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MetaMask Adds Instant Bank-To-Crypto Transfers For U.S. Customers
Ethereum wallet MetaMask has added a function that makes it easier for users to convert their fiat currency into cryptocurrencies through integration with fintech firm Sardine.
MetaMask users in the U.S. will now be able to purchase cryptocurrencies much easier after the wallet added an instant bank-to-crypto feature via the automated clearing house (ACH) settlement merchant Sardine. The parent company of MetaMask, ConsenSys, published an announcement that explains the new feature:
With Sardine’s new instant ACH integration, you can buy crypto instantly with no settlement delays. Instant ACH allows orders to complete in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH, the company said in a blog post.
MetaMask’s newly integrated feature allows users to transfer their fiat for crypto with a maximum limit of $3,000 per day. In a blog post, ConsenSys argues that instant ACH transfers through Sardine are a much better option for some users. They add that going through a crypto exchange or paying with a credit card can be less flexible because such methods may have monetary limits imposed on them or may result in declined transactions. Read More
Algorand DeFi Is Booming. Here's Why
The total valued locking in DeFi protocols on Algorand has hit a new all-time high of $270 million.
Liquidity is flooding into Algorand's DeFi ecosystem. The total value locked on Algorand hit $270 million for the first time today.
Hivemind Capital deployed $25 million worth of capital in Algorand DeFi, giving the ecosystem a liquidity injection.
Several other catalysts have helped Algorand boom ahead of other projects, but the rise may be shortlived due to the macro climate.
Crypto investment firm Hivemind deploying $25 million into Algorand DeFi is one of several catalysts attracting liquidity to the Layer 1 chain.
A new cash injection has helped raise DeFi activity on Algorand.
Money flowing into the Layer 1 blockchain’s ecosystem has soared this week following an announcement that Hivemind Capital had deployed 80 million ALGO tokens into various DeFi and governance programs across the Algorand ecosystem. At the current price of $0.31 per ALGO token, Hivemind’s commitment totals more than $25 million. Read More
How decentralized exchanges have evolved, and why that’s good for users
Decentralized exchanges have improved usability and user experience, becoming a good option for investors in the crypto space.
Decentralized exchanges (DEXs) first appeared in the cryptocurrency industry in 2014, allowing users to trade a wide number of assets peer-to-peer.
However, the first iterations of these platforms could be difficult to use. But, since their inception, developers have worked to make them easier and more accessible for users.
Decentralized exchanges work by using smart contracts to fulfil orders placed by traders, allowing users to trade directly with each other instead of relying on a centralized platform. Unlike a centralized exchange (CEX), when traders engage with a DEX, their funds are not stored on the exchange. Instead, users initiate trades directly, with tokens being taken and deposited into their noncustodial wallets.
In the past, most DEXs used order books, a system that keeps a record of all the open buy and sell orders placed on an exchange. While many decentralized exchanges still use order books today, automated market maker (AMM) DEXs have grown massively in popularity due to their simplicity and increased liquidity. Read More
Mastercard Launches Service To Help Banks Offer Crypto Trading
Mastercard has debuted a service that will allow customers to buy and sell digital assets via their bank accounts.
Digital payment service giant, Mastercard, is launching a program that will allow mainstream banks to offer cryptocurrency trading to their customers. According to reports by CNBC, Mastercard’s new venture will see them act as a middleman between banks and the cryptocurrency trading platform Paxos Trust Co. This new arrangement is similar to the one that allows users to trade cryptocurrencies through PayPal, who also use Paxos to facilitate trades. Mastercard has said that it will act as a “bridge” between Paxos and banks and will handle regulatory compliance and security - which are two of the main reasons for banks’ reluctance to cryptocurrencies.
Mastercard has called its product “Crypto Source” and has said that it will kick off by offering it in the U.S., Israel, and Brazil early next year as a pilot program according to Mastercard’s President of Cyber and Intelligence, Ajay Bhalla.
Banks have thus far been rather hesitant about cryptocurrencies but have been warming up to them citing regulatory concerns as reasons not to offer them to their retail clients. This new service offered by Mastercard however may help cryptocurrencies gain more mainstream adoption. Bhalla added that being able to buy crypto “from your own bank where you have your bank account is a very big need from the market and something consumers want.” 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
Ripple’s XRP Ledger Is Getting a Sidechain That’s Compatible With Ethereum
RippleX developers are currently testing an Ethereum-compatible sidechain and a bridge that will connect it to the XRP Ledger’s mainnet.
Blockchain software company Peersyst has launched an Ethereum-compatible sidechain on the XRP Ledger’s devnet, Peersyst and RippleX announced Monday. Devnets, or developer networks, are separate from a blockchain’s main network, or mainnet, and are used to test and troubleshoot new technologies.
This means the Ethereum-compatible sidechain for XRPL is now live, but still in an early phase. The sidechain uses the coding language Solidity, the same code that is used to program applications and smart contracts on the Ethereum network and other Ethereum Virtual Machine (EVM) blockchains, such as Avalanche. But unlike Ethereum, the XRPL sidechain uses XRP as its native currency.
Ripple CTO David Schwartz said over a year ago in September 2021 that an EVM-compatible chain on the XRPL was in the works.
“Sidechains make it easy for developers to customize the chain for their use cases,” Schwartz previously wrote on Twitter, adding that “Bringing Ethereum smart contracts to the XRPL could lower the barriers to entry for developers to build powerful DeFi apps with cross-chain interoperability.” Read More
Redlight Finance Offers New Blockchain Solutions For Users
Redlight Finance, with the official governance coin $REDLC, is a crypto technology platform that provides new features for users, improving their investing journey. They have introduced Redlight Chain, a Layer 1 EVM-compatible blockchain with new features.
The new functionalities provided by Redlight Finance give users a new perspective on investing. The Redlight blockchain, created with innovation in mind, addresses two significant issues: gas prices and traffic congestion.
By introducing the gasless blockchain, Redlight Chain aims to address the blockchain trilemma of scalability, decentralization, and security.
Most businesses don't want to pay gas fees to conduct transactions, so $REDLC is trying to address the issues with traditional Blockchains. In addition to its already achieved goal of creating a blockchain-compatible EVM that focuses on scalability, decentralization, and security, the project makes this issue its primary objective. Read More
'Solana Killer' Aptos Launches Its Highly Anticipated Mainnet
The VC-backed Layer 1 solution was built by Meta alums and touts a novel transaction-ordering algorithm.
With a secret sauce conjured in the bowels of Meta, and a mission to provide "the safest and most scalable layer 1 blockchain," Aptos launched its mainnet today, the culmination of four years of technical development and a $1 billion valuation. Leading exchange FTX, an Aptos investor, has already announced that it will list Aptos' APT token on Wednesday.
Dubbed a potential "Solana killer" by many, Aptos is the latest high-profile attempt to build the perfect blockchain for smart contracts, code that supports the sprawling world of NFTs, DAOs, and DeFi.
While Ethereum has taken a major leap forward following the merge, challengers like Solana are making inroads with much faster transaction speeds—albeit with occasional outages that left the door open to even newer players like Aptos. Read More
Ultimate Guide – The Impact of Blockchain on the Future of Web 3.0
If there is one thing that is for sure, it is the fact that the future of the web is gradually revolutionizing. Thanks to blockchain technology, with its secure, transparent and tamper-proof ledger system, blockchain will change how we use web services.
Web 3.0 is the emerging blockchain-based platform that will change the way we interact with the internet. It is a decentralized network that allows trustless interactions between parties, and it has the potential to revolutionize many industries.
It is also the emerging ecosystem of DApps (decentralized applications) and distributed networks built on blockchain technology. It will allow transparency, trust and security in online interactions – things that are largely challenged on the current Web 2.0 due to online fraud and scams. 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.
