Crypto Great | Bitcoin | DeFi

2022-04-11 12:21:25 Ether (ETH)

The final touches are being put on Ethereum 2.0 and might be the last update before Ethereum switches to a Proof-of-Stake (PoS) system.

Transitioning to ETH 2.0 is important for the evolution of the Ethereum network. Transitioning from PoW to PoS is crucial for lowering fees on the network, as less computer computation is required for a PoS blockchain to remain secure and operational. One of the most critical parts to Ethereum moving to Proof-ofStake is the release of the updated version of the Beacon Chain. The Beacon Chain’s launch back in October 2020 introduced staking on the platform.

Becoming a validator by staking is easier than the current mining validation system. And the more people that participate in the network, the more decentralized and secure from attack it will become. Because of ease and availability, the network will become more safe with a PoS blockchain as the number of validators increases.

The Beacon Chain is the backbone of the PoS blockchain and its processing speed is competitive with the likes of financial titans PayPal and Visa.

In late October, Ethereum’s Beach Chain Altair update went live, taking one step closer towards the Eth 2.0 merge. Over 8.3 million ETH is currently locked on the new Ethereum network, valued at $33.5 billion.

The Altair upgrade is the first and potentially only update to the Beacon chain before fully transitioning to a PoS network. This is the first update helping the network transition away from poofof-work. Altair also prepares the network for “shard chains” which will increase the capacity of the network and improve transaction speed by extending the network to 64 blockchains.

As we wait for ETH 2.0, we understand that the transaction fees are high. Just remember, the more congested the network is the more ETH will be burned as individuals will pay high premiums to be included into the next block/transaction. Since the EIP1559 burning mechanism implementation back in August, the network has burned over 934,974 Ether, over $3.7 billion at today’s prices. Open / Comment

2022-04-07 12:47:00 Bitcoin (BTC)

Bitcoin has been exploding with interest from institutional heavyweights since the launch of the ProShares Bitcoin Strategy ETF. At the same time, interest has also risen from the unbanked population. These millions of individuals in the U.S. can’t obtain traditional banking or choose not to be involved in traditional financial systems.

The demand to turn cash into bitcoin and vice versa, is on the rise like never before. Companies are seeing the clear demand and are rushing to satisfy customers.

Walmart announced in October that it’s partnering with Coinstar to bring 200 bitcoin ATMs to stores across the United States.

Coinstar machines are well known for exchanging physical coins for cash.

Now, not only can Walmart customers purchase bitcoin directly from the ATM, they can also deposit spare change into a CoinStar and receive bitcoin. But Walmart isn’t the only company racing to deploy bitcoin ATMs. Bitcoin ATM company Coin Cloud recently reported it’s experiencing high demand while already being available over 4,500 locations nationwide including 7-Eleven and H-E-B Supermarket.

Users can purchase bitcoin from Coin Cloud Kiosk but also sell their bitcoin and convert it to cash. Coin Cloud is one the few digital currency machines that gives physical cash for your crypto with no banking middlemen.

The company also has a 24-hour helpline for anyone that’s ready to get involved and doesn't know exactly how to start. Building the infrastructure and helping individuals get involved in this digital revolution is critical for the mass adoption of bitcoin and cryptocurrencies.

The amount of operational bitcoin ATMs in the country more than doubled in the past year and shows no signs of slowing. According to the Federal Reserve annual payment study, cash accounts for 19% of all transactions made in the United States. Meaning, millions of individuals need an onramp for their fiat, and bitcoin ATMs are the best options for the unbanked individuals with billions of dollars sitting on the sidelines waiting to rush into bitcoin.

Fueled by demand from institutional and retail investors both hungry for increased bitcoin access and exposure, we believe that bitcoin’s future is bright and its price should continue to increase as mass adoption takes hold. Open / Comment

2022-04-05 11:41:17 ​​Enjin-Coin (ENJ)

Enjin offers an ecosystem of integrated blockchain software products that make non-fungible tokens (NFTs) easy for individuals, businesses, and developers.

Since Facebook announced its rebranding to Meta we have seen a drastic increase in media coverage, strategic investments, and adoption into the NFT and metaverse ecosystem.

Suddenly, legacy companies like Microsoft and Electronic Arts are announcing plans to be part of the construction of the metaverse and integrate NFTs.

We hope to see the future metaverse built by a decentralized organization rather than centralized companies that are vulnerable to data hacks and have a history of selling users information.

Enjin is one of the leading blockchains in the booming NFT and metaverse space. On August 4, Enjin launched the Efinity blockchain, expanding its ecosystem while developing a more efficient metaverse ecosystem.

In order to avoid Ethereum’s high gas fees and increase its ability to expand NFTs, Enjin raised $18.9 million in a private token sale in March to fund the Efinity platform’s migration to the Polkadot network. Efinity’s blockchain has the ability to mint over 20 million NFTs per second with transaction fees that are fractions of a cent.

Enjin is rapidly expanding its metaverse ecosystem, and on November 4 launched a $100 million Efinity Metaverse fund to formalize support for Enjin’s ecosystem partners. That $100 million investment will go a long way toward making a decentralized metaverse a reality.

The Efinity Metaverse fund will support the development of metaverse projects on Efinity and focus on cross-chain integration of NFT assets. Enfinity’s multi-chain infrastructure allows decentralized applications (dApps) to have a large outreach in the blockchain space.

ENJ has risen 40% since Facebook’s rebranding announcement on October 28, and is gaining clear adoption from retail and institutional investors. Open / Comment

2022-03-31 11:55:00 ​​Streamr (DATA)

Streamr is a decentralized platform for real-time data. The Streamr protocol allows users to transport, broadcast, and monetize data.

Last month, Streamr announced that its Brubeck Testnets are complete and have brought the network closer to its goal of total decentralization.

The data gathered from participants will help developers improve the network before going live on mainnet.

A total of 130,000 nodes from 85 different countries participated, making this testnet one of the largest peer-to-peer testnets in computing history.

Streamr’s community is also growing rapidly. It’s evident by the amount of nodes that participated in the testnet, and we are now seeing adoption spike in Streamr’s utility token since listing on KuCoin a few weeks ago.

KuCoin is among the largest centralized exchanges in the world with over $3.2 billion in daily volume.

As the Status network continues to successfully grow we will see more adoption from major crypto exchanges. The Brubeck Testnests proved to be a major success and developers are using this test to work out any bugs in the network and move it to the public mainnet as soon as possible. Open / Comment

2022-03-28 13:54:28 Status Network Token (SNT)

Status is an open-source messaging platform and mobil interface that allows users to interact with applications running on Ethereum. It works like the App Store for mobile applications, except it’s built entirely on peer-to-peer (P2P) technologies.

The Status Network naming system allows users to replace the long string of random numbers and letters that make up an Ethereum address with a recognizable name. It does so by leveraging the Ethereum Name Service (ENS).

The Ethereum Name Service is a protocol that issues nonfungible tokens that can represent Ethereum addresses and web domains. The Ethereum Name Service makes it easier for others to find your wallet address and send funds to a unique username instead of a chaotic string of random characters.

On November 8, ENS air dropped its token to early users of the service. Because Status is an early adopter of the ENS Status received 46,296 ENS tokens now valued at $2 million.

Status is leaving the decision up to the community on what should be done with the funds. A public form has started and is proposing different options that will soon be voted on.

This is just one of many examples of early adopters being rewarded for testing applications. And because of Status, users are able to test out services like ENS with minimal effort.

As more users flock to Status to take advantage of what web3 has to offer, demand for the SNT token will grow as well. That is because SNT is the main utility that is required to power the Status Network Open / Comment

2022-03-24 12:47:00 ​​Chainlink (LINK)

Chainlink is a decentralized network of oracles that enables smart contracts to securely interact with real-world data and services outside of blockchain networks.

The latest Chainlink product launched on Ethereum’s network, Chainlink VRF (Verifiable Random Function) provides a highly secure and fair source of on-chain randomness for blockchain applications.

Chainlink VRF generates a random number and verifies it onchain before it can be used by any application without compromising on security or usability. This is done to ensure that results cannot be manipulated by anyone.

VFR is vital for the development of the Metaverse, gaming, and NFT spaces. Less than a week from Chainlink VRF going live, projects have already begun implementing it as a tamper-proof random number generator.

In late October, Pixel Vault, a media group focused on the development of unique intellectual property for crypto-native assets, became one of the first to integrate Chainlink VRF to fairly distribute NFT rewards in a tamper-proof and fully transparent way.

The following day, Flippening Otters rushed to integrate with Chainlink VRF to ensure that NFTs are minted randomly and fairly. Flippening Otters is a collection of NFTs that details the history of Ethereum.

Flipening Otters will also be integrating with Chainlink Keepers to automate key functions and to provide price data. Additionally, DeFi asset management platform xWIN Finance integrated Chainlink VRF on Binance Chain for its weekly lucky draws.

Chainlink is evolving into more than just a price oracle. It's an open-source technology collectively developed by a large community of developers, researchers, and users who share the goal of optimizing Chainlink for the benefit of the entire blockchain ecosystem. Open / Comment

2022-03-21 13:40:20 ​​Crypterium (CRPT)

Crypterium is an all-in-one app for digital financial services. Users can make crypto loans, collect savings rewards, and monitor asset price predictions.

Crypterium has been working with regulators worldwide to provide its services in places with demand. Last month we learned that nearly a third of CRPT investors are European, so Crypterium is working with regulators to provide crypto services throughout Europe makes sense for both parties.

Crypterium’s hard work has paid off. In late October, the platform was officially registered by the United Kingdom’s Financial Conduct Authority (FCA). U.K. citizens and companies can now comply with regulation and enjoy the benefits of decentralized financial services.

Crypterium has become one of just 17 crypto companies registered in the U.K. for crypto services from the nearly 200 projects that have applied.

Now that Crypterium has gained approval from regulators in the UK, one of the strictest regulatory countries in the world, others may be more welcoming to the idea of Crypterium providing crypto services to their citizens and businesses.

With over 1 million CRPT burned from circulation and Crypterium’s reach growing, this could be the fuel CRPT’s needs and start its path back toward its 2021 high of $0.55. The token is currently up 50% in the last 30 days… Open / Comment

2022-03-17 11:45:00 Stacks (STX)

Stacks is an open network that allows users to build dApps and smart contracts on the Bitcoin network.

Bitcoin native NFTs are booming and getting a lot of traction thanks to Stacks. In October, Bitcoin Birds, an NFT collection of 400 unique, hand-drawn pixel art birds built on bitcoin, sold out in just one hour.

Stacks putting NFTs on bitcoin could prove to be advantageous over competitors since bitcoin is the largest crypto by market cap and is the most secure blockchain on the planet. Its supporters prioritize security and Stacks’ scalable tech built on bitcoin, is now leading the charge in making extremely secure NFTs.

Stacks has taken a potentially lucrative position, as dormant onchain Btc will be activated for Stacks’ secure NFTs. These Bitcoin NFTs will stand out among a crowded market, leading to increased demand for STX tokens.

On October 8, Orbit Chain integrated Stacks to welcome bitcoin to the growing $80 billion DeFi economy. Stacks will be able to use Orbit Chain’s cross-chain protocol to transfer tokens, data, assets, and smart contracts on the Stacks bitcoin-connected blockchain to Orbit Chain’s network and the chains it connects to.

This connection is designed to unlock bitcoin’s massive potential. While bitcoin is the most traded and liquid cryptocurrency, it has largely gone untapped by the $80 billion DeFi industry. This partnership will enable bitcoin-secured lending, borrowing, and trading while also offering a direct connection to other DeFi protocols.

Stacks is redefining what bitcoin is capable of. As Stacks continues its push in bitcoin DeFi & NFTs, we anticipate more users switching over from centralized platforms to a more decentralized and cheaper platform that is bitcoin-native, like Stacks. Open / Comment

2022-03-14 13:40:01 Cosmos (ATOM)

Cosmos is an industry-leading protocol that allows reliable and authentic communication between interconnected blockchains. It does this through the Cosmos Inter-Blockchain Communication (IBC) framework.

In October, Cosmos Inter-Blockchain Communication (IBC) went live on Terra. Cosmos netted over $18 billion of digital asset liquidity with its Terra entry.

Additionally, with Terra integration, liquidity flows can happen freely between major chains. This will help improve the trading experience on Cosmos’ cross-chain DEXs and accelerate the adoption of Cosmos’ DeFi protocols, Sifchain, Gravity DEX, Coinswap, and Osmosis.

The number of IBC enabled chains on Cosmos stands at 18, with 1.2 million IBC transactions taking place monthly. Cosmos chains are becoming more integrated through IBC. It will be interesting to see which proposals get passed in governance to change the structure.

In September, Cosmos Proposal 56 passed. The proposal aimed to utilize Cosmos Hub as an IBC router. This means utilizing the Cosmos Hub as a router for all chains connected to IBC and should serve as a major catalyst over the next few months. In other news, if you're an advanced user and staked your ATOM tokens prior to February 18, you are eligible for both Juno and Osmosis airdrops. You can claim your Osmosis airdrop here. And you can view if you are eligible for the Juno airdrop here. All ATOM addresses that qualify will be included in the genesis beginning in October. Meaning the same key that staked your ATOM will now have JUNO on it. You are not required to perform any claim action.

The first 20% of your Osmosis airdrop will be automatically available after connecting your Keplr wallet. However, to claim the remaining 80% of your Osmosis airdrop, you must complete these four steps on Osmosis.

Cosmos’ ecosystem is expanding rapidly with its software development tool kit (SDK) and IBC services being used to connect blockchains all across the DeFi ecosystem. It pays to be an ATOM investor. Open / Comment

2022-03-11 11:55:00 ​​Zcash (ZEC)

Originally developed by the Electric Coin Company (ECC), Zcash is positioned to serve as a foundational layer for a global and digital economy.

Zcash is expanding its digital ecosystem. In October, Zcash reached a milestone, as shares have begun trading for the Grayscale Zcash Trust (ZCSH) on the OTCQX Best Market.

The OTCQX Best Market represents the highest tier of blue-chip stocks from around the world and has strict entry requirements. Securities on over-the-counter (OTC) markets can be bought and sold by any investor, from large institutions to individual investors through a registered broker.

This is major for the adoption of Zcash’s native token, ZEC, as the Grayscale Trust will bring more exposure to the asset through a major investment vehicle, avoiding the responsibilities of trading, storing, and safekeeping assets directly.

Grayscale Investments provides market information, exposure and products catered to digital currencies as an asset class. Institutional adoption is making its way into DeFi and it's no surprise to see that Zcash is among the top of the list for cryptocurrencies that are in high-demand. Open / Comment