Category: Cryptocurrency News

A Bitcoin mining facility in Slovakia converts human and animal waste into Bitcoin hash rate, securing the network while mining Bitcoin.

The largest grossing entertainment sector is the gaming industry. Boasting a whopping $145b in revenue, the gaming sector has taken the globe by storm. As of Q1 2022, the market value of the gaming industry is $155b (link). The gaming industry saw success during the recent pandemic, where many worked from home. Computer-based gaming saw a surge as many moved to games they could play on their work devices. The games that saw a revenue boost had short, sweet and competitive gameplay loops. Games in which someone working could log on, play for a short amount of time and go back to work saw great success (link). The surging gaming trend would soon see the improvement of blockchain technology as the concept P2E (play-to-earn) was born. P2E rewards players for gaming with the platform’s chosen token. These cryptocurrency tokens have strictly assigned dollar value based on the rarity of the token. These tokens are then automatically distributed through the blockchain to a player’s account – simply for playing. Normally transactions are limited by the blockchain used. For instance, a token on the Ethereum blockchain cannot be sent to a user on BSC (binance smart chain). However, K4 Rally is cross-chain, meaning that any user on Ethereum, BSC, Avalanche or Polygon can play with ease. K4 Rally and its token $K4R is one of the leading P2E projects with its high-quality graphics and accessible computer specifications. K4 Rally is web-based, meaning that whilst it looks incredible with its highly detailed 3D models, it can also run on an older Chromebook. Thus K4 Rally focuses specifically on accessibility and quality. Further, the game also features varied playstyles. A player can aim to win the daily and weekly tournaments, collect rally cars and race tracks, stake $K4R for passive income and more! The cars and race drivers you collect are not just cosmetic items – but valuable and tradable assets a player acquires. These items are called NFTs (non-fungible tokens) and it means the assets are similar to tokens on the blockchain. They can be traded instantly, sold and secured through a player’s private account. This means you would play K4 Rally, win a tournament, acquire a rare rally car and then be able to rent it out to players for passive gains, trade it or more. NFTs are the cornerstone of this P2E game as it provides freedom and versatility to earn money. In regards to quality, K4 Rally works only with the best-of-the-best. With over 20+ years in the gaming industry, K4 Rally is designed by GAWOONI MetaLabs. GAWOONI MetaLabs are more than just talented game designers but also blockchain developers, motorsport experts, marketing professionals and financial experts. The quality control doesn’t stop there, as the project also partnered with Rally Champion Johannes Keferböck and one of the best rally co-drivers in the world Ilka Minor. This partnership spawned the creation of the K4 Rally team. K4 Rally balances a fast-paced racing game that provides additional varying gameplay styles for players. Whilst K4 Rally’s played competitively, it also supports users who want to play, collect and have fun. Every user can play with ease, from numerous blockchains or thanks to the low system requirements. This, however, does not limit the graphical fidelity of K4 Rally as it boasts incredibly realistic graphics designed alongside a Rally Champion. Most importantly, everything the player does will earn them money. From winning tournaments to staking tokens, renting out NFT rally cars to trading NFTs. These NFTS are of the highest quality and provide unparalleled P2E possibilities. K4 Rally and their NFTs are the perfect demonstration of P2E evolving in the gaming industry. Whatever your playstyle, drift into K4 Rally and join the P2E revolution today.    

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WisdomTree has launched multiple crypto ETPs in Europe and continues efforts to launch a spot Bitcoin ETF in the United States.

In partnership with LegitDoc, the Maharashtra government is in the process of rolling out 65,000 caste certificates to aid the process of delivering governmental schemes and benefits.

Ethereum co-founder Vitalik Buterin acknowledged that high fees are threatening the future of the decentralised economy. He noted that the increased fees are disrupting Ethereum's usability. He also expressed his frustration with high fees and how such fees hinder the implementation of critical projects. Despite this, he was optimistic that sharding could reduce the fees…
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Meta is bringing interactive 3D ads to Facebook and Instagram feeds, inspired by the metaverse pivot the company has begun to execute since its name change. This is possible due to a new integration in Meta’s AR (Augmented Reality) publishing library with a development from a company called Vntana. Vntana Integrates 3D Ads in Meta’s […]

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The traditional finance world, or TradFi as we know it, lacks inclusivity. According to the data published and endorsed by the World Bank, only 69% of the world’s adult population has an account. Although financial inclusion is the enabler for seven out of the seventeen Sustainable Development Goals, 1.7 billion people are unbanked. Lack of inclusion stems from the entry barriers that the TradFi has itself cultivated in the form of unnecessary documentation needs, involvement of too many intermediaries and approvals in the process, and more. The current financial structures are rigged, believes Brian Pasfield, CTO of Fringe Finance. In an interview with beINcrypto’s Alexandra Kons, Brian said that his observations held ground for other segments as well, including gold, commodities, silver, metals, energy markets, and so forth. He added that this “gave him a bit of an insight at how things operated at a global and macro scale.” Therefore, Brian believes, the decentralization of financial systems is not an option but a necessity. A catalyst for decentralization The 2008 global financial crisis was devastating, as it wiped off $22 trillion from the United States economy. If we distribute these losses to all Americans, they would average at $72000 per citizen. The crisis made it clear that the global financial ecosystem is under the control of a few financial institutions. At a global level, the combined GDP of all countries dropped by 4%, an effect still felt by the world a decade later. However, amidst this chaos, no solution seemed like it could change the situation until Bitcoin aimed to take the world towards the path of decentralization. Bitcoin, a breath of fresh air, was truly independent, and its value wasn’t linked with the situation in any particular country. Brian, too, realized the crucial differences between Bitcoin and the rest of the financial system. While talking about Bitcoin, he said to Alexandra Kons that “it represents opportunity. Its decentralization, uncensorability, a limited supply, ushered in a way to transfer value.” He further added, “Of course, it (Bitcoin) is the first underlying component that will manifest into a truly decentralized and distributed world.” In addition, Brian sees Bitcoin as a perfect option for people to opt in for instead of being forced into by legacy centralized institutions. The first layer of transfer of value Bitcoin and other cryptocurrencies have started a revolution that isn’t stopping any time soon. Decentralized Finance, for example, is open and accessible, qualities rarely found in the financial services offered by centralized institutions. Brian says, “in DeFi, people can take part in financial services, and they do not require any permission, and (it works) in a manner that is uncensorable and (lets them) access the whole host of financial services that otherwise they would not have been able to take advantage of.” A new era? The evolution of mechanisms around pseudonymous identity and reputation is a game-changer, believes Brian. He says it’s because “this usher in a new era where individuals and organizations, particularly DAOs, will now be able to undertake dispute resolution in a pseudonymous manner.” He further adds that “dispute resolution will be based on maintaining users’ reputation because their reputation will be the largest part of the currency of their ability on a continuing and evolving basis within the decentralized domain.” What this will do, then, is add a layer of force or compulsion, which they can use to enforce rules within the decentralized space. “Reputation will be a key driver for that,” says Brian. Brian also explains that once these pseudonymous systems are established, people will be able to interact and access services within the decentralized web trustlessly. It will enable DAOs to interact among themselves and with users to hear and adjudicate disputes with real implications for users. The implications won’t be physical per se, but they will impact the reputation that a user will wish to retain. Real-world example of reputation today If we look at it from the perspective of an individual, it isn’t as if reputation is not already a part of the traditional financial space because it already is, and it is known as a “Credit Score.” Yes, a credit score is on similar lines to reputation, as it influences the chances a person will be able to avail of loans or not. But, credit scores serve the needs of exclusion rather than being vehicles of entry for a larger population. Reputation in DeFi is enabling rather than being prohibitive. It will open the way to uncollateralized loans and access other services on the web without any permission.   Image: Pixabay