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Everyday payments? Bitcoin’s got a long way to go…

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Over the years, major cryptocurrencies like Bitcoin have moved away from competing as an alternative to fiat currencies in terms of payments and as an exchange of value and is now cementing itself as a robust long term store of value. However, for users who believe and value the decentralized nature of crypto and value its implementation for everyday use-cases, does Bitcoin and similar cryptocurrencies offer a meaningful alternative?

In a recent interaction, popular Bitcoin advocate – Andreas Antonopoulos discussed the limitation of cryptocurrencies like Bitcoin when it comes to everyday payments and how they are more akin to cash in comparison to mediums like credit cards. He noted that for many, crypto is still not fully equipped to handle everyday requirements like recurring payments and subscriptions. Antonopoulos highlighted that,

“It has to do with the fact that it’s not easy to do membership and subscription services with crypto and the fundamental issue or rather a design issue is that all crypto systems are push systems.”

Antonopoulos distinguished between the push and pull systems in finance in which the latter is normally the philosophy behind credit and debit cards and are more suited for recurring payments as authorization is not required every single time. He noted,

“In a push mechanism, if you wanted to set up a monthly subscription…in order to do that, the wallets would have to be  either a custodial wallet, which means you do not control your keys or two, it would have to be a hot wallet.”

For Bitcoin, adoption has been on the steady rise, but if the king coin is able to find relevance in a greater variety of use-cases its utility is likely to grow substantially in the coming years. While second layer solutions like the Lightning Network have sought to become answers to such limitations, they continue to languish in developmental stages. He argued that,

“The lightning network and layer two networks like that which involves smaller payments involve hot wallets that are online so you can do interactive payments and microtransaction payments and are actually ideal for these kinds of subscription services.”

Source: DeFi Pulse

Interestingly in the past three months, the total value locked in the Lightning network has grown considerably. During the same time frame, the total value locked increased from $4.8 million to $8.5 million – a surge of over 85 percent.

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Source: https://eng.ambcrypto.com/everyday-payments-bitcoins-got-a-long-way-to-go

Blockchain News

Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges

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The Kin Foundation, the non-profit organization aiming to promote and govern the Kin crypto project, disclosed that both itself and the cryptocurrency has survived the recently concluded legal dispute with US Securities and Exchange Commission (SEC) over the 2017 Kin initial coin offering (ICO).

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The federal judge Alvin Hellerstein of the US District Court for the Southern District Of New York settled the legal case between Kik Interactive software development firm and the SEC. Justice Hellerstein said that Kik is “permanently restrained and enjoined” from violating Section 5 of the Securities Act.

As per the court order, Kik would have to pay a civil penalty of $5 million to the SEC within the next 30 days of the final court judgment. Besides that, Kik must give 45 days’ notice to the commission before any indirect or direct participation of a transfer, sale, offer, or issuance of any new digital asset, digital token or cryptocurrency, or any kind of ICO.

According to its blog post, Kin Foundation said that the Foundation and its Kin cryptocurrency are now out of the legal dispute. The Foundation said:

“In a nutshell, Kik is going to be OK. Beyond the monetary fine, Kik’s assets are still Kik’s property, including its remaining treasury, its Kin reserves, and all of its intellectual capital. Concurrently, the future of the Kin Foundation is not adversely affected. The SEC has not asked to register Kin as a security, and didn’t impose trading restrictions on it.”

Kik is now able to continue with its active development of the new code wallet and the open-source Kin SDK. Furthermore, the foundation stated that the SEC is not considering Kin as a security and is not in violation of securities laws therefore the token is free to trade on cryptocurrency exchanges.

The foundation said that its reserve is still active and it intends to continue growing the Kin ecosystem, seeking to hire a new executive director to join the team next month. The foundation revealed that the planned activity to migrate the token to the Solana blockchain would continue as scheduled.

The Origin of the Battlefront Between KiK and the SEC

In June 2019, the SEC filed a law enforcement action against Kik, alleging that Kik’s 2017 ICO was illegal because the firm sold tokens to US investors without registering the sale and offer as required by U.S security laws. Kik conducted an ICO in 2017 and consequently managed to raise $98 million, including $50 million in presales for Kin cryptocurrency.

Kik claimed that the ICO was for a currency and, therefore, was not subject to securities laws.  However, last month, Justice Alvin Hellerstein granted a motion for summary judgment to the SEC, noting that the commission was correct in its lawsuit, saying that tech company KiK should have registered its ICO under securities laws. The judge, therefore, ruled that Kik’s unregistered token offering violated Section 5 of the Securities Act.

Image source: Shutterstock Source: https://Blockchain.News/news/kik-survives-legal-battle-us-sec-cryptocurrency-continue-trading-exchanges

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How to Play With Friends Online in Dynamax Adventures in Pokémon Sword and Shield The Crown Tundra

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Nintendo and The Pokémon Company have once again added a confusing method for you to play online with your friends with the new Pokémon Sword and Shield feature, Dynamax Adventures, in The Crown Tundra

In the DLC’s flagship mode Dynamax Adventure, you and three friends can fight in a raid to try and get a Legendary Pokémon at the end of it depending on which version of the game you own.

While you can fight alongside friends in the mode, it isn’t exactly explained well at the start. So how exactly can you take part in the new mode with friends?

Well, here is how to do it:

  1. Make sure everyone who wants to play the game is online in Y-Comms
  2. Everyone must go and talk to the lady and enter a random Dynamax Adventure
  3. Before you click “Invite Others” press the + Button to bring up the Link Code option
  4. Set an eight-digit link code that’ll be the same for everyone
  5. Once that’s set, click on “Invite Others” to enter the lobby
  6. If you have done it correctly, the lobby should start to fill up with your friends or you should join your friend’s lobby.
  7. Check the top-right of the screen to see your Link Code, if it isn’t there you have done it wrong.

If you do all that, you should be set to go on your adventure. Just a note, if you want to fight specific Legendary Pokemon everyone will need to have it on their list to join a lobby as far as we are aware of.

Source: https://dotesports.com/pokemon/news/how-to-play-with-friends-online-in-dynamax-adventures-in-pokemon-sword-and-shield-the-crown-tundra

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How to Separate and Rejoin Calyrex from Glastrier or Spectrier in Pokémon Sword and Shield Crown Tundra

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When you catch Calyrex for the first time in Pokémon Sword and Shield’s Crown Tundra Expansion, they will be fused to either Glastrier or Spectrier and at first, glance, stuck together for all eternity.

Thankfully, however, there is a way to separate the two Pokémon if you want to have both in you party as two separate entities or switch up with two Pokémon are joint together as one.

Here is how to do it:

  1. Open up the Main Menu by pressing the X button.
  2. Go into your bag and switch to the Key Items submenu
  3. Find the Reigns of Unity
  4. With Calyrex in your party, click on the Reigns of Unity and click the fused Calyrex to separate them from their steed
  5. To rejoin them, click the Reigns of Units in your bag while Calyrex and either Glastrier or Spectrier are in your party. You should then be able to fuse them again.

Witht hat you should have complete control of the Pokémon on offer to create the party of your dreams, or switch between the two Legendary Horse Pokémon to find your perfect match.

Source: https://dotesports.com/pokemon/news/how-to-separate-and-rejoin-calyrex-from-glastrier-or-spectrier-in-pokemon-sword-and-shield-crown-tundra

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