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Stripe Is Integrated By Solana Market Maker For Fiat-To-Crypto Transfers
The automated market maker Orca, which is situated in Solana, California, has just finished an interface with Stripe, and as a result, the company is now taking purchases using fiat money in addition to accepting transfers from fiat to cryptocurrencies.
As the Solana ecosystem continues to recover from the aftershocks generated by the FTX liquidity earthquake, Orca, which is considered to be one of the most significant automated market makers (AMMs) in the Solana ecosystem, has announced a new integration.
The announcement of the AMM's relationship with Stripe, which will allow its new fiat-to-cryptocurrency on-ramp, was made earlier today. This will make decentralized finance (DeFi) more accessible to users who are already part of the existing ecosystem as well as others who are not already part of it.
Purchases may now be made using fiat cash, in addition to transactions including both fiat currency and cryptocurrency, thanks to the recently developed link.
The standard native SPL tokens that are native to the blockchain may now be purchased using fiat currency by users. These tokens are native to the blockchain. Among these tokens are the USD Coin and the SOL. Read More
Opera Crypto Browser to enable instant NFT minting through launchpad
Opera executive Susie Batt says that the tool will not have any platform usage fees and will allow people to freely explore the NFT industry.
In an announcement sent to Cointelegraph, the firm stated that it has partnered with Alteon LaunchPad to let beginners in Web3 or the NFT space easily mint NFTs. With the integration, users will be able to access a feature that lets them drag and drop media files into the browser, which writes a smart contract and uploads the file into a blockchain, turning the files into NFTs.
According to Susie Batt, an Opera executive, this will allow users to explore Web3 and contribute to the ecosystem. In an announcement sent to Cointelegraph, Batt explained:
“Now, our users will be able to create NFTs instantly and simply with no platform usage fees, encouraging more people to explore the burgeoning NFT industry.”
The team believes the tool will let users without any Web3 experience access the Web3 economy, allowing artists from different backgrounds to create NFTs in a less complicated way. Read More
The future of smart contract adoption for enterprises
Smart contacts capable of handling complex computations, while ensuring a level of privacy is the future for enterprise adoption.
Decentralized finance (DeFi) markets may have cooled down over the past year, but the technology powering these applications continues to advance. In particular, smart contract platforms that enable transactions to take place across DeFi applications are maturing to meet enterprise requirements.
While it’s notable that enterprises have previously shown interest in DeFi use cases, smart contract limitations have hampered adoption. A report published by Grayscale Research in March puts this in perspective, noting that “Despite handling millions of transactions per day, smart contract platforms in their current state would be incapable of handling even 10% of the world’s internet traffic.”
This notion is particularly troublesome considering the market opportunity behind DeFi. For instance, Grayscale Research’s report mentions that DeFi and Metaverse applications combined are likely to have a market capitalization much larger than the current digital asset market. Read More
How to keep your cryptocurrency safe after the FTX collapse
Sam Bankman-Fried’s fraud of misappropriating users’ funds has led investors to explore options that can help safeguard their investments.
The fall of the FTX crypto exchange forced many to reconsider their overall approach to investments — starting from self-custody to verifying the on-chain existence of funds. This shift in approach was driven primarily by the lack of trust crypto investors have in the entrepreneurs after being duped by FTX CEO and co-founder Sam Bankman-Fried (SBF).
FTX crashed after SBF and his accomplices were caught secretly reinvesting users’ funds, resulting in the misplacement of at least $1 billion of client funds. Efforts to regain investor trust saw competing crypto exchanges proactively flaunting their proof of reserves to confirm users’ funds’ existence. However, community members have since demanded that the exchanges show their liabilities to safeguard the reserves.
With SBF, the self-proclaimed “most generous billionaire,” committing fraud in broad daylight with no visible legal implications, investors must maintain a defensive stance when it comes to protecting their investments. To safeguard assets from fraud, hacks and misappropriation, investors must take certain measures to keep total control of their assets — often considered as best crypto investment practices. Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single-chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all. Read More
How to buy food with Bitcoin?
Users can pay bills with cryptocurrency directly from their crypto wallet or using a payment processor acting as an online crypto payment gateway.
Bitcoin is a dynamic monetary asset with the potential of being both — a commodity and a currency. For instance, the Securities and Exchange Commission (SEC) classified BTC as a commodity, whereas El Salvador made Bitcoin a legal tender in 2021.
So, does this make BTC a store of value or a medium of exchange? It can do both — On one hand, BTC can be added to treasuries as an inflationary hedge. On the other hand, it could also serve the retail purpose of paying for routine expenses.
Almost over a decade ago, the first person to utilize Bitcoin for a business transaction was Laszlo Hanyecz, who spent 10,000 BTC on two pizzas, or as the crypto community addresses it, the Bitcoin pizza. However, that is not the amount of BTC anyone needs to actually buy food in the real world now. Why? Because customers have realized to only pay the amount for which the product is worth, not more or less.
This article will discuss different ways by which one can buy food using Bitcoin. From crypto debit cards and gift cards to crypto food delivery portals, this article will lay down all possible options to efficiently use cryptocurrency for grabbing a meal. Read More
Many DAOs and Web3 Projects Are ‘Decentralization Theater’: Tezos Co-Founder
Kathleen Breitman says a focus on decentralization is critical to achieving longevity in Web3.
Tezos Co-Founder Kathleen Breitman says many Decentralized Autonomous Organizations remind her of middle school.
“The way I see most of these DAOs fail, it’s like they basically act as a really crappy school project,” she said. “When I was in middle school, I was always the person who wound up doing the work in the school project, so I'm very sensitive to this dynamic.”
Breitman said a DAO can quickly devolve into one member taking a larger stake in the decision-making process than their peers, and warned against putting people in a position of power that gives them the authority to overrule decisions once members of a DAO have weighed in.
Voting is one element of a DAOs function, but ratifying a measure that’s agreed upon is just as important, she said.
“If you don't have any sort of way to algorithmically or programmatically enforce the decisions made by the group, you're gonna wind up with just trading in one gregarious character for another,” she said on the latest episode of Decrypt’s gm podcast. “That's not a way to govern anything.” Read More
TIMEX Launches $2,500 Bored Ape Watches and Matching NFTs
The luxury watchmaker unveiled a line of 500 one-of-one customizable timepieces.
Owners of Bored Ape Yacht Club NFTs will soon be able to show off their PFPs on their wrist, enshrined in a one-of-a-kind TIMEX watch.
The collaboration between TIMEX and the Bored Ape Yacht Club community will bring the release of 500 timepieces that will display an owner’s Ape or Mutant prominently on the watch’s face. Those who buy the watch will be able to customize it, with a choice of case, strap, and selected etchings.
The sale of Timepiece Forge Pass NFTs began today, which can be minted for 2 ETH, or around $2,500 as of this writing. Around mid-December, Forge Pass owners will be able to design their own watch on TIMEX’s website.
Each physical watch will be accompanied by an identical, digital version as an NFT, separate from the Forge Pass NFT. But they won’t arrive in time for the holidays and are expected to be shipped to purchasers sometime in the second quarter of 2023.
"Timex is entering Web3 by keeping creativity and community at the forefront," said Shari Fabiani, Timex Group’s senior vice president of global marketing and creative services. “We are redefining and pushing the boundaries of physical, virtual, and now phygital products." Read More
Let’s Dispel Some Misconceptions About Wrapped Bitcoin and Ethereum
This week saw misinformation on Twitter about potential "insolvency" of WETH. None of that was accurate. Here's how wrapped coins work.
There’s been a ton of chatter about wrapped tokens like Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH) this week—some of it legitimate, some of it top-tier shitposting.
Earlier this week, several notable crypto Twitter accounts began peddling the idea that WETH was on the verge of collapse.
“ATTENTION: WETH is about to be insolvent,” tweeted crypto influencer Cygaar. “I will begrudgingly bail out anyone holding WETH at a rate of 0.5 ETH per WETH in order to save this space. You can thank me once the crisis has been averted.”
“We might see a bank run on redeeming WETH soon,” tweeted Gnosis co-founder Martin Köppelmann.
None of this was true.
Unlike the bank-run tweets that swirled around Twitter amid the FTX collapse, WETH doesn’t have the same counterparty risk. There is no centralized organization custodying the underlying Ethereum. There are no over-leveraged funds in the Bahamas taking a massive risk with user funds.
Instead, the key risk here is smart contract risk. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
