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Major European music festival will allow fans to buy tickets using EGLD
“Blockchain technology has immense potential for large gatherings of digital natives who for a brief period of time become part of a hyperlocal economy,” said Beniamin Mincu.
Following the rollout of the ticket purchases with EGLD for Untold, Elrond CEO Beniamin Mincu said the project would be exploring “a festival economy running on semi-fungible tokens” as well as artists dropping nonfungible tokens, or NFTs, to fans from the stage. However, Untold attendees will also be able to accept NFTs from the festival “at a later time.”
“Blockchain technology has immense potential for large gatherings of digital natives who for a brief period of time become part of a hyperlocal economy,” said Mincu. Read More
Could Ethereum Rival Microsoft’s Market Cap? Coin Bureau Lists 5 Reasons To Be Bullish on ETH
Guy, the pseudonymous host of Coin Bureau is listing five big reasons to be bullish on ETH, positing whether Ethereum could eventually become as big as tech giant Microsoft.
In a new video, the widely followed analyst names Ethereum’s recent EIP-1559 upgrade, which puts pressure on the supply of ETH by burning a portion of the gas fees rather than giving them to miners, as one important bullish catalyst. Read More
Staking will eat proof-of-work for breakfast — Here’s why
The market for staking has accelerated rapidly recently, and a shift to PoS will ensure that the blockchain ecosystem is more resilient.
In early July, JPMorgan released a report in which two of the bank’s analysts projected that the staking industry would be worth $40 billion in rewards by 2025. The report anticipates that once the Ethereum 2.0 network completes its transition from proof-of-work (PoW) to proof-of-stake (PoS,) payouts will more than double, up to $20 billion from the current $9 billion. Within the next four years, it will double again.
With the rapid rise of staking over the last few years, it’s hardly surprising that traditional finance analysts are starting to take note. While the JPMorgan analysts are correct that the market will continue to grow, however, even $40 billion could be a conservative estimate. Read More
Emerging economies dominate Chainalysis’ 2021 Global Crypto Adoption Index
The report indicates that the adoption of crypto assets jumped 880% worldwide, with peer-to-peer platforms driving cryptocurrency usage in emerging economies.
Vietnam, India, and Pakistan are leading the world in terms of cryptocurrency adoption, underscoring the resilience of peer-to-peer monetary systems in emerging economies.
Chainalysis’ 2021 Global Crypto Adoption Index evaluated 154 countries based on three key metrics: on-chain cryptocurrency value received, on-chain retail value transferred and peer-to-peer exchange trade volume. Each metric was weighted by the purchasing power parity. Read More
Decentralized Storage Project Arweave Up 66% In A Week Amid Solana's NFT Summer
This summer’s NFT boom may be a key reason behind a spike in Arweave, a decentralized storage project underpinning several key marketplaces.
Arweave’s native AR token has mounted an impressive rally over the past few hours, rising from $20.24 to its current price of $24.78, according to Nomics.
Even more impressive has been the token’s 66% rise over the past week.
Part of this run can be attributed to the growing non-fungible token (NFT) ecosystem on the Solana blockchain too. An NFT is a blockchain-based digital certificate that gives the holder unique ownership rights over the content in that NFT, be it art, music, or concert tickets. Read More
Blockchain streaming service Audius partners with TikTok
Blockchain-based music streaming platform Audius has partnered with TikTok, becoming the first streaming service to sign a deal with the social media app.
The problem Audius hopes to solve is the small cut of music income that goes to artists. It’s estimated that musicians earn just 12% of the revenues, with a gross music income of $23 billion globally in 2020. Audius aims for artists to be paid directly every time a song is streamed. However, the functionality has not yet been enabled. As one Reddit commentator observed, Audius would first need to prevent someone from earning money by uploading pirated music. Read More
Decentralization Empowering People
We live in an increasingly interconnected world with 4.66 billion people connected via the internet. We pay each other, share data, and communicate with each other within seconds. This is all seemingly wonderful, but the truth is we are not connected with each other. Instead, we are connected to centralized multinational companies and data merchants we are forced to trust with everything we do.
It’s a scary reality that most people are living in today; however, decentralization is the future. The transition from centralized platforms to decentralized ones is going to be the most profound and disruptive change we’ll ever see in our lives. Read More
Avalanche Rush to give out more than 180M in DeFi incentives
The multi-stage program will start with $27M tokens allocated for the Aave and Curve protocols, with additional incentives reserved for Avalanche native projects.
Smart contract platform Avalanche has announced a $180 million liquidity mining incentive program, named Avalanche Rush. The program aims to encourage more applications and tokens to move to Avalanche’s decentralized finance (DeFi) platform, according to the release. Read More
Robinhood Pledges Crypto Wallets and 'More Coins'—but Won't Say When
Robinhood's crypto ambitions became clearer on Wednesday, though the timing remains a mystery.
Robinhood's plans for crypto include listing more assets, providing "interest and rewards" to users, and adding a wallet that will let users move tokens on and off the platform. The company shared those details during a Wednesday afternoon earnings call, but it offered few specifics about when such products might appear.
"I know there's been a ton of enthusiasm from the crypto community and the Dogecoin community in particular in getting access to wallets," assured Robinhood CEO Vlad Tenev, who added the company was "excited to roll this out to customers." Read More
Dex Aggregator 1inch to Utilize Ethereum Scaling Solution Optimism
On August 17, the decentralized exchange (dex) aggregator 1inch announced the platform will leverage the Layer 2 solution called optimistic rollups provided by the project Optimism. The collaboration with Optimism aims to “substantially increase transaction speeds and lower gas fees for 1inch users.” Read More
Cardano’s ADA token becomes third-largest cryptocurrency
ADA, Cardano’s native token, has surpassed stablecoin Tether to become the third-largest cryptocurrency based on market cap.
According to cryptocurrency tracker CoinGecko, the ADA token now has a market cap of $64.9 billion (£47.2bn) compared to recently overtaken Tether which sits just shy at $64.6 bn (£46.9bn).
Perhaps more notably, the Cardano coin has a seven-day growth rate of 20.8%, putting it leaps and bounds ahead of Tether’s 0.7% growth or top dog Bitcoin’s -0.6% decrease.
The renewal of optimism in the Cardano system comes as its developers – IOHK – plan to allow smart contract usage by September 12 this year. Read More
Silicon Capital partners with Kinesis to enable Gold and Silver transactions in Africa
Silicon Capital Global, a payment Fintech company based in South Africa, has started collaborative development with Kinesis Money, a monetary system based on allocated digital gold and silver.
Silicon Capital is integrating Kinesis digital gold and silver into the SiliconEnterprise TM mobile wallet and core banking engine to provide Africa with a stable and competitive mobile payment network. Enabling individuals and businesses to transact using KAU (Kinesis gold) and KAG (Kinesis silver) all within SiliconEnterpriseTM multi-tenant Wallet-As-A-Service cloud. 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 other advice.
