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Tortola, British Virgin Islands, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Smart contracts have been one of the biggest components of the crypto/blockchain space ever since Ethereum introduced them in 2015. Since then, countless projects have emerged trying to offer this same feature, copy Ethereum, and try to attract developers and users and become the next big thing in crypto.

The problem with smart contracts, however, is that they used to be very difficult to create. You couldn’t just get one like selecting a form to fill out at the bank, provide the necessary information, and have the show on the road.

Instead, every smart contract needed to be created individually, which required technical knowledge. Naturally, since this is an all-digital environment, that meant knowing how to code.

Of course, coding is very widespread today, and every developer knows how to code to a certain extent. Some are better than it, some aren’t as good yet, but the fact is that they all know the basics. But, for some chains that came up with their own coding language, that meant learning a whole new programming language, so you couldn’t just employ any developer — you had to seek out those who were versed in blockchain technology.

For companies who could leverage blockchain's tech through smart contracts - where their specialty isn't technology - this idea is even further out of reach.

These days, the situation is significantly better. A lot more people have educated themselves in the ways of blockchain technology, while blockchain has adapted itself by allowing coding in languages that many developers were already familiar with. Still, in order for the use of blockchain and smart contracts to go mainstream, things need to be simplified even further, and that is what Transient Network is planning to do.

What is Transient Network and what does it do?

Transient Network calls itself the Amazon of smart contracts, and that is exactly what it wishes to become. It is a young but rapidly growing ecosystem, built from the ground up, with the goal of facilitating and increasing blockchain adaptation across every sphere of industry, and more importantly — our everyday lives.

The project has a series of goals, all of which revolve around smart contracts. It decided to help increase their adoption by making them code-free, thus removing the need to rely on developers so much. It also aims to deliver their seamless integration, so that businesses would be encouraged to start using them without having to experience any difficulties.

It also wishes to make them as useful and as universal as possible, which is why it also focuses on their interoperability. Their diversity is also a major focus of the project, hence the nickname of ‘The Amazon of Smart Contracts’ that the project gave to itself.

Smart contracts also need to be useful for the real world, which is another major goal of the company. And, finally, it wishes to make them better than ever before, which is why it is working on creating next-gen contracts.

Transient aims to have its smart contracts used in every aspect of crypto and real-world alike, from use in crypto markets to medical industry, real estate, logistics, entertainment, banking, procurement, law/legal, gambling and casinos, digital influencers, advertising, eSports and more. ESports will benefit greatly from the upcoming TSC-eSports dApp that is in development and will soon be available. TSC-eSports is an ecosystem of P2P market creation of your favourite competitions and a number of services relating to facilitating eSports competitions and team management — taking social betting and content driven experiences to the next level.

Each of these sectors — as well as many others — can be improved or even fully revolutionized through the use of smart contracts, and blockchain technology, in general. However, in order for that to happen, contracts first need to be easy to use, which is a major barrier for businesses. Crypto businesses are already using them, of course, since they are just another product of the blockchain. However, their implementation into traditional finance and non-finance industries requires a bit of convincing.

So, the best thing that can be done is to make smart contracts as easy to use as possible, as useful as possible, and make sure that it can open as many new doors as possible. That’s what Transient is all about, aiming to serve everyone, from individuals to mega-corporations, from freelancers to well-established businesses. In doing so, it wishes to help speed up the change that will ultimately come, impact the whole world, and make our technology work for us in the most productive and efficient way possible. All the use cases and new releases are detailed on Transient Network company website. On their Medium you can find information about their upcoming IDO - which is basically the IPO of the crypto world

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Company: Transient Network

Email: hello@transientnetwork.io

Website: https://transientnetwork.io/

News

Helium Network, a provider of decentralized wireless infrastructure, has concluded a $111 million token sale led by some of the biggest venture firms in the blockchain industry. 

The sale, which centered around Helium’s native token, HNT, was scooped up by several venture capital firms, including Andreessen Horowitz. Alameda Research, Multicoin Capital and Ribbit Capital also contributed, according to BNN Bloomberg.

General partner at Andreessen Horowitz Ali Yahya told Bloomberg that new cryptocurrency protocols like Helium will “challenge centralized incumbents” and compete with bigger telecommunication service providers.

Yahya tweeted Tuesday that his firm will work with Helium to create a "grassroots telecom network" of the future. 

— Ali Yahya (alive.eth) (@alive_eth) August 10, 2021

The founder of Alameda Research, Sam Bankman-Fried, described Helium as a “tremendous opportunity to bring 5G to the masses around the world and greatly enrich the quality of their lives.”

Related: Smart cities are the future, but they might threaten privacy

Helium, which was founded in 2013 by Shawn Fanning, Amir Haleem and Sean Carey, is utilizing blockchain technology to create the world’s first peer-to-peer wireless network. The company’s mission is centered around building wireless infrastructure for the Internet of Things, which describes the new paradigm of connected devices. Since launching in North America, Helium has already expanded into Europe.

The company plans to use the newly raised funds to continue building its decentralized 5G network and support mobile network operators as they expand coverage.

Andreessen Horowitz has been behind some of the biggest fundraisers in crypto. In June, the venture capital firm announced a new innovation fund that would allocate $2.2 billion to promising blockchain and crypto plays. Andreessen’s participation in crypto startups adds to the growing narrative around decentralized technologies and their role in disrupting decades-old industries.

Related: Andreessen Horowitz launches biggest-ever crypto venture fund at $2.2B

#Andreessen Horowitz #Business #Funding #Venture Capital #Internet of Things Related News Bitcoin Price Rally by 2021 Looks Likely From Five Fundamental Factors Team gallops to a new NFT standART with playable, DNA-enriched digital horses joined by famous footballer Michael Owen Bitcoin payments for real estate gain traction as crypto holders seek monetization The future of art? World-famous artists delve into NFTs Andreessen Horowitz launches biggest-ever crypto venture fund at $2.2B Blockchain analytics firm Nansen secures $12M in Andreessen Horowitz-led raise

Analysts expect Ethereum to explode with the rise in on-chain activity and increasing network adoption. Ethereum is heading closer to its key upgrade, "The Merge."

Analysts have predicted that exploding adoption will push ETH price higher 

Despite capital rotation from Ethereum to alternatives, the largest altcoin currently maintains the largest market share in the decentralized finance market.

Ethereum's explosive and consistent growth in unique daily addresses interacting on the network supports analysts' bullish narrative for the altcoin. Over the past two weeks, there has been an increase in the number of daily active addresses. 

Interestingly, the Ethereum staking contract, the largest holder of ETH, has 7.84 million tokens. Nearly 23,442 ETH is added to the ETH2 contract every day, and over 50,000 unique addresses make deposits. 

Total Ethereum staked in ETH2 contract. 

Dmitri Tsumak, the founder of ETH2 staking platform StakeWise, identified a vulnerability affecting other staking platforms Rocket Pool and Lido.

The vulnerability was patched, and the issue was resolved. Therefore, there is no immediate threat to the staking pools. Safe staking is key to Ethereum's price growth since staking has proven to be an effective mechanism to pull ETH out of circulation and trigger a supply shortage. 

A significant hurdle in ETH network growth is that Ethereum is months away from "The Merge," and traders face high transaction costs until then. WAX, a carbon-neutral blockchain that has established itself as a key player in the NFT ecosystem, has proposed two plans to introduce compatibility with Ethereum. 

WAX intends to bring low-cost transactions to the Ethereum network by running smart contracts on its low-cost and energy-efficient blockchain. 

Justin Bennet, a technical analyst, recently predicted a massive rally in the altcoin. Bennet's chart reads ETH bouncing off the bottom at $2,700 and climbing to the channel top. 

Bennet has set a target of $30,000 for Ethereum by May 2022. 

Dr. Arnout Ter Schure, cryptocurrency analyst and the founder of Intelligent Investing LCC, has set a target of $7,500. Dr. Schure was recently quoted, 

...I expect ETH to continue to set itself up for a big rally to, for starters, around $7,500.

FXStreet analysts have evaluated Ethereum's price trend and predicted a bullish breakout for the altcoin.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksCrypto bulls unfazed by flash crash

Bitcoin price action initially shakes off strong selling pressure, finds buyers at support, then resumes some selling pressure. Ethereum price action mixed post-all-time high rejection. XRP price awaits its own bullish breakout and an opportunity to outperform its peers.

More Cryptocurrencies NewsMATIC price ready for new all-time highs as $188 million flow into Polygon

The total number of transactions on Polygon network dropped nearly 15% due to a rise in transaction fees over the past week. This hasn’t negatively impacted the network as the number of unique daily active users remained stable. 

More MATIC NewsAVAX price offers a bullish opportunity before Avalanche hits new all-time highs

Avalanche (AVAX) price has seen a bullish outbreak on Thursday after it broke out above – and then retested – the red descending trend line at $61.62. With even more buyers and bulls coming in, expect a run towards new all-time highs at $81.

More AVAX News XLM price building base for bullish breakout

Stellar bulls are in the last phase of completing a bullish triangle. As XLM price is getting squeezed against the base ($0.40), expect a quick breakout of 12%. After taking a breather, expect another 10% of profits to follow. 

More Stellar NewsBEST CRYPTO BROKERS/EXCHANGESMore infoMore infoMore infoBitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast BTC ETH XRP Crypto partners in your location

A widely followed crypto strategist and trader is predicting Bitcoin (BTC) to revisit its all-time high soon while outlining the potential price action of Cardano (ADA), Fantom (FTM), Celer Network (CELR) and Verasity (VRA).

In a new strategy session, Michaël van de Poppe tells his 134,000 YouTube subscribers that he’s bullish on Bitcoin and that he expects the leading crypto asset to make a push toward its all-time high of $64,000 as long as it stays above a key level.

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“[Regarding the] crucial levels for Bitcoin at this point… We’ve got a nice break into the upside, so we’re looking at a potential continuation if we sustain above $55,000 to $55,500. If that happens, I’m assuming [the] all-time high test is around the corner, and that’s going to be great.” 

Looking at Cardano, the crypto strategist says the smart contract platform will likely continue to bleed against Bitcoin (ADA/BTC) before it can carve a bottom.

“I would not be surprised if we get a corrective move all the way back toward 0.000031 BTC [$1.77] – 0.000032 BTC [$1.89]. Right now, you just want to have [a] clear confirmation that a bottom is in.” 

Based on Van de Poppe’s chart, he expects the ADA/BTC pair to reverse its downtrend once it hits the support area en route to launching a rally to 0.00006 BTC, which equates to $3.43.

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Next up is another smart contract platform in Fantom (FTM). In a separate video breakdown, Van de Poppe says he’s looking for FTM to pull back before it can resume its uptrend.

“If you want to get any trade going on Fantom, you [should be] looking at [the] area around $1.68 to $1.48. If it comes there, it grants you the best opportunity. And then, if you want to look for a potential entry point, you’re using the previous high [and] previous low. [The] next target zone is the area around $3.35 and potentially even $5.” 

As for Celer Network, Van de Poppe says that the layer-2 scaling platform is currently in a downtrend against Bitcoin (CELR/BTC). He’s targeting 0.000002 BTC ($0.11) as a potential entry point.

The last coin on the trader’s list is next-generation video sharing protocol Verasity. Van de Poppe says he’s also looking for VRA to correct before it can ignite a potential rally of over 80% from his entry point.

“But this is the region [$0.04] that you’re looking at with a target zone at $0.08.”

Check Latest News Headlines  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Welcome to The Ask, where each week Crypto Investor interviews essential voices doing the work to make crypto 'mainstream.' Exchange lightly edited.

This week, senior reporter Stacy Elliott spoke to Luis Schliesske and David Liebowitz, the co-founder and growth manager at Gelato Network. The web3 project, which launched in 2018, just closed an $11 million Series A round last week. The bots they build allow for automation in a way that most smart contracts don’t support. One of their most popular bots allows users to place limit orders on Uniswap, guaranteeing buy and sell transactions only happen at a specified price or better.

After getting what they consider a head start in the automation space by launching during the bear market that followed the 2017 ICO boom, the Gelato Network team has seen new competitors enter the space. Here they talk competitors, their most popular bots and what’s next.

Before we talk about some of the bots Gelato has built, let’s get an explainer out of the way. What is Gelato and why does web3 need it?

Liebowitz: I would compare us to AWS Lambda for smart contracts – we’re visual and what I like to describe as general-purpose automation in the same way that Ethereum is general-purpose computation.

So with the theory of [Ethereum co-founder Vitalik Buterin] uses, he basically says any computer program that can be created will be on an Ethereum virtual machine. So that gives, like, infinite design possibilities for Gelato. Any function within those computer programs that can be automated will be.

We consider that a huge, really wide mandate on what use cases to build on top of Gelato in the same sense that any application can be built on top of Ethereum. Like you see DeFi, DAOs, you see different tools. With Gelato, you can have different use cases built on top of the network and basically have them plug into a decentralized network of bots.

Gelato Network tackles automation in a few different ways. Walk me through some examples.

Liebowitz: We got a grant from Aave to do collateral protection on Aave positions. We also work with Instadapp to refinance maker loans. So basically, with those, if your health factor gets too low, then with the Aave position it basically sells their collateral to pay off the debt so you don't get liquidated and refinances your loan into Aave or Compound or wherever you can get the best rate.

Another one – this is probably my favorite one – it’s a Uniswap V3 manager called G-UNI. It was built for market makers to use, not really average users. So, you know how put positions are in ticks that are NFTs? So we kind of took the same mindset as Uniswap V3, and how they did it, but built a wrapper that auto compounds that piece. It wraps the NFT in an ERC-20 token so it’s compatible with other protocols. It basically turns Uniswap V3 into V2 again.

One of our final tools is a general-purpose automation tool for the general-purpose automation layer. We call this PokeMe. It’s simple, like an If This, Then That service. We’ve seen people use it for things like auto-compounding, auto-harvesting. All different types of yield aggregators use it for that.

How do these connections happen between Gelato and the protocols for which you’re building automation bots?

Liebowitz: We’re an unbiased, general framework for automation. And so there have been times where we make a proof of concept to show protocols what we’re capable of.

An example of that is Sorbet Finance. That’s basically our own platform for limit orders. So we built that and were able to integrate it with QuickSwap, which is the biggest [decentralized exchange] on Polygon, and SpookySwap and SpiritSwap, which are some of the highest TVL [automated market makers] on Fantom.

Where’s your competition coming from? Are smart contracts getting smarter or are other companies directly competing with you?

Schliesske: Definitely the latter. We were alone with this idea for quite some time. I think part of the reason is that we started in the bear market, when not too many people were paying attention. We also went a bit conservative. We didn't, you know, launch a pump and dump token or something like that.

Slowly, very slowly, we started getting some traction. And then the dynamics changed a bit. For example, Chainlink now tries to do the same thing we do. I think, to be honest, they just saw an opportunity here as well. After they got to know us and work with us, they just probably saw it as an adjacent market to theirs and also want to expand into it.

Liebowitz: I would kind of compare Chainlink getting into the automation space the same way that Instagram decided to do Reels after TikTok. TikTok really carved their own lane with their whole video app, the whole structure of it, their algorithm. And then Instagram saw an opportunity and even though they weren’t native to reels they came in with their own version of Reels and basically did the same thing.

With Gelatto, we carved out own lane with deep automation protocol and have been here for years. And it’s only recently that Chainlink and others announced expansions to offer more automation.

So what’s next for Gelato?

Liebowitz: Soon we're coming out with a UI for people just to deploy their own unique rules. So let’s say you’re a strategist and you want to basically run your own unique strategy and you want other people to be able to get involved. We’re building a UI where you can make your own unique strategy and act as the quote-unquote manager of it. So that's something we have coming out soon. 

Welcome to The Ask, where each week Crypto Investor interviews essential voices doing the work to make crypto 'mainstream.' Exchange lightly edited.

This week, senior reporter Stacy Elliott spoke to Luis Schliesske and David Liebowitz, the co-founder and growth manager at Gelato Network. The web3 project, which launched in 2018, just closed an $11 million Series A round last week. The bots they build allow for automation in a way that most smart contracts don’t support. One of their most popular bots allows users to place limit orders on Uniswap, guaranteeing buy and sell transactions only happen at a specified price or better. Subscribe for full article

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The Shiba-Inu-themed cryptocurrency’s utility is rising with news of AMC’s adoption of DOGE as a payment method. Traders are now anticipating a reduction in transaction fees and a recovery in DOGE. 

Dogecoin update to reduce fees, likely to trigger breakout in DOGE

The Dogecoin core has been regularly updated over the past month. In August, a new version of Dogecoin Core, v1.14.4 was released to improve performance and lower recommended fees. 

The recommended update is not installed by all node operators. Its installation would enable future fee reductions in the DOGE network. Billy Markus, co-founder of Dogecoin tweeted about this recently, 

— Shibetoshi Nakamoto (@BillyM2k) September 22, 2021

Once all major miners update to the latest version, transaction fee is expected to reduce 1000x for relay and 100x for mining. This is the first step towards lowering the recommended fee for DOGE, another network adaptation is expected to follow. 

With regular updates in its ecosystem, the altcoin’s utility is on the rise. Nearly 600 merchants accepted DOGE payments in January 2020, the number has climbed to 1704 since then. 

The altcoin’s rising acceptance becomes further evident from its rising social dominance. Over the past week, DOGE ranked in “top 10 most mentioned cryptocurrencies” on Twitter. A rise in social media mentions is followed by a rally in the altcoin. Analysts expect DOGE to recover, the altcoin is struggling after price was rejected at key resistance level. 

@venturefounder, a cryptocurrency analyst and trader, is of the opinion that even the most resilient memecoin, DOGE, is losing its dominance. The analyst predicts that there is a wait ahead of the next “perfect storm,” meaning a surge in Shiba-Inu-themed cryptocurrency’s price. 

— venturefoundΞr (@venturefounder) September 23, 2021

FXStreet analysts have predicted a drop in DOGE price to $0.15. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksCrypto bulls unfazed by flash crash

Bitcoin price action initially shakes off strong selling pressure, finds buyers at support, then resumes some selling pressure. Ethereum price action mixed post-all-time high rejection. XRP price awaits its own bullish breakout and an opportunity to outperform its peers.

More Cryptocurrencies NewsMATIC price ready for new all-time highs as $188 million flow into Polygon

The total number of transactions on Polygon network dropped nearly 15% due to a rise in transaction fees over the past week. This hasn’t negatively impacted the network as the number of unique daily active users remained stable. 

More MATIC NewsAVAX price offers a bullish opportunity before Avalanche hits new all-time highs

Avalanche (AVAX) price has seen a bullish outbreak on Thursday after it broke out above – and then retested – the red descending trend line at $61.62. With even more buyers and bulls coming in, expect a run towards new all-time highs at $81.

More AVAX News XLM price building base for bullish breakout

Stellar bulls are in the last phase of completing a bullish triangle. As XLM price is getting squeezed against the base ($0.40), expect a quick breakout of 12%. After taking a breather, expect another 10% of profits to follow. 

More Stellar NewsBEST CRYPTO BROKERS/EXCHANGESMore infoMore infoMore infoBitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast BTC ETH XRP Crypto partners in your location

Market Update

The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social media and initiated an abrupt fall in the price of Bitcoin (BTC) from $45,000 to $42,000. 

After the initial knee-jerk reaction and a brief period of time for the market to digest the news, traders jumped back in to buy the dips on several altcoins, which helped some of the losses seen earlier in the day.

Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers over the past 24-hours were Ren (REN), Celer Network (CELR) and Civic (CVC).

Ren brings DAI and BTC to Arbitrum

Ren is a blockchain protocol that focuses on facilitating interoperability and liquidity transfer between different blockchain networks through a series of darknodes that help to protect user privacy.

According to data from Cointelegraph Markets Pro, market conditions for REN have been favorable for some time.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

As seen in the chart above, the VORTECS™ Score for REN was in the green zone for the majority of the past week and hit a high of 81 on Sept. 21, around two hours before the price increased 58% over the next three days.

The positive momentum for REN has come as the protocol has launched wrapped forms of Bitcoin and DAI on the Ethereum (ETH) layer-two solution Arbitrum.

releases cBridge 2.0

The Celer Network is another Ethereum layer-two scaling solution that has been gaining momentum in recent weeks thanks to its ability to lower transaction costs through the use of off-chain transaction handling, which helps to increase the scalability and the transaction throughput of its network.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CELR on Sept. 20, prior to the recent price rise.

As seen in the chart above, the VORTECS™ Score for CELR climbed into the green on Sept. 18 and reached a high of 74 on Sept. 20, around 26 hours before its price began to increase by 99% over the next three days.

The increase in price and demand for CELR has come following the launch of its cBridge 2.0 cross-chain token bridge that facilitates the transfer of assets between multiple blockchain protocols, including Ethereum, Binance Smart Chain and Arbitrum.

Related: Diminishing returns: Is Bitcoin underperforming compared to altcoins?

Civic partners with Solrise Finance

Civic is a protocol focused on providing a blockchain-based identity management solution capable of satisfying Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements from regulators while also protecting the data and privacy of users on the network.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CVC on Sept. 21, prior to the recent price rise.

As seen in the chart above, the VORTECS™ Score for CVC began to pick up on Sept. 21 and reached a high of 74 around eight hours before its price increased by 45% over the next two days.

The boost in momentum for Civic comes following the Sept. 23 announcement that the protocol has partnered with Solrise Finance to help launch the first permissioned decentralized exchange (DEX) on Solana.

The overall cryptocurrency market cap now stands at $1.879 trillion and Bitcoin’s dominance rate is 42.1%.

#Bitcoin #Cryptocurrencies #Altcoin #China #Ethereum #Bitcoin Regulation #Markets #Cryptocurrency Exchange #Market Update #REN #DeFi #layer2 #Markets Pro Related News Ousting the Greenback: USD Still King as BTC and CBDCs Mount Challenge One platform tries to rejuvenate gamers’ favorite childhood memories using Web 3.0 Australian Senators pushing for country to become the next crypto hub Top 5 cryptocurrencies to watch this week: BTC, AVAX, ALGO, XTZ, EGLD Rari, Telos and Polymath rally as Bitcoin price hits $44K DeFi and DEX volumes soar amid China’s crypto ban and US regulatory risk

DIA Association has announced that its open-source data feeds are available on Celo’s mobile-first network. The integration will enable new end-user applications on Celo to ingest DIA’s data feeds including an extensive library of digital and traditional asset prices. 

DIA’s approach to oracles fundamentally differs from competitors like Band or Chainlink in that it sources data directly from on-chain sources, exchange APIs and more and offers strong customizability in methodologies and sources to meet varying data needs for a wide range of smart contract developers and is able to deliver one of the broadest set of data feeds for long tail assets with smaller volumes and exchange integrations. 

DIA’s code base and entire end-to-end data provision process from sourcing to delivery is fully transparent and open-source.

With the consistent emergence and growth of new L1 and L2 ecosystems in 2021, the need for reliable and transparent data feeds extends beyond incumbent ledgers like Ethereum. DIA has been consistently driving the effort of delivering data feeds to emerging new ecosystems. Recent integrations have encompassed networks including Moonriver, Arbitrum, Shiden Network, Polkadot, Polygon, Binance Smart Chain, xDai, among others.

Celo, founded in 2018, is an up and coming ledger designed to empower mobile-driven financial services like sending money to phone numbers, paying merchant users on a decentralized platform that is operated by a community of users and more. 

To achieve this, Celo provides a complete stack of a new L1 blockchain network, core smart contracts that run on that blockchain and enable end-user applications. Major DeFi applications such as SushiSwap are already building on the Celo network. DIA will now support dApps to build on the Celo ecosystem with access to its transparent market data.

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On October 21, the IOTA Foundation announced the beta release of the next-generation Smart Contracts solution that focuses on interoperability, flexibility, and accessibility and is ready for testing.

The fully functional smart contract solution offers several new features to resolve current scalability and transaction fee issues while providing new features currently unmatched in the crypto space.

Feeless Network

IOTA Foundation aims to build a new digital economy by redefining how people and devices connect to share information and value. Being not profit-driven, Foundation encourages the creation of standardized and open-source technology.

With the launch of IOTA Smart Contracts Beta, IOTA Foundation makes history by enabling users to create and execute custom intelligent contracts on a feeless network for the first time. The Tangle allows users to set their own smart contract execution fees or go completely feeless.

Unlike on Ethereum blockchain, IOTA Smart Contracts enable developers to set their execution fees. This dynamic pricing creates an incentive to drive costs down since different chains can compete for the work of executing a smart contract. Zero-fee smart contracts become tangible with IOTA’s Beta release.

“When we released the IOTA Smart Contract Protocol Alpha in March of 2021, we sketched our vision of where the future of Smart contract innovation was headed and how we would eventually enable those innovations on IOTA. The IOTA Smart Contract Beta is the realization of this vision,”said Dominik Schiener, Co-Founder and Chairman of the IOTA Foundation.

New Digital Economy

IOTA Technology integrates with the current industry standard set by Ethereum, with Ethereum Virtual Machine (EVM) support. However, IOTA Smart Contracts Beta adds flexible fees that can support feeless transactions through zero-fee smart contracts.

Users will be encouraged to test IOTA Smart Contracts using several supported programming languages, such as Go, Rust, and Ethereum’s Solidity. Developers can now write Solidity smart contracts inside an EVM chain anchored on the feeless IOTA Tangle.

This choice is in line with the IOTA Foundation’s commitment to interoperability and standardization, two cornerstone principles of the new digital economy.

“We have integrated some of the defining features of IOTA – interoperability, flexibility, feeless transactions – into a smart contract solution for a new generation that we believe will become industry standard once it is released on the IOTA main net. We invite as many users as possible to try out the current Smart Contracts Beta and to see for themselves how much potential this release has,”shares Schiener.

Power of scalability and interoperability

The IOTA Foundation’s approach to smart contracts represents a shift away from existing architectures. It addresses their inefficiencies, such as the inability for parallel and scalable execution, the failure to run “foreign” smart contracts on different virtual machines, and being hindered by volatile and sometimes prohibitive fees.

The most powerful and unique feature of IOTA Smart Contracts is its scalability and interoperability. The network already offers full sharding, making it possible to scale smart contracts beyond the current limitations on other networks.

IOTA Smart Contracts will be fully programmable and enable users to develop and test complete smart contract solutions. Completely trustless and powered by feeless native asset transfers, the technology will guarantee interoperability between smart contracts.

By leveraging native tokenization on the IOTA Ledger, all smart contracts can wrap assets onto the base layer. This makes all smart contracts and any digital asset created on IOTA fully interoperable without the need for trusted relays or bridges. This will enable powerful new composability for dApp developers and new possibilities for users to engage in the ecosystem.

Automated and Error-Proof Smart Contract

IOTA Smart Contracts Beta will include the Smart Contracts Schema tool feature, which helps automatically generate many of the standard-form sections of a smart contract and reduce time or error rate. Like regular paper-based contracts, smart contracts consist of a fair boilerplate, which takes considerable effort to generate manually.

With the IOTA Smart Contracts Schema tool, users can input the functionalities they wish to include into the smart contract they are writing and have the system automatically generate and test the appropriate boilerplate code.

The Schema tool currently works on Go and Rust smart contracts. Future IOTA Smart Contracts releases will expand their functionalities and add convenience, such as automatically-generated client codebase libraries.

The IOTA Smart Contracts Beta can be tested on the IOTA 2.0 DevNet. The IOTA Foundation is now working to bring its smart contract solution to the IOTA main net so that users can enjoy the entirety of Smart Contract functionalities even before the IOTA 2.0 release. The next version of IOTA Smart Contracts will include expanded EVM integration and a permissionless market for chain validators.

On The Flipside

As the technology is in the testing phase, the future and the feedback from the userbase will show the possible weaknesses, strengths, and opportunities for this breakthrough technology.

Why You Should Care?

High transaction fees were a massive problem for wider crypto adoption. By significantly reducing the transaction cost, IOTA Smart Contracts will contribute to a broader blockchain technology adoption and become a standard in the industry.

The IOTA Foundation’s approach to smart contracts represents a shift away from existing architectures and addresses their inefficiencies to innovate the entire ecosystem, as the use cases of smart contracts are innumerable.

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While most of the crypto market continued to suffer through a correction over the past week, a handful of low-cap altcoins skyrocketed in value.

DESO, the native token for Decentralized Social, surged by more than 90% over the past seven days. The 75th-ranked asset by market cap is trading at $140.16 at time of writing, according to CoinGecko.

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According to the project website, Decentralized Social aims to be a “blockchain custom built from the ground up to power and scale a new category of decentralized social applications to one billion users.”

Last week when DESO launched, entrepreneur and software engineer Nadir Al-Naji revealed he was also the creator of BitCloud, and previously known only as Diamondhands, The Block reports.

Al-Naji has received $200 million of investment capital for the new project from a number of venture firms, including Andreessen Horowitz, Sequoia, Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Polychain Capital, Pantera Capital, and Arrington Capital.

The native token for the financial technology (fintech) payment solutions platform COTI (COTI) skyrocketed by 86.6% in the past week. The 140th-ranked asset by market cap is trading at $0.586221 at time of writing. Coinbase added support for COTI across all its platforms last month.

DYDX, the native token for the decentralized margin trading platform dYdX, also surged by 86.6% over the past seven days. The 91st-ranked asset by market cap is trading at  $21.98 at time of writing, according to CoinGecko.

Activity on DeFi trading platforms has ballooned in the wake of China’s latest ban on cryptocurrency, CoinDesk reports.

CELR, the native token for the layer-2 scaling platform Celer Network, has skyrocketed by 76.9% in the past week. The 104th-ranked asset by market cap is trading at $0.156322 at time of writing.

Celer Network’s multi-chain network cBridge doubled its transaction volume in the past week, according to the project.

🌉cBridge supports the most number of chains with the lowest fee in fully non-custodial mode. https://t.co/35fICZsz3A🔖 pic.twitter.com/n0JI06TFva

— CelerNetwork (@CelerNetwork) September 25, 2021

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Submit a Press ReleaseCrypto Livewire – Press ReleasesSolana Gaming Platform MonkeyBall Raises $3 Million From Crypto’s FinestOctober 21, 2021Polygon-Based Multi-Region Fantasy Game Gaia EverWorld Closes $3.7 Million Seed RoundOctober 20, 2021OpenOcean Atlantic Outperforms Returns by Other Leading DEX AggregatorsOctober 19, 2021$SHILL Public Sale – The First GameFi Multi-Chain Initial Token Offering RevealedOctober 19, 2021MojitoSwap DEX Launched on KCC With 1,000,000 MJT Airdrops To Reward the KCS CommunityOctober 18, 2021Gate.io Partners With Pyth Network To Provide Real-Time Crypto Price DataOctober 18, 2021APENFT Foundation’s Announcement on Adjusting the APENFT(NFT) Airdrop StrategyOctober 15, 2021Submit a Guest m$4,000.26$4,000.262.26%Binance 387952.37%SpotlightDogecoin Primed for a 500–1,000% Multi-Month Rally if It Hits This Level, Says Crypto Analyst Justin BennettOctober 16, 2021Here’s Why 2022 Will Be Insane for Bitcoin, According to Crypto Trader Lark DavisOctober 19, 2021Top Crypto Trader Says Ethereum Rival Solana Will Outshine Both Bitcoin and ETH – Here’s His TargetOctober 22, 2021Here’s Why Billionaire Real Estate Mogul Barry Sternlicht Owns Two Different Crypto AssetsOctober 17, 2021

News

Automated market maker (AMM) MonoX has announced the official launch of its mainnet platform, offering investors a full complement of swap and liquidity capabilities on the Ethereum and Polygon blockchain networks.

With the release of this new service, Mono X is aiming to establish a cost-effective and accessible infrastructure for liquidity providers seeking to propel their projects to the market and traders interested in engaging in token swap services.

In the case of traditional decentralized exchanges (DEXes) such as dYdX, it is necessary for projects to provide two tokens to build a liquidity pair, a requirement that increases the capital barrier for entry. With the single-sided liquidity feature, projects only need to stake their native token, which means that they can offer more overall liquidity to the market.

According to the official announcement, the liquidity pools implemented upon launch are as follows: On Ethereum, assets include Ether (ETH), Wrapped Bitcoin (WBTC), USD Coin (USDC) and Tether (USDT), while on Polygon, assets include Polygon (MATIC), WBTC, USDC, USDT and Wrapped Ether (WETH).

Last month, the AMM raised $5 million in capital funding to support the decrease of mandatory capital and liquidity levels for decentralized finance (DeFi) projects offering swap, borrowing and lending derivative services on DEXes.

At the time, the project was still in beta development, but this announcement marks a transition to full-scale implementation in the DeFi space.

MonoX CEO Ruyi Ren told Cointelegraph  how MonoX is utilizing single-sided liquidity pool innovation to reduce the barrier-to-entry for new DeFi participants:

"Protocols that use liquidity pairs result in capital requirements to participate in DeFi being high. With our model, all you need to do is deposit your own token to the pool (0 collateral). Project owners can list their tokens without the burden of capital requirements and focus on using funds for building the project instead of providing liquidity."

Related: DeFi liquidity pools, explained

In addition, Ren spoke of the potential impact Value Backed Tokens could have on the wider DeFi ecosystem:

Value Backed Tokens (VBT) are tokens that are already backed by other assets. Financial derivatives, game tokens, NFT shards, DAO tokens, and even some stablecoins all fall into this category. With MonoX, we don’t require extra collateral so once a staked Ether is minted, it can be tradable on MonoX with zero capital requirement. #Blockchain #Decentralization #Ethereum #Decentralized Exchange #DeFi #Liquidity #DEX Related News Crypto Crime on the Rise — Good Odds of 2020 Becoming a Record-Breaker Cryptocurrency mining company achieves major growth by reinvesting profits into diverse solutions Celer (CELR) gains 400% after traders embrace its multi-chain ‘cBridge 2.0’ solution DeFi and DEX volumes soar amid China’s crypto ban and US regulatory risk DeFi picks up the pace as alternate blockchains and NFTs boom Truly decentralized finance will be beyond siloed blockchains

Bridges offer a way to migrate assets between blockchains. Crypto Briefing unpacks some of the top bridges offering interoperability between Ethereum and other chains.Ethereum Bridges Usher in Multi-Chain Era

Since crypto’s fabled “DeFi summer” of 2020, cross-chain bridges on Ethereum have exploded in popularity. Fueled by the growing number of DeFi options across various Layer 1 networks and the rising costs of using Ethereum mainnet, the use of bridges to move assets from one network to another has soared.

Today, the leading cross-chain bridges allow Ethereum users to migrate ERC-20 tokens to other networks.

Bridges are permissionless applications that allow users to send tokens and arbitrary data between blockchain networks. By deploying bridge connections, various competing or complementary networks have attempted to capture a portion of the value generated on Ethereum, the most used blockchain for DeFi and NFTs.

Ethereum bridges offer a way to send assets to EVM-compatible networks like Binance Smart Chain, Avalanche, and Fantom, as well as non-EVM-compatible networks like Solana and Terra. Ethereum Layer 2 solutions and sidechains also boast interoperability with Ethereum via several bridges.

To bridge tokens from Ethereum to other networks, users deposit assets into a bridge contract deployed on Ethereum mainnet. The same amount of the asset is then minted on the other network. The tokens get burned when the assets are moved back to mainnet, and are then made available on the network. 

In theory, all Layer 1 and Layer 2 networks could have a mechanism to send and receive assets from Ethereum to other networks. Sending funds to an EVM-compatible network is a simpler process; users can connect through an Ethereum-based wallet like MetaMask. 

When migrating Ethereum-native assets to a non-EVM-compatible chain like Solana, the bridge connecting the two networks uses two different wallet addresses and token standards. This means that users have to connect both an Ethereum and Solana-compatible wallet, such as MetaMask and Phantom. 

As the race to capture DeFi and NFT activity has intensified in recent months, multi-chain bridges have begun to play a crucial role in the crypto ecosystem. Solutions like Hop Protocol and Celer Network have proven popular by deploying Ethereum smart contracts that let users transfer assets from mainnet multiple Layer 1 and 2s. 

Binance Bridge Binance Bridge is a popular point of entry from Ethereum to Binance Smart Chain, an EVM-compatible blockchain developed by the world’s largest crypto exchange. Through the bridge, ERC-20 tokens are wrapped into BEP-20 assets for use on Binance Smart Chain applications like PancakeSwap, Venus Protocol, MDEX, and Alpaca Finance. Ethereum users can access the bridge by adding Binance Smart Chain to their MetaMask or alternative Web3 wallet. There is currently over $5.78 billion locked in the Binance Bridge. 

Avalanche Bridge 

Avalanche is one of Ethereum’s top challengers. It boasts high throughput and offers EVM compatibility with support for Aave, Curve, and Sushi, along with a host of native dApps.

The best way to transfer ERC-20 tokens from Ethereum Avalanche is through the Avalanche Bridge. Similar to Binance Bridge, the Avalanche Bridge can be accessed through MetaMask. Once the assets are bridged, tokens are appended with the symbol “.e.” For example, the bridged USDC token is called USDC.e.

All transfers across the bridge must be approved by three of four trusted partners of the Avalanche Foundation, also known as wardens. There’s currently around $4.8 billion locked into the bridge contract. The Avalanche bridge does not support ERC-721 tokens, so it’s not possible to move NFTs onto the network. 

Solana Bridges: Wormhole, Sollet and Allbridge

Solana is arguably the strongest competition to Ethereum’s dominance today. Solana is faster and cheaper than Avalanche, with block times of around half a second. Those who want to send ERC-20 tokens to Solana can use two primary bridges: Sollet and Wormhole. 

Tokens sent from Ethereum to Solana are wrapped and minted to the SPL token standard via Wormhole and Sollet, which allows them to be used across Solana dApps. About $265 million is locked in Wormhole, and $217 million in Sollet. 

It’s worth noting that tokens that bridge to Solana using Sollet or Wormhole will not be compatible with each other because Sollet-wrapped tokens are different from Wormhole-wrapped versions of the same ERC-20 tokens. 

Wormhole is the more popular of the two bridges. Unlike Sollet, it also lets users transfer NFT tokens, whether they were minted as an ERC-721 token on Ethereum or an SPL token on Solana. While the two bridges charge less than a cent for a single cross-chain transaction, Ethereum gas fees are significantly higher. 

In addition to Sollet and Wormhole, a multi-chain bridge solution called Allbridge recebtky launched. Using liquidity pools containing more than $1.5 billion in value locked, Allbridge enables token transfers to Solana from Ethereum and other blockchains like Binance Smart Chain, Avalanche, and others. 

Fantom is another top contender in the Layer 1 race. Like Avalanche, it operates an EVM-compatible network called Opera that is faster and cheaper than Ethereum mainnet. 

Fantom is perhaps the only chain that does not use a 1:1 standalone direct bridge service with Ethereum. Instead, it predominantly uses a multi-chain solution called AnySwap to execute cross-chain transfers across multiple EVM networks. The Fantom AnySwap bridge is currently the go-to solution to send tokens from Ethereum to Fantom and vice versa. 

As a multi-chain liquidity solution, AnySwap uses pools consisting of specific tokens deployed across multiple chains for bridging. This system allows for tokens to be sent to Fantom from Ethereum, Avalanche, Polygon, and Binance Smart Chain. AnySwap’s Ethereum-Fantom bridge currently holds about $2.1 billion in value locked.

There are currently three other platforms for bridging tokens to Fantom from Ethereum and other chains: multichain.xyz, SpiritSwap, and SpookySwap. These solutions use AnySwap as their backend but have gained popularity by offering user-friendly web interfaces. 

Polygon Bridges

Many bridge solutions have also been created to allow for moving ERC-20 tokens to and from Ethereum sidechains like Polygon.

Polygon is the biggest sidechain network that runs parallel to Ethereum. It has experienced parabolic growth over the last year, helped by several Ethereum-native DeFi projects expanding to the network. It currently holds more than $9 billion in total value locked. 

The main entry point from Ethereum is via the Polygon POS Bridge. Users can deposit ETH or any other ERC-20 token to Polygon and then send them back to Ethereum mainnet. Deposits typically take a few minutes, while withdrawals back to mainnet take about an hour.

Polygon operates another bridge with Ethereum called Plasma, which is primarily used for withdrawing ETH to mainnet. However, the drawback is that all ETH withdrawals get locked for up to seven days before they can be redeemed on mainnet. 

Besides Polygon’s own bridges, Hop Network also allows for bridging ETH and other assets to Polygon. It uses liquidity pools to transfer tokens and has gained traction thanks to its quick deposits and withdrawal times. It usually takes no more than 10 minutes to deposit and withdraw to the bridge. 

Layer 2: Rollup Bridges

Optimistic Rollups are off-chain protocols managed by an on-chain Ethereum contract, allowing for cheaper and faster transactions than on Ethereum mainnet. Rollups compute off-chain, but they publish proofs on-chain, so the data can be rolled back to mainnet if there is an issue.

The two leading Optimistic Rollups are Optimism and Arbitrum, which have a combined total value locked of over 2.5 billion. The Layer 2 solutions have soared in popularity as DeFi projects like Uniswap and Sushi have announced plans to launch on the networks.  

To access Layer 2, users have to deposit funds into a bridge deployed on Ethereum mainnet, which credits the same funds on the rollup at the same specified address. While deposits to Layer 2 Rollups are finalized in a matter of 15 to 20 minutes, withdrawals have a seven day waiting period. 

Thousands of users have already moved funds from Ethereum mainnet to Arbitrum via the Arbitrum Bridge. Moving tokens to Optimism requires using a bridge called Optimism Gateway. The requests for deposits and withdrawals to these Layer 2 rollups can be made through a MetaMask wallet. 

As an alternative to the official bridge platforms, multi-chain liquidity solutions like Hop Network and Celer can also be used to make deposits and withdrawals to Arbitrum and Optimismm, with much faster withdrawal times. Both solutions can also make it possible to bridge ERC-20 tokens between two Layer 2 networks without moving to mainnet. 

Terra’s Shuttle Bridge

Terra is a rising DeFi hub built using the Cosmos SDK. Popular Terra dApps include Mirror Finance and Anchor Protocol. Terra operates a bi-directional bridge with Ethereum called Shuttle. 

The bridge was designed to move Terra-based assets to Ethereum via wrapping, but not the other way around. For this reason, only whitelisted assets can be moved back and forth between the two chains. To move funds from Ethereum, users must first convert ETH to Terra-based ERC-20 tokens such as wrapped UST. 

As shuttle does not support ETH, there is no way for users to bridge the asset directly onto Terra. However, users can stake ETH on Lido Finance and get staked ETH (stETH), which can be bridged to Terra through Lido’s interface on Anchor Protocol. stETH is wrapped to bETH, which can be used to earn rewards on Anchor.

Other Bridges in Development

Other non-EVM networks like Polkadot and Cosmos are building bridges, but most of them are at a very early stage of development. Cosmos will offer bridge services with the soon-to-launch Gravity Bridge, and there is another bridge being developed by Evmos. Similarly, ChainBridge plans to connect Ethereum to Polkadot’s Moonbeam parachain.

There are many more bridge solutions running or in development. As more Layer 1 and Layer 2 networks hoping to capture some of Ethereum’s market share see their ecosystems develop, bridges look set to make composable interoperability a reality over the coming years. 

Disclosure: At the time of writing, the author of this feature owned ETH and SOL. 

This news was brought to you by ANKR, our preferred DeFi Partner.Learn MoreShare this article

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All you need to know about the lending industry

For blockchain to be a viable alternative to our current centralized financial systems, it needs to support a high number of transactions. But unfortunately, many are lagging behind non-blockchain options for actual usability. Celer aims to change this, and Celer network coin is right at the forefront of the battle.

Ever thought that blockchain solutions need to be better, faster, stronger? The Celer network developers would agree — and they’re trying to change that using Celer network coin (CELR).

Using new technological advances, Celer aims to create a hub where developers can make effective Blockchain applications without sacrificing security or decentralization. We’ll explain how Celer aims to do it, why it even wants to, and whether you should get involved.

For apps developed on the blockchain to be feasible, developers usually find themselves choosing between fast transaction speeds, security, and decentralization. This is also known as the famous “blockchain trilemma”. Celer was created as a solution to ensure they won’t have to.

The Celer Network is a layer-2 scaling platform. But that might not mean much to you, so let’s explain in a little more detail.

Layer-1 protocols are the surface-level architecture in the blockchain — generally, these are the parts that relate to transactions like mining, voting, staking, and more. The best-known cryptocurrency networks are usually layer-1 protocols, including Bitcoin and Ethereum.

Meanwhile, layer-2 protocols are built on top of the layer-1 architecture to add extra capabilities, such as the ability to make “off-chain” transactions (which don’t use the layer-1 protocol). In the case of Bitcoin, its Lightning network is a layer-2 protocol.

You can have layer-1 architecture without layer-2 architecture, but you can’t have layer-2 architecture without layer-1 architecture.

Celer is a place where developers on any blockchain can build decentralized apps (dApps), This provides more use cases for underlying layer-1 blockchains and their cryptocurrencies.

Since layer-2 networks like Celer build on top of protocols based on the first layer, they make use of the chain’s existing security and verification protocols. This allows them to focus solely on efficiency or new functions while the original chain worries about basic functions like transactions. 

One example of a layer-2 project is Augur. Augur is a Dapp built on Ethereum that lets you bet on the outcomes of different events around the world with your ETH. This is something Ethereum alone couldn’t offer and in return, it increases the demand for the Ethereum blockchain.

Since crypto protocols need to introduce complex solutions to keep their platforms decentralized, they often end up running slowly and less efficiently. This in turn makes it more difficult for them to produce more tools on their blockchains which limits their usefulness and can limit adoption.

Celer network’s native coin, CELR, is used to ensure liquidity, stability, security, and connectivity of the economic system within the Celer network, aptly called the cEconomy.

CELR is essential for the three following processes:

CELR is also used to pay transaction fees and make payments to service providers (who make dApps) within the Celer network.

Celer network was launched in late 2018 by a self-described team of PhDs from MIT, Princeton, and UC Berkeley — many of whom formerly worked for tech giants like Google and Amazon.

The first Celer Network token sale took place in March 2019 on the Binance Launchpad. It raised $4 million in 17 minutes on the platform, with Binance accounting for 97% of the initial trading volume. Not a bad start.

In the second half of 2019, Celer partnered with TROY to improve the platform’s layer-2 trading. And in February of 2020, Celer partnered with Polkadot to bring layer-2 scaling to a new blockchain network called Parity.

When CELR launched back in 2019, it was worth roughly $0.02 per token. Its value has mostly remained between $0.001 and $0.02 ever since. The price failed to increase dramatically after its launch.

Although there was a high point at the beginning of 2021, when Celer coin’s price shot from $0.004 to $0.02, it dropped down again soon after.

Not exactly the most promising growth path for investors.

However, as mentioned earlier, Celer has successfully collaborated with two major crypto projects. These prove Celer has some traction within the industry.

Another exciting development was the launch of Celer’s mobile gaming app, CelerX. In September 2020, it became the first mobile esports platform using blockchain to bring in more than $3 million from player winnings in a month.

It’s easy to argue that the performance of Celer network coin’s price has been lackluster so far, but if you believe in the mission of the technology, you might think it’s worth taking a look at.

If you fancy investing in CELR, you can of course purchase it on an exchange. But if you don’t want to trade your crypto for it you might want to buy it on loan through platforms like MyConstant. 

We’re a P2P lending platform that lets you use your crypto for a USD of stablecoin loan. If you choose to take your loan in a crypto like CELR, we scour all the major exchanges to find the lowest price on the market at any given time and make the trade for you.

A crypto-backed loan from MyConstant also offers:

If you want to dip your toes into a CELR investment but are wary about selling your crypto, sign up for free today and see what you could be doing with your crypto today.

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The Network Bypass

Ethereum is undergoing a significant network change in how consensus is reached in the network. In the ‘Into The Bytecoin’ podcast, Tim Beiko and Danny Ryan, who coordinated the ETH 1.0 and ETH 2.0 upgrades, discussed how PoW expanded the network’s value proportionally by broadening the community and justly disassociating itself from early PoS obsession.

Vitalik Buterin pushed to release phase 0 of Ethereum during 2020 after developers such as Justin Drake argued that it could only be released during 2021, “at the earliest.” Still, with the ETH 2.0 genesis block being produced on December 1st, 2020, Danny Ryan emphasizes that it’s “easy to see the messy part” because it’s all transparent and public.

He further argues that people fail to see the end result, which is a lucrative and fully functional product. The podcast’s host adds that such an “idealistic and pragmatic” design is imperative to the operational success of blockchain and, ultimately, the entire network.

As ETH 2.0 is on the fast track towards “The Merge,” which will see the consensus switch from PoW to PoS, foundation developers are stress-testing the network testnet to ensure “a smooth transition.” Ben Edgington, a ConsenSys’ developer, highlighted that developers managed to achieve a “multi-client merge devnet,” as the final pieces of the ETH 2.0 puzzle fall into place.

A Plethora of Changes

On October 27th, Ethereum will initiate the Altair hard-fork, offering clients a “low stakes warm-up” for the functionality of the Beacon Chain. In addition, Altair adds additional elements to facilitate “The Merge,” creating processes that correct any shortcomings in rewards and participation efforts.

Ethereum’s much-anticipated upgrade adds new interaction dynamics between the network and its actions. ETH 2.0 will supplement the security layer and will create a scalable, more sustainable system. Thus, with the introduction of staking, interplays between stakes and reward networks will change; specifically, the amount of ETH the network issues after “The Merge.”

In a podcast with Laura Shin, Justin Drake revealed that the amount of ETH issued to stakers will decrease by 10x, causing “triple halvening.” Despite the EIP-1559 update, which has burned a record number of ETH, the new mining mechanism will issue less ETH than it is currently burning. As a result, the lack of supply, and the growing demand for ETH, will transform the token into what it is called “UltraSound Money,” as scarcity drives up the “monetary quality of ETH.”

On The Flipside

There is no estimation for how much network fees will decrease on the network, or whether they will decrease enough to continue to incentivize users to use Ethereum.Ethereum has burned 560,219 tokens; however, the value of ETH is still highly dependent on Bitcoin’s actions.Network validation will still be arbitrated between block creators and validators. One element that will not change is the MEV (Maximal Extracted Value), as transaction ordering on ETH 2.0 will be the same as on the PoW network. However, as argued in a hackmd post, with ETH 2.0, validators will have control in ordering blocks over miners.

Validators on the network will therefore earn more than they currently do in the ETH 1.0 format. It is estimated that they will earn 70.9% more than in the current network design. However, Forkast News noted that MEV poses threats to the network as it entitles miners, as well as validators in the PoS system, to select transactions to be added to the network.

Why You Should Care?

Ethereum took a long time to set the foundations and advance towards PoS. Nonetheless, the entire network, not only the miners, will benefit from the shift as less ETH supply will drive up demand for ETH tokens, which in turn will increase the value of a single token.

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Opinion

“Yahoo users will not be able to interact via mail with Google email (Gmail) users,” — If tomorrow’s headlines sounded like this, the earth would come to a halt. This headline shall never see the light for all the right reasons. However, blockchain tech and its favorite son, decentralized finance (DeFi), are heading towards this rabbit hole.

Siloed blockchains with no window for external communication are dominating the nascent space. Interconnectivity is elementary and synonymous with the primitive human quality of being social. From the days of the barter system, transfer and exchange have been the two core practices on which the world has been built.

among blockchains and the need for IBC

Currently, blockchain applications and the DeFi juggernaut are nothing but a balkanized group of solutions failing to realize their true potential. To resolve this concern, blockchain networks need to shake hands with other networks and be open to a sovereign network of interconnected blockchains.

The Inter-Blockchain Communication (IBC) protocol shall facilitate this shaking of hands. It lays the platform that can transfer data across different networks and facilitates the cross-chain transfer of assets and tokens. And since IBC is a blockchain agnostic protocol, it has no native network and offers an unbiased solution to the entire world of blockchain solutions.

Major blockchains, like Bitcoin and Ethereum, are siloed without a transport layer. This limits their capabilities. Imagine Bitcoin being able to power Ethereum-based smart contracts in a permissionless manner. Had this been so, users would have been able to embrace the boundless functionality of Ethereum’s smart contract alongside the world’s popular currency in Bitcoin (BTC).

Related: A multichain approach is the future of the blockchain industry

Also, Ethereum’s scalability concerns are a testament to why siloed blockchains need Inter-Blockchain Communication. By making networks interoperable, transactions can be parallelized to avoid network congestion. Using IBC, Ethereum can validate transactions quickly with fewer gas fees, attracting more people to use the network and its applications.

Moreover, blockchains seeking to be enterprise-level solutions need IBC and interoperability to cater to their clients at scale. By enabling cross-chain transactions, networks like Ethereum and Bitcoin can enjoy institutional adoption. How? To date, these networks work on the probabilistic conduct of transactions, i.e., the finality of blocks. But with IBC, chains and peg-zones can be used to guarantee finality.

With blockchain tech desirous of revamping the working of huge industries like supply chain and healthcare, IBC injects a potion of reliability into the technology and its solutions.

Prior efforts to achieve IBC were unitedly fragmented

Inter-Blockchain Communication and interoperability are not novel concepts in the blockchain world. Efforts to achieve them have been in the talks for years now and there have been multiple projects working towards connecting different blockchain networks. But the projects championing interconnectivity were themselves fragmented as their approaches, designs and use cases differed.

Related: Professional traders need a global crypto sea, not hundreds of lakes

Protocols like Cosmos with its Tendermint core, Polkadot and Chainlink have championed IBC and interoperability in their solutions. The emergence and adoption of these solutions are a giant stride towards an interoperable future.

Blockchain agnostic and omnichain is the way forward

Moving forward, exclusivity will be the biggest enemy of blockchain tech. In times of decentralization and community-first approaches, exclusive networks tread a dangerous path. Protocols must embrace IBC and provide solutions at scale.

Besides integrating IBC, two weapons with which future protocols can equip themselves are blockchain agnostic and omnichain. This would remove the element of exclusivity and open them to limitless utilities across networks. It would also improve the feasibility and reliability for institutions, corporations and maybe even governments to adopt blockchain-based solutions.

The DeFi juggernaut catalyzed the growth of blockchain and crypto space in 2021. Interoperability and IBC are the ones to look out for in the future.

is the director of marketing at Sifchain, the omnichain solution for decentralized exchanges. Jared has extensive experience in the crypto space, especially with exchanges. #Bitcoin #Blockchain #Decentralization #Ethereum #Adoption #Chain #DeFi Related News Blockchain Can Disrupt Higher Education Today, Global Labor Market Tomorrow A consulting expert and market expert supports the growth of new cryptocurrency projects Want to improve blockchain infrastructure? Work under layer-two solutions

Remember IOTA? IOTA was designed to rethink blockchain and achieve mainstream adoption. Somewhere along the way it took a few wrong turns, but now it seems to be back on track.

© ZDNet

After relaunching in March 2021, today IOTA is releasing a beta version of its smart contracts implementation, with a few notable features such as zero fees, Ethereum interoperability and compatibility.

Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. You can think of them of code with crypto guarantees and security, and they power some of blockchain's most advanced functionality such as DAOs and DeFi.

We caught up with IOTA Foundation co-founder and CEO Dominik Schiener to discuss the rollout, as well as progress made since March 2021.

The new IOTA

Schiener described the transition to Chrysalis, IOTA's network upgrade, as "a huge success". IOTA now has a complete new protocol, implementation, and cryptography, but all token holders were on the old network. So an interoperability solution had to be developed, to enable token holders to move from one network to another.

This is called a bridge, and Schiener said that so far more than 75% of the total IOTA supply was bridged from the legacy network to the Chrysalis. That's over $3 billion worth of tokens, and successfully and securely migrating to the new network was no small feat. The new network is running smoothly, transactions are confirming in less than 10 seconds, and the Firefly wallet has been a big success too, said Schiener.

Having 75% of the total tokens in circulation transition to the new network in 6 months sounds good, but what about the rest? Schiener noted that if you think about it, a network currency like IOTA is deflationary, and users might lose access to their keys, or otherwise lose access to their tokens.

According to Schiener's estimation, a total of 85% of the tokens will transition to Chrysalis. For the rest, token holders will get to decide what happens. People will be able to vote, not just for this but for all governance decisions, via their Firefly wallet. One vote for one token, which is the simplest, fairest and most secure way to do this at the moment as per Schiener.

Schiener added that Coordicide, i.e. the removal of the coordinator node in the network that helps in the validation of transactions, is also going well. A development network is running, and the insights gained from this are used to improve the implementation. The goal is to be able to present a path towards general availability to the community before the end of 2021, Schiener said.

The other major blocks of the new IOTA are also in good shape, Schiener reported. That is, rate control, i.e. determining which transactions among the ones issued are preferred via a token called Mana, and oracles, i.e. the ability to bring data from the outside world to IOTA.

Project Alvarium, which is a collaboration with Dell Schiener referred to as an IoT oracle, was just admitted as a Linux Foundation project. In addition, IOTA is working on another solution based on digital identity, which will be generally available by the end of 2021 too.

IOTA aims to address digital identity, Schiener said, as one of the big problems today is if you do digital entity on Ethereum for example, you have to pay transaction fees. Logging into a website or a service shouldn't cost money, and IOTA has high hopes of addressing this, Schiener added.

Smart contracts with zero fees, Ethereum interoperability and compatibility

Progress seems to have been made on all fronts, but the main course is smart contracts. Schiener acknowledged that IOTA is late to the smart contracts market. Ethereum has had that since 2015, and so has Polkadot. IOTA has been focused on making the base layer, i.e. the ledger, work as efficiently as possible, including making it feeless:

"For the last two years, we've been working on this new approach to doing smart contracts on top of IOTA. So far, everybody realized that doing smart contracts with the DAG as a blockchain simply does not work, because you need to have the transaction ordering, plus there is some timestamp complexity. So the smart contracts with blockchain is the most feasible way right now.

What we are actually doing with our smart contract solution is we are launching blockchain networks on top of IOTA. IOTA is this DAG, this directed acyclic graph. We now have blockchain networks on top that utilized to execute smart contracts, and they are leveraging the base layer, which is IOTA, for security" said Schiener.

© Provided by ZDNet IOTA is unveiling its smart contracts, with a clear onboarding path and many interesting features for developers

Schiener highlighted the interoperability aspect of IOTA's smart contracts. This means that one smart contract is able to communicate with another smart contract by, for example, transferring assets from one blockchain network to another blockchain network. What IOTA does is it spins different networks on top of its base layer, using sharding, and the smart contracts that run on those networks can talk to each other.

That's a very different approach to what Ethereum does, where everything runs in the same network. The way to think about this is that there will be different types of blockchain networks, Schiener said. For example, there might be one main open network where anybody can deploy a smart contract. But if you want to use another network with different characteristics, or even spin out your own, that's also possible.

That also includes the fees each network charges; each network is able to define its own fees. With Iota smart contracts, you can define how much you want to charge for transactions, potentially even making it feeless by providing the right incentives, Schiener said.

What is happening with other networks today, for example Cardano or Polkadot, is that there are validators are securing the smart contracts. Schiener believes validators there aren't really incentivized enough to compete with each other. "What we want to do let you as a smart contract developer define the incentives that you will give to a validator", he added.

Last but not least, IOTA's smart contracts are compatible with Ethereum's Virtual Machine (EVM). This is the current industry standard, and developers can write smart contracts using Solidity, Ethereum's programming language for smart contracts, Rust, or Go.

Another feature of the IOTA Smart Contracts Beta is the Smart Contracts Schema tool, which helps automatically generate boilerplate code for many of the standard-form sections of a smart contract.

Schiener also emphasized scalability due to sharding, and ease of use. In terms of applications, he mentioned there are already a few, mostly in gaming, and NFTs, with tokenization and DeFi as the next big goal. All existing applications have been developed by IOTA's open source community.

Overall, IOTA's approach to smart contracts looks promising. Schiener mentioned that IOTA's strategy is not to directly compete with Ethereum, which is the market leader at this point, but rather to offer an onboarding path for people to try out IOTA's smart contract features. It seems like a pragmatic approach, and the combination of zero fees, interoperability and compatibility makes this an interesting choice for developers.

Special feature © Provided by ZDNet How Blockchain Will Disrupt Business Continue Reading Microsoft and partners may be compensated if you purchase something through recommended links in this article. TOPICS FOR YOU

In this article, you will learn about the meaning of blockchain fees, how these fees are utilized and what you need to do to avoid spending much on these fees.What do Blockchain Fees Mean?

Blockchain fees (also called Transaction or Network Fees) are the fees you are required to pay anytime you use blockchain technology to process any transaction. You pay these fees mostly when you trade on a cryptocurrency exchange.

Blockchain fees are similar to the fees charged by payment processors, such as PayPal. The only differences are that blockchain fees are remitted to the blockchain and the fees are usually lower than what you get from traditional payment processors.

There are different types of fees charged by a blockchain-based platform. Asides from being used to facilitate order confirmation, the fees are also used to reward the miners or those who validate those transactions. Transaction/blockchain fees are also used to secure the blockchain network because the fees are used to confirm the authenticity of the transactions.

The different types of blockchain fees are:

·         Cryptocurrency Exchange Fees: These fees are charged when you transact on a cryptocurrency exchange.

·         Wallet Fees: You will pay these fees when you transfer crypto assets from a cryptocurrency wallet to exchange or another crypto wallet.

·         Network Fees: These are the main fees payable to the blockchain network. Network fees are used to reward the miners for the different services they render.

Specific blockchain networks have dedicated processes or models for the fees charged for transactions executed there.

Bitcoin and Ethereum are the two most popular blockchain networks. Bitcoin was the first blockchain network and has continued to dominate the crypto market. Ethereum comes behind and has been the reason for some of the recent developments in the crypto ecosystem.

So, how do these blockchain fees work across different blockchain networks?

In the case of the Bitcoin blockchain network, the fees are charged when the miners (or those who validate transactions) pick any of the orders and confirm the same.

Every order or transaction processed via the Bitcoin blockchain network is added to a pool called Memory Pool (Mempool). This is the pool that houses most of the pending or unconfirmed transactions on the blockchain network.

The miners will then pick any of these pending transactions and add the same to the next block for confirmation. The faster the miners do this, the faster it will take for Bitcoin-based transactions to be confirmed.

In return, these miners are rewarded with what is called “block rewards.” These are incentives payable in Bitcoin (BTC). The miners take a certain percentage of the fees paid by the transacting parties as their rewards for helping in the transaction/order confirmation.

The Ethereum blockchain offers another opportunity for miners to earn some rewards for confirming transactions.

The difference between the Ethereum blockchain and that of Bitcoin is that the fees paid here are called “gas fees.”

In recent months, the gas fees used in confirming transactions on the Ethereum blockchain were on the increase. This led to the move to launch Ethereum 2.0, as a mechanism for cutting down on some of the factors triggering a spike in Ethereum gas fees.

Stablecoins are crypto assets that do not fluctuate. These assets are always pegged to the United States Dollar (USD). A good example of a stablecoin is Tether USD (USDT).

Transaction fees apply for transactions made via the blockchain networks powering these stablecoins.

Many cryptocurrency investors claim that stablecoin transaction fees are one of the lowest. You can pay as low as $1 USDT for a transaction.

Ripple (XRP0 is one of the most resilient crypto assets. Despite negativities surrounding the coin, including the claims of non-regulation by the U.S. SEC, it has continued to soar.

The XRP blockchain fee is one of the most competitive. This is because no XRP coins are generated or mined when the transactions are validated by the miners.

Have you always wondered why you have to pay so much when you want to use specific blockchain networks to trade crypto coins? The Ethereum blockchain network readily comes to mind because it is one of the costliest networks to use.

These are some of the reasons why some blockchain/transaction fees are on the high side:

·         Network congestion (when there are many transactions to confirm) can trigger an increase in blockchain fees.

·         Larger transactions require more fees for validation/confirmation.

·         Some miners might prefer to confirm transactions that pay higher fees, thereby delaying the others in the process.

Read more on CoinText for tips on how to reduce the amount you spend on blockchain fees:

·         Consider processing larger amounts of crypto assets so you can spend less.

·         Check major cryptocurrency exchanges to be sure of the current blockchain fees.

·         It would be a brilliant idea to wait until the average fee amount drops before you process your transaction. This helps you to pay less.

You need to pay fees for every transaction you make via a blockchain network, cryptocurrency exchange, or crypto wallet.

Implement the tips we just shared so you can cut down on how much you spend on blockchain transaction fees.

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I work as an IT consultant in the Toronto area and I love to write blogs about a variety of subjects. My passion for writing stems from the desire that everyone should have access to meaningful information. Whether it is a blog about society, culture, technology, or social media, I don’t want to miss the opportunity of sharing my thoughts with my friends and audience. Since I believe in mutual exchange of ideas, I am always on the lookout for a feedback on my writings.

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Social media, a relatively old concept and way of connecting people have existed since 1997. Yes, over 2 decades old. It has continuously evolved so much that we cannot fully comprehend it any longer!

And now there’s blockchain, again over a decade-old science, which has since taken off. We’d think that the only connection blockchain would have is with finance and technology. However, the reach that blockchain has is massive.

That’s what The LoveChain took advantage of unleashing. A way to bridge the gap between regular old social media, to the decentralized future version of it, via blockchain.

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Basically, social media, aka The LoveChain, is where you are back to being the center of attention. The attention and care that you all deserve. A place where you are not tracked down for ad sales.

What inspired The LoveChain?

The LoveChain is a digital version of the lovelocks that can be found all over the world on bridges. It is developed as a social media platform to record and celebrate the people and things in our life that we love at all times of our lives.

Because it is based on the latest blockchain technology, it offers advantages in terms of uniqueness and security that are not available on regular social media platforms. Each user is granted their own piece of digital real estate to call their own as a result of the blockchain’s implementation. Free space for anyone and everyone. You have the power in your hands.

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Users can produce and exchange content across the network without the need for any centralized mediators. The platform will include a complete rewards system powered by the LOVR (LoveChain rewards token).

In addition, the LOVR  can be used to get discounts through the online merchant store within the LoveChain ecosystem, and users can also trade and send the LOVR tokens to one another.

The LoveChain is being built on the Algorand blockchain.

Since the blockchain is decentralized, this piece of real estate has the potential to last indefinitely, which is why their slogan is The LoveChain is Forever.

Primary goal

It’s critical to build The LoveChain platform on a decentralized network because it achieves the goal of providing members control over their data. Furthermore, because privacy is becoming more of a worry, as a result of traditional social media platforms’ indiscretions.

The LoveChain will impose restrictions on the type and number of adverts to improve the user experience and not make them feel watched.

The power of Networking embedded in The LoveChain

 The power of networks is a vital success indicator for such business models, especially for social media apps, because they rely on the interconnection between their users. Metcalfe’s Law, a principle that is critical to The LoveChain’s success, best explains this interconnection.

In computer networks and telecommunications, Metcalfe’s Law is used to represent the value of a network. According to Metcalfe’s Law, the influence of a network is proportional to the number of nodes in the network. For example, a network with 10 nodes has an intrinsic value of 100 (10*10) computers, servers, and/or connecting users can be end nodes.

When determining the worth of its network, the aforesaid calculation gives social media a lot of weight.

The LoveChain recognizes the importance of Metcalfe’s Law and has devised a strategy to boost its network footprint in order to compete with the large social media platforms. As a result, they want to establish a one-of-a-kind offering, a sizable network presence, the ability to create your own NFTs from the content you post, an eCommerce marketplace, a rewards system to go along with it all, and a whole lot of #LOVE.

For more information on The LoveChain please visit: https://linktr.ee/lovechain

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