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Night Life Crypto — Leaders in Blockchain Gaming

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Blockchain technology has fostered decentralization with limitless potential. Through this innovation, privacy and security are more a guarantee than an expectation.

Through blockchain, various industries as well as individuals, are able to store data and securely transfer information and currency instantly. This technology has been a key tool in the rise of the cryptocurrency and digital asset industry as a whole.

Decentralized finance (DeFi), decentralized exchanges, and NFTs are all possibilities because of blockchain. The steady climb in popularity of these three developments can also be attributed to this technology.

Night Life Crypto is an on-chain gaming platform utilizing the Turtle Network to ensure ultra-fast block times. While still in its development phase, this attests to the innovation that is blockchain. It was created to fill the need for more trustless gaming platforms, which also offer a variety of modern games.

Night Life Crypto is currently developing a token, NLIFE, which is in its pre-launch phase and will be tradable on the Binance Smart Chain (BSC) soon.

Night Life Crypto in a nutshell

Night Life Crypto is developing a gaming platform to entice real gamers to partake in. Combining DeFi and blockchain, Night Life Crypto is shaping the crypto gaming space.

  • The gaming platform is still being developed and will launch soon.
  • Night Life Crypto is an on-chain gaming platform with zero fees for each game transaction. Users are able to stake liquidity.
  • Through Turtle Network and the liquidity options on PancakeSwap, Night Life Crypto is developing industry-firsts for the blockchain gaming industry.
  • Through their second layer solution, Turtle Network, players will receive instant confirmation times for bets and results.
  • Players need to purchase tokens on PancakeSwap and send these to their gaming wallets.
  • NLIFE tokens on the BSC will convert to tokens on Turtle Network. Users will then be ready to play to their heart’s content.
  • Gas fees from withdrawing tokens to a BSC wallet are paid in NLIFE rather than binance coin (BNB). This is to simplify transactions so that users don’t have to hold BNB for withdrawals.
  • Gaming wallets are non-custodial, which means users own the seed phase to their wallet, have full control, and are the only person with access to the wallet.

Trailblazing the blockchain gaming industry

Night Life Crypto is on a mission to propel the blockchain gaming industry into something extraordinary. The platform is of the opinion that this industry has not been as quick to develop as other industries on the blockchain. Similarly, the games that are available are predominantly non-fungible token (NFT) related.

Essentially, Night Life Crypto wants to get the blockchain gaming industry to be a similar representation to that of the current gaming industry. The platform wants people to have access to the widely-played games that they are used to playing outside of the crypto space.

The core of blockchain technology is a trustless environment that allows for immutable transactions. For the gaming industry, blockchain can show users that the games they play are fair.

Additionally, it proves that the results derived from a game are not altered based on a player’s input. Gamers can identify if in-game items are truly rare, as they will be able to see the actual amount available and the chances of receiving them.

Issues identified within the crypto gaming sector

Night Life Crypto has identified these issued within the crypto gaming sector:

Verifiable scarcity

Similar to trust and transparency, gamers have no idea how scarce a virtual asset really is. Through blockchain, the total number of assets that are issued can be easily verified. This will therefore improve the trust and overall value of the marketplace itself.

There are other issues that exist in the crypto gaming sector that Night Life Crypto identified. These include:

A lack of transparency and trust
  • Online games with rare collectible items are met with skepticism. They also believe there is a disparity in the number of items in circulation versus the actual number that exists.
Transaction fees
  • Platforms with on-chain games have various fees and added costs to transactions.
Slow transaction times
  • There are a wide variety of transaction fees for the on-chain gaming platforms that exist. Some platforms have transaction speeds that depend on how much a user pays.
No Rewards for Customers:
  • Currently, there is no platform that offers user rewards for supporting the platform. Regardless of if they’re providing liquidity or playing games.
Anonymity
  • Platforms with casinos need a ton of personal information from users, who then run the risk of a data breach. User privacy needs to be retained and the number one priority of any platform.

Issues with the current gaming sector that blockchain can rectify

Night Life Crypto identified a number of issues that exist in the current gaming sector that can be addressed and resolved through blockchain. These are:

Security

Gaming platforms operate on centralized servers and payments are made using a mobile phone or through a desktop. Some of these payment platforms are not secure though. Additionally, instances of assets being stolen from gaming accounts have occurred. With blockchain gaming, asset security is guaranteed.

Trust and transparency

In modern gaming, assets are needed to complete missions. These include props, cars, and other characters among other things. Modern games depend on these assets, which are scarce in supply. These are bought through in-game purchases using real-world money. Alternatively, assets can be earned as a player progresses through a game.

As it stands, games are not transparent in the number of these assets that are available for purchase. For example, a virtual asset like a car or prop that has to be acquired through an in-app purchase may be available to thousands of players or available for free to others. A lack of transparency and verifiability therefore exists.

However, blockchain enables the tokenization of these virtual assets, creating a decentralized gaming asset market. Trust is improved as gamers are able to check and verify the existing ledger to see if an asset really is as rare as a game claims it to be. Gamers are also able to buy virtual assets within a decentralized market at a fair price and on an open order book.

Night Life Crypto’s solutions

Night Life Crypto plans to create a trustless platform where everything is open-sourced and verifiable. Game results can be verified through a random number generator that utilizes the Turtle Network blockchain.

The platform does not collect user information, allowing players to create anonymous accounts, with no email address needed. Users can however create a platform account using an email, creating an on-chain two-factor authentication for added security.

Night Life Crypto uses two blockchains. BSC is used for selling and buying NLIFE tokens. The Turtle Network blockchain is used for the actual gaming platform.

User wallets are non-custodial and fully controlled by the individual. There are also no transaction fees when playing a game on the platform. Users don’t need to hold BNB in order to send NLIFE back to their BSC wallet. NLIFE can be spent to send funds back to the BSC chain.

How NLIFE will work

People will need to purchase NLIFE on PancakeSwap to get liquidity. This can then be staked and users will receive a portion of each sell order on PancakeSwap.

Each transfer is taxed at 2.5%, except those made to or from the platform itself. Of this, 1.5% goes to the liquidity stakers: NLIFE or BNB. The remaining 1% goes back into the project for future development and services.

The amount a user receives is determined by the amount staked, divided by the total staked among all users. Then a second layer solution is utilized through Turtle Network. With this users will experience fast block times and NLIFE will be able to sponsor assets.

Sponsoring assets basically means that users won’t pay transaction fees while playing games. Sending tokens from BSC to Turtle Network is done through a gateway, from a user’s BSC wallet to their noncustodial NLIFE wallet on Turtle Network.

A transaction fee (TX) will be charged in NLIFE so users don’t need to hold BNB in order to send from their NLIFE Wallet to their BSC Wallet. This removes the need of loading additional assets to their NLIFE Wallet.

Night Life Crypto is undoubtedly progressive

Through the limitless potential of blockchain, Night Life Crypto is creating a space for gamers that is more progressive than the current centralized way of doing things.

Breaking boundaries by steering away from NFT-based games, Night Life Crypto is working on exciting games and services that do not exist on any other platform.

By combining DeFi and blockchain, Night Life Crypto is creating solutions to issues in both gaming sectors.

This exciting platform is undoubtedly progressive, creating a space for gamers to explore the world of cryptocurrency in a transparent way. The nature of blockchain guarantees the safety of their data and information.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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I have two degrees in Corporate and Business Communication and have over three years of work experience as a content writer, covering topics from tech to travel and hard news. I have always been curious about crypto and let that progress into full-time fascination as Commercial Content Editor at BIC. I am also a plant-eater, book worm and cat mom!

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/night-life-crypto-leaders-in-blockchain-gaming/

Blockchain

People’s Bank of China With a Broader Crackdown on Bitcoin and Crypto

China’s central bank has prohibited numerous banking and payment organizations from operating with cryptocurrencies.

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The Chinese crackdown on crypto continues to escalate with a new statement from the nation’s central bank banning more banks and payment providers from interacting with digital assets.

  • CryptoPotato reported today that one of the country’s largest banks, the Agricultural Bank of China, had prohibited its clients from doing business with anyone even remotely connected to the crypto space.
  • Although that had an immediate adverse effect on the market, with prices starting to tumble, the country has only intensified its anti-crypto measures.
  • A new statement from the People’s Bank of China reads that it has taken further actions to prevent market manipulations, illicit virtual currency transactions, and to “protect the citizens’ property.”
  • More specifically, the country’s central bank has spoken to other giant banking organizations, like the China Construction Bank, the Industrial Bank, and Postal Savings Bank, and the payment processor Alipay.
  • Following the meeting, the PBoC has instructed those entities to stop providing cryptocurrency services, like opening accounts or executing transactions, to their respective customers.
  • “The relevant departments of the PBoC pointed out that virtual currency trading activities disrupt the normal economic and financial order, breed the risks of illegal cross-border transfers of assets, money laundering, and other illegal and criminal activities, and seriously infringe the people’s property safety.” – reads the statement.

  • With these actions, the central bank has only doubled down on its stance against the cryptocurrency industry.
  • The world’s most populated nation has repeatedly outlined its ban and even targetted Bitcoin miners located within its borders, ordering them to cease operations.
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Source: https://cryptopotato.com/peoples-bank-of-china-with-a-broader-crackdown-on-bitcoin-and-crypto/

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Blockchain

MicroStrategy Owns More Than 100,000 Bitcoins After Another Purchase Worth $500 Million

MicroStrategy has done it again with another sizeable purchase of over 13,000 bitcoins, and the firm now owns more than 100,000 coins.

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Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist.

  • The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st.
  • It came after the firm raised $500 million through an offering of senior secure notes, as reported earlier.
  • As Saylor explained, the 13,005 coins were purchased for just under $500 million with an average price of $37,617.
  • With its latest massive buy, MicroStrategy owns 105,085 bitcoins. It has allocated a total of over $2.7 billion in the asset at an average price of $26,080.
  • From a percentage point of view, the number of coins MicroStrategy has now is 0.5% of all bitcoins ever to exist and 0.56% of the tokens currently in circulation.
  • Apart from its sizeable investment in BTC, the firm and its CEO have also done multiple other pro-bitcoin endeavors.
  • MicroStrategy hosted an online BTC conference for executives from large corporations, aiming to outline the benefits of investing in the primary cryptocurrency.
  • The firm made bitcoin its treasury reserve asset and started paying non-employee directors in BTC instead of cash.
  • Additionally, Saylor launched a course of its own for retail investors and has used every opportunity to praise the cryptocurrency on traditional media.
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Source: https://cryptopotato.com/microstrategy-owns-more-than-100000-bitcoins-after-another-purchase-worth-500-million/

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Grayscale to Include 13 DeFi Tokens

Grayscale, the popular crypto manager, plans to include 13 new DeFi tokens in its investment products. The tokens will offer real-world applications to cryptocurrency owners. The Grayscale team released an asset list back in February, indicating their willingness to add new products. Names like MKR, AAVE, ADA, ZTX, DOT, etc., were among the list. While …

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Grayscale, the popular crypto manager, plans to include 13 new DeFi tokens in its investment products. The tokens will offer real-world applications to cryptocurrency owners. The Grayscale team released an asset list back in February, indicating their willingness to add new products. Names like MKR, AAVE, ADA, ZTX, DOT, etc., were among the list. While the complete list included multiple names, Grayscale clarified that it would not add every token under their portfolio. The crypto manager needs to complete multiple regulatory considerations before officially adding the tokens. 

When discussing in detail, Grayscale is currently hosting various tokens such as Bitcoin (BTC), Chainlink (LINK), Basic Attention Token (BAT), Zcash (ZEC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Decentraland (MANA), Livepeer (LPT), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Horizen (ZEN), and Filecoin (FIL). On the other hand, the platform released a basic list of 13 news tokens, such as 1inch (1INCH), 0x (ZRX), Bancor (BNT), Universal Market Access (UMA), Curve (CRV), Solana (SOL), Internet Computer (ICP), Ren (REN), Kava (KAVA), Polygon (MATIC), Kyber Network (KNC), NEAR (NEAR), and Loopring (LRC). Further, the crypto managing site is also considering adding more tokens to their asset list soon.

Grayscale to Include 13 DeFi Tokens

Earlier this year, the Grayscale CEO, Michael Sonnenshein, said that the company has been moving forward with innovations to connect the finance sector with crypto/digital assets-centric financial system with the aim to offer their investors as much diversity as possible in this zone. The DeFi sector is on a roll as Grayscale plans to add 13 DeFi tokens to its portfolio. Given the stature of involved parties, this development will help the sector for a long time.

Grayscale to Include 13 DeFi Tokens

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptonewsz.com/grayscale-to-include-13-defi-tokens/

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UK Bank TSB to Prohibit Crypto Purchases on Binance and Kraken

The bank has singled out Binance and Kraken, saying the exchanges have failed to…

The post UK Bank TSB to Prohibit Crypto Purchases on Binance and Kraken appeared first on Coin Journal.

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The bank has singled out Binance and Kraken, saying the exchanges have failed to respond to security concerns

A man walks past a TSB Bank building in London

UK bank TSB is looking to prevent 5.4 million of its customers from using their accounts to buy cryptocurrency.

The commercial lender is reportedly taking this step because of concerns over increased fraud at crypto exchanges, which expose their users to further losses.

According to sources cited by The Times, TSB is specifically targeting Binance and Kraken for what it terms as the platforms’ ‘low security standards‘ that make the two exchanges most vulnerable to fraudulent activities.

The bank, which operates 536 branches across the UK, has cited instances of weak security that have allowed fraudsters to “set up e-wallets and steal people’s money.”

On 15 June TSB published advice to its customers asking them to “be extra vigilant when it comes to crypto investment advisors.” According to the bank, customers should guard against engaging with calls, e-mails or texts from crypto-related sources as they are “a scam.”

Binance denies TSB claims

TSB Bank reportedly received 849 fraud-related reports on Binance alone between March 15 and April 15. TSB customers claimed to have lost money in the 30 days, with the bank then seeking Binance’s response on the matter.

However, according to The Times report, the exchange failed to cooperate and “hardly” does regardless of all efforts.

Binance has refuted these claims, adding that it takes its responsibility on user protection “very seriously.”

When we are made aware of these claims, we immediately take action and have an excellent record of working with law enforcement agencies,” Binance said in a statement.

Kraken has also responded to TSB’s fraud accusations, with the exchange’s compliance officer Steven Christie stating that the platform Kraken had “responded to well over 1,000 different requests from law enforcement agencies in 2020 alone.”

He added that the exchange’s operations adhere to regulatory and compliance requirements.

The move by the TSB bank comes just days after UK regulator FCA warned that most crypto investors did not pay attention to warnings and advice regarding cryptocurrency investing.

Its latest research showed that nearly 2.3 million UK adults hold crypto or have invested in it before. However, just one in ten knew of the various regulatory warnings about cryptocurrency.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinjournal.net/news/uk-bank-tsb-to-prohibit-crypto-purchases-on-binance-and-kraken/

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