The key challenges of metaverse

The concept of the Metaverse, a virtual universe where users can interact with a computer-generated environment and other users, has gained significant attention recently. While there is enthusiasm about its potential, several challenges and barriers currently hinder the widespread adoption of the Metaverse. Here are some key challenges:

Technical Infrastructure: Building a fully functional metaverse requires a robust technological infrastructure that can support seamless virtual experiences. This includes high-speed internet connectivity, low latency, powerful computing capabilities, and scalable servers. Ensuring the widespread availability of these technologies can be a significant challenge, particularly in less developed regions or rural areas.

Interoperability and Standards: The metaverse will likely involve multiple platforms, virtual worlds, and interconnected systems. Ensuring interoperability and standardization among these different components is crucial to enable users to seamlessly navigate and interact within the metaverse. Developing and implementing common standards and protocols could be a complex process, involving collaboration among various stakeholders.

User Interface and Experience: For the metaverse to gain widespread adoption, it needs to offer compelling and intuitive user experiences that rival or surpass the real world. The learning curve associated with new technologies and interfaces may initially hinder adoption. Moreover, the metaverse must appeal to a broad audience and offer experiences that cater to different user preferences and interests.

Privacy and Security Concerns: The metaverse will involve the collection and sharing of vast amounts of personal data, potentially raising concerns about privacy and security. Protecting user information, preventing unauthorized access, and addressing cybersecurity risks will be essential for building trust among users and encouraging widespread adoption.

Accessibility and Inclusivity: Ensuring that the metaverse is accessible to people with disabilities, as well as those from diverse socioeconomic backgrounds, is a significant challenge. Accessibility considerations should be incorporated into the design and development of the metaverse to avoid creating barriers for certain user groups.

Legal and Regulatory Frameworks: The metaverse is expected to have a profound impact on various industries and economies. Addressing economic disparities and potential monopolistic tendencies will be important to ensure fair participation and avoid consolidations that hinder competition. Additionally, regulatory frameworks will need to be established to address legal, ethical, and governance issues associated with virtual environments.

Ethical and Societal Implications: Virtual worlds and the metaverse challenge traditional notions of reality and raise philosophical, ethical, and social questions. Cultural acceptance and integration into society may take time and require addressing concerns related to identity, addiction, isolation, and the impact on physical communities.

Overcoming these challenges and barriers will require collaborative efforts from various stakeholders, including technology companies, policymakers, developers, content creators, and the user community. Addressing these concerns will pave the way for the widespread adoption and responsible development of the Metaverse.

#NFTs

#Metaverse #Adoptions

John Deaton, the founder of CryptoLaw and a famous XRP enthusiast, has taken to Twitter to share his take on another XRP SEC-related issue. Deaton believes the SEC's decision to subpoena the creator of the XRP ledger could be an attempt to stifle "innovation" in the cryptocurrency space.

Deaton recently responded to XRP haters on Twitter claiming that the SEC is right and believing that "XRP is clearly a security." He said he's encountered this sentiment lately and that he doesn't believe that XRP is a security.

Deaton's response to XRP haters on Twitter

Deaton tweeted that “all these XRP haters” who tweeted that the SEC will easily win the lawsuit against Ripple cannot provide a reasonable answer as to why they definitely think XRP is a security.

The CryptoLaw founder points out that the regulator could easily have attacked Ripple for the same reason in 2018, when the SEC lawyers conducted a thorough analysis of the token that Ripple Labs works with. The memo was dated June 13, 2018.

After the analysis, they allowed the fintech giant to continue its XRP sales and allowed Ripple to buy 9% stake in MoneyGram. More than that, they continue to “offload” XRP on them in public.

If XRP were clearly a security, US regulators wouldn't have been dealing with this lawsuit for two years and "wouldn't now be facing a fair-notice defense."

Deaton responded to @JayVTheGreat's tweet that he expects Ripple to lose by saying "I'm not so sure. XRP is still 50% higher than a year ago.”

SEC enforcement attorneys analyzed Ripple's XRP in a June 13, 2018 memo and did not recommend a cease and desist order or enforcement if Ripple does not stop selling illicit securities.

Ripple CEO expects the case to close this year

Earlier this week, during the World Economic Forum in Davos, Ripple CEO Brad Garlinghouse expressed hope that the judge will make a decision on the lawsuit later this year, likely in the first half of the year.

He said all the paperwork had been made available to the judge and now all that was left to do was wait and see. However, Garlinghouse stressed that he doesn't see much chance of reaching an agreement with the SEC as Ripple's only requirement here is to declare XRP a non-securities, which the SEC obviously won't accept.

Binance coin prices found support at $240 against the US Dollar and surged above $260. The coin might aim more upside towards the $300 level.

Binance coin price started a recovery wave from the $240 support against the US Dollar. The price is now trading at $269.

The price is trading above $265 and has been above the 100 simple moving average (4 hours) for the past few hours.

The pair might rise and further scale above the $280 resistance zone.

Binance coin price climbs higher

For the past week, the Binance coin price formed a support base above the $240 level. There was a strong recovery wave that started above the $250 resistance zone.

The BNB token traded as high as $283 before consolidating its gains and is now trading above $265, near the 100 simple moving average (4 hours) and the 23.6% Lie retracement level of the Vertical move from swing low at $240.5 to high at $283.4.

On the potential gain, the bears are safeguarding the $280 and $285 opposition levels. The next major resistance is located at $292, above which the price is likely to test $300 in the near term. Any further gains could propel the price toward the $320 level.

Does BNB support price declines?

If BNB fails to clear the $280 resistance, a downside correction might begin. Support on the downside is near the $265 level.

The first key support is at $262. A break below this level could see an extended drop toward the $240 support.

BNB/USD MACD is sloping up into bullish territory.

The RSI for BNB/USD is currently above 50, which suggests that the cryptocurrency is in a bullish trend.

Currently, BNB support levels are $265.5, $262.5, & $255.

Key resistance levels – $280, $285, and $300.

#Crypto2023 #Crypto #Blockchain #BNB #Binance

Cryptocurrencies are growing in popularity and more and more people are trying to get a piece of the digital currency pie. This is especially true for those interested in cryptocurrency mining, which is now possible in a number of ways.

Cryptocurrency YouTuber Drew Vosk has analyzed the existing crypto mining methods, using his own experience as a guide to measure and predict their viability and suggest different ways to earn passive income from cryptocurrencies.

For a long time, mining using graphics cards or graphics processing units (GPUs) has been the top choice for most crypto enthusiasts to generate their digital wealth, but Vosk believes this method of cryptocurrency mining is no longer so viable. He believes that mining with CPUs is now more effective due to the higher performance they offer.

According to him, there are only four graphics cards today that make more money than they use power, and none of them are currently making more than 24 cents a day. Also, they cost between $600 and $2,000, leading the YouTuber to conclude that "GPU mining is absolutely dead."

However, there are several alternatives to GPU mining, and Vosk has analyzed several of them. Some of these are CPU mining, using a cloud mining service, or using a mining pool.

One of the most viable long-term crypto mining options is to use mining software like Evergreen Miner v2, which costs around $60 per month on average.

Mining rig prices range from $299 for a very basic Starter Kit to $2,799 for the Starter Kit Pro, which offers a mining rig that isn't noisy, doesn't produce a lot of heat, and doesn't cost a lot. Vosk recommends this mining rig for mining Chia (XCH).

Vosk also mentions bobcat miners like Bobber 500 as a way to mine helium (HNT) with 5G cellular and LoRaWAN radio coverage, but he doesn't think it's a very interesting or profitable option given his 18 helium hotspot -Miners only generated $1 per day.

Due to his negative experiences with Helium and NovaLabs, he doesn't have much faith in cryptocurrencies. However, he admits that whether people love it or hate it, 5G mining could be lucrative.

The Bitmain Antminer K7 is a viable alternative to GPU and CPU mining and the second most profitable miner after the KA3 model. However, the winning numbers can change drastically depending on market conditions.

He mentioned the Bitmain Antminer L7, which is available from mining rig reseller CoinMining Central for $10,725 each, while the K7 costs $5,728. This is slightly more expensive than Bitmain's website but comparatively more available.

Vosk also touched on Equihash mining, an algorithm that enables the mining of ASIC-resistant cryptocurrencies like Zcash (ZEC), which he recommends, although many have criticized it, calling the token "Z-Trash."

Currently, there is only one miner viable for mining Equihash cryptocurrencies – the Bitmain Antminer Z15 from 2020. Vosk does not see this miner as very viable as it is already three years old and he assumes that many new Equihash mining devices will replace it very soon.

Crypto mining is still profitable

Vosk advises those who already own devices that make a few dollars a day to keep using them, but also to analyze which option works best for them - do the math and compare electricity prices.

Another option is building a crypto mining rig from scratch, which may sound daunting to a beginner, but with a little help can become a fun and potentially very rewarding activity that could pay off in the future, depending on the Situation in the crypto space (and beyond).

However, if independence from the local grid and offsetting the power drain associated with mining Bitcoin (BTC) sounds more appealing, then using solar power to mine cryptocurrencies could be the right, albeit weaker, choice. The results could be different.

#Crypto2023 #Crypto #Mining #Blockchain

Just hours before the Flare ($FLR) token airdrop to eligible XRP holders, over 50 crypto exchanges have confirmed that they will be distributing $FLR tokens after the Flare Network completed the $FLR airdrop to exchanges.

Flare is a decentralized smart contract platform that uses a new programming language called Flare. It is designed to be compatible with the Ethereum Virtual Machine (EVM), which means it can run Ethereum smart contracts and dApps. The FLR token is used as a medium of exchange and a store of value within the Flare network. It is also used to reward participants for their contribution to the network, e.g. B. by validating transactions.

The Flare Network is a separate platform from XRP but is closely related to it. The $FLR token is intended for use on the Flare Network, while $XRP is a cryptocurrency used on the XRP Ledger. However, Flare has announced that it will support $XRP as a "First Class Citizen" on its platform, meaning that $XRP will be able to be used in the same way as the $FLR token within the Flare network will. This includes the ability to be used as a medium of exchange and a store of value, as well as the ability to be used in smart contracts and other dApps built on top of the Flare Network.

According to XRP influencer “XRP_Cro”, at least 52 crypto exchanges have confirmed their support for the $FLR token distribution, which is expected to start on January 9, 2023, at 23:59 UTC.

The FLR Token Distribution Event is coming soon!

Join the #Flare team and guests on Twitter tomorrow at 23:59 UTC for a live stream. Distribution begins a few minutes before the stream begins.

The Twitter thread by "XRP_Cro" (@stedas on Twitter) contains a lot of useful information about the $FLR airdrop and is highly recommended reading for the $XRP community.

On November 30, 2022, Flare Network announced that Binance will “provide eligible customers with the first 15% of Flare’s public token distribution (FLR).” This will be at the ratio of 0.1511 FLR for every 1.0000 XRP, which is held on Binance at the time of the snapshot on December 12, 2020.

The Flare team went on to say:

The FLR token public distribution will be completed over 36 months with a total ratio of 1.0073 FLR for every 1.0000 XRP. A comprehensive summary of FIP.01 and details on the two possible versions of flare tokenomics for the various governance vote outcomes are available for further reading. If Binance decides to support subsequent airdrops, another announcement will be made.

Flare token distribution will allow recipients to wrap and delegate their tokens to the Flare Time Series Oracle, which will begin earning inflated rewards for supporting the delivery of decentralized data to the network. If the community votes for FIP.01, it will also ensure recipients receive the maximum number of FLR tokens available to them.

This is the same airdrop that Binance previously confirmed support for. The only differences are that the token is now called Flare (FLR) and the token distribution date has been set for January 9, 2023. The eligibility criteria for the token distribution are unchanged and are based on an XRP snapshot completed on December 12, 2020.

Coinbase confirmed on December 12, 2022, that it will support the $FLR airdrop, but it hasn't yet promised to do so immediately like other major centralized exchanges.

#Crypto2023 #Crypto #Blockchain #XRP #FLR

The governor of France's central bank has advocated strict crypto regulations in the country, following a trend of global countries changing their regulations. He stressed the urgent need for such regulations to protect consumers and prevent financial crime.

France's central bank governor Francois Villeroy de Galhau said market volatility was a reason to introduce a mandatory licensing regime "as soon as possible".

The recent FTX bust in November of last year has worsened the situation in the crypto industry as it caused many investors to change their views on virtual assets, and the turmoil in the crypto market caused by the stock market collapse caused many countries to apply stricter regulations.

The European Union has decided to draft comprehensive crypto regulations in 2020 to meet the ever-changing needs for crypto regulations. However, the Markets in Crypto Assets (MiCA) law is not expected to come into force until 2024. Therefore, European crypto companies can legally operate without acquiring a license until the MiCA regulation comes into effect and establishes a licensing regime.

France issued strict crypto licensing regulations following the FTX episodes. This led to a decrease in the number of cryptocurrency exchanges in the country.

The French finance minister wants to scrap the clause that would require crypto companies to obtain a DASP license to operate in France. He suggested making it mandatory for every crypto company to obtain a DASP license.

He noted in a statement:

All the turmoil in 2022 feeds the belief that France should move to mandatory DASP licensing as soon as possible, rather than just registration.

In France, obtaining a DASP (Digital Assets Service Provider) license is currently optional. The EU Parliament has exempted crypto companies from licensing until 2026 when EU crypto rules will see a new licensing regime.

The governor wants to change the way crypto platforms are managed to save them from bankruptcy and give the Financial Markets Authority more control over these companies. So far, around 60 crypto companies have registered with the Financial Markets Authority, but they have yet to obtain a DASP license.

Cryptocurrency companies wishing to operate in the United States must obtain a DASP license. This license will oblige platforms to disclose more detailed business information to eliminate risks.

In December 2022, the French Finance Commission proposed an amendment to French tax law. The change would allow companies to deduct their research and development expenses from their taxable income. This would incentivize companies to invest in R&D and help them compete with foreign companies.

The governor is not the first to criticize the clause that allows crypto companies to operate with minimal regulatory interference. In light of the FTX crisis, Hervé Maurey, a member of the Senate Finance Commission, had already proposed in December last year to remove the clause that allows crypto providers to operate with little regulatory intervention until 2026.

Speaking to the Financial Times in mid-December, Hervé Maurey said tighter regulation of cryptocurrencies was needed to prevent them from being used for money laundering and other illegal activities.

The collapse of FTX was a detonation that contributed to a moment of realization and awareness. This has led a number of actors within the French system to believe that things need to be monitored more closely.

The Digital Currency Group (DCG) is currently under investigation by US authorities.

According to a report by Bloomberg, US prosecutors in New York are investigating internal transfers between the billionaire crypto conglomerate and its crypto lending arm, Genesis Global Capital.

The crypto lending company has long been in the spotlight after suffering heavy losses over the past year.

According to anonymous sources close to the investigation, federal prosecutors are interviewing certain employees and requesting office records.

A DCG spokesman denied that the American venture capital firm was under investigation.

“DCG has always conducted its business fairly, and we have no knowledge or reason to believe that DCG is under investigation in the Eastern District of New York.

However, Bloomberg's report suggests that DCG could be locked in a duel as the company is also under investigation by the Securities and Exchange Commission (SEC). So far, however, no party has filed charges against DCG, and neither have the two US agencies released any concrete information.

DCG and its relationship to Genesis

Genesis Global Capital's troubles began in the middle of last year, after the collapse of Three Arrows Capital. During that period, the crypto lending servicer saw heavy losses of $1.2 billion.

A few months later, FTX, a crypto exchange, filed for bankruptcy. This left Genesis with a liquidity crisis that caused the company to suspend withdrawals and loan requests.

To allay public concerns, DCG has consistently distanced itself from Genesis, stating that the company operates as an autonomous entity.

In a November 2022 circular to shareholders, DCG CEO and founder Barry Silbert disclosed all outstanding loans between the two companies. He went on to say that all loans were made on an arm's length basis and repayment was structured according to market interest rates at the time.

Will the Crypto Market Survive an Attack on DCG?

Digital Currency Group is one of the largest crypto conglomerates in the industry with an AUM value of $50 billion as of September 2021.

Genesis Global Capital owns other subsidiaries including Grayscale Investments, media publication CoinDesk, Foundry and Luno. These subsidiaries hold a variety of cryptocurrencies and assets, including bitcoin.

Should the investigation into DCG uncover information that casts a negative light on the conglomerate and its subsidiaries, it could have devastating effects on the entire crypto market.

Investors can remain calm until further information about the investigation is released. However, there is currently no indication that this will happen.

Cryptocurrencies have steadily recovered since the FTX collapse in November. At the time of writing, Bitcoin is up 2.4% over the past seven days and is currently trading at $16,937.52, according to data from Coinbase. Bitcoin is the largest cryptocurrency asset with a total market cap of $326.141 billion.

#Crypto #DCG #Blockchain

Cryptocurrency analytics platform Santiment reveals that profits from bitcoin whales were not paid out in fiat currencies after last year's bull market ended. This suggests that they may have used the cryptocurrencies to purchase other cryptocurrencies or assets instead.

According to Santiment, many bitcoin whales converted their profits into stablecoins when the 2021 bull market ended.

According to the analytics platform, the number of stablecoin addresses holding more than $100,000 worth of crypto assets has increased by 53% to 1,689% in a year.

In 2021, bitcoin whales dumped the digital currency, but instead of converting to fiat, they invested in stablecoins. These stablecoins, like USDT, USDC, DAI, and BUSD, have seen their value increase significantly with new major addresses.

Santiment has found that the number of major Tether (USDT) addresses has increased by 53% in a year, while the number of deep-pocket Dai (DAI), USD Coin (USDC) and Binance USD (BUSD) addresses has increased by 271 %, 926% and 1,689% respectively.

According to Santiment, smart contract protocol whales like Cardano (ADA) added over $60 million worth of the digital asset after unloading it late last year.

Cardano is experiencing a mini-surge right now, and a key indicator of a price breakout could be that they are holding between 1 million and 100 million ADA. After shedding 568.4 million coins in the last two months of 2022, they added back 217.2 million ADA at the beginning of 2023.

Currently, the $ADA price is $0.2769 at the time of writing.

#Bitcoin #Btc #ADA #Crypto

A new Web3 incubator aims to open up opportunities for the next generation of digital creatives. MATIC becomes the technical partner of an important collaboration.

Mastercard has partnered with Polygon Network to create a new Web3 incubator. This will enable the development of new blockchain-based projects.

Polygon Studios has partnered with Mastercard, a leading payment processor, and card scheme operator.

Polygon partners with Mastercard to create a Web3 incubator to help artists. This incubator will provide resources and support for artists who want to develop decentralized applications (DApps) using the Ethereum blockchain.

The collaboration between the two teams will accelerate the progress of the newly launched Web3 incubator announced at CES 2023 on Friday.

Mastercard's Web3 Incubator is designed to offer Web3 artists the opportunity to interact with their fan bases in a new, interactive way. This allows artists to optimize their revenues and promote new mainstream products.

Raja Rajamannar, Mastercard's Chief Marketing, and Communications Officer, said the company will support the incubators with marketing and technical advice.

The goal of the Emerging Artists Web3 Music Program is to provide emerging artists with the tools and skills they need to thrive in the digital music economy. The program provides access to experts and innovators in the field who will guide artists throughout the program and beyond on how to incorporate Web3 into their work.

Participants in Mastercard's Web3 incubator will learn how to shape their content and offer it as NFTs, build large and passionate communities, present themselves in the digital world, and so on.

Mastercard is expanding its bet on blockchain and the metaverse. The Company invests in startups that develop technologies that improve how consumers and businesses interact.

Polygon is the technical partner for the new program due to its impressive scaling performance and previous experience working with leading Web3 brands.

Polygon, a subsidiary of Mastercard, has announced that it will increase its presence in the Web3 segment. The company hosted the first Grammy event with Roblox in the specially created Metaverse, demonstrating its commitment to this growing industry.

In October 2022, the company also launched a cryptocurrency program for institutions together with Web3 payment processor Paxos Global.

#Web3 #Blockchain #Crypto #Matic

The South American country of Argentina will elect a new president in October 2023, and there is a reasonable chance that a pro-bitcoin candidate will be elected as the new head of state. Javier Gerardo Milei, who is currently a federal MP from Buenos Aires, has been compared by many to former US President Donald Trump and outgoing Brazilian President Jair Bolsonaro. If elected, Milei would be the first pro-Bitcoin president in South America.

Running for President of Argentina in 2023, Milei is a die-hard bitcoiner who preaches the Austrian school of economic thought. He has said in previous interviews that he wants to "kick the ass of the Keynesians and collectivists" and is giving away his monthly salary to fight a government that he says is "stealing" from Argentine citizens.

Bitcoin is the answer to central banks

In an interview, Milei was asked if he thinks it is possible to discuss bitcoin as a means of payment in Argentina. And the presidential candidate gave a response that could make Satoshi Nakamoto proud. Milei said the core issue people need to understand first is that "the central bank is a scam. It is a mechanism by which the politicians cheat the good people with the inflation tax".

Milei believes it is possible to discuss bitcoin as a form of payment in Argentina as long as people understand that the central bank is a scam and that politicians are using the inflation tax to scam the good people. That's a strong statement, and it's perhaps what Satoshi Nakamoto would have wanted to hear from any of his potential successors.

Milei said that Bitcoin represents money's return to its original creator, the private sector. Money is a private invention, and legal bidding is the key to getting the politicians to cheat you with the inflation tax. Bitcoin has an algorithm that says that one day it will reach a certain amount and then there will be nothing left, allowing it to compete with other currencies.

Milei reiterated his point, saying the problem is that governments and central banks don't want to give up legal tender because they can cheat people with an inflation tax. He concluded by saying that this was a problem.

Bitcoin is a digital currency that allows people to exchange money without the need for a central authority. Bitcoin is a response to central bank scams and aims to make money more private again. In economies with high inflation, the fraud problem is greater, so closing the central bank is a good idea.

How likely is Argentina's Bukele to rise?

According to an October 2022 AmericaElects poll, Milei is likely to lead the La Libertad Avanza coalition and has the support of 24% of respondents.

The poll was conducted before one of Milei's biggest political rivals, Cristina Fernández de Kirchner, withdrew her candidacy. With her retreat, Milei's lead could likely grow.

However, since the coalitions have not yet officially announced their candidates, the outcome of the elections in Argentina is still unclear.

#BTC #Bitcoin #Crypto #News

Decentralized finance token Solana (SOL) was one of the biggest losers from the crypto bear market of 2022. The correction accelerated towards the end of the year, with some of the losses attributed to the platform's close association with now-bankrupt crypto exchange FTX.

Solana, a blockchain company, has seen an increase in investor interest and has regained key positions in the market. As of Jan. 6, SOL had a market cap of $4.85 billion, representing an inflow of approximately $1.59 billion, up from $3.26 billion on Dec. 30.

Notably, Solana's price has benefited from increased buying pressure, which helped the token revisit key support levels. At the time of writing, SOL was trading at $13.09, up 43% for the week.

Solana and FTX's concerns

Solana saw significant losses in the $8-$10 range as concerns about the sustainability of the ecosystem arose due to its relationship with FTX and its founder Sam Bankman-Fried.

SBF is facing allegations of fraud, which has led to developers threatening to leave the platform. However, management claims that the focus should be on the network and not the price movements.

The impact of FTX has caused problems for Solana as the network has already faced criticism for regular outages.

Amid the concerns, Solana co-founder Raj Gokal shared the platform's future plans, noting that there is a lot of activity surrounding the L1 blockchains. The blockchains unite social networks, financial systems, nation-states, cultural movements, and payment networks.

Solana co-founder Raj Gokal shared the platform's future plans, noting that there is a lot of activity around the L1 blockchains. The blockchains unite social networks, financial systems, nation-states, cultural movements, and payment networks.

Solana recovers while BONK skyrockets

The recent surge in Solana price can be partially attributed to the hype surrounding Bonk (BONK), a cryptocurrency modeled after a Shiba Inu.

Bonk was distributed to the Solana Non-Fungible Token (NFT) communities and creators and has seen a sharp increase in rating since then. Consequently, the meme coin's impressive returns are viewed as a key driver of SOL's price while the broader market remains subdued.

#SOL #DeFi #Crypto

Animoca Brands' Web3 mutual fund has revised its first-quarter fundraising target to $1 billion from $2 billion, according to Bloomberg News - amid "challenging" market conditions.

Animoca Brands CEO Yat Siu told Bloomberg:

“We desire to meet the main quarter target, however, it will be a test. The market is difficult at the moment, but we see a lot of interest".

The Animoca Capital fund will invest in Web3-related projects. Former Morgan Stanley chief executive Homer Sun will co-manage the fund.

According to Siu, Animoca is in talks with potential investors who may be interested in Animoca Capital's support. Siu also said that the targeted $1 billion will be used to support Metaverse projects.

As of April 2022, Animoca had approximately $98 million in cash, $870 million in liquid cryptocurrencies, and $4 billion in unbalanced coins.

In 2022, the company raised $358 million in funding. It has stakes in over 380 companies and has accepted a large investment from Temasek.

Siu said Animoca has no plans to raise funds itself in the near future. Instead, the company will focus its funding efforts on building a web3 ecosystem.

#Web3 #Blockchain

Cardano (ADA) is expected to have high expectations for 2023. In the new year, Ethereum (ETH) could deliver on some promises made in 2021 and 2022 that the smart contract blockchain failed to deliver.

One of Cardano's main promises is the arrival of stablecoins. These aren't new, but they're one of the top expectations of ADA investors as a stable asset could help Cardano grow significantly in the decentralized finance (Defi) space.

While maintaining a stablecoin peg for multiple Layer 1 projects is one of the biggest issues in 2022, the Ethereum killers are more optimistic than pessimistic about this launch, which is set to happen earlier this year.

The second stablecoin is called OST and will be a euro-backed asset.

Two stablecoins are expected on the Cardano network in Q1 2023: The first is a centralized stablecoin called USDA, which will be a US dollar-backed asset. To maintain parity, he will use fiat assets and still get the benefits of Cardano, such as B. the network efficiency. The second stablecoin is called OST and will be a euro-backed asset.

Another highly anticipated stable asset is Djed, a token developed in collaboration with Coti. The stablecoin will keep up with its stake to the dollar through Cardano's shrewd agreement plan. Djed will have a reserve of base currencies that he will mine and burn other stable assets and reserve currencies to smooth out fluctuations.

Hydra, Tier 2 scalability solution

In 2022, Cardano took a big step towards network scalability with the Vasil hard fork. This involved making changes to the Cardano blockchain that make it more efficient. However, previous blockchains such as Bitcoin (BTC) and Ethereum have shown that a scalable network is an ongoing concern for cryptocurrencies to be used in everyday life.

Cardano is interested in further developments in this area, with the preparation for Hydra being a solution for layer 2 scalabilities. Hydra aims to improve transaction speed through low latency and high throughput without sacrificing low transfer rates.

The Hydra layer is a protocol intended to be stacked on top of Cardano. It will allow developers to add complex and specialized protocols to the platform. Charles Hoskinson, the founder of Cardano, believes this layer can facilitate other things like fast finishing, microtransactions, and microgorging.

This is one of the most important developments for the cryptocurrency team. After all, the whitepaper was published in March 2020.

Expectations of the Cardano blockchain include oracles. This modality is crucial because it connects on-chain and off-chain data. An example of the growth of oracles is Chainlink (LINK), which is helping bring this modality to smart contracts on Ethereum and helping them reach their true potential. This can also contribute to the market acceptance of the Cardano network.

Examples of oracle implementations include atomic swaps, cross-chain liquidity pools, and pricing based on mutually agreed oracle dates. With the assistance of this critical region for the blockchain business, Cardano further qualifies as a significant Ethereum contender.

In 2022, a decentralized oracle called Charli3 was released for Cardano. This oracle differs from older oracles as it avoids problems with flexibility and scaling. The next oracles for Cardano are expected to be released in 2023.

Inside the crypto business, coin consumption is a deflationary instrument used to eliminate coins from dissemination forever. Most cryptocurrency projects, including Binance, periodically burn coins to maintain the value of their digital assets and create a deflationary effect.

In the case of Binance, the crypto exchange launched the program in late 2017 and has so far burned over 38 million tokens through quarterly burns. The crypto exchange has taken care of destroying 100 million BNB tokens through its quarterly burn, which accounts for 50% of its circulating supply.

BNB uses two coin-burning mechanisms. The first mechanism is to burn a portion of the tokens spent on the BNB chain for transaction fees, and the second is its quarterly BNB burn event.

Already, the quarterly consumption occasion depended on income produced from the Binance-incorporated trade. But under the new BNB auto-burn program, the number of tokens to be burned is calculated using a formula based on the total number of blocks produced on the Binance Smart Chain and the average dollar value of BNB during the quarter.

By July 2022, Binance had completed 20 BNB coin burn events. In total, 38,683,447.66 BNB tokens have been destroyed, reducing its initial 200M supply by 19.34%.

#Binance #BNB #Crypto #bnbautoburn

Cryptocurrencies like Bitcoin and Ethereum often mirror each other's price movements, but over the past two weeks, two new altcoins have outperformed Bitcoin. Cosmos and Solana prices have increased by a significant amount compared to Bitcoin.

Looking at Glassnode's data, the Cosmos network is doing well, up nearly 15% versus Bitcoin over the past two weeks. However, SOL (the Solcrypto token) is doing better than Bitcoin, up nearly 8% over the past 14 days despite seeing a significant drop on December 29, 2022.

Since early November, SOL's price has fallen significantly as its ties to FTX and its founder Sam Bankman-Fried (SBF) have been questioned. The token lost around 55% of its value in November after FTX and Alameda Research filed for bankruptcy.

Ethereum (ETH) is the second largest cryptocurrency by market cap, closely trailing Bitcoin since December 21. Throughout the course of recent weeks, ETH returns have been somewhat better compared to Bitcoin. ETH was exchanging around $1,207 at the hour of composing, down 0.11% over the course of the last week.