Connect with us

Blockchain News

Aave Makes History as Core Developers Transfer Governance to Token Holders

Avatar

Published

on

Decentralized finance (DeFi) project Aave, has recently transferred the protocol’s governance rights over to its AAVE token holders, allowing the community to control the future of the network. Aave is one of the fastest-growing DeFi protocols, bringing increased composability and efficiency for end-users.

Webp.net-resizeimage (10).jpg

Aave’s core developers have recently transferred governance rights to its token holders, becoming the first DeFi project to take on this move. The DeFi project has long claimed that it aims to empower the decentralized community to make decisions on Aave

As part of Aave’s V2 transition, the decentralized money market has granted decision making to its token holders through the “genesis governance” framework. 

Aave recently announced on Twitter that the protocol’s admin keys have been transferred from its core developers, to its governance communities according to the command of its utility token LEND holders. Aave’s official announcement said:

“Today marks a historic moment for the Aave Protocol: we have officially handed over the protocol admin keys to the governance, an important step towards decentralisation!”

The Aave community voted in favor of the first Aave Improvement Proposal (AIP), enabling the launch of the migration functionality of its utility token LEND to its new AAVE token at a rate of 100:1, transferring the governance rights to AAVE token holders. The AIP scheme also reduces transaction fees for token holders, allowing users to transfer debt between different currencies and swap loan collateral without repaying the loan. 

Aave is largely responsible for the flash loan phenomena, whereby users can take out uncollateralized loans that allow for the borrowing of an asset, providing that the borrowed amount plus any fees are returned in the same transaction.

Currently, Aave’s total value locked (TVL) in DeFi is close to reaching $1 billion, and currently ranks the fifth by TVL. The AAVE token is currently trading at $32.85 at press time, and is trading 42 percent below its all-time high. 

Aave’s UK business entity, Aave Limited received an Electronic Money Institution License in July, allowing for an increased adoption of decentralized finance. With approval from the FCA, Aave will be able to offer services including issuing digital cash alternatives and providing payment services.

Image source: Shutterstock Source: https://Blockchain.News/news/aave-makes-history-core-developers-transfer-governance-token-holders

Blockchain News

3 Reasons Behind Bitcoin and the Crypto Market’s Sudden Crash

Avatar

Published

on

Bitcoin whales have been shorting the market.

Bitcoin and cryptocurrencies crashing

On Nov 21, crypto analyst Willy Woo indicated that “old hands have been selling into this rally since the start of November.” Old hands selling is a bad sign that may mean that a price drop may be coming soon.

Bitcoin whales stir movement on the market

On Nov 22, Crypto Quant CEO Ki Young Ju indicated that “When whales are active (over 90%) on Coinbase, the $BTC price will likely be going sideways or bearish.” Typically, whales can acquire Bitcoin at a much lower price. They simply cash out to guarantee enough profit when the market becomes overheated.

The 2017 Bitcoin surge followed by its crash may be related to Bitcoin whale manipulations.  According to University of Texas professor John Griffin and Ohio State University’s Amin Shams, the Bitcoin bull run in 2017 may be driven by Bitfinex. They said through an academic paper:

“This one large player or entity either exhibited clairvoyant market timing or exerted an extremely large price impact on Bitcoin that is not observed in aggregate flows from other smaller traders.”

Although there are more and more investors interested in Bitcoin (BTC) and other cryptos, the current price action of BTC seems to be primarily driven by institutional and big players. This year, Grayscale and its Bitcoin trust have been really eye-catching, as it has secured the largest Bitcoin amount seen by any institutional investor up to now. MicroStrategy and Square’s big Bitcoin buy-ins are also influential pulses that have driven Bitcoin’s price up as well.

Bitcoin economy fits billionaire investor George Soros’ quote perfectly. The philanthropist stated:

“Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend, and step off before it is discredited.”

Possible crypto regulation time bomb

There may be a series of crypto regulations upcoming in the US. Coinbase CEO Brian Armstrong has allegedly heard rumors that the Trump Administration may soon issue a huge and strict crypto wallet regulation on United States traders with privacy-invading data collection requirements.

On Oct 8, the U.S. Department of Justice published a “Cryptocurrency Enforcement Framework” that put cryptocurrency under strict regulations, similar to policies revolving around fiat money.

Google Trends indicate Bitcoin is booming

On Nov 25, CNBC’s Brian Kelly warned of a Bitcoin short-term correction that could see its price plummet to $12,000.

An explanation may be that altcoins rose much more than Bitcoin in price, which could serve to attract more funds into altcoin speculations. Whenever Bitcoin crashes, altcoins get pulled down as well.

Another reason is that searches for “buy bitcoin” on Google Trends have exploded to new highs, which means rising demand from retail investors. But this may not be a good sign. As Kelly said:

“Whenever you get that big of an address growth implied, that is a caution sign.”

Image source: Shutterstock Source: https://Blockchain.News/analysis/3-reasons-behind-bitcoin-and-crypto-market-sudden-crash

Continue Reading

Blockchain News

IOTA Launches Austria State-Backed Christian Doppler Laboratory for Blockchain Research

Avatar

Published

on

The IOTA Foundation, a non-profit distributed ledger technology-focused foundation has announced that it is joining a new research project, which is expected to run for seven years. The IOTA Foundation is joining the new research laboratory for blockchain technologies for the Internet of Things (IoT) as an industrial partner. 

Webp.net-resizeimage - 2020-11-26T172433.733.jpg

The research lab, the Christian Doppler Laboratory (CDL-BOT), will provide “cutting-edge research on DLT interoperability, the intersection of DLT with the Internet of Things and developer support offerings.” 

The Federal Minister for Digital Economic Affairs in Austria has officially opened the laboratory in a digital ceremony, joined by the co-founder and co-chair of the IOTA Board of Directors, Dominik Schiener. The IOTA Foundation continues to strive for developing open source technologies and infrastructure for trusted IoT.

For the IOTA Foundation, this project would allow more development and research on the IOTA Tangle as well as applications in the Internet of Things. The project would also look beyond the IOTA protocol to further develop the European DLT ecosystem. In an official press release shared with Blockchain.News, IOTA explained:

“This requires novel mechanisms to enable DLT interoperability ranging from cross-blockchain token transfers or atomic swaps to cross-blockchain smart contract invocation and interaction, as well as providing client-side blockchain interoperability through developer support.”

Pantos, a scientific research project aiming to solve the key technical barriers in the crypto and digital asset space, as well as Bitpanda, a leading European neobroker has also joined the research project. Prof. Stefan Schulte, the lead for the new lab said:

“With the rising number of potential application areas for DLT-based payments and data exchange in the Internet of Things, new DLTs have to be integrated, and interoperability between different DLTs becomes necessary. I am looking forward to doing joint research with the IOTA Foundation and Pantos in order to find novel solutions to this highly topical topic.”

The press release also mentioned that postdoctoral and doctoral students would also be employed for the research project, under the supervision of Prof.Stefan Schulte. 

Image source: Shutterstock Source: https://Blockchain.News/news/iota-austrian-state-christian-doppler-laboratory-blockchain-research

Continue Reading

Blockchain

GREENHEART PUNT APPROVED FOR LISTING ON LEADING GLOBAL CRYPTO EXCHANGE DIGIFINEX

Avatar

Published

on

Greenheart PUNT approved for listing on leading global crypto exchange DigiFinex  

Greenheart PUNT, the new sustainable Defi token led by Greenheart, is delighted to announce that the PUNT token has been approved for listing on the leading Singapore digital exchange DigiFinex.

DigiFinex is a Top 12 global crypto exchange and regularly trades in excess of $2 Billion dollars per day in volume and liquidity. The exchange trades approximately 200 leading coins and has over 4 million customer accounts – of which 800,000 are active daily users.

The listing on DigiFinex is in addition to Greenheart PUNT’s initial (December 1st) listing on the LAToken exchange and is designed to maximize liquidity and trading volume for PUNT token holders and investors.

The Greenheart PUNT token is scheduled to begin trading on DigiFinex on Wednesday 2nd December 2020.

Greenheart was founded two years ago in Ashbourne, County Meath, and was formed two years ago by childhood friends Mark Canavan and Paul Walsh. The company produces a full range of sustainable oils – and shortly – edibles and balms for the retail market. Although Greenheart only began selling its oils in January 2020, it already has over 1,500 customers, a customer return rate three times the industry average and over seventy trusted 5-star reviews on its website.

Before launching Greenheart, Paul and Mark spent years researching extraction methods to produce the most effective agricultural products, for the end consumer with full traceability from seed to shelf. The company is the first sustainable producer in its market to use the full scope of cutting edge technology in its cultivation and production. This includes Big Data, Artificial Intelligence (AI), Machine Learning, and Blockchain technology at each stage of the planting, harvesting, production, and retailing process.


Greenheart Punt Token 

The Greenheart Punt token is being backed by a real commodity – 1,000 liters of Greenheart’s oil in year 1 (with a retail value of $4 million US dollars) – allowing token holders to redeem their tokens directly for Greenheart oil.

The company also plans to continue deploying pioneering sustainability technology and cold press extraction, while also launching an Innovation Centre to teach farmers and the wilder public about the benefits of growing hemp and sustainable crops in Ireland.

 

 

Continue Reading

Blockchain

Ripple XRP’s Skyrocketing Price Performance Is Attributed to One Key Factor, Says Blockchain Analytics

Avatar

Published

on

Ripple’s XRP token has been all the rage lately, making headlines left and right due to its relentless surge in the past week. Currently, its price has pulled back slightly, but the bull run and the talks revolving around XRP have benefited Ripple overall.

Ripple (XRP) depicted in the sky to signify its price surge

At the time of writing, Ripple’s XRP price has pulled back, down 30% on CoinMarketCap in the last 24 hours. However, blockchain analytics provider Santiment has asserted that XRP has excelled in one key area. Social discussions revolving around Ripple has escalated, especially lately.

The Ripple (XRP) effect 

For the first time since April, Ripple may have pinned investors’ interest more than Ethereum (ETH), according to behavior analysis charts. Ripple has been talked about and discussed more than Ethereum lately, and this may be significant since it may indicate that market sentiment around XRP is growing stronger, potentially surpassing Ether (ETH) as a preferred digital asset investment. Per the announcement:

“The daily social volume (mentions on #crypto platforms) of $XRP is on the verge of surpassing $ETH for the first time in 7 months. This crossover would be significant, as it signals change in interest level between the two assets, regardless of positivity.”

Santiment blockchain analytics chart

 Source: Santiment via Twitter

According to the chart illustrated above, which displays Bitcoin, Ethereum, and Ripple by social volume, or popularity, Ripple has captured increased investor interest and this digital asset may soon be mentioned more than Ethereum. The purple line is an indicator of Ripple’s social volume, with the orange one and blue one representing Ethereum and Bitcoin respectively.

The development of XRP Ledger, the underlying distributed ledger technology backing XRP, has increased in activity by five-fold, compared to 18 months ago.

Ripple’s price has gained new heights

Ripple’s social volume, as well as the technology company’s new projects, have coincided with the XRP token’s rise in price. According to CoinMarketCap, XRP gained by nearly 140% in a month. Its rise in price has been said to be influenced by many factors, per market experts.

In just a week’s time, Ripple’s XRP token outperformed both Bitcoin and Ethereum on the market, as it regained its position as the third-largest cryptocurrency by market cap, after previously having been unseated by Tether (USDT).

A stellar performance by XLM

XRP is not the only altcoin that has been outperforming lately. Recently, Stellar Lumens (XLM) recorded gains of over 155% in a week, as it went through a protocol update. This was implemented by validators on the network and will provide a more seamless experience for users on the Stellar network.

Stellar Lumens is a modified fork of Ripple. It was also initiated by one of Ripple’s co-founders, Jed McCaleb. Similar to Ripple, Stellar also operates as a payment technology designed to connect financial institutions and improve cross-border payments through lower costs and improved time efficiency.

Ethereum has something up its sleeve too

With Bitcoin’s recent bull run driving altcoins higher, who is to say whether or not Ripple may surpass Ethereum in terms of investment popularity in the long run. Currently, Ethereum awaits the launch of ETH 2.0 mainnet, which is less than a week away. With the new blockchain segment implemented on December 1, its native cryptocurrency Ether may increase in value.

Image source: Shutterstock Source: https://Blockchain.News/news/ripple-xrp-skyrocketing-price-performance-attributed-one-key-factor-blockchain-analytics

Continue Reading
Energy6 hours ago

Ballard Closes US$402.5 Million Bought Deal Offering of Common Shares

Energy6 hours ago

Lithium-ion Battery Market Size USD 129.3 Billion By 2027 At A CAGR of 18.0% | Valuates Reports

Energy6 hours ago

CBAK Energy and Kandi Group Signed Supply Framework Agreement

Energy7 hours ago

Level Sensors Market worth $6.1 billion by 2025 – Exclusive Report by MarketsandMarkets™

Energy7 hours ago

Rescheduling of Work Commitments in Corentyne Block, Guyana

Cyber Security8 hours ago

Technological Innovations at the Tokyo Olympics

Gaming11 hours ago

The Basics: Popular Casino Games You Should Play

Press Releases12 hours ago

The International Vaccine Institute Supports a Global Campaign to Reduce the Spread of Covid-19

Esports13 hours ago

T1 re-signs top laner Canna, extends contract until 2022

Energy13 hours ago

JinkoSolar to Report Third Quarter 2020 Results on December 7, 2020

Energy13 hours ago

EWPG Holding AB: Interim report for the period 1 January – 30 September 2020

Esports14 hours ago

Khan joins DAMWON as team’s new top laner

Cyber Security15 hours ago

Different ways tech plays a key role in securing igaming platforms

Energy19 hours ago

LONGi suministra 273MW de sus módulos solares a la mayor planta solar del Sureste de Asia

Ecommerce20 hours ago

ADvendio Celebrates 10 Years of Product Excellence and Growth

Esports21 hours ago

Super Smash Bros. Melee Slippi mod launches broadcast feature early in response to #FreeMelee

Esports21 hours ago

The 7 best low-back gaming chairs

Denmark
Esports21 hours ago

Heroic move past Endpoint in BLAST Premier Showdown

Esports22 hours ago

Na’Vi brings Mag back from inactive roster to coach Dota 2 team

Esports22 hours ago

Fantasy games live for DreamHack Masters Winter and Flashpoint 2 playoffs

Energy23 hours ago

Worldwide Hybrid Diesel Genset Industry to 2026 – Key Drivers and Restraints

Energy1 day ago

The Neutrino Energy Group Transcends the Theoretical to Transform Practical Energy Use Worldwide

Esports1 day ago

How to activate crossplay on Rainbow Six Siege

Esports1 day ago

Pokémon teases 25th-anniversary celebration during Macy’s Thanksgiving Day Parade

Energy1 day ago

ChemPoint es seleccionado como distribuidor de los productos de Soluciones Especializadas de DuPont para México

Esports1 day ago

Apex Legends Dev Believes Wattson Isn’t ‘Useless’

Esports1 day ago

Horizon Voice Actor Shows What it Was Like to Record During the Pandemic

United States
Esports1 day ago

Liquid edge past MAD Lions in BLAST Premier Fall Showdown

Energy1 day ago

Europe Excavator Market Outlook Report 2020-2025 Featuring Prominent Players – Caterpillar, CNH, John Deere, Kobelco, Liebherr

Esports1 day ago

League’s original 17 champions and how different they were 11 years ago

Trending