Binance, one of the world's leading cryptocurrency exchanges, has recently completed the 11th burn of its native token, LUN. This burn event demonstrates Binance's dedication to maintaining a robust tokenomics model and underlines its commitment to enhancing the value proposition of the LUN token. In this article, we delve into the details of the LUN burn, explore its significance, and discuss the potential impact on the Binance ecosys tem and the broader cryptocurrency market.

Understanding Token Burns:

Token burns are a mechanism employed by many blockchain projects to reduce the supply of their native tokens. The burning process typically involves permanently removing a certain number of tokens from circulation, effectively decreasing the total supply. By reducing the supply, token burns aim to create scarcity and increase the value of the remaining tokens.

Binance's 11th LUN Burn:

Binance's LUN token, which serves as the native utility token of the Binance ecosys tem, has undergone its 11th burn. The burn event involved the destruction of a significant number of LUN tokens, permanently removing them from circulation. This reduction in the token supply can have several positive implications for LUN holders and the overall Binance ecosys tem.

Increased Scarcity and Value Appreciation: The token burn reduces the circulating supply of LUN, creating a relative scarcity in the market. As the supply decreases, the demand for LUN may potentially increase, driving up its value. This can benefit existing LUN holders and incentivize new investors to participate in the Binance ecosys tem.

Enhanced Tokenomics: By conducting regular token burns, Binance actively manages its tokenomics model. The controlled reduction in supply helps maintain a healthy balance between token availability and demand, potentially leading to a more stable and prosperous ecosys tem.

Investor Confidence: Token burns demonstrate Binance's commitment to token value appreciation and the long-term sustainability of its ecosys tem. By actively reducing the supply and aligning token economics with market dynamics, Binance aims to instill confidence in investors and foster a positive perception of LUN as a valuable asset.

Market Perception and Competitive Advantage: Token burns can positively impact the perception of a project within the broader cryptocurrency market. By demonstrating a proactive approach to token management and value preservation, Binance differentiates itself from other exchanges and enhances its competitive advantage.

Binance's 11th LUN burn highlights the exchange's commitment to tokenomics and value appreciation within the Binance ecosys tem. By reducing the circulating supply of LUN, Binance aims to create scarcity, potentially leading to increased demand and value for the token. This burn event reinforces Binance's position as a market leader and demonstrates its dedication to building a sustainable and prosperous cryptocurrency ecosys tem. As the LUN burn continues to shape the Binance ecosys tem, stakeholders and investors will closely monitor the impact on token value and the overall market perception of Binance and its native token, LUN.

#bykaranteli #Binance

In a recent revelation, Ethereum co-founder Vitalik Buterin disclosed that he had staked only a small portion of his Ether (ETH) holdings. This news has sparked interest and speculation within the cryptocurrency community, as Buterin is one of the most prominent figures in the industry and his actions often carry significant weight.

Staking has become a popular trend within the Ethereum ecosys tem, as it allows users to lock up their ETH in a smart contract and participate in the network's proof-of-stake consensus mechanism. By doing so, stakers contribute to the security and operation of the Ethereum blockchain and are rewarded with additional ETH as an incentive.

Given Buterin's influential role in Ethereum's development, it was widely anticipated that he would allocate a substantial portion of his ETH holdings towards staking. However, his recent disclosure revealed that he had chosen to stake only a small fraction of his total ETH holdings, surprising many in the community.

There are several possible reasons why Buterin made this decision. Firstly, it could be a strategic move to diversify his holdings and manage risk. By keeping a significant portion of his ETH liquid, Buterin retains flexibility and the ability to pursue other investment opportunities within and beyond the cryptocurrency space.

Secondly, Buterin's decision could be motivated by his long-term vision for Ethereum's ecosys tem. By maintaining a liquid position, he can actively participate in various projects, investments, and initiatives that contribute to the growth and development of Ethereum. This approach allows him to allocate resources where he believes they can have the most impact.

It's important to note that Buterin's decision does not diminish the significance of staking within the Ethereum network. Staking remains a crucial component of Ethereum's transition from a proof-of-work to a proof-of-stake consensus mechanism. Thousands of other Ethereum holders have actively participated in staking their ETH, demonstrating their commitment to the network and its future.

Buterin's disclosure also highlights an important aspect of personal financial management within the cryptocurrency industry. While industry figures like Buterin have a substantial influence on market sentiment, it's essential for individuals to make their own informed decisions based on their financial goals, risk tolerance, and investment strategies. What works for one person may not be suitable for another.

Furthermore, Buterin's decision to stake only a small portion of his ETH holdings does not imply a lack of confidence in Ethereum or its future prospects. As a co-founder, his dedication and commitment to the project remain strong. It's worth remembering that Buterin's contributions extend beyond his personal holdings, as his vision and technical expertise have been instrumental in shaping Ethereum into one of the leading blockchain platforms.

Overall, Buterin's revelation about staking only a small portion of his ETH holdings serves as a reminder that individual investment decisions within the cryptocurrency industry can vary widely. It highlights the importance of considering personal circumstances, risk management, and long-term goals when making investment choices. As the industry continues to evolve, it will be interesting to observe how other prominent figures navigate their investment strategies and contribute to the growth and development of blockchain ecosys tems like Ethereum.

#bykaranteli #bitcoin

An unknown cause to the interruption

The temporary interruption in the process of finalizing blocks, or “non-finalization,” refers to the condition where blocks on the Ethereum blockchain were not validated and added to the blockchain in the usual manner.

This interruption could impact the confirmation and settlement of transactions on the Ethereum network until the issue is resolved and the finalization process resumes.

In contrast to claims on Twitter that the beacon chain “halted,” it is important to clarify that such information is misleading.

In reality, the finalization process experienced a delay of approximately 19 minutes.

Unfortunately, the exact cause of this interruption is currently unknown. However, the design of the Ethereum proof-of-stake blockchain incorporates resilience mechanisms to address such situations.

Prysmatic Labs co-founder Preston van Loon also informed the public that developers were “investigating current mainnet issues… Will post an update once we learn something.”

Roughly an hour later, at 5:40 pm, the developer wrote:

Finality has been restored. We do not know the root cause yet, but something happened to cause several client implementations to work really hard to keep up with the chain.

Smooth operation 

These incidents arise amidst ongoing discussions among Ethereum developers regarding block validity criteria and an upcoming hard fork named “Dencun.” 

The planned upgrade, incorporating Ethereum Improvement Proposal (EIP) 4844, or “proto-danksharding,'” is anticipated.

The importance of EIP-4844 lies in its potential to address a major challenge faced by Ethereum: scalability.

As the popularity of Ethereum grows and the demand for decentralized applications (dapps) increases, scalability becomes crucial to ensure a smooth and efficient user experience.

By introducing sharding through EIP-4844, Ethereum aims to significantly improve its capacity to handle a higher volume of transactions, enhance network performance, and minimize the number of interruptions that may occur in the future.

#Binance #ETH #beth #bykaranteli

On a fateful day when Amazon Web Services (AWS) experienced a significant outage, leaving numerous websites and services inaccessible, Ethereum, the world's second-largest blockchain platform, demonstrated its resilience by continuing to function without interruption. This article explores how Ethereum managed to survive while AWS faced a collapse, highlighting the decentralized nature of blockchain technology and the robustness of the Ethereum network.

The AWS Outage: A Brief Overview

Amazon Web Services, a cloud computing platform that powers a vast array of websites and services worldwide, suffered a major outage due to technical issues. This unexpected incident resulted in widespread disruptions, with many businesses and individuals experiencing service interruptions and website downtime.

Ethereum's Decentralized Architecture

Ethereum's survival amidst the AWS collapse can be attributed to its decentralized architecture. Unlike traditional cloud computing platforms that rely on a centralized infrastructure, Ethereum operates on a network of thousands of interconnected computers, known as nodes, spread across the globe. These nodes collaborate to maintain the blockchain network and validate transactions.

Decentralization and Redundancy

The decentralized nature of Ethereum ensures that no single point of failure exists. Each node in the network stores a copy of the entire blockchain, making it highly redundant. Even if a significant number of nodes experience downtime, the network can continue to function as long as a sufficient number of nodes remain operational.

Consensus Mechanism: Proof of Work

Ethereum's consensus mechanism, known as Proof of Work (PoW), also contributes to its resilience. PoW requires network participants, known as miners, to compete to solve complex mathematical puzzles in order to validate transactions and add them to the blockchain. This process ensures that the network remains secure and immune to single points of failure.

Immutable Transactions and Smart Contracts

Ethereum's blockchain is immutable, meaning that once a transaction is recorded on the blockchain, it becomes virtually impossible to alter or manipulate. This feature guarantees the integrity of the transactions, preventing any tampering or censorship even in the face of external disruptions such as an AWS outage.

Distributed Applications (dApps) on Ethereum

One of Ethereum's key strengths is its ability to support decentralized applications, known as dApps. These applications run on the Ethereum blockchain, utilizing its smart contract functionality. Since dApps operate independently of centralized servers, they are less susceptible to single points of failure and can continue functioning during infrastructure outages.

Ethereum's Enduring Impact

The survival of Ethereum amidst the AWS collapse highlights the long-term impact and potential of blockchain technology. It showcases the benefits of decentralization, immutability, and resilience that can be achieved through distributed networks. As blockchain technology continues to evolve and gain broader adoption, Ethereum's robustness serves as a testament to the transformative power of decentralized sys tems.

The AWS outage and Ethereum's ability to withstand it exemplify the fundamental differences between centralized and decentralized sys tems. While AWS relies on a centralized infrastructure vulnerable to single points of failure, Ethereum's decentralized architecture, consensus mechanism, and distributed applications enable it to function reliably even in the face of major disruptions. The incident reinforces the importance of blockchain technology as a catalyst for a more resilient and decentralized future.

#bykaranteli #Binance

The Ethereum network recently experienced a brief period of non-finalization on its Beacon chain, sparking rigorous discussions among key figures in the Ethereum community. The event served as a testament to the resilience of the Ethereum chain, which continued processing transactions as usual despite the slowdown of blocks.

The Beacon Chain, Ethereum’s Proof of Stake (PoS) blockchain, is a critical component of the Ethereum 2.0 upgrade.

Ansgar Dietrichs, a researcher at the Ethereum Foundation, confirmed the incident via a series of tweets, underscoring the robustness of the system — a fundamental attribute essential in sustaining investor trust in this cutting-edge blockchain platform.

Superphiz, an Ethereum Beacon Chain community health consultant, was one of the first to report the incident. He reassured the community by highlighting the inherent resilience of the blockchain.

“The beacon chain stopped finalizing about thirty minutes ago. I don’t know why yet, but in general the chain is designed to be resilient against this, transactions will continue as usual and finalization will kick in when the problem is resolved.”

Back to business

The Beacon Chain swiftly resumed its normal operation, returning to finalization status. This rapid recovery underscores the system’s robustness and its ability to handle potential hitches in its stride.

Ethereum 2.0’s Beacon Chain is designed to ensure enhanced transaction speed and scalability while reducing energy consumption. This incident provides real-world evidence of its capability to maintain operation continuity, even in the face of unexpected issues.

Terence, another influential figure in the Ethereum community, confirmed that the mainnet had finalized and that an investigation was underway. He promised to provide further updates as more information about the incident became available.

The brief incident underscores the robustness of the Ethereum network, which is designed to withstand periods of non-finalization while maintaining normal transaction processing. It also highlights the transparency and responsiveness of the Ethereum community in addressing and communicating about such issues.

#ETH #Binance #beaconchain #bykaranteli

The relationship between US Treasury yields and Bitcoin price is complex and influenced by various factors. While rising Treasury yields can have an impact on the broader financial markets, their specific effect on Bitcoin price is not straightforward. It's important to understand the dynamics involved to gain a better perspective on this relationship.

1.    Bond Market and Risk Sentiment: Rising US Treasury yields often indicate an increase in bond market interest rates. When bond yields rise, it can make fixed-income investments more attractive relative to riskier assets like stocks or cryptocurrencies. As a result, investors may shift their capital allocation, potentially leading to a decrease in demand for Bitcoin and a subsequent impact on its price.

2.    Inflation Concerns: Rising Treasury yields can also reflect inflation concerns. If investors expect higher inflation, they may demand higher yields to compensate for the eroding purchasing power of future bond payments. In such cases, Bitcoin, often touted as a hedge against inflation, may attract investors seeking to protect their wealth from potential currency devaluation. This increased demand for Bitcoin could positively influence its price.

3.    Market Perception and Sentiment: The relationship between Treasury yields and Bitcoin price can also be influenced by market perception and sentiment. If rising yields are perceived as a positive sign of economic growth and stability, it may boost investor confidence in traditional markets. This could lead to increased risk appetite and a potential decrease in demand for Bitcoin as investors move towards traditional investments. Conversely, if rising yields are perceived as a sign of economic uncertainty or market instability, investors may seek refuge in alternative assets like Bitcoin, driving its price higher.

4.    Interplay with Other Factors: It's crucial to note that the relationship between Treasury yields and Bitcoin price is just one piece of the puzzle. Bitcoin's price is influenced by a myriad of other factors, including market liquidity, adoption trends, regulatory developments, geopolitical events, and macroeconomic indicators. These factors can often outweigh the impact of Treasury yields on Bitcoin's price movement.

Conclusion: While there may be some correlation between rising Treasury yields and Bitcoin price, it's essential to consider the broader market context and multiple factors that contribute to Bitcoin's volatility. It's advisable to assess the interplay of various fundamental and technical factors and monitor market trends rather than relying solely on the relationship between Treasury yields and Bitcoin price to make investment decisions. As with any investment, conducting thorough research, diversifying one's portfolio, and consulting with financial professionals can help navigate the complexities of the market effectively.

 #bykaranteli #Binance

Visa, one of the world's largest payment technology companies, has recently made headlines by embracing Ethereum's Goerli testnet. This move signifies Visa's growing interest in blockchain technology and its commitment to exploring the potential of decentralized finance (DeFi) applications. In this article, we delve into the details of Visa's involvement with Ethereum's Goerli testnet and explore the implications it holds for the future of blockchain-based payment solutions.

Understanding the Goerli Testnet

Testnets in Blockchain Development: Testnets are blockchain networks specifically designed for developers to test and experiment with new applications, smart contracts, and protocols without involving real-world assets or transactions. They serve as a safe environment for refining and validating blockchain technology before deployment on the mainnet.

Goerli Testnet: The Goerli testnet is an Ethereum-based testing environment that aims to replicate the functionalities and features of the Ethereum mainnet. It provides developers with a reliable and stable platform to test their applications, ensuring compatibility and functionality before releasing them to the broader Ethereum network.

Visa's Collaboration with Ethereum's Goerli Testnet

Visa's Interest in Blockchain Technology: Visa's involvement with Ethereum's Goerli testnet signals the company's recognition of the transformative potential of blockchain technology in the payments industry. By exploring the capabilities of decentralized networks, Visa aims to stay at the forefront of innovation and adapt to the evolving landscape of digital finance.

Support for Developers and the DeFi Ecosys tem: Visa's collaboration with Ethereum's Goerli testnet is primarily focused on supporting developers and fostering the growth of the DeFi ecosys tem. By providing access to its infrastructure and resources, Visa enables developers to experiment with blockchain-based payment solutions, decentralized applications, and smart contracts.

Implications for Mainstream Adoption

Enhanced Scalability and Efficiency: Ethereum's Goerli testnet allows Visa to assess the scalability and efficiency of blockchain technology for processing transactions at scale. Through this collaboration, Visa can gain valuable insights into the potential advantages of decentralized networks, such as faster settlement times, lower costs, and improved transparency.

Integration with Traditional Payment Sys tems: Visa's involvement with Ethereum's Goerli testnet highlights the company's exploration of ways to integrate blockchain technology into its existing payment infrastructure. By leveraging the benefits of blockchain, Visa aims to enhance the efficiency, security, and interoperability of its payment sys tems, ultimately benefiting consumers and businesses worldwide.

Advancing DeFi Solutions: Visa's collaboration with Ethereum's Goerli testnet also contributes to the development of decentralized finance solutions. DeFi has gained significant traction in recent years, offering innovative financial products and services powered by blockchain technology. Visa's participation in the Goerli testnet demonstrates its commitment to exploring the potential of DeFi and driving its adoption in the mainstream financial ecosys tem.

Visa's embrace of Ethereum's Goerli testnet represents a significant step towards the integration of blockchain technology into the traditional payments industry. By actively participating in the development and experimentation of decentralized networks, Visa showcases its commitment to staying at the forefront of technological advancements. Through this collaboration, Visa aims to explore the scalability, efficiency, and potential benefits that blockchain-based solutions can bring to the global financial landscape. As Visa continues to embrace emerging technologies, the industry can look forward to the mainstream adoption of blockchain-based payment sys tems, ultimately revolutionizing the way we transact and interact with digital assets.

#bykaranteli #Binance

Litecoin (LTC), one of the pioneering cryptocurrencies in the industry, has been at the center of attention in the last 10 days. As the crypto community eagerly awaits the upcoming halving event, Litecoin's price and market activity have experienced significant fluctuations. In this article, we delve into the key developments surrounding Litecoin in the past week, explore the concept of halving, and analyze its potential impact on the cryptocurrency's future.

Litecoin's Price Performance:

Over the last 10 days, Litecoin's price has been characterized by notable volatility. The cryptocurrency initially saw a surge in price as bullish sentiment swept the market. Litecoin's price reached a multi-month high, fueled by increasing adoption, growing interest from institutional investors, and the broader market's bullish momentum.

The Halving Event:

One of the most anticipated events in Litecoin's history is its halving, which is scheduled to occur every 840,000 blocks. The halving, a programmed mechanism within Litecoin's blockchain protocol, involves reducing the block reward miners receive for validating transactions by half. The event is designed to control inflation and ensure a more sustainable supply of Litecoin over time.

Litecoin's halving event, which happens approximately every four years, is expected to occur soon after the publication of this article. Traders and investors are closely monitoring this event, as previous halvings have historically impacted Litecoin's price and market dynamics.

Historical Halving Impact:

In the past, Litecoin's halving events have resulted in significant price movements. Both the 2015 and 2019 halvings saw notable increases in Litecoin's price in the months leading up to and following the events. The concept of scarcity introduced by halving often drives demand, as investors anticipate a potential reduction in supply. However, it is essential to remember that past performance does not guarantee future results, and other factors can also influence Litecoin's price.

Market Sentiment and Speculation:

As with any major event in the cryptocurrency market, halvings can fuel speculative trading and investor sentiment. Leading up to the halving, traders may engage in "buy the rumor, sell the news" behavior, resulting in increased price volatility. It is crucial for investors to approach Litecoin's halving with caution, keeping in mind that short-term price movements can be influenced by market sentiment and speculation.

Impact on Mining Activity:

Litecoin's halving also has implications for miners. With the block reward cut in half, miners' revenue is reduced, potentially impacting the profitability of mining operations. Some miners may decide to halt their mining activities temporarily until market conditions become more favorable. This, in turn, can affect the network's hash rate and mining difficulty.

As Litecoin approaches its highly anticipated halving event, the cryptocurrency has experienced significant price volatility in the last 10 days. Investors, traders, and enthusiasts are closely watching the market for signs of potential price movements following the halving.

Litecoin's halving is a crucial event that underscores the cryptocurrency's commitment to a sustainable supply schedule. While historical trends suggest possible price increases after the halving, investors should exercise caution and consider various factors that can influence Litecoin's price.

As always, it is essential for investors to conduct thorough research, stay informed about market developments, and exercise responsible risk management when engaging in cryptocurrency trading. The cryptocurrency market is highly speculative and can be subject to sudden changes in sentiment, making it crucial for investors to approach Litecoin's halving with a prudent and long-term perspective.

#bykaranteli #Binance #litecoin

Who Are the Founders of Aave?

Aave, and its predecessor ETHLend, were founded by Stani Kulechov. At the time, he was frustrated at the lack of lending applications on Ethereum — and his project was built before decentralized finance even existed.

Kulechov is a serial entrepreneur who went to law school and began programming when he was a teenager. He was an early adopter in the blockchain space. The CEO has said that he wanted to rebrand ETHLend as Aave so the company could offer a wider range of services beyond Ether lending.

According to Kulechov, Aave’s main target market are people who are already engaged in the cryptocurrency community.

#Binance #bykaranteli #eth2.0

What Is The Sandbox (SAND)?

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.

Who Are the Founders of The Sandbox?

Arthur Madrid is co-founder and CEO at Pixowl, and he is one of the driving forces behind The Sandbox. He graduated with a degree in economics from Université Paris Dauphine in 2000. Madrid’s professional career began as a consultant for Eurogroup Consulting France, but he soon found his entrepreneurial spirit. In 2001, he founded 1-Click Media, which was later purchased by Ipercast.

Sebastien Borget is also a co-founder at Pixowl and serves as the COO of the company. He graduated with a degree in computer systems networking and telecommunications from Institut national des Télécommunications in 2007. His professional career began as a project lead for 1-Click Media, and since then, Arthur Madrid and Sebastien Borget have been an entrepreneurial duo. They founded Pixowl in 2011 and have been continually working on projects together.

The Sandbox Play-to-Earn Model

The dynamic game was developed according to the Play-to-Earn (P2E) business model. It allows players to participate in the in-game economy, contribute and receive benefits in the form of digital assets (cryptocurrencies and NFTs). Thus, players are constantly creating valuable items that can be sold on the marketplace. The game not only unleashes the creativity of users from all over the world but also empowers them to shape the universe with NFTs.

The Sandbox is building a decentralized digital platform for a growing gaming community, combining Decentralized Autonomous Organizations (DAO) and non-fungible tokens (NFTs). In its universe, users can play the role of both creators and players.

The Sandbox Products

The Sandbox metaverse consists of three products. Game Maker is a set of tools that allows users to create and test 3D games on their LAND using ASSETS. The program enables editing game elements, such as environments or characters, and NFTs without requiring advanced programming skills.

VoxEdit is a free software for platform users. The application has been developed for 3D voxel modeling and creation of NFTs. Voxels are 3D pixels that can be edited and shaped via Voxel Editor. The VoxEdit tool offers players to create avatar-oriented equipment, like clothes, weapons, pets. It is also used to generate items for interaction on The Sandbox platform. Virtual items can be monetized as NFTs, namely moved from VoxEdit to The Sandbox Marketplace, turned into ASSETS, and then sold. All transactions are implemented in $SAND.

The Sandbox Marketplace launched in the spring 2021. The platform is an NFT marketplace where players can upload, release and sell their NFT creations (ASSETS) with SAND tokens. The InterPlanetary File System (IPFS) is used to store all information about ASSETS.

What Makes The Sandbox Unique?

The Sandbox is a unique platform because it introduces blockchain technology to the world of gaming. The gaming industry is a huge untapped market when it comes to the adoption of blockchain tech, and Pixowl saw that in 2011. By creating a universe where gamers can create and collect blockchain-based assets, the Sandbox aims to revolutionizes the market. It makes a niche for itself in the global market of gaming.

By focusing on user-generated content, the Sandbox creates a metaverse of involved players who contribute to the platform’s further development. Not only that, by introducing the SAND token, the Sandbox promotes decentralized governance and allows users to share their views and ideas about the development of the project. Thanks to the evolving technology, decentralized governance is becoming a must-have in blockchain-based projects.

The company started out with a bang and attracted support and investments from numerous big names in the gaming industry. These include brands like Atari, Helix and CryptoKitties.

#bykaranteli #Binance

CryptoGPT is an Ethereum zk Layer-2 blockchain. It uses a low-cost, secure, safe, and private zkRollup technology to turn data into a valuable asset- used in AI models to power value creation in many industries. It also builds a Data-to-AI Engine that collects, processes, encrypts and packages data for commercial applications.

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What Is Maker (MKR)?

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.

Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.

MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself.

The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum.

Who Are the Founders of Maker?

MakerDAO, the first entity inside the larger Maker ecosystem, was created in 2015 by Rune Christensen, an entrepreneur from Sealand, Denmark.

Christensen graduated from Copenhagen University with a degree in biochemistry and studied international business at the Copenhagen Business School. Prior to MakerDAO, he co-founded and managed the Try China international recruiting company.

What Makes Maker Unique?

As of October 2020, DAI is one of the most popular stablecoins (cryptocurrencies whose prices are pegged to the USD or another traditional currency). It is the 25th largest cryptocurrency at over $800 million in market capitalization and it has more active addresses than USDT — the largest stablecoin on the market.

MKR’s unique proposition lies in the fact that it allows its holders to directly participate in the process of governing DAI. Every holder of Maker tokens has the right to vote on a number of changes to the Maker Protocol, with their voting power depending on the size of their MKR stake. Some of the aspects of the protocol the holders can vote on are:

Adding new collateral asset types to the protocol, allowing users to submit new cryptocurrencies to mint more DAI;

Amend the risk parameters of existing collateral asset types;

Change the DAI Savings Rate: holders of DAI tokens can earn savings by locking them in a special contract, and the Savings Rate impacts the profitability of that contract;

Choose the oracles — entities whose goal is to supply trustworthy off-blockchain data to the Maker ecosystem;

Upgrades to the platform.

This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens and correspondingly affects their value.

#bykaranteli

In a groundbreaking move for the cryptocurrency industry, Worldcoin, a verified user project, has emerged with a unique proposition: feeless transactions. By removing transaction fees, Worldcoin aims to revolutionize the way cryptocurrencies are utilized, making them more accessible and cost-effective for users worldwide. In this article, we delve into the details of Worldcoin, exploring its objectives, technology, and potential impact on the crypto landscape.

The Concept of Verified User Projects:

a. Understanding Verified User Projects: Verified user projects, like Worldcoin, aim to create a cryptocurrency eco sys tem that promotes identity verification and eliminates barriers to adoption. These projects prioritize user trust and compliance by ensuring that participants meet specific verification requirements.

b. Advantages of Verified User Projects: By implementing identity verification protocols, verified user projects can enhance security, mitigate fraud risks, and foster regulatory compliance. These projects often seek to bridge the gap between traditional financial sys tems and the world of cryptocurrencies, appealing to a broader audience of users.

Introducing Worldcoin and Its Feeless Transaction Model:

a. The Vision behind Worldcoin: Worldcoin aims to build a global, inclusive digital currency that transcends borders and offers feeless transactions to its users. By removing transaction fees, Worldcoin seeks to address one of the key pain points of cryptocurrency adoption and usage.

b. Technical Implementation: Worldcoin utilizes innovative blockchain technology to support its feeless transaction model. The project incorporates a combination of consensus mechanisms, such as proof-of-stake (PoS) and sharding, to achieve scalability and efficiency while ensuring the security and integrity of the network.

The Potential Impact of Feeless Transactions:

a. Accessibility and Inclusivity: The elimination of transaction fees has the potential to significantly enhance the accessibility of cryptocurrencies, making them more appealing to individuals who have been deterred by high transaction costs. Feeless transactions can also benefit users in regions with limited access to traditional banking services.

b. Microtransactions and Everyday Use: The feeless transaction model opens doors for microtransactions and everyday cryptocurrency usage. Users can conduct small-value transactions without worrying about fee structures, making cryptocurrencies a viable option for various daily activities, such as purchases, remittances, and micropayments.

c. Economic Efficiency: Feeless transactions can contribute to increased economic efficiency within the cryptocurrency ecosys tem. By removing transaction fees, users can retain more of their funds during transfers, which can incentivize greater adoption and utilization of cryptocurrencies.

Challenges and Considerations:

a. Scalability and Network Security: As with any blockchain-based project, scalability and network security are critical factors to consider. Worldcoin must ensure that its feeless transaction model can handle a high volume of transactions without compromising security or network performance.

b. Sustainability and Revenue Model: Worldcoin's feeless transaction approach raises questions about the sustainability of the project. It will be important for the team to establish alternative revenue streams or mechanisms to ensure the long-term viability of the platform.

Wor ldcoin's feeless transaction model presents an intriguing development in the world of cryptocurrencies. By removing transaction fees, Worldcoin aims to break down barriers to adoption, improve accessibility, and promote everyday use of digital currencies. While the project offers exciting possibilities, it will face challenges in terms of scalability, network security, and establishing a sustainable revenue model. Nonetheless, the concept of feeless transactions has the potential to reshape the cryptocurrency landscape, encouraging other projects to explore innovative ways to enhance user experience and foster mass adoption.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Cryptocurrency investments carry risks, and readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.

#bykaranteli #Binance

What Is BitTorrent (BTT)?

BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years.

Originally released in July 2001, BitTorrent was purchased by blockchain platform TRON in July 2018.

Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON’s own blockchain, using its TRC-10 standard.

According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.

Who Are the Founders of BitTorrent?

The original BitTorrent is the brainchild of Bram Cohen, a developer and entrepreneur who himself has since become well known in the cryptocurrency arena.

Cohen has explained that he designed BitTorrent to usurp the dated entertainment industry, which made obtaining material slow and expensive.

The platform has seen multiple legal battles, with Cohen maintaining that it does not break copyright laws in allowing users to share files such as music and movies among themselves.

In 2018, TRON completed its acquisition of BitTorrent, bringing BitTorrent under the control of Justin Sun. Sun is notorious for his plugging of both TRON as a cryptocurrency and its blockchain technology, bidding $4.5 million at a charity auction to have lunch with Warren Buffett (well-known anti-crypto figure) and discuss cryptocurrency with him.

TRON is also behind the addition of cryptocurrency to BitTorrent, as the BTT token was released on TRON’s blockchain. The move formed part of TRON’s efforts to add further decentralized features to the platform.

What Makes BitTorrent Unique?

BitTorrent’s original goal was to disrupt the legacy entertainment industry and how consumers obtain content.

Expensive and inefficient distribution networks were the main target, with original developer Bram Cohen seeing benefits in allowing internet users to distribute content among themselves directly.

In the early 2000s, BitTorrent became the go-to P2P file sharing platform, with TRON stepping in 2018.

Under TRON, BitTorrent has expanded its user appeal to those interested in decentralized solutions and cryptocurrency, as well as to its own user base.

Among the added features are BitTorrent Speed, which uses the BTT token as part of its operations.

BitTorrent has also branched out into paid services, offering several “premium” versions of its platform which include VPN capabilities and ad-free browsing.

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What Is Solana (SOL)?

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

To learn more about this project, check out our deep dive of Solana.

The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

Who Are the Founders of Solana?

Anatoly Yakovenko is the most important person behind Solana. His professional career started at Qualcomm, where he quickly moved up the ranks and became senior staff engineer manager in 2015. Later on, his professional path shifted, and Yakovenko entered a new position as a software engineer at Dropbox.

In 2017, Yakovenko started working on a project which would later materialize as Solana. He teamed up with his Qualcomm colleague Greg Fitzgerald, and they founded a project called Solana Labs. Attracting several more former Qualcomm colleagues in the process, the Solana protocol and SOL token were released to the public in 2020.

What Makes Solana Unique?

One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability.

Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well.

The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing.

Combined with the longstanding professional expertise creators Anatoly Yakovenko and Greg Fitzgerald bring to the project, Solana is ranked number 7 in the CoinMarketCap ranking as of September 2021.

This came on the back of an impressive bull run, where Solana price gained over 700% since mid-July 2021. The launch of the Degenerate Ape NFT collection sent SOL price to an all-time high (ATH) above $60, and it has been climbing since, largely due to higher developer activity on the Solana ecosystem, greater institutional interest, growing DeFi ecosystem, and the rise the NFTs and gaming vertical on Solana. Solana price rose to an ATH of $216 on Sept. 9, 2021.

Solana has received much praise for its speed and performance, and has even been tipped as a rival that can compare to Ethereum and challenge the dominant smart contract platform. However, the network has been plagued by repeated outages that have impaired its price and aspirations to be the "Visa of crypto." Furthermore, its ecosystem is accused of favoring venture capital investors with unfair tokenomics.

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Who Are the Founders of Stacks?

The project started in 2017 when Muneeb finished his PhD (his thesis laid out the foundations for the Stacks layer for Bitcoin), released the original whitepaper, and raised $50M. Before this, the early team built protocols and apps on Bitcoin L1 before they began working on Stacks in 2017. Some early visions of the project are represented in this TEDx talk.

In 2019 there was the first-ever SEC qualified token offering (see WSJ article) for the general public, including the US. The full offering material disclosed everything and anything about the project/company/people.

2018-2020 the team was heads down building out the Stacks infrastructure— it's a programming layer for Bitcoin (it works like a blockchain with cross-chain consensus with Bitcoin) and Clarity lang, a safe language. Some technical resources are here.

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