Calamari Network to be Released on Kusama: KMA Listed on KuCoin

Calamari Network, built on the Substrate framework, is running as a canary net on Manta Network. This is a big milestone for the Calamari Network, and will lead to faster progress for the project.

On November the 29th, KuCoin listed the Calamari token (KMA) and open the KMA/USDT trading pair!

The canary net is a test environment on the Kusama blockchain for projects that operate on Polkadot. Running on Kusama, several new and exciting features will be tested before its final release on the Polkadot chain.

Calamari is now the 7th real-world parachain on Kusama, and the only plug and play privacy preservation parachain to perform for the whole Kusama chain. The same will be done for Polkadot by Manta Network soon.

Privacy to transactions and swapping are guaranteed by the zkSNARKs private layer, built for the entire Kusama DeFi ecosystem.

This zkSNARKs private layer offers leverage for scalable privacy, and its Substrate framework delivers leverage for interoperability.

Also, two assets benefit from transactions and swapping, due to a private decentralized exchange (DEX), and a private payment option.

New Tools Are Here

As a part of this new launch, there are some tools that will also hit the markets with the network.

  • MariSwap: This feature will guarantee the privacy of the users´addresses while swapping parachain assets. Like a private AMM-based DEX. The Manta Network delivers the same service as Manta Pay in Polkadot, plus unique options like a private liquidity pool.
  • MariPay: Supports private transfers with Kusama parachain assets. This includes well known tokens that can be used in the Kusama chain. Other benefits are on-chain privacy through ZKP, and transactions of popular assets just like any stablecoin, or wrapped cryptocoins like BTC.

Who is Taking This to Market?

Based in Boston USA, the same team that developed Manta Network is responsible for creating Calamari Network.

Over 30 people experienced in various fields and from different backgrounds, working in both projects.

Privacy is still their main objective, while handling the challenges of developing high standard services, for more and more demanding users around the world.

What is the KMA token?

The KMA native utility token in the Calamari world.

Users are rewarded with KMA tokens through MariPay and MariSwap usage fees, rebates, and a redemption mechanism. Morestill, it has extended other functions and it’s also used for governance. A burn function for redemption is included.

The KMA token has a community-first driven philosophy. Parachain Loan Offering (PLO) users were rewarded with up to 30% of the project’s total supply. This mechanism helps Calamari Network secure a solid and widespread parachain.

There are no tokens being held for the team, and KMA tokens were not sold in a private sale.

There’s also a 10% bonus of KMA tokens for the first 500 supporters, a 5% bonus for the 501th to the 1,000th supporters, and a 2.5% bonus to referrers and referred supporters. Plus a significant 10,000 KMA reward for every 1 KSM.

Keep an Eye on The Calamari Network

Calamari Network goes fine on the entire Kusama DeFi world, and it also offers interoperability with other parachains.

It offers security in three different areas, by privatizing all tokens, private swaps on MariSwap, and private transactions on MariPay. The platform is also keeping its roadmap transparent and open for public viewing.

Its skilled teams of developers are stress testing all of the features, before its final release on the Manta Network on Polkadot, so that users will have a smooth and reliable experience.

There is bound to be more coming from the Calamari Network. It uses some of the best technology out there, and is developing rapidly.

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EIP-4488: Vitalik Buterin Makes Proposal to Address Ethereum’s Transactional Costs

Ethereum

High transactional costs are always one of the biggest challenges Ethereum users are struggling to deal with.

The team and community have waited in expectation of Ethereum 2.0’s release as the ultimate solution for current issues with the system.

Despite all promises, data from crypto metrics site BitInfoCharts shows that the future outlook might not be as rosy as it’s going to be unless change is underway.

Ethereum’s Growing Problem

Up until now, high gas fees have remained a specific feature of the Ethereum network. According to statistical data from BitInfoCharts, the transaction fee reached $51.45 on average.

This unbelievable level was much higher than at the beginning of 2021.

Several scaling strategies have been developed in recent years to help reduce transaction costs.

Polygon was released in 2019 and is perhaps the first big Ethereum scaling solution. With Plasma, the network offloads transactions from the main Ethereum blockchain to a sidechain.

This year, Ethereum-based DeFi apps like Curve and Aave launched on Polygon.

Polygon’s inexpensive costs have attracted users, however it is often criticized for not being a proper scalable solution. Polygon employs a PoS consensus with its own set of validators.

That means that Polygon does not use Ethereum’s mainnet to validate transactions, so it is generally considered less secure and decentralized.

In an effort to optimize the gas fee and make it budget-friendly, Ethereum’s co-founder Vitalik Buterin made Ethereum Improvement Proposal, called EIP-488, as a way to reduce gas fees for Ethereum Layer-2 in the short term.

EIP-4488: Efficient But Temporary

Gas fees will continue to soar, especially when the demand for Ethereum is growing.

While network scaling solutions such as Ethereum 2.0 are being rushed to completion, L2 solutions are seen as a salvage in this short-term period.

In order for L2 solutions not to be overwhelmed and follow in the footsteps of the Ethereum mainnet, it’s necessary to have solutions to reduce fees. That is when the idea of EIP-448 jumps in.

Clearly, EIP-4488 is radically different from the proposal to burn ETH on EIP-1559. The main purpose of EIP-4488 is to assist in reducing transaction fees on the Ethereum network’s L2 solutions.

Vitalik Buterin, together with Ethereum developer Ansgar Dietrichs, made this proposal to reduce L2 gas fees in the short term while more efficient long term solutions are still being developed.

EIP-4488 seeks to further reduce L2 gas charges by reducing calldata costs.

According to Vitalik, increasing the amount of data available today with rollup solutions is possible. Buterin also called for a shift to focus on rollup solutions and see it as a short-term solution to cut gas costs.

To wit,

“The cost of rollup txns is a function of the data they post back to the Ethereum mainnet..If a rollup compresses X transactions and pays Y gas fees to commit it to mainnet, the cost of rollup transactions is a function of Y/X. To do this, rollups add calldata to their transactions, which is currently priced at 16 gas per byte. If we reduce the calldata cost, then we reduce the cost of rollup transactions.”

Rollups are the latest scaling solution to make waves in the Ethereum world. A smart contract interacts with a transaction on Ethereum. The restricted block space in Ethereum causes sluggish transaction confirmations and costly gas prices.

Rollups outsource data computation and return valid proofs to the Ethereum mainnet. Because transactions can be pooled, less data is committed to the mainnet.

The gas charge is then split evenly among multiple consumers. Rollup delivers near-instant transaction speeds and reduces costs by several times while maintaining the Ethereum mainnet’s security and decentralization.

EIP-4488, in accordance with Optimistic Rollups and ZK-Rollups, is possible. However, this method will probably lead to another problem – the block size.

“It’s literally data we add to each transaction. If we lower the gas cost, and keep the same gas limit, we then have bigger blocks, which can be problematic in the short and long term. Short term, it increases the worst case block size,” according to Vitalik.

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Starly: NFT-Focused Marketplace Where Users Can Create, Buy, & Sell Gamified Collectibles

Back in 2020, NFTs were one of the most exciting emerging trends in blockchain.

The growth of NFTs in the crypto market is exploding in 2021, with numerous new projects and NFT-focused firms entering the market.

Starly is an NFT-focused marketplace where users can create, buy, and sell gamified collectibles.

The platform aspires to be a launchpad for NFT projects – a space where game artists, developers, investors, and audiences can easily connect and collaborate to build blockchain economies.

In the field of digital asset ownership, NFTs have developed extremely powerful use cases.

NFTs’ unique properties make them useful in a variety of fields, including art, gaming, entertainment, film, and sports.

Along with NFT’s potential, the ecosystem requires platforms that facilitate NFT merchandise. The emergence of NFT marketplaces was prompted by this need.

What is Starly?

Starly is built and designed almost entirely in accordance with current market trends, resulting in a large liquidity source for a large number of NFTs in both the Crypto and Non-Crypto markets. Starly is essentially an Amazon for NFTs, with millions of properties.

Starly is developing a decentralized NFT marketplace to allow artists to create and sell encrypted works of art to the public as part of its mission to bridge the gap between digital creators and their audiences.

Other marketplaces, such as OpenSea, are not like Starly. Currently, the marketplace focuses on a gamified niche created by Starly users, whereas OpenSea aggregates and displays products from a wide range of sectors and industries.

NFT marketplaces are one of the most significant points that have grown strongly in this wave of NFT development.

They have evolved into the most important foundation for many individuals and projects.

Understanding the market’s actual needs, a team of experienced blockchain members researched, built, and developed the Starly marketplace with the goal of supporting and developing creators while also bringing value to participants..

Starly’s launch is the culmination of a 6-month period of intense research and development. The team’s primary goal is to fill a void in current NFT marketplaces by providing true value and comprehensive solutions for creators and audiences.

Each NFT collectible on the platform comes with three sets of cards: Common, Rare, and Legendary.

Each package contains 11 cards, which are distributed at random. The Common set contains three common cards, the Rare set contains one rare card and three common cards, and the Legendary set contains one rare card, three common cards, and one legendary card.

Basically, it is a lot like a traditional trading card game. Collecting these cards is most likely the next generation of collectible card games.

Aside from the monetary value, Starly appears to be resurrecting a form of entertainment that has existed for a long time in the world. Games are released as large pre-designed collections based on certain content, often referred to as a set.

Taking it to The Next Level

The creator releases a collection that includes a collection of cards representing different attributes.

Players can collect and add the cards to their own collection. One of the most thrilling parts is when the pack is unwrapped and the cards reveal themselves.

This is what sets Starly apart from other platforms, by focusing not only on creators’ benefits but also on the audience’s experience when interacting with their purchased collectibles.

Collecting NFT cards is just the beginning.

After that, collectors can engage in the marketplace, browse items from other collectors and buy/exchange their cards to complete their full sets. They can also sell their cards.

High-level collectors are recognized and rewarded by the creator when they reach key collecting milestones along the road. Starly uses this interaction as a primary catalyst for taking the relationship between collectors and creators to a new level.

Starly unlocks a world of extraordinary benefits for both creators and audiences.

The most significant advantage is that transactions on the platform are processed quickly and transparently in the form of a smart contract, without the need for any intermediaries.

The marketplace also has advanced security features that limit the risks associated with participants’ assets and wallets. Users will have complete ownership of the NFTs purchased on Starly. Members and creators can also be inspired, creative, and recognized by NFTs.

How Starly Works

It’s easy to get started with Starly. Log in with your Google, Twitter, Facebook, or WeChat account to use the platform.

You will be directed to your account profile by the platform. You can change your profile picture and fill in your username, name, and email address.

However, because the marketplace is still in its early innings, creators must contact the team via email if they want to reserve a spot on the platform.

To get started, creators must connect the system to one of their social media accounts (Instagram, Twitter, or YouTube).

The goal is to verify and confirm that the required minimum number of followers has been reached. Creators can now create their own NFT collections once the number meets the requirement.

Starly will walk you through the collection building process step by step. Creators, on the other hand, have complete control over the creation of graphic elements as well as the provision of explanations.

The final step is to set a price for the collection and make it available for purchase. The Collection’s online storefront will be accessible to anyone. They can now use it to promote it to their existing fan base.

Fans, art lovers, and collectors can gain access to the collection via social media engagement posts from their favorite creators and influencers on their preferred platforms.

A Social Experience

People can be reached through social media channels, which is an excellent way to introduce them to the products. Users are guided through the STARLY immersive experience of collecting, owning, and trading by a relatable mediator.

The most exciting part is opening the pack and revealing the cards within. When cards are exposed, the collector is aware of the cards he or she owns as well as the serial numbers printed on them.

Card serial numbers are important in the game because they determine the value of a card. Collectors can sell their cards for a profit or buy cards from the marketplace to complete their favorite collection.

Key Features

STARLY Token

The STARLY token serves as the governance token in the Starly ecosystem’s NFT environment. STARLY tokens have a total supply of 100 million. 54.2 % of the supply is distributed at the discretion of the team, 25.05 % is allocated to the growth of the Starly community, and the remainder is distributed to investors.

Users can access various platform services and benefits by holding STARLY tokens. Holders, for example, have the opportunity to be among the first to access new drops, feature their preferred collection, join the affiliate program, receive unique badges, receive a payback on their purchases, receive VIP customer support, and participate in private purchases.

The rewards are determined by the number of tokens a user has, which is also used to classify membership tiers including Silver, Gold, and Platinum.

Flow Blockchain-Based Marketplace

Starly is powered by Flow blockchain – a trusted infrastructure powers things like NFT collectibles and large-scale crypto games.

The layer-one blockchain is designed to facilitate the next generation of applications, games, and digital assets and leverage independent developers, leading organizations, and complementary infrastructure partners.

Built on Flow, Starly will inherit major advantages of this blockchain.

Flow’s core architecture is unique. It allows the Starly network to scale to serve billions of users without decentralization or decentralized consensus. With safety-driven programming, Starly ensures users to immerse a safer and faster programming environment specially designed for digital assets and smart contracts.

Another major highlight is the developer-driven ergonomics. As for Starly, the platform is created to make issuing and collecting NFTs completely safe, fast and efficient.

Ultimately, Starly is a promising project, a one-of-a-kind NFT marketplace with a one-of-a-kind structure.

Because there are so many NFT marketplaces in operation, Starly must demonstrate that it not only has a unique system, but that its value and benefits are strong enough to attract the community and stand still in this competitive space.

To learn more about Starly, please click here!

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PhotoChromic: Biometrically Managed Self Sovereign Identity on the Blockchain

PhotoChromic is an innovative platform that enables its users to create and manage their own identity to operate on software services, blockchain networks and Dapps.

If you are familiar with the concept of Non Fungible Tokens, then you’ll find PhotoChromic’s solution simply genius.

PhotoChromic allows users to securely create, own and verify their identity through a tokenized NFT. These NFTs are globally addressable, programmable and allows its owner to access additional opportunities in the crypto DeFi marketplace.

Download the Whitepaper here (PDF)

PhotoChromic ID for NFTs and More

PhotoChromic conceived their verification identity solution by aggregating biometric proof-of-life data with officially-backed identity info (government identity records) and personal attributes.

These components merge on an on-chain asset (NFT), that will consequently grant it’s owner access to blockchain platforms requiring identity verification and Web3 applications.

Users of PhotoChromic’s platform can independently manage their online identity with robust security. Users’ physical and digital assets will be allocated to a unique biometric identity, attested by PhotoCromic’s immutable protocol.

Initially, the multi-chain PhotoChromic protocol is running on Ethereum, Polygon (MATIC) and Cardano, but value-added benefits and business opportunities will multiply after the PhotoChromic protocol deploys over more key blockchains.

PhotoChromic’s Founders, Origins & Notable Milestones

Both founders at PhotoChromic’s share a profound experience in online identification and verification processes. The two gentlemen have different technological backgrounds and careers yet both have in common a deep knowledge in the identity platforms specialization.

A Closer Look to the TEAM:

Murray Legg

Ph.D (Biomed Eng); B.Eng (Hons) (Mech Eng); Power30Under30; Investment Banker; VC funded Entrepreneur; TEDx presenter; Ironman finisher.

Murray executed a variety of projects for companies of a wide range of industries, gaining experience and personal recognition in his specialization.

His working experience includes being involved with investment banking, digital communication systems, biomedical engineering and even education and biz-training in China’s, Middle East’s and India’s finance systems.

The three main projects Murray co-founded are Penguin Tutoring, an education and training organization with franchises in the USA and across South Africa; Retroviral Digital Communications, which won in 2013 the PRISM’s Best PR Agency award; and Webfluential, a successful influencer sales & marketing platform.

Gur Geva

With a Masters in Business Administration from the University of Witwatersrand in Cape Town, South Africa, Gur is also the founder and CEO of iiDENTIFii, which gave him a personal recognition of expert in digital identity, biometric authentication, AI (artificial intelligence) and ML (machine learning).

In South Africa, iiDentifii has enabled Tier 1 banks like Standard, Investec and ABSA banks to initiate their Digital Identity adoption.

So providence brought these two entrepreneurs to co-develop PhotoChromic as their current challenge.

Gur, having created a centralised identity software for the finance universe, and Murray, creator of a leading digital platform for influencers and brands, both agreed on the need of diving into the blockchain metarverse to create value, and visioned the opportunity with the NFT concept.

PhotoChromic’s Vision

At its origins, the team behind the PhotoChromic project understood that some users in the blockchain universe crucially need to prove their identity for validation purposes, like sports stars, artists, celebrities, etc.

These people enjoy a large amount of value tethered to their personal brand, their identity, so any hacking or malicious impersonation is synonymous to great loss.

The challenge was to create a verifiable utility that would allow the user to be identifiable on the blockchain. The dev team also found this utility also suitable for adding provenance to all assets these users create and commercialize with their fans and followers.

Of course millions of users on a daily basis interact on the blockchain prefering to keep their identities invisible. Yet all of us need to feel a degree of comfort and trust when we are trading with crypto assets.

Here is where the PhotoChromic protocol can fit in with its unique value proposition. Users will be able to mint a personal biometric NFT which is non-transferable, which sits in their crypto wallet like any other holding of NFTs or tokens.

This personal NFT includes generative artwork based on the user’s recognizable unique facial features.

The identity NFT owner can license this generative art to third parties they trust, with the signature of a contract for a period of time. Hereby users will always retain the full control and ownership over their identity NFT by fully managing how it is distributed and utilized.

This unique generative art can both be unidentifiable to a person’s identity if the user prefers to remain pseudonymous, or can be identifiable to the figure of the holder like with sportsmen, artists or celebrities.

Over the crypto metaverse, the number of platforms and projects needing to verify their users in some way is growing. The team at PhotoChromic launched their identity validation protocol with the objective of addressing this growing need.

Currently, users need to operate within the decentralized crypto universe easily and safely, and for certain, identity processes designed for traditional finance doesn’t really help.

Notable Achievements so Far

The PhotoChromic team completed a private token sale initially followed by a DEX offering shortly ago (November 15th) of their $PHCR native token obtaining 125x oversubscriptions.

The IDO (Initial DEX Offering) event was successfully organized by CardStarter launchpad to generate awareness and as a decentralized and permissionless crowdfunding process.

With a total supply of 15 billion, their proprietary asset $PHCR is PhotoChromatic’s Identity Bonding Token. From this total supply, 21% was offered in the private initial sale and IDO.

PhotoChromic’s $PHCR digital currency is an ERC-20 token currently running on the native Ethereum blockchain. The token has multiple use cases like governance rights, bonding identities and staking.

PhotoChromic is implementing two kinds of standard Ethereum tokens:

  • Identity NFT uniquely tethered to a single personal identity. This Non Fungible Token is ERC-721-compatible.
  • $PHCR native token, as the platform’s currency with multichain utility. PhotoChromic’s $PHCR is ERC-20-compatible.

PhotoChromic’s B2B Value Proposition:

For those huge, centralized user-service corporations seeking to enter the Web3 internet, PhotoChromic provides the ability to login ‘via Ethereum’ validated by certain credentials (like age, home address or other KYC information).

The process of identity validation runs automatically and on-chain, freeing the organization from any internal administration and costs related.

At the same time, being PhotoChromic a decentralized solution, these large corporations don’t need to store and safeguard the bulk of a user’s identity information (a logistical nightmare in terms of risk and costs).

How it Works:

As it happens with internet domain names, users will need to renew their enrollment on a yearly basis. The NFT is minted after the user signs up through an IDV and KYC online enrollment to get a username in the format of username.photochromatic.eth.

The enrollment has an upfront fee plus the annual maintenance fee. PhotoChromic also charges a fee when the users need to verify themselves to perform an online transaction.

Next Steps

Currently, the PhotoChromic platform runs on the Ethereum, Polygon (MATIC) and Cardano blockchains, but later will be expanded to Solana and other Layer 2 chains.

PhotoChromic’s NFT (ERC-721-compatible token) is simply a smart contract that links a specific identity with a number of attributes.

The identifier NFT is a single, unique, lifeline address that comprises all the user’s data. The attributes that conform this identifier are assets that contain KYC documents like ID, birth date, address etc, as well as the generative artwork based on the users’ features.

What is PhotoChronic Generative Art?

The main distinctive feature of PhotoChronic is the user’s generative artwork automatically created by algorithms. These algorithms take the passport photo of the individual and other variables as the base to create thoroughly designed, unique, expressive images as output.

The beauty is that the Users control the algorithms by choosing the variables and making personal adjustments based on their aesthetics needs and personal taste.

This creative process can even be shared by the user with its fan base or followers within the PhotoChromic platform.

Nevertheless, the creative achievement is not the actual creation of the image but the definition of the algorithms that better reflect their own personality expressed in the output artwork.

It is a shift of paradigms, technology helped to democratize art reaching the masses, but with personalized algorithms, artwork remains unique and thus with collectible value. The assets artist’s retain as intellectual property are the actual algorithms.

PhotoChromic is Well Placed to Grow

It is a growing concern, enhanced by the civil-rights restrictions experienced after the Covid-19 lockdowns, to keep our identity verification, storage and use completely decentralized.

The PhotoChromic platform permits self-sovereign identity biometrically managed by a unique owner on the blockchain. PhotoChromic then tokenizes these identities into digitally safe, verifiable, programmable, and universally addressable NFTs.

This innovative protocol while deploying onto key blockchains is generating an array of added value features and business opportunities for PhotoChromic themselves but also for third parties detecting the opportunities ahead.

PhotoChromic launched a blockchain-powered solution for self-sovereign identity management. The ultimate goal is to keep the control of the users’ data in the users hands.

To learn more about PhotoChromic, you can visit its website right here!

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Syscoin: Blockchain Protocol for Future-Proof Payments & Value Transfer

Today, despite the risks in using cryptocurrencies as well as the moves to tighten control over cryptocurrencies by the governments, cryptocurrencies are increasingly widely accepted among industries across the world.

As a result, their interaction with commercial platforms is becoming more important and common. Some major online stores are also looking to Bitcoin payments on their websites.

As the demands are rising day by day, there are more projects launched to meet them. Syscoin is one of them.

Syscoin’s vision is to completely bypass third parties and to create a decentralized marketplace that works to extract more benefits from blockchain technology.

What is Syscoin?

Jag Sidhu, the Lead Core Developer and co-founder of the Syscoin project, has many years of experience in the industries such as blockchain technology, machine learning, artificial intelligence, server development, and distributed systems.

The co-founder helped to launch the Syscoin public blockchain in 2014 and kept contributing to the success of the project.

Syscoin was developed and designed as a global network, a distributed ledger, a decentralized database, as well as a blockchain. Syscoin works the same as online platforms like Amazon and eBay, but its data is not stored on a central system.

Syscoin offers a decentralized marketplace. It is stored on the blockchain, a decentralized network consisting of several nodes that makes it different from other marketplaces and brings more advantages that non-blockchain architecture just can’t.

The Syscoin combines the best of Bitcoin and Ethereum in one platform, which has elevated Bitcoin’s best security and Ethereum’s Turing-complete programmability to true L2 scalability via ZK-Rollups.

Although several solutions have been launched in the crypto space, Syscoin is still standing out as a unique and very important alternative to Ethereum, which cannot be found in other smart chains.

Syscoin’s Network Enhanced Virtual Machine(NEVM) allows users to do things that cannot be done with Ethereum.

However, Syscoin is not only designed with the well-known security of the Bitcoin model and merged-mining, but it also can provide all the best characteristics expected in Ethereum’s 2.0 future thanks to its L2 ZK-Rollup technology.

In addition to these significant features, there’re opt-in features that can give existing and upcoming projects regulatory compliance at scale for their asset’s transactions, without the involvement of any third parties.

These can help securities like stocks to safely participate in DeFi, DEX, or other emerging technologies in the space in a compliant way.

The project is backed by the Syscoin Foundation, which is broadly responsible for the growth and adoption of the platform. This is a technology development company and develops commercial blockchain.

This project acts as a blockchain that is mainly aimed to offer solutions for both individuals and companies.

How Syscoin Works

Syscoin is built on a blockchain technology running on Bitcoin’s algorithm, the SHA-256 Proof of Work model. As such, that allows mining tokens by using the energy in mining Bitcoin.

The compatibility with the Lightning Network for transactions is even faster. Moreover, a network of Masternodes is used as a scalable service layer to offer several advantages to the owners of these Masternodes.

Masternode system

In the Syscoin platform, Masternodes is used as a global resource pool, a means of decentralized governance, as well as a source of bonded validators. Syscoin provides decentralization through a Masternode architecture that can be found in several blockchains.

In addition to standard block rewards, holders of Syscoin Masternode can benefit from scheduled seniority bonuses.

What Makes Syscoin Special

As mentioned before, what makes the platform different and unique is that it brings the best of Bitcoin and Ethereum to one place aiming to create a network built with the most secure, reliable, and fastest Web 3.0 applications.

By adopting the protocol and algorithm of Bitcoin, it is going to mine in the same way as what happens with Bitcoin. This means miners are able to mine cryptocurrencies based on the same algorithm while Syscoin also harnesses the power of pooled coins.

Not only does it provide a fully decentralized marketplace, but the platform also includes a number of key features designed to improve the overall e-commerce experience of users.

New Ways to Transcend Centralization

The project is opposed to centralized markets and allows users to sell anything directly on the Syscoin blockchain.

Users can access unlimited inventory. On the other hand, retailers can resell other users’ goods and also allow their products to be resold for a commission.

The SYS token is currently one of the most affordable cryptocurrencies on the market.

Syscoin has a modular structure for scalability, increases POW security with a Finality function, is trustless, holds a TPS of 210k, and uses an inflation-based cost model.

The platform also takes advantage of distributed certificate management and cryptographic techniques to allow users to issue, authorize and exchange a range of digital certificates.

These certificates can be authenticated by using a cryptographic Proof of Work (PoW) consensus algorithm on the platform, opening the new door to the creation and exchange of digital assets such as certificates, ownership documents, receipts, event tickets, software licenses, and warranties.

Advantages of Syscoin’s Network Enhanced Virtual Machine (NEVM)

The Ethereum Virtual Machine (EVM) is a computation engine that acts like a decentralized computer working as the virtual machine which is the bedrock of Ethereum’s entire operating structure.

In order to help users with limited issues on the distributed ledger, the EVM will implement other extra functionalities to the Blockchain.

Ethereum facilitates smart contracts. A contract that is written in the smart-contract coding is converted into something called bytecode. Then, it is converted into codes for the EVM. The EVM is going to use the operation codes in order to complete certain tasks.

NEVM offers L2 scalability for smart contracts which are powered by ZK-Rollups. It’s also a place where any Ethereum smart contract can be deployed.

Its security, Syscoin’s L1, has been proven through Bitcoin merge-mined PoW and Bitcoin-compliant consensus.

Finality offered through chain locks will solve long-range MEV (Miner Extractable Value) to make DeFi safer. Syscoin’s finality makes safe settlements possible in hours, not days or weeks.

Offering EIP-1559 which is an indefinitely functional L1 economy focused on utility.

There are a lot of other advantages that DeFi projects as well as other EVM-based solutions can benefit from NEVM.

The SYS Token

SYS is the native token powering the platform. SYS holders can use the token as gas for transactions, smart contract deployment, and more. The token also is to create a Syscoin Platform Token (SPT), a custom asset token that uses the Syscoin Token Platform.

Currently, there’re 621,916,937.54 SYS available on the platform. NEVM will bring EIP-1159 token burning that will be offset with <%1 inflation to allow for future-proof supply.

Users can buy SYS coins on many different crypto exchanges such as Binance, ByBit, Bittrex, and Bitvavo. The token is also available on a decentralized exchange (DEX).

Syscoin: Summary

Backed by a strong team in the industry, Syscoin offers a number of features that will be valuable for the trade of goods and services.

With its vision to bring the best of Bitcoin and Ethereum in one place, it is a network for developers to create the most secure, reliable, and fastest Web 3.0 applications.

To learn more about how Syscoin is making its vision a reality, just click here for more about Syscoin!

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Linkin Park’s Mike Shinoda Launches Unique Music NFTs On Tezos

Major decentralized blockchain platform Tezos announced on Tuesday that the firm has partnered with Linkin Park frontman Mike Shinoda to launch an NFT music series.

The new music project, dubbed Ziggurats, consists of 5,000 mini mixtapes with unique music and different cover art. The release date is scheduled in early December through streaming services and the Tezos blockchain.

The American singer and songwriter talked about his plan, saying:

“I’ve been off Twitch and social media a little bit here and there because I have a couple little projects I’ve been trying to spend more time on. The primary one is a music + NFT idea, and it’s coming out great.”

Shinoda Goes NFTs

The music-focused NFT series, described as “generative mixtape,” is also accessible for music lovers or the band’s supporters with no need of NFT’s interest. If the audience wants to show support for the artist, they can buy in on Tezos.

“If you’re not into NFTs, you’ll still be able to check it out for free. I hope you enjoy it. If you want to buy one, it’ll be on Tezos,” Shinoda added.

Shinoda’s interests with the NFT, like those of other musicians, go beyond money.

The musician hopes to use blockchain technology to revolutionize the music industry, particularly with his agents, legal staff, and studio executives.

These are the factors that lower the amount of money earned by artists while also increasing the tendency of usury through record label sponsorship. Tezos is the blockchain of choice for a number of NFT music-related collaborations and initiatives.

OneOf, a Tezos-based NFT store, debuted NFTs inspired by legends like John Legend, Quincy Jones, Doja Cat, and Whitney Houston in June. H.E.R, Charlie Puth, G-Eazy, Jacob Collier, and Aurora are among the musicians and artists whose NFT crypto collectibles will be released by the platform.

In order to reward musicians, OneOf has partnered with the Recording Academy, the prestigious organization behind the Grammy Awards.

Market Saturation

Despite the controversial reactions of mainstream audiences, celebrities and artists’ attraction with the NFT area continues to grow.

Artists now have the freedom to select thanks to NFTs, which they didn’t have before. Art is increasing as a result of technology, and technology will continue to grow as a result of art.

In theory, NFTs are used to validate the authenticity of one-of-a-kind artifacts. If you create a picture or a song, for example, and wish to establish your ownership, you’ll need to go through several phases of the verification procedure.

However, you only need one key to confirm your ownership with NFTs. It saves time and is approved all over the world without the involvement of the government or an intermediary.

Isn’t it a little too wonderful to be true? Well, for now, it seems to be real.

The most pressing issue will be getting the user’s perspective. It’s obvious that for a hundred bucks, you can acquire a real version of the artwork.

However, when it is converted into NFT, the price tag soars into the billions. The number of persons who agree that an NFT exists, according to many NFT enthusiasts, determines its value.

If even one person believes it and is willing to invest their money into it, a million dollars can become a billion dollars.

Still, the logic of NFTs remains unclear that no one can fully explain. Despite this, many continue to jump on the bandwagon despite a lack of understanding of the market and ecosystem.

Many people are afraid about missing out and being left behind. Investing and speculating are barely distinguishable. Many are terrified of being left out of the game, therefore they join with the group, and have contributed to the growth of this bubble.

The post Linkin Park’s Mike Shinoda Launches Unique Music NFTs On Tezos appeared first on Blockonomi.

Colony: Community-Driven Avalanche Ecosystem Accelerator

The most used blockchain network, Ethereum, has continuously surged in demand this year, there’s still more demand than the leading all-purpose blockchain can handle.

As a result, the cryptocurrency industry has seen the rise of many other projects which are Ethereum’s competitors, and one of them is Avalanche.

Similar to Ethereum, Avalanche also has smart contracts to carry out a set of instructions on the blockchain that are important in running decentralized finance (DeFi), applications, and Non Fungible Tokens (NFTs).

Launched in 2020, Avalanche is to implement transactions faster with lower fees than Ethereum. AVAX is the native token powering the Avalanche ecosystem.

Colony is a community-driven accelerator for the Avalanche ecosystem that evolves into a DAO to boost ecosystem growth. Colony is powered by a governance token, $CLY.

What Is Colony?

In simple terms, Colony provides funding to Avalanche-built projects in early stages and Liquidity to Avalanche DeFi protocols.

Colony supports developers and users to purchase and stakes not only Avalanche (AVAX) but other upcoming subnets tokens as well as allows to purchase selected Avalanche projects to form an Index.

Backed by a team who have many year-experience in both the traditional finance industry and blockchain projects including Ethereum and Avalanche. Operating in the crypto space for a long time, Elie, Colony’s CEO, knows what the ecosystem needs.

Elie and his team started developing Colony after recognizing that Avalanche’s services could fill the current gaps and are the technological breakthrough powering the consensus and the subnet customizability built on top. They were able to scale with high decentralization.

Starting in February 2021, the team behind Colony began work to replace outmoded systems by designing new ones with the structural integrity of traditional finance for DeFi, specifically the Avalanche ecosystem.

Colony has been set to create a foundation encouraging and supporting the next generation of applications built on the Avalanche platform.

Colony’s solution is the combination of traditional capital with the power of a community where users are given open governance, support, and inclusion.

The Vision

Colony will act as an accelerator of the Avalanche ecosystem by capitalizing on early-stage projects and more through a highly regulated fund structure.

Providing capital to increase liquidity and secure networks by running nodes as ways that Colony contributes to the Avalanche ecosystem. In addition to these features, there will be an index dedicated to projects built on Avalanche.

Some activities will drive this business including the development of a Web3 application to power an inclusive Venture DAO mode, the support for early-stage projects to build and evolve on Avalanche, and the power of the Avalanche community.

Community at the Core

With Colony, the beating heart is its community. Colony empowers the Community to fund across the Avalanche ecosystem. The avenues from Colony’s investments will be returned to the Community through features including airdrops, the buyback mechanism, and rewards.

This regulated framework will help traditional investors approach the Avalanche Ecosystem, therefore, that could foster its growth with new capital.

Colony has raised over $1 million in seed funding. The round was co-led by GBV Capital, Foresight Ventures, and the Avalanche Foundation with the participation of other investors including Avalaunch, Avatar, Yield Yak, NGC Ventures, Spark Digital Capital, MEXC Global, Synaps, and ZBS Capital.

There was a Private Sale opened to all early-community members and strategic investors with +$15M committed.

Ecosystem Farming

Colony offers a foundation for applications on the Avalanche-based platform with a funding mechanism.

Traditional Venture Capital firms are highly centralized and only benefit their LPs but do not completely suit the long-term growth of the ecosystem due to a mismatch between the fund lifespan and the one of the ecosystem. Colony is changing this paradigm by giving governance to the community at the beginning.

Decentralized autonomous organization (DAO) runs on blockchain technology which is recently grabbing the attention of more conventional investors. Members of the crypto community predict that DAOs will become the next big trend in the crypto space to compete with traditional business structures.

In traditional organizations, there’s typically a hierarchy. For example, a formal board of directors, executives, or upper management often determines the structure and has the power to make changes in the company.

On the other hand, DAOs are decentralized, therefore, they aren’t governed by anyone. As the governance of each DAO is recorded on the blockchain, it cannot be changed without the DAO’s members’ votes. Members of each DAO can vote on decisions together and are normally on equal footing.

Colony’s Inclusive DAO has introduced a new concept in the crypto space, known as Ecosystem Farming. For the average investor, it seems almost impossible to invest in projects while they are still in their early stages, let alone when they are at the ground level of development.

Colony conceptualized a revolutionary approach, in which this gap can be bridged.

Colony is solely focused on Avalanche and its beating heart is the Community. Its community now is empowered in voting and the influence while all the created value will be rerouted back to the Community.

The CLY Token

CLY is a unique token used for both DAO governance and is the core of Colony. The token was created as a new type of asset which features both empowers and controls. Its goal is to create a codified harmony between holders, the protocol, and the assets contained within it.

Users will be able to buy their token CLY on CEX and DEX and then stake them on Colony’s App. Staking the tokens will allow them to access all of the app features. The minimum amount is 50 token CLY for 20 days at least.

The CLY token holders will receive rewards from staking Avalanche, providing Liquidity, and Tokens via airdrop of Colony-funded projects in the early stage.

Colony’s customer segments include VCs and the community members interested in being part of the Avalanche ecosystem. Users will be able to stake their colony token to receive multiple airdrops of projects building on top of the Avalanche ecosystem.

For beginners, it is super easy for them to learn to stake their coin and earn benefits. Meanwhile, professional users of crypto have access to governance where they can participate in projects, analyses and be part of investment decision-making.

Currently, Colony is exploring the Avalanche Ecosystem and approaching its community through social media such as Twitter, Telegram, Medium, and the website.

Although the Airdrops Mechanism feature just premiered, it is promised to bring a great incentive to token holders building a diversified portfolio on the Avalanche ecosystem by staking their Colony token.

Meanwhile, the Buyback Mechanism creates recurring buying pressure on CLY, while redistributing bought $CLY to the active community members.

More Coming from Colony

As the world has been exploring blockchain technology which is believed that there is still a lot of untapped potential. Blockchain technology has made a new form of the finance industry and keeps scaling other factors.

The Avalanche ecosystem is one of the new ones that can bring the structural integrity of traditional finance to DeFi and this is where Colony comes in.

Colony is creating a new future where it combines traditional capital and the power of community. Colony is the cornerstone to access the growth of the Avalanche ecosystem by steering investments and ensuring sustained network effect across the Avalanche Ecosystem.

Colony is all about its community. Community at core is a truly decentralized and democratized financial ecosystem. Ecosystem farming is one token to access the growth of an entire ecosystem.

To learn more about Colony, just click right here!

The post Colony: Community-Driven Avalanche Ecosystem Accelerator appeared first on Blockonomi.

The Metaverse is a $1 Trillion Opportunity After Users Increase 10X

According to a recent Grayscale report, the number of active Metaverse users has increased by almost 50k since the beginning of 2020.

Download the report here (PDF).

Grayscale’s report, The Metaverse, Web 3.0 Virtual Cloud Economies, was released in November 2021, with the main focus being on the metaverse itself and its future potential.

Looking back at the evolution of digitalization, from Web 1.0 to Web 2.0 to Web 3.0, Metaverse is expected to be the next frontier of the Internet, the next big thing in crypto after the NFT hype.

Widespread Adoption

Many major technology companies, including Apple, Facebook, and Microsoft, have plans to develop products to support the metaverse trend.

Experts believe that businesses have recognized a new range of potential from the virtual universe, ranging from selling hardware and software to support access to the metaverse to virtual goods, services, and advertising in the virtual world.

In the Metaverse, tech giants began drafting business plans.

Microsoft said it would release a set of tools to support its virtual universe ambitions in the near future, but no price was given. The Teams app, for example, is expected to include the use of custom digital avatars next year.

Meanwhile, Facebook changed its name to Meta and began developing augmented reality solutions.

In addition, the company sells Oculus glasses for $299 and is working on a variety of other AR and VR devices. Meanwhile, game developers such as Roblox and Epic Games began experimenting with virtual concerts and free-to-play RPG forms, as well as selling virtual items on their platforms.

Smaller businesses are also preparing for the metaverse. Accenture PLC announced in October that it had purchased 60,000 Oculus glasses to train new employees. In terms of fashion brands, Nike previously filed a copyright application for the sale of its product as a digital version.

The report’s authors, Grayscale Head of Research David Grider and research analyst Matt Maximo, explain that the rise in active Metaverse users is due to the emergence of DeFi services, NFTs, and, most importantly, Play-to-Earn games.

To wit,

“Compared to other Web 3.0 and Web 2.0 segments, Metaverse virtual world users are still in their early innings, but if current growth rates remain on their current trajectory, this emerging segment has the potential to become mainstream in the coming years.”

Businesses and firms that are actively engaged in the Metaverse have pushed forward innovations and fueled mainstream adoption. People may be unconcerned about cryptocurrency or blockchain, but they recognize the arrival of Metaverse.

Take, for example, China. Over the last few months, China’s strict policy toward crypto-regulated businesses has been a hot topic.

However, in the case of Metaverse, the government is not opposed to it as long as everything is undertaken within the framework, according to Tencent, China’s leading technology company.

The FOMO!

Many people have become interested in terms such as cryptocurrency or NFT over the years. Some people are actually pouring money into virtual interactive space and spending time there.

Entrepreneurs use blockchain to build financial systems, buy and sell virtual land, and create independent management systems that are not owned by anyone.

It’s still too early to say that all blockchain or crypto trends are linked to FOMO (Fear of Missing Out). Grayscale’s report is upbeat about Metaverse’s adoption, noting that it will be a $1 trillion opportunity once the user base has increased 10X.

The report stated,

“Web 3.0 Metaverse virtual worlds have benefited from rapid innovation and productivity gains. Crypto virtual worlds have created a multi-million dollar primary and secondary market for creators and asset owners by eliminating capital controls and opening their digital borders to free-market capitalism.”

Although Metaverse is a new term, everything that contributes to it is a part of our everyday lives. Many people want to know what the metaverse is made up of, but some of the elements that make it up are actually things we’ve seen before.

The post The Metaverse is a $1 Trillion Opportunity After Users Increase 10X appeared first on Blockonomi.

New Order: Venture DAO Platform for The Multi-Chain DeFi Cosmos

On November 18th, the DeFi ecosystem witnessed the launch of NEW ORDER, a venture DAO platform that completely redefines the way assets in the multi-chain DeFi environment are being accumulated, formed and disbursed.

DAO stands for “decentralized autonomous organization”, by definition it is an open-source blockchain protocol, created and governed by its selected members and by specific rules. These rules or smart contracts automatically execute controlled actions without the need of authorization from any party.

The community of co-founding members at NEW ORDER DAO is deeply committed to help drive the DeFi ecosystem towards a new era in crypto finance. The team is convinced that the newly launched New Order Incubation DAO will become the largest treasury 100% governed by a DAO in the near future.

New Order is the first of its kind Incubation DAO on the DeFi ecosystem. It is conceived as a decentralized Y-Combinator for DeFi with the governance in the hands of community members.

This Incubation DAO will promote the development of L1 projects creating a more diverse market, by incubating venture DeFi projects that operate over New Order’s thesis of DeFi 2.0: machine intelligent, multi-chain and operating with further digital asset classes like NFTs, data tokens, etc.

New Order addresses the scaling limitations for most DAOs by creating multiple income entries through its incubated projects, products and services.

The revenue generated by this incubation program will be determined by critical asset diversification, towards becoming a strong risk-neutral treasury to help generate a long term value for the DAO community.

New Order’s Mission

Born in 2021, the Incubation Dao was created to provide founders and developers a venture partner willing to support more building than investing projects. New Order becomes a partner expressly inclined for sweat capital rather than venture capital, and would rather operate with permissionless DAOs over permissioned.

DeFi builders are currently needing a community like New Order, especially with the DeFi space so invaded with despicable investing operations like dumping or liquidity ‘rug-pulling’.

Builders also found themselves flooded by projects with extensive white papers, exquisite PR briefs and meters of texts in medium.com but little real time hands-on support and executing capabilities.

The Vision

The New Order community strongly supports the idea that the evolution of decentralized finance in the near future will only be feasible through values and human initiatives immersed in non-tribalism, collaborative, sustainably oriented and multi-chain.

The New Order team also believes and supports the idea that DeFi and Web3 should not be again a winner-take-all space like it happens in the internet today, instead, it should be a network of decentralized communities engaged together towards a cooperative capitalism based on an improved free internet.

New Order’s founders have developed their DAO project close to DeFi companies for the last several years, like Gitcoin and Token Engineering, gathering first hand experience by joining efforts with many OGs in the DeFi ambience.

New Order DAO also have extensively submitted the project for scrutiny with the academia environment, with special support from the Imperial College of London, the University of Toronto and the York University among others.

The co-founding team is presided by two renown blockchain advocates, Eden Dhaliwal with an NBA from Toronto University and Marek Laskowski, Ph.D. in Computer Engineering from the University of Manitoba, Canada.

Both entrepreneurs have in common an extensive experience in blockchain computing, decentralized finance and specifically the projects accelerator/incubation investment segment.

The New Order Incubation DAO raised $4 million in its launch phase.

New Order’s Business Model

The DeFi adoption is growing in spectacular scale, and more users are needing products, security and user experiences capable of co-existing in a ‘multi-protocol’ ecosystem.

Well, this New Order DAO is the rare multi-protocol ecosystem that finally permits DeFi users to access new multi-chain DeFi solutions and services. New Order acts as an ‘ecosystem-as-a-service’ for builders launching new projects.

The essential service New Order delivers is a ‘strategic’ incubation of developing DeFi projects from founders in Layer 1 chain. By adopting a ‘sub-DAO architecture’, New Order is obviously a decentralized organization enabling an improved support to the growing portfolio of incubating projects.

NEW ORDER’s service to the venture projects development fundamentally consists of two main benefit streams; a- funding opportunities: thanks to prominent partners and advisors

New Order specializes in DAO & VC fundraising, token issuances, and leveraging liquidity pools; and b- product advisory: by networking with industry leaders for experienced feedback on financial engineering in decentralized governance, also over security on smart contracts and platform structure.

New Order also deals with all the administrative and legal steps to go global.

The builders and founders participating in the New Order community will have access to a wider ecosystem of exchanges, developers, token listers and more.

New Order also grants its entrepreneurs an optimized visibility of their projects thanks to dedicated speaking opportunities, interviews, webinars and more (a thoughtful PR strategy). Finally, New Order also assists its users in finding and hiring local Web3 talent in Europe, North America and Asia.

Those DeFi-focused highly motivated entrepreneurs ready for their pre-seed incubation phase can rely on New Order to have all they need to launch the next-generation financial products.

New Order’s community members are primarily developers, strategists and founders of venture DeFi projects, and yield farmers. While New Order’s ecosystem partners, investors and mentors are primarily DeFi Protocols & DAOs, layer 1 networks, auditors, liquidity providers, venture capital and technical infrastructure.

These necessary relationships cultivated over time after sustained trustful behaviour have grown thanks to social media, hackathons, etc. These community interactions often result in hiring community members into some New Order’s incubated projects.

New Order’s Main Features

Governance Token

Holders of governance tokens will have the right to govern DAO operations, access accrued assets and revenue and manage treasury.

Also New Order’s native token holders will assist upcoming projects to provide liquidity. Holders will also benefit from the token accros apps of incubated projects and earn rewards and fees by participating in DAO vaults.
DApp marketplace

The DApp marketplace is the main revenue-generator for the New Order DAO. The team of developers at New Order DAO share a near future goal of launching chain-agnostic powerhouses connected by a meshed liquidity network, multiplying the revenue streams for New Order.

New Order’s Formula for Speed

New Order is a DAO with a growing number of participating stakeholders across different protocols and L1s. Being this a good thing, it also puts pressure on the need of providing an efficient, inclusive and scaling in speed governance solution.

New Order found in using a ‘SubDAO’ architecture the solution to the platform’s efficiency and speed challenge. The “SubDAO” architecture helps to further decentralize operations and streamlines different working groups.

The SubDAO architecture replaces the need of randomly selecting a multi-sig core team among the community members, instead it implements a community-elected key holders team. These elected members become leaders of different divisions within the DAO and eventually will climb up the ranks by building personal reputation.

Conclusion

In simple words, New Order is a permissionless Incubator DAO created to generate long-term value in the DeFi environment. Basically New Order builds and launches early stage financial protocols, apps, products, tools and infrastructure for the DeFi ecosystems.

These seed-phase projects all support New Order’s objective of enabling a cross chain DeFi ecosystem in the near future. New Order DAO is also constantly exploring new digital asset classes, like NFTs and data tokens, that surround promising DeFi markets developing.

It makes sense to all builders and founders to come through New Order’s Incubator DAO for the several reasons explained above. The White Paper gives a deeper understanding, so please click here to read it!

The post New Order: Venture DAO Platform for The Multi-Chain DeFi Cosmos appeared first on Blockonomi.

Pacific Island Nation of Palau To Launch National Stablecoin Backed By Ripple Tech

Ripple XRP

On November 23, US-based major cryptocurrency company Ripple made an announcement regarding its new strategic partnership with the Republic of Palau. Specifically, Ripple and the Republic of Palau have teamed up to facilitate the launch of national stablecoin.

Palau Makes A Move to Ripple

Paula’s national stablecoin looks to be the main focus, along with the exploration of its use cases, backed by the XRP Ledger (XRPL). The idea is to create a USD-backed stablecoin that leverages other services in the country, such as enterprise registration.

Under the partnership, the exchange will support Palau in developing and completing the technical framework, business and design for Palau’s first national digital currency.

Ripple explained the motives behind Palau’s decision,

“Palau chose Ripple because of its extensive experience in blockchain and building global payment systems, and the XRP Ledger because it’s carbon-neutral and 120,000x more energy-efficient than proof-of-work blockchains.”

Palau’s move is similar to El Salvador’s. Neither country has fiat currency and citizens use the US dollar as legal tender. Their intentions are what sets them apart.

While El Salvador became the first country that officially adopts Bitcoin, the small island located in Oceania does not plan to adopt XRP or any other digital currency as legal currency. Paula intends to issue its own digital version of a government-regulated dollar.

A Stablecoin is a digital currency based on Blockchain that, as the name implies, has a stable value.

A Stablecoin’s price is pegged to another stable asset, such as gold or fiat money (USD, EUR, GBP). In the midst of the volatility of cryptocurrencies, particularly Bitcoin, stablecoins emerge as a promising alternative that can replace traditional payment systems, ensuring a stable and global price.

The President of Palau, Surangel S. Whipps Jr. is confident that Ripple can provide the technology needed to develop a financial product that suits Palau’s needs.

To wit,

“As part of our commitment to lead in financial innovation and technologies, we are delighted to partner with Ripple,” the president stated. “The first phase of the partnership will focus on a cross-border payments strategy and exploring options to create a national digital currency, providing the citizens of Palau with greater financial access.”

Despite the SEC lawsuit against Ripple that was filed on December 22, the exchange has announced its expansion in customers base and human resources.

Ripple is continuously growing and scaling, attracting the interest of customers and high-profile human resources to manage and operate the system.

Notably, there are bright faces from Apple, PayPal, Amazon, Tesla and Twitter platforms.

In particular, Ripple has succeeded in inviting Sandie O’Connor, former CEO of JPMorgan Chase, to the Board of Directors to provide solutions on regulatory relationships with the government and initiatives to promote growth in the United States.

Crypto Cities

Vitalik Buterin, co-founder of the Ethereum digital currency, released a document dubbed “Crypto Cities” earlier this month, highlighting the growing interest of many cities around the world in a number of new technologies, including cryptocurrencies.

On that basis, Buterin recommends combining many of these top city technologies with cryptocurrency technology to create crypto cities.

As countries and territories such as Palau move toward a more prevalent blockchain future, the concept of crypto city appears to be too bad to be untrue.

Take, for example, small Baltic nations like Estonia, or cities like Tallinn, which are already embracing blockchain to enable totally digital governments that can work from anywhere in the city.

Surprisingly, El Salvador’s President voiced a similar issue in an official statement on November 20. El Salvador, according to the President, aims to set up a “Bitcoin city” with funds generated from the issuance of bonds.

Bitcoin City is planned to be set up in the area east of La Union, uses geothermal energy from volcanoes to mine cryptocurrencies and will be exempt from all taxes, except value added tax (VAT).

The post Pacific Island Nation of Palau To Launch National Stablecoin Backed By Ripple Tech appeared first on Blockonomi.

PARSIQ Adds OpenSea Data to New Feature Set for NFT Owners

PARSIQ – which was recently listed as the top ranking DeFi project under $100 million in market capitalization – has a hot new integration with OpenSea – the biggest NFT marketplace out there today!

So basically, what should users expect from this integration?

After announcing to cooperate with OpenSea in terms of connecting the marketplace into its on-chain monitoring platform, the collaboration will provide comprehensive support to users engaged in NFT activities.

Particularly, the integration will give customers the ability to generate personalized notifications for NFTs related activities, thus boosting the industry’s attraction.

Importantly, the implementation of Smart Triggers, which is an outstanding feature, is a part of this collaboration.

Smart Triggers are notifications that may accommodate a variety of criteria, such as floor pricing, volume, attributes, number of owners, wallet activity, and so on.

Furthermore, PARSIQ’s integration also allows users to set up channels for live notifications, with Webhooks enabling Google Sheets, Telegram, Discord as well as other apps.

In addition, to take advantage of this new program from PARSIQ, all users have to do is register for a free account on PARSIQ official website in order to set up Smart Triggers and establish their first PARSIQ based monitoring solution.

What Makes PARSIQ Unique?

PARSIQ is an automation platform that acts as the “glue” that connects blockchain with real-world applications. This is accomplished by making it easier to create processes and notifications between popular blockchains and off-chain systems.

In fact, PARSIQ, like other automation tools like Zapier, allows users to start multiple workflows or receive notifications if and when a specific event occurs.

Most of the current famous blockchains can use this logic – such as BSC, Ethereum, Bitcoin, Solana, Polkadot, Algorand, Dash and more.

In more comprehensive terms, PARSIQ’s platform unifies all chains for users into a single, simply consumable system, implying that no matter which blockchain is used, only one platform is necessary to manage all of the user’s workflow and notifications.

Now, the platform can be thought of as a universal bridge that connects crypto systems with the NFT world.

Another Strategic Integration With PARSIQ

This year, the NFT business has exploded, with sales of digital art objects hovering around $2 billion each month.

That figure is up from roughly $400 million in monthly sales at the beginning of the year, and it helped boost the NFT universe’s market value to around $7 billion.

As a result, a huge number of projects which are related to NFTs have increased in order to fulfil the demand from the current market. PARSIQ has emphasized its strong interest in NFT functionality with its integration with OpenSea.

OpenSea is one of the most well-known decentralized exchanges that provides purchasing and selling NFTs.

Moreover, the platform is not only where users can freely trade their commodities with full support, but also the tool that assists authors to launch their new digital works.

The platform is proud to remain as the largest trading place for digital items that assist users throughout various blockchains while ensuring the best prices for these products.

For this reason, when announcing the integration of OpenSea, PARSIQ will deliver a lot of functionality to NFT owners with this strategic collaboration.

PARSIQ as a Cool “Similarweb” for NFTs

Blockchain technology is ground-breaking and disrupting a wide range of sectors. It is altering the way settlements are made, payments are made, and value is transferred in general.

However, technologies to connect blockchain transactions with actions outside the network are required. PARSIQ is working to create better ways to operate both in the NFT space, and beyond.

Devoted on-duty team members are always available for assisting users in terms of ascertaining the requirements for their specific needs. To learn more about the amazing new features, please click right here!

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South Korea Expands Ban On NFT Games & Laos Regulates Crypto

South Korea

The week started off with unpleasant news for developers and gamers in the crypto community (and likewise for those who plan to jump in), specifically in South Korea. South Korea’s Game Rating and Administration Committee has no intention to lift the ban on NFT games.

According to the chairman of the committee Kim Gyu-cheol, the Game Rating and Administration Committee works in line with the existing regulatory gaming framework. That said, NFT games are unlikely to be legal for launch unless a change is made.

The committee noted that it doesn’t mean that, “the game committee blocks new technology such as blockchain and NFTs..The game industry promotion act, unlike other laws promoting culture, is established to prevent speculation.”

South Korea is Going Slow With NFTs

The committee has a point. Non-fungible tokens (NFTs) are one of the latest phenomenons that have swept the Internet over the past months, laying out the metaverse and opening a new world of opportunities.

Digital assets, on the other hand, have led to various malicious activities, cyberattacks, security problems, and money laundering. These issues discourage the governmental organization from welcoming NFT-based games.

In terms of South Korea’s strict reaction to speculative elements, it’s important to remember the case of Sea Story 15 years ago.

People lost their money and many committed suicide. That may explain why the Korean regulator is attempting to prevent any source that can lead to another unpleasant incident.

Meanwhile, the overall picture of the cryptocurrency market in South Korea shows optimistic signs.

The Bithumb exchange in South Korea has completed its compliance report with the country’s latest crypto legislation. The Financial Intelligence Unit has approved the latest crypto endorsement.

Apart from Bithumb, Korea’s biggest cryptocurrency exchanges including Upbit, Coinone, and Korbit, have received formal licenses after meeting all of the requirements of the country’s crypto law.

The approval laid the groundwork for cash-to-crypto services being under operation. The FIU has also registered the minor exchanges FlyBit and GDAC, which are both based in the United Kingdom.

However, because they have not been able to acquire a bank agreement that would allow them to provide customers with real-name bank accounts, they are only able to provide token-to-token services.

Many investors are drawn to NFTs because of their lucrative potential. But while certain success was established, some ended in regret. That’s the point.

Laos Issues Crypto Regulations

Officially, Laos introduced new crypto regulations for crypto miners and exchanges. To function legally, businesses and firms must be entirely Laos-owned and have proof of stable financial status.

The additional condition includes a security deposit of US$5 million with the Bank of Laos, according to the new regulations.

Another significant point is related to electricity. The cryptocurrency industry, as reported, has consumed a lot of electricity, which raises global concerns.

The country’s Minister of Technology and Communications stressed that for regular operation, mining companies should use at least 10 megawatts of electricity under a six-year agreement with the national electricity provider that can be extended.

The new rules also provide benefits for cryptocurrency miners, with the government announcing that mining businesses will be excluded from the foreign transmission and import costs under the new rules.

In September, Laos legalized crypto mining and trading, allowing six companies to trade and mine cryptocurrencies.

The table turned as the country established listing guidelines for the sector. The outstanding move brought a new beginning for mining and trading activities after a longstanding ban that had been in effect since 2018.

The new legislation is just the beginning. The Central Bank of Laos has a long-term vision and is looking into the idea of CBDC issuance.

Laos’ approach to CBDC was the talk in October. Accordingly, the national bank has engaged the support of Soramitsu, a Japanese blockchain business, to do research on the concept.

The post South Korea Expands Ban On NFT Games & Laos Regulates Crypto appeared first on Blockonomi.

Smartlink Launches First Sustainable Marketplace for Crypto Users

Smartlink, which offers escrow smart contracts, launchpad and DeFi suite, announced the launch of yield farming on its decentralized exchange Vortex v. 1.2.

Smartlink’s launch is incorporating Yield Farming to the second edition of Vortex, a blessing to the DeFi ecosystem on Tezos. This second edition of Vortex also has a native indexer, a ROI calculator and best in its kind analytical capabilities.

Smartlink Brings More Ideas to the Marketplace

All DeFi 2.0 ecosystems rely on yield farming when needing liquidity providers to add more liquidity to dexes.

According to Smartlink’s announcement, there will be liquidity farms for a wide array of Tezos-based tokens like SMAK, ETHtez, USDtz, tzBTC, hDAO, Plenty, Ctez, Crunch, kUSD and QUIPU (FA 1.2 and FA 2.0).

Within Vortex, LIGO Lang is auditing the farming smart contracts. Ligo Lang is a Tezos development studio and provider of comprehensive smart contract languages for Tezos.

A remarkable feature Smartlink improved in its second version of Vortex is its robust analytics suite, which includes swift transactions. This second edition also came with bug fixes and a new proprietary indexer that permits operations to flow smoothly with fast confirmations.

Also some technical issues in its previous version were addresses in Vortex 1.2.

Smartlink is as concerned with the positive end-user experience as much as it is dedicated to technical improvements and bug fixes when it developed Vortex v1.2.

Smartlink is Building the Future

Smartlink has been successful in attracting over $10 million in Total Value Locked, and it offers its clients a tremendous amount of functionality. Not only does the platform give its clients the ability to exchange tokens, it also has a range of DeFi services.

Like many DeFi platforms, Smartlink has a range of yield farming tools which allow users to earn the SMAK token. Like many tokens, the SMAK token has a range of uses, and may gain in value as more people come to the Smartlink platform.

Yield farming is hot for a reason. In the established financial system, it is very difficult to gain any yield. Most bonds offer less than 3% per year, and when inflation is taken into account, investors are actually paying to loan the government money.

At Smartlink, this is turned on its head. Staking pools at Smartlink offer competitive yields, so that Smartlink users can gain from their crypto holdings.

A Platform that is Built to Grow

Unlike many of the platforms in the DeFi arena, Smartlink uses Tezos. Ethereum-based platforms struggle with slow speeds, as well as costs that can be prohibitive to smaller traders. With Smartlink and Tezos, these worries simply don’t exist.

Transactions on Tezos are fast and inexpensive, although they aren’t free. In order to use Smartlink, you will need to have a Tezos wallet, and be ready to pay some small fees in XTZ in order to use the Smartlink platform.

The upside is that Smartlink is much cheaper than a platform that uses Ethereum, so while the Ethereum crew is waiting for ETH 2.0 to go live, you can be trading, staking and earning with Smartlink.

Smartlink is Thriving

With more than $10 million in TVL, and a wide reaching platform, Smartlink is getting ready for its next growth period. The platform offers a range of useful DeFi services, and unlike Ethereum-based platforms, Smartlink is cheap and fast to use.

There is also a fully sustainable launchpad coming from Smartlink, which will be great for the platform, and the Tezos ecosystem as a whole.

Smartlink will work seamlessly with some of the most popular Tezos wallets. If you are interested in all the features that Smartlink offers its users, just click here for more information!

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Major Investors Send Mixed Messages on Ethereum

Ethereum

Zhu Su, CEO and founder of hedge fund Three Arrows Capital (3AC), came down on Ethereum on November 22. The CEO emphasized factors that make Ethereum offputting not only to new participants but also to crypto enthusiasts.

Zhu, who co-founded Three Arrows Capital with his high school friend Kyle Davies, is one of the world’s largest cryptocurrency holders.

The crypto billionaire affirms that he has definitively abandoned the second largest cryptocurrency due to its lack of support for newcomers.

The Ethereum Controversy

Another major issue with the Ethereum blockchain, as Zhu mentioned, is its high cost and lack of scalability. At the same time, the community’s most powerful voices have no intention of addressing these issues.

In less than seven hours, however, Zhu Su changed his mind, declaring that he loves “Ethereum and what it stands for.”

An Ethereum address associated with Three Arrows Capital sent approximately $77 million in ETH to the FTX exchange earlier yesterday.

Three Arrows Capital was announced as one of the investors in Blizzard, a new fund with the goal of fostering the growth of “Ethereum killer” Avalanche in early November. AVAX has also reached a new high of $141.50.

Avalanche, like Solana, Cardano, and Binance Smart Chain, has benefited from Ethereum’s high fees, which continue to be a major barrier to blockchain’s widespread adoption.

Investors and traders have expressed dissatisfaction with Ethereum’s ecosystem. To overcome the disadvantages of the previous version, such as slow transaction speed and low scalability, Ethereum must be upgraded to version 2.0.

The transaction rate of ETH 1.0 is limited to 7 to 15 transactions per second. This processing speed has not been as effective as expected when compared to new-generation tokens such as TRON or SOL.

While the Proof-of-Work algorithm works on Bitcoin, it is considered outdated and causes many shortcomings in Ether’s network expansion and security enhancement.

The point is that the purposes of these two currencies are distinct.

The biggest improvement of the mechanism shift from Proof-of-Stake to Proof-of-Work, aside from speed, is scalability. Many projects can currently scale easily because they use the Proof-of-Stake algorithm.

Ethereum was once a very promising project. However, as new projects emerged that could solve the scalability problem, this project fell behind. This long-awaited update will be a game changer, allowing ETH to scale up to 50 times faster.

The privacy features are one of the most significant changes in this update. Privacy is a vital concern for crypto projects. Increased privacy will allow people to conduct transactions anonymously, maximizing the capacity of Ethereum users.

Calls For A Clear Framework

Following China’s complete ban on Bitcoin mining and trading, the United States has surpassed China as the world leader in mining this digital currency.

The US approach to digital currency regulation comes as no surprise to those who are familiar with how government agencies work. Bitcoin is allowed and regulators are attempting to integrate it into the traditional financial management system.

However, the United States has a significant amount of work to do in order to establish a unified regulatory framework for digital currency regulation.

The US Internal Revenue Service (IRS) mandated that Bitcoin be treated as a capital gains asset, similar to stocks or real estate.

Meanwhile, the Securities and Exchange Commission (SEC) regards digital currency as a security, whereas the US Department of Treasury regards it as a type of decentralized virtual currency.

As for Ether, the SEC has no comments on whether the currency is a security, or not. US. Securities and Exchange Commissioner Hester Peirce remains neutral when it comes to calls for regulatory actions, claiming she has no plan to build a framework for any specific digital assets.

Instead, the Commissioner is willing to focus on establishing a “sensible and clear” regulatory framework for crypto.”

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Safle: Next-Gen Identity Wallet & Composite Blockchain Infra Provider

With crypto-assets becoming more and more popular, the need to store this particular form of asset is growing. One of the names in the current market is Safle, a cryptocurrency wallet that not only has special support from blockchain but also builds in its system very special features.

What is Safle?

Safle is a blockchain identity wallet with a variety of functions for securely storing your assets via secure private key management.

You can use it on mobile devices and desktop browsers, and you have complete control over your private key. You can use Safle to send, receive, and store crypto assets, as well as use the dApp browser to access hundreds of dApps (decentralized applications) and participate in staking.

The team’s mission is to build a truly democratized ecosystem, give participants benefits and value through integrating a Web3 browser that allows users to access Dapps that meet the strictest quality and security standards.

Safle is part of the Safle Network and also Mainchain Research & Consulting. It is Safle’s native wallet, which allows users to trade cryptocurrencies directly on the platform while maintaining complete control over their assets.

Safle helps users to optimize personal wallet management, you only need to store a single backup copy of asset content. This wallet also keeps your data private and secure at all times and never accesses any of your personal information.

Safle Advantages

Safle wallet has a very modern and user-friendly UI. The wallet’s tabs are also designed to be easy to use and quite logical.

Safle allows you to trade from anywhere, at any time. While trading from anywhere, you have total custody and control of your funds.

Tokens saved in the wallet can also be used for a variety of additional activities, such as staking, trading, and playing Dapp games integrated into the wallet.

You won’t have to worry about the complexity and novelty of blockchain technology at all because it is a hosting network exclusively for dApps, following the highest security standards.

The digital wallet is always committed to the safety of users while in use. In addition, the Safle wallet system does not collect personal information with this service, in order to ensure the identity of the user.

Safle Key Features

Safle Token ($SAFLE)

Safle toke ($SAFLE) is the native token of the Safle, taking both the utility role and the governance role of the ecosystem. Early supporters and adopters can receive $SAFLE as a reward for their contribution to the growth of the system.

Additionally, participants likewise get $SAFLE by locking a certain amount of tokens. In other words, will stake tokens on smart contracts to validate transactions. Rewards will be given to participants as an incentive for their contributions.

A portion of the initial supply is used to expand the ecosystem and develop the underlying technology.

Further details on the tokenomics are as follows:

  • Seed: 3%
  • Private sale: 7%
  • Public sale: 5%
  • Strategy: 3%
  • Community: 14%
  • Staking rewards: 20%
  • Incubatees: 5%
  • DAO community partnership: 5%
  • Reserves: 5%
  • Founding team: 12.5%
  • Marketing investment and ecosystem growth: 22.5%
  • Initial liquidity provision: 2.5%

SafleID

SafleID enables users to get onboard and manage SafleID wallet resolution through Lifecycle Management’s integration. SafleID wallet is compatible with smart contracts running on blockchains like Ethereum, Polygon, or Binance Smart Chain.

Unlike other wallets, SafleID provides multi-features such as multi-sig, time-locks, daily limits, trusted contacts, and seedless recovery, eliminating security risks. In the case that key storage servers are hacked, SafleID ensures that only users can access their private accounts.

SafleVault

SafleVaut’s major advantages include availability, flexibility, and security. These are underlying key components SafleVault’s unique structure lies in its six protected layers of encryption.

All private keys are stored in the vault. Each will be present under a single seed phrase to encrypt the vault and keep it safe from attack.

Users can install the vault on the cloud system, or their devices, or anywhere they want with ease of mind. To decrypt the vault, simply fill in the password or biometrics.

SafleVault makes it possible for users to store digital assets in their wallet address instead of having to store them on an exchange wallet. As a result, investors avoid the risk of unnecessary loss of assets when exchanges are hacked or hacked.

SafleKeyless

SafleKeyless enables users to sign transactions within any decentralized application that has been integrated with SafleKeyless. Safle users can connect their Safle wallet with the dApp using SDK.

With SafleKeyless, it’s now easy to sign transactions and assert identity without having to jump through hoops or install any additional software on your devices.

SafleNode

SafleNode is designed to better suit developers of all levels. SafleNode consists of various tools that assist developers throughout the process of building applications.

With only a few lines of code, developers may integrate SafleKeyless as a wallet provider into their decentralized applications (dApps).

Open APIs for real-time blockchain and cryptocurrency data are also made available to developers through wallets, and these APIs can be used for price indicators, block information, chain analytics, and other cases.

All of these services are accessible through a state-of-the-art dashboard that can be accessed using the Safle developer’s app. $SAFLE will be used as a method of payment for all paid services.

SafleSwap

The swap feature of the wallet allows users to quickly convert their digital assets into other forms of assets for their convenience. Safle integrates a decentralized exchange with many coin and token pairs.

Transactions will be made directly between users without going through any intermediary.

Traders only need to choose the trading pair, the number of tokens or coins they want to buy and sell, then press the button to complete the trading order.

Stake & Farm

With Safle wallet, users can interact with a variety of staking services. They can directly stake their digital assets and generate yields.

The rewards are distributed into their wallets. Since the launch of DeFi protocols, staking will become more diverse. And as more tokens’ launch is underway, users will have a bunch of options to stake and get a higher annual percentage yield.

$SAFLE staking allows users to stake their cryptocurrencies in one single click from their non-custodial wallet, resulting in large yields while minimizing risk. Users who stake using Safle will also receive $SAFLE as an incentive.

SafleSmartPay

SafleSmartPay is a special feature designed for merchants, enabling them to join the Safle ecosystem. With merchant wallets, merchants can make payments for goods and services using cryptocurrency.

This feature also allows auto swapping, offering merchants complete control over their inflow currency, whether fiat or any specific cryptocurrency.

In addition, they’re able to create multiple child wallets from their master wallets and manage their inflow.

SafleDAO

As the name implies, SafleDAO is a decentralized mechanism that is governed by a community of $SAFLE holders. SafleDao is aimed at leading to outcomes that are in the best interest of the network.

SafleDAO provides an operating system for open collaboration, in which $SAFLE holders can make proposals and steer the Safle ecosystem. The operating system allows individuals and organizations to collaborate without having to know or trust each other in advance.

Created by the Safle founding team, the structure is then self-governed as no single entity has the authority to make and enforce decisions. Simply put, it’s automatic and operates by itself according to the machine code and pre-existing rules without anyone controlling it.

Final Thoughts on Safle

Asset storage is extremely important for cryptocurrency holders.

Although hackers are now eyeing exchange wallets, users should be cautious of keeping their wallets secure. With Safle wallet, users will have more peace of mind when storing cryptocurrency.

The post Safle: Next-Gen Identity Wallet & Composite Blockchain Infra Provider appeared first on Blockonomi.

Partisia Blockchain: WEB 3.0 Public Blockchain Built for Trust, Transparency, Privacy & Speed

Partisia Blockchain is a Web 3.0 public blockchain created for trust, transparency, privacy, which is supported by an independent non-profit foundation, the Partisia Blockchain Foundation, in Zug, Switzerland.

Partisia is a project with some amazing capabilities. Headquartered in Zug, Switzerland, Partisia Blockchain is co-founded by leading cryptographers, developers, and entrepreneurs in the world, who also founded the companies Partisia.com, Sepior.com, and Instars.com.

One of the biggest assets it has is its combination of blockchain and MPC technology which is going to solve some such issues in the blockchain industry.

MPC technology ensures data to be secured as it uses a network of computation nodes that work directly on encrypted data and there’s zero knowledge about the data. It allows decentralized pools of data to stay encrypted.

Meanwhile, using encrypted computations to extract information from those decentralized data pools.

According to Kurt Nielsen, the president of blockchain infrastructure organization Partisia Blockchain Foundation, leveraging both blockchain and MPC could help cryptocurrencies to satisfy regulators’ needs to manage transactions while preserving user privacy through MPC’s ability.

Users can verify their identities privately without actually disclosing specific identifying details.

Powerful automated identity verification tools can continuously develop while allowing them to catch and prevent potential fraud. Therefore, blockchain platforms could build more trust with regulators and legitimate users.

Partisia Blockchain Wants to Make an Impact

The team at Partisia has many years of experience in developing commercial-grade software based on distributed cryptography including blockchain and Secure Multi-Party Computation (MPC).

As the foundation’s vision is to create a more safe and secure Internet infrastructure, merging blockchain and MPC has been a key challenge since 2017. Partisia, the co-founder of the project, was a pioneer in the space when he started selling commercial-grade MPC software solutions to global enterprises in 2008.

The first version of Partisia Blockchain and Key Management based on MPC was transferred to the foundation by Partisia Infrastructure ApS and Sepior ApS at the beginning.

By developing the combination of MPC and blockchain technology, Partisia Blockchain’s solution offers enterprises the advantages of decentralized technologies while still guaranteeing to keep data private and secure, reducing data breaches and fraudulent activity.

The team behind the project wants to create a Web 3.0 infrastructure with no single point of trust for generic coordination of public and private information to be used by all applications across all platforms.

This is one of the things that makes Partisia Blockchain unique and different from other alternatives in the space.

In simple words, the project is launched to encourage developers to build on it, but it can also be a privacy layer for any other blockchains. In addition to having its own blockchain, the project allows anyone to be able to transact in a private and fast way on Ethereum or any blockchains.

Partisia Blockchain has raised a total of $36m since its launching with the most recent raise was led by Ausvic Capital, P2P.org, Kosmos, and Bitscale. Other investors Crypto Bazar Capital, CRT Capital, Gate.io Labs, and Insignius Capital also participated in the round.

In addition, Partisia Blockchain also has introduced some significant features. In August 2021, Partisia Blockchain launched the first smart contract available for developers, which powers voting and also consists of an interface for end-users to submit votes.

Also in that month, the Partisia Blockchain MPC Wallet browser extension went live on Chrome and Firefox allowing users to create and manage their own private keys, addresses, and have access to any dApps that run on the Partisia Blockchain.

In October 2021, the project launched its Rust Wasm Smart Contract language aiming at a better experience for developers and expanding compatibility with MPC technology.

Why it Matters for Blockchain

Today, digital assets have become a most favorite form of money among individuals and investors across industries in the world. The potentials of emerging blockchain technology are explored by developers to create places for people to enter and start making money.

Digital assets are not only appealing to consumers, investors, and regulators but also fraudsters. The huge cryptocurrency continues creating a lucrative environment where cybercriminals can carry out their schemes.

Although digital assets transactions are made being tracked and recorded on the blockchain, users can be anonymous by trading under pseudonyms and usernames. As such, this opacity makes it easier for criminals to onboard and scam victims or conduct money laundering.

Fraudsters’ abuse of digital assets is not a new phenomenon. From 2011 to 2021, it’s reported that criminals operating worldwide have scammed users out of nearly $5 billion worth of cryptocurrency and stole another $3 billion through security breaches.

Proportional to the continuous rise of the interest in digital assets, security is also being the most popular and talked about subject in the cryptocurrency space as digital assets are getting more and more attention from developers and investors.

On another hand, the existing infrastructures of blockchain platforms still do not go far enough to ensure data sovereignty is protected because of its technological limitations.

Back in 2016, the British research firm Cambridge Analytica found that the world’s most common social media platform Facebook was given access to the private information of 87 million users equating to over a quarter of the population in the United States.

In April this year, over 500 million global users of Facebook disclosed personal information, emails, and phone numbers on the internet by hackers. This has shown how big tech companies in the world fail to safeguard consumer data.

These breaches have led governments to contemplate the serious implications especially for national security, the economy, and the sovereignty of millions of people’s private information across the planet.

To implement infrastructures that will safeguard consumer data, as well as cryptocurrency advocates, industry leaders, and blockchain-based platform developers, need to seek alternatives and make improvements to existing technologies.

The implementation of secure multiparty computation technology (MPC) in combination with blockchain is the newest solution that can help to reduce these concerns.

The MPC Token

The distribution of the MPC token is as follows:

  • 20% for the Ecosystem Fund
  • 15% for the Core Infrastructure Team
  • 60% for Token Sale
  • 5% for Token Reserve

MPC token will not be used as the means of payment, it is a staking token to secure the blockchain. Users can stake MPC tokens then receive rewards for being stakers. The reward will be in currencies that will be used as payment.

Because any blockchains can use Partisia Blockchain as the privacy blockchain layer, users can trade in those blockchains with their native token.

Closing Thoughts on Partisia Blockchain

Although blockchain technology has revolutionized the internet and the digital asset market, it still has a lot of work to compete with the traditional internet business model.

Cryptocurrency is the future of money and it requires blockchain-based platform creators to explore and develop technologies to meet regulators’ security demands and users’ privacy desires.

Partisia Blockchain is one of the projects that represent the success of integrating MPC into blockchain technology. The project is creating privacy-preserving collaboration across legal barriers.

Its cutting-edge technology allows a user to control their own data even though it is being used by a third-party service.

The groundbreaking integration of so-called zero-knowledge computation and MPC helps to protect users’ privacy, which is one of the most pressing issues facing people today.

Please click here to learn more about Partisia Blockchain!

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TIME Magazine to Release Metaverse Newsletter

The American news magazine and publisher TIME Magazine announced its partnership with Galaxy Digital – leading financial services and investment management firm on a mission to educate audiences about the metaverse.

An official announcement was made in a press release.

As part of the collaborative strategy, TIME Magazine will open a weekly newsletter and TIME 100 Companies, which features educational content about the rapidly expanding metaverse and Web3 space.

The newsletter will be attached to a section of 100 most influential people across the globe published each year.

Commenting on the exciting move, CEO of Galaxy Investment Partners Mike Novogratz said:

“Over the next decade, the metaverse will become an increasingly important part of the world economy; our physical and digital realities are already becoming hard to distinguish. “We look forward to partnering with TIME, an iconic brand driving innovation, as we seek to bring readers, creators, and the curious into the metaverse and demystify the tremendous amount of transformation happening within.”

Galaxy Meets TIME

Under the partnership, the New York media giant will hold Ethereum on its balance sheet. It’s not the first time that TIME’s deals have been conducted using cryptocurrency.

TIME has teamed up with Grayscale Investments since April; and accepted Bitcoin as payment.

Galaxy’s co-founder and partner Sam Englebard shared his insights about the firm’s plan, saying:

“Before we can build the metaverse, we need to define it, since, today, the word connotes vastly different things to different people. So, with our partners at TIME, our first objective is to create a shared lexicon and understanding of the idea and the opportunities that are emerging as we become an increasingly digital species and continue (and accelerate) our ongoing journey from the physical to the virtual world.”

The Tables Have Turned

Whether you agree or disagree, Mark Zuckerberg’s ambition to transform Facebook into the Metaverse has rocked mainstream and public media.

Facebook was not the first to lay the framework for the metaverse concept, but it has ultimate control over its development. As a result, while Facebook is under fire, it has piqued the curiosity of media outlets and those interested in the metaverse.

TIME Magazine used a portrait of Mark Zuckerberg on the cover of its November issue to send a message to Facebook. An icon depicting the uninstall dialog box with the query “Delete Facebook” and two options “Cancel” or “Delete” covered the CEO’s mouth.

TIME used a photo of CEO Mark Zuckerberg as the cover photo for its latest issue because Facebook has become the center of attention following the publication of the secret history of this social network by Frances Haugen, a former Facebook Product Manager.

He accused Facebook of harming children, dividing ethnicities, and undermining democracy. Frances Haugen also confirmed that Facebook prioritizes revenues over user interests.

Many observers see TIME’s cover photo as a call to delete the Facebook app from users’ smartphones.

The tables have now been turned. TIME got on board.

Lots of corporations, businesses, and individuals have taken the first steps toward creating the virtual space, thereby opening up a world of opportunities and laying the groundwork for the next generation of the Internet.

The Metaverse Won’t be Built in a Day

Play-to-earn gaming plays a significant role in making the idea of Metaverse approachable. For the first time, a complete economic system has been integrated into a digital world, starting with NFT exchange across gaming platforms.

The metaverse is unlikely to be here any time soon. Connections between the metaverse and the real world is also one of the biggest concerns.

As more tech giants join the space the growth of metaverse is a near certainty. One wonders where the decentralized solutions are in this race to build an online world?

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Soda Protocol: A Smart Lending Protocol with Credit System

The Soda Protocol platform was created to merge DeFi Lending with the trustful Sol ID Credit Ranking system. Basically, Soda Protocol’s platform empowers its users to stake SODA tokens to generate liquidity rewards for themselves.

Soda Protocol, which successfully passed the Alpha Devnet community test run for a period of six weeks, is an innovative lending solution now available in the mainnet. Soda’s innovative capital-efficient lending platform is opening the path towards integrating lending with a credit rating system.

More specifically, Soda Protocol operates over loans traced by the Sol ID Credit Ranking system on the Solana blockchain platform.

Soda Protocol’s team, comprised of blockchain and DeFi industry veterans, believed in Solana from its early days, for its potential to become a leader in the current era.

Soda Protocol Makes Lending Safer, More Efficient

As it grew, Soda’s engineers also detected that despite the adoption growth Solana still lacked easy-to-use infrastructure tools and protocols. So they started to develop the Soda Protocol, with the clear intention of creating value for the entire crypto ecosystem.

Soda is implementing a liquidity provision campaign as part of the mainnet launch. This program is called Soda Sparkling and allows users to transfer funds into Soda’s lending pools in return for liquidity rewards.

According to Soda,

  • Soda has well-developed basic lending function, which has one of the smoothest experience on Solana. It has also completed the flash loan, flash liquidation and other features to help users better improve the capital efficiency, and the Soda team will still maintains a rapid pace in product iteration.
  • In Defi 2.0 era, capital efficiency is more important than TVL, and Soda is exactly designed for it: connect the liquidity between different protocols and establishing a credit system to help users accumulate the value of on-chain behaviours, all of these based on improving capital efficiency.

Another feature specially implemented for the launch is the implementation of a retroactive airdrop plan, that will depend on the ‘time-weighted’ of the lent and borrowed amounts operated by community members.

The Soda Protocol Co-Founder, Colin Iliad, commented,

“Soda Protocol is our attempt to improve capital efficiency for the entire DeFi ecosystem. We will start from a basic lending protocol and introduce a special mechanism including a credit system to provide a liquidity pool and leverage tool for other protocols in the ecosystem, to make the liquidity on-chain have a better “flow” and be used better.”

Soda’s engineers not only wanted to break DeFi’s limitations adding scalability but also wanted to generate value for the entire Solana ecosystem.

The Soda lending platform generates revenue in three manners: lending of course, the on-chain credit system and the composability modules.

Francium and Slope Finance are two of the decentralized exchanges to offer the first cross-platform wallet in the Solana blockchain developed by Soda.

Soda Protocol is basically a smart lending protocol linked to a credit system, being this feature innovative enough to help DeFi and We3 develop and grow.

Soda Features

Soda Protocol has created a deep platform that is simple to use.

Here is how the platform is organized:

Basic Lending

  • Lending interest fee and flash loan fee.
  • Liquidation bonus.
  • Arbitrage and lossless farming with idle funds.

Credit system

  • To business, under-collateralized loan service fee.
  • NFT selling. Accumulate achievements and reputations, which is the basis for credit system.
  • Ticket for joint operations.

Challenging the current DeFi models of trust research, Soda protocol is linked to the innovative Sol ID credit system on Solana.

The benefit of using Soda Protocol is remarkably clear for DeFi users, DeFi institutions and other DeFi protocols because it offers many features from basic lending functions up to a credit rating system.

Soda Protocol is also a lending market for NFTs utilizing liquidity provider (LP) tokens and synthetic assets. Users will need to have a good credit score by staking a fair amount of SODA tokens to access the services described here.

The Soda engineers behind the project are postponing all fundraising activities for later on, since the plan is to build a solid product first.

As the overall strategy, the Soda platform dev team wants to reach those users within the Solana network willing to transfer assets through a cross-chain bridge or those who already have assets participating in the liquidity pools.

Even if already consolidated loaning platforms existed in Solana’s network, like Port Finance, Solend, Apricot, Jet Protocol, Larix, Acumen Protocol, Soda is different from its competition by incrementing the capital efficiency or ROI.

As a first step, users must select which lending protocol is its grounds, as their starting point. Immediately the Soda platform will integrate an on-chain credit rating system to the user’s profile, called Sol ID, being this feature the flagship of Soda’s uniqueness in comparison to other competitor’s protocols.

Once the credit sistem Sol ID is active the user can benefit from dynamic Loan to Value (LTV) if the user’s credit scores is good enough (on-chain trust behaviour) and under-collateralized loans to protocols/institutions also depending on their credit score (on-chain behaviour).

SODA has taken a different path compared to its competition- protocols and institutions receive under-collateralized loans in relation to their credit system Sol ID. This system increases capital efficiency even higher for large clients.

So that risk is kept to a minimum for every investor, Soda utilizes a clever risk management mechanism for loan recipients and loan assets: participating in insurance pools and DAOs governance.

Don’t Just OWN Assets, Use Them!

The Soda Protocol engineers believe that measuring the development of DeFi exclusively by TVL (Total Value Locked) is inconvenient. Another means of measurement should be the capital efficiency of an asset locked in the protocol.

Soda put its effort in providing liquidity for the correct use of assets (not the ownership of these). The capital efficiency of the lending protocols need to bring out the use value of more tool assets (used as both production and reproduction means)

After the lunch in mainnet, Soda is promoting SODA token staking by implementing a global pool. The amount of staked SODA raised in this activity will become the initial insurance funds.

The DAOs (Decentralised Autonomous Organizations) will be managed through Sol ID. And those users staking SODA tokens will gain governance rights within Sol ID platform.

Soda Protocol is also renowned for its user-friendly front end, Other benefits will be:

  • A more user-friendly experience.
  • A higher token utilization, with a resulting higher interest rate.
  • The ability to accumulate good on-chain behaviour with the Sol ID credit model, which is a certificate for having exclusive rights in the future.

Learn More About Soda Protocol

Because it is based on Solana, Soda has an edge over the Ethereum ecosystem due to Solana’s high speed and concurrency, thereby enhancing the product experience.

Easier-to-use products are more likely to be recognized by users. Soda has achieved a more humanized and intelligent product design and implementation, and the user experience is smoother.

Currently, there are data and liquidity gaps between the various protocols, which leads to overall capital inefficiency of the blockchain ecosystem. Soda Protocol is addressing all of these issues, and creating room for the DeFi ecosystem to grow at a macro level.

To learn more about Soda Protocol, just click right here!

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Project Venkman Teams Up Ethereum-Based Platform Acala to Launch Loyalty & NFT Platform

Project Venkman, an e-commerce engagement solutions platform for brands to attract customers, has announced the partnership with Acala, an Ethereum-compatible smart contract platform.

It plans to develop a portfolio of engagement solutions for brands, which takes advantage of on-chain loyalty points and NFTs.

Launching The Loyalty and NFT Platform for Venkman’s Client

According to an official announcement, the first product under this newest partnership is the launch of the loyalty and NFT platform built for Venkman’s first client, known as theCHIVE which is set to serve 10 million monthly active users mainly living in the United States.

Since its launch, theCHIVE has made over $400 million in revenue through its robust e-commerce business.

Project Venkman is an e-commerce engagement solutions provider by leveraging blockchain and NFT technologies.

The project was founded by executives of theCHIVE, an online community that has merchandise partnerships with some celebrities such as the estate of Chris Farley and Bill Murray.

The startup’s vision is to help brands reimagine and how to evolve outdated loyalty points models by bringing transparency to the historically opaque ecosystem of consumer rewards programs.

If the company’s enterprise rewards programs previously have not been clear and affected the interaction of consumers in redemptions and engagement.

Through the adoption of emerging blockchain and NFT technologies, Project Venkman provides branded community crypto tokens and treasury management tools aiming to help businesses to create better transparent programs while also delivering users tangible rewards for their purchases.

Clients can also create digital collectible NFTs which are used for integrating into community engagement programs.

Founded in 2019, Acala is an Ethereum-based platform that is optimized for DeFi and expanded DApps to Polkado. Its built-in DeFi protocols are available for developers, including a decentralized stablecoin, Acala Dollar (aUSD), trustless staking derivatives (LDOT), and a decentralized exchange.

Besides, Acala has received support from many leading companies such as Polychain Capital, Digital Currency Group, Arrington XRP Capital, Coinbase Ventures, and Pantera Capital.

Speaking on the strategic partnership, Gavin Gillas, CEO at Project Venkman said,

“We’re pleased to partner with Acala and work across the Polkadot ecosystem to bring a new class of rewards to brands and communities around the world. DeFi brings so many opportunities for consumers to own their loyalty rewards and we’re proud to collaborate with Acala to make this happen for millions of users in the coming months.”

More Feature Coming For theCHIVE Members

By being built on Ethereum, Acala is a good technology platform for Project Venkman to customize for all of Venkman’s client demands with low transaction costs while having the ability to open scale for millions of users.

Acala’s network is set to launch in late 2021 and theCHIVE’s integrations will be deployed after the Acala’s launch in the weeks.

In addition, new digital wallets will be available for theCHIVE users to earn community tokens and enjoy its NFT offerings. Tokens can be used for purchases, content uploads, comments on the website among other utilities.

Tokens also can be converted to merchandise credit, digital rewards, and access to exclusive sales or events on the platform.

Blockchain Technology and NFTs Continuously Disrupting the Cryptocurrency Space

The world has seen the boom of blockchain technology and the NFT era. As people are increasingly demanding information security, transparency, and speed in transactions, as well as asset storage, more and more individuals and enterprises choose blockchain technology-based services.

Therefore, it has led thousands of startups and integrations to be established yearly.

Blockchain technology and NFTs have made revolutions in a range of industries like art and gaming. Not only are they a place for people to store their creative products, but they also allow them to make money. There’s still a lot of potential for people to explore!

The post Project Venkman Teams Up Ethereum-Based Platform Acala to Launch Loyalty & NFT Platform appeared first on Blockonomi.

Microsoft’s Phil Spencer Says NFT Integration Won’t Happen With Xbox

The gaming industry is a budding NFT ecosystem. NFT games are exploding as a new trend and creating an impact in the gaming market today.

A wide range of major gaming corporations and businesses have entered the market. Unlike other companies, Microsoft is not interested in jumping on the bandwagon, at least at this point.

NFT games are built and developed on a blockchain platform that tokenizes in-game assets, allowing players to collect items in the form of non-fungible tokens.

In addition to entertainment, this type of game also allows players to gain an income, and in-game items are tradable assets on the open market.

Microsoft Hesitates To Get On Board

Microsoft definitely wants to operate in markets it can control.

Its team knows better than anyone else that NFTs are here to stay and it’s just the beginning for the next big thing in the gaming industry. But at this point, there’s no reason to rush – or so the company thinks.

Phil Spencer, Xbox’s head of gaming, a popular game series established and managed by Microsoft, expressed his doubts about NFTs in an interview with Axios.

Spencer was candid about his ideas and concerns about NFT integration.

To wit,

“What I’d say today on NFT[s] is, I think there’s a lot of speculation and experimentation that’s happening, and that some of the creative that I see today feels more exploitive than about entertainment.”

NFTs, also known as non-fungible tokens, are one of the year’s trends.
Blockchain-based NFT games are gaining popularity; many of them are built with a play-to-earn framework, allowing users to earn rewards while playing their games.

Some games have been criticized for over-supporting NFT platforms while disguised as a real game. Take Dead by Daylight. Despite the criticism, the game’s studio has declined blame and stated that it only works with NFT firms.

Xbox, on the other hand, is different.

While Spencer has not stated his opposition to NFT integration, it is evident that Microsoft has scrutinized NFTs and finds no reason to enter the space too soon.

Rather than participating in the space amid the NFT craze, Xbox is more focused on keeping users entertained.

Spence commented,

“And I can understand that early on you see a lot of things that probably are not things you want to have in your store.”

As the Xbox CEO, Spencer’s comments carry a lot of weight in the overall gaming space.

Xbox is currently the second largest game operating system market share globally, in the gaming console segment while PlayStation is the largest one.

While Xbox may be uninterested in NFT games for the time being, other game studios, such as Ubisoft, have lately confirmed an investing interest in blockchain and NFT gaming.

It’s unclear how these developers intend to use them in future games. On the other hand, part of the gaming community is unlikely to show any support for platforms that don’t go NFT.

NFTs Are an Advantage

The blockchain game field has encountered many difficulties in recent times in establishing a good relationship with traditional game platforms.

In the case of Steam, the platform banned NFT games in mid-October, prohibiting any new NFT titles from being added and wiping the existing NFT collection.

Despite the setbacks, many companies’ investments in the blockchain gaming field continue to develop significantly, with massive capital raising increasing.

Through GameFi, which refers to the financialization of games, the significance of blockchain in revolutionizing the gaming sector appears to be growing.

The gaming industry is one of the frontrunners in determining NFT’s full potential, with retailers and Twitch streamers both attempting to monetize the platform.

Several other Twitch streamers have decided to reject NFT funding in order to maintain their player-focused purpose and vision.

Obviously, the future is unpredictable.

However, whether Xbox and Phil Spencer integrate NFTs into their products or not, gamers can be comfortable knowing there will be loads of NFT games hitting the market in the coming years.

The post Microsoft’s Phil Spencer Says NFT Integration Won’t Happen With Xbox appeared first on Blockonomi.

SynFutures: A Synthetic Assets Derivatives Exchange

Blockchain technology is creating the future of fintech. It began as the basis of cryptocurrencies such as Bitcoin, but today, SynFutures is taking decentralization to the next level.

Blockchain technology has real potential and is only now being developed in ways that can realize this potential. Even with all the early innovations, the power of DeFi is still latent.

Many blockchain projects, such as decentralized exchanges, allow the trade of cryptocurrencies have been launched and the newest one is SynFutures.

Unlike other DEXs, SynFutures offers some amazing new trading products.

SynFutures Takes Futures to the Next Frontier

SynFutures is a DEX that uses smart contracts that hold liquidity reserves and works according to defined pricing mechanisms that play a key role in the development of an independent decentralized ecosystem.

The goal of the project is to become the Uniswap for crypto derivatives.

Entering the Fintech space, SynFutures is the newest open and decentralized derivatives platform supporting a variety of assets to be synthesized and freely traded, including Ethereum native, cross-chain, and off-chain real-world assets.

The popularity of blockchain technology is thanks to an endless, transparent, verifiable register of transactions. Blockchain operates without central supervision, so the networks are resistant to fraud.

Blockchain technology is one of the most significant innovations in how data is used since the launch of the internet.

One of their most appealing features is smart contracts which are not only gaining widespread use but also are easily created. Smart contracts are able to replace traditional contracts which are often slow and expensive.

Smart contracts can streamline complex processes that involve several intermediaries, therefore, this also has led to them becoming popular in the blockchain industry.

SynFutures is using smart contracts to give investors and traders the ability to trade crypto derivatives. Unlike many DEXs, that focus on tokens, SynFutures is making crypto derivatives simple to trade.

The appearance of decentralized exchanges (DEXs) also allows holders of crypto assets no longer need to leave the crypto space to swap their tokens.

SynFutures takes this model, and lets people trade and speculate in a range of assets, without the need to trust a central exchange.

SynFutures Brings Derivatives to Digital Assets

SynFutures is a decentralized derivatives platform launched by founders who have rich experience in Defi and Tradfi. The platform is set to launch a decentralized futures market first, then expand its products to become a one-stop shop for derivatives.

A derivative is a financial contract with a value linked to an underlying asset that has price movements. It is used as a tool for hedging and speculation.

In its first version, SynFutures launched a digital asset futures market including futures contracts for almost any asset and with expiration dates created by liquidity providers.

It also uses a Synthetic Automated Market Maker (sAMM), which allows market participants to provide one single digital asset of a trading pair only and the smart contract to synthesize the other, and a Automated Liquidator (ALQ) to reduce the entry barrier of liquidators while also helping automate the liquidation process.

SynFutures was established when the founders realized that derivatives have a huge potential market in the crypto space. Derivatives comprised approximately 70% of the total trading volume of traditional FX derivatives transactions in 2019.

Looking beyond the crypto space, the potential of DeFi is opening new market segments. DeFi is outperforming the traditional financial system, where there are major issues.

A Way Forward for DEXs

DEXs allow anyone to be able to access financial services from anywhere on the planet.

They also are a viable option for people in regions, where banking services are too expensive compared to income, little trust in financial institutions persists, or just financial institutions are simply too far away.

In principle, all they need is electricity, an internet connection, and smartphones. Therefore, this creates a fair ecosystem.

There are usually no registration requirements for DEXs so that people don’t need to provide their information to third parties. Therefore, privacy will be better secured in this space.

In addition, although CeFi derivatives exchanges were able to attract massive attention at first, they still have a number of limitations, including controversial behind-the-scenes mechanisms, and operational inefficiency that limits the variety of trading pairs, and credibilities of Cefi exchanges.

SynFutures is the first futures trading platform that offers Users Generated Markets, a Single Token Model, and Unique Financial Logics.

A User Generated Market is any strategy that allows customers to take part in the creation of the advertising content or the marketing process. This strategy has become increasingly important as it creates a more interactive and engaging experience for consumers.

Users Generated Markets from SynFutures allows anyone to list any trading pairs in 30 seconds and any project to create its own futures market margined in project tokens.

Meanwhile, Single Token Model allows to trade and list crypto majors, altcoins, NFTs, indices, and real-world assets with one single token via its sAMM model. Unique Financial Logics supports long-tail assets even with thin liquidity as well as rigid risk management.

Why SynFutures?

SynFutures supports the trade of digital assets at any time.

Users can create their asset pairs in a permissionless way, and take leveraged long or short positions based on anything such as BTC, altcoins, gold, hash rates, NFTs, and real-world assets.

What makes SynFutures apart from other decentralized derivatives platforms is Users Generated Markets and Unique Financial Logics features.

The decentralized derivatives platform SynFutures approaches both individual users and business clients. Users can find their favorite assets in multi-class and the latest trending asset. It was built to capture the most desired assets on any chain.

For developers, they can do initial futures offering using a rigid Futures model. The platform futures of their project token to boost liquidity allowing them margin and yield farming in the tokens to create demand.

Currently, Synfutures will charge 0.3% on the traders’ transactions. From this, 0.25% goes to LP. 0.05% goes to reserve.

Synfutures launches two new products, including hash rate futures and non-fungible token (NFT) futures.

Its decentralized hash rate futures allow users to bet on many parameters. On the other hand, the team behind Synfutures also would like to leverage the bloom of the NFT market, so that the NFTures product was launched.

Users are able to bet on the future price of NFTs as what works on traditional futures. As such, investors can also use NFTures to trade long and short positions on their collectible instead of only buying and holding NFTs.

As a result, this scales a new market and allows investors to follow more sophisticated trading strategies for speculating and managing risk.

Closing Thoughts on SynFutures

Derivative products are continuously increasing their popularity as potential investment instruments.

While customers only get returns when the assets appreciate in traditional investment, derivative products allow them to enjoy potential gain even when the market is stable or evolved.

SynFutures helps users to approach next-generation derivatives products amid the blockchain technology era that is blooming across many industries.

With SynFutures, users can easily list their own futures contracts in a permissionless way. The platform is designed as a user-friendly, decentralized platform, and can be compatible with as many trading pairs as possible.

SynFutures is currently live on Ethereum, Polygon, Arbitrum, Binance Smart Chain, and plans to continue integrating new networks over time. To learn more about the platform, just click here!

The post SynFutures: A Synthetic Assets Derivatives Exchange appeared first on Blockonomi.

AVARTA: The Next Level in Crypto Biometric Authentication

As crypto adoption continues to expand globally, user security in terms of authentication is definitely one of the big challenges to the crypto environment.

The need for a solution like Avarta, a multichain wallet, with biometrics security, Trust Score records, and cybersecurity platform for the ever growing DeFi, is absolutely necessary.

Avarta’s most distinguishable feature is its unique manner of addressing the many security flaws in authentication within blockchain platforms. Avarta came up with a groundbreaking solution to address the user id challenge in the crypto finance universe as well as traditional markets.

Avarta simply uses your face, yes your own and irreplaceable face details as your private key to multiple wallets and blockchains, explained in simple words.

In other words Avarta is a solution for the blockchain industry and crypto companies bringing new standards of authentication to serve the crypto industry. Avarta offers a decentralized proof of identity in opposition to outdated standards from centralized organizations.

More specifically, Avarta is an advanced security enabled wallet that enables its user to control their private keys at a complete user’s discretion and freely across multi-chain platforms.

Thanks to Avarta, users can consolidate all of their keys in a single Avarta wallet that requires no ID and password, no seed phrases and of course no need to keep the phrase in a ‘never-too-secure’ piece of paper.

Avarta Makes ID Work on Blockchain

Avarta makes its authentication process work through a combination of biometrics and the device’s data. After the user’s successful login utilizing a human face to certify identity, users have access to control its private keys conveniently.

The level of security and trust upon this biometric authentication procedure is up to military grade, making it a robust and hack-safe authentication solution for crypto wallet providers.

But Avarta not only watches for the authentication safety, but assign a Avarta Trust Score based on user’s full transaction history.

This user’s transaction log book serves as a scorecard or ‘credit rating’, to support the user’s reliability at investments, loans taking or borrowing or any type of operation in DeFi. This ‘scores keeper’ book is very valuable for DeFi professionals, since most crypto financial operations are primarily based on trust.

However, unlike classic and centralized credit ratings, Avarta leaves the full control in the hands of the user. It is the user who chooses when and how the users’ information is disclosed. Users may even keep the ‘anonymous’ profile as long as it is allowed by the platform in use.

In a nutshell, Avarta is a secure, private and user-controlled crypto authentication layer that leaves full-control powers into the users’ hands.

Four-in-One Authentication Layer

Avarta is a patented solution for the DeFi and blockchain authentication security.

The core four components that makes it unique are:

1 – Multichain blockchain wallet with Biometric-security

2 – Anti-bot technology for public DEX lists

3 – Multi-signature wallet for legacy planning and corporations

4 – Decentralized identity management with Trust scoring mechanism.

The beginnings of the Avarta project dates back to 2017, when a multi-factor biometric platform was released, capable of detecting active biometrics (eg facial) and passive biometrics (eg fingerprint) in real time.

Since its birth, the Avarta developer team has had Prince Abdul Qawi, Prince of Brunei backing from its initial Seed Round.

Later the following Private Rounds were backed by remarkable investors like Magnus, x21Digital, CRT and Maven Capital among other companies. The Avarta project counts with supporting partnerships from companies like Cheqd, GBC.ai, and SupraOracles.

Also, Avarta’s biometric wallet is currently on Testnet for Ethereum, Binance Smart Chain and Solana). According to the Developers’s Team at Avarta, by the end of this month the smart contracts will be audited by Certik.

Another milestone worth mentioning is that Avarta has registered patents in the USA (patent No.10,277,603) & and in South East Asia (Malaysia Patent: No. MY-176069-A) related to the ability of authenticating transactions in a multi-faceted manner.

Finally but most importantly, Avarta works with NCSC (National Cyber Security Centre) (GCHQ) on a proving of grounds certification.

Avarta’s Initial Support

Avarta’s Chairman and primary investor is Prince Abdul Qawi of Brunei. Prince Qawi is also Chairman of the National Insurance Co Bhd of Brunei and is renowned for having invested in and supported many high profile tech projects.

The Avarta Management has invested over $4million into the existing biometrics platform. Going into its launch, the Avarta project has raised over $2 million from a mix of Prince Abdul Qawi of Brunei’s investment combined with VC funds X21 Digital, Magnus Capital, Maven Capital and Andromeda Capital. They plan to raise further funding into the public sale.

Avarta’s Solution Against Hacking:

Avarta’s users can take the advantage of combining several wallets from multiple chains into a single, non-custodial wallet operating over a new crypto authentication layer.

The Avarta wallet allows users to swap and stake digital assets on DeFi protocols. Also the Avarta Trust Score technology allows users to lend digital assets at convenient rates.

When users voluntarily opt into Avarta’s exclusive biometric feature and/or opt into building their own Trust Score, users grant themselves streamline interaction and access to a broader financial catalogue available in the world of DeFi.

Avarta’s Competitive Drivers

Because of the Trust Score feature, users will benefit from lower collateral loans increasing the acquisition compliance.

Avarta’s Trust Score allows the use of avatars in various metaverses to provide decentralized transparency, allowing peer-to-peer and institutional transactions on the metaverse.

The Avarta wallet is a securely installed app on a mobile device acting as a hub to a portfolio of wallets with a secure biometric access requirement.

The solution appears in the market in good timing with the tighter enforcement of FATF’s Travel Rule, pertaining to anti-money laundering laws for the DeFi space.

Avarta’s Native Token, Three Ways

Avarta’s native token has a variety of utilities, which we categorised into three groups: service-oriented, rewards-oriented, and governance-oriented.

Service-oriented benefits paid in Avarta’s native token exist to linkup and promote Avarta’s products and services. Avarta’s proprietary crypto currency follows the main fundamental: the finite supply of tokens grants the scarcity value that varies proportionally with  Avarta’s products demand.

Users with a higher membership tier within their Trust Score records take advantage of accessing reduced fees and exclusive offers like better loan rates and larger benefit in returns when paid with the native token.

Reward-oriented benefits are meant to leverage the value of the service-oriented utilities. In other words, these rewards with Avarta’s native token is used to compensate early adopter support and contributors so necessary to continue developing and improving Avarta’s services.

For example these reward-oriented benefits include revenue sharing through APY returns, circumstantial trading to ensure the token value’s increment in time, and new users’ referral bonuses.

Governance-oriented utilities are implemented as a way of recognizing the User as an official stakeholder in the decision making process and rulebook definition within the Avarta community.

These Governance utilities provide its holders with the means to participate in important decision-processes that will affect the development of the platform.

How to Start:

The first step is to set up a profile within the Avarta platform. Setting up a new profile necessarily includes generating a Trust Score, configuring a new multi-chain wallet with biometric user authentication, and finally signing up for whitelisting purposes.

These three initial steps don’t necessarily involve the use of Avarta’s native token, but will enable any other token use cases.

Your “Avarta” or New Digital Self

At the Avarta Platform users create an “Avarta” of themselves to associate to their wallet addresses.

The user sets up its Avarta choosing which information needs to be informed in its digital identity, configuring different levels of access to specific information to trusted parties.

Users also gain priority access to centralized platforms with whitelisting requirements.

A Great New Way to Track Biometrics

Avarta is basically a Multi-Chain Consolidated Crypto Wallet with the highest (military grade) level of security.

Thanks to their patented solution that combines biometric authentication in addition to machine-learning tools capable of replacing the need for passwords, private pins or security tokens. It is a way of linking the User’s multiple wallets to a single clear console.

Avarta has respectable competitors like Celsius, DegenScore, Spectral Finance, ZenGo or XDefi but none of these reach the same level of security granted by Avarta’s creative solution that provides a unique decentralized transparency.

Avarta’s solution utilizes data already collected by people’s mobile devices to create a highly secure multi-chain wallet. The Avarta wallet stores the user’s keys and transaction history generating a ‘credit log book’ that eventually improves the User’s efficiency in the DeFi ecosystem.

The Avarta solution is meant to service DeFi applications. Avarta becomes a sort of reliability certifier on behalf of its users, whenever they invest, lend or borrow crypto assets.

The main difference with centralized solutions though, is that Avarta leaves full control to the user. It will always be the user, the one determining the information disclosed.

To learn more about Avarta – just click right here!

The post AVARTA: The Next Level in Crypto Biometric Authentication appeared first on Blockonomi.

Coinbase Reinvests $180 Million Profit in Crypto: Ethereum & Bitcoin Still Top Tokens

Coinbase has released its 3Q financial summary, highlighting key business and financial metrics, a report of the previous quarter as well as in-depth insights into the crypto market.

According to Coinbase’s report, although institutions have split their interest into other crypto assets, Bitcoin and Ethereum maintain their leading positions. This fact is proven via the trading volumes on Coinbase.

Coinbase Sees Bright Future for Tokens

The major crypto exchange has a long-term strategy to expand its support for the two leading digital assets.

According to CFO Alesia Haas’ statement, Coinbase has reinvested profits into crypto this year, the estimated total amount is $180 million.

She commented,

“In the big picture, our goal is to become vast majority, if not 100%, crypto over time. We’ve made two commitments. The first was to invest $500 million of our cash and cash equivalents into crypto…And second, we’re allocating 10% of quarterly net income into crypto investments. We’ve invested upwards of $180 million year-to-date as measured at cost.”

Coinbase has invested $540 million in Bitcoin, Ethereum, and other crypto-assets.

The Race to Market

From the very beginning, Bitcoin has been the coin of other coins. Coinmarketcap.com reported that Bitcoin currently has a market capitalization of around $1.246 trillion.

The key difference between Bitcoin and traditional fiat currencies like the USD or Euro – all of which are under the control of a central bank, is that Bitcoin is totally decentralized.

Many Bitcoin advocates refer to the virtual currency as a “store of value” – a status often attributed to traditional safe-haven investments like gold. They argue that Bitcoin is a good tool to combat inflation, an issue that is causing concern among investors globally.

If Bitcoin is always in the first place, then Ethereum is always in second place in the crypto sphere. The market capitalization of Ethereum is currently over $560 billion.

The Ethereum system came in 2015 as an open-source software based on the blockchain, and Ethereum is the digital currency that empowers the whole system.

This year, the price of Ethereum has increased by more than 500% and has even broken the record. Investors believe that Ethereum will be the key to the decentralized finance sector including smart contracts, NFTs, and the next expected big thing: Metaverse.

The Ethereum system was created to extend the functionality of blockchain technology away from Bitcoin so that the underlying technology offers wider applications than just a virtual currency.

Unlike Bitcoin, Ethereum’s supply is unlimited. New Ethereum tokens are constantly being created through the same mining process as Bitcoin mining.

The long-waited Ethereum 2.0 upgrade phase is approaching. Meanwhile, investors agree that Ethereum 2.0 will feature many new tools.

Expectations about the network consist of faster speed, improved security, and high scalability which enables thousands of transactions to process per second on the blockchain.

No Clear Winner Going Forward

Many people still compare Ethereum to Bitcoin and hope that Ether will soon be able to overtake the largest cryptocurrency. However, this is very unlikely to happen anytime soon.

If the drawback of Bitcoin is its volatility, for Ethereum, the only challenge is that Ethereum’s development is incomplete, so it is difficult to predict what improvements will come true.

This may create a lot of confusion in the investment process.

Because of this, it is unlikely that ETH will surpass Bitcoin in the near term. However, in the future, the cryptocurrency market is still subject to many changes, so no one can predict what might happen.

Additionally, other coins such as Solana, Tether, Cardano, or Binance Coin are getting stronger support and driving more interest.

Despite the distance between the two leading coins and the rest, tomorrow is a mystery.

Any new cryptocurrencies could disrupt the situation at any time just look at how technologies are always at risk of being displaced. It is the race of belief, the coin that stands the test of time, and adoption is the strongest coin.

The post Coinbase Reinvests $180 Million Profit in Crypto: Ethereum & Bitcoin Still Top Tokens appeared first on Blockonomi.

The Celebrity NFTs Debate: Artworks Or Gimmick?

NFTs

There is no doubt that the NFT craze is sweeping the globe, attracting a large number of investors into the market.

Startups and creatives are also thinking about how to transform their products into digital assets.

It’s difficult to stand out in the NFT industry today, especially when hundreds of other celebrities have already come on board.

The Rise Of NFTs In Entertainment

Many celebrities are entering the NFT market, demonstrating that art in the form of NFTs is the new trend after Bitcoin, with billions of dollars in revenue.

Anyone, from British painter Damien Hirst to model Paris Hilton, can create one.

Hilton has been collecting and making NFT works since 2016.Hilton displays her work through screens at her Beverly Hills mansion. In April, her animated portrait in NFT sold for more than $1 million.

For NFT advocates, this is a technology that will change the buying and sale of works of art, opening up a plethora of prospects for artists.

Hilton, with a luxurious lifestyle that is far from the traditional artist, is a suitable model for the NFT movement.

With the expansion of NFT platforms and creators in just a few short months, NFTs have become immensely popular, to the point that NFT costs are no longer cheap.

Unlike the first stages of the boom, NFT products are being sold at a very high prices right now.

More Praise for More NFTs

Not only Paris Hilton, but many public figures, such as Snoop Dogg, Lindsay Lohan, John Cena and Shawn Mendes are investing in NFTs.

NFT asset sales surged by more than $2 billion in the first half of the year. However, not everyone who joins will be successful.

While it is entirely conceivable for a celeb to make a profit with their first NFT, this will not be the case for all celebrities. Similar to building a fanbase, becoming a reputable, talented and serious NFT artist in the eyes of the public will take time.

Unlike the typical business approach of selling artwork through commercial galleries, NFTs can acquire and sell without the use of intermediaries.

Artists can sell their art directly to the public, usually via a professional auction site. The NFT market is available to anyone, and the price of the piece is public, as opposed to traditional galleries, in which the cost is unveiled.

Furthermore, in the traditional market, the original author receives almost nothing when the work is resold by the collector at a greater price. After each resale, NFT still produces a profit for the author in most cases.

Not Always a Gold Mine

Celebrities’ participation resulted in surprising yet understandable outcomes.

According to critics and artists, the NFT market is a lucrative space for money-hungry people whose creations do not deserve to be classified as art.

Many people wonder if NFT symbolizes cultural values in the age of digital consumption, or if it’s just a gimmick to earn money in an unsustainable way.

The NFT world and the art media system differ in their financial models. Many in the art world believe that the NFT does not deserve to be regarded as a work of art, and that the author and seller are unlikely to be serious art enthusiasts.

Celeb NFTs are lacking value: the story behind the item, the feelings it invokes, and the work’s inspiration set it apart from the millions of other NFTs on the market, which discourages long-time NFT investors to make contributions.

With NFTs, the line between artworks and assets seems to disappear. An auction site has taken the place of a properly managed exhibition. The price of the sale, not the meaning behind, governs the job.

When celebrities wish to advance their popularity using NFT, it is critical that they develop community, cultivate and expand their fan base.

They can also demonstrate to the community the real value of their collections that distinguishes them from other artists, rather than focusing solely on making a profit.

The post The Celebrity NFTs Debate: Artworks Or Gimmick? appeared first on Blockonomi.

Popular Tezos-Based NFT Marketplace Hic et Nunc Closed With No Explanation

Recently, a leading Tezos-based NFT platform – Hic et Nunc suddenly announced its shutdown without providing any reason, leaving the NFT community with many questions.

A lot of NFT marketplaces have come to market but not all of them achieve success. Even atop marketplace could disappear.

Starting as an ETH protocol, NFTs have now created their own ecosystem and undoubtedly become one of the most prominent trends in the market today.
Tezos’ entry into the NFT market has attracted the attention of investors, but this event may dent the popularity of the platform.

Hit et Nunc Folds

On Thursday, Tezos’ Hic et Nunc website suddenly disappeared without explanation. The only leftover was an update on Hic et Nunc’s Twitter, simply reading “discontinued.”

Shortly after Hic et Nunc disappeared, its Twitter page sent a final goodbye to the community with a Tweet about the smart contract to the community.

Apart from Hic et Nunc’s Twitter activity, no official explanation has been given for the sudden disappearance of the platform, although there have been numerous rumors swirling around.

According to @McRudeManners, Hic et Nunc’s “Raf” developer may have made the decision out of will because it was motivated by the negative messages they received.

Although users couldn’t now access the platform interface (as it completely disappeared), they can still see NFTs listed on objkt today.com, and obviously the NFT smart contracts are immutable.

Despite only 8 months in the market, the marketplace achieved notable milestones that any marketplace once wanted.

Launched in March this year, it took only two months for Hic et Nunc to surpass OpenSea – one of the leading NFT markets to become the largest NFT platform by number of daily active users.

In the last month, Hic et Nunc had 30,000 unique active wallets, more than double the number of active wallets on the Objkt platform, Tezos’ current largest NFT platform.

The Hic et Nunc platform, built on Tezos’ open-source proof-of-stake blockchain, quickly drove adoption due to its cheap mining fees and much higher energy efficiency than Ethereum.

These are also the reasons why many chose to switch over Hic et Nunc, rather than continuing with Ethereum.

Al artists Joanie Lamercier and Memo Akten were among the first to switch from Ethereum to Hic et Nunc. Both rely largely on platform power to make their jobs easier, and both mention the atmosphere as a major factor in their decision to leave Ethereum.

On the other hand, a part of Hic et Nunc’s community felt annoyed because the marketplace simply closed without any explanation. Some even believed that the platform was attacked.

Overall, the untimely shutdown of Hic et Nunc has caused regret in the NFT community.

Many individuals were impressed by its transparent, efficient and inexpensive functionality.

When Ethereum 2.0 is released, the network is expected to function better with a cheaper transaction fee and a greener carbon impact.

Meanwhile, Solana – the strongest Ethereum’s competitor at this time is still running strong, with new NFT minting capabilities and a comprehensive set of features.

Solana has been moving fast over the past year, its speed and negligible fees make it a preferred blockchain for many crypto traders.

OpenSea Still Dominates The Market

Many NFT marketplaces have come and gone, but OpenSea has maintained its dominance for a long time.

The platform’s simple listing features, powerful filtering and cataloging system, and the company’s wide range of assets may all play a role in its domination. On OpenSea, the distance between users and the launch of NFT is merely a few clicks.

The lead held by OpenSea may appear insurmountable. Long-time players are joining the space, resulting in increasing competition, which may cause OpenSea to lose market share.

Another major drawback is that OpenSea only supports Ethereum, with no support for other popular blockchains like Solana, Cardano, or Tezos.

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Nexo Will be Buying Back a Record $100 Million Nexo Tokens in New Program

Nexo

Nexo hit the markets with a record breaking announcement. The platform plans to dedicate $100 million USD worth of capital to buying its token. The token trades on the open market, and this move should help to both boost the value of the token, and reward Nexo users with better liquidity.

Like any buyback, the purchases will be done by the company, and each buyback tranche will be held for at least 12 months before being used for token mergers with applicable vesting schemes that are a massive help to Nexo token holders.

This move by Nexo comes after a similar program was a smashing success earlier in the year. The program was worth $12 million USD, however the current buyback program is much larger. This may have an outsized effect on the value of the Nexo token, especially if it becomes a common strategy for the platform.

Nexonomics 3.0 is Taking Off

It should be pretty obvious that Nexonomics 3.0 is here to stay. The buyback of tokens is a key part of this new tokenomics, and it has already given way to amazing results for the Nexo token.

The token hit an record high of $4 this year, and with the huge interest rates that Nexo offers lenders on the platform, this figure may seem low in the coming years. With a guaranteed buyer, the markets will likely take a kind view of the Nexo token.

Antoni Trenchev, Co-Founder and Managing Partner at Nexo, told media,

“The buy-back program announced today reflects our strong financial position and underscores our ability to simultaneously upgrade our products, maintain a strong balance sheet, and invest in alternative growth strategies, all while providing significant utility and growth to NEXO Token holders. As Nexo’s market share increases and the industry matures, we’ll continue to seek acquisitions and token mergers to cement our leadership position in the crypto lending ecosystem.”

The simple fact that Nexo is addressing its tokenomics with Nexonomics 3.0 should help attract fresh capital. Even if the platform didn’t offer high interest rates, the token would be attractive with these kinds of offers on the table.

In some ways, markets are simple. One of the most simple things that everyone understands is supply and demand. Apparently Nexo has been successful enough to pad its coffers with cash to buyback its tokens, which will be used to make the entire ecosystem even better.

More Liquidity in the Nexo Ecosystem

Markets live and die by their liquidity – and with Nexonomics 3.0 – it is fair to say that the Nexo ecosystem will be far healthier. When there is more liquidity in an asset, major moves are cushioned, and the overall performance of the asset rises.

Nexo is a lot more than a token, and this will also help the platform over the medium term. With massive demand for yield, the returns that Nexo delivers will continue to attract clients. In fact, as more institutional investors look for yields, Nexo may see a rush into its platform.

It is simple, there isn’t much in the way of yield on offer in legacy assets, and central banks are creating massive amounts of inflation. In short, this is a perfect storm for a platform like Nexo (in the best possible way).

Nexonomics 3.0 is bigger than buybacks, but the capital that Nexo has dedicated to ensuring that its token has both a fair value, and ample liquidity, is impressive. As returns from other fixed income assets continue to flag in real terms, look for crypto to become even more popular.

If you want to learn more about Nexo, or how the platform offers its clients double digit annual returns – just click right here.

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K-Pop Entertainment Giants Embrace NFTs

Non-fungible tokens have captured the attention of many leading K-pop entertainment giants. A series of new projects that use the technology of NFTs or the metaverse are coming from South Korean media conglomerates.

Entertainment Giants Join The NFT Race

The first half of 2021 saw a huge surge in NFTs across a number of industries, including arts and entertainment. The trend has led to the emergence of new cryptocurrencies and non-financial tokens (NFTs) in the South Korean music industry.

On October 4, HYBE, the management corporation of various well-known groups such as BTS, Seventeen, and TXT, announced a partnership with Dunamu, Korea’s largest leading fintech company, to integrate NFT technology into the company’s artists’ products.

Not only K-pop idols, but also popular artists such as Justin Bieber, Ariana Grande, and others, have joined the campaign.

YG Entertainment (the management company behind Black Pink, Big Bang, and 2NE1) is reportedly investing in the future NFT business project, which is backed by a number of corporations and entertainment companies.

More Hot Projects are Coming

Following the two entertainment businesses’ participation, SM Entertainment announced the distribution of content related to the SM Cultural Universe Metaverse (SMCU) in a strategic relationship with the blockchain platform Solana.

These entertainment behemoths are not the first to declare the implementation of NFT into their content distribution strategy.

JYP Entertainment, the management organization for TWICE, Stray Kids, and ITZY, previously stated in July that they would work with Dunamu. At the same time, several other entertainment corporations revealed ambitions to use innovative digital technologies in their businesses.

A Growing Market

It is hard to beat NFTs at the moment. Massive global enterprises and businesses are getting on board. Korean entertainment is no exception.

NFTs are used to sell transferrable digital products like artwork depending on product ownership. The NFT data is encrypted on the blockchain

The unique property in an NFT product makes them appealing. Consumers can buy NFTs of artwork to support their favorite artists.

By purchasing NFTs, customers take ownership differently from the product they purchase. On the other hand, they do not receive any physical objects after purchasing the NFT.

Their only proof of ownership is a transaction record maintained in the blockchain

Many entertainment companies are planning to promote NFTs, aimed at enabling interaction between fans and idols. This type of NFT could be found in photos or posters, items that all K-pop fans want to have.

Entertainment companies and investors consider NFTs as a key factor in attracting fans, regardless of their current limitations.

Fan-owned NFT photocards may have similar images and sound to the original, but instead of simply owning one copy, fans assume complete ownership of the NFT material they purchase – in this case, a photocard – and each of these photocards is a one-of-a-kind product.

Many entertainment firms and investors are entering the NFT, metaverse, and cryptocurrency markets.

According to the South China Morning Post, it’s impossible to prove that NFTs can deliver value commensurate with the massive investment that the space has seen this year.

However, in reaction to new products, the K-pop fan community has been supportive.

The replacement of physical items with NFTs doesn’t match fans’ preferences. The community has expressed dissatisfaction, stressing that they prefer physical items, rather than digital ones.

It’s not the only obstacle that companies may confront when integrating NFT into their operations. Another major concern is the environmental impact of blockchain technology, currently a source of heated discussion.

Blockchain requires a lot of energy to track and store NFT transaction information. This technology has the potential to substantially impact the environment, which isn’t attractive to everyone.

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Discord To Integrate NFTs? NFT Marketplace May be Expanding

Discord has given some hints of NFT integration since the beginning of the NFT craze. A Discord survey from August went viral and stirred up the social networks.

The survey focuses on getting users’ insights in NFTs.

Although there is no statement on NFT integration of Discord, people started talking about whether Discord would enter the lucrative space like other tech giants.

Initial Hints From Discord

Among other questions about participants’ knowledge of NFT and Web 3, Discord’s survey also included open-ended questions about their favorite cryptocurrencies and asked them to point out which crypto-related issues Discord could help to solve.

According to a Discord representative, the objective of this survey is merely to discover and to get to know users’ engagement in the crypto community.

“We’re always exploring and hacking away at things we think will improve Discord for all the communities we serve,” a Discord spokesperson told The Verge. “This includes research that helps us learn about what people want,” the spokesperson shared with The Verge.

So a Discord server integrated with NFT-related technology is still far from reality. But it doesn’t mean the digital distribution platform won’t get its hands on the NFT market.

In response to Discord’s action talks around its intention, members, however, have different opinions.

The NFT ecosystem’s ongoing problems including carbon emissions, money laundering, and uncertainties are the main reasons that push the gaming community away from Discord’s NFT implementation.

Some users showed negative views on the update and warned to cancel their Nitro subscription. One user even posted screenshots showing their Nitro unsubscription.

Furthermore, the backlash also resulted in many users terminating subscriptions to Discord Nitro, the platform’s premium service that costs $4.99 per month and $49.99 for a year.

Even if Discord hasn’t yet established its own NFT, it’s probable that the platform is planning or at the very least considering alternative blockchain-based applications in the future.

After reading a Substack blog post highlighting Discord’s potential as an NFT or Web3 platform, Discord CEO Jason Citron responded by tweeting an image of a Discord crypto wallet identity that was unknown at the time.

NFTs: Dusk To Dawn

In a conference call on Tuesday, Brian Amstrong shared his view about the digital asset’s future, the Coinbase CEO stated that the NFT marketplace has the potential to grow much larger than the bitcoin sector.

Coinbase is one of the most notable names that has joined the NFT race with its own marketplace – Coinbase NFT. The platform will compete with OpenSea and Rarible, as well as other exchanges that are investing in NFTs like Binance, Gemini and FTX.

Back in the early days of NFT, the most prevalent type of operation was NFT games based on a fairly simple mechanism.

Initially, they primarily have Idle Game gameplay, in which the characters battle according to pre-calculated mechanisms and algorithms with random variables.

Even the NFT game genres were still very limited at the time, while the graphics were not particularly impressive and frequently made little faults that were enough to cause barriers among players.

However, as technology in general and the blockchain platform in particular advance, things are rapidly changing. NFTs have evolved and are now comparable to regular games, having expanded into a number of different industries like music, art, and film.

Following the rise of NFTs in the crypto world, the number of NFT marketplaces has expanded in recent months. Most developers should now concentrate on building functionality on NFT minting systems.

Platforms such as Ethereum, Flow, Tezos, NEAR, and others now provide an interface for creators to validate rarity, auction mechanism, and royalty rates from secondary purchases. NFT supplies are increasing as a result of simple-to-use revolutionary tools.

In other words, rather than focusing on better, easier ways to make NFTs, people are exploring innovative ways to broaden the use of NFTs. The rise of NFTs transformed the digitization era and, by extension, the world we live in.

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Orbs Introduces its Ground-Breaking Layer 3 Architecture

Orbs is once again disrupting the blockchain space with an entirely new proposition. That is to augment the architecture of a multi chain interoperable infrastructure, which works in parallel with all the major Layer 1 and Layer 2 chains, like BSC, Ethereum, Solana, and Avalanche, and the apps that sit on them.

Orbs, is an open and permissionless public blockchain infrastructure built for mass usage applications, has unveiled a significant development for the future of the blockchain, its Layer 3 style chain.

With all the interest in DeFi and other applications, there is a need for constant innovation. Orbs is meeting this demand with new tools, and open ideas that will help drive further innovation.

New Layer 3 From Orbs!

The Orbs chain can be considered a Layer 3 chain, another layer on top of L1 and L2 Layers, whereby it draws from the security of the Layer 1 chains, the scalability layer of the L2, and utilizes its own smart contract deployment Layer to enhance the sophistication of the functionality of EVM compatible smart contracts.

A simple way to understand this framework is by looking at an example of a DeFi app that offers users smart vaults, e.g., Yearn Finance.

The user deposits their funds into the vaults and the algorithm manages the money, in the same way as a money manager would, by opening and closing positions.

However, using smart contracts on Layer 2 chains, the actual strategies employed tend to be quite simplistic, in the way that one contract is deployed after another.

This means that once an activity is conducted, then a new trade or action occurs. Now, with these new tools from Orbs, brand new strategies can be developed.

Using the case of Layer 3 smart contracts with Orbs extends a new layer of complex sophistication to the strategies, whereby numerous transactions can be conducted simultaneously.

For instance, it is possible to move money across pools and vaults depending on which is offering optimal returns, and at the same time taking advantage of loans, to integrate leveraged style trading for greater reward potential. Thus creating a more sophisticated strategy that could lead to greater yields.

Orbs Co-Founder Tal Kol said,

“This is an entirely new building block for the blockchain, which builds an extra layer of sophistication into the activity conducted on the chain. Its use extends far beyond the realm of DeFi, although it is massively important here too. We take our decentralized protocol, which is open and permissionless and make it available for developers using smart contracts in the languages they already use now. Using this approach enhances the complexity of the on-chain actions apps can conduct.”

The Open DeFi Notifications Protocol is the very first Orbs project that uses Orbs’ Layer 3 functionality. An open protocol that gives users decentralized mobile notifications when on-chain events occur.

While built on the Layer 3, it reads activity on both the Layer 1 and Layer 2 chains, and gives users access to more advanced strategies. Traders will like the options they have, and this innovation should lead to more options in the marketplace.

Orbs is Growing Quickly

Orbs is a public blockchain infrastructure designed for mass usage applications and close integration with EVM-based L1’s and L2’s such as Ethereum, Binance Smart Chain (BSC), Polygon, Solana and Avalanche.

The Orbs protocol is decentralized,executed by a public network of permissionless validators using Proof-of-Stake (PoS) consensus and is powered by the ORBS token.

By using a PoS system, Orbs is putting itself in a position to lead the next round of blockchain innovation. Unlike PoW systems PoS is much faster, and will be able to scale up and meet the demand of the DeFi world.

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First-Ever Open Sourced Mixnet Explorer & Desktop Wallet: Released by NYM

Created by Nym, the renowned Privacy-focused platform, the desktop wallet for mixnodes was officially launched two days ago.

The Nym platform, best known for their vast experience in user’s privacy safeguarding, also proudly announced that its mixnet explorer is from now on an ‘open source’ licencing-policy application.

For those users running networked nodes within the Nym decentralized privacy ecosystem, the newly launched Nym Desktop Wallet becomes to you the logical gateway to asset capitalization.

This wallet is not intended to become an all-purpose crypto wallet, since it only supports Nym’s platform’s native crypto currency, the NYM token.

NYM is Creating Great Tools

Any Nym Desktop Wallet user can now run mixnodes together with the classic hold, bond, and delegate testnet earning additional income in the form of NYM tokens.

Moreover, very soon, the Nym Desktop Wallet users will be provided with bandwidth credentials, in order to redirect their internet traffic into the very first Mixnet Explorer open sourced wallet.

Harry Halpin, the CEO at Nym, commented,

“This wallet shows we at Nym are serious about supporting people who contribute their computational power to mixing. While this wallet only supports the native NYM token, we are planning user-facing wallets that support Bitcoin and Liquid.”

The Nym platform developers announced that in addition to the open sourced desktop wallet, their team was also releasing the world’s first open sourced mixnet explorer.

By reaching this remarkable milestone, the mixnet explorer, the Nym developers are realizing their mission of granting security and transparency on the mixnet while facilitating delegation.

The way the Nyum mixnet functions is by blurring or obscuring the remaining trace of any metadata left behind by each network operation. This method makes it impossible for anyone to control network traffic and trace communications.

Being the mixnet explorer now a completely open sourced development, we believe it will help Nym’s platform to strengthen their mantra “privacy for end users, transparency for the infrastructure.”

The Nym ecosystem is mostly benefited and strengthened by the mixnet explorer open source policy, it allows security and performance audits on individual nodes and the overall infrastructure.

Why is a Platform like Nym so Necessary?

Programming engineers and tech researchers, with expertise in user’s privacy, founded the Nym platform in 2018.

The Nym platform is basically the infrastructure that guarantees fully-protected privacy to sensitive personal data.

In other words the platform is an incentivized, permissionless, open source and decentralized infrastructure that blocks metadata surveillance at a mixnet (network level) and immediately eliminates authentication data and credentials (payments) monitoring.

A solution like Nym is absolutely necessary because of the mainstream internet protocols continually leaking sensitive user’s data that is being exploited without the user’s knowledge or consent. Nym’s objective is to prevent this data leakage at the different mixnets by protecting every packet’s metadata.

Main Nym’s Components

Nym Mixnet: this multi-purpose mixnet prevents traffic analysis by any adversary capable of watching the entire network.

Nym Token (NYM): this proprietary Nym’s token was created to incentivize privacy and promotes the mixnet’s resiliency, sustainability and decentralization.

Nym Credentials: Any arbitrary ‘key:value’ pair is anonymized so that users can discretionary reveal partial or complete data in case of necessary compliance and/or authentication.

What is the Difference Between Nym and the VPNs?

The widely known and popular privacy solution is the VPN, providing a network-level protection through encryption between the user and the VPN service provider.

But even if a VPN solution is correctly configured, it doesn’t offer a 100% private and censorship-free network. Ultimately the VPN service provider has access to the user’s online activity, so it is a matter of trust between a VPN provider and a user.

On the other hand, the Nym mixnet provides strong network-level anonymity or privacy thanks to its overlayed network despite many powerful systems that monitor the entire global network.

Being Mixnet a decentralized platform, there is no need for third parties to trust on, like a VPN provider. Actually, it is Nym who provides network-level privacy to VPN companies, with the best service latency-free through incentives.

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