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Binance Announces New Decentralized Storage System Based on the BNB Chain
The world’s leading crypto exchange by volume is announcing a new decentralized storage system based on its native blockchain.
In a recent announcement, Binance revealed a Whitepaper for BNB Greenfield, a three-piece Web3-enabled data storage protocol built on top of the BNB Chain.
“BNB Greenfield consists of a trinity that works together to provide a decentralized data storage system with users at the center:
(1) BNB Greenfield Blockchain + Storage Providers.
(2) New BNB Greenfield dApps.
(3) Existing BNB Chain dApps.”
Binance says it’s working with Amazon Web Services (AWS) in building the system, as well as blockchain infrastructure firms NodeReal and Blockdaemon.
According to Binance, the new system aims to allow for personal cloud storage, website hosting, a social media function, as well as storing transaction data from the BNB chain. Read More
New Cardano-Based Stablecoin DJED Quickly Attracts Over 27,000,000 ADA in Reserves
A new decentralized stablecoin based on smart contract platform Cardano (ADA) is quickly gathering millions of ADA in its reserves.
According to data from Djed (DJED), the new stablecoin has seen a parabolic rise in its reserve assets, leaving it overcollateralized as intended.
The data shows that DJED has a 591% reserve ratio with just over 27 million ADA tokens backing it at the time of writing. Djed’s website also gives insights into the stablecoin’s mechanism and how it aims to remain stable due to over-collateralization.
“DJED is an overcollateralized stablecoin that uses exogenous collateral to ensure stability. The protocol is backed by 400%-800% over-collateralization and is guaranteed by its reserve coin, SHEN.
The stability of DJED is based on over-collateralization, which eliminates the need for trust in a governance protocol as seen in algorithmic stablecoins.”
DJED, created by payments platform COTI Network (COTI) and backed up Cardano’s native asset, officially launched earlier this week on the Cardano blockchain. Read More
Top 7 blockchain courses and certifications for beginners
Blockchain courses and certifications help individuals understand the underlying principles and applications of blockchain technology.
Blockchain courses and certifications can play an important role in helping individuals gain a comprehensive understanding of blockchain technology and its applications. By completing these courses, individuals can develop technical skills, stay current with industry developments, enhance their career opportunities and increase their earning potential.
Here are seven blockchain courses and certifications for beginners. Read More
DeFi enjoys a prolific start to 2023: Finance Redefined
DeFi marks a perfect entry into 2023 with a bullish January and TVL nearing $50 billion.
2023 started on a bullish note for the entire crypto market, including the DeFi ecosystem, with most of the tokens posting double-digit gains in January and recording multi-month highs. Aside from the bull rally, January also saw a 93% year-on-year decline in losses from DeFi exploits and hacks.
The slew of regulatory action against the Mango Markets exploiter is being hailed as a big win for the DeFi sector. The United States Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have taken action against the alleged fraudster, which shows that DeFi is becoming a “safer and more welcoming environment,” according to credit rating firm Moody’s.
Amid all the positive developments, Solana DeFi protocol Everlend shut down over liquidity issues stemming from the FTX crisis and told users to withdraw funds. North Korean hackers also tried laundering $27 million in Ether from the Harmony bridge attack.
The bullish momentum of the top 100 DeFi tokens continued into February as the total value locked (TVL) in DeFi protocols reached nearly $50 billion, with most tokens registering another weekly price surge. Read More
Markethive Leading The Way In Web 3 Social & Market Media
Web 3.0 is the next generation of the internet which people envision will be more decentralized and permissionless. One that's built on decentralized protocols, where users help with content creation and the governance of the web itself. They also have the ability to own a part of the network, so you can think of it as a Read-Write-Own Internet.
There are already several technologies that could serve as the backbone for a Web 3 world. Most point to blockchains like Elrond, Cardano, or Ethereum, for example, but other distributed technologies like IPFS can also be used to decentralize networks.
Thousands of dApps (decentralized applications) are already being built in the Web 3 environment. These often include native tokens to add value to the application to those who hold the tokens. These native crypto assets allow those who participate in the network to share in the value generated from it.
Web 3 promises a decentralized alternative where we are all users, owners, and developers. This quote from Fabric Ventures sums it up beautifully,
“Web 3.0 enables a future where distributed users and machines are able to interact with data, value, and other counterparties via a substrate of peer-to-peer networks without the need for third parties—the result: a composable human-centric & privacy-preserving computing fabric for the next wave of the web.” Read More
Proof-of-Stake-and-Activity (PoSA): A consensus mechanism for the new era in Web3
This company just launched an innovative consensus mechanism that rewards activity instead of simply measuring stakes.
Blockchain technology has disrupted various industries by providing a secure decentralized platform for transactions and data storage. The consensus mechanism is one of the most critical components of any blockchain out there, as it ensures its reliability and security. In recent years, new consensus mechanisms have been introduced, and existing ones have been improved to cater to the growing demands of the industry.
To date, proof-of-work (PoW) has been the most widely used consensus mechanism in blockchain technology. However, PoW blockchains have several limitations, including slow transaction processing times, high energy consumption and scalability issues.
To address these challenges, several new consensus mechanisms have been proposed, such as proof-of-stake (PoS), delegated-proof-of-stake (DPoS) and leased-proof-of-stake (LPoS). These new consensus mechanisms are designed to overcome the limitations of PoW and provide a more energy-efficient and scalable solution for blockchain technology.
Up-and-coming Web3 company Fastex is taking this development to the next level by introducing its very own ecosystem of tools and products that will rely on the innovative proof-of-stake-and-activity (PoSA) consensus mechanism. Read More
Is it possible to achieve financial freedom with Bitcoin?
Bitcoin aims to bring power back to the people. Beyond that, a calculated investment in Bitcoin can potentially bring one closer to financial freedom. But how does one do that?
Over the last 14 years, investors have been attracted to Bitcoin for many reasons — from being a potential solution to the economic woes of the existing fiat economic system to reaching the unbanked and diversifying portfolios. However, a large portion of the general public sees Bitcoin as a gateway to financial freedom amid growing fiat inflation and geopolitical uncertainties.
Traditional banking systems have, time and again, served as a tool for centralized governments to dictate financial access, especially during emergencies. Most recently, the Ukraine-Russian war served as a case study for how cryptocurrencies helped the displaced and the unbanked access funds for basic necessities.
As intended by the creator Satoshi Nakamoto, Bitcoin seeks to bring power back to the people. No amount of regulations, sanctions or bans can stop people from using Bitcoin as money. Beyond that, a calculated investment in Bitcoin has the potential to bring people closer to attaining their dream of financial freedom. But how can people achieve that? Read More
Developing a Future-Proof Blockchain – A Blueprint for Success
Blockchain technology was first applied in 2009 when Bitcoin was launched. Since then, businesses from a variety of industries have begun experimenting with the technology. From health records management, to supply chain tracking, to video games, it is currently being used in a variety of fields.
The inclusion of smart contracts in Ethereum and other blockchains has broadened the use cases for this innovative technology. In many respects, blockchain is still in its infancy – similar to the early days of PCs, when they were mainly used by enthusiasts.
Since then, technology has advanced to a point where we can do virtually anything online, whether we’re watching shows or buying groceries.
We can expect blockchain to follow the same trajectory in the future. In order for it to prosper in every market, it must first have the features necessary to make it mass-adoptable. Let’s explore these features and see if they can be found in any existing blockchains. Read More
‘Decentralized Infura’ may help prevent Ethereum app crashes: Interview
The initial Decentralized Infura marketplace, which is currently in development, is expected to include up to 10 Web3 data providers.
Infura is developing a decentralized marketplace of data providers that will help to prevent Web3 app crashes in the future, according to a Feb. 6 Cointelegraph interview with Infura researcher Patrick McCorry.
McCorry stated that the new “decentralized Infura” will help to ensure that blockchains remain decentralized by distributing data provider services among multiple providers in a marketplace. It will have “up to 10 providers initially” that will “work together to bootstrap the network and then […] Gradually iterate and get more players.” Some potential partners will meet at ETH Denver in late February or early March to discuss the project’s next steps.
The new project will not be a new blockchain. Instead, it will be a marketplace that matches consumers of blockchain data with data providers. The current centralized Infura will simply be one of the providers on the network, as McCorry explained:
“There’ll be a marketplace where basically the new providers will sign up [...] They can place the resources that they have available, so they can say, 'I can satisfy these requests at this price.' Users could come along and then buy those resources and then it’s like a matchmaking service of users.” 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.
