Crypto Shuttle News

Category: Investment

  • Robinhood Shows Interest towards NFTs

    Robinhood Shows Interest towards NFTs

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    Aparna Chennapragada, Chief Product Officer at Robinhood, made some statements about the interest of the  trading platform  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  , 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  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  , 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.

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  • Participate and build on Avalanche with Coinbase Cloud | by Coinbase | Mar, 2022

    Participate and build on Avalanche with Coinbase Cloud | by Coinbase | Mar, 2022

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    Coinbase Cloud and Avalanche

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  • StorX Network Becomes the Answer to XDSea Marketplace’s Storage Needs

    StorX Network Becomes the Answer to XDSea Marketplace’s Storage Needs

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    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.

    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.

     



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  • Bitcoin mining could be good for US energy independence: Research

    Bitcoin mining could be good for US energy independence: Research

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    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.”

    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.