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New Developments Happening in the Blockchain Space - April 25th

Posted by Simon Keighley on April 25, 2022 - 7:29am

New Developments Happening in the Blockchain Space - April 25th

New Developments Happening in the Blockchain Space - April 25th

Image Source: Pixabay


Myspace founder predicts blockchain gaming to be ‘dominant place’ for socializing

Former Myspace CEO and founder Chris DeWolfe believes that “play-to-earn represents the future of gaming.”

While many gamers are critical of blockchain-based gaming, Myspace co-founder Chris DeWolfe believes adoption is on the way as the business model inherently provides players more control over their in-game experiences.

DeWolfe, who is now the CEO of game development firm Jam City, told Cointelegraph that “the quality of the game and how developers interact and engage with players to set expectations” could eventually change the perception of skeptics. 

The former Myspace CEO also compared the advent of Web3 gaming to the early days of Web2. According to DeWolfe, many analysts were skeptical of the viability of Web2 advertising and business models:

“They also weren’t sure about the quality of user-generated content and if it would be interesting, so there were naturally concerns over adoption. However, MySpace is really a perfect example of just how powerful user-generated content would become.”  Read More


 

What is driving institutions to invest in crypto? BlockFi's David Olsson explains

“Out of the 80% of Top 50 hedge funds in the world we’ve spoken to, they all are embarking on some sort of crypto journey,” says Olsson.

In an interview with Cointelegraph reporter Joe Hall last Tuesday, David Olsson, global head of institutional distribution at BlockFi, shared his insight on the state of institutional adoption of cryptocurrencies. BlockFi is a financial services company that offers retail wealth management products, such as crypto-backed loans, interest accounts, Bitcoin (BTC) rewards credit cards, etc. Meanwhile, for institutional investors, BlockFi's proprietary platform provides financing for capital efficiency, the ability to borrow coins for hedging and shorting, and institutional-grade trading infrastructure.

When asked about any exciting trends among institutional clients adopting crypto, Olsson told Cointelegraph, "Out of the 80% of Top 50 hedge funds in the world we've spoken to, they all are embarking on some sort of crypto journey, such as starting a trading desk or investing in crypto native firms run by 25 to 30-year-olds that know how to extract alpha from crypto markets and manage the risks." 

"It really is a generational story. The early asset managers don't have the natural, digital native perspective of someone that's younger. But we see a tremendous amount of interest." Read More


 

Billionaire Chamath Palihapitiya Says Solana (SOL) Part of Massive Disruption of Global Payments Industry

Billionaire investor Chamath Palihapitiya thinks Solana (SOL) will play a part in a market disruption that challenges the financial supremacy of giant payment companies.

In a new interview on the All-In Podcast, Palihapitiya says there’s been a surge in activity in the past 90 days in the payments sector.

“Visa and Mastercard, I think, are doing the single dumbest thing they could do by being a duopoly, which is raising prices, especially into an inflationary moment, which just lacks complete knowledge and sensitivity of the moment.”

Palihapitiya notes that the decision to raise prices “creates the incentive for disruption.” He sees the Ethereum (ETH) challenger Solana as part of that upcoming disruption. Read More


 

Cronos Builds Partnership With Chainalysis

Blockchain network Cronos announced a partnership with blockchain data platform Chainalysis.

The announcement stated that the integration of the two firms will provide institutions, digital asset exchanges, and cryptocurrency funds to monitor transactions of CRC-20 tokens.

Cronos is the first Ethereum-compatible blockchain network built on Cosmos SDK technology backed by Crypto.com.

Chainalysis KYT (Know Your Transaction) - the real-time transaction monitoring solution for compliance - is now available, the announcement said.

Following the partnership, users can now monitor large volumes of CRC-20 token activity and identify high-risk transactions on a continuous basis by leveraging Chainalysis.

Meanwhile, Chainalysis Reactor - the cryptocurrency investigations solution - is under development and will be available to the public later this year for enhanced due diligence for Cronos token and all CRC-20 tokens deployed on the Cronos blockchain.

The investigations solution will allow activity compliance teams to focus on urgent activities and fulfill their regulatory obligations to report any suspicious activity by receiving real-time alerts on the highest-risk activity. Read More


 

From ARPANET To INTERNET & BEYOND

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


 

Here's how Ether options traders could prepare for the proof-of-stake migration

Ethereum Foundation members expect “the merge” to happen before year-end and savvy options traders will profit using this options strategy.

Ethereum's long-awaited transition away from proof-of-work (PoW) mining has recently suffered another delay and is expected to occur in the second half of 2022.

Ethereum developer Tim Beiko stated on April 13 that "it won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum."

An automated increase in mining difficulty designed to make PoW mining less attractive is set to become active around May. Known as the "difficulty bomb," it will eventually make blocks "unbearably slow," forcing the upgrade to a proof-of-stake (PoS) network.

Such news might have negatively impacted Ether's (ETH) price, but it creates an immense opportunity for those betting on the efficiencies and potential gains of faster and cheaper transactions.

Even though one could use futures contracts to leverage their long positions, they risk being liquidated if a sudden negative price move occurs ahead of the network upgrade. Consequently, pro traders will likely opt for an options trading strategy like the "long butterfly." Read More


 

Sensible Crypto Regulations Can Be the Catalyst for Big Money: Scott Melker (Podcast)

In this episode, we sit with Scott Melker to discuss where are we in the current Bitcoin cycle, what can we expect going forward, the metaverse, NFTs, and why he is more cautious in today’s market conditions.

Scott Melker is a popular cryptocurrency analyst and influencer with a captivating story of a former world-renowned DJ who stepped back from his professional career in music and turned to crypto.

The Wolf of All Streets – as he’s better known on social media – has been a guest on our podcast before and if you want to learn more about his past career as a DJ, make sure to check out the episode from 2021. Back then (June 2021), Bitcoin’s price had dropped from its former all-time high in April 2021 to a low slightly above $30K.

In this episode, we talk about what changed during the last year, where are we in the current cycle and what can we expect from the cryptocurrency market going forward. Listen to the podcast


 

SWEAT: The Token to Convert Steps, Movement into Crypto

Sweatcoin plans to inspire people to live healthier lives by introducing a new token.

The London-based tech company's SWEAT: The Token will be launched at the Paris Blockchain Week Summit which starts on April 13.

According to Sweatcoin, the idea behind the token is to launch a global currency based on the value of steps and movement and the cryptocurrency will be minted purely by steps.

Sweatcoin's design is primarily to incentivize people's health. It is a pioneering idea to empower people to improve their health and get paid for it.

Currently, Sweatcoin is the only mobile application available in the market that pays people to walk.

According to the company's report, Sweatcoin's 60 million users walk an average of 20% more after downloading the app.

The company has planned to give an opportunity this summer to over 63 million Sweatcoin users - who have walked over 20 trillion steps together - to connect their in-app Sweatcoins matched 1:1 with SWEAT tokens at a token generation event (TGE) timed. The event will be one of the biggest onboarding of people into crypto in history. Read More


 

Move-to-earn: An active play-to-earn offshoot

Does it look like the move-to-earn games are the next big thing in the gaming sector? Genopets and Dustland Runner, STEPN, and others are making moves to make it happen.

Play-to-earn (P2E) games continue to dominate the crypto industry as more than half of the active wallets tracked by Dappradar have connected to blockchain-based games in the first quarter of 2022. Games like Axie Infinity — even with last month’s catastrophic Ronin Bridge hack — Pegaxy, Alien Worlds, and others continue to put up millions of dollars in trading volume in the previous 30 days. 

Despite this, the unsustainability of some P2E games grows more evident in the performance of their tokens. An example is Axie Infinity, whose Smooth Love Potion (SLP) is still at depressing levels, causing further declines in unique wallet addresses that interact with the game for a third straight month.

Now, an offshoot of the P2E model, called move-to-earn (M2E), has been captivating crypto fans lately. The industry’s new buzzword follows the play-to-earn model but centers on health and fitness, where users are rewarded for their physical activity. Genopets and Dustland Runner are just some projects utilizing the M2E model, but STEPN seems to be attracting the most users at present. 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.

 

 

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