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Taming And Managing The Financial Risks Of The “Wild West”
Over the last few years, decentralized finance (DeFi) has skyrocketed in popularity and caught the attention of many; bridging the transition of users from Web2 to Web3.
According to research done by Fortune Business Insights, the global cryptocurrency market experienced growth of 10% in 2020 (826.6 million USD), in comparison to the year-on-year growth between the years 2017 and 2019. It is estimated that the market will grow from a total of 910.3 million USD in 2021 to 1902.5 million USD in 2028 at a compound annual growth rate (CAGR) of 11.1% in that period of time.
Evidently, DeFi is taking the world by storm and it is not slowing down anytime soon. With more and more people joining the space and trading cryptocurrencies, there has been an increased number of traders dabbling in decentralized exchanges (DEXs) such as Uniswap, PancakeSwap, and Swapsicle.
DEXs are undoubtedly the future of DeFi as they bring a whole new aspect to the industry to facilitate the trading of cryptocurrencies in order to create liquidity. In comparison to centralized exchanges (CEXs), DEXs offer enhanced privacy, personal monetary sovereignty, and even added security. However, a DEX also comes with its fair share of security risks which can be daunting to many, further broadening the gap and slowing down the mass adoption of DEX users. Read More
Web 3 Payment Solution, PIP Button Launches To Enhance Simple Blockchain Payments For Content Creators
The new improved payment solution will leverage blockchain technology to offer users one of the simplest and cheapest payment systems in websites and personal media.
Solana-based payment solution, PIP Button announced its launch introducing one of the simplest and most effective ways for users to monetize their content and receive payments via blockchain technology. Announced Monday, June 20, 2022, the payment solution will require no coding to integrate into websites and third-party apps, helping everyone integrate blockchain payment systems and monetize content frictionlessly.
“Compared to legacy payment systems that demand complex knowledge and coding experience to attach, this simple button made with just a few clicks will provide the gateway to the innovative payment infrastructure without any obstacles,” a team statement from PIP Button reads.
The payment solution leverages blockchain technology to ease payment processes for content creators while offering a privacy-enhanced and secure solution that enables millions of users to pay for creative content. The PIP Button payment solution aims to transform the content creator economy by offering a faster, cheaper, and more efficient payment system by integrating major blockchains. Creators and service owners can incorporate the PIP button into their website - or third-party platform where they share creations - and unlock an extra revenue stream. Read More
Ethereum testnet Beacon Chain launched and ready for trial merge
The Sepolia testnet is the next in line after Ropsten to undergo a merge trial run since its Beacon Chain is now live and ready to give developers valuable information leading up to the real thing.
The Sepolia testnet Beacon Chain has gone live, setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights.
Upon merging with its dedicated Beacon Chain, the Sepolia testnet will begin reaching consensus using proof-of-stake (PoS) rather than proof-of-work (PoW), which will provide data on what may happen when the Ethereum mainnet performs its merge.
The exact date of the Sepolia merge has not been determined.
Testnet merges are essential for Ethereum developers and independent project developers using the Ethereum network to understand what they can expect when the actual merge takes place. Just like on the testnets, the Ethereum mainnet merge will see the entire network transition to PoS consensus and should reduce the energy consumption of Ethereum by 99.9%. Read More
UK Scraps Plan to Monitor Unhosted Digital Wallets
The EU Parliament voted to approve a similar measure about three months ago.
The United Kingdom, in stark contrast to a proposal approved in March by the European Union, will not require senders of crypto assets to collect information about recipients who use unhosted wallet addresses.
“Instead of requiring the collection of beneficiary and originator information for all unhosted wallet transfers, crypto-asset businesses will only be expected to collect this information for transactions identified as posing an elevated risk of illicit finance,” according to a document published by Treasury. The decision came after soliciting feedback from a variety of respondents, including academics and industry experts.
The news perhaps means a sigh of relief for the privacy-focused wing of the crypto community, many of whom spoke out against the EU’s measure.
Coinbase CEO Brian Armstrong, at the time, called it “anti-innovation, anti-privacy, and anti-law enforcement,” while also pointing out the cumbersome requirements placed on individuals. 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
‘It’s Not a Game’: How Versity Is Set To Revolutionize Real Estate Using The Metaverse
No mere virtual land platform, Versity is building an ‘immersive mirror of the real world’ to streamline the world of bricks-and-mortar real estate.
The first thing that might spring to mind when you hear the words “metaverse” and “real estate” is digital land on platforms like Decentraland, Cryptovoxels, or The Sandbox. But one new platform, Versity, is aiming to shake up real-world bricks and mortar using the digital toolkit of the metaverse.
Versity, which this week launched its initial coin offering (ICO), is an “immersive mirror of the real world,” said Claude Li, CEO of Agences de Papa, the largest independent real estate company in France and architect of the idea behind the platform.
Every property in Versity correlates to a physical apartment or home in the real world. “This is a tool to help make real business more efficient,” Li told Decrypt. “It’s not a game.” Read More
PlayStation, Google Vets to Co-Create New Franchises Via Solana DAOs
Web3 startup Luda is focused on “create-to-own” experiences through new IP shaped by DAO communities, starting with Neo Fairies.
Luda is a Web3 startup co-founded by former PlayStation and Google AI leads.
The firm plans to launch franchises that can be owned and shaped by Solana DAO communities, starting with Neo Fairies.
For nearly two decades in total, Shannon Studstill was part of the PlayStation juggernaut as a co-founder of Sony’s Santa Monica Studio. She was lead producer on 2005’s smash “God of War” and worked on numerous other titles, and later served as executive producer on 2018’s acclaimed “God of War” reboot.
But after all that time overseeing ever-larger development teams working on increasingly massive AAA video games—plus a brief stint on Google’s Stadia team—she now aims to work with thousands or potentially millions of people to develop new entertainment franchises via decentralized autonomous organizations (DAOs) on Solana.
“What if we turn [IP creation] on its head a little bit and allow the community to own that and build on it,” Studstill told Decrypt, “and find the path that they would like to take, with some support by visionaries and so forth?” Read More
Cardano Founder Charles Hoskinson Comments on XRP Lawsuit, Calls It ‘Regulation Through Enforcement’
Cardano (ADA) founder Charles Hoskinson doesn’t think highly of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.
The SEC sued Ripple in late 2020, alleging the payments firm sold XRP as an unregistered security.
In a new interview with BitBoy Crypto, Hoskinson says regulators shouldn’t operate on a case-by-case basis, which he says makes everybody “live in fear.”
“It’s just an example of what happens when you do regulation through enforcement instead of legislation… You should have clear, understandable standards. And there should be a clear process for people to adhere and comply with those standards. For example, with the Ethereum crowd sale in Switzerland, we just asked the Swiss government, and after a few weeks of haggling, they told us what to do, and we had a thing, and it was over.
The SEC tends not to issue no-action letters in a meaningful way for the industry. So there’s no real good means of interfacing and integrating, and in the absence of that, people have different opinions, and there are winners and losers, and sometimes people get away with crazy stuff.” Read More
Blockchain isn’t as decentralized as you think: Defense agency report
The report published Tuesday highlights several scenarios in which various actors can garner excessive, centralized control of a blockchain system.
Distributed ledger technology (DLT) and blockchains including Bitcoin and Ethereum may be more vulnerable to centralization risks than initially thought, according to Trail of Bits.
The security firm on Tuesday released its report titled “Are Blockchains Decentralized?” which was commissioned by the United States government’s Defense Advanced Research Projects Agency (DARPA).
The report aims to investigate whether blockchains like Bitcoin and Ethereum are truly decentralized, though the report appeared to focus largely on Bitcoin.
Among its key findings, the security firm found that outdated Bitcoin nodes, unencrypted blockchain mining pools, and a majority of unencrypted Bitcoin network traffic traversing over only a limited number of ISPs could leave room for various actors to garner excessive and centralized control over the network. 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.
