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175-Year-Old News Cooperative the Associated Press Plans to Launch NFT Marketplace
The 175-year-old news cooperative the Associated Press revealed that the organization is launching an NFT marketplace using the Polygon blockchain network. According to the AP announcement, the NFT market built by Xooa will allow NFT collectors to collect the news agency’s iconic photojournalism. AP’s newly crafted Polygon-based NFT market will launch on January 31, 2022.
Dwayne Desaulniers, AP director of blockchain and data licensing, explained that the non-profit news cooperative is thrilled to showcase the organization’s Pulitzer Prize-winning images from current and former AP photojournalists. “Each NFT will include a rich set of original metadata offering collectors awareness of the time, date, location, equipment, and technical settings used for the shot,” the AP press release notes.
“For 175 years AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today,” Desaulniers said in a statement on Monday. “With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.” Read More
Komodo to introduce 12 blockchain protocols in the next version of AtomicDEX
The AtomicDEX API claims to be compatible with 99% of cryptocurrencies in existence.
Komodo, a multichain architecture network, announced the introduction of 12 protocols on its non-custodial multi-coin software wallet and atomic swap-powered decentralized exchange AtomicDEX. The 12 protocols consist of Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum, and Optimism, with the latter two being wallet-only. After the upgrade, users will be able to swap Avalanche tokens to Polygon, Ethereum to Binance Smart Chain (BSC), etc., and vice versa.
Unlike cross-chain functionality, multi-chain enables users to access their crypto without the use of wrapped or proxy tokens, with potentially better security results. Kadan Stadelmann, chief technology officer of Komodo, commented:
"Adding these protocols like Polygon and Avalanche adds a whole new level of accessibility for users to make quicker and smoother cross-chain and cross-protocol transactions while still keeping custody of their keys." Read More
The Importance Of Security In A Decentralised Environment
Decentralized finance utilizes blockchain technology, the building block for the cryptocurrency ecosystem. A blockchain is a distributed and secured database where all the transactions related to digital currencies are recorded. Blockchain technology is an encrypted ledger where it is nearly impossible to edit and manipulate data.
Decentralized finance is utilized to create a digital financial system for digital currency transactions and plays a vital role in the growth of the entire cryptocurrency system. It is crucial to ensure the security of the decentralized environment as it houses users’ assets and records of all transactions.
As decentralized finance utilizes blockchain technology, it is inherently secure. Moreover, DeFi projects deploy several security protocols and perform regular checks and audits to ensure the safety of its users. Decentralized Autonomous Organisations or DAOs also play a crucial role in ensuring the security of the users by distributing the control to the users and community. One of the exemplary DAO that ensures the safety of its users is Asgard DAO. Read More
Solana could become the ‘Visa of crypto’: Bank of America
The Bank of America strategist stated that Solana is set to take a slice of Ethereum’s market share thanks to its low transaction fees, scalability, and ease of use.
Bank of America digital asset strategist Alkesh Shah has predicted that Ethereum competitor Solana could become the “Visa of the digital asset ecosystem” in a Tuesday research note.
The Solana network launched in 2020, and its native token, SOL, has since grown into the fifth-largest cryptocurrency with a market capitalization of $47 billion. An order of magnitude faster than Ethereum, it has been used to settle over 50 billion transactions and mint over 5.7 million nonfungible tokens (NFT).
Critics, however, argue its speed comes at the cost of decentralization and reliability, but Shah thinks the benefits outweigh the drawbacks:
“Its ability to provide high throughput, low cost and ease of use creates a blockchain optimized for consumer use cases like micropayments, DeFi, NFTs, decentralized networks (Web3) and gaming.” Read More
Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind.
Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Premium Upgrade.
The many domains Markethive has and its autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agenda. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.
In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world. Read More
Cash App Set To Bring Bitcoin Lightning Network To Its 36 Million Users
The Lightning Network has been integrated into Cash App, a peer-to-peer payment service operated by Block, previously Square Inc.
With its layer-2 solution, the Lightning Network provides tremendous scalability and cheap transaction costs.
It operates by diverting transactions from the main chain and placing them into peer-to-peer “payment channels” between two parties, such as a buyer and a coffee shop. Once the channel is created, it can handle an endless number of transactions in real-time.
The payer must first lock Bitcoin into the network to open a payment channel. After the recipient has been locked, they can invoice amounts based on the cost of the items and services sold.
Fees are a mix of routing fees for sending payment information between Lightning Nodes and Bitcoin transaction fees for opening and closing channels. These, however, are still far less than direct main chain transactions. Read More
NFT Platform LÜM Cooperates with 25 World-renowned Musicians to Launch the "Access Pass" NFT
These musicians can build their own communities and launch their own access passes on this platform for crowdfunding projects such as releasing new albums.
Founded in: 2018, LÜM will introduce blockchain technology and NFTs to an entire generation of artists and fans.
For which specific 25 artists remain unknown. Still, the LÜM platform aims to cooperate with 100 top musicians in 2022, and the longer-term goal will be to collaborate with tens of thousands of artists to create a platform for fans and musicians—a revolutionary new way to combine music and blockchain.
LÜM posts on its official Twitter that:
“When designing our First Fan Access Passes, every detail was taken into account. We wanted to create something that felt exclusive, collectible, but looked & felt functional. Something fans will cherish but could expect to use IRL and in the future music metaverse. " Read More
Solana-based platform provides higher APY for investors with DeFi protocols for leveraged yield farming
To achieve financial freedom sooner, investors are now seeking out higher-yield DeFi opportunities for passive income.
Many have recognized that on the path to achieving real and long-lasting financial freedom is earning passive income, a way to make an investor's wealth work for them. The key is that as soon as an income stream can supplement your income, users can retire earlier and have more time to explore their passions.
Financial freedom used to mostly include those who have come to retirement age and have worked stable jobs with a steady income, as they slowly began saving and putting their wealth away in long-term investments to grow over 40 or 50 years. While this model is not yet obsolete, the DeFi world has since introduced alternative ways to achieve the same outcome, financial freedom. At perhaps, what might be a fraction of the time.
Interest rates earned in a traditional savings account have since dwindled, making the concept of decentralized finance or "DeFi" ever more appealing. By eliminating intermediaries and providing more profitable opportunities for investors, the demand for leverage growth and associated annual percentage yield (APY) has increased as well. The result is that by locking funds up in a smart contract instead of the bank, any user can earn a passive income of more than the standard 0.5% offered by the bank. Read More
This Is When Cardano Will Match Solana and Other Platforms in Terms of Scaling, According to Charles Hoskinson
Cardano (ADA) Founder Charles Hoskinson envisions completing much of his personal outline for the project in 2022.
In a new interview with Crypto Capital Venture, the CEO of Input Output Hong Kong (IOHK) was asked what Cardano developments would be finished by 2022.
Replies Hoskinson,
“I think everything will get done that I outlined – the sidechains, the pipelining, the import endorsers, the library optimization, Hydra and Mithril.
Now there are degrees and flavors like there’ll be more Hydra stuff to do, but at least you’ll be able to use Hydra for something like microtransactions.
Mithril will be probably completely finished because it’s a finite scope of work, and we had to bring on some sophisticated contractors for it.” 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.
