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Defi Losing Track of Its Core Vision as It Gradually Resembles the Very Idea It Aspired to Change
As defi continues to expand, it risks embracing the very ideology it initially sought to reject as the primary beneficiaries of this new financing paradigm are those who already own digital assets.
When it comes to financial products and solutions, almost everything comes with a catch, be it exceptional returns on investments or low financing rates. Decentralized finance (defi) is no exception.
Defi has gained immense popularity because it sought to remove traditional finance’s (tradfi) inherent problems and downsides. While there is no denying that the emergence of defi has indeed lowered access barriers to financial solutions, we can’t overlook the uncomfortable reality that defi is becoming, at least to an extent, the same as tradfi, with a ‘decentralized’ tag. Read More
Blockchain tech firms AllianceBlock and Flare integrate technologies to expand their DeFi ecosystems
AllianceBlock, a blockchain tech firm that seeks to bridge the gap between decentralized finance, or DeFi, and traditional finance, announced a partnership with fellow blockchain tech entity Flare.
Flare claims its layer-one, or blockchain protocol improvement, technology can bring smart contracts to cryptocurrencies such as Ripple (XRP), Dogecoin (DOGE), Bitcoin (BTC), Algorand (ALGO), and Stellar Lumens (XLM). In addition, Flare is also a decentralized oracle network that seeks to enable blockchains to access real-world data in smart contract execution.
Meanwhile, AllianceBlock brings to the table its cross-chain interoperability solution AllianceBridge, its native decentralized exchange, or DEX, known as AllianceBlock DEX, decentralized peer-to-peer funding protocol AllianceBlock Fundrs, and its compliance and regulatory solution. Together, the two parties seek to enhance their blockchains for DeFi capabilities with each other's technologies. Read More
Cardano prepares to scale with Hydra upgrade as network reaches 2M wallets
In a tweet posted by the Cardano Foundation on Monday, the number of Cardano (ADA) wallets has surpassed the 2 million mark. The network reached the previous milestone of 1 million ADA wallets on May 22, 2021.
During that period, the Cardano Foundation successfully implemented the Alonzo hard fork, enabling smart contracts on its network. Meanwhile, Charles Hoskinson, Cardano's founder, has shifted his attention to increasing the adoption of blockchain technology in Africa. Via a tweet posted last week, Hoskinson claimed that 5 million students in Ethiopia are on schedule to receive digital IDs linked to their academic records that are based on the Cardano blockchain. Read More
A cryptoprocessor is helping businesses and end-users adapt to digital currency usage
The path to widespread cryptocurrency adoption may start with businesses, but it ends with ordinary users.
CoinsPaid is an award-winning payment processor that assists businesses by accepting crypto payments and receiving equal amounts in fiat currencies for instant deposits or holding. Transaction fees for using the platform are currently around 1.5%, with available discounts up to 50$. Additionally, clients can access multiple business solutions from an OTC desk and multicurrency wallet.
The platform aims to be a cost-effective solution for businesses to start their cryptocurrency payment vertical, effectively becoming a gateway themselves. In practice, CoinsPaid customers receive a processor under their brand that is fully supported, so companies can focus on what they do best -- developing their business. Read More
An innovation that is set to 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 that is algorithmically set by the central authorities, Markethive is introducing four news feeds to accommodate the multi-functional platform within the Markethive ecosystem. The individual feeds are General, Video, Blogging, and Content Curation. 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 = Markethive. Read More
Commonwealth Bank Of Australia Partners With Gemini And Chainalysis To Offer Crypto Retail Services
The Commonwealth Bank of Australia (CBA), the country’s largest bank, has announced a partnership with crypto exchange Gemini and blockchain analytics firm Chainalysis. The partnership takes the financial institution to a strategic and historical position, effectively becoming the first bank in Australia to offer direct crypto retail services through CommBank, its duly licensed mobile app. Read More
Blockchain forensics firm Chainalysis opens Australian office
Chainalysis aims to aid crypto and blockchain’s already impressive growth in Southern Asia and Oceania.
“The Pacific region is quickly becoming a center for cryptocurrency innovation,” said Chainalysis Australia and New Zealand manager Todd Lenfield. “Our increased investment in the region will ensure businesses and governments can explore digital asset ecosystems in a safe, compliant manner.”
The company’s managing director for the Asia-Pacific region, Ulisse Dell’Orto, added:
“Chainalysis’s data platform will strengthen the trust necessary to further legitimize cryptocurrency as an everyday asset for retail and institutional investors alike.” Read More
Solana Flips Fellow Ethereum Rival Cardano as SOL Nears All-Time High
SOL is now the fifth-largest crypto asset by market cap.
SOL, the native coin of the smart contract-enabled blockchain Solana, has risen in price by 7% over the last 24 hours to become the fifth-largest cryptocurrency by market capitalization, according to CoinGecko.
In doing so, it has flipped Cardano's ADA, which has been unable to keep pace with its fellow "Ethereum killer." ADA's price is up 2% on the day, but it has shed 8% of its value over the last week. Solana's market cap now stands at above $64 billion, compared to $63.5 billion for Cardano. Read More
Global Cheap Electricity Distribution Bodes Well For Bitcoin Decentralization
The China mining ban was a godsend for Bitcoin decentralization. So far, the USA is the big winner. However, for the good of the network, it would be ideal to distribute the hashrate all over the world. How do we accomplish that in Bitcoin-land? Relying on incentives. If it’s profitable to do, and there’s the possibility to do it, Bitcoin decentralization will happen. That’s why this global cheap electricity map is such good news. 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.
