x
Image Source: Pixabay
Peaq To Bring Ground-Breaking Machine NFTs To Web3
peaq is set to play a major role in the Web3 revolution by launching ground-breaking machine NFTs – something every other blockchain company has neglected to do.
The Berlin-headquartered project will make it possible for people to purchase NFTs which represent ownership rights to a wide array of assets – including cars, machines, robots, and other devices – via the peaq network.
peaq’s entire project is centered around ownership, and, as they put it, “Web3 is all about verifiable ownership of digital assets on the web, and of physical assets via the web.”
So, via their unique and innovative solution, peaq will give users the ability to own, govern and profit from their machines in the Web3 era. Read More
Square Releases White Paper for Decentralized Bitcoin Exchange
Sure, you can buy Bitcoin on the Cash App run by Square. But what if you could swap it via a decentralized exchange built by Square?
Square, the financial services company helmed by Twitter's Jack Dorsey, wants to do more with Bitcoin than just allow people to buy it on its Cash App. It's working on a way to let people trade BTC and fiat on the type of decentralized exchange (DEX) that's common to Ethereum.
Square's TBD division, first announced in July, today released a white paper presenting tbDEX.
The white paper claims tbDEX is a "protocol for discovering liquidity and exchanging assets (such as bitcoin, fiat money, or real-world goods)" safely without knowing the identity of other parties. Moreover, it says the protocol goes around financial intermediaries and other gatekeepers (such as centralized exchanges) that guard the borders between fiat and digital currencies. Read More
Kraken Is Delisting Top Privacy Coin Monero (XMR) For UK Users
It seems UK users will soon be unable to access Monero on one of the leading crypto exchanges. There have always been concerns around the Bitcoin competitor regarding the absolute privacy that the digital asset confers. Until now, it remains impossible to track/trace Monero transactions, making it the ultimate privacy coin, and governments are worried that individuals will use this to evade taxes.
Another concern is around the use of the cryptocurrency as a criminal tool, although there is no definitive way to tell if this is true. However, it remains high enough on the list of concerns that even countries where cryptocurrencies are not illegal are clamping down on the cryptocurrency. The latest is the UK as regulations have pushed Kraken to remove access for its citizens. Read More
Decentralized exchanges aren’t ready for derivatives
DEXs conceivably hold great promise for the future of derivatives trading, but not at the cost of security, speed, and availability for all.
The technology isn't available right now to have a proper options market on a DEX with the level of sophistication that you find in the traditional space. Current offerings, therefore, suffer from capital inefficiencies, poor pricing, and added risk for traders. Instead of tech first, the people must be put first and the tech layered in as it matures, providing decentralization in progressive components. The success of dYdX’s hybrid approach of a centralized order book with decentralized custody shows that this is the viable route for a full derivatives options suite as well.
The percentage of DEX to centralized exchanged (CEX) spot trade volume was at 9% in June, which was the peak of the regulatory crackdown. Read More
Elrond has combined the scarcity of Bitcoin, the programmability of Ethereum, and the speed of next-generation cryptos, like Solana, to create a cryptocurrency network unlike any other. Elrond is a platform built for internet-scale and capable of processing thousands of transactions per second at $0.001 per transaction, and able to scale to hundreds of thousands with demand.
Elrond’s distinction is being a project with a soul. One that has united forces of an incredibly vibrant community of 190,000 people, spanning 18 languages and in almost 30 countries. Elrond aims to create the backbone for high bandwidth, transparent financial system, and extending universal access to anyone, anywhere.
Elrond’s egold (EGLD) native token has exploded in value over the last year and seems to be poised for more gains. The Blockchain project has been considered under the radar and received very little crypto media exposure until now. Read More
The three traits of Web 3.0 that fix what went wrong with today’s internet
Today’s internet is a far cry from its original intent as an open space, but Web 3.0 promises an open, transparent, and creator-friendly future of the internet.
Blockchain tech has come a long way. It wasn’t that long ago that crypto remained at the fringes, evangelized by a vocal minority. The narrative shifted once the COVID-19 pandemic pushed people into their homes with plenty of time to dive into new interests. Crypto benefited from the increased attention, entering everyday conversations among friends, family, and colleagues.
Even so, it’s still early in crypto. Widespread adoption remains elusive and traditional tech gatekeepers maintain their grip on the digital economy. To loosen that grip, those of us building the decentralized internet, or Web 3.0, have to do a better job at defining the narrative about what’s at stake if we continue along with the status quo.
We have an especially compelling opportunity to seize the narrative after this past month when sentiment against Web 2.0’s centralized controllers turned especially sour. The stakes are becoming clearer as we see how Web 2.0’s structural inequalities affect us all. Read More
Building multichain is a new necessity for DeFi products
Web 3.0 will be a multichain mosaic, and the winning DeFi projects will be those that build experiences connecting as many blockchains as possible.
At present, your DeFi product needs to be multichain to be competitive — this is the hard (and exciting) truth of 2021. Whether you’re building a wallet, a lending service, or a DeFi game, your target audience knows that there is more to the crypto space than Ethereum. And they expect you to provide the best of all worlds.
It seems there will always be a debate about which blockchain makes for the best foundation for projects. Enhanced security, low transaction costs, and formidable speed — there will always be a chain that offers bigger advantages. As the speculators argue over the next potential “Ethereum killer,” a new multichain reality is forming that has a less stark competitive implication. Instead of a dog-eat-dog framework, the future of blockchain and DeFi will favor those products that mesh into a cooperative multichain user solution and eventually forget those that stay isolated. Read More
Cardano Creator Examines Shiba Inu and Dogecoin, Lists Key Factors in Evaluating Crypto Projects
Cardano (ADA) creator Charles Hoskinson says that meme coins have reached market caps of billions of dollars despite lacking user utility.
The CEO of the blockchain tech firm responsible for the development of Cardano, Input Output Hong Kong (IOHK), tells his 291,000 YouTube subscribers that crypto projects should be evaluated based on their mission and vision. Read More
Will Reddit Lead The Social Migration To Crypto (Or Are Other Platforms A Step Ahead)?
Reddit has been making waves lately, both with its 500M social media members and with the Crypto community as a whole. Adding half a billion new users to the Crypto ecosystem would be a landmark for the industry, and would go a long way toward the mass adoption threshold. At this point, very few people have ever heard of crypto, and it certainly isn’t going away. But that’s very different from saying it is well understood by the masses.
That lack of understanding is a major hurdle preventing perhaps billions from interacting with crypto, and no amount of explainer videos are going to transform awareness into activity. It’s been a given in the crypto community that it will take something massive to create mass adoption: either a known, widely-used platform finding a crypto use case and easing/forcing its user base into crypto; or a crypto-based platform that offers something so valuable and unique that users are willing to take the leap into crypto just so they can participate. 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.
