x
Image Source: Pixabay
Adobe Taps Polygon to Scale NFT Functionality in Behance Social Platform
The integration will allow Behance users to mint and display their NFTs while avoiding higher fees on Ethereum.
Adobe, a leading software company, announced today that it's working with Polygon to integrate the Ethereum scaling program into its Behance social media platform.
The integration, according to Polygon, will allow creators to showcase their NFTs while minimizing their carbon footprint and transaction fees. NFTs are unique tokens that exist on a blockchain and signify ownership of an asset.
Adobe acquired Behance in December 2012. In October, Behance began integrating tools for digital artists to create NFTs—around the same time Polygon began its integration with the top NFT marketplace, OpenSea. According to Polygon, Behance creators can now mint NFTs directly on the Polygon network, bypassing the Ethereum network.
Polygon, formerly Matic Network, is a proof-of-stake protocol launched in October 2017 as a way for Ethereum-compatible blockchains to solve scaling challenges. Polygon’s native coin, MATIC, is the 16th-largest cryptocurrency by market capitalization as of this writing, at nearly $11.2 billion, according to CoinMarketCap. Polygon uses MATIC for payments and settlements. Read More
Santander to Offer Loans Backed by Agricultural Commodity Tokens
Santander is developing the possibility of offering loans backed by tokens that are collateralized in agricultural products. The bank has partnered with Agrotoken, a company that launched a series of agricultural commodity tokens already being used in agriculture-related markets to make transactions. A pilot test has been conducted to validate the system used to produce these loans.
According to a press release by Santander Argentina, a test run of the system has already been conducted, and Argentinian producers validated the software product and its state. Santander reports this is the first product of its kind, linking financial products with agricultural tokens, including blockchain services to facilitate transactions.
Fernando Bautista, head of agrobusiness at Santander Argentina, stated:
This is the first time that a service platform uses blockchain technology and crypto assets to expand the agricultural credit market and release the business potential of the producer. Read More
Researchers From Stanford University Working on New Privacy-Focused Blockchain
According to a new press release, the Espresso Systems project aims to build a blockchain combining “proof-of-stake consensus and a [Zero-Knowledge]-Rollup mechanism to achieve high throughput and low fees.”
Espresso Systems has already raised $32 million in funding led by Greylock Partners and Electric Capital with participation from Sequoia Capital, Blockchain Capital, and Slow Ventures. Other backers of the project include investment funds such as Polychain Capital, Alameda Research, Coinbase Ventures, Gemini Frontier Fund, Paxos, and Terraform Labs.
One of the project’s touted main features is Configurable Asset Privacy for Ethereum (CAPE), a smart-contract application enabling users to customize the privacy levels of the tokens they mint. CAPE currently runs on any Ethereum Virtual Machine (EVM)-compatible blockchain, but the project plans to make it run natively on Espresso in the future. Read More
Binance to Ramp up Mergers and Acquisitions in Other Sectors
In its ongoing quest to become the Google of the crypto industry, the world’s largest exchange is looking to expand beyond the realm of digital assets.
Binance is branching out – at least according to a recent Financial Times report. The world’s largest crypto exchange is planning a mergers and acquisitions spree into new markets amid ongoing regulatory scrutiny.
According to Binance CEO Changpeng “CZ” Zhao, they “want to identify and invest in one or two targets in every economic sector and try to bring them into crypto.” The enigmatic exchange founder thinks that pushing a company in the media industry to embrace crypto will lead others to follow.
The report added that Binance’s core business – which is profiting from crypto transaction fees – is coming under increasing pressure from policymakers around the world that want to regulate the industry. 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
Nexus Mutual Enters Bancor’s DAO Ecosystem to Generate Protocol-Owned Liquidity
To gain durable decentralized liquidity, ethereum-based insurance platform Nexus Mutual staked treasury funds worth $2 million in the form of wrapped NXM (wNXM) tokens in decentralized trading protocol Bancor.
Joining more than 30 decentralized autonomous organizations (DAOs) using Bancor’s treasury management solution, Nexus Mutual seeks to earn yield with its treasury deposit without selling its native tokens.
Hugh Karp, Nexus Mutual founder, acknowledged:
“Bancor doesn’t require any maintenance, is battle-tested and will ultimately drive higher income to our DAO and community due to there being no Impermanent Loss. We’re able to fund our pool with wNXM-only liquidity and attract loyal token holders as long-term liquidity providers without needing to sell tokens or issue incentives.”
Bancor is emerging as a sought-after DAO treasury management provider based on its “Impermanent Loss” guarantee. It uses an automated safe staking system where depositors earn yield from more than 150 integrated tokens. They include Chainlink (LINK), Synthetix (SNX), Basic Attention Token (BAT), and Enjin Coin (ENJ). Read More
Two Ex-Robinhood Employees Launch New Remittance Service Atlantic Money
Two of US stock trading app Robinhood’s former employees on Wednesday announced the launch of money transfer service Atlantic Money to solve challenges that users experience while transferring money globally.
Neeraj Baid and Patrick Kavanagh describe Atlantic Money as the world’s first fixed-fee money transfer service that promises to be a better deal than other foreign exchange (FX) services and pitch itself as a second-generation challenger to Wise, PayPal, and Revolut.
While at Robinhood, the work of both Baid and Kavanagh involved the US broker's international projects, where they were also responsible for researching expansion into Europe. Though Robinhood eventually decided to abandon its UK launch, Baid and Kavanagh said that such experience was what prompted their interest in launching a remittance fintech that focuses on the UK market.
The founders also said that what influenced them to launch their own fintech business is high fees and other frictions being experienced in the fintech ‘challenger’ platforms that have disrupted banks’ monopoly on the industry. Atlantic promises to save people up to 99% compared with incumbents such as Western Union and Wise. Read More
Blockchain Technology - Beginning Of A New Era In Gaming
Since its modest beginnings, the video game industry has gone a long way. Virtual reality gaming has developed from a basic business to a treasure trove of emotionally-charged, engrossing virtual reality games that reward accuracy and preparedness.
There must be fairness in the realm of massively multiplayer online games, such as PUBG since players are able to customize their avatars. The player's reputation is tarnished if the character is mistreated.
No one dies like Mario and no one has a faraway objective to strive for as a princess does. Emotional and real-life circumstances are at the heart of many games.
To accomplish their aims and establish supremacy in these games, participants use virtual assets that are broadcast live. It's becoming more and more accepted as a sport throughout the world. The sector is expected to be valued at $138 billion in 2022.
An explosion in interest in blockchain technology has occurred recently because of the need for a new system that can solve the issues with the current system of paper money and replace it with something entirely fresh and innovative in its stead. Aside from money, blockchain has a broad variety of uses, including in the gaming industry. Why? Because blockchain technology has the potential to revolutionize the way games are made, maintained, and played. Read More
Professional E-Sports Organisation Misfits Gaming Has Announced A Multi-Year Blockchain Partnership With Tezos.
Misfits have named Tezos as their official blockchain partner and will take the form of a multi-year partnership that will see the launch of specific blockchain games that will be created on a new Tezos-powered platform.
The collaboration will include the launch of Block Born, a platform dedicated to Tezos-based games, and will see the Tezos branding appear on Misfits players' jerseys during tournaments.
Block Born Senior Vice President Will Pazos noted that Block Born is mostly intended for crypto-native gamers, stating:
“What we can do is speak to the audience of blockchain gamers,” he said, “that are like, ‘Look, I'm done with the mainstream narrative. I want a flag that I can fly when it comes to the ideas of blockchain gaming. I want to own my assets and have that autonomy.’” 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.
