Blockchain is a revolutionary technology that is changing the way we think about data and transactions. It has the potential to transform many industries, from finance to healthcare to supply chain management. One of the most significant impacts of blockchain is its ability to decentralize data, making it more secure and transparent.

Blockchain technology has several potential use cases in daily life, including:

1. Secure Transactions: One of the most well-known uses of blockchain is in cryptocurrencies like Bitcoin, which use blockchain to securely record transactions. The decentralized nature of the technology makes it difficult for any one person or group to tamper with the transaction history, providing increased security and trust in financial transactions.

2. Supply Chain Management: Blockchain technology can be used to create a tamper-proof record of the entire supply chain, from the production of goods to their delivery to the end user. This can provide increased transparency and accountability in the supply chain, making it easier to identify and address issues like counterfeiting or fraud.

3. Identity Verification: Blockchain can be used to create a decentralized, secure identity verification system that is not controlled by any one central authority. This can be particularly useful in situations where traditional identification systems are unavailable or unreliable.

4. Voting Systems: Blockchain technology can be used to create a secure and transparent voting system that would be difficult to hack or manipulate. This could help to increase trust in the democratic process and ensure the accuracy of election results.

5. Smart Contracts: Smart contracts are self-executing contracts with the terms of the agreement written into code on the blockchain. This can help to automate processes and reduce the need for intermediaries, providing increased efficiency and cost savings.

6. Decentralized Applications: Blockchain technology can be used to create decentralized applications (DApps) that are not controlled by any one central authority. These DApps can provide a range of services, from financial applications like decentralized exchanges (DEXs) to social media platforms that prioritize user privacy and data security.

Some use cases in defi includes following

Decentralized finance (DeFi) refers to a new financial system that operates on a decentralized, permissionless blockchain network. DeFi has been gaining popularity in recent years due to its potential to disrupt traditional financial systems and provide financial services to a broader population. Here are some of the use cases of DeFi:

1. Decentralized Exchanges (DEXs): DeFi provides decentralized exchanges that allow users to trade cryptocurrencies without the need for a central authority. These exchanges enable peer-to-peer trading of digital assets and provide users with complete control of their funds.

2. Lending and borrowing: DeFi allows users to lend and borrow cryptocurrencies without the need for a traditional financial institution. This is done through smart contracts, which ensure the repayment of loans and the distribution of interest.

3. Stablecoins: Stablecoins are cryptocurrencies that are pegged to the value of an underlying asset, such as the US dollar or gold. DeFi provides stablecoins that are backed by cryptocurrencies and are used to provide stability to the volatile cryptocurrency market.

4. Decentralized Insurance: DeFi provides decentralized insurance, also known as peer-to-peer insurance, that eliminates the need for traditional insurance companies. Users can pool their funds and create insurance policies that are governed by smart contracts, ensuring that claims are paid out automatically without the need for a claims adjuster.

5. Prediction Markets: DeFi provides prediction markets that allow users to bet on the outcome of future events. These markets are decentralized and provide users with complete control of their funds.

Overall, DeFi has the potential to provide a more accessible, transparent, and efficient financial system that is not controlled by a central authority. Its use cases are expanding, and it is expected to become an integral part of the future of finance.

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#Binance

Altcoin projects are on the rise in the new day after a long-term sideways movement. The well-established altcoin project Cardano (ADA) rose to $ 0.37 in this process. On-chain data showed that whales continued to accumulate ADA.

IntoTheBlock, one of the on-chain data analysis companies, shared a series about Cardano on its social media account. In the tweet series in which the activity on the network was examined along with the data, it was emphasized that the whales had increased their savings recently.

Accordingly, in the last 30 days, there has been an increase of 1,500% in entries to these wallets. This was interpreted as the Cardano whales retained their bullish prospect.

In addition to large whale transactions, the transactions of small investors on the network also reached the highest level in the last 3 months. The broad investor group, which traded in the range of 10-100 dollars, constituted 28% of the total transactions.

Despite all the activity on the network, the majority of ADA investors continued to appear at a loss. According to IntoTheBlock, only 22.2% of all traders hold profitable positions at current values. The wallets of 73.2% continue to be in unrealized loss status.

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In the USA, there has been a significant development in terms of the use of cryptocurrencies. It has been learned that a first will take place in the elections to be held in 2024 in the country. Robert F. Kennedy Jr., one of the Democratic Party presidential candidates, announced that he will receive donations in Bitcoin for his campaign.

Kennedy, who attended the ongoing 2023 Bitcoin Conference in Miami as a speaker, shared an important detail about his campaign with crypto money supporters. Expressing that Bitcoin is a symbol of democracy and freedom, Kennedy Jr. emphasized that he will break new ground in this sense:

“Today we are showing the world the power, resilience and resilience of Bitcoin. Almost everyone in this room is aware of the connection between Bitcoin and democracy and freedom… Today we see how fragile our highly centralized system is. Our economy will be more resilient when it has a diverse ecology of currencies, not just one centrally controlled currency.”

Robert F. Kennedy Jr. will compete with Joe Biden to become the Democratic Party's candidate in the 2023 US presidential election. Kennedy Jr., the nephew of 35th US President John F. Kennedy, has been emphasizing the innovativeness of blockchain technology in his speeches for a while.

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Polygon (Matic) announced a significant development over the weekend, which was revealed yesterday. The announcement stated that there would be substantial changes on the network with a major update called Polygon 2.0. The discussion also opened up the possibility of launching a new token as part of the plan, which would include changes to Matic.

In the official statement, it was mentioned that the Matic token economy would be altered. It was shared that an announcement regarding Polygon 2.0 would be made every Monday, and July 10th was indicated as the date for the Matic update.

Following the statements about Polygon 2.0, there has been speculation about developers potentially releasing a new token. Market analysts pointed out that developers could distribute a new Matic with Polygon 2.0 to avoid the security classification by the SEC. However, no official information regarding this matter has been provided in the announcements.

As it is known, the SEC classified Matic as a security last week. After this classification for the native crypto asset of the Layer 2 project, Matic experienced a sharp decline.

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To earn money on Binance through referral, you can follow these steps:

1. Create an account on Binance if you haven't already.

2. Log in to your account and go to the "Referral Program" page.

3. Generate your referral link and share it with your friends and family.

4. When someone signs up for a new Binance account using your referral link, both of you will receive a commission on their trading fees.

5. Your commission will be credited to your Binance account in real-time.

You can earn up to 40% commission on your referrals' trading fees, depending on the number of people you refer and the size of their trades. To maximize your earnings, you can promote your referral link on social media and other online platforms to reach a wider audience.

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There are a few ways to earn money on Binance without actually trading.

1. Staking: Binance offers its users the opportunity to stake their cryptocurrencies and earn rewards in return. By staking your coins, you can earn interest rates that vary depending on the coin and the length of the stake.

2. Savings: You can also earn interest on your idle coins by putting them in a savings account on Binance. By doing this, you can earn a fixed interest rate and the amount you earn will depend on the coin you save.

3. Referral Program: Binance users can earn money by referring new users to the platform. When someone signs up using your referral link, you can earn up to 40% of their trading fees.

4. Binance Launchpool: Binance Launchpool is a program that allows users to earn new tokens by staking their existing coins. Users can earn rewards by staking coins like BNB, BUSD, and DOT in various liquidity pools

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nterest in the Metaverse continues to wane as AI grows in popularity. The prices of virtual lands in some of the best metaverse universes have been experiencing significant declines since their peak prices in 2022. Some have lost more than 90 percent of their value.

CoinGecko recently published research on the metaverse. The report reveals that popular metaverse properties such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels lost significant value from January 1, 2022 to May 24, 2023.

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What is BRC-20?

BRC-20 is a token standard developed from experimental results on the Bitcoin ordinal network. Tokens on this network implement token contracts, token mints, and token transfers using artifacts in ordinal JSON data.

Along with the ongoing memecoin trend, this type of token has been the talk of the crypto space.

The BRC-20 token standard is created with Ordinals and Inscriptions and is stored on the Bitcoin underlying network. As a result, the creation of the Ordinals protocol, which allows users to write any file on-chain in Bitcoins, gave rise to this token standard.

BRC-20 is simply a method of storing a script file in Bitcoins and then using that file to assign tokens to satoshis and allow them to pass from one user to another.

STORAGE

These tokens use ordinals and artifacts to store data on satoshis, whereas native ERC-20 tokens are stored on the Ethereum protocol. As a result, when Bitcoin is updated, it is not impossible that the BRC-20 token will become untradable or even disappear entirely.

UTILITY

The BRC-20 token is experimental, and it has issues that have long plagued the Bitcoin network. Users may encounter scalability issues due to the relatively high transaction fees. Each Bitcoin "block" is also approved in about 10 minutes, which means that multiple transfer functions can be written to the same block. The order of confirmation must then be used to determine validity.

That's how BRC-20 is explained. As a new token standard, it's important to remember that this token is still in its early stages of development, so there will be plenty of trial and error along the way.

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$47B in DeFi, Curve USD stablecoin deployed, Spark Protocol launches, A Lido V2 update, 9 new Synthetix Perps Markets are now live, Enzyme now supports lending via Compound v3, Aave is live on the Scroll Alpha testnet, Happy birthday to Uniswap v3, and much more!

TL;DR

—$47.3B in DeFi this week with Lido dominance 25.30%.

—Curve USD stablecoin deployed; redeployed after missing fees & high gas usage.

—SushiSwap has rolled out its V3 Liquidity Pool on 13 chains.

—Starting May 9, Spark Protocol will be available to all DeFi users. An end-user, DAI-centered DeFi product deployed on Ethereum with supply and borrow features for ETH, stETH, DAI, and sDAI.

—1inch Monthly Digest: April 2023. 1inch to attend Lisbon events. Fusion mode available on more networks.

—Latest Aave News: ETH Tokyo Hackathon, Llama 6-month update, 1delta on testnet, AGD update, Aave Forest, governance updates. Aave is now live on Scroll Alpha testnet.

—A Lido V2 update: The final on-chain vote for the V2 upgrade is scheduled for this Friday, May 12th. If no last-minute findings are surfaced and the vote is successful, Lido V2 will be live after the vote enactment on May 15th.

—Balancer Grants share the latest monthly update. A deep dive into how the power of 80/20 helped Radiant Capital generate significant swap fees and pool incentives in under a month.

—dYdX grants released the latest grants report. he ‘Governance Weekly Recap’ was launched, highlighting some of the important conversations and topics on the forum.

—Enzyme announced the addition of Compound v3 lending to its DeFi operating system.

—ynthetix announced the addition of nine new perpetual futures markets available for leverage trading on Synthetix Perps. The full list of new perpetual markets includes APT, LDO, ADA, GMX, FIL, LTC, BCH, SHIB, and CRV.

—More highlights this week from Monerium’s EURe euro-backed stablecoin on Gnosis Chain.Gnosis Guild continues to work on Hashi in their next development cycle.

—Compound Proposal 159 ‘Refresh Polygon COMP’ has passed successfully. Voting on Proposal 160 ‘Initialize cUSDCv3 on Arbitrum’ will start later today.

—Nexus Mutual’s status update for the new tokenomics project, a guide for members who are interested in migrating their staked NXM from Nexus Mutual V1 to V2.

—Yearn Finance Newsletter #63: yETH! YIP-72 passes; Yearn Finance Alpha: Budget Requests & V3; Exploit on iEarn; Yearn’s Graphic Novel; Community and Ecosystem News.

—Dump Services: sell multiple tokens in a single transaction using CoW protocol.

—Five reasons you’ll love the Uniswap Wallet: a new blog post.

—Zapper on-chain activity feed.

—Umbra adds LUSD and RAI for stealth payments.

—DEI stablecoin on Arbitrum exploit, simple implementation error.

—yAcademy: common DeFi forked protocol bugs.

—Twitter Space: Polygon DeFi Thursdays: Future of DeFi.

—A US Court has ordered the SEC to respond to Coinbase’s allegations within 10 days.

—a16z recently urged the UK to consider a ‘more nuanced’ regulatory framework.

Read the full report on the Paradigm Platform.

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My friend recently lost $500 that he had invested in a cryptocurrency project because he had not done enough research about the project. The project got hacked because they had not done any security audits, and the community was affected.

Ways of doing research #dyor

Research the cryptocurrency:

Read whitepapers, check the coin's website and social media presence. Find out what problem the coin is trying to solve and what the team behind the project looks like. Be sure to check the coin's track record and past performance.

Check the project's website:

Start by visiting the project's website and looking for information about the team. The website should provide details about the team members, their backgrounds, and their roles within the project.

Check the market capitalization:

The market cap of a cryptocurrency refers to its total market value, calculated by multiplying the coin's price by its total circulating supply. The larger the market cap, the more stable the coin is likely to be.

Look for team members' profiles:

Search for the team members' profiles on LinkedIn, Twitter, and other social media platforms. Review their profiles to gain insights into their professional background and experience.

Check for security reports:

Most reputable cryptocurrency projects will list any audits that have been conducted on their website. Look for a section labeled "Audits" or "Security" on their website, which may include links to audit reports or summaries of the findings.

Choose a reputable exchange: Ensure you are using a reputable exchange like binance to buy and sell your cryptocurrency. Look for one with a good reputation, strong security measures, and positive reviews.

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There are a number of factors that could contribute to Ethereum (ETH) reaching $4,000 by the end of 2023. These include:

The Merge: Ethereum is currently transitioning from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) consensus mechanism. This transition, known as The Merge, is expected to significantly reduce power consumption and ETH transaction fees. This could make ETH more attractive to both users and investors and could lead to higher prices.

DeFi and NFTs: Ethereum is the leading platform for decentralized finance (DeFi) and non-fungible tokens (NFTs). As these two sectors continue to grow, they could drive demand for ETH and increase its price.

Institutional adoption: Ethereum is being increasingly adopted by institutional investors. This could lead to more demand for ETH and could increase its price.

Of course, there are also some factors that could prevent ETH from reaching $4,000 by the end of 2023. These include:

A Bear Market: The cryptocurrency market is cyclical and prone to bear markets. If the market enters a bear market in 2023, it could drive the price of ETH lower.

Government Regulation: Governments around the world are increasingly scrutinizing cryptocurrencies. If governments implement stricter regulations, it could decrease the demand for cryptocurrencies and cause prices to fall.

Technological challenges: Ethereum is a complex piece of software and there is always a risk of technical challenges that could disrupt the network and cause a price drop.

Overall, the outlook for ETH is positive. The merger, DeFi, NFT and institutional adoption could boost the demand for ETH and increase its price. However, there are also some risks that could prevent ETH from reaching $4,000 by the end of 2023. These include a bear market, government regulation, and technological challenges.

Not investment advice, make your own DYOR and stay SAFU

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