on the daily. Today’s candle is close to forming an engulfing bar which sits just above a level of demand. A fair bit of pressure remains on today’s bar. We really want to see a firm close that really needs to beat yesterday’s open or high, and we would prefer to see a close above yesterday’s high, confirming the bar pattern. A close at that point should also lift the CCI above the 0, moving back into a bullish area and set up a break of the current downtrend. If those are achieved by the end of today’s NY session, we could be seeing a new up-leg developing. If price retraces today and closes below $27, that would cancel out the engulfing idea. If heavy selling resumes, a break of the demand area would suggest that the current downtrend has further to run. If we do see a new move higher get going, we have marked two levels of potential resistance, but we would think that key resistance could be the first real test if reached. Arweave D1 Chart The post Crypto News: Arweave, rally watch as buyers clear $27 appeared first on Eightcap.
Computer Software Licensing on Blockchain  - What Is It About? HashUp is trying to build the world's first decentralized software marketplace.

Computer Software Licensing on Blockchain - What Is It About? HashUp is trying to build the world's first decentralized software marketplace.

Finance Press Release Finance Press Release 11.05.2022 09:50
Imagine travelling back in time. Video games are distributed via physical licenced carriers such as cartridges and discs, and are the mainstay of gamers' video game collections. They played a central role in the early personal computer systems that began to develop around this time. So did the awfully colourful shirts of that era and permed hair. Fortunately, the latter are no longer around. But let us look at what made cartridges so special. Tangible media meant flexibility, but also brought problems with physical design, backward compatibility, and copying. However, they could be exchanged or resold. You could actually own a purchased game and your access was not blocked by the subscription restrictions of an online platform. Remember the feeling of picking up a freshly purchased game? Not comparable to lines of text or icons on Steam or a console. Stay tuned, because in this article we will give you a brief overview of a distribution model for games that combines the advantages of the good old cartridge days with modern digital resources. We will show you the possibilities of using blockchain cartridges to revolutionise computer software licencing in the 21st century. Issues with Current Gaming Distribution Models Due to the many issues associated with physical distribution, they were eventually supplanted by newer media accessible on consoles and PCs. Nowadays we are confronted with the digital form of distribution offered by large download portals. After capturing a big portion of the market, these platforms enforced their terms, severely limiting the possibilities for both developers and users. You can own a game with a licence associated with your individual user account. It may be convenient to own a game with a few clicks, but you as a player no longer own the copies you buy. They are stored on a central server, and you can lose access to your account at any time. Centralization is inevitable. What exactly are HashUp License Carriers? Or is it? A good example is the latest trend towards licences based on a subscription model. At first glance, it seems like a reasonable system, as you can pay for time-limited access to a library of games of all kinds. However, since there is no way to own and trade your copies of games, subscription platforms monopolise the market and push developers towards high quantity rather than quality. But there is another way. Ask yourself how both users and developers can take control so that players can truly own and trade your games in a convenient digital way, while developers can benefit and focus on content quality? Read next: Gari Networks Future Looks Bright As The Market Waits For $GARI To Launch. | FXMAG.COM The latest model is licencing the code through Hashup platform. What does that mean exactly? Cartridges are being brought back to life through the digital world of blockchain and cryptocurrency. Essentially, blockchain comes to the rescue by transferring the physical properties of carriers into the digital world, similar to blockchain technology. Why not NFT? Another pressing question arises. If we are considering blockchain as a technology for game distribution, why not NFT? The answer is simple. These cartridges carry ERC20 licenses, which are the industry standard for a homogeneous token that can be used in crypto wallets. NFTs are non-homogeneous tokens that represent different items such as paintings or real estate, while cryptocurrencies are homogenized tokens of the "ERC20" type. Since game copies are of uniform nature, ERC20 tokens seem to be a preferred standard for game licensing. How would you transact millions of game editions via NFT without going crazy? HashUp Takes after Cryptocurrency Platforms HashUp is trying to build the world's first decentralized software marketplace. The core idea is to provide liquidity to games in the same way tokens do. As for the cartridge functionality on the blockchain, thanks to DeFi, any ERC20 token can be exchanged for another at the market price as long as the two tokens have the same liquidity. Moreover, since ERC20 is the default token interface on the blockchain and the basis of HashUp license holders, our gaming licence may be stored in any cryptocurrency wallet. That sounds convenient, does not it? The HashUp was developed with cryptocurrency platforms and development in mind. This is what happens when you mix game distribution and cryptocurrencies. You get an alternative system that can be used for computer games and software. Our goal is to decentralize software distribution. To achieve this, each game has its own ERC20 token that reflects its real value. The value of the token # is related to the amount of software published on the platform. Essentially, all the revenue generated by the distribution network is aggregated into a # token and distributed to the community. What are GameCap.io and GameXplorer.io? Another important concept you should be aware of is GameCap.io, a cryptocurrency term that has been implemented into the digital cartridge market. GameCap.io could be considered a bridge between CoinMarketCap and a decentralised exchange (DEX) that assigns a rating to games based on various factors such as volume. Read next: (DOGE) Dogecoin and Musk - How Elon Musk Has Single Handedly Created Price Changes In This Memecoin| FXMAG.COM The platform is integrated with GameXplorer, the world's first blockchain explorer for gamers that specialises in HashUp-compatible cartridges and projects. Interestingly, public addresses are used to create gamer accounts. When you combine game distribution and the power of blockchain and cryptocurrencies, new doors open for gaming platforms. Blockchain-based distribution not only restores the benefits of reliable physical distribution of games, but also creates entirely new opportunities. For example, a game can be held in TrustWallet as a cryptocurrency by carrying a licence, where one token unit corresponds to one licence unit. The Future of Game Distribution with HashUp Tech It is a natural step in the development of software and its distribution to use blockchain technology to accelerate commerce and create new market opportunities for both players and game developers. The future of game distribution with HashUp technology is fair, efficient and transparent. The old world of cartridges collides with the digital age, eliminating the need for intermediaries, physical carriers and a variety of payment methods. Users and game publishers regain control over game distribution. Dare to Publish Your Games at Hashup! HashUp offers plugins that allow you to trade between any games or tokens on a developer's website. It is a mixture of a collection and a subscription model. Did you know that we are looking to build the world's first decentralized software marketplace capable of providing liquidity to games in the same way tokens do? Take control of Your game's distribution and do not hesitate to publish it on our platform - even older, already released titles are welcome here. We are here to help you distribute your game in a fair and convenient way!
The Witcher's Geralt Of Rivia Drops Into Fortnite!

Crypto Games: Interesting Game Rewarding Players - Kara Star (KARA) - What Is It? | KuCoin

Kucoin Blog Kucoin Blog 11.05.2022 17:36
Table of contents · What is KaraStar (KARA) ? · How does KaraStar (KARA) work? · What makes KaraStar (KARA) unique? · Who created KaraStar (KARA)? · Closing thoughts As the world continues shifting to the digital age, more and more people are finding it pertinent to focus their lives on the metaverse. According to research, the metaverse was worth $63.83 billion in 2021. Analysts predict that this value will rise above $100.25 billion by the end of 2022 and hit $1.53 trillion by 2029.   Looking to make a statement in the rapidly growing space, KaraStar seeks to project real-world economic value on a virtual game. The KaraStar virtual world empowers creators to develop a one-of-a-kind Play-to-Earn (P2E) ecosystem.   Through this game model, KaraStar allows gamers to stay entertained, earn money and find peace and love by acting as masters to pets dubbed Kara. By combining an opportunity to earn and positive emotions in one game, KaraStar aims to attract numerous players to build a virtual universe together.   How Does KaraStar (KARA) Work? KaraStar runs on BNB Chain, formerly Binance Smart Chain (BSC). In the game, players are considered creators. The KaraStar game currently features two modes. These are player-versus-player (PVP) and player-versus-environment (PVE). Under PVE lies Dungeon gameplay, where players obtain bonuses in UMY tokens by exploring maps and killing monsters.   On the other hand, PVP includes battling in arenas and tournaments. This mode is suitable for comKarasitive games, which display a player’s understanding and strategy of the game. KaraStar plans to offer crypto worth tens of millions for players participating in the comKarasition.   To start participating in PVP or PVE games, players need to buy three or more non-fungible tokens (NFTs). Through the earned UMY, players can choose to breed or evolve their Karas. Evolving a Kara involves either burning UMY or devouring other NFTs. Each Kara has a limited number of times it can breed to avoid overpopulation.   The game is based on the KaraSpace galaxy, which boasts 12,801 planets that serve as irreplaceable resources. KaraSpace features three categories, Superpower, Nature, and Melee. Each category has different Kara attributes. Under Superpower lies light, electricity, and fire. Nature comprises dragon, ghost, and fairy. Melee features rock, steel, and poison.   Out of the 12,801 planets, 10,000 are resource planets, and 2,000 are creation planets. There’s only one Mother Planet, which is the primary carrier of game operations. However, KaraStar has not yet launched the Mother Planet.   The Mother Planet has 255,255 plots. Each plot is encompassed by 33 grids. Once players acquire plots as private property, they can build their Kara Kingdoms. Players will need UMY to purchase maternal resources. There are five types of land on the Mother Planet. These are central, forest, north pole, desert, and high-tower. Each type of land has different treasures.   The Mother Planet and Lands mode will run as a multiplayer Simulated Life Game (SLG). Players will be able to make friends or compete with other players across the globe. Additionally, they will be able to harvest equipment fragments to boost the power of their Karas to earn more KARA tokens.   What Makes KaraStar (KARA) Unique? The KaraStar ecosystem leverages a dual-token economic system. The UMY token fuels the whole KaraStar metaverse. UMY also serves as the foundation of the KaraStar world to achieve stability and peace. Additionally, UMY is used to power the staking and mining of KARA. Creators generate UMY every time they engage with the game.   On the other hand, KARA is the governance token in the KaraStar ecosystem. One KARA is equivalent to one ticket in the ecosystem’s decentralized autonomous organization (DAO). DAO members can vote on the ecosystem’s governance by staking their KARA. Apart from governance, creators can use KARA for in-game payments.   Additionally, creators holding KARA can earn more rewards by staking their holdings for mining in the farm pool. Players can get KARA through airdrops, buying in the market, or obtaining the token in the upcoming MotherLand mode.   The KaraStar DAO seeks to support community builders. Unlike other DAOs, the KaraStar DAO offers careers for all community contributors. After surveying many pre-DAO members, KaraStar decided to establish the House of Lords and the House of Commons.   In doing so, the project offers DAO members a career path. Additionally, this setup helps provide structural momentum for the stability and growth of the DAO.   KaraStar also features a scholarship platform, which offers customer-to-customer (C2C) scholarships. Providers can list the scholarships on the KaraStar website and recruit scholars. KaraStar then rewards contributors with bonuses in the scholarship program.   To ensure the stability of token prices, KaraStar will regularly burn UMY. Specifically, the project aims to burn 80% of the UMY consumed in the game.   Who Created KaraStar (KARA)? KaraStar Technology PTE. LTD, a Singapore-based blockchain game developer, created KaraStar. The company has a rich team featuring game development engineers from Zynga and ROBLOX, seasoned blockchain experts, and Wall Street mathematical actuaries.   At the helm is CEO Dustin, who previously served as the Project Manager for Apple in the Asia-Pacific region. He also has experience in marketing, entrepreneurship, and blockchain mining, among other fields.   Kate Kryvonos serves as the company’s COO. She has over five years of blockchain marketing strategy and leadership experience. Before joining KaraStar, Kryvonos spent four years leading open-source blockchain and cryptocurrency projects like NEM.io Foundation Ltd and the Symbol blockchain.   The firm’s CTO is Kumar, who has experience working as a product manager and program developer for leading game companies like Zynga and Electronic Arts (EA). He has seven years of experience in game development and two years of experience in blockchain product development.   Closing Thoughts As a P2E metaverse game, KaraStar offers players a chance to stay entertained while earning. Additionally, the project’s Social-Fi capabilities allow gamers to connect across the globe. Coupled with a healthy economic model, these features help the project position itself for long-term success.   Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange_New Subscribe YouTube Channel >>> https://www.youtube.com/KuCoinExchange Download KuCoin App >>> https://www.kucoin.com/download Source: KuCoin
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

Blockchain - What Is It And How Does It Work? | Binance Academy

Binance Academy Binance Academy 26.05.2022 15:36
What is blockchain? In short, a blockchain is a list of data records that works as a decentralized digital ledger. The data is organized into blocks, which are chronologically arranged and secured by cryptography.  The earliest model of a blockchain was created in the early 1990s when computer scientist Stuart Haber and physicist W. Scott Stornetta employed cryptographic techniques in a chain of blocks as a way to secure digital documents from data tampering.  The work of Haber and Stornetta certainly inspired the work of many other computer scientists and cryptography enthusiasts - which eventually led to the creation of Bitcoin as the first decentralized electronic cash system (or simply the first cryptocurrency).   Although blockchain technology is older than cryptocurrencies, it was only after the creation of Bitcoin in 2008 that its potential started to be recognized. Since then, the interest in blockchain technology has been growing gradually, and cryptocurrencies are now being acknowledged on a larger scale. Blockchain technology is mostly used to record cryptocurrency transactions, but it suits many other kinds of digital data and can be applied to a wide range of use cases. The oldest, safest, and largest blockchain network is Bitcoin, which was designed with a careful and balanced combination of cryptography and game theory. Learn more on Binance.com How does blockchain work? In the context of cryptocurrencies, a blockchain consists of a stable chain of blocks, each one storing a list of previously confirmed transactions.  Since the blockchain network is maintained by a myriad of computers spread around the world, it functions as a decentralized database (or ledger). This means that each participant (node) maintains a copy of the blockchain data, and they communicate with each other to ensure that they are all on the same page (or block). Therefore, blockchain transactions occur within a peer-to-peer global network and this is what makes Bitcoin a decentralized digital currency that is borderless, and censorship-resistant. In addition, most blockchain systems are considered trustless because they do not require any kind of trust. There is no single authority in control of Bitcoin. A central part of almost every blockchain is the process of mining, which relies on hashing algorithms. Bitcoin uses the SHA-256 algorithm (Secure hash algorithm 256 bits). It takes an input of any length and generates an output that will always have the same length. The output produced is called a "hash" and, in this case, is always made of 64 characters (256bits). So the same input will result in the same output, no matter how many times the process is repeated. But if a small change is made to the input, the output will change completely. As such, hash functions are deterministic, and in the cryptocurrency world, most of them are designed as a one-way hash function. Being a one-way function means that it is almost impossible to calculate what was the input from the output. One can only guess what the input was, but the odds of guessing it right are extremely low. This is one of the reasons why Bitcoin's blockchain is secure. Now that we know what the algorithm does, let's demonstrate how a blockchain works with a simple example of a transaction. Imagine that we have Alice and Bob along with their Bitcoin balance. Let's say Alice owes Bob 2 Bitcoins. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM For Alice to send Bob that 2 bitcoin, Alice broadcasts a message with the transaction that she wants to make to all the miners in the network. In that transaction, Alice gives the miners Bob's address and the amount of Bitcoins she would like to send, along with a digital signature and her public key. The signature is made with Alice's private key, and the miners can validate that Alice, in fact, is the owner of those coins. Once the miners are sure that the transaction is valid, they can put it in a block along with many other transactions and attempt to mine the block. This is done by putting the block through the SHA-256 algorithm. The output needs to start with a certain amount of 0's in order to be considered valid. The amount of 0's needed depends on what's called the "difficulty," which changes depending on how much computing power there is on the network. In order to produce an output hash with the desired amount of 0's in the beginning, the miners add what's called a "nonce" into the block before running it through the algorithm. Since a small change to the input completely changes the output, the miners try random nonces until they find a valid output hash. Once the block is mined, the miner broadcasts that newly mined block to all the other miners. They then check to make sure that the block is valid so that they can add it to their copy of the blockchain and the transaction is complete. But in the block, the miners also need to include the output hash from the previous block so that all blocks are tied together, hence the name blockchain. This is an important part because of the way trust works in the system. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Every miner has their own copy of the blockchain on their computer, and everyone trusts whichever blockchain that has the most computational work put into it, the longest blockchain. If a miner changes a transaction in a previous block, the output hash for that block will change, which leads to all the hashes after it changing as well due to the blocks being liked with hashes. The miner would have to redo all of the work in order to make anyone accept his blockchain as the right one. So if a miner wanted to cheat, he would need more than 50% of the network's computing power, which is very unlikely. Network attacks like this are thereby called 51% attacks. The model of making computers work in order to produce blocks is called Proof-of-Work (PoW) there are also other models like Proof-of-Stake (PoS) which do not require as much computing power and are meant to require less electricity while being able to scale to more users.   Follow FXMAG.COM on Google News
Crypto Focus: Markets Continue to Ride the Downtrend

Crypto Focus: Markets Continue to Ride the Downtrend

8 eightcap 8 eightcap 27.05.2022 12:26
Another lower week traders as the top 10 and top 25 lost further gains continuing the current downtrend. If this week closes lower, that will set 8 weekly lower bars in a row. We discussed a few coins this week, emphasising continuation patterns that formed during the week. We did see some confirmations yesterday as sellers got things back on their terms in the European session. BTC fought back from lows abut sellers regained control on Friday’s session. AVAX was one of the significant coins hardest hit as it set new monthly lows. One positive is that the top 10 didn’t retest their May lows despite most hitting new weekly lows. As noted, buyers resisted the pressure with ranges and consolidations ruling before Thursday’s push lower. ETH seen to be dropping over merger frustration. Confidence drop? Guggenheim’s Scott Minerd once saw Bitcoin hitting $400,000. Now he says it’s more like $8,000. LUNA 2.0 blockchain was approved this week. After the fundamental weakness that we all saw with our own two eyes, we wish that any readers thinking about this should approach with caution and use strict risk management if they choose to go ahead. Ripple, on the other hand, has seen solid buying as price has declined. Reports say whales have been quietly accumulating the coin during this week’s declines and we can see this on the charts today. XRP is this week’s focus due to this buying. XRP caught our attention as it started edging into the positive while other coins continued to see red. Let’s take a look at the daily chart. Price continues to see support and demand from 0.38. We see two failed lows this month, and while price remains above the latter one, we will continue to look at it as a new HL. Price sits in a descending triangle pattern. A break higher, and this could be a new leg higher in the making. A break lower and we will look for the current downtrend to continue. The post Crypto Focus: Markets Continue to Ride the Downtrend appeared first on Eightcap.
Crypto Focus: Prices Sink Lower as Crypto Malaise Spreads

Crypto Focus: Prices Sink Lower as Crypto Malaise Spreads

8 eightcap 8 eightcap 17.06.2022 13:26
Hi traders, well, another week, another heavy extension lower. This week’s selling really struck home as levels not seen in a while were reached on some coins. The most selling was seen on the top this week as it lost 22% while the top 25 lost 20%. Plenty of mental pain was seen over the last week as coins like Bitcoin and Ethereum hit levels not seen since 2020. Bitcoin came very close to breaking 20K, and Ethereum just missed breaking 1K. Solana hit 25.77, just about retracing the entire 2021 move. Is it a bit late to say the market is internally sick? I feel it is a bit. Confidence looks shot, and this tends to remind me of 2017/2018. Is this different? Could we see a new rally that moves are a more sustainable speed? Or have stable coins shown a fundamental weakness in the crypto world that has drawn trust out of the crypto dream? Sorry to sound so dramatic, but if you compare Bitcoin now to Bitcoin in 2017, you will see some similarities. Sirin Labs has not followed the overall market trend as it has seen ridiculous gains over the last two days. Price looks to have been helped by news that a blockchain-backed smartphone backed by football superstar Lionel Messi is set to be released in November. The market looks to approval as price of SRNUSD has exploded by over 1200% in the last two days. The post Crypto Focus: Prices Sink Lower as Crypto Malaise Spreads appeared first on Eightcap.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Cryptocurrency Market From Scratch - Blockchain

Kamila Szypuła Kamila Szypuła 19.11.2022 15:40
Investments in cryptocurrencies are gaining more and more popularity, but at the same time, more and more people are quickly alienated from them after suffering losses. A lot of these losses are due to poor knowledge of the market and too little knowledge about the cryptocurrencies themselves. It is worth getting to know the instrument in which you invest your hard-earned money, which is why we present a glossary of the most important terms related to cryptocurrencies. Blockchain - what is it? Blockchain, is a technology that is used to transmit and store information about online transactions, i.e. it is something like a digital ledger of transactions. This information is arranged in the form of successive blocks of data. One block contains information about a certain number of transactions, then after its saturation another block of data is created, and so on. Most blockchain networks are designed as a distributed and decentralized digital ledger. Simply put, a blockchain is a digital ledger that is basically an electronic version of a paper ledger and is responsible for recording the list of transactions that take place within the network. The first application of this technology was the launch of the bitcoin cryptocurrency twelve years ago, the value of which is based on computing power. Moreover, the terms blockchain and bitcoin have long been (incorrectly) used interchangeably. When entering the world of cryptocurrencies and blockchain technology, it is important to understand the differences between these terms. Bitcoin is the first cryptocurrency ever created, and by the way, it is also the most famous and media cryptocurrency. Available to everyone Blockchain allows anyone to “own” the entire database of the system, thereby creating a distributed and decentralized ledger. Thanks to this solution, it is impossible to modify data, remove or add false information. A good example is Wikipedia, which is known to everyone. We all have easy access to it, and every slightest trace of modification remains saved - with the difference that the "administrators" of the blockchain system are all its users at the same time. So you know exactly when, who and how the content on each subpage was modified. The whole strength of the system lies in the trust in the technology that is its engine. Moreover, it is not a secret algorithm stored somewhere in highly guarded server rooms in the USA, but in a completely open source code that can be analyzed and checked by absolutely anyone with an average knowledge of software development. The using Any type of transaction can be stored in blockchain technology. Currently, blockchain technology is used to handle various commercial and financial transactions, but they also support e.g. trade or the electricity market. In the last one, blockchain is used to settle energy purchase and sale transactions between its small producers, e.g. households, and their customers, energy recipients, as well as dispersed e.g. electric cars. These transactions can take place outside the system that has been functioning for centuries - without the participation of public trust institutions, directly between the parties to the transaction. Future of Blockchain Blockchain technology can play a huge role in the economy and contribute to the development of the economy. The financial industry was the first to recognize the potential of blockchain. In 2015, the R3 consortium was founded by banks and FinTech companies, whose goal is to develop blockchain technology. Stopping only on the financial application of blockchain technology, we can talk about an extraordinary solution that strongly revolutionizes the existing order established in the economy. The growing importance of the blockchain may lead to a redefinition of the concept of trust, which until now was based on the authority of the institution, and will now be based on the strength of the cryptographic algorithm used in the system. It is difficult to say unequivocally whether such optimistic moods related to the development of blockchain technology will turn out to be correct. Strengths and weaknesses Like everything, blockchain has its strengths and weaknesses. The advantages can include: Because data in the blockchain network is most often stored on thousands of devices as part of the so-called distributed network of nodes, the system and the data itself are highly resistant to technical failures and attacks. Once data is recorded on the blockchain, it is very difficult to remove it from it or change its values. It is thanks to this feature that blockchain is identified as a great technology for storing financial records or other data where transparency is required. Blockchain eliminates the need for so-called intermediary, because transaction verification is handled by a distributed network of nodes in a process called mining However, the decentralized nature of blockchain technology also brings some disadvantages. For example, compared to traditional centralized databases, blockchain networks have limited performance and require significantly more memory resources to function properly. Another disadvantage of blockchain systems is that once data is added to the blockchain, it is very difficult to modify it. While data durability is one of the benefits of blockchain, it doesn't always turn out to be a good thing. Despite the disadvantages, blockchain technology has some unique advantages and will definitely stay with us for longer. There is still a long way to go before both us and the entire blockchain community to finally adopt the technology to the so-called main stream. What is important, however, in an increasing number of industries, there is a noticeable increase in interest in technology and dealing with its advantages and disadvantages. The coming years will probably result in a large number of experiments on the part of both companies and governments. Source: Omid Malekan „The Story of the Blockchain: A Beginner's Guide to the Technology That Nobody Understands”, Daniel Drescher „Blockchain Basics: A Non-Technical Introduction in 25 Steps”
Vega Protocol has seen an increase as the protocol is anticipated to go live

Blockchain: Layer 0 - what is it, how does it work, what problems can it solve?

Binance Academy Binance Academy 11.01.2023 12:57
TL;DR Layer 0 protocols are essentially the infrastructure upon which Layer 1 blockchains can be built. As a foundational layer to blockchain networks and applications, Layer 0 protocols are among many solutions aiming to fix the challenges the industry faces, such as scalability and interoperability.  Learn more on Binance.com Introduction What makes up a blockchain ecosystem? One way to categorize different parts of such an ecosystem is to classify them by layers, as if they were Internet protocols. A blockchain ecosystem can be classified according to the following layers:  Layer 0: The underlying infrastructure upon which multiple Layer 1 blockchains can be built. Layer 1: Base blockchains used by developers to build applications, such as decentralized applications (DApps). Layer 2: Scaling solutions that handle activities off Layer 1 blockchains to ease their transactional loads. Layer 3: Blockchain-based application layer, including games, wallets, and other DApps. However, not all blockchain ecosystems can be classified into these categories. Some ecosystems may miss certain layers, while others can be categorized as different layers, depending on the context.  Layer 0 protocols help to remedy the challenges faced by Layer 1 networks built with a monolithic architecture, such as the Ethereum network. By creating a more flexible base infrastructure and letting developers launch their own purpose-specific blockchains, Layer 0 hopes to more efficiently tackle problems such as scalability and interoperability.  What Problems Can Layer 0 Solve? Interoperability Interoperability refers to the ability of blockchain networks to communicate with one another. This property enables a more tightly interwoven network of blockchain-enabled products and services, which in turn offers a better user experience.  Blockchain networks built on the same Layer 0 protocol can interact with one another by default, without the need for dedicated bridges. Using different iterations of cross-chain transfer protocols, Layer 0 allows an ecosystem’s blockchains to build upon one another’s features and use cases. Some common outcomes of this are enhanced transaction speeds and greater efficiency. Scalability  A monolithic blockchain such as Ethereum is often congested because a single Layer 1 protocol is providing all the critical functions, such as transaction execution, consensus, and data availability. This creates a bottleneck for scaling that Layer 0 can alleviate by delegating these critical functions to different blockchains.  This design ensures that blockchain networks built upon the same Layer 0 infrastructure can each optimize certain tasks, thereby enhancing scalability. For example, execution chains can be optimized to handle high numbers of transactions per second.  Read next: API Key - what is it? Differences between API and API Key, best practices| FXMAG.COM Developer flexibility To encourage developers to build on them, Layer 0 protocols often provide easy-to-use software development kits (SDKs) and a seamless interface to ensure developers can easily launch their own purpose-specific blockchains.  Layer 0 protocols give developers great flexibility to customize their own blockchains, allowing them to define their own token issuance models and control the type of DApps they want built on their blockchains. How Does a Layer 0 Protocol Work? There are different ways in which Layer 0 protocols operate. Each differs in its design, features, and focuses. But generally, Layer 0 protocols serve as the main and primary blockchain backing up transaction data from various Layer 1 chains. While there are clusters of Layer 1 chains built on Layer 0 protocols, there are also cross-chain transfer protocols that enable tokens and data to be transferred across different blockchains.  The structures and relationships of these three components can differ greatly from one Layer 0 protocol to another. Here, we’ll look at some examples:  Polkadot Ethereum co-founder Gavin Wood designed Polkadot to allow developers to build their own blockchains. The protocol uses a main chain — called the Polkadot Relay Chain — and each independent blockchain built on Polkadot is known as a parallel chain, or parachain. The Relay Chain functions as a bridge between parachains to enable efficient data communication. It uses sharding, a method of splitting blockchains or other types of databases, to make transaction processing more efficient. Polkadot uses proof-of-stake (PoS) validation to ensure network security and consensus. Projects that want to build on Polkadot participate in auctions to bid for slots. Polkadot’s first parachain project was approved in an auction in December 2021. Avalanche Launched in 2020 by Ava Labs with a focus on DeFi protocols, Avalanche uses a tri-blockchain infrastructure consisting of three core chains: the Contract Chain (C-chain), the Exchange Chain (X-chain), and the Platform Chain (P-chain). These three chains are configured specifically to handle major functions within the ecosystem, in order to enhance security while aiming for low latency and high throughput. The X-Chain is used to create and trade assets, the C-Chain to create smart contracts, and the P-Chain to coordinate validators and subnets. Avalanche’s flexible structure also makes fast and cheap cross-chain swaps possible.   Cosmos Founded in 2014 by Ethan Buchman and Jae Kwon, the Cosmos network consists of a PoS blockchain mainnet called Cosmos Hub and customized blockchains known as Zones. Cosmos Hub transfers assets and data between the connected Zones and provides a shared layer of security.  Each Zone is highly customizable, allowing developers to design their own cryptocurrency, with custom block validation settings and other features. All Cosmos apps and services hosted in these Zones interact via the Inter-Blockchain Communication (IBC) protocol. This enables assets and data to be freely exchanged across independent blockchains. Closing thoughts Depending on how they are designed, Layer 0 blockchains can potentially address some of the industry’s challenges, such as interoperability and scalability. However, how successful Layer 0 blockchain adoption will be remains to be seen. There are many competing solutions aiming to achieve similar goals. How significant a role Layer 0 blockchains will play in solving the industry’s challenges will depend on their ability to attract developers to build on these protocols, and whether the applications hosted on them provide real value to users.  Further Reading What Is Layer 1 in Blockchain? Blockchain Layer 1 vs. Layer 2 Scaling Solutions What Is the Blockchain Trilemma?
National Australia Bank Is Driving Digital Economy Innovation By Creating The AUDN Stablecoin

National Australia Bank Is Driving Digital Economy Innovation By Creating The AUDN Stablecoin

Kamila Szypuła Kamila Szypuła 19.01.2023 13:20
National Australia Bank has become the second largest bank to create a stablecoin called AUDN to enable its business clients to settle blockchain transactions in real time using Australian dollars and highlighting the role of banks in driving innovation in the digital economy. Moreover, events in Davos continue to surprise and are constantly in the spotlight. In this article: Greta Thunberg accuses the political and business elite Another difficult year for the construction industry? AUDN- Stablecoin Created By National Australia Bank Greta Thunberg accuses the political and business elite Greta Thunberg is a Swedish environmental activist who is known for challenging world leaders to take immediate action for climate change mitigation. Now she has presented her activities in Davos. The four climate activists arrived in Davos after writing an open letter to the CEOs of fossil fuel companies via the Avaaz non-profit website. Thunberg, Nakate, Gualinga and Neubauer called on the leadership of the energy giants to immediately stop opening new oil, gas or coal extraction sites. Swedish climate activist Greta Thunberg accused the political and business elite at the World Economic Forum in Davos, Switzerland on Thursday of putting their own interests and short-term profits ahead of people and the planet. Greta Thunberg says Davos prioritizing greed and short-term profits over people and planet https://t.co/DEyzDTN6jv — CNBC (@CNBC) January 19, 2023 Another difficult year for the construction industry? The construction industry was and is one of those most affected by the fight against inflation. The prices of raw materials grew at a significant pace. As a result, sales increased. Expectations are not too good for this year either. Geberit expects 2023 to be a challenging year for the European construction industry. Rising interest rates led to a decline in sales in this market, as most preferred to renovate rather than buy a new home. Pipemaker Geberit sees tough 2023 for Europe's builders after sales dip https://t.co/HstnO8Ork6 pic.twitter.com/xrJ2lIgFBL — Reuters Business (@ReutersBiz) January 19, 2023 AUDN- Stablecoin Created By National Australia Bank The continued interest of banks in blockchain technology to improve financial markets infrastructure comes despite the 2022 horror for crypto markets, culminating in the collapse of crypto exchange FTX. The cryptocurrency market is constantly evolving. New ones appear. Now one of Australia's major banks, National Australia Bank, has announced the launch of the AUDN stablecoin. According to information, AUDN will be based on ethereum and blockchain algorithm. The stabeecoin will enable users to make real-time payments in blockchain technology, using the country's currency - the Australian dollar. AUDN will probably be rolled out in the middle of this year. Furthermore, NAB and ANZ work closely with financial regulators when stablecoin rules are developed. Reserve Bank Chairman Philip Lowe said last month that stablecoin regulation must be a priority and should be treated like bank deposits.The government is considering a cryptocurrency regulation regime, but it is unclear whether stablecoin regulation will be part of the original law. NAB and ANZ are not the only local players developing Australian dollar stablecoins. Another cash-backed stablecoin, AUDE, was created by non-bank company Ettle and was also introduced late last year, including to the retail market. NEWS: National Australia Bank (@NAB), one of the largest Australian banks, has created a stablecoin called AUDN.📰 https://t.co/iJVTndtwvR pic.twitter.com/8wpzFzA8Jg — CoinGecko (@coingecko) January 19, 2023
Futuristic business-art atmosphere awaits you at #NFTSE 2023!

Futuristic business-art atmosphere awaits you at #NFTSE 2023!

Finance Press Release Finance Press Release 27.02.2023 14:42
From July 14th to 15th 2023, the Spanish city of Valencia will host the second edition of NFT Show Europe, one of the world leading events on web3, Blockchain, Metaverse, Virtual Reality and Digital Art. An international meeting point for experts to share their insights on the next era of the internet in a futuristic business-art atmosphere. Designed as a B2B event, the main goal of the organization is to foster international collaboration among participants. All this surrounded by NFT and digital art galleries, exhibiting world-class artists work with the most advanced technology of the moment. #NFTSE has already received more than 3000 waitlist registrations. #NFTSE 2023 gathers some of the most influential companies and artists to discuss the latest trends and developments. A major boost for the web 3.0 industry, fostering new partnerships and collaborations, which help to solidify its position as a major meeting point in this world. Among the contents offered in the conferences we can find important names such as Epic Games, Niantic, Animoca Brands, Unicef, Vogue Business, United Nations, UNICEF, Alpine F1, Hugo Boss, Zepeto, Xceed Renault and Digital Fashion Week, among others. With an international audience from 59 countries and more than 2300 visitors during #NFTSE22, the organization forecasts a major increase, consolidating #NFTSE as the main meeting point for web3 related companies and experts, blockchain innovators, data analysts, investors, early adopters, digital artists and collectors. “From our stakeholders’ feedback, more than 85% of them exceeded their expectations in terms of return on investment. We treat every single one of our stakeholders as a person / group of people. We work for our community to boosting their business relationships and opportunities.” claims Oscar Rico, CEO @ NFT Show Europe The venue, the City of Arts and Sciences, is an internationally recognized cultural and architectural complex. Located in the green heart of Valencia, the old Turia riverbed, it is the most important modern tourist destination in the city of Valencia and one of the 12 treasures of Spain. The waitlist for #NFTSE 2023 is now live and it grants early access and an exclusive discount for the ticket sale launch. More about NFT Show Europe #NFTSE NFT Show Europe is one of the world leading events on web3, Blockchain, Metaverse and Digital Art. An international meeting point for experts to share their insights on the next era of the internet in a futuristic business-art atmosphere. Links: #NFTSE 2023 Official Trailer: Website: https://nftshoweurope.com/Twitter: @nftshoweurope
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Microsoft is partnering with Ankr - decentralised blockchain infrastructure firm

Crypto.com Accelerate the... Crypto.com Accelerate the... 01.03.2023 12:49
Ethereum’s second testnet was successfully activated. Decentralised perpetual exchange Fulcrom Finance is live. Solana suffered a 20-hour outage with the root cause still unknown. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -1.96%, -22.18%, and -6.94%, respectively.         Yearn Finance (YFI) developers announced that they will soon launch a liquid staking product called yETH, enabling users to gain exposure to a basket of liquid staking derivatives via a single token. New Project Spotlight Decentralised perpetual exchange Fulcrom Finance is live. Built on the Cronos blockchain, it enables users to trade with up to 25x leverage while enjoying low fees and negligible price impact. Visit the Fulcrom website to learn more.         News Highlights Ethereum developers have successfully activated the Shanghai-Capella upgrade on the Sepolia testnet. The upgrade will be released to the Goerli testnet as a final run-through before the full launch on the mainnet next month.  After more than 150,000 ETH were staked with Lido Finance in a single day, a safety precaution known as ’staking rate limit’ for the liquid staking protocol was activated.  Tech giant Microsoft is partnering with decentralised blockchain infrastructure firm Ankr to provide an innovative node hosting service that will become available on the Microsoft Azure Marketplace. The partnership will see an integration of both companies’ technologies, pairing Ankr’s innovation in blockchain infrastructure with Microsoft’s cloud solutions.  Web3 infrastructure firm Jump Crypto and DeFi platform Oasis.app carried out a “counter exploit” on the Wormhole protocol hacker after receiving an order from the High Court of England and Wales. They recovered US$225 million in digital assets, which were moved to a secure wallet.  A number of the Polygon blockchain’s nodes went out of sync on Wednesday, leading to a chain reaction of issues that affected performance and caused the widely used blockchain explorer PolygonScan to go offline.  The Solana blockchain suffered a 20-hour outage over the weekend, forcing its validators to restart the network twice after on-chain activity froze. According to its developers, the reason for the network-wide outage is still unknown and inquiries are underway. The algorithmic backing for the DeFi protocol Frax Finance was removed after a community vote to fully collateralise the protocol’s native stablecoin Frax (FRAX) was passed. MyAlgo, a native wallet for the Algorand blockchain network, advised its users to withdraw their funds. This was in response to a $9.6 million exploit that it encountered last week, which affected 25 wallets. Read next: Some McDonald's Locations Don't Promote Hip-Hop Stars' New Meal| FXMAG.COM     Research Roundup Newsletter [January 2023]: In our latest issue, we feature market insights and our research on artificial intelligence trends, the rise of AI-generated content, and their applications in blockchain and Web3. Alpha Navigator: Quest for Alpha [January 2023]: Crypto outperforms other asset classes in January by a large margin. BTC options put-call ratio are at a yearly low, implying a positive sentiment shift. AI-Generated Content and Applications in Web3: Artificial Intelligence-Generated Content (AIGC) has taken the world by storm recently, with popular applications like ChatGPT and DALL-E. We analyse its potential applications in Web3. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES
The Changing Views of Peter Schiff: From Bitcoin Skeptic to Blockchain Enthusiast.

The Changing Views of Peter Schiff: From Bitcoin Skeptic to Blockchain Enthusiast.

InstaForex Analysis InstaForex Analysis 30.05.2023 09:27
Crypto Industry News: Peter Schiff, a well-known economist and investor, has supported blockchain and NFT technology. Given his previous positions on digital assets, Schiff unexpectedly expressed his enthusiasm on Twitter for a new art project.   Schiff expressed his excitement about collaborating with Market Price on a joint work that would combine conventional elements of art with blockchain. The goal of these efforts is a unique work of art called "Golden Triumph".   Art lovers and collectors will also be able to purchase a set of prints that have been permanently stored on the Bitcoin blockchain. Given Schiff's long-standing distrust of this technology and cryptocurrencies, this news came as a shock to many. His support for Bitcoin shows how his views on the convergence of art, technology and investing are changing. Schiff has repeatedly said that Bitcoin is a "bubble" with no intrinsic value that will soon burst.   The economist claimed that Bitcoin and most cryptocurrencies are not real currencies and are too volatile. Schiff's recent tweets on blockchain and NFT seem to contradict his earlier position. In 2021, he questioned the value of owning a digital NFT image. The fact that Schiff is now involved in a work of art using blockchain technology is proof that he appreciated the unique features of this technology and its practical applications.   Technical Market Outlook: The ETH/USD pair has broken below the short-term technical resistance located at the level of $1,865 and made a local high at the level of $1,928. The local low was made at the level of $1,874, but the market is still under the bullish pressure.   The momentum is strong and positive on the H4 time-frame chart, however, the bulls hit the extremely overbought level, so a pull-back is welcome. The bigger time frame trend remains down.
Cryptocurrency Market Sell-Off: Bitcoin Below Key Average, Potential for Big Sell-Off to $22K Looms ! Bitcoin looks set to take a severe dive

Cryptocurrency Market Sell-Off: Bitcoin Below Key Average, Potential for Big Sell-Off to $22K Looms ! Bitcoin looks set to take a severe dive

Alex Kuptsikevich Alex Kuptsikevich 06.06.2023 11:49
Market picture The cryptocurrency market hit a sell-off on Monday night, losing 3.8% in the last 24 hours, down to a capitalisation of $1.091 trillion - near almost three-month lows.   Bitcoin is losing 4% to 25.7 over this period; Ether is losing 3% to $1814, with top altcoins losing between 3.7% (Tron) and 7.9% (BNB).   The sharp move down has pushed Bitcoin's price below its 200-week average ($26.3K). And now all the attention of position traders is focused on whether the price returns to territory above that line before the end of the week. If not, we should be prepared for a big sell-off down to $22K. This is the main working scenario, given the series of lower highs and lower lows over the past two months.   An alternative and less likely scenario would be a reversal to the upside after a brief dip below the 200-week average. This dynamic could assert that big players are gaining on Bitcoin at this level, suggesting considerable upside potential.   According to CoinShares, investments in cryptocurrencies fell by $62M last week, the 7th week of outflow. Bitcoin investments fell by $3m, as did Ethereum. Tron, a smart contracts platform, saw a $51m outflow over the week due to the closure of the offering by one of the providers.     News background According to Bloomberg strategist Mike McGlone, Bitcoin won't be able to show significant growth in the summer months. He also doesn't rule out a substantial drawdown in the crypto market amid a halt to change and a stagnant equity market.   According to The Block, bitcoin's 30-day average volatility on a year-over-year basis has fallen from the asset's characteristic average of 71% to 32%. The famous Meta and Amazon stocks have overtaken digital gold on this measure.   The US Securities and Exchange Commission (SEC) has sued cryptocurrency exchange Binance and its CEO Changpeng Zhao. The regulator brought 13 charges, including unregistered offers and sales of BNB and BUSD tokens, Simple Earn and BNB Vault products, and staking.   JPMorgan will speed up interbank transactions in India using blockchain. The financial giant has agreed with five Indian banks to implement its blockchain-based Onyx settlement platform.
Russia's Weekend Mutiny and Gold's Bounce off Support Raise Concerns; Verbal Intervention in USD/JPY and US Banking Stocks Tumble Ahead of Fed's Stress Test Results

Nike Partners with AntChain for Blockchain-Based Shoe Tracking: Eliminating Counterfeits and Ensuring Authenticity

InstaForex Analysis InstaForex Analysis 22.06.2023 13:44
Nike has entered into an agreement with the Chinese company AntChain to use its solutions based on blockchain. They are to be used to track shoes (and their users) that Nike equips with chips embedded in the sole For some time, however, some varieties of Nike shoes have been distinguished by chips in the sole, the purpose of which is to trace the origin of the shoes in order to be able to recognize and eliminate counterfeits at any time. It does not stop there.   Last Sunday, June 18, Nike announced a partnership with AntChain, a company belonging to the Alibaba group. The partnership is to use blockchain-based AntChain solutions to track Nike shoes. What's more, the chips in the soles are also supposed to contain dynamically encrypted NFC chips, so that tracking can be done remotely. Interestingly, Nike has its own blockchain solutions, but concentrates their use in other areas. AntChain, on the other hand, offers its blockchain in a spine-chilling formula called Traceability as a Service (TaaS). Given the state of privacy protection in the Middle Kingdom, it is not surprising that this company can be considered an expert in the field of tracking.         Technical Market Outlook: The ETH/USD pair hit the key technical resistance located at the level of $1,930 after a 19% rally from the last swing low. The intraday technical support is seen at the level of $1,777. The market conditions are extremely overbought on the H4 time frame chart, so please keep an eye on this level as the pull-back can haapen any time now.  
Resilient UK Economy in May Points to Promising Outlook

Nike Partners with AntChain for Blockchain-Based Shoe Tracking and Counterfeit Prevention

InstaForex Analysis InstaForex Analysis 22.06.2023 13:56
Nike has entered into an agreement with the Chinese company AntChain to use its solutions based on blockchain. They are to be used to track shoes (and their users) that Nike equips with chips embedded in the sole For some time, however, some varieties of Nike shoes have been distinguished by chips in the sole, the purpose of which is to trace the origin of the shoes in order to be able to recognize and eliminate counterfeits at any time. It does not stop there.     Last Sunday, June 18, Nike announced a partnership with AntChain, a company belonging to the Alibaba group. The partnership is to use blockchain-based AntChain solutions to track Nike shoes. What's more, the chips in the soles are also supposed to contain dynamically encrypted NFC chips, so that tracking can be done remotely.   Interestingly, Nike has its own blockchain solutions, but concentrates their use in other areas. AntChain, on the other hand, offers its blockchain in a spine-chilling formula called Traceability as a Service (TaaS). Given the state of privacy protection in the Middle Kingdom, it is not surprising that this company can be considered an expert in the field of tracking.   Technical Market Outlook: The ETH/USD pair hit the key technical resistance located at the level of $1,930 after a 19% rally from the last swing low. The intraday technical support is seen at the level of $1,777. The market conditions are extremely overbought on the H4 time frame chart, so please keep an eye on this level as the pull-back can haapen any time now.
RBI's Strategic INR Support: Factors Behind India's Stable Currency Amidst Global Challenges

Instacart Prepares for IPO with Sharply Reduced Valuation, Meta Boosts AI Arsenal, and Earnings Rally Fuels Optimism: Weekly Market Roundup

FXMAG Education FXMAG Education 11.09.2023 13:05
In today's fast-paced and ever-changing economic landscape, staying informed about the latest market developments is crucial for both seasoned investors and those just venturing into the world of finance. Within a matter of hours, events can unfold that turn global markets upside down and shape the course of investment decisions. Therefore, keeping abreast of key economic and financial news is essential for making informed investment choices. In this article, we will delve into the most significant events and insights in the realms of finance, technology, and investments that have dominated the landscape in recent times. We'll explore why Instacart, a popular grocery delivery platform, has chosen to lower its valuation ahead of its planned initial public offering (IPO), how Meta (formerly Facebook) is actively developing a potent artificial intelligence (AI) system, and what the surge in earnings estimates means for the potential market rally in 2023. We'll also delve into President Joe Biden's skepticism regarding China's capacity to invade Taiwan amidst economic challenges and the implications of Daniel Zhang stepping down from his role as the CEO of Alibaba Group's cloud division. Furthermore, we'll discuss the resurgence of hedge funds in the crude oil market and provide a summary of key events in global stock and cryptocurrency markets. Additionally, we'll highlight upcoming earnings reports from companies such as Oracle, Cracker Barrel, Adobe, and Lennar, which have the potential to influence stock prices. By reading this article, you will stay well-informed about the most critical economic events currently shaping the world of finance and technology. We encourage you to regularly monitor the market and subscribe to The Information, a source that keeps you up-to-date with the most significant developments in the business world.   Instacart Aims for IPO with Reduced Valuation: Grocery delivery service Instacart is reportedly targeting an initial public offering (IPO) with a valuation between $8.6 billion to $9.3 billion. This valuation is significantly lower than its 2021 valuation of $39 billion. The move reflects a more conservative approach to valuation as the company prepares to go public. Meta Develops More Powerful AI System: Meta, the parent company of Facebook, is working on developing a new and more powerful artificial intelligence (AI) system. This development comes as the technology race in the AI field continues to escalate. Meta's efforts in AI aim to enhance its products and services across various platforms. Earnings Estimates on the Rise: Earnings estimates are on the rise, signaling positive prospects for a potential market rally in 2023. Increasing earnings estimates are often viewed as a positive indicator for investor confidence and market performance. This trend may contribute to a more optimistic outlook for the coming year. Biden Expresses Doubt Over China's Ability to Invade Taiwan: U.S. President Joe Biden has expressed skepticism regarding China's ability to launch an invasion of Taiwan amid economic challenges. This statement reflects ongoing geopolitical tensions and the strategic importance of Taiwan in the Asia-Pacific region. Daniel Zhang Steps Down from Alibaba's Cloud Business: Daniel Zhang, the CEO of Alibaba Group Holding, has stepped down from his role overseeing the company's cloud business. This move may have implications for the leadership structure within Alibaba and its cloud computing division. Hedge Funds Return to Crude Oil: Hedge funds that were previously impacted by a decline in oil prices have reentered the crude oil market. This renewed interest in crude oil suggests changing market dynamics and investment opportunities in the energy sector. Market Highlights: U.S. stocks saw modest gains on Friday but recorded a losing week due to concerns about potential Federal Reserve rate hikes. Asian stocks experienced declines following lower-than-expected Q2 GDP numbers from Japan. Kroger reported mixed Q2 results, missing sales expectations but beating analyst-adjusted earnings estimates. Notable companies reporting earnings this week include Oracle, Cracker Barrel, Adobe, and Lennar. Crypto Corner: JPMorgan Chase is exploring a blockchain-based digital deposit token to expedite cross-border payments and settlements. G20 leaders are pushing for the swift implementation of a cross-border framework for crypto assets. Stay updated on these market developments and more by subscribing to The Information.    

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