crypto blog
Internet Computer’s ORIGYN is watching the watches using NFT authentication
ORIGYN, a Swiss foundation that uses artificial intelligence (AI) to identify and authenticate objects of value, has partnered with luxury watch marketplace WatchBox. The pair will co-produce certificates of authenticity in the form of NFTs that enable customers to trade the digital ownership of a watch. ORIGYN is the largest project on the Internet Computer Protocol, or ICP, developed by The DFINITY Foundation blockchain. Individuals who purchase a collector quality timepiece via WatchBox can expect ORIGYN to certify the authenticated object thanks to its biometric technology. Each watch is given a unique biometric fingerprint and an NFT that contains all of this information is minted. These are utility NFTs that may offer customers insurance, digital provenance, con...
Everything you need to know about Ethereum 2.0 & The Merge!
Quick facts about The Merge… Ethereum 2.0 is the transition from the proof of work (PoW) consensus mechanism to the proof of stake (PoS) model. PoW is used by a handful of blockchains, the most notable of which is the father of cryptocurrencies—Bitcoin (BTC). Ethereum also started out using the PoW method, but as its popularity grew, PoW was found to be too labour intensive for Web 3.0, too slow, and too environmentally unfriendly. PoS on the other hand completes transactions more efficiently, uses less power, and benefits from much lower transaction fees. Network stakeholders validate transactions and are rewarded for their efforts with the native currency of the platform—in this case, ETH. Why do people call The Merge Ethereum 2.0? Ethereum 2.0, Eth2 or The Merge are all the same thing u...
Memecoins not to miss on April 28: BABYDOGE, FLOKI and KISHU
BABYDOGE, FLOKI and KISHU are all memecoins. Each of them has the potential for extreme growth. As their memecoin communities grow, so will the tokens. Baby Doge Coin (BABYDOGE), Floki Inu (FLOKI), and Kishu Inu (KISHU) are all memecoins that have the highest potential for growth in May. We are going to go over each token individually to get a better look at how far they can grow in value. Should you buy Baby Doge Coin (BABYDOGE)? On April 28, 2022, Baby Doge Coin (BABYDOGE) had a value of $0.000000002164. When we go over the all-time high value of the Baby Doge Coin (BABYDOGE) token, it was on January 16, 2022, when the token reached a value of $0.000000006345. At its ATH, the token was $0.000000004181 higher in value, or by 193%. When we go over the performance of the token t...
Solana Ventures partners with YGG SEA, co-leads $500K investment round
YGG SEA and Solana’s investment branch Solana Ventures announced a partnership to strengthen Solana’s operations in Southeast Asia, CoinText learned from a press release. The region’s game developers and broader gaming community will get more access to resources as a result. Solana Ventures also co-led a $500,000 investment round for YGG SEA. Solana’s ultimate goal: Expanding throughout the region The partnership with YGG SEA is a crucial step toward Solana’s ultimate goal: to expand throughout Southeast Asia. The region’s esports and gaming community numbers 225 million, making it a substantial part of the global video game industry. Rapidly growing range of YGG game titles What’s more, YGG SEA’s scholars will have access to a higher number of popular games ...
STEPN move-to-earn tokens GMT, GST hit new highs after Coinbase listing announcement
The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange. The price of STEPN’s governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date. GMT/USD four-hour price chart. Source: TradingView Similarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running outdoors with STEPN’s “NFT Sneakers,” gained 6.5% to about $6.25 on a 24-hour adjusted timeframe with a new record high of $7.20. STEPN ecosystem grows The intraday rallies in GMT and GST markets are part of a broader uptrend that started in early March 2...
Ethereum strives to migrate into a brighter future: Report
Ethereum 2.0 has been a highly anticipated development in the crypto industry. A recent Cointelegraph research report asks if Ethereum is still on track to defend its crown as the prime network backing the decentralized finance world. The report cuts through popular misconceptions investors may hold and offers a comparative analysis of Ethereum and its competitors. Meanwhile, the Ethereum foundation rebranded the Eth2 project at the start of this year. Is it trying to manage expectations or educate? New talk of consensus and execution layers In a blog post in January, the Ethereum foundation stated that developers had been moving away from the Eth1-Eth2 terminology since late 2021. Instead, Eth1 will now be called the “execution layer” and Eth2 the “consensus layer.” This is not a minor tw...
“DeFi is not decentralized at all,” says former Blockstream executive
Samson Mow, former chief strategy officer at Blokstream and founder of JAN3, is convinced that most decentralized finance protocols can’t compete with Bitcoin when it comes to providing an effective monetary network because of their lack of decentralization. As Mow pointed out, DeFi projects are governed by entities that can modify the protocol at will. “At the fundamental level, money should be immutable,” explained Mow. “If you can change it at will, then you’re no better than a fiat currency governed by the Fed.” Bitcoin’s decentralization makes it very difficult to modify its protocol, which is why Mow considers it a unique candidate for becoming a truly global monetary system. Mow pointed out that despite the immutability of Bitcoin’s base layer, developers can still build appli...
Buenos Aires to accept crypto for tax payments, launch DLT-backed citizen profiles
The capital of Argentina and an agglomeration with more than 12 million citizens, Buenos Aires will make blockchain a vital part of its digitalization drive. Specifically, the city will accept public financial transactions in crypto. As city Mayor Horacio Rodríguez Larreta revealed in his Steve Jobs-styled presentation on April 25, the 12-step development plan titled “Buenos Aires +” envisions a significant increase in crypto and blockchain adoption. Con Buenos Aires + vamos a dar un paso más en el camino hacia un Estado facilitador que desburocratice y agilice los procesos. Un camino en el que el Estado sea el que se acerca a la gente, y no al revés. pic.twitter.com/yi6fUMmAUI — Horacio Rodríguez Larreta (@horaciorlarreta) April 26, 2022 The city authorities intend to launch a platf...
Cake DeFi introduces a new feature “Borrow” to allow users to borrow DUSD
Cake DeFi, a leading Singapore-based fintech decentralized finance (DeFi) platform has announced the launch of its new product called “Borrow.” Borrow shall allow users to borrow Decentralized USD (DUSD) using Bitcoin (BTC), Ether (ETH), USD Coin (USDC), Tether (USDT), and DFI as collateral. The “Borrow” feature gives users a better option of investing in crypto rather than just HODLing. The new product shall allow users the novel opportunity of increasing their crypto portfolios and potentially also boost their DeFi earnings. The Co-founder and CEO of Cake DeFi, Dr. Julian Hosp, said: “We are excited to launch Borrow to provide users with more liquidity to invest in DeFi services while holding on to their assets. DeFi empowers people to generate passive income on their cryptocurrencies wi...
Could Lido Finance’s popularity put a damper on Ethereum’s decentralisation?
The high incentivisation of Lido Finance staking pools could centralise ETH supply control to the protocol. Ethereum will gain sufficient decentralisation to offset a potentially dominant Lido with the increasing adoption of competing liquid staking solutions. Lido Finance is Ethereum’s premier liquid staking protocol and has in recent months seen parabolic growth in the volume of staking deposits it receives. The spark behind the surge was the launch of the Beacon Chain, Ethereum’s PoS blockchain, to which users can’t withdraw their staked assets until launch. A leader in liquid staking, Lido Finance allows users, especially those who cannot manage their validator nodes, to put their ETH into staking pools at a 4% APR yield. Amongst other advantages, users who stake in Lido’s pools ...
Coinbase lists Binance USDC and also adds support for ROSE
Coinbase, one of the leading crypto exchanges in the US, announced that it has listed trading pairs of Binance USD (BUSD) and Binance. Besides, On April 11 Coinbase published the list of the top 50 tokens that it was targeting to list during the Second Quarter (Q2) of 2022. Binance USD, a stablecoin that was issued by its greatest competitor Binance and also the fourth largest Stablecoin by market capitalization, was among the tokens to be listed in Q2. Following its listing on Coinbase, BUSD has become the eighth stablecoin to be offered by one of the leading exchanges. However, Coinbase noted that BUSD will not function in its native Binance Chain (BSC) but as an ERC-20 token on the Ethereum (ETH) network. In addition, the exchange also warned its users against sending their assets...
Plan for $1M bug bounties and double the nodes in wake of $600M Ronin hack
The Ronin Network and Sky Mavis have vowed to upgrade their smart contracts, offer lucrative bug bounties and ramp up security following the $600 million hack late last month. As Cointelegraph previously reported, the Ethereum sidechain developed for the popular NFT game Axie Infinity was the victim of an exploit for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth more than $612 million at the time. Earlier this month, the Federal Bureau of Investigation (FBI) attributed the attack to North Korea-based and state-sponsored hacking group Lazurus, as it fired off a warning to other crypto and blockchain organizations. Ronin announced its platform changes via a post-mortem report published yesterday, noting that all user funds are in the process of being restored, as it vowed to ma...
