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How Blockchain-as-a-Service Will Benefit the Enterprise
Well, it’s 2022, and a lot has changed. Public clouds like AWS, Azure and more offer BaaS (blockchain-as-a-service). Even enterprise software giants like Oracle, IBM and Microsoft have jumped on the bandwagon.
Why? Because they’ve all realized that blockchain is much more than just Bitcoin (BTC). In fact, it’s become the new standard for how businesses deal with trust, transparency and security.
The global BaaS market size was valued at $1.9 billion in 2019 and is forecasted to reach $24.9 billion by 2027. This growth is attributed to the benefits BaaS provides, such as cost-effectiveness, time-saving and improved security.
So, what is BaaS? It’s a cloud-based service that allows businesses to build, host and use their own blockchain applications without having to worry about the infrastructure. This means that businesses can focus on their core competencies and leave the heavy lifting to the BaaS providers.
Moreover, to help you succeed in your business, a blockchain app development company can serve as your go-to-solution. There are many benefits to using BaaS, so without further ado, let’s dive in. Read More
Gym owners aim to bring NFT memberships to wellness clubs
NFT membership models are being leveraged to solve challenges faced by the fitness industry.
While many nonfungible token (NFT) projects continue to suffer losses due to the bear market, a number of organizations have begun using NFTs to solve real-world problems.
In particular, NFTs for subscription/membership-based models, or loyalty programs, are gaining traction. This point was highlighted in Forrester’s 2023 NFT and metaverse predictions report, which notes: “Brands will pivot from ‘cool’ non-fungible tokens (NFTs) towards loyalty. In 2023, brands will shift their focus to NFTs linked to loyalty, brand experience, and deepening customer relationships.”
Indeed, NFT use cases such as these are being implemented today. For example, Starbucks recently announced an NFT-based loyalty program. Industry experts have also begun explaining why subscription-based services should implement NFTs to improve relationships between brands and consumers. Read More
Binance CEO Says Crypto Industry Can Learn Two Big Lessons From Collapse of FTX
The CEO of crypto exchange giant Binance says the nascent industry has much to learn from the collapse of the embattled exchange FTX.
Hours ago, Changpeng Zhao announced that Binance intends to acquire FTX pending a full due diligence analysis of the business.
The stunning turn of events followed a deluge of doubt on the state of FTX’s financials and concerns that the company relied far too heavily on holdings denominated in the exchange’s native asset FTX Token (FTT).
Fears that FTX could become insolvent were compounded by questions on whether FTX’s trading arm Alameda Research made things worse by utilizing the token as collateral for loans.
Zhao says there are two major lessons that other players in the industry can learn from the fallout. Read More
Incoming Kraken CEO Predicts Bitcoin (BTC) Will Become Benchmark Asset in Traditional Currency Markets – Here’s Why
Incoming Kraken CEO David Ripley predicts Bitcoin (BTC) will become an important financial benchmark as use cases increase along with adoption.
In a new interview with SALT’s managing director John Darsie, Ripley says Bitcoin could start performing independently of fiat currencies like the US dollar and become used as a standard financial measurement.
“On this relative global fiat currency game, yeah it’s interesting, right? A lot of these various different domestic global currencies and how they’re performing versus the dollar are interesting. I think that’s what we’re going to be looking at as far as Bitcoin actually being a benchmark. At some point in time, of course, we’re quite volatile now and we’re risk-on and all these different pieces, but as adoption grows and use cases grow and we begin to have more and more usage for commerce and so forth, I think it’s actually going to be that benchmark with a deterministic money supply that will behave meaningfully differently than all these fiat currencies that don’t have a deterministic supply.”
The incoming CEO of the US-based crypto exchange Kraken also says that there are two clear use cases for crypto and more will follow. He says a use case must show it is 10 times better than what it is replacing. 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
Novatti successfully launches its stablecoin AUDD
Novatti successfully launches its very own created stablecoin, AUDD, with the aim and intention of effectively addressing the increasing requirement of a suitable and appropriate digital-based currency for utilizing in the case of blockchain-oriented applications.
Presently, there is also the need in the case of making purchases. This scenario is making it the need of the hour for all of the companies offering digital-based tokens to up the ante. In last June, Novatti announced the availability of $AUDC on multiple blockchain networks, including XRP Ledger, courtesy of its partnership with Ripple and Stellar.
There is an urgent requirement for these tokens to be properly supervised and possess complete clarity in all respects. The demand for them is also to be easily obtainable and have a far greater reach than what is in the current situation. Furthermore, they are needed to be positioned on all of the prime commercial blockchains.
It then became inevitable for Novatti to enter the picture frame. The entity has been successful in making its mark in the industry and has been occupied in functioning at the crossroads of both decentralized, as well as conventional finance. It then was the obvious choice as it possessed the required expertise to create and offer the exactly desired cost-saving digitally-based transaction technology in the case of its varied customers. Read More
L2 is crucial to Ethereum decentralization, censorship resistance, says researcher
Swedish researcher Eric Wall highlighted StarkNet’s influence on Ethereum’s scalability as he joins the board of the newly formed StarkNet Foundation.
Ethereum layer-2 scaling platform StarkWare has officially launched the StarkNet Foundation with the introduction of a diverse board that aims to safeguard Ethereum’s decentralization and censorship resistance.
Seven individuals, including key members from the Ethereum ecosystem and wider cryptocurrency space, will head up the nonprofit entity. An announcement shared with Cointelegraph outlined the role of the StarkNet Foundation in ensuring the maintenance and security of StarkNet’s network as well as its development and expansion.
Cointelegraph reached out to Eric Wall to unpack his appointment to the foundation’s board. Wall is a blockchain researcher and whistleblower who has exposed systemic flaws in high-profile cryptocurrency projects. Wall also acts as an adviser on cryptocurrency to the Human Rights Foundation.
Wall highlighted systemic efforts to help Ethereum continue scaling through layer-2 innovations as key to the ongoing success of the smart contract blockchain network:
“Since Ethereum is the most important DeFi chain we have, I care a lot about making sure that it sticks to the ethos of decentralization and censorship resistance. This battle is fought at the baselayer, but must also be fought at the layers above.” Read More
OpenSea Pledges to Enforce NFT Royalties After Creator Backlash
The top NFT marketplace plants a flag in the ground for creator royalties—but only after taking flak for considering otherwise.
NFT marketplace OpenSea announced this afternoon that it will continue to enforce creator royalty fees going forward.
The platform said on Saturday that it would consider making them optional for traders after rival marketplaces rejected them.
OpenSea, the largest NFT marketplace by trading volume, announced today that it will continue to enforce creator royalties on NFTs following significant pushback from the community.
“We will continue to enforce creator fees on all existing collections,” the firm wrote in a tweet thread. “We’re awed by the passion we’ve seen from creators and collectors alike this week. We were looking for your feedback, and we heard it, loud and clear.”
On Saturday, OpenSea said that it was reconsidering its policy towards enforcing creator royalty fees on NFTs, following a wave of rival marketplaces that had either rejected such fees or made them optional for traders to pay. A royalty fee is set by the NFT artist or creator, and typically falls between 5% and 10% of the secondary sale price. Read More
Why Digital Identification Is Essential to a Seamless Cross-Chain Experience
It’s common knowledge that Web 3.0 needs a better user experience for the next massive wave of adoption to take place. However, what isn’t discussed enough is the key role that identity plays in user experience.
It’s now accepted that the future will be cross-chain, but how do users seamlessly move their digital identity, assets and data throughout different networks? The best way is through DIDs (decentralized identifiers).
In Web 2.0, users must create separate logins for every platform, and these identities are stored and controlled by centralized platforms. In Web 3.0, users can own and control their own DIDs, which are stored decentrally.
Here’s how DIDs can influence the future of how the crypto industry is built – and how they will be used to empower users across the internet like never before. 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.
