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What is a Decentralized Autonomous Organization (DAO)? Everything You Need to Know
Decentralized Autonomous Organizations (DAOs) are one of the most commonly discussed topics in crypto, but what are they really? In this guide, we take an in-depth look at DAOs.
Decentralized Autonomous Organizations (DAOs) are a form of governance systems powered by their community. They can be independent of third parties, and government corporations, and they also differ a lot in their business and organizational model from traditional organizations.
What is a DAO?
The DAO Hack of 2016: The First DAO
How Do DAOs Work?
Creating a DAO
Regulatory Laws and Legal Structure of DAOs
Popular DAOs
Benefits & Limitations of DAOs
The Future of DAOs. Read More
PayPal forms advisory council of leading experts on blockchain and crypto
Payments giant PayPal has formed a cross-disciplinary team of industry experts as part of its new advisory council on blockchain, crypto, and digital currencies.
The move comes as part of the company’s ambitions to lead the way towards a more affordable and efficient digital financial system through blockchain technologies.
Made up of six experts from across the cryptocurrency, technology, and economics industries, the Blockchain, Crypto, and Digital Currencies (BCDC) council will help PayPal to refine current and design future products.
The team is made up of Fortress Investment Group co-CEO Peter Briger, Georgetown University Law Center professor Chris Brummer, Weizmann Institute of Science professor Shafi Goldwasser, former Commodity Futures Trading Commission chair Timothy Massad, MIT Sloan School of Management finance professor Antoinette Schoar, and MIT Digital Currency Initiative director Neha Narula.
Jose Fernandez da Ponte, PayPal’s senior vice president and general manager for Blockchain, Crypto, and Digital Currencies, said: “We believe it is crucial to engage with the world’s best leaders to better understand the industry’s most compelling opportunities and complex challenges.” Read More
This sleek SUV comes with an NFT. Could it be the future of car ownership?
The company’s newest vehicle comes linked to its own blockchain token, which can record details of the car’s life cycle.
The web of NFT technology continues to stretch far beyond art, with the world of auto vehicles as the latest to be ensnared. Italian carmaker Alfa Romeo today unveiled its new Tonale SUV—and it comes equipped with its own blockchain token, in what the company claims is a revolutionary first for the industry.
Alfa Romeo revealed its new tech Tuesday and has yet to put any of it into practice. And blockchain certificates can be added only by Alfa Romeo dealers, meaning only car services within the network are recorded. However, one could argue that its concept, in theory, stays true to the blockchain’s original purpose by giving more power to the people it serves. (Other automakers that have dipped toes into NFT waters include mostly luxury collectibles from the likes of Mercedes-Benz, Rolls-Royce, and Lamborghini—whose tokens came with physical carbon fibers from the International Space Station.) Read More
Decentralized Blockchain Solution, FLAG Network Set to be Launched
FLAG Network, a decentralized protocol, and ecosystem designed specifically for building and connecting Ethereum-compatible blockchain systems, has announced the launch of its project. Created by a team of decentralized developers, FLAG Network assembles a plethora of solutions on the Ethereum network, thus supporting a multiple chain ecosystem.
As a protocol in the ever-evolving crypto space, FLAG Network was designed to address some of the difficulties associated with blockchain usage and adoption—high gas fees, the outrageous cost of running apps, and slow throughput. Albeit similar to other solutions like Polkadot, Cosmos, Avalanche, et al, FLAG Network, according to the development team, is advantageous in three pertinent yet often overlooked areas; simplifies the usage of Ethereum’s network effects, provides a safer environment, and opens up a more stable and powerful world to users. Read More
Innovations that will change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.
Unlike the social media giants, which only have one primary news feed algorithmically set by the central authorities, Markethive is integrating four news feeds to accommodate the multi-functional platform within the Markethive ecosystem.
The individual feeds are General, Video, Blogging, and Content Curation, and they are all accessible from the main page and can be algorithmically set by the individual user. The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof.
Social + Video + Blogging + Marketing + Curation + Broadcasting + Affiliate + Gamification + Cottage Businesses = Markethive: A Powerful Blockchain-driven Ecosystem
There is nothing out there like Markethive. We are an Inbound Marketing (automated marketing platform) like Marketo, Paragon, and even the wannabee MLM Onpassive platform. We are like Youtube, Instagram, LinkedIn, Twitter, etc., but will be superior to these legacy Web 2 media when we release all the aspects and layout of Markethive 2.0.
We have a dynamic social media interface and growing community with a strong collaborative ethos, with SaaS and broadcasting capabilities already operational. We are not waiting for the launch to access the services; they are already there for you to use to help you facilitate your business and increase your reach and following.
Markethive is enhancing and bringing the platform into the future internet with our new technology and interfaces, but still in keeping with the human touch. Read More
The team behind the world's first hardware wallet says it's still thriving after 8 years
As long as there's a recovery seed written down, a PIN and passphrase installed, it's theoretically impossible to hack the Trezor One, which debuted in 2014.
Like all things, Trezor, a household name in the crypto community with over 1 million units sold, came from humble beginnings. The idea all started out in 2011 after a Bitcoin (BTC) conference in Prague, Czechia — which, by the way, was just voted the most beautiful city in the world in a Time Out magazine survey. Two crypto enthusiasts, Pavol "Stick" Rusnák and Marek "Slush" Palatinus, envisioned a small, single-purpose computer that would securely store users' Bitcoin private keys.
In 2013, the two founded SatoshiLabs. The following year, the first-ever Trezor wallet — Trezor One — launched. Then came the Trezor Model T, which added a touchscreen to the device. Both are still found on the market worldwide, with their firmware patched each month or so. With the invention of seed recovery and passphrase protection, Trezor set the norm for the industry in terms of hardware wallet security.
During an exclusive interview with Cointelegraph, Kristýna Mazánková, head of PR at SatoshiLabs, and Josef Tětek, Trezor's brand ambassador, discusses how Trezor still remains true to its goal of privacy and security after all these years. When asked about the vulnerability of their customers' data, they said:
"We don't have any data on our customers [in our servers] because every 90 days, we wipe whatever is stored. So that's something that is super important to us because we understand that everything is theoretically hackable." Read More
Aave launches Web3 social media platform, Lens Protocol
Aave will empower content creators to "own their digital roots" and calls for a more sustainable smart contracts-based social experience.
Aave (AAVE), the decentralized finance lending platform, launched the Lens Protocol ecosystem on the Polygon (MATIC) blockchain as their way to challenge centralized social media platforms like Twitter or Facebook. What started with an open letter to garner support around the idea that content creators should own and control their digital identities, led to developing a Web3-native social network powered by nonfungible tokens (NFTs).
In a Twitter Spaces conversation the company hosted this week, Stani Kulechov, CEO and founder of Aave, described the mission behind Lens Protocol.
"We wanted to build a social media protocol, or essentially a social graph, and make those profiles on-chain, following the relationships on-chain and creating a permissionless way to distribute content between a creator and the audience." Read More
Massive Outflows and Burnt Ether Stimulate Ethereum Scarcity to Continue
Since the London Hardfork or EIP-1559 upgrade went live in August 2021, the supply of Ethereum continues to be depleted based on the burning mechanism incorporated.
The scarcity on the Ethereum (ETH) network continues going through the roof based on massive outflows from crypto exchanges. Data analytic firm IntoTheBlock confirmed:
“In just 38 days of 2022, here are a few key data points on how the supply available of Ethereum to buy is decreasing. - 453,890 ETH in outflows from exchanges (decreasing the exchange's reserves). - 470,798 ETH has been burned.”
Scarcity was introduced every time Ether was burnt after being used in transactions. This mechanism triggers the narrative of Ethereum being deflationary because its value is expected to continue increasing with time on the foundation of slashed supply.
On the other hand, massive exchange outflows are bullish because they signify a holding culture, whereby coins are transferred to cold storage and digital wallets, making liquidation difficult. Read More
Cointelegraph Research: Valuing a crypto payment token
A new report valuing payment tokens estimates the market size of each token’s relevant use cases based on the rate of actual adoption.
For payment tokens such as Alchemy Pay’s ACH, there may not necessarily be a world where cryptocurrencies are widely accepted as a medium of exchange for everyday transactions, such as buying a gallon of milk in the grocery store, without fiat. This is because two parallel economies exist, and bridges between fiat and cryptocurrency are needed for the time being.
But how does one price such a token with payments as its bedrock? Is there a way to arrive at a fair valuation for ACH, whose growing dominance in the payments scene is evident in the number of payment channels that integrate with its technology? Or for any other payment-focused cryptocurrencies, for that matter? Cointelegraph Research dives deeper into this subject in its most recent report.
Alchemy Pay is a Singapore-based provider of cryptocurrency payment systems and solutions. Its technology allows for the use of cryptocurrencies to pay for a product or service. Payments made in crypto are then converted for the merchant into fiat currency in real-time for settlement. The ACH token is not the actual medium of exchange in this equation, but it’s crucial in facilitating fiat and cryptocurrency transactions. 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.
