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The rise of confidential blockchains
Cryptoeconomics is the study of economic interaction within a potentially adversarial environment. The development of cryptoeconomics has dramatically changed how value is transferred globally through decentralized peer-to-peer networks. Today, two entities can transfer value globally, in close to real-time, without even having banking relationships. Simple value transfer, manifest in payments made using digital cryptocurrencies, is only the beginning of the cryptoeconomics revolution. A variety of centralized and decentralized exchanges, trading desks, and lending platforms exist, and these platforms provide financial services to users of cryptocurrencies.
It has been interesting to observe how different aspects of computer science have enabled the development of crypto-economic problems. Technologies that would have otherwise remained hidden in academic journals have been given the opportunity to impact the way electronic value is created and transferred around the world. Read More
How Blockchain Will Revolutionize Payments of the Future
Blockchain surely has a fair share when it comes to transforming and revolutionizing the future of digital payments. Let’s quickly walk through some avenues with the most impact.
1. Secure Payments
Digital security has always been an issue for organizations and the consumer. However, numerous frauds and hacks have made stakeholders realize the importance of easy payments and security.
Transparency in the digital realm, especially with payments, is imperative. Rapid transactions are the need of the hour.
Blockchain, in this regard, proposes the solution for such underlying issues.
Blockchain is composed of unlimited immutable blocks built using safe and secure procedures that restrict unauthorized change without alerting or altering the entire chain.
The technology can be used to create processes that depict transparency and boost the overall efficiency of financial transactions.
Blockchain technology can truly revolutionize our existing financial ecosystem by hitting various leakage points. Moreover, the technology works on a no-middleman method that excludes the need for a primary regulator.
Blockchain offers individuals, organizations, and institutions complete freedom of handling their wealth in whatever way they deem necessary. Read More
Does the future of DeFi still belong to the Ethereum blockchain?
Ethereum faces heavy competition from up-and-coming blockchains. Cointelegraph Research asks: Which can vie for the top blockchain spot?
Ethereum saw unprecedented adoption in 2021, peaking at 800,000 daily active users in November. It has real-life adoption use cases, with a total value locked of over $150 billion across DeFi applications running on the blockchain in 2021. Some of the services offered by decentralized applications on Ethereum include lending, derivatives, asset management, stablecoins, trading, and insurance. However, due to the increasing adoption of the blockchain over the past several years, its popularity is also its curse.
The more the network is used, the more congested it gets and the higher the transaction costs, also known as gas fees, subsequently become. These fees are there to help incentivize the network’s miners to engage with the proof-of-work consensus mechanism it utilizes. There is an answer to the congestion and scaling issue, and that is Ethereum’s switch to proof-of-stake and other upgrades in its full transition to what is known colloquially as Ethereum 2.0. However, delays in going live with the various stages of Eth2’s full rollout, combined with the rising popularity of other smart contract blockchains, could knock the crown off of Ethereum’s head. Read More
Crypto mining’s cost: How has hardware availability changed the industry?
Is accessible mining possible? How easy is it to buy mining equipment, and how can this happen affordably?
Cryptocurrency mining has been and remains an attractive endeavor not only for fans of alternative financial instruments but also for those serious about investing.
When deciding whether to start mining, potential miners keep several well-known factors in mind: equipment and electricity costs, suitable climate, and favorable legislation in the country of operation. At least, that was the case until recently.
In 2022, the situation changed and became more complicated. A few years ago, it was possible to mine cryptocurrencies by purchasing a graphics processing unit (GPU), reading a guide on how to construct a rig and simply mining coins. Such income was attractive for many online entrepreneurs, and soon new miners flooded the global market.
Yet over time, the complexity of mining has increased and led to the emergence of special equipment for crypto mining — i.e., application-specific integrated circuits (ASICs), which can mine far faster and more efficiently than GPUs. As a result, problems of a different nature have arisen such as green energy concerns, qualified personnel, and equipment availability. Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all.
Solana and its technology look favorable as the conduit to assist in making Markethive the go-to for an alternative and autonomous, censorship-free platform providing all components of social media, marketing, broadcasting, publishing, eCommerce, and business facilitation. A cottage industry economy for people from all walks of life to thrive. Read More
Our Happy Company's NFT Platform OurSong Integrates with Circle
Web3 infrastructure platform Our Happy Company launched its social NFT platform OurSong and integrated with the issuer of stablecoin USD Coin (USDC) Circle.
Our Happy Company solved it by using Circle's payment The solution as it aims to simplify the process of buying and selling NFTs for creators and consumers.
The company was founded by musician John Legend and technology entrepreneurs in 2018.
Chris Lin, CEO of Our Happy Company, expressed the hope that through the infrastructure of financial technology company Circle, the OurSong platform can be as simple and straightforward as buying a digital album or placing a delivery order to buy or sell NFTs.
He added that:
“We want to democratize NFTs for the masses, and that starts with one of the biggest challenges for first-time users: overcoming a complicated process to buy your first digital collectible,” Read More
Elrond Strengthens Its Metaverse Push With Itheum’s Data Avatars
There are many aspects of the Metaverse to consider when interacting with locations, avatars, and other facets. A data pipeline for Elrond's Metaverse is in development courtesy of Itheum. This new solution will positively impact the metadata for individual avatars and how it affects users.
Elrond Has A Strong Metaverse Push
People who kept close tabs on metaverse developments will know Elrond makes a big play in this space. Its network lends itself well to exploring such high-demand concepts due to high throughput and low fees. Moreover, Elrond's partnership with Holoride - an Audi spinoff - is a crucial indicator of what will happen in the years to come.
Holoride brings an in-vehicle mixed reality passenger entertainment technology to users. With the help of blockchain technology and non-fungible tokens, content creators and car manufacturers can tap into new opportunities. Additionally, the choice for Elrond brings more transparency to the ecosystem and introduces incentives for developers to create more platform content. The partnership with Holoride puts Elrond at the front and center amongst Layer-1 blockchains in the Metaverse space today. Read More
Romanian central bank approves blockchain firm Elrond to buy Twispay
The National Bank of Romania has greenlighted an acquisition in the blockchain industry, authorizing the blockchain startup Elrond to acquire a payment processing platform.
Elrond, a blockchain firm focused on distributed applications, received approval to purchase the electronic money institution Capital Financial Services, which acts under the brand Twispay, according to an announcement released on Thursday.
Twispay provides an international payment solution supporting multiple fiat currencies and integrating various payment methods. The firm is a principal member of Visa and Mastercard, meaning that it directly participates in issuing cards and is allowed to acquire merchants.
The firm is also licensed to provide payment services and to issue electronic money in accordance with the authorization from the National Bank of Romania and can operate across the European Economic Area.
By acquiring Twispay, Elrond is making a strategic move to establish itself as a bridge between traditional finance and the cryptocurrency industry. The acquisition also puts Elrond in a strategic position to offer an infrastructure for faster and cheaper payment solutions. Read More
LimeWire makes a comeback after a decade with an NFT marketplace
The new owners of LimeWire aim to "make things right" with the NFT marketplace and promises to give music artists freedom over their content.
Limewire, a popular peer-to-peer file-sharing website from the early 2000s that went defunct in 2010, is making a reentry in the market with a digital collectible marketplace at the hands of its new owners.
In an official announcement on Wednesday, the platform revealed its plans to launch a nonfungible token (NFT) marketplace focused on art and the music industry. The NFT marketplace is expected to launch in May, and an official NFT with a token reward system is due later this year.
The marketplace will be fully curated and is launching with major artist partnerships from the music industry.
Brothers Paul and Julian Zehetmayr bought the rights of the company with hopes of reviving the brand in the Web3 era. Given LimeWire’s connection with the music industry —it was primarily used for downloading pirated songs — the new era for the brand will be focused on supporting artists and the music industry.
The CEO brothers addressed the controversial past of the platform and claimed it was one of the key reasons for reviving the brand and supporting true artists and their content. 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.
