Category: Cryptocurrency News

Sky-high prices may seem hard to imagine, but so far, bullish metrics are simply repeating previous bull market years, charts show.

Cointelegraph spoke to Chris Le, the co-founder of NFT sneaker brand RTFKT Studios for an exclusive insight into the project’s vision and ambitions.

Blockchain technology has been used for all kinds of cases for years now, ever since the introduction of Ethereum and its smart contracts. And during this period, the industry has developed considerably, with lots of new advanced platforms emerging, and blockchain expanding to reach almost every industry around the world. However, it will always have special ties to things like gaming and gambling, which were among the first to adopt it. This is the thing that a project called QChain is focused on. QChain comes as a decentralized lottery platform, one of the main goals of which is to connect millions of blockchain enthusiasts from all around the world and make them join forces around this multi-chain platform. As a result, the platform is planning to create the most powerful decentralized ecosystem in the entire crypto industry. The gambling sector has always been very popular and rather big, and it grew even bigger during 2020 and 2021 when COVID-19 forced people to stay indoors and spend more time online. In fact, its growth is so massive that gambling is expected to hit a $500 billion market value by 2026. Meanwhile, nearly 30% of the total revenue is contributed by lotteries, which shows how big this segment is now. Today, we are going to get a better insight into these closely mixed sectors, so we will ask several questions to QChain’s CEO, Andrei Zaitsev, hoping to get his expert views on the matter. Q: How is blockchain technology changing lottery gaming? A: The most important thing blockchain technology can offer is transparency. Thanks to the distributed registry, information about all operations in the system is available to every user, which means that manipulation is impossible. Everyone will immediately notice it. Q: What aspects of the blockchain lottery are different from the traditional lottery? A: From the player’s point of view, the main difference is that the bets and wins are made and received in local currency — tokens. In addition, all operations are carried out automatically and instantly. Including the withdrawal of the funds won, in contrast to the traditional lottery. Q: Is blockchain-based lottery popular? A: Not yet. This is mainly due to the fact that the blockchain-based lottery is a new technology, it is only a year or two old and it hasn’t yet gained popularity. But I am sure that after people appreciate all its benefits, they will no longer want to play the traditional lottery. Q: Are there any downsides to blockchain-based lottery compared to the traditional version? A: Nothing comes to mind) Unless the player has no device at all, which is extremely rare in the modern world. Our lottery can be played on a PC, smartphone, or tablet. Q: What properties of the blockchain are the most useful to the lottery? A: As I said, the main advantage of the blockchain lottery is the openness of the drawing process possible due to the distributed registry. In addition, everything goes quickly and is automated because of smart contracts. The commissions in the Qchain ecosystem are minimal (there are no intermediaries) for the withdrawal/transfer of funds. Q: What cryptocurrencies can be used for the lottery? A: In the lottery based on the blockchain platform, we use its internal token. The internal token for our Magic Lotto is QDT is used as the currency. In tokens, you place a bet and get a win. These tokens can then be converted into fiat currency. Q: Is blockchain-based lottery safe? A: Yes, for one hundred percent! Firstly, smart contracts guarantee payments in case of winning, secondly, all information about users in the blockchain network is confidential, and thirdly since the game is based on the blockchain platform, any hacker attacks are nearly impossible, they are simply meaningless. Q: Is the blockchain lottery regulated, or are there signs that it could be regulated soon? A: As for the legislative regulation of blockchain technology, it varies in different countries. Every year, as capitalization in this sector of the economy grows, the governments of different countries are trying to introduce a regulatory system, so in the near future, there will be changes. At the moment, blockchain lotteries are not regulated by separate legislation but are subject to the rules regarding online gambling. Q: How does QChain differ from other blockchain lotteries? A: It is worth noting that our lottery is based on the latest generation of the blockchain network called Qchain, which means that all players get access to the fastest, most reliable, secure, and confidential gaming platform. There is also a multilevel system of bonuses for invited participants. Q: What services besides lottery does QChain offer? A: In addition to the lottery, there is a number of interesting products on the platform: decentralized data storage — QStorage; exchange for custom goods and services — Qchain Marketplace; service for staking — QStaking; decentralized exchange for cryptocurrencies and fiat money — QDex; service for those who work in the cryptocurrency market — QTI. Well, thank you very much, Mr. Zaitsev. We hope you enjoyed our interview and now understand better the role of blockchain technology in the gaming industry and what benefits we as players can get from it.

Decentralized finance (DeFi) reached over $150 billion in total value locked (TVL) in the last year. Despite this exceptional increase in TVL (from under a billion at the start of 2020), the number of users that interact with DeFi still pales in comparison with how many people invest in the rest of the crypto market, and these numbers are a drop in the bucket compared to those posted by traditional finance. DeFi’s TVL is only a fraction of the two trillion dollar valuation of the entire crypto market. Furthermore, the entire crypto market is valued at a figure smaller than just one publicly traded company on the stock market, Apple. Putting these figures side by side, one could assert that the growth potential for DeFi is astounding. That being said, peer-to-peer financial services delivered through blockchain technology may have a bullish future ahead, but they will need an extra push to increase their adoption beyond the tech-savvy crowd. This is where the copy-trading decentralized application (dApp) FNDZ is opening DeFi’s doors to mass adoption by providing an easy-to-use platform for learning how to participate in token swaps on decentralized exchanges (DEXs) by following expert traders. Shifting the Rising Interest in Crypto Markets Towards DeFi Social trading platforms have helped increase the number of retail traders over the last decade, and copy-trading has become an incredibly popular way for new traders to learn about markets. FNDZ is providing a similar service for crypto trading that eases users’ entry to DeFi through its decentralized and transparent copy-trading platform, so users don’t have to make the journey into DeFi by themselves. Valentino Cremona, Operations and Tech Lead at FNDZ, says, “Moving users away from centralized services and towards decentralized trading is a major step forward for the mass adoption of DeFi. FNDZ ensures the trustless benefits of blockchain technology can be harnessed by newbies through a user experience that rivals most centralized exchanges (CEX).” Differentiating User-Friendly DeFi from Centralized Platforms Although FNDZ has been developed to match the ease of using a CEX, decentralization and transparency set FNDZ apart from centralized trading platforms in several ways. Centralized platforms offer their services off-chain and can levy hidden fees, and these fees can eat away at any profits made through trading. In addition to chipping away at profits, these platforms expose investors to unnecessary risks through the use of contracts for difference (CFDs). In short, investors do not retain custody of the assets they buy through their trading platform when signing a CFD. Consequently, the platform’s bankruptcy, mismanagement, or security flaws that lead to a hack could mean investors may witness their holdings disappear overnight. Robin Ubaghs, Marketing & Growth Lead at FNDZ, says, “FNDZ solves these problems through its embrace of decentralization. Users retain custody of all of their assets when using FNDZ, and the platform allows users to interact with its copy-trading services through an easy-to-use dApp run by a distribution of audited smart contracts, instead of just one contract that can attract exploits, for added security.” Benefits for Traders of All Levels Fees for copy-trading services are transparent and posted upfront by the expert traders each user can follow for guidance in the crypto market, and trades are made through DEXs where transactions can be tracked through on-chain data. Here, it’s important to note that DEXs operate as automatic systems that ensure with 100% certainty that no intermediary can interfere with a token swap, so trades are always executed fairly and according to code. Another benefit of leveraging an open-source platform like FNDZ is increased access and rewards for traders that want to monetize their following. For example, FNDZ allows traders to receive a commission for each user who wants to copy their trades. A trader can then stake FNDZ to earn fee discounts and rewards from each of their trader’s profits. The best part is anyone can create a trading vault and the most successful vaults will be ranked and indexed by an algorithm to ensure transparency and recognition are both met. Complete Decentralization from the Bottom to the Top FNDZ ticks all the boxes for what makes a DeFi platform such a powerful tool, and it strives to make this powerful tool accessible to everyone no matter what their prior knowledge of DeFi. In a further nod towards DeFi standards, FNDZ will operate as a decentralized autonomous organization (DAO), which means there won’t be a traditional corporate hierarchy running the platform. Rather, in lieu of a CEO, anyone who holds $FNDZ tokens will be granted voting power over how the platform operates in the future, making FNDZ a platform run by its members, for its members. DeFi is growing, and the goal of the DeFi community is to get as many people on board as possible. Since DeFi depends on the power of people to make the system work, the more people who participate in DeFi, the better DeFi works for all who participate. Geared towards this goal, FNDZ’s DeFi-centric copy-trading platform could be the catalyst that finally brings DeFi to the masses. Image by Sergei Tokmakov Terms.Law from Pixabay

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Follow the recording on beacon chain metrics & benchmarking with Parithosh (Ethereum Foundation) & Leo (Barcelona Super Computer) explaining standardization of metrics, benchmarking, #interoperability, resource analysis of #Ethereum Consensus clients. PEEPanEIP #48: Beacon chain metrics & benchmarking with Parithosh & Leonardo ​ Resources: Slides A webpage on metrics standardization process Beacon chain proposals PEEPanEIP playlist…
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The gaming token, which reached $150 in the early UTC hours of Monday, risks correcting below $90 as a key technical indicator identifies its overbought conditions.

So what’s the plan to lower these fees? submitted by /u/Chewigram [link] [comments]

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Since the inception of Bitcoin in 2009, cryptocurrencies have evolved into a universe of their own, with their own tokens, projects, platforms and communities. However, it all started with the idea of creating a digital currency that no financial institution could control. What is Bitcoin? Bitcoin is the most popular digital currency or cryptocurrency founded by someone named Satoshi Nakamoto in 2008. Nakamoto designed Bitcoin as a peer-to-peer electronic cash system in a decentralized environment. The potential of this system was only realized later when traditional banking systems became rigged to benefit the investors rather than the users. Bitcoin is created through a process of Bitcoin mining which requires specialized mining hardware and software. Mining is a process of solving complex computations and registering transactions to create new blocks on the blockchain. Blockchain is a public digital ledger where every cryptocurrency transaction is recorded. The present While the new era of digital currencies a decade ago was considered to be a futile investment, the risk-takers back then are rewarded today. Starting from the low price of a few cents, Bitcoin today is priced at $42.223 and reached the highest of around $70,000 earlier this year. Bitcoin has become a name synonymous with cryptocurrencies and is used for various purposes all around the world. Moreover, in an exciting turn of events, El Salvador recently became the first country to accept Bitcoin as a legal tender. Bitcoin has integrated itself with the majority of industries all over the world. Bitcoin is still the highest-priced and most popular cryptocurrency, but it is not the only one. Its nearest competitor is Ether, followed by thousands of cryptos. The Future Bitcoin’s Proof of Work consensus algorithm has become obsolete today, where a new, stronger, faster and safer competitor Proof of Stake protocol has emerged. To stay relevant, Bitcoin must adapt to the new standards set by cryptocurrencies such as Bitcoin Latinum. Bitcoin Latinum is based on Bitcoin’s ecosystem and utilizes a unique version of the Proof of Stake consensus algorithm, making it faster, safer, cheaper and greener than Bitcoin. Bitcoin’s Proof of Work algorithm and mining process requires an extensive amount of energy which leaves behind a significant carbon footprint. Bitcoin Latinum has developed a green initiative to achieve a net-zero carbon footprint. While Bitcoin is still at the top and will probably remain there for a long time, it has reached the end of the line in terms of development. Cryptocurrencies such as Bitcoin Latinum are what will guide the future of cryptocurrencies. To learn more about Bitcoin Latinum, visit https://bitcoinlatinum.com/.