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Cardano Records Over 20 Million Transactions Ahead of DEX Launches
The project has done some impressive things in its four years of operation, one of which is barely experiencing any downtime. Most projects in the market have experienced downtime at some point. Most notably the Solana network blackout that saw the network go dark for about 24 hours. Cardano itself has experienced downtime which occurred in April but it lasted for only an hour and was over so quickly that a good portion of the community does not know this happened.
Despite the lack of decentralized exchanges (DEXes) on the blockchain, it has managed to ramp up more activity than leading smart contracts platform Ethereum. Users can mint NFTs on Cardano, which has contributed greatly to this increased network activity. However, given that Ethereum has DEXes and NFT capability, this is an incredible feat for Cardano. Read More
The Impact of Cross-Chain Interoperability in DeFi
Imagine a world where emailing was only possible within isolated platforms – Gmail to Gmail, Yahoo to Yahoo, and so on. Consequently, a Gmail account holder won’t be able to email someone who uses Yahoo and vice versa.
Though hypothetical, this situation underscores the severe limitations originating from the lack of interoperability or the capacity for cross-platform interactions. These concerns aren’t exclusive to communication-oriented platforms but permeate almost every other domain, including finance. As with emails, being unable to transfer funds from accounts in one bank to those in another would be devastating.
Over the years, legacy financial systems have achieved considerable degrees of interoperability and integration. Fintech’s evolution has been a significant catalyst in this regard. Nevertheless, the centralized nature of traditional finance is so fundamentally flawed that interoperability alone cannot bring the much-needed structural change.
Reimagining finance holistically is the need of the hour, which the emergent blockchain-cryptocurrency sector is addressing in many ways. Read More
Here Is When To Expect Cardano-Based Decentralized Exchanges, According to Charles Hoskinson
Cardano (ADA) creator Charles Hoskinson is revealing that decentralized exchanges are just weeks away from arriving on the sixth-largest blockchain by market cap.
Hoskinson says in a tweet that he’s “really proud” of the team behind SundaeSwap, a decentralized trading protocol on Cardano, which will launch its testnet on December 5th. The purpose of a testnet is to identify bugs, if any, as well as potential bottlenecks and inefficiencies prior to the mainnet launch.
According to the Cardano creator and the CEO of Cardano-focused development firm Input Output Hong Kong (IOHK), decentralized exchanges (DEXes) could arrive on the sixth-largest blockchain by market cap during or just before the Christmas holiday.
“Really proud of this team for all their hard work and getting things done so quickly. I don’t imagine they’ll be on the testnet for long. With any luck, looks like Dexes are coming just in time for/around Christmas.” Read More
Blockchains need to move toward standards for interoperable asset transfers
A new emerging economy, which includes blockchain-native tokens, digital tokens, stablecoins, and CBDCs, requires interoperable blockchain standards.
Cross-chain asset transfer has been around for several years. The concept developed almost as soon as multiple blockchains were developed and began to gain adoption. In its initial application, the transfers focused on swaps between the chain’s native assets and tokens, which led later to several decentralized exchanges. While exchange of assets has its utility, pure transfer and movement of assets and other data easily across blockchains without changing their identities are just as important, and is becoming more frequent. Read More
Elrond - The Next Wave Of The Internet
Beniamin’s diverse background in state-of-the-art technology, applied philosophy, engineering, and Blockchain has culminated in creating a company that could very well define the next wave of the internet.
The elegant and sophisticated technology developed by the Elrond team is targeted at developers, the broader public, and enterprises. Developers can create decentralized applications and run smart contracts on the Elrond blockchain network, and the wider public can use Elrond as a user-friendly gateway to the digital economy.
Also, businesses seeking an enterprise solution that can lower transactional costs with benefits such as speed, security, and scalability will find Elrond Blockchain particularly useful. Such as emerging Web 3 companies building ecosystems with their cryptocurrency in the social media and digital marketing sphere that need an internet-scale blockchain to accommodate its massive user-base and e-commerce. Read More
Got crypto? Here are 3 software wallets for storage, staking, and swapping
“Not your keys, not your coins” is short for “Don’t leave your crypto on exchanges.” Here are three soft wallets that are trusted by millions of investors.
Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come.
For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome.
Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities, and airdrops. Read More
Inside the blockchain developer’s mind: Proof-of-work blockchain consensus
Gaining a deeper understanding of a popular — but meanwhile widely misunderstood — concept in blockchain technology: the consensus algorithm.
In this article, I want to leverage my unique perspective to help the reader gain a deeper understanding of a popular concept in blockchain technology, but also one that is woefully misunderstood: the consensus algorithm.
In order to gain a deep understanding of this component of a blockchain, one of the things I always like to do in these articles is begun by taking a step back and looking at the big picture because the consensus algorithm is just one small part of a much larger system.
Blockchains are a game in which players compete to validate transactions by grouping them into blocks that match the blocks of transactions being created by other players. Cryptography is used to hide the data that would allow these people to cheat. A random process is used to distribute digital tokens to people who play by the rules and produce blocks that match the blocks submitted by other people. These blocks are then chained together to create a verifiable record of all the transactions that were ever performed on the network. Read More
Roman Coppola's Decentralized Pictures Is Shaking Up the Film Industry with Crypto
A new nonprofit with backing from the Coppola family aims to create a crypto-powered community of up-and-coming filmmakers.
Making a film is an expensive business. Even the short films aspiring directors use as calling cards can cost tens of thousands of dollars.
Small wonder, then, that it's a challenge for those starting in the industry to get a project off the ground—and that the organizations that provide funding for filmmakers are swamped with applications.
"You need to move to Hollywood, you need to get representation, you need to get actors," Mike Musante, co-founder of crypto-powered filmmaking platform Decentralized Pictures, told Decrypt. "To get actors, you need to know people. Most places don't take unsolicited submissions, so to get people to just read your project, even if it's great, is exceedingly difficult—again, unless you know people or you have some special inside information."
As VP of Production and Acquisitions at American Zoetrope, the production company founded by "The Godfather" director Francis Ford Coppola, Musante is intimately familiar with the obstacles that the industry throws in the path of emerging filmmakers. Read More
Lightning Speed: Eight Mind-blowing Facts About The Lightning Network
Welcome to “Lightning Speed,” a new section in which NewsBTC will explore the possibilities that Bitcoin’s Lightning Network opens. In this first edition, we will focus on Peter St Onge’s “The Lightning Network is About to Change the World” article. According to his bio, the academic “holds a Ph.D. in Economics from George Mason University, and a B.A. in Economics and Political Science from McGill University.” Make of that what you will.
St Onge was at the Free State Project’s Porcfest in New Hampshire when he had an epiphany. “The Lightning Network is now moving Bitcoin exponentially closer to becoming a true universal medium of exchange that is controlled by the people, not by governments.” That’s right. Bitcoin already won the store of value race, but, with the Lightning Network, it becomes the apex medium of exchange. What does this mean for the world? 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.