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Web3, also known as the decentralized web, is the next phase of the internet that allows for decentralization of information and data. Unlike the traditional web, where data is stored and controlled by centralized servers and corporations, Web3 is based on blockchain technology, which enables peer-to-peer transactions and a distributed network of computers.

Introduction to Web3

Web3 is a term used to describe the decentralization of the internet, which uses blockchain technology to enable peer-to-peer transactions and a distributed network of computers. The Web3 architecture is designed to provide more control, privacy, and security to users than the traditional web, which relies on centralized servers and corporations to store and control data.

History of Web3

The Web3 movement started in 2009 with the launch of Bitcoin, the first decentralized digital currency. Since then, several blockchain-based platforms and applications have been developed, such as Ethereum, Polkadot, and Cardano. These platforms offer decentralized infrastructure, smart contracts, and decentralized applications that can run on top of the blockchain.

Web3 Architecture

Web3 architecture consists of several components, including blockchain, decentralized storage, decentralized identity, and decentralized applications (dApps).

Blockchain: Blockchain is a distributed ledger that records all transactions and interactions on the network. It enables secure, transparent, and tamper-proof transactions, making it the foundation of Web3.

Decentralized Storage: Web3 uses decentralized storage solutions such as IPFS (InterPlanetary File System) and Swarm to store and share data. Decentralized storage solutions remove the need for centralized servers, which can be vulnerable to hacking, and provide more control and privacy to users.

Decentralized Identity: Decentralized identity solutions such as uPort, Civic, and Sovrin provide users with self-sovereign identity, which enables them to control their digital identities and data.

Decentralized Applications (dApps): Decentralized applications (dApps) are built on top of the blockchain and enable peer-to-peer transactions without intermediaries. Examples of dApps include decentralized finance (DeFi) platforms, social media platforms, and online marketplaces.

Web3 Components

Web3 is made up of several components that work together to provide a decentralized web experience.

a. Blockchain: As mentioned earlier, blockchain is the foundation of Web3. It enables secure, transparent, and tamper-proof transactions.

b. Smart Contracts: Smart contracts are self-executing contracts that are programmed to automatically execute when certain conditions are met. They enable peer-to-peer transactions without intermediaries.

c. Cryptocurrency: Cryptocurrency is a digital asset that can be used as a medium of exchange. Cryptocurrencies enable peer-to-peer transactions without intermediaries and can be used to pay for goods and services.

d. Decentralized Applications (dApps): Decentralized applications (dApps) are built on top of the blockchain and enable peer-to-peer transactions without intermediaries.

Applications of Web3

Web3 has several applications across different industries, including finance, gaming, social media, and supply chain management.

a. Decentralized Finance (DeFi): DeFi is a rapidly growing industry that enables peer-to-peer transactions without intermediaries. DeFi platforms such as Uniswap, Aave, and Compound provide decentralized infrastructure for lending, borrowing, and trading cryptocurrencies.

b. Gaming: Web3 enables the creation of decentralized gaming platforms that provide users with more control and ownership over their in-game assets. Examples of Web3 gaming platforms include Axie Infinity and Decentraland.

c. Social Media: Web3 introduces a new paradigm for social media platforms by providing users with more control over their data and interactions. It allows for decentralized social networks where users have ownership of their content and can interact directly with others without relying on a centralized authority. Projects like Steemit and Minds are exploring decentralized social media models.

d. Supply Chain Management: Web3 can revolutionize supply chain management by introducing transparency and traceability. By recording transactions and product information on a blockchain, it becomes easier to verify the authenticity and origin of products. This can help in reducing counterfeiting, ensuring fair trade practices, and improving efficiency in supply chains.

e. Governance and Voting: Web3 offers opportunities for decentralized governance systems and voting mechanisms. Through the use of blockchain-based voting platforms, the integrity and transparency of elections can be enhanced. Decentralized governance models enable community-driven decision-making processes, reducing the reliance on centralized authorities.

f. Intellectual Property: Web3 provides solutions for protecting intellectual property rights by leveraging blockchain technology. Artists, musicians, and content creators can tokenize their work and establish ownership rights. Smart contracts can automate royalty payments, ensuring fair compensation for creators.

Challenges and Future of Web3

While Web3 holds immense potential, it also faces several challenges. One of the main challenges is scalability, as current blockchain networks can struggle with handling a large number of transactions. Additionally, user experience and adoption need improvement to make #Web3 applications more accessible to the masses.

The future of Web3 looks promising as more developers and entrepreneurs explore its potential. The development of layer 2 solutions, interoperability protocols, and advancements in #blockchain technology can address scalability issues. Moreover, regulatory frameworks need to adapt to accommodate the decentralized nature of Web3 while ensuring consumer protection.

Conclusion

Web3 represents a significant shift towards a decentralized and user-centric internet. With its blockchain-based architecture, decentralized storage, identity solutions, and applications, Web3 offers enhanced security, privacy, and control to users. It has diverse applications across industries and holds the potential to reshape finance, gaming, social media, supply chain management, and governance. While challenges exist, ongoing developments and innovations are paving the way for a more decentralized future powered by Web3.

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#FTM/USDT Technical Analysis: A Bullish Outlook with Long-Term Targets

Chart Analysis: $FTM forms Cup & Handle pattern on HTF, hinting at breakout and massive gains!

Long-Term Targets: Fantom could skyrocket to $10 in next bull run, a potential 30x-40x surge!

Support/Resistance:

Support at $0.25 & $0.170

Resistance at $0.46, $0.60, $1.18, $3.31

Breakout above resistance fuels further bullish momentum

Accumulation Opportunity:

Every dip is a chance to accumulate

Strong support at $1.75 makes it a sweet entry point!

Takeaways:

Cup & Handle pattern = bullish trend

Research before investing Let's ride the Fantom wave!

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On May 16, 2023, US District Judge Analisa Torres denied the SEC's request to seal documents related to a 2018 speech by former SEC Head William Hinman. In the speech, Hinman said that Bitcoin and Ethereum were not securities. The SEC accused Ripple of selling XRP as an unregistered security.

The SEC argued that the documents should be sealed because they were deliberative materials that could reveal the agency's thinking on the issue of whether XRP is a security. However, Judge Torres ruled that the documents were not protected by the privilege of deliberative process because they did not relate to an agency position, decision or policy.

The ruling is a victory for Ripple and could be a significant setback for the SEC's case. The documents that were unsealed could provide evidence that the SEC had no legitimate basis for its decision to sue Ripple.

Ripple CEO Brad Garlinghouse tweeted that the ruling was "another victory for transparency" and that it "should make it clear that the SEC's case against Ripple is without merit."

The SEC has yet to rule on the ruling.

#feedfeverchallenge #Ripple #RippleSEC #Ripplenews

The U.S. Securities and Exchange Commission pushed back its deadline to decide whether to approve or disapprove a proposal for a combined carbon credit futures and spot bitcoin product.
The SEC said it was delaying its decision to November 21 for the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, in a filing posted on Tuesday.
"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the comment it has received in connection with the proposed rule change," the SEC said.
Crypto asset manager 7RCC's proposed fund plans to invest 80% of its assets in bitcoin and 20% in "financial instruments, including swap agreements, that provide exposure to Carbon Credit Futures represented by the Index," according to a filing in March. 7RCC also said it plans to appoint Gemini as the custodian of the fund's bitcoin.
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happening across the digital asset ecosystem.
An S-1 registration statement was filed earlier for the spot bitcoin and carbon credit futures ETF in December 2023, about a month before the SEC approved 11 spot bitcoin ETFs.
The proposed ETF received one comment from James D. Milas, a Loyola University student in Chicago, class of 2026. Milas' comment focused on carbon credits and urged the SEC to " prompt continued efforts to mitigate the adverse effects of carbon credit companies."
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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The latest buzz in the crypto world revolves around the newly introduced Bitcoin token standard (BRC-20), which has garnered considerable attention and favor owing to the recent memecoin craze. Despite the ongoing hype, the token standard is still subject to certain constraints concerning the broader crypto landscape.

A recent report by leading crypto exchange Bitfinex has emphasized the token standard’s potential and the significance of identifying more use cases to expedite its widespread adoption.

The BRC-20 Token Standard

In March, the BRC-20 token standard, known as “Bitcoin Request for Comment,” was established utilizing the Ordinals protocol. Originally designed to facilitate the creation of Bitcoin non-fungible tokens (NFTs) by inscribing data such as images, videos, codes, and text into the witness portion of BTC transactions, the protocol has evolved to allow for the distinctive transfer of fungible tokens on the blockchain.

According to data from brc-20.io, the market capitalization of BRC-20 tokens had exceeded $900 million at one point, with more than 14,400 tokens issued. However, the market has declined to approximately $542 million at the time of writing.

Since the introduction of Bitcoin-based fungible assets, transactions on the network have surged, with BRC-20 Ordinals transactions surpassing non-BRC-20 transactions by over four million, according to data from Dune Analytics.

Some of the most in-demand BRC-20 tokens include ORDI, NALS, PIZA, PEPE, and MEME.

Limitations of the Network

Despite showcasing the potential of the Ordinals protocol, the new token standard faces limitations that could impede its growth and advancement.

One significant drawback is the lack of use cases, which could hinder development. Additionally, the BRC-20 network doesn’t support smart contracts, and assets’ prices depend mainly on market speculation. This, coupled with their 24-hour trading volume being less than 30% of their market cap, as evident in the case of ORDI, makes predicting their future challenging.

Another limitation is the absence of Ethereum Virtual Machine (EVM) compatibility, restricting developers’ access to network resources and building capabilities. This could limit adoption and result in a narrow ecosystem.

Furthermore, BRC-20 tokens consume significant block space, which could lead to network congestion and higher transaction fees.

Despite these limitations, Bitcoin’s proof-of-work (PoW) consensus mechanism makes it difficult for hackers to breach the network, making the blockchain’s security robust.

#feedfeverchallenge #crypto2023 #BRC20

blockchain technology, or decentralized finance solutions in everyone's daily lives.

Cryptocurrencies, blockchain technology, and decentralised finance solutions are progressively entering popular use and altering the way people transact and interact financially. With the rising acceptance of cryptocurrencies, consumers may send and receive money internationally without the need of middlemen in a quick, secure, and cost-effective manner. The blockchain technology behind these currencies assures transaction immutability and transparency, which boosts confidence and decreases fraud. Decentralised finance solutions, on the other hand, give creative alternatives to traditional financial services such as lending, borrowing, and investing in a decentralised and permissionless environment. These technologies have the potential to increase financial inclusion and financial independence for all. #feedfeverchallenge

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Solana 生态 L2 网络 Sonic SVM 近日公布 HyperFuse Guardian Nodes 销售信息，据称是 Solana 生态首次节点销售。
官方公告指出，HyperFuse Guardian Nodes 是 SVM 生态中 Sonic Hypergrid 框架安全性和功能性不可或缺的一部分。节点运营商将助力验证状态转换，提高网络效率。早期采用者有机会以低于 Sonic 1200 万美元 A 轮融资期间向风投提供的价格买入 Sonic 代币。
节点销售分为以下三个阶段进行：
Tier 1 Raffle：9 月 16 日 21 时
白名单销售：9 月 18 日 21 时
公售：9 月 19 日 21 时
此次节点销售是 Sonic 计划发展 SVM 生态系统和 Solana 游戏赛道的关键组成部分。该公司还透露，其已与 40 多家游戏工作室合作，平台上的活跃钱包超过 200 万个。
此前 6 月消息，Sonic 宣布完成 1200 万美元 A 轮融资，Bitkraft Ventures 领投，Galaxy Interactive、Big Brain Holdings 等参投，据悉其在本轮融资的完全稀释代币估值达到 1 亿美元。Sonic 的法人实体 Mirror World Labs 构建了一项名为 HyperGrid Framework 的专有技术，可通过 Solana 链上 rollups 实现水平扩展。 #feedfeverchallenge

Bitcoin (BTC) kicked off the U.S. trading week, falling below $27,500 in the afternoon (ET).

The largest cryptocurrency by market capitalization was recently trading at around $27,350, down over 5.5% in the past 24 hours, according to CoinDesk data, as investors continued to mull over a surge in interest in the PEPE meme coin and Binance congestion issues that forced the exchange giant to temporarily suspend bitcoin withdrawals over the weekend.

Binance resumed the service Sunday night (ET), but the stoppages and rising price of bitcoin raised questions about the impact of large bitcoin transaction volume.

Ether (ETH) followed a similar pattern, falling beneath the $1,900 level it’s held for much of the past seven days. The second largest crypto in market value was trading at around $1,829, off 4.4% on a 24-hour basis.

ETH’s deflationary narrative post-Ethereum Shapella upgrade has strengthened as ETH’s net issuance, or the annualized inflation rate, recently dropped to -2.7%, according to ultrasound.money. More than 62,300 ETH, worth around $116 million, have been burned over the past seven days, ultrasound.money’s data tracker showed.

“Both BTC and ETH haven't tested near-term supports since the rally we saw around mid-March," Joe DiPasquale, CEO of crypto fund manager BitBull Capital, told CoinDesk in an email.

DiPasquale said BTC might test support between $25,000 and $27,000 before bouncing again, although the economic outlook is favorable for BTC and the broader crypto market to thrive. He called accumulating BTC and ETH on dips a “sound strategy.”

Most major tokens were also trading in the red on Monday, including crypto payment-focused XRP and Polygon’s MATIC, which both tanked over 8% to trade at around 42 cents and 92 cents, respectively. The PEPE craze appeared to be waning with its market cap dropping to some $878 million after peaking above $1 billion before the weekend, Messari data showed.

The CoinDesk Market Index (CMI), which measures the overall crypto market performance, was down over 5% for the day.

Greg Cipolaro, global head of research at bitcoin investment firm NYDIG, wrote in a Friday newsletter that despite short-term price fluctuation, BTC is increasingly serving as a “buy-and-hold asset” based on on-chain data.

“With more bitcoins being held for longer, a dwindling supply is available for short-term trading,” Cipolaro wrote, adding that this may result in increased volatility or trading costs through wider spreads.

“Given bitcoin’s fixed supply nature, this also means that fewer bitcoins are available for others to purchase. This may result in upward pressure on prices if the demand for bitcoin grows,” he wrote.

Equity markets turned mixed on Monday midday, with the S&P 500 and tech-heavy Nasdaq Composite trading almost flat, while the Dow Jones Industrial Average (DJIA) was down 0.1%.

In bond markets, the note on the 2-year Treasury yield – a gauge of near-term, interest rate expectations – edged 8 basis points higher to sit around 3.99%. The note on the 10-year Treasury yield also rose 7 basis points to 3.51%.

#feedfeverchallenge #Binance #BTC #crypto2023

BNB Chain announced on X platform that the decentralized data storage network BNB Greenfield testnet is expected to undergo a Manchurian hard fork at block height 3,922,485 (12:00 on January 4th Beijing time). Validators need to upgrade to greenfield v1.2.1 in advance, and storage providers (SP) need to upgrade to greenfield-storage-provider v1.2.2 in advance. The upgrade will not affect the account balance or data stored on the Greenfield testnet. This hard fork will introduce "MsgSetTag" to enhance message delivery and fix vulnerabilities in GVG creation and bucket status events.
#feedfeverchallenge

金色财经报道，Chainalysis的一份报告，2022年7月至2023年6月期间，尼日利亚的加密货币交易量同比增长9%，达到567亿美元。金色财经此前报道，尼日利亚中央银行（CBN）宣布取消了对该国加密货币交易的禁令。
#feedfeverchallenge

According to data from the Wormhole protocol, a total of $370 million in liquidity has been transferred from Ethereum to other blockchains in the past month, with nearly 90% going to Sui and Solana. Dan Reecer, the head of operations for Wormhole, believes that the outflow of funds may be driven by memecoins and airdrop speculation. Multiple Solana DeFi protocols, including Kamino, MarginFi, Parcl, and Solend, have announced their own reward systems. In addition, the incentive program within Sui's ecosystem has "driven a lot of DeFi activity," which may also explain some of the outflow of funds.
#feedfeverchallenge

本文概述了法律界口头协议的关键商业术语和法律含义。 #feedfeverchallenge

金色财经报道，21.co链上数据和研究分析师Tom Wan发布的数据显示，上周是自上海升级以来最大规模的质押ETH赎回，656200枚ETH（约16亿美元）被全部赎回，85%的赎回由Figment和Celsius贡献。
#feedfeverchallenge

金色财经报道，美国证券交易委员会主席Gary Gensler今日在采访中被问及对以太坊ETF的看法时回应称：“正如我两周前所说，我们对现货比特币ETF所做的一切仅限于这一非证券商品，不应被解读为除此之外的任何其他内容”。
Gensler表示，现在投资者可以更好地了解比特币ETF的信息，他提到：“从这个角度来看，也有更好的披露，它们现在在证券交易所上市，而不是在场外市场交易。当时有10或11家同时上线，带来了一定程度的竞争。你已经看到了一些竞争，投资者从较低的费用中受益 ”。
当记者问及他对最近法庭听证会的看法时，Gensler表示，他将让执法人员和该机构的诉讼律师谈论具体细节。
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According to the blockchain data tracking service Whale Alert, at around 22:45 on January 31st Beijing time, an address starting with "0xf487" transferred 74,007,416 USDC to Coinbase Institutional via the Ethereum blockchain, worth approximately $BTC #feedfeverchallenge

BitMEX Research 在 X 平台发文表示，今天是加密开放专利联盟（COPA）与 Craig Wright 案件审判的第一天。听证会于 18:30 开始。今天每一方都将陈述他们的基本论点，明天 Craig Wright 将开始他的案子。
此前1月24日消息，Craig Wright向加密开放专利联盟（COPA）成员以及即将进行的知识产权诉讼中的各方提出和解提议。Craig Wright同意放弃在BTC、BCH和ABC的数据库权利和版权，并称这份和解提议旨在维护比特币系统初始开发时的完整性，同时限制在高等法院进行冗长审判的不必要费用。 #feedfeverchallenge

a16z partner Chris Dixon's new book, "Read Write Own: Building the Next Era of the Internet," will be released on January 30th. In an interview with Fortune magazine, he stated that AMMs like Uniswap are a true breakthrough in the field of financial infrastructure. Wall Street should embrace new technologies such as AMMs and think rationally about how to integrate real-world assets. From a regulatory perspective, real-world assets are complex. Some large financial companies are working hard to solve the problem of how to put mortgage loans or stocks on the blockchain and tokenize them.
#feedfeverchallenge

据Spot on Chain数据监测，巨鲸0x117刚刚将1,171枚ETH（约240万美元）交换为2,900枚WHITE，导致价格上涨764.78%，现在，该巨鲸是WHITE的最大持有者。
#feedfeverchallenge