Solana is a blockchain network focused on fast transactions and high throughput in order to encourage mass consumer adoption of cryptocurrency and blockchain. It utilizes several innovations to improve speed, including Proof of History (PoH) and parallelized transactions. Users can pay their transaction fees and interact with smart contracts using SOL, the network’s native token.

Introduction

Scalability is one of the biggest challenges in blockchain technology. As networks grow, they often face limitations in terms of transaction speed and confirmation times. Solana aims to tackle these limitations without compromising security or decentralization.

Founded in 2017 by Solana Labs’ Anatoly Yakovenko, the Solana blockchain adopts a new method of verifying transactions. Bitcoin and some other projects suffer from slow transaction times, high fees, and heavy energy usage. Solana uses a number of innovations, such as PoH and parallelization, to efficiently process thousands of transactions per second (TPS). 

How Does Solana Work?

Solana is a third-generation proof-of-stake (PoS) blockchain that has implemented a number of unique innovations to facilitate high throughput, fast transactions, and low fees: 

Proof of History (PoH): A method of verifying time without the need for a conventional timestamp.

Parallelization: The ability to process more than one transaction at any given time.

Tower Byzantine Fault Tolerance (BFT): A PoH-optimized version of Practical BFT.

Turbine: A block propagation protocol.

Gulf Stream: A mempool-less transaction forwarding protocol.

Sealevel: Parallel smart contracts run-time.

Pipelining: A transaction processing unit for validation optimization.

Cloudbreak: A horizontally-scaled accounts database.

These features create a high-performance network that has 400ms block times and processes thousands of TPS. To put this into perspective, Bitcoin’s block time is around 10 minutes, and Ethereum’s roughly 15 seconds.

SOL holders can stake their tokens as part of the blockchain’s PoS consensus mechanism. With a compatible crypto wallet, you can stake your tokens with validators who process the network’s transactions. A successful validator can then share rewards with those who have staked their tokens. This reward mechanism incentivizes validators and delegators to act in the network’s interest. 

As of December,  2022, Solana has 2,034 validators and a Nakamoto coefficient of 31.

What Makes Solana Unique? 

The single-minded focus on keeping transactions cheap, plentiful, and ready for widespread adoption have led to a number of unique innovations:

Proof of History

Keeping track of the order of transactions is vital for cryptocurrencies. Bitcoin does this by bundling transactions into blocks with a single timestamp. Each node has to validate these blocks in consensus with other nodes. However, this process results in significant waiting time for nodes to confirm a block across the network. Solana takes a different approach called Proof of History (PoH).

Solana events and transactions are all hashed using the SHA256 hash function, which takes an input and produces a unique and extremely difficult to predict output. Solana takes the output of a transaction and uses it as input for the next hash, so the order of the transactions is now inbuilt into the hashed output.

This hashing process creates a long, unbroken chain of hashed transactions. This results in a clear, verifiable order of transactions that a validator can add to a block without the need for a conventional timestamp.

Hashing also requires a certain amount of time to complete, meaning validators can easily verify how much time has passed. By ordering transactions in a chain of hashes, validators process and transmit less information per block. Using a hashed version of the latest state of transactions greatly reduces block confirmation time.

PoH is not a consensus mechanism but instead, a way of shortening the time spent confirming the order of transactions. When combined with PoS, selecting the next validator for a block is much easier. Nodes need less time to validate the order of transactions, meaning the network chooses a new validator more quickly.

Low cost

Solana has extremely low fees, with the average transaction costing $0.00025. Low fees can remove some of Web3’s greatest barriers to entry, since gas fees on other chains can add significant costs to a single purchase. 

Energy efficiency

Because Solana’s nodes need much less time and fewer resources to validate transactions — and because it does not require mining like proof-of-work (PoW) networks — the network has emerged as one of the most energy-efficient blockchains.

The Solana Foundation, the non-profit dedicated to securing and supporting the Solana network, releases regular third-party audits on Solana’s energy impact, as well as how it compares to other blockchain projects and their average household usage. The most recent report, published in September 2022, highlighted the following energy usage statistics:

One Solana transaction

508 Joules

Single Google search

1,080 Joules

One non-voting Solana transaction

3,290 Joules

One Ethereum transaction (estimated post-Merge)

144,036 Joules

Fully charging an iPhone 13 battery

44,676 Joules

Running the entire Solana network per year

4,056,273,936 Joules

Mining one Bitcoin

5,005,764,000 Joules

Average US household energy usage per year

38,574,000,000 Joules

What Is SOL?

#SOL is Solana’s native utility token, which the network burns as part of its deflationary model. Users need SOL to pay transaction fees when making transfers or interacting with smart contracts. SOL holders can also become network validators. Like Ethereum, Solana allows developers to build smart contracts and create projects based on the blockchain.

SOL uses the SPL protocol; SPL is the Solana blockchain’s #token standard, similar to ERC-20 on Ethereum. The SOL token has two main use cases:

Paying for transaction fees incurred when using the network or smart contracts.

Staking tokens as part of the PoS consensus mechanism.

Decentralized applications (DApps) building on Solana create new use cases for SOL and other tokens built using the SPL standard.

The Solana Ecosystem

The Solana ecosystem has grown massively since the launch of its mainnet-beta in 2020. As of December,  2022, there were 21,255 GitHub developer repositories using Solana, which supports eight million active users.

Traditional economic giants have also announced their integration with Solana. These include Discord (which allows users to link their profiles and Solana Wallets) and ASICS (which used the Solana Pay payments rail to allow customers to purchase a limited-edition shoe design).

Solana’s fast transactions and high throughput have made it the network of choice for several Web3 use cases, such as:

NFTs: Fast transaction times and low fees have spurred the blossoming of a robust Solana NFT ecosystem. More than 22.7 million NFTs have been minted on Solana by over 150,000 creators as of December, and Solana NFTs are supported by the Meta properties, Facebook and Instagram. Several notable Solana NFT projects include the Degenerate Ape Academy, Okay Bears, and Solana Monkey Business.

Payments: The Solana Pay protocol has powered an ecosystem of frictionless, permissionless payment structures that can settle payments in seconds. In the recent announcement of Stripe’s fiat-to-crypto on-ramp, 11 of the 16 projects mentioned as launch partners were built on Solana.

Games: As of December, there are currently 15 games that are live and playable using Solana, with 37 expected by March 2023.

DeFi: Solana’s fast transaction times make it ideal for decentralized finance (DeFi), and #Solana DeFi projects raised over $150 million in 2022. Notable projects include community-run order book OpenBook and Jupiter Aggregator.

DAOs: New tooling has led to a surge of decentralized autonomous organizations (DAOs) on Solana, leading to 8,489 DAO proposals and 34,484 total votes. 

Mobile: With the June reveal of Saga, the first mobile phone to use the Solana Mobile Stack, the Solana ecosystem has led the way in mobile-first crypto development. The first Saga devices shipped to developers in December 2022.

What’s Next?

The 2022 Breakpoint conference by the Solana Foundation highlighted a number of projects to follow in the coming months and years, including:

Firedancer: Jump Crypto is developing new open-source Solana core software, including a second validator client that can process 1.2 million TPS in a test environment as of November, which will expand Solana’s throughput even further.

Mobile: Saga devices are expected to be available to the general public in 2023. Solana Mobile will also launch a Solana DApp Store, a fee-free Web3-focused store for DApps, in January 2023.

Network upgrades: A number of upgrades have been implemented to improve the network’s performance, including QUIC, stake-weighted quality of service, and fee markets. Solana Labs co-founder Anatoly Yakovenko has also laid out his vision for how he wants to improve the network.

Closing Thoughts

After appearing on the blockchain scene in 2020, Solana continues to mature into a robust, sustainable ecosystem. It has since become a popular choice for both projects and users, and seems poised to grow even further.

By: #Binance via #Cr7ypto visit Learn & Earn to know more 🔥😍

Keep your eyes on $SOL its September guys

In the world of cryptocurrencies, #Binance has emerged as one of the leading exchanges. Alongside its diverse range of features, the platform offers the opportunity to stake BNB (Binance Coin) through its Staking Economic Incentive (SEI) program. Let's explore what #SEI is and why #staking #BNB in Binance is important.

What is SEI? Staking Economic Incentive (SEI) is a program introduced by Binance to incentivize users to hold and stake their BNB tokens. By participating in SEI, users can earn additional benefits and rewards while contributing to the overall stability and security of the Binanceecosystem.

The Importance of Staking BNB in Binance:

Earning Passive Income: One of the primary reasons to stake BNB is the opportunity to earn passive income. By staking BNB, users can receive rewards in the form of additional BNB tokens. These rewards are distributed regularly, providing users with a steady source of income.

Access to Exclusive Services: Staking BNB can grant users access to a range of exclusive services and benefits within the Binance ecosystem. This can include priority access to token sales, discounted trading fees, and VIP customer support. By staking BNB, users can enjoy enhanced privileges and a more seamless trading experience.

Participating in Governance: Staking BNB can also provide users with the ability to participate in the governance of the Binanceecosystem. Depending on the platform's governance model, staked BNB holders may have voting rights and the opportunity to influence key decisions within the Binance community.

Supporting the BinanceEcosystem: By staking BNB, users contribute to the overall stability and security of the Binance ecosystem. Staked BNB helps in maintaining the network's consensus and ensures the smooth functioning of various services offered by Binance.

Staking BNB through the SEI program in Binance offers a range of benefits, including earning passive income, accessing exclusive services, participating in governance, and supporting the overall ecosystem. If you hold BNB tokens and want to maximize their potential, consider staking them in Binanceto enjoy the rewards and contribute to the growth of the platform.

Note: This post is for informational purposes only and should not be considered as financial advice. Users should always do their own research and consider their own risk tolerance before engaging in any financial activities.

By #Cr7ypto

$BNB

🔥🔥🔥 Hot Article 🔥🔥🔥

If you have $247 to invest in cryptocurrencies and you want to spread the money across different cryptos, here's a suggested way to allocate your investment:

1. #Bitcoin (BTC):

Allocate about 40% ($99) of your investment to Bitcoin, as it is the most established and widely recognized cryptocurrency.

2. #Ethereum (ETH):

Allocate around 30% ($74) to Ethereum, as it is the second-largest cryptocurrency by market capitalization and has a strong track record of innovation and development.

3. #Binance Coin (BNB):

Allocate approximately 15% ($37) to Binance Coin, as it is the cryptocurrency of the Binance exchange and has shown significant growth in recent years.

4. #XRP (XRP):

Allocate about 10% ($25) to XRP, as it is one of the largest cryptocurrencies and has partnerships with various financial institutions.

5. Cardano (ADA):

Allocate approximately 5% ($12) to Cardano, as it is a platform for smart contracts and has a dedicated community and development team.

Please note that this allocation is just a suggestion, and it's important to conduct your own research and consider your risk tolerance and investment goals. Cryptocurrency markets can be highly volatile, so diversifying your investment can help mitigate risks. Keep track of market trends and adjust your portfolio accordingly.

This Is Not Financial Advice!

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$BTC $ETH $BNB

By: #Cr7ypto

Once upon a time, in a world where #cryptocurrencies were still a mysterious concept, I found myself in possession of three Bitcoins. It was a time when #Bitcoin  was just starting to gain attention, and people were unsure about its potential. Little did I know that this encounter with digital gold would shape my future in unimaginable ways.

As the years went by, I began to ponder the possibilities that lay beyond the realm of cryptocurrencies. The constant fluctuations in Bitcoin's value left me both intrigued and uncertain. It was during this time that I stumbled upon an opportunity that sparked my imagination - a #website that had the potential to become a lucrative venture.

With a mix of excitement and apprehension, I made the daring decision to sell my three precious Bitcoins. It was a leap of faith, driven by a thirst for exploration and a desire to embrace new opportunities. The transaction took place, and I found myself the proud owner of a website, ready to embark on an unknown path.

As I delved into the world of website ownership, I faced numerous challenges. The initial days were filled with doubts and uncertainties. However, with determination and a willingness to learn, I began to transform the website into something remarkable. I poured my heart and soul into revamping its design, optimizing its functionality, and creating engaging content.

Slowly but surely, the website started gaining traction. The visitor count increased, and so did the revenue. It was a thrilling journey of trial and error, constant improvement, and staying ahead of the curve. I embraced the ever-changing digital landscape, implementing innovative strategies to attract more traffic and generate higher earnings.

Years passed, and the website grew into a thriving platform that generated an astonishing $30,000 per month. It was a surreal feeling to witness the fruition of my imagination and hard work. The decision to sell my Bitcoins and dive into the world of website ownership had paid off beyond my wildest dreams.

But the story doesn't end there. After a year of running the successful website, I couldn't resist the allure of Bitcoin once again. I decided to reinvest and bought back the three Bitcoins I had sold. It was a bittersweet moment, knowing that the website had provided me with incredible opportunities, yet also longing to be a part of the ever-evolving world of cryptocurrencies.

As I look back on this extraordinary journey, I am filled with gratitude for the power of imagination and the courage to take risks. Selling my Bitcoins and acquiring the website was a pivotal moment in my life, transforming my financial situation and opening up new avenues of success. It serves as a reminder that fortune favors the bold and that embracing change can lead to remarkable outcomes.

Today, I continue to cherish my website's success, while also keeping a keen eye on the world of cryptocurrencies. The story of how I sold my three Bitcoins, built a flourishing website, and eventually reentered the world of digital gold is a testament to the power of imagination, adaptability, and seizing opportunities. It is a story that reminds us all to #dream big, take chances, and trust in the magic of possibilities.

"THIS ARTICLE IS NOT FINANCIAL ADVICE !"

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By: #Cr7ypto

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$BTC

GameFi AI Digital Art By Cr7ypto

#GameFi is a term that combines the words "game" and " #finance ". It refers to a new genre of games that use blockchain technology to allow players to earn real-world rewards. GameFi games are often referred to as "play-to-earn" games, as players can earn cryptocurrency or other digital assets by playing the game.

What are the benefits of GameFi?

There are several benefits to playing #GameFi games. First, players can earn real-world rewards for playing the game. This can be a great way to make money or to earn additional income. Second, GameFi games often have a strong community of players. This can make the game more enjoyable and can also provide opportunities for social interaction. Third, GameFi games are often built on #blockchain technology . This means that they are more secure and transparent than traditional games.

What are some popular GameFi games?

There are a number of popular GameFi games, including:

Axie Infinity:

AxieInfinity is a blockchain-based game where players can collect, breed, and battle digital pets called Axies. Players can earn cryptocurrency by winning battles or completing quests.

The Sandbox:

The Sandbox is a blockchain-based game where players can create, build, and monetize their own experiences. Players can use the game's Voxel editor to create their own worlds, games, and assets.

Decentraland:

Decentraland is a blockchain-based virtual world where players can own land, build structures, and interact with each other. Players can use the game's MANA cryptocurrency to buy and sell land, items, and services.

What is the future of GameFi?

The future of GameFi is very bright. The industry is growing rapidly, and there are a number of exciting new projects in the pipeline. As the technology continues to develop, we can expect to see even more innovative GameFi games.

GameFi has the potential to revolutionize the gaming industry. It can make games more rewarding for players, and it can also provide new opportunities for social interaction and economic growth. The future of GameFi is very exciting, and it will be interesting to see how the industry evolves in the years to come.

Here are some additional thoughts on the future of GameFi:

The growth of the metaverse: 

The #metaverse is a virtual world that is built on top of blockchain technology. GameFi games are often played in the metaverse, and we can expect to see the growth of the metaverse in the years to come.

The development of new gaming mechanics: 

GameFi games are constantly evolving, and we can expect to see the development of new gaming mechanics in the years to come. For example, we may see the development of games that allow players to earn rewards by participating in social activities or by contributing to the development of the game itself.

The increasing adoption of GameFi by mainstream gamers: 

As GameFi games become more popular, we can expect to see the increasing adoption of GameFi by mainstream gamers. This will be driven by a number of factors, including the increasing ease of use of GameFi games, the growing number of big-name game developers entering the space, and the increasing availability of gaming scholarships.

The future of GameFi is very bright, and it will be interesting to see how the industry evolves in the years to come.

By: #Cr7ypto

Hello

#Binance

Community 🌹

In the world of finance and investment, the allure of making substantial profits on a daily basis is an enticing proposition for many individuals. With claims of a strategy that promises a 50-60% profit daily, it is natural to be curious about its feasibility and potential benefits. In this article, we will delve into the concept of such a strategy, exploring its possibilities, risks, and considerations.

Understanding the Strategy: Unfortunately, the information provided does not offer any specific details about the strategy itself. Without a clear outline of the approach, it becomes challenging to assess its credibility and effectiveness. Successful #trading and investment #strategies typically involve a combination of thorough research, analysis, risk management, and a long-term perspective.

Considerations and Caution:

Unrealistic Expectations: It is crucial to approach any investment opportunity with a dose of skepticism when confronted with claims of high daily profits. While it is possible to generate significant returns, consistent daily profits of 50-60% are highly uncommon and often associated with substantial risks.

Risk Management: High-profit opportunities often come with higher risks. It is essential to consider the potential downside and volatility associated with such strategies. Proper risk management techniques, such as diversification and setting stop-loss orders, are crucial to protect capital and minimize potential losses.

Market Volatility: Financial markets can be unpredictable and subject to various factors, including economic conditions, geopolitical events, and market sentiment. Strategies that claim consistent daily profits may not account for market fluctuations. It is important to have a clear understanding of the strategy's adaptability to changing market conditions.

Expertise and Knowledge: Successful trading and investment strategies require a deep understanding of the financial markets, technical analysis, and fundamental factors that drive asset prices. Novice investors or those lacking sufficient knowledge may find it challenging to implement complex and high-risk strategies effectively.

Regulatory Considerations: Depending on your jurisdiction, some investment strategies may fall under specific regulations or require licensing. It is essential to ensure compliance with applicable laws and regulations before engaging in any investment activity.

While the idea of making substantial daily profits may be alluring, it is crucial to approach such claims with caution and skepticism. Without specific details about the strategy mentioned, its credibility and effectiveness are difficult to determine. It is advisable to focus on building a well-rounded investment strategy that encompasses thorough research, risk management, and a long-term perspective. Consulting with qualified financial professionals can provide valuable guidance and help tailor an investment approach suitable for individual goals and risk tolerance.

Investing in #cryptocurrency can be a great way to diversify your portfolio and potentially earn high returns. However, it is important to remember that cryptocurrencies are a volatile asset class and there is always the risk of losing money. By following these tips and tricks, you can increase your chances of success when investing in cryptocurrencies.

Have a nice day

By: #Cr7ypto 🐐🚀

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$BTC

The #cryptocurrency market has been on a wild ride in recent years, with prices soaring and crashing. However, despite the volatility, there is a growing consensus that crypto is here to stay. And as the technology continues to mature, we can expect to see even more exciting developments in the years to come.

So, what does the future of crypto look like in 2024? Here are a few trends to watch:

Mass adoption:

As more people become aware of the benefits of crypto, we can expect to see mass adoption in the years to come. This will be driven by a number of factors, including the increasing ease of use of crypto platforms, the growing number of merchants accepting crypto payments, and the increasing regulatory clarity around crypto.

New use cases:

As crypto becomes more mainstream, we can expect to see new use cases emerge. For example, we may see the use of crypto for micropayments, cross-border payments, and even decentralized autonomous organizations (DAOs).

Improved scalability:

One of the biggest challenges facing crypto today is scalability. As the number of users and transactions increases, the blockchain networks that support crypto can become congested and slow. However, there are a number of projects underway to improve scalability, and we can expect to see significant progress in this area in the years to come.

Regulation:

As crypto becomes more mainstream, it is inevitable that regulators will take a closer look at the industry. This could lead to new regulations that could impact the way crypto is used. However, it is important to remember that regulation is not always a bad thing. In fact, it can help to protect users and investors and to ensure that the industry is sustainable in the long term.

Overall, the future of crypto looks very bright. As the technology continues to mature and new use cases emerge, we can expect to see even more exciting developments in the years to come.

Here are some additional thoughts on the future of #crypto in #2024 :

The rise of DeFi:

Decentralized finance (DeFi) is a rapidly growing space that is using blockchain technology to create new financial products and services. In #crypto2024 , we can expect to see even more #DeFi innovation, as new projects are launched and existing projects continue to grow.

The growth of NFTs:

Non-fungible tokens (NFTs) are unique digital assets that can represent anything from art to music to real estate. In 2024, we can expect to see the #NFT market continue to grow, as more people use NFTs to represent their digital assets.

The development of Web3: 

#Web3 is the next generation of the internet, which is built on top of #blockchain technology. In 2024, we can expect to see the development of Web3 continue, as more people use blockchain technology to create new and innovative applications.

The future of crypto is full of possibilities, and it will be exciting to see what the next few years bring.

By: #Cr7ypto

🔥🎁🚀

Hello #Binance Community 🌹

If you are interested in exploring cryptocurrencies or tokens that have gained attention due to their affordability or potential growth, I can provide you with some general information:

5 CRYPTOS May Give 1000% RETURN:

Dogecoin (DOGE):

#Dogecoin gained popularity as a meme-based cryptocurrency and experienced a surge in value due to social media attention. While it started as a joke, it has garnered a significant following and continues to be traded actively. However, it's important to note that its price volatility can be substantial, and investing in it should be approached with caution.

Ripple (XRP):

#Ripple is a #cryptocurrency designed for fast and low-cost international money transfers. It has gained attention due to its partnerships with various financial institutions and its potential to disrupt traditional remittance systems. However, it's important to consider the ongoing legal proceedings surrounding Ripple, which may impact its future.

Cardano (ADA):

Cardano is a blockchain platform that aims to provide a secure and scalable infrastructure for decentralized applications. ADA, the native cryptocurrency of Cardano, has gained attention due to its potential for growth and the platform's focus on academic research and peer-reviewed development.

VeChain (VET):

VeChain is a blockchain platform that focuses on supply chain management and business processes. It aims to enhance transparency and traceability in industries such as logistics, agriculture, and luxury goods. VET, the native cryptocurrency of VeChain, has gained attention for its utility within the ecosystem.

Chainlink (LINK):

Chainlink is a decentralized oracle network that connects smart contracts with real-world data and external APIs. It aims to enable the execution of smart contracts that rely on external information. LINK, the native cryptocurrency of Chainlink, has gained attention due to its potential role in powering decentralized finance (DeFi) applications.

Remember, investing in cryptocurrencies involves risks, and it is crucial to conduct thorough research, evaluate the fundamentals of each cryptocurrency or token, and consider factors such as market trends, adoption, and regulatory considerations before making any investment decisions. It's always recommended to consult with a financial advisor for personalized advice.

Please note that the information provided is based on the real-time information available and should not be considered as financial advice. It is always recommended to do thorough research and consult with a financial advisor before making any investment decisions.

Have a nice day

By:

#Cr7ypto 🐐🚀

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$LINK

$VET

$XRP

Cryptocurrencies have come a long way since their inception, and with their growing popularity, some truly bizarre and fascinating stories have emerged from the world of digital currencies. In this article, we dive into the weirder side of crypto, exploring astonishing tales that range from buying #pizza  with Bitcoin to planning space travel funded by cryptocurrencies. Get ready for a wild ride through the unconventional and extraordinary world of cryptocurrencies!

The Million-Dollar Pizza:

Back in 2010, when #Bitcoin  was still in its infancy, a developer named Laszlo Hanyecz made history by purchasing two pizzas for 10,000 Bitcoins. At the time, this amount was worth a few dollars, but with the incredible rise in Bitcoin's value, those pizzas are now worth millions of dollars! This story serves as a reminder of the early days of Bitcoin and the astonishing appreciation of its value over time.

Crypto Kitties:

Collectible Feline Phenomenon: In 2017, a game called Crypto Kitties took the Ethereum network by storm. It allowed users to breed, trade, and collect virtual cats using blockchain technology. These digital feline companions became highly sought after, with some rare kitties selling for thousands of dollars. Crypto Kitties demonstrated the potential for blockchain technology to create unique digital assets and sparked a wave of interest in non-fungible tokens (NFTs).

Dogecoin:

The Meme Coin That Went to Space: Dogecoin, initially created as a joke cryptocurrency, gained unexpected popularity and a dedicated community. In 2014, the Dogecoin community embarked on a mission to fundraise 50 million Dogecoins for a NASCAR sponsorship. Surprisingly, they succeeded, and the Dogecar, a car wrapped with the Dogecoin logo, participated in a NASCAR race. Building on this peculiar success, the Dogecoin community later crowdfunded a mission to send a satellite called "Doge-1" to the moon, making Dogecoin the first cryptocurrency to reach lunar orbit.

Cryptocurrency Heists:

The Great Digital Robberies: While cryptocurrencies offer security and decentralization, they have also become targets for hackers. Several high-profile crypto heists have taken place over the years, resulting in millions of dollars being stolen. The most notorious example is the Mt. Gox exchange hack in 2014, where approximately 850,000 Bitcoins were lost. These events highlight the importance of robust security measures and the need for constant vigilance in the crypto world.

Cryptocurrency Tattoos:

Forever Inked with Digital Currency: Crypto enthusiasts have taken their love for digital currencies to the next level by getting tattoos that represent their favorite cryptocurrencies. From Bitcoin logos to Ethereum symbols, these permanent displays of devotion showcase the passion and belief individuals have in the potential of cryptocurrencies. It's an unconventional way to express their support and make a bold statement about the future of finance.

The world of #cryptocurrency is not just about numbers and technology; it's also filled with fascinating and bizarre stories. From the million-dollar pizzas to space-bound Dogecoins, these tales highlight the unpredictable and unconventional nature of the crypto world. As cryptocurrencies continue to evolve, we can expect even more extraordinary and unexpected events to shape this ever-growing industry. Strap in, because the crypto rollercoaster is just getting started!

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By: #Cr7ypto #Binance

$SEI $CYBER $BNB

Dangerous Information Down there...

cr7ypto is the goat

Filmmakers are interested in documenting one of this year’s weirdest stories in crypto, but what else made the list?

From Terra to FTX, 2022 has given us many weird crypto stories. While investors have been enduring a bear market that saw the crypto industry sink below the $1 trillion market capitalization mark, adoption in the space has been growing, and old mysteries were finally solved.

From the incredible short squeeze of a bankrupt company’s token to old anti-crypto arguments used by a major central bank, we’re getting weird with five stories the best fiction writers couldn’t dream up.

“Comedic rapper” charged over Bitfinex hack

Back in 2016, popular cryptocurrency exchange Bitfinex suffered a major security breach that saw attackers steal 119,756 Bitcoin 

BTC, worth approximately $72 million at the time. It was one of the largest crypto hacks in history, and although Bitfinex continued operating, its reputation was damaged for years to come.

This year, Heather Morgan, known by her rap name “Razzlekhan,” and her husband Ilya Lichtenstein were arrested by the Federal Bureau of Investigation for allegedly conspiring to launder crypto connected to the Bitfinex hack.

During a court appearance in New York, the pair proclaimed their innocence and were released on multimillion-dollar bonds. The weird part of this story is the details surrounding Morgan’s work as a “comedic rapper” and social media influencer. One of her songs even says it is dedicated to “the entrepreneurs and hackers, all the misfits and smart slackers.”

Morgan, who calls herself the “crocodile of Wall Street,” was labeled a master of “deceit and deception” by federal authorities. While her home was being searched, Morgan allegedly asked federal agents for permission to retrieve her cat from under the bed and, while doing so, tried to lock her phone.

Morgan and Lichtenstein reportedly traveled to Ukraine in 2019 to attain false identities and create fake passports, and have “established financial accounts” in Ukraine and Russia.

She was a regular contributor to Forbes. The day before the Bitfinex hack, she posted a picture next to Lichtenstein with a caption saying she will “always love getting into trouble w/ this crazy guy.”

Commenting on Morgan and Lichtenstein’s arrest, Dymtro Volkov, head of global innovations at crypto exchange CEX.io, told Cointelegraph that with the proper technical resources, “it is possible to track the flow of most funds moving on a blockchain network” and that “hiding a huge amount of stolen funds is actually quite a complex task.”

Notably, the pair isn’t being charged with the hack but laundering the stolen funds. The sordid details of the story have even caught the interest of filmmakers. Hulu is producing a true-crime limited series about Morgan’s life, and Netflix has ordered a docuseries on the story.

cr7ypto on binance

Bankrupt Celsius Network’s CEL token surges 4,000%

Shortly after cryptocurrency lending platform Celsius Network filed for bankruptcy, the price of its native utility token, CEL 

CEL, jumped by more than 4,100%. In only two months, the price climbed from a bottom of $0.093 to a near $4 high.

The surge came amid rumors that Ripple, a company engaged in a legal battle with the United States Securities and Exchange Commission, could take over Celsius’ assets. Other rumors suggested Goldman Sachs planned to acquire Celsius for $2 billion.

Traders organized a massive short squeeze. Short squeezes occur when an asset’s price rises suddenly, forcing short sellers to buy back the asset at a higher price to close their positions.

The short squeeze was possible because a freeze on Celsius token transfers significantly reduced the circulating supply of CEL.

At the time of the short squeeze, Cointelegraph reported that FTX had about 5.1 million CEL tokens, amounting to 90% of the total circulating supply on exchanges.

It’s currently believed traders on FTX pulled off the short squeeze, but deleted tweets suggest that the origins of the movement may not be fully understood, and some believe Alameda Research was directly involved. We do know that at least some traders are still trying to get a CEL short squeeze going again, even after the token dropped to $0.50.

Binance’s letter of intent

Binance’s surprising letter of intent to acquire the collapsing FTX exchange is another weird story of 2022. At the time, many in crypto believed FTX was a solvent, well-run company. When Binance announced its intent to liquidate its holdings of #FTX Token 

FTT following speculation regarding the solvency of FTX, what was seen as a rivalry between Binance and FTX soon turned into a potential buyout no one was expecting.

As FTX’s solvency was hardly being questioned, CEO Sam Bankman-Fried announced an “agreement on a strategic transaction” with Binance. It was a weird and unexpected revelation because, until that point, Bankman-Fried had dismissed concerns about the solvency of FTX.

Binance CEO Changpeng Zhao added to those concerns when he tweeted, “This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days”.

The deal fell through the next day after Binance conducted its due diligence, with the reasons becoming clear soon after.

European Central Bank spreads FUD

In late November, the European Central Bank (ECB) published a blog post in which it argued that Bitcoin’s recovery from $17,000 to $20,000 was likely an “artificially induced last gasp before the road to irrelevance.”

The ECB said that Bitcoin is “rarely used for legal transactions” and that “real #bitcoin transactions are cumbersome, slow and expensive.” The central bank daringly wrote that Bitcoin has never been used “to any significant extent for real-world legal transactions.”

According to the ECB, Bitcoin has benefited from “waves of new investors” while not being suitable as an investment. It doesn’t generate cash flow or dividends, nor can it be productively used or “provide social benefits.”

The statement argues that blockchain technology has “created limited value for society” and that the “Bitcoin system is an unprecedented polluter.” It also suggested that cryptocurrency promotion bears a “reputational risk for banks.”

Every point the ECB brought up has been used to attack the cryptocurrency community, and every single point has been rebuffed.

The ECB has recycled several crypto myths that have been used to hold the industry back. The post comes as the ECB accelerates progress on developing a digital euro. One of the post’s authors, Ulrich Bindseil, has authored numerous posts on central bank digital currencies.

Besides the recycled myths, what’s weird is the ECB’s unclear angle, as many don’t consider CBDCs to be competing with cryptocurrencies, which are often seen as a way to exit the shortcomings of fiat currency systems.

Speaking to Cointelegraph, Anton Bukov, co-founder of 1inch Network, said the ECB’s post was good for the cryptocurrency community, as it means the “government came to the second or even third stage of Gandhi’s thought: First they ignore you, then they laugh at you, then they fight you, then you win.”

Central African Republic’s crypto plan

The Central African Republic (CAR) became the second country to adopt Bitcoin as a legal tender earlier this year, allowing around 5 million residents to use the flagship cryptocurrency alongside the country’s fiat currency, the Central African CFA franc.

The move came after Central African Republic President Faustin-Archange Touadéra signed a bill into law establishing a regulatory framework for Bitcoin as legal tender. While the crypto community initially celebrated the move, the weird side of this soon became apparent.

Although the CAR is a mineral-rich nation, its people are among the poorest in the world. It has been devastated by a decade-long civil war, and it is estimated that nine out of 10 residents don’t even have access to the internet. CAR’s decision was accompanied by little to no explanation, with President Touadéra tweeting a simple “more to follow.”

The tweet was referring to an anouncement about the country’s “visionary” plan to create a “fantastic opportunity for anyone who believes in crypto investing.” That opportunity is the Sango project, which the government intends to use to boost investment into the country.

The project claims that the country’s treasury will have a dedicated Bitcoin reserve and allow citizens to have a “voice and chance to shape the future” through a governance system. Citizenship can be acquired by locking fixed collateral in Sango. Other benefits include e-residency, land ownership and 0% income tax for digital assets.

While attracting foreign investment is an intelligent move from CAR, a Bitcoin-based initial coin offering from a war-torn country is a weird development. CEX.io’s Volkov told Cointelegraph that cryptocurrencies are “well positioned to help emerging economies fill gaps in the services their domestic financial systems are lacking” and could help connect domestic financial systems to global markets. Volkov added that the move may help the country’s economy:

“Making #crypto legal tender, or at least creating a legal framework that defines its usage, allows financial companies to introduce cheap and fast financial services that customers can access even with unreliable access to the internet.”

He also said cryptocurrencies can have a “hugely positive effect on countries with developing financial systems looking to participate in the global economy.”

The stories covered in this article make it clear how unpredictable the cryptocurrency space can be during bear and bull markets. If anything, anyone following what’s going on is enjoying a rollercoaster ride they will never forget.

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By: #Cr7ypto #Binance

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Introduction: Discover the latest developments in the token market, where various digital assets are making waves. This article provides insights into notable trends and performances that can help you stay informed and make informed investment choices.

Ethereum-based Tokens (ERC-20): ERC-20 tokens have been gaining significant attention and demonstrating impressive performances. Tokens like Chainlink (LINK), Aave (AAVE), and Uniswap (UNI) have witnessed remarkable growth, showcasing the potential of decentralized finance (DeFi) and decentralized exchanges (DEXs).

Non-Fungible Tokens (NFTs): NFTs continue to captivate the market with their uniqueness and digital ownership features. Collectibles, artwork, and virtual real estate in the form of NFTs have seen substantial demand. Notable platforms like NBA Top Shot and OpenSea have facilitated the trading and discovery of these digital assets.

Utility Tokens: Utility tokens, which serve specific functions within their respective platforms or ecosystems, have been making strides. #Tokens like Binance Coin (BNB), which powers the Binance exchange, and VeChain (VET), which focuses on supply chain management, have garnered attention due to their utility and potential for growth.

Stablecoins: Stablecoins, such as Tether (USDT) and USD Coin (USDC), play a crucial role in the cryptocurrency market by providing stability and acting as a bridge between traditional and digital economies. These tokens maintain a fixed value, usually pegged to a fiat currency, offering a reliable option for traders and investors.

New and Emerging Tokens: As the market evolves, new tokens constantly emerge, creating opportunities for early adopters and investors. Research and keep an eye on promising projects, such as Polkadot (DOT), #Solana (SOL), and #Terra (LUNA), which aim to address scalability, interoperability, and decentralized finance challenges.

Conclusion: Tokens across various categories, including ERC-20 tokens, NFTs, utility tokens, stablecoins, and emerging projects, continue to shape the cryptocurrency market. Stay informed about the latest trends, conduct thorough research, and assess the underlying technology and potential use cases before considering any investments. Remember, the token market is dynamic, and diversification is key to managing risk and maximizing potential gains.

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First-gen blockchain games prioritized crypto-earning over gameplay, leading to an unsustainable growth model. Now, a #Web3 gaming platform is about to change that.

Many first-generation blockchain games were more concerned with crypto-earning than providing a great gaming experience. In contrast, Gala Games, a blockchain gaming platform with a proven history in the Web3 space, prioritizes fun and aims to address concerns about GameFi adoption.

Decentralized gaming, better known as GameFi, has been quickly identified as one of the clear use cases for blockchain technology that has yet to see mass adoption. However, while the benefits of GameFi, like greater control and offering tangible rewards, have been well marketed, most gaming is still done on a centralized platform. To put things in perspective, Fortune Business Insights estimates that the global gaming market size was valued at $249.55 billion in 2022 and will grow from $281.77 billion in 2023 to $665.77 billion by 2030. In contrast, blockchain gaming, according to Markets and Markets, accounted for only $4.6 billion in 2022, and is expected to grow to $65.7 billion by 2027.

Despite such low adoption to date, blockchain technology offers users greater control through decentralization, allowing players to set game rules, mechanics and upgrade features, and engage in distributed voting mechanisms to determine which games should be added to the platform. Additionally, as gamers spend more time playing video games, the ability to own in-game assets will allow them to earn cryptocurrency that can be redeemed for tangible rewards, making gameplay far more valuable from an outsider’s perspective.

So if the benefits of #GameFi are so clear, why is mass adoption so slow? Currently, many games focus on the underlying technology first and the fun aspect second. If you look at many first-generation blockchain games on the market, it’s clear that developers were more concerned with the crypto-earning aspect of their games, giving users multiple opportunities to participate in crypto-collecting activities at the expense of actual gameplay value.

Fun comes first

In response to these challenges, Gala Games, a pioneering gaming platform, has set out to revolutionize the gaming landscape. Its approach focuses on enhancing gameplay quality and streamlining the onboarding process for Web3 games, aiming to bridge the gap between blockchain technology and player enjoyment, thereby paving the way for a brighter future for GameFi.

The platform hosts games ranging from Town Star — similar to Farmville and created by many of the same people who made the famous simulation game — to PvP brawler Spider Tanks. While these are just two of many games available, the emphasis on competition, thinking and other cognitive skills before the blockchain element give these games a fun edge.

Furthermore, Gala Games is poised to introduce upcoming titles that carry an even greater impact. The Walking Dead: Empires stands as a testament to the platform’s innovation, a survival game forged through collaboration with AMC’s iconic series The Walking Dead. Adding to this anticipation is Last Expedition, a triple-A, PvPvE shooter, masterfully developed by the minds behind the illustrious Halo 2.

Bringing the same thrill to Web3

Gala Games has launched its new #Gala NFT Mystery Boxes, each of which includes three assorted NFTs. The platform compares the unboxing experience to the surprise and excitement of tearing open a pack of #Pokemon cards, where users don’t know what they’ll get but optimistically hope for that one rare collectible. What sets Gala NFT Mystery Boxes apart is their inclusion on GalaChain, ensuring buyers enjoy a gas-free experience when purchasing, opening or interacting with the NFTs. Moreover, every item discovered within these boxes holds intrinsic value, either contributing to an ongoing game or a forthcoming release, dispelling any notion of mere trivial finds.

Gala NFT Mystery Boxes come in multiple tiers, catering to users with varying budget preferences. The Bronze, Silver, Gold, Platinum and Diamond tiers offer different levels of rarity and power for the discovered NFTs. The team has dedicated extensive effort to this product, driven by the desire to provide the Gala community with a thrilling unboxing experience and a seamless journey with gas-free transactions on GalaChain.

But there’s more to Gala NFT Mystery Boxes than just NFTs. Users can experience the thrill of the unknown by discovering “chests” hidden inside these boxes. These chests are a treasure trove of hidden treasures that contain not only in-game NFTs but also cryptocurrency rewards. Inside you might find the token GALA, the lifeblood of the Gala ecosystem, or SILK, the cryptocurrency that powers the Spider Tank universe. The higher the level of the box, the more tokens users uncover in these chests, adding an extra layer of excitement and value to each unboxing.

Playing off the child-like excitement one would traditionally feel from playing with trading cards, Gala NFT Mystery Boxes aim to bring the same level of fun and excitement to Web3 gaming as part of a more extensive discussion on adoption.

Please note that the information provided is based on the real-time information available and should not be considered as financial advice. It is always recommended to do thorough research and consult with a financial advisor before making any investment decisions.

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The Shiba Inu is a small-to-medium breed of dog from Japan. It is the smallest of the six original and distinct spitz breeds of dog native to Japan. Its name literally translates to "brushwood dog", as it is used to flush game.

The Shiba Inu is a sturdy, agile dog with a thick double coat that comes in red, black and tan, sesame, or cream. They are known for their fox-like appearance, with triangular eyes, erect ears, and a curled tail.

Shiba Inus are independent and intelligent dogs that can be stubborn to train. They are also known for their shiba scream, a high-pitched vocalization that they sometimes use to express excitement, frustration, or fear.

Despite their independent streak, Shiba Inus can be loyal and affectionate dogs with their families. They are also good watchdogs and will bark to alert their owners to strangers or anything else they deem suspicious.

If you are considering getting a Shiba Inu, it is important to be prepared for their independent nature and stubborn streak. They are not the best choice for first-time dog owners, but with early socialization and training, they can make loving and loyal companions.

Here are some of the pros and cons of owning a Shiba Inu:

Pros:

Independent and intelligent

Loyal and affectionate

Good watchdogs

Easy to groom

Relatively healthy breed

Cons:

Stubborn to train

Can be aggressive towards other dogs

High-maintenance coat

Prone to separation anxiety

If you are looking for a small, independent dog with a lot of personality, the Shiba Inu may be the right breed for you. However, it is important to do your research and be prepared for their unique needs before making a decision.

Here are some additional things to keep in mind if you are considering getting a Shiba Inu:

They are not hypoallergenic, so they may not be the best choice for people with allergies.

They need regular exercise and mental stimulation to stay happy and healthy.

They are prone to some health problems, such as hip dysplasia and allergies.

If you are thinking about getting a Shiba Inu, I encourage you to do your research and talk to other Shiba Inu owners to learn more about the breed. They are wonderful dogs, but they are not for everyone.

This isn't financial advice !

#Shibainu #Binance #Cr7ypto

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Hello

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Community 🌹

let's further explore the topic of #Bitcoin price predictions and analysis. Here are some key points from the real-time information:

According to various predictions, the estimated average price of Bitcoin

( #BTC ) in the future varies significantly. Here are a few examples:

Based on one prediction, the estimated average BTC price will be around $209,157.58, with a minimum of $203,565.32.

Another prediction suggests that Bitcoin could reach an astounding $1.48 million by 2030.

Experts believe that Bitcoin could fall to $5,000 levels in 2023 due to rising interest rates and tighter monetary policy.

Some forecasts indicate that BTC's price could range between $28,181.31 and $42,271.96 in 2023.

BTC's price is expected to rise to $38,488 by the end of 2023, according to one prediction.

Please note that these predictions are based on various factors and analysis, and the actual price of Bitcoin may vary. It's important to consider multiple sources and do thorough research before making any investment decisions.

Read Carefully "THIS ARTICLE IS NOT #FINANCIAL ADVICE !"

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