With the appearance of Metaverse, GameFi projects’ popularity is increasingly growing in the blockchain space whereas Web 2.0 traditional tools seem to be obsolete and not adapted to the Web 3.0 conceptual step up. This instrumental gap is filled by a unique partnership between Secretum and Edensol. Security, transparency, decentralization and immediacy as fundamental values of Web 3.0 meet safety and stability, menaced in other gameFi projects using traditional messengers.
What is Edensol?
Edensol is a revolutionary gaming Metaverse that combines fantasy action with the use of groundbreaking NFTs on the Solana blockchain. It’s play-to-earn gaming, easy to understand, exciting, and fast-paced. The main characters of the game are heroes, warriors, rangers, mages and pets. The value of an NFT character depends on its level of personalization (special cosmetic characteristics, number of types of pets owned etc.), as well as the frequency and success of the battles.
To sell and purchase NFTs players can use NSOL tokens and go trade on the Edensol marketplace. Edensol includes various types of NFTs, among which are heroes, whose value depends on its level of personalization and strength, gear (swords, axes, traps, fireballs, magic spells and battle outfits), eggs and pets.
The prices of these NFTs vary depending on the value of their superpowers, their looks, their not-yet-unlocked potential, and the rarity of their species. Some ultra-rare gear NFT items with completely unique artistic features and effects will be also tradable on secondary marketplaces in the future.
Significant advantages of financial gaming with NFTs in Edensol
A fusion of virtual gaming with NFTs is a confluence of crypto, gaming and money. Gamification of financial systems is disrupting the traditional gaming industry as we know it. It is the next step for the cryptomarket and it has various strengths and advantages. The total value of NFTs rocketing to a new record high of $43 billion in October 2021.
In contrast to traditional gaming, where users play to win, Edensol adopts a play-to-earn model and permits the revenue capacity of NFT, which is proven to be significant.
Edensol takes advantage of the popularity of video games, combined with unique features of cryptocurrencies
Edensol provides verifiable and constant ownership for the players. All data is stored on the decentralized public Solana blockchain, which keeps track of what everyone owns. This means that players, not the game developers, own all of the in-game assets, even if a server is turned off or the gaming company suffers technical downtime. Edensol allows players to maintain ownership of all their in-game items and currency, thanks to tokenization.
The game becomes reality. Due to blockchain technology, Edensol adds real-world value to in-game purchases. Interior tokens and items can be traded for cryptocurrencies and, ultimately, actual cash. When a user creates an in-game account, Edensol automatically creates and links a crypto wallet to that account, which is used to store NFTs, in addition to NSOL and any other cryptocurrency. At any time, players can transfer all their in-game NFTs to their crypto wallets, and then sell them on decentralized marketplaces
These aspects make crypto gaming with Edensol a source of real income for players. It could be a passive income or even a full-time one.
Although blockchain-based crypto gaming is still vulnerable to attacks. Players can lose all of their assets in a hacking incident. For example, a Discord server by NFT marketplace Fractal got hacked, swindling members over $150,000 in crypto assets. And here comes Secretum as a perfect game-changer for crypto trading.
What is Secretum?
Secretum is unique, fully decentralized, end-to-end encrypted and secure trading on the Solana Blockchain. The major innovation of Secretum is enabling the trading of all crypto assets (fungible and NFTs) directly between users, via a hybrid messaging and trading function.
Secretum possesses a completely anonymous and secure sign-up process with only a user’s crypto wallet address. It is DeFi, metaverse compatible, OTC, P2P trading dApp with access to smart public channels. All data is safely stored on the independent and verified nodes in the Secretum network, with no central point of failure.
Secretum is just like Edensol based on the Solana blockchain. So it is fast and cheap, with low fees and instant trades due to Solana’s capability of 50,000 transactions per second and an average cost per transaction of only $0.00025.
As gameFi projects and Edensol, in particular, are sensitive to cyber-attacks Secretum is a perfect detail to solve this problem and ensure the safety of users and their assets from scammers. Secretum provides a safe connection in the web 3.0 world and keeps players’ possessions secure and private.
Edensol + Secretum: complementary partnership
Thus, Edensol will use Secretum dApp to ensure safe and end-to-end communications for users, whereas Edensol will be a perfect addition to the Secretum community as a fantasy metaverse and an actual play-to-earn income possibility, combining fun-packed action with P2E features and the use of collectible NFTs on the Solana blockchain. Edensol community members will benefit from OTC, P2P trading functionality in the Secretum dApp. They will be able to trade their $NSOL tokens and NFT gaming assets without intermediaries.
This highly qualitative partnership allows gamers to avoid scammers. All thanks to verification of $NSOL tokens possession, safety and security of Secretum, a brand new Web 3.0 era messenger and trading solution. Being a solution to most of the insecurity problems of DEXs, Secretum perfectly complements the Solana metaverse and Edensol gameFi project.
Development across the cryptocurrency ecosystem continues to move forward despite the day-to-day whipsaw price movements and this progress is furthering the public’s awareness of Web3 and the value of blockchain technology.
One project that has been climbing the charts amid a marketing push to develop better brand recognition is Fetch.ai, a protocol focused on building a token-based decentralized machine learning network capable of supporting the smart infrastructure being built around the digital economy.
Data from Cointelegraph Markets Pro and TradingView shows that the price of FET has climbed 43.13% over the past two days, rallying from a low of $0.322 on March 21 to an intraday high at $0.46 on March 23 as its 24-hour trading volume underwent a five-fold increase.
FET/USDT 4-hour chart. Source: TradingView
Three reasons for the building interest in Fetch.ai are the launch of a $150 million development fund, plans to further integrate the project into the Cosmos ecosystem and the recent launch of a large-scale marketing campaign.
Fetch.ai launches a $150 million development fund
The biggest news to come out of the Fetch ecosystem was the March 22 launch of a $150 million ecosystem development fund, in conjunction with MEXC Global, Huobi and Bybit, that is aimed at attracting developers and established projects to the Fetch.ai ecosystem.
Ecosystem development funds have become a popular theme across the cryptocurrency community as projects have found them to be a useful way of attracting new projects and users to their protocols in a field that is becoming increasingly crowded and difficult in which to gain traction.
Deeper integration with Cosmos
A second major development bridging increased attention to Fetch.ai has been its ongoing integration with the Cosmos ecosystem and Interblockchain Communication Protocol.
A new governance proposal is live!
This proposal seeks to upgrade the @Fetch_ai chain to Cosmos SDK v0.45 & IBC v2.2.0. With this, we can be enabled on Osmosis DEX/allow IBC transfers between us and other chains like @osmosiszone@cosmos
Fetch officially joined the list of projects that were launching within the interoperability-focused Cosmos ecosystem in February and it is currently in the process of upgrading the Fetch.ai chain to allow IBC transfers between supported networks.
Cosmos has been one of the most active and growing ecosystems over the past six months despite the weakness in the wider cryptocurrency market, which has the potential to benefit Fetch by bringing increased token liquidity and access to a greater pool of investors.
Related: Fetch.ai launches NFT platform for AI-generated art
A renewed marketing push
The third factor helping to increase the awareness of Fetch has been an increased focus on marketing the project to the wider public, including a partnership with Formula 1 driver Alex Albon.
On top of this Formula 1 sponsorship, marketing for Fetch has also begun to appear in highly visible areas, including digital billboards in Times Square, New York, and subway and bus terminal advertisements.
Fetch.ai has also begun to recruit crypto influencers to help increase awareness and it has benefited from being listed on the Voyager app on March 18.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FET on March 21, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS™ Score (green) vs. FET price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for FET hit a high of 80 on March 21, around one hour before the price increased 42.56% over the next two days.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Aparna Chennapragada, Chief Product Officer at Robinhood, made some statements about the interest of the trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term towards the non-fungible tokens (NFTs) industry, saying that they’re ‘fascinated.’
In fact, Chennapragada stated that there is ‘a lot of potential’ in using NFTs nowadays that Robinhood spotted. “We absolutely think about NFTs. I have been fascinated by them, and I think that the crypto team is excited. We are always looking at what makes sense here, in terms of products to offer through Robinhood,” she commented in an interview with The Verge.
Robinhood’s CPO, in particular, talked about what Axie has been doing in the NFT industry with the in-game sphere. “The reason I ask about NFTs, in particular, is that when you think about products on smartphones that allow you to transact — where you push a button and spend some money, and then digital goods move around — Robinhood is actually very unique. It does not pay a 30% commission to either of the smartphone platforms, even if you are buying Bitcoin
Bitcoin
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities.
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities. Read this Term, which is a digital good. Because it’s money. Which is a very philosophical, like you’re dancing on the head of a pin there, that Apple has not said, ‘I want 30%’,” Chennapragada noted.
Moreover, she highlighted that NFTs could be an end in itself in some cases, making them a ‘really fascinating opportunity.’ However, she didn’t specify whether the company plans to launch or not any NFT offerings in the future, but she pointed out the following: “I think, as a team, and a company, we are looking at the space and saying, ‘How can we best participate? What are the customer problems that we can solve?’”
Settlement with Vermont Regulators
Recently, Robinhood reached an agreement to settle $640,000 with Vermont’s financial regulator, DFR, over the platform’s outages and account supervision issues.
Aparna Chennapragada, Chief Product Officer at Robinhood, made some statements about the interest of the trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term towards the non-fungible tokens (NFTs) industry, saying that they’re ‘fascinated.’
In fact, Chennapragada stated that there is ‘a lot of potential’ in using NFTs nowadays that Robinhood spotted. “We absolutely think about NFTs. I have been fascinated by them, and I think that the crypto team is excited. We are always looking at what makes sense here, in terms of products to offer through Robinhood,” she commented in an interview with The Verge.
Robinhood’s CPO, in particular, talked about what Axie has been doing in the NFT industry with the in-game sphere. “The reason I ask about NFTs, in particular, is that when you think about products on smartphones that allow you to transact — where you push a button and spend some money, and then digital goods move around — Robinhood is actually very unique. It does not pay a 30% commission to either of the smartphone platforms, even if you are buying Bitcoin
Bitcoin
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities.
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities. Read this Term, which is a digital good. Because it’s money. Which is a very philosophical, like you’re dancing on the head of a pin there, that Apple has not said, ‘I want 30%’,” Chennapragada noted.
Moreover, she highlighted that NFTs could be an end in itself in some cases, making them a ‘really fascinating opportunity.’ However, she didn’t specify whether the company plans to launch or not any NFT offerings in the future, but she pointed out the following: “I think, as a team, and a company, we are looking at the space and saying, ‘How can we best participate? What are the customer problems that we can solve?’”
Settlement with Vermont Regulators
Recently, Robinhood reached an agreement to settle $640,000 with Vermont’s financial regulator, DFR, over the platform’s outages and account supervision issues.
Coinbase Cloud provides web3 APIs, services, and infrastructure to power the next generation of software builders. As part of our vision to empower developers building the future of web3, we are launching a suite of blockchain infrastructure solutions and services for the growing Avalanche ecosystem.
Avalanche is a high-speed smart contract platform with near-instant finality and EVM compatibility. Developers can deploy their Ethereum applications on Avalanche’s C-Chain or deploy custom-built blockchains as a subnet. Avalanche has seen accelerated growth in 2021 since its launch in 2020, reaching new highs in active addresses, transactions, and total value locked. A number of high-profile projects such as Curve, Aave, and DeFi Kingdoms expanded into Avalanche alongside native projects like Trader Joe, BENQI, and Crabada.
Coinbase Cloud is committed to supporting the Avalanche ecosystem, making it easier and faster for developers to build innovative applications and unlock new use cases.
Secure, reliable staking infrastructure
Today, Coinbase Cloud has a public validator that lets delegators easily and securely stake their AVAX.
Validators support the continued growth and the security of the network by verifying transactions, participating in consensus, and adding blocks. By staking tokens, delegators can contribute to validators that do the important work of validating the chain.
To get started, delegators will need a minimum of 25 AVAX to stake, plus funds to cover the gas fees. Coinbase Cloud offers a step-by-step guide to delegating AVAX tokens.
Those who want to run their own dedicated validators on Avalanche will be able to do so using our Participate product. Coinbase Cloud’s staking infrastructure is built to the highest security standards and offers 99% uptime guarantee, making it easy for anyone to spin up a validator in just a few steps — no coding required.
Empowering developers to build the next big Avalanche project
Coinbase Wallet SDK empowers developers to expand their app’s reach to millions of Coinbase users, providing easy access to the Avalanche ecosystem via Coinbase Wallet. Coinbase Wallet offers users built-in fiat onramps to buy AVAX from Coinbase, providing users an easy start with Avalanche.
Coinbase Wallet offers first-class support for Avalanche C-Chain and the Fuji testnet, as well as EVM-compatible subnets, ensuring that any EVM-compatible application runs seamlessly and reliably through Coinbase Wallet. The integration can be completed in minutes, with only a few lines of code. Developers can view Coinbase Wallet SDK documentation on the Coinbase Cloud website.
In addition, we are building our Query & Transact infrastructure to empower developers to easily access data from the Avalanche blockchain. Having an easy way to access data and submit transactions is the most fundamental step to building dapps such as wallets, exchanges, data aggregators, and blockchain analytics solutions. With Query & Transact, developers have reliable read/write access to data with a 99.9% uptime guarantee.
Once available, developers can also easily customize their Query & Transact read/write infrastructure via the Coinbase Cloud web interface to meet their needs. Using our web interface, developers can configure who can access the node infrastructure, and distribute their nodes across four geographic regions and two cloud providers to serve traffic globally with low latencies.
With Query & Transact and the Wallet SDK, Avalanche developers have a comprehensive suite of solutions to build and grow their crypto products.
“We couldn’t be more excited to work with the Avalanche team to empower builders and participants. Avalanche is contributing to building a more vibrant and accessible Web3 economy, and we are looking forward to working with them to help the network grow and scale.” — Joe Lallouz, head of product at Coinbase Cloud
“We are thrilled to be working with Coinbase Cloud. The Coinbase Cloud team offers the technical expertise, security best practices, and deep understanding of protocols that will make them one of the important contributors to Avalanche. We are excited for what’s to come and to build the Web3 future with Coinbase Cloud.” — Jay Kurahashi-Sofue, VP of Marketing at Ava Labs
Connect with Coinbase Cloud at the Avalanche Summit
Builders and participants can connect with Coinbase Cloud during the Avalanche Summit. Meet our team at the Coinbase Cloud booth at the Eco-Dome. In addition, we are hosting workshops for builders interested in growing the adoption of their product via the Wallet SDK. Catch us on March 26, 6–7 pm GMT+1 for a hands-on session (see the agenda for more detail).
To discover more about Coinbase Cloud solutions and services, visit: https://www.coinbase.com/cloud
Decentralized Storage Provider StorX Network has joined hands with NFT Marketplace XDSea on a partnership set to eliminate IPFS based centralized storage. Under the terms of the collaboration, it follows that XDSea will leverage StorX decentralized storage network as a store for their art, images, and documents.
We are thrilled to announce the Partnership between @StorXNetwork and @XDSeaNFT. XDSea will use Storx decentralized storage network to store art, images, and documents. This will remove file storage centralized using ipfs.#StorX#SRX#partnership https://t.co/zfM7asYJaz
Standing as the first-ever, and largest P2P decentralized marketplace in the world to provide an avenue for selling and buying NFTs, XDSea is built atop the XDC Network and runs on the XRC blockchain. The collaboration and expected offerings are a testament to the numerous promises made by DIMO and XinFin who hosted the official debut of the XDSea network. From being the first NFT marketplace to join the XRC blockchain, and now offering safer and more reliable storage for digital collectibles, the possibilities remain endless for XDSea.
Already XDSea is reputed for its game-changing role offering very affordable gas fees in the market today thanks to its association with XinFin. Beyond that, it also offers the lowest transaction fees in the market today. By meeting users at the junction linking gas fees, transaction fees and now security, XDC is a game-changer in an extremely agile and dynamic industry.
Competitive features of StorX Network’s Decentralized Cloud
StorX Network has revolutionized data storage, providing a blockchain-based decentralized cloud storage solution. This solution evades tracking, censorship, blocking, or the presence of any downtime whatsoever. With these offerings, StorX leads netizens to a safer and more secure internet version where decentralization is the theme. XDSea is the first among many who are poised to leverage this future.
With this partnership, XDSea intends to leverage StorX decentralized storage for the safe storage of NFTs in the range of art, images and documents; an action that will eliminate the centralization element of storing files characteristic of IPFS.
IPFS is basically the hard drive of blockchain with a specific approach for data storage. IPFS stores data in such a way that when data is added to the IPFS network, the network splits it into groups of 256Kb capacities. Each group is identifiable using a specific hash and is thereafter spread across multiple nodes on the hash-linked networks.
StorX is safer than IPFS
While both use transport encryption, StorX offers more security thanks to its content-encryption property. While user data is safer when being sent between individual IPFS nodes, that data is accessible to anyone who wishes to download and view it provided they have the CID. StorX enhances security by providing the content-encryption property.
Moreover, the XDSea will benefit from, among other privileges offered by StorX, the assurance of offering users a safer and more reliable storage network for their digital collectibles on the cloud. With this collaboration, XDSea, therefore, expects to deliver a safer and more unregulated storage experience for its esteemed user community so that they can design and develop their valuable NFTs on the open-source NFT Marketplace, XDSea.
Notably, the partnership makes for a notable milestone for StorX, positioning them as the first storage provider to collaborate with XDC NFT marketplace for purposes of solving their storage needs. The mechanics hold that every file that a user uploads on StorX is split into multiple parts before encryption into several fragments and finally stored within independent storage nodes. The nodes are run by different operators located in various parts of the world.
The hallmark of StorX network’s offering centers on the fact that the system is designed as a group of autonomous storage networks. This means that there is no one operator who holds total access to the data belonging to a single user. With different parts held by different operators, the amount of power or influence held by a single holder is therefore significantly reduced to an almost invaluable minimum, hence enhanced user security.
#XDCNFT are coming to the #XDCNetwork. It is still early days but new artists, fans and innovators are rapidly joining the #XDC community. Buckle up, this space is about to explode! pic.twitter.com/YjvilI4Nox
Republican Congressman Pete Sessions from Texas has come out with a bold statement about the impact Bitcoin mining will have not just on his state but on the United States as a whole.
The Texan representative, a proponent of Bitcoin (BTC) mining, tweeted on March 22 that “Bitcoin Mining will play a critical role in rebuilding energy independence in the USA.” His statement drew a mixed bag of reactions from both supporters and critics. Wyoming’s Republican Senator Cynthia Lummis was among the supporters who responded to his tweet with a succinct “Indeed.”
#Bitcoin Mining will play a critical role in rebuilding energy independence in the USA
Both lawmakers have been vocal advocates for policies that support innovation in the crypto industry, not just for miners. As U.S. consumers suffer from a spike in gas prices due to global tensions, the debate has ramped up about how the country can reduce its dependence on external energy sources.
Sessions’ view highlights a growing compilation of research that suggests the innovations from the BTC mining industry could have global applications in industrial energy consumption and production.
As Texas has come to contribute over 14% of the country’s total Bitcoin hash rate, the stability of the state’s electrical grid and the environmental impact of miners have come to the forefront of growing criticism, as it has in other mining hubs around the world.
Despite those concerns, various researchers have suggested that the growing mining market in Texas could reduce its net environmental impact and energy demands on the public energy grid.
A March 2021 research paper detailed how flexible data centers could promote renewable energy resources. A flexible data center generates its own energy either from a small dedicated renewable power plant or draws power from the grid depending on the grid’s current state.
According to the U.S. Energy Information Administration (EIA), Texas is already the country’s leading wind power generator. Therefore, miners may already have access to renewable energy when needed. Promoting miners to utilize a flexible data center model could stimulate greater growth in renewable energy accessibility and reliability. The paper stated:
“Hence, the (integrated energy system) may contribute to grid stability by locally using generated electricity instead of feeding it into the grid.”
Software solutions firm Lancium published similar research last October. It concluded that as the mining industry grows and more operations implement a flexible data center model, it will likely prevent energy grid shortages while promoting the growth of renewable energy resources. Researcher Joshua D. Rhodes, Ph.D. said in the paper.
“As grids move towards incorporating higher levels of intermittent resources, such as wind and solar, flexible demand will play an ever more important role in keeping the electrical grid system stable.”
Related: New York Bitcoin mining moratorium bill garners more support
Texas is a significant hub of Bitcoin mining in the United States as Hive Blockchain, Riot Blockchain, Argo Blockchain, and others have operations in the Lone Star State.
According to the unconfirmed sources, Honduras may officially adopt Bitcoin by giving it a legal tender status. Honduras President, Xiomara Castro may make the announcement within several hours.
Honduras may follow the steps of El Salvador in adopting Bitcoin
Bitcoin
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities.
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities. Read this Term. The impact of such news may have on BTCUSD is unclear at this stage. The focus of the crypto markets is on the upcoming regulations, which includes NFTs and possibly the metaverse.
India 30% tax on cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term profits will commence in April. This is on top of the 1% tax deduction at source (TDS). India will tax 1% TDS on all transactions in cryptocurrencies.
Bitcoin is still looking for a direction, BTCUSD weekly chart will be shortly presented.
How will Honduras Affect Bitcoin?
In August 2021 Honduras opened the first Bitcoin ATM in the the capital of Tegucigalpa by Honduran firm TGU Consulting Group. The ATM, nicknamed by the locals as ‘la bitcoinera’ allowed to purchase ETH and BTC using the local currency.
When El Salvador only considered adopting Bitcoin a positive reaction was seen in the markets. By paying attention to BTCUSD a tight price range is noted.
source: btcusd weekly chart, tradingview
The war between Russia and Ukraine is also weighing on BTC. Based on current market conditions, Honduras intentions to provide Bitcoin a legal tender status may not have a significant impact on market price.
However, in an event other countries announce this week they are may follow suit, a more substantial reaction may take place. A break above $45,535 may be required based on the weekly chart.
source: btcusd 60min chart, tradingview
BTCUSD hourly chart shows the price is ‘compressed’ between the support and resistance levels. As an intraday breakout materializes, BTC may choose its hourly trend.
A bearish breakout (below the blue line) may drive significantly lower than a bullish breakout (above the purple line).
According to the unconfirmed sources, Honduras may officially adopt Bitcoin by giving it a legal tender status. Honduras President, Xiomara Castro may make the announcement within several hours.
Honduras may follow the steps of El Salvador in adopting Bitcoin
Bitcoin
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities.
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities. Read this Term. The impact of such news may have on BTCUSD is unclear at this stage. The focus of the crypto markets is on the upcoming regulations, which includes NFTs and possibly the metaverse.
India 30% tax on cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities. Read this Term profits will commence in April. This is on top of the 1% tax deduction at source (TDS). India will tax 1% TDS on all transactions in cryptocurrencies.
Bitcoin is still looking for a direction, BTCUSD weekly chart will be shortly presented.
How will Honduras Affect Bitcoin?
In August 2021 Honduras opened the first Bitcoin ATM in the the capital of Tegucigalpa by Honduran firm TGU Consulting Group. The ATM, nicknamed by the locals as ‘la bitcoinera’ allowed to purchase ETH and BTC using the local currency.
When El Salvador only considered adopting Bitcoin a positive reaction was seen in the markets. By paying attention to BTCUSD a tight price range is noted.
source: btcusd weekly chart, tradingview
The war between Russia and Ukraine is also weighing on BTC. Based on current market conditions, Honduras intentions to provide Bitcoin a legal tender status may not have a significant impact on market price.
However, in an event other countries announce this week they are may follow suit, a more substantial reaction may take place. A break above $45,535 may be required based on the weekly chart.
source: btcusd 60min chart, tradingview
BTCUSD hourly chart shows the price is ‘compressed’ between the support and resistance levels. As an intraday breakout materializes, BTC may choose its hourly trend.
A bearish breakout (below the blue line) may drive significantly lower than a bullish breakout (above the purple line).
Bitcoin (BTC) reached an all-time high of $68,788 per coin on November 10, 2021.
Since then, the world’s most sought-after cryptocurrency has experienced extraordinary volatility, and the market has appeared reactive and fragile, with the Fear & Greed Index indicating a high level of doubt and uncertainty.
Since January 5, the price of BTC has fluctuated between $35,000 and $45,000, a relatively narrow range considering the currency’s track record of fluctuation.
As a result, this could be the start of a long-awaited period of stabilization for the market’s top digital asset.
Bitcoin Yet To Regain Previous High
The flagship cryptocurrency has yet to reclaim its 2022 high of $47,800, which it achieved on January 1 and 2 — approximately three weeks before plunging to $33,183.
While Bitcoin has flirted with the $40,000 mark on several occasions this year, those growth spurts have yet to prove viable.
However, it has rallied once more this week. According to CoinMarketCap, Bitcoin gained approximately 6.65% in the last seven days and was trading at $41,770 at the time of this writing, surpassing the $40,000 mark on Friday. Other coins have also increased in value during the last few days.
Pullback To Support Levels Seen
Bitcoin’s price is edging closer to its upward limit following an almost week-long slow strut-up. As a result of the presence of many obstacles, a pullback to stable support levels for BTC is anticipated.
Bitcoin’s price is encountering numerous resistance points as it approaches the $45,000 local high. A retest of the bearish breaker zone between $42,866 and $43,754 is expected to result in a downturn to $38,887 and below.
BTC total market cap at $792.68 billion on the daily chart | Source: TradingView.com
Related Article | Shiba Inu Exodus: 32,000 Holders Lose Interest In The ‘Dogecoin Killer’
Since January 22, the BTC price has reached three identical highs and four higher lows. These swing points can be combined to construct an ascending triangle using trend lines.
This technical structure forecasts a 20% increase, calculated by adding the distance between the initial swing high and low to the $44,417 breakout point.
Bitcoin Poised For Further Rally
Given the current geopolitical landscape, rising inflation, interest rate increases, and rising oil prices, many industry specialists are already speculating on the Bitcoin price by the end of the year, as many people want a buffer against inflation and a safe haven asset.
Bloomberg recently reported that despite a huge fall to usher in the year, Bitcoin is poised for additional price gain.
Ethereum Nears $3K
Meanwhile, Ethereum (ETH) gained ground on Friday following a wild week.
Ethereum has rallied up to 5% in the last 24 hours, closing in on $3,000 for the first time in two weeks.
Ether’s growth is partly a result of efforts toward the mainnet integration of the Ethereum blockchain and the Beacon Chain.
Related Article | Ethereum Sees Biggest Exchange Withdrawals This Year – A Bump In ETH Price In The Offing?
Featured image from Coingape, chart from TradingView.com
Content constitutes the essence of the internet and comes in many different forms that the current Web2 internet iteration supports — text, audio, video or a mix of all three. However, content is scarcely a free resource. It is content creators who are now becoming opinion leaders, influencers and the cornerstones of so many of the critical services businesses rely on, such as advertising, marketing and public relations management.
The need for content and its strive for independence — embodied by thousands of bloggers and indie performers — has spawned an immense online economy that trades talent and often rakes in sales volumes many a top-level artist would salivate to earn. This economy has been dubbed the creator economy: a financial framework that allows independent individuals to earn on their self-expression by feeding audiences the type of content they are willing to pay to consume.
A rising force
The creator economy is a tremendous force: a unique, online phenomenon that overstepped the $104-billion market size threshold at the end of 2021. Given the snowballing demand for new content on popular platforms, such as TikTok, that empower independent artists and performers, experts are hesitant to make forecasts about the potential market size of the creator economy in the near future.
The reason for the lack of tangible predictions is that the creator economy is an extremely young phenomenon that started with the COVID-19 pandemic. The lockdowns evoked a wave of talent among people confined indoors, resulting in a release of creativity that others sharing confinement were eager to consume as much-needed entertainment.
Related: The best is yet to come: What’s next for blockchain and the creator economy
Considering that micro-entrepreneur creators are closely related to influencer marketing, which spots around $13.8 billion in market size, it is possible to understand the prospects that further expansion of the phenomenon can yield. More importantly, experts believe the transition to a new technological medium will allow content creators to overwhelm markets and industries with new opportunities for product and service promotion.
Decentralizing talent
More than 50 million creators are driving their own economy of talent, attracting in excess of $800 million in venture capital. Such figures are but a shadow of what they can become later, as new venues are rapidly becoming available.
The development of blockchain technologies has resulted in a sweeping revolution across financial markets, empowering individuals instead of institutions and channeling ownership of data and funds to their holders. The qualities of the blockchain — immutability, full transparency and the trustless nature of operations — have permeated many industries, swooning the balance of business orientation from centralized corporate reliance to decentralization. This shift in the basic concepts that govern relations between participants to transactions, facilitated by smart contracts, has not gone unnoticed in the creator economy.
With the decentralized finance and GameFi sectors marshaling across their respective industries and detracting droves of users from conventional approaches to banking and gaming, it was only a matter of time before influencers and content creators decided to shift the paradigm in their operating environments. The content creation model has been altered forever with the incorporation of blockchain technologies that allow users to incentivize content creators, while creators can actually monetize their talent without having to share the proceeds with centralized, often-unfair hosting platforms.
Related: DAOs are the foundation of Web3, the creator economy and the future of work
Going metaverse
The development of metaverses — fully digital environments powered by the blockchain on Web3 and virtual reality — will herald a new era in content creation. Never before has talent had access to such an advanced set of tools to embellish even the bravest of ideas on the threshold of the real and digital worlds.
Metaverses allow creators to visualize in stunning graphical detail anything from an opera concert in the void of space against a backdrop of nebulae to a blog stream on a deserted island. Anything creativity can fathom can be implemented in the metaverse for the benefit of all parties involved. By relying on the unlimited opportunities of the metaverse in its incorporation of virtual reality, content creators will be able to unleash their creativity and allow it to roam wild. Such promises of unseen quality of content can only be described as honeysuckle for an eager audience of viewers longing for more variety in types of content consumed — and, more importantly, new experiences.
The blockchain basis of the metaverse offers even more benefits for content creators, as it allows them to employ various mechanisms for monetizing their content through the versatile nature of internal cryptocurrencies. Users can stake their digital assets on specific creators, encouraging them to release more content of a certain type. Others can pay to access special content, while others can simply reward their favorite creators with donations. The monetization avenues are numerous, and content creators can always be sure that their talent will be paid for and no hosting platform can strip them of their earnings.
Even more lucrative are the prospects for businesses in terms of content-creator economy permeation in the metaverse. Marketing, advertising and promotion in general gain a new lease on evolution with content that can be tailored in an endless variety of ways and seamlessly integrated into the channels of select creators. The metaverse provides businesses with an entirely new frontier for deployment and audience reach, and the creators are the takeoff ramps that can showcase products and services before their followers — for a price.
In digital hindsight
The metaverse is the next iteration of the internet we know today: a fully user-centric environment serving the purpose of elevating creativity to a new level. However, audiences will not be the only sources of revenue for content creators, as businesses are eager to tap into this lucrative niche and leverage the possibilities offered by native, organic and highly versatile ad integrations in virtual reality content.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Johnny Lyu is the CEO of KuCoin, one of the largest cryptocurrency exchanges, which was launched in 2017. Before joining KuCoin, he had accumulated abundant experience in the e-commerce, auto and luxury industries.
The world’s second most dominant digital asset, Ethereum witnessed significant buying pressure on Friday as the cryptocurrency spiked by almost 5% in 24 hours. With rising prices, short ETH trading positions liquidations also increased substantially during the mentioned period.
The data posted by Coinglass shows that more than $50 million worth of positions related to Ethereum were liquidated in the last 24 hours. The number includes the liquidation of approximately $40 million worth of short positions.
Ethereum’s price remained under pressure since November 2021. In January 2022, the crypto asset reached a low of almost $2,100, down by more than 50% from its all-time high in November 2021. Since the start of 2022, Ethereum faced several challenges including the rise in short trading positions around the digital asset.
However, a sudden spike in the crypto market has caused a sharp jump in the liquidation of short trading positions. While ETH topped the list, bearish traders of digital currencies like BTC, LUNA, and SOL also faced the heat with massive liquidations.
Large Ethereum Transactions
With growing demand and a jump in its price, the Ethereum network saw a spike in $100,000+ transactions. According to Santiment, an on-chain analysis platform, ETH whale transfers have reached the highest level in nearly 1 month.
“ETH has surged back above $2,900 for the first time since March 2nd, and whale transactions are on the rise big time. Yesterday was the first day with over 7,000 $100k+ transactions on the ETH network since the war news broke,” Santiment mentioned in a recent update.
ETH outflows from leading digital exchanges have increased as well. Recently, large Ethereum holders shifted the crypto asset in enormous amounts from exchanges to cold storage. Earlier this week, ETH 2.0 deposit contract crossed 10.4 million staked Ethereum.
The world’s second most dominant digital asset, Ethereum witnessed significant buying pressure on Friday as the cryptocurrency spiked by almost 5% in 24 hours. With rising prices, short ETH trading positions liquidations also increased substantially during the mentioned period.
The data posted by Coinglass shows that more than $50 million worth of positions related to Ethereum were liquidated in the last 24 hours. The number includes the liquidation of approximately $40 million worth of short positions.
Ethereum’s price remained under pressure since November 2021. In January 2022, the crypto asset reached a low of almost $2,100, down by more than 50% from its all-time high in November 2021. Since the start of 2022, Ethereum faced several challenges including the rise in short trading positions around the digital asset.
However, a sudden spike in the crypto market has caused a sharp jump in the liquidation of short trading positions. While ETH topped the list, bearish traders of digital currencies like BTC, LUNA, and SOL also faced the heat with massive liquidations.
Large Ethereum Transactions
With growing demand and a jump in its price, the Ethereum network saw a spike in $100,000+ transactions. According to Santiment, an on-chain analysis platform, ETH whale transfers have reached the highest level in nearly 1 month.
“ETH has surged back above $2,900 for the first time since March 2nd, and whale transactions are on the rise big time. Yesterday was the first day with over 7,000 $100k+ transactions on the ETH network since the war news broke,” Santiment mentioned in a recent update.
ETH outflows from leading digital exchanges have increased as well. Recently, large Ethereum holders shifted the crypto asset in enormous amounts from exchanges to cold storage. Earlier this week, ETH 2.0 deposit contract crossed 10.4 million staked Ethereum.
