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Negative Sentiment on Crypto Twitter Peaks Again: History Shows This Could Be Bullish

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Over the last few weeks, Flare Finance has announced support for several assets such as CSC, PAC, and XDC on their platform. These partnerships and integrations have raised the expectations of the platform users.

Before its launch, Flare Finance has shown how truly interoperable it is by bringing together several projects and their respective communities.

Flare Finance is not yet live and is expected to go live a month after Flare Network goes live, expected anytime in July.

Flare Finance has now announced support for Gitcoin (GTC) before the platform goes live. Once the platform goes live, the addition of any asset will be done via voting. This is the last asset to be integrated into the platform as Y-Assets. So far, Flare Finance has announced support for FLR, XRP, XLM, LTC, DOGE, ADA, ALGO, SHIB, SANSHU, CEL, TEL, BNB, CAKE, XDC, PAC, and CSC.

Final Integration

GTC is the final token to be integrated on Flare Finance before the platform goes live. Gitcoin is a renowned platform that strives to create infrastructure for the open internet. It has an active community of developers with diverse skill sets. Projects can post any requirement on the platform along with the amount they are willing to pay for the task. This gives them access to 311,668 active developers who can then work on the problem.

Gitcoin also funds projects that are building open-source ecosystems. They have already funded $24.3M to several projects. It uses quadratic funding, ensuring that projects that are doing the most outstanding public good get more support. Individual users who believe in any project have an opportunity to support such projects using Gitcoin. The developers also have multiple ways of earning, helping them become a life-long part of the community. Developers can earn through bounty, hackathons, or grant funding.

The platform also provides ample opportunities for learning from peers, hackathons, fellowships, and workshops. The platform enables top developers in the world to collaborate and connect to create open-source projects. Post its integration with Flare Finance, Gitcoin users will be able to use the GTC token on the platform. It will give them access to all the six products of Flare Finance. GTC users would be able to borrow stable coins against GTC or stake GTC to earn yield, and avail other benefits by being part of the ecosystem.

What Next?

Flare Finance is expected to launch with six products – FlareX, FlareFarm, FlareMine, FlareLoans, FlareWrap, and FlareMutual. All the assets on the platform will have the option to mint their assets on the other chain using FlareWrap. Communities of all these projects will also come on a single platform thereby opening newer avenues.

With the launch of Flare Finance nearing, the real potential of Flare Finance would be revealed soon.

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Source: https://coingenius.news/negative-sentiment-on-crypto-twitter-peaks-again-history-shows-this-could-be-bullish-3/?utm_source=rss&utm_medium=rss&utm_campaign=negative-sentiment-on-crypto-twitter-peaks-again-history-shows-this-could-be-bullish-3

Blockchain

The Future of Blockchain Gaming

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blockchain gaming

Blockchain is a fundamental aspect of the future of financial technology. The incorruptible ledger system is gaining attention beyond the realm of cryptocurrency discussions. Though fundamental for hosting a decentralized banking system, blockchain can also be used by developers looking to incorporate detailed public records.

Unsurprisingly, some of blockchain’s most lucrative and popular iterations involve gaming. Though typically associated with Bitcoin and Ethereum, blockchain is now the backbone of the NFT trade. One of its key applications is in creating digital assets and facilitating their trade and collection.

Reuters’ latest report on the first half of 2021 tallied the global NFT market worth to be $2.5 billion—that’s up from $13.7 million in the first half of 2020. Now that NFTs have entered the market, more companies are looking to expand blockchain gaming enterprises.

Already, blockchain has been used to track in-game items, such as weapons, skins, and experience points. That way, these assets can’t be hacked and altered. Currently, most of these assets only have value in the game but could one day be bought and sold in an external marketplace like an NFT.

Another realm set for a blockchain overhaul is online gaming. PR News Wire reports that the market will reach a worth of over $72 billion by the end of the year. With big money and a growing incentive based on public demand, blockchain looks likely to become a standard feature among online gambling promotions from various sites in the future.

In addition to interest from gamers, casinos themselves would benefit from blockchain. Gaming companies are required to provide detailed reports to local regulatory and financial authorities. An incorruptible ledger would simplify this process, while also adding extra safeguards related to sensitive information of users and companies alike.

Building on CryptoKitties Success

One of the biggest players in blockchain gaming is Dapper Labs. The NFT company has helped produce some of the most successful blockchain enterprises, including CryptoKitties and the NBA’s Top Shot NFT business.

Back in 2017, Dapper Labs was new to the scene. The premise of the online game is simple: users spend Ethereum to purchase NFT cartoon cats. Each cat is unique and can be bred with other characters to create new, unique cats.

What began as a cult hit amongst Ethereum holders transformed into solid proof that NFTs were the future of digital collectibles. One of the first major NFT sales came from CryptoKitties, when a user shelled out $170,000, leaving Dapper Labs to collect a small cut related to transaction fees.

In February of this year, Dapp Radar reports that CryptoKitties had raked in $1.2 million in transaction volume since the year began.

Credits: unsplash.com

Creating Organic Value from Blockchain

NFTs are sure to be a major player in the future of blockchain gaming. However, NFTs are largely collectible items; CryptoKitties require minimal attention from gamers—and not everyone found the experience of raising and breeding CryptoKitties to be enjoyable.

The value blockchain brings to gaming revolves around creating a micro-economy within the game itself. This economy is driven by player interest. In other words, the value of a skin or a weapon is based on demand from other users, not what game creators have assigned.

The future of blockchain gaming will rely heavily on this internal economy. However, the precise implications of these economies aren’t yet clear—will it provide more power amongst gamers to influence how and why the game is played? Will creators spend more time integrating collectibles into games, and at what point do they evolve from a standard NFT collectible?

For now, it’s likely video game developers will avoid blockchain. Not only are most studios conservative in approach, but recent concerns about blockchain’s environmental effects have stalled many groups’ interest in the technology.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/the-future-of-blockchain-gaming/

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Blockchain

The Future of Blockchain Gaming

Published

on

blockchain gaming

Blockchain is a fundamental aspect of the future of financial technology. The incorruptible ledger system is gaining attention beyond the realm of cryptocurrency discussions. Though fundamental for hosting a decentralized banking system, blockchain can also be used by developers looking to incorporate detailed public records.

Unsurprisingly, some of blockchain’s most lucrative and popular iterations involve gaming. Though typically associated with Bitcoin and Ethereum, blockchain is now the backbone of the NFT trade. One of its key applications is in creating digital assets and facilitating their trade and collection.

Reuters’ latest report on the first half of 2021 tallied the global NFT market worth to be $2.5 billion—that’s up from $13.7 million in the first half of 2020. Now that NFTs have entered the market, more companies are looking to expand blockchain gaming enterprises.

Already, blockchain has been used to track in-game items, such as weapons, skins, and experience points. That way, these assets can’t be hacked and altered. Currently, most of these assets only have value in the game but could one day be bought and sold in an external marketplace like an NFT.

Another realm set for a blockchain overhaul is online gaming. PR News Wire reports that the market will reach a worth of over $72 billion by the end of the year. With big money and a growing incentive based on public demand, blockchain looks likely to become a standard feature among online gambling promotions from various sites in the future.

In addition to interest from gamers, casinos themselves would benefit from blockchain. Gaming companies are required to provide detailed reports to local regulatory and financial authorities. An incorruptible ledger would simplify this process, while also adding extra safeguards related to sensitive information of users and companies alike.

Building on CryptoKitties Success

One of the biggest players in blockchain gaming is Dapper Labs. The NFT company has helped produce some of the most successful blockchain enterprises, including CryptoKitties and the NBA’s Top Shot NFT business.

Back in 2017, Dapper Labs was new to the scene. The premise of the online game is simple: users spend Ethereum to purchase NFT cartoon cats. Each cat is unique and can be bred with other characters to create new, unique cats.

What began as a cult hit amongst Ethereum holders transformed into solid proof that NFTs were the future of digital collectibles. One of the first major NFT sales came from CryptoKitties, when a user shelled out $170,000, leaving Dapper Labs to collect a small cut related to transaction fees.

In February of this year, Dapp Radar reports that CryptoKitties had raked in $1.2 million in transaction volume since the year began.

Credits: unsplash.com

Creating Organic Value from Blockchain

NFTs are sure to be a major player in the future of blockchain gaming. However, NFTs are largely collectible items; CryptoKitties require minimal attention from gamers—and not everyone found the experience of raising and breeding CryptoKitties to be enjoyable.

The value blockchain brings to gaming revolves around creating a micro-economy within the game itself. This economy is driven by player interest. In other words, the value of a skin or a weapon is based on demand from other users, not what game creators have assigned.

The future of blockchain gaming will rely heavily on this internal economy. However, the precise implications of these economies aren’t yet clear—will it provide more power amongst gamers to influence how and why the game is played? Will creators spend more time integrating collectibles into games, and at what point do they evolve from a standard NFT collectible?

For now, it’s likely video game developers will avoid blockchain. Not only are most studios conservative in approach, but recent concerns about blockchain’s environmental effects have stalled many groups’ interest in the technology.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/the-future-of-blockchain-gaming/

Continue Reading

Blockchain

Industries Currently Being Transformed by Cryptocurrencies

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H.G Wells famously wrote about the need to “adapt or perish”. It’s a saying that makes perfect sense when it comes to cryptocurrencies because when it comes to the blockchain, companies either need to get on board or risk complete destruction.

Some industries are already being threatened with extinction if cryptos continue to rise, but others are embracing the changes and creating an almost symbiotic relationship with the world’s biggest digital coins.

Here are a few of the industries that are benefiting the most from the implementation of blockchain technology.

Online Casinos and Sportsbooks

For most people, their first experience of the internet was dodging banners and popup ads for online casinos and poker rooms. The chaos was caused by affiliates and not by the casinos themselves, but it still gave them a somewhat negative reputation. Over the years, Google has made that worse by penalizing sites that associate with gambling companies.

But times have changed. Not only is online gambling more widespread than ever before—embraced by most countries around the world—but it’s also driving some massive technological innovations, including cryptocurrencies.

A huge number of online casinos and sportsbooks now accept Bitcoin, Ethereum, Litecoin and Cardano, to name just a few. It means that they are helping to facilitate the transfer of millions of digital assets every single day. 

There are still many gambling sites that don’t accept these currencies, but developers and white label providers are steadily taking note and most sites will accept them before long. 

Take a look at this list of Coinbuzz casinos for an insight into how online gambling is supporting cryptocurrencies.

Banks and Financial Institutions

The whole point of cryptocurrencies was to create something that didn’t rely on banks and centralized exchanges. If they continue to grow and become part of our daily lives, the future of major banks will be in jeopardy. 

Not only is that bad news for investors everywhere, but it puts many major economies at risk, as well. The good news is that they’re not rejecting cryptocurrencies outright and hoping that they will go away.

Many major banks are experimenting in introducing cryptos, including Credit Suisse, who partnered with massive blockchain firm Paxos.

JP Morgan has its own alt coin and Citigroup and Goldman Sachs have also dipped their toes into the crypto sector. Banks will certainly be disrupted by cryptocurrencies, but it seems that they are ready to ride the wave and profit from the growth of the blockchain.

Insurance Companies

The insurance sector may seem like an odd one to embrace the blockchain, but these companies rely on data and efficiency, and if investing in blockchain technology means that they can reduce costs and increase speed, it’s a perfect fit.

Major insurance companies are already investing in the blockchain to improve payout speeds and the efficiency of incoming payments. It could also help them to develop additional products and services, such as insurance policies related to digital assets.

The Hospitality Industry

The hospitality sector is looking to blockchain technology as a way of reducing commissions and ensuring that more of the customer’s money actually goes to the hotel.

Most customers go through third-party booking sites when they book rooms. These sites charge a hefty commission, and it’s one that’s often much larger for independent establishments.

It means that they are forced to increase their prices, putting an additional financial burden onto the customers.

By utilizing blockchain technology, they can skip the middleman and keep all the money for themselves. They still need networks that perform these roles, but blockchain platforms are already springing up to provide cheaper commissions and faster booking.

Online Retailers

Every time you purchase an item online, you will be directed through a third-party payment processor. The network will take your payment details, process the payment, and handle everything on behalf of the website. It means that the retailer doesn’t need to deal with all the financial aspects and can provide their customers with a safe and secure way to pay.

But those merchants aren’t free, and they often charge a fee of between 1% and 5%, depending on the type of service they provide. That might not sound like much, but it all adds up, and for retailers processing millions of dollars a day, it’s a pretty hefty sum.

The blockchain could help these customers to process payments quickly and cheaply, allowing them to avoid the middleman, cut out the costs, and keep more of the profits for themselves.

The result is that retailers will have more cash and more freedom, and that could potentially lead to cheaper products and services.

 

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Blockchain

Robinhood Explores New Feature to Protect Investors from Crypto Fluctuations

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Zero-commission financial trading platform Robinhood is exploring a new feature designed to protect investors from price fluctuations during investing in cryptocurrency trading.

According to a Bloomberg report, Robinhood is studying price fluctuation protection mechanisms to protect the interests of investors against the unpredictable high volatility of cryptocurrency prices based on the code of the iPhone app test version discovered by iOS developer Steve Moser.

The code shows:

“To protect your orders against price volatility, we may sometimes skip your recurring orders or buy less than your chosen amount.”

A spokeswoman representing Robinhood declined to comment.

In addition, American financial technology and financial services company Robinhood is developing an option called “comprehensive investment” through which investors can invest their debit or credit card change in designated stocks.

Robinhood said that at present, investing in small change has become a prevalent strategy for novice stock investors, and it is also an important market that competes with trading platforms such as Acorns, Chime and Wealthsimple.

The Chief Financial Officer Jason Warnick said that on the firm’s growth strategy:

“There is more we can do with direct deposit and debit cards, particularly given the opportunity to connect rewards with our brokerage and crypto offerings.”

According to the files from financial trading platform Robinhood for an IPO in the US amidst a growing sect of brokerages exploring public listings, Robinhood, known for charging zero commissions to its traders, has room for cryptocurrencies, a growing asset class that accounted for 17% of the firm’s total revenue.

Image source: Shutterstock
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Source: https://Blockchain.News/news/robinhood-is-exploring-a-new-feature-designed-to-protect-investors-from-crypto-fluctuations

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