Governance tokens, therefore, get some of their value from the fact they confer certain powers to their holders. That may contribute to their sizable valuations: Luna ended 2021 trading at more than $80. In this way, they differ from conventional cryptocurrencies like bitcoin, which functions more like traditional money as a store of value and medium of exchange. Source
As Ethereum gas prices rise, the chain that inspired Web3 is becoming gentrified, with high transaction costs pushing less wealthy users onto competing blockchains or scaling solutions. This means that many use cases are becoming unfeasible in the proverbial layer-one downtown, and suburban neighborhoods are being developed to allow for a cost-effective layer-two blockchain experience. Since getting acquainted with Polygon around the time of its launch in late 2019, Sameep Singhania has been an avid supporter of projects built on the protocol. In 2021, he created QuickSwap, a decentralized exchange…
This episode is sponsored by Kava. Today’s Stories: Blockchain Indicator Suggests Bitcoin Could Be Close to Bottoming Out Fantom, Harmony Lead Gains in Major Cryptos as DeFi Narrative Heats Up European and Asian stocks Rise After Wall Street Rally | Financial Times Stock Futures Waver Ahead of Inflation Data – WSJ U.S. Economy Can Withstand Fed Tightening, Omicron Surge, Powell Says Cascading Flight Cancellations Snarl Airfreight Shipments – WSJ Parent Company of Brazil’s Largest Crypto Exchange Has Entered the European Market With a Portuguese Acquisition Binance Hired Former Government Officials…
dYdX, the layer-two derivates protocol, has published the fourth iteration of its roadmap detailing their intentions to evolve into an open-source, community-governed and fully decentralized exchange by the end of this calendar year. The platform currently runs on a hybrid model whereby a portion of operations are decentralized, most notably staking and governance, while other components such as the off-chain orderbook and matching engine are managed by dYdX Trading Inc, alongside external support from a number of partnered centralized servers such as Amazon Web Services. “There will no longer be…
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On Wednesday, Komodo, a multichain architecture network, announced the introduction of 12 protocols on its non-custodial multi-coin software wallet and atomic swap-powered decentralized exchange AtomicDEX. The 12 protocols consist of Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum and Optimism, with the latter two being wallet-only. After the upgrade, users will be able to swap Avalanche tokens to Polygon, Ethereum to Binance Smart Chain (BSC), etc., and vice versa. Unlike cross-chain functionality, multi-chain enables users to access their crypto without the use of…
The Gap is the latest clothing brand to jump on the non-fungible token (NFT) bandwagon by teaming up with Tezos to debut its first collection. The San Francisco-headquartered retailer said Wednesday it is launching a gamified digital experience allowing customers to purchase a limited-edition Gap hoodie. Gap’s NFT collaboration is designed by Brandon Sines, the artist behind Frank Ape, a cartoon mythical creature, and will be built on the Tezos blockchain. Pieces can be purchased via the Gap NFT website and go on sale Jan. 13 for 2 XTZ each…
“Zero Hash has defined a new fintech vertical of ‘digital-assets-as-a-service,’” founder and CEO Edward Woodford said in a press release. “Our thesis is very simple – every financial services firm and a wide variety of customer businesses will offer a crypto or NFT product within the next 12 months.” Source
When you mine a cryptocurrency, you need to be mindful of the liabilities that will cut into your profits: namely, bitcoin’s market price, the cost of electricity, maintenance fees and the cost of your mining equipment and how long it is likely to stand up against increasingly powerful miners. As more powerful machines reach the market, your once-powerful machine might not be able to keep up. Source
Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar. In a Wednesday announcement, Emmer said the bill would prohibit the Fed from issuing a central bank digital currency, or CBDC, directly to U.S. consumers. According to the Minnesota representative, having the government entity require users to open accounts to access the benefits of a digital dollar would “put the Fed on an insidious path akin to China’s…