LAS VEGAS, United States, September 19th, 2024, Chainwire

Blockchain storage layer Xandeum has announced that it will reveal its blueprint for scaling Solana storage at Breakpoint 2024 on September 20, 2024. At the flagship Solana conference in Singapore, Xandeum will also share details of its new storage-enabled liquid staking program and officially announce the launch of the XAND token.

Designed to overcome the limitations of Solana’s current storage model, Xandeum’s technology will allow dapps to scale by accessing virtually unlimited storage. Solana can be looked at as a “world computer”, and Solana accounts are its “RAM”. At Breakpoint 2024, Xandeum will share its vision for adding the “hard drive” via their scalable storage layer, the missing piece to a full-fledged world computer. This innovation enables a Cambrian Explosion of storage-enabled dapps.

The smart contract native storage layer introduces “Xandeum buckets,” an exabytes+ scalable file system integrated directly into Solana RPC nodes. Storage will be offloaded to a decentralized network of hundreds of thousands of storage provider nodes (pNodes), supervised by Xandeum-enabled Solana validators. pNodes, validators, and liquid stakers will earn additional rewards in SOL, thanks to highly dynamic fee markets designed to optimize storage efficiency and profitability.

“A low-cost, decentralized storage solution will drastically expand the application landscape.” says Tommy Johnson, early Solana builder, co-founder, and lead engineer at Armada. “It can unlock a new revenue stream for SOL validators and stakers. The Xandeum solution will have an enormous impact on the growth of the Solana ecosystem.”

More details of Xandeum’s Solana scaling solution will be shared at Breakpoint 2024. In addition, Xandeum will use the event to announce its storage-enabled liquid staking platform. Scheduled to go live on October 29, the platform will capture future Xandeum storage fees for xandSOL stakers. Early adopters who stake with Xandeum will be eligible for boosted rewards of up to 10x with more details at https://xandeum.network

As an event sponsor, the Xandeum team will have its own booth at Solana Breakpoint 2024 in Singapore, with community members able to learn more about key initiatives including the liquid staking pool, XAND token, and forthcoming airdrops. The first airdrop snapshot will take place on October 8, with the XAND token launch scheduled for October 29.

Xandeum’s development of new storage primitives to enhance Solana’s programming model will solve the issues with the current storage system, known as “accounts,” which has proven insufficient to hold even a few gigabytes per dapp. These limitations threaten to stifle the growth of web3 applications on Solana.

Xandeum lead developer Xandeum Labs has raised $2.8M to build out its scaling solution and has seen significant interest from Solana’s builder community, with over 4B transactions completed on its community-run devnet. Xandeum will support a new wave of scalable web3 dapps while maintaining Solana’s security and decentralization. 

About Xandeum Labs

Xandeum Labs is a web3 startup dedicated to building the scalable storage layer for Solana. As a major contributor to the world’s first storage-enabled liquid staking platform, operated by the XAND DAO, Xandeum has already raised $2.8 million from its community and is on track to launch its pNode network in early 2025.

Users can learn more: https://xandeum.com

Contact

Bernie Blume
Xandeum Labs
hello@xandeum.com

This article was paid for*

The US Federal Reserve decreased the Federal Funds Rate for the first time since March 2020, a decidedly bullish scenario for the crypto market.

The central bank’s aggressive 50 bps rate cut provided a bullish boost to equities, gold and crypto prices, despite the market already pricing in the move.

JUST IN:

*FED CUTS INTEREST RATE BY 50 BASIS POINTS$SPY $QQQ $VIX pic.twitter.com/1uGrFt4Aq4

— Investing.com (@Investingcom) September 18, 2024

The Bitcoin price is up by nearly 6% since the FOMC, trading as high as $63,300 today on Thursday. 

Anticipating the start of another bull run, smart money investors are stacking high-potential crypto coins, in particular meme coins. Experts believe that Popcat, WIF and new meme coins like Crypto All-Stars are some of the best cryptos to buy now. 

Why Is Bitcoin Price Going Up?

The US macroeconomic outlook now appears to be favorable for a crypto bull run. 

Not only did the Fed decide on an aggressive rate cut in Wednesday’s FOMC, its dot plot also indicates another 50 bps easing in 2024.

BREAKING:

*FED PROJECTIONS IMPLY 50 BPS OF ADDITIONAL RATE CUTS IN 2024 FROM CURRENT LEVEL, 100 BPS MORE IN 2025 AND ANOTHER 50 BPS IN 2026 pic.twitter.com/shcT80myQQ

— Investing.com (@Investingcom) September 18, 2024

Furthermore, Fed Chair Jerome Powell’s optimistic outlook on the economy essentially gave a green light to a larger bull run in financial markets.

Popular macro analyst David Brickell highlights that the US economy is currently in the ‘Goldilocks’ state – a resilient, disinflationary environment with an uptick of liquidity. 

Simply put, it is the ideal macroeconomic outlook for a major Bitcoin rally. 

For instance, popular crypto analyst Jelle (@CryptoJelleNL) highlights that the Bitcoin price has broken out of a falling wedge, which had a price target of $100,000.

Similarly, BTC is also forming a bullish flag below its all-time high, which could result in an upside move to $90,000. 

Best Crypto To Buy Now

Meme coins remain the top-performing cryptocurrencies in this cycle, making them the best crypto to buy now for the next bull run. 

For instance, the Popcat price is up by 35% since the FOMC, which experts believe is headed to a multi-billion dollar valuation. 

Similarly, the top Solana meme coin Dogwifhat is up by 17% in the past 24 hours. Experts remain confident that the WIF price will reach $10 in the coming months. 

While Dogecoin has been largely sidelined in this cycle, it is gearing up for a major breakout, considering its RSI has breached a descending trendline. 

Finally, experts are advising not to underestimate small-cap meme coins. 

For instance, a new meme coin – Crypto All-Stars (STARS) – has raised nearly $1.5 million in presale funding, indicating strong investor confidence. 

Its unique unified staking model MemeVault – which accepts 11 meme coins like Doge and Pepe to begin with – is creating a strong buzz. 

Additionally, its sound tokenomics, audited smart contract and strong community backing had made smart money investors quite bullish on the project. 

Some popular traders are even aiming for 100x returns with STARS, making it one of the best crypto to buy now. 

Visit Crypto All-Stars Presale

*Cryptonomist did not write the article or test the platform.

RedStone has introduced the first real-time price feeds on the TON blockchain. This revolutionary integration will enhance DeFi, GameFi, and social applications, providing accurate and real-time data to support TON’s expanding ecosystem.

Let’s see all the details below. 

New era for the TON blockchain: the integration of RedStone oracles promises real-time price data

RedStone, well-known provider of oracles for blockchain, has recently announced a significant breakthrough: the integration of its real-time price feeds on The Open Network (TON) blockchain.

This innovation represents a crucial step for the TON ecosystem, which will benefit from precise and up-to-date financial data. 

These are essential for the development of advanced applications in the decentralized finance sector (DeFi), blockchain-based games (GameFi), and decentralized social platforms.

With this move, RedStone marks the first integration of oracles on TON, creating a new standard for access to critical real-time data. 

In an interview, the chief operating officer of RedStone, Marcin Kazmierczak, confirmed that this integration represents an unprecedented step for TON: 

“Being the first oracle on this blockchain, we could not follow any existing model. It is a truly innovative implementation.” 

This marks not only a technical milestone, but also an opening towards new growth opportunities for the TON ecosystem.

The technological innovation of TON

Compared to traditional blockchains like Ethereum, the integration with TON presents unique challenges, mainly due to the technical design of this network.

TON uses a complex message transmission mechanism, instead of the classic smart contracts present in many other blockchains. 

This system requires particular attention to security measures and technical infrastructure. 

Kazmierczak highlighted that the integration was more challenging compared to EVM (Ethereum Virtual Machine) environments due to TON’s dedicated sharding system, which makes its operation more complex but also more efficient in terms of scalability.

This complexity has not discouraged RedStone, which has worked intensively to create a secure and reliable solution. 

Thanks to this integration, developers on TON can now access precise and real-time price feeds, an essential element for executing complex financial protocols that require decisions based on accurate data. 

This is particularly important for DeFi, where small errors in prices can lead to significant losses or inefficiencies in automated trading protocols.

The integration of RedStone oracles has the potential to transform the entire TON ecosystem. With the availability of real-time data, projects on TON can expand and create new types of applications. 

Kazmierczak explained that this integration could act as a multiplier for the growth of DeFi and GameFi applications on the network.

In particular, the GameFi ecosystem, which combines gaming elements with decentralized finance, could greatly benefit from more precise and up-to-date data. 

The ability to have accurate and reliable prices in real-time is fundamental for the functioning of many GameFi applications.

Which often depend on dynamic market mechanisms to incentivize players and maintain economic balance within the games.

At the same time, social applications on TON could see a significant expansion, mixing DeFi components to create new user experiences based on financial rewards or token-based reward mechanisms. 

Future prospects and expansion

In any case, RedStone does not stop here. The company is exploring further sectors that could benefit from its oracle technology, including liquid staking and restaking. 

These new horizons could open further avenues to improve the functionalities of the TON blockchain, making it more competitive in the global landscape of criptovalute.

Furthermore, the recent fundraising of 15 million dollars by RedStone, led by Arrington Capital, demonstrates the market’s confidence in the potential of this technology. 

This financing was used to expand RedStone’s products and to consolidate its position as a leader in the integration of oracles with innovative blockchains such as TON. 

The founder of Arrington Capital, Michael Arrington, stated that the decision to invest in RedStone was motivated by the company’s ability to “drive the evolution of Web3 infrastructure”.

The integration of RedStone with TON represents a new and promising chapter for both entities. 

TON, with its unique and highly scalable structure, could now attract new developers and projects thanks to the presence of reliable and real-time financial data, provided by RedStone. 

On the other hand, RedStone once again demonstrates to be a pioneer in the oracle sector, expanding its presence and technology on new blockchains.

This article was paid for*

Even though the entire cryptocurrency market is experiencing volatility, certain gaming cryptos are trending sideways. These assets, including BETU, show no signs of budging from the straight lines they are painting on the price charts. 

The native crypto of the BetU ecosystem, a crypto betting platform, BETU, hasn’t shown much action lately. Even the token’s recent performance has drawn flat horizontal lines on the price charts. Does it have a chance to weather the current market’s volatility and move up, or should investors look at other investments with a higher chance of better gains? 

BETU Price Drops By 1.21% on the Monthly Chart

Although BetU has only painted horizontal lines on the price charts, CoinMarketCap shows that its value has dropped by 1.21% since last month. Its market capitalization is barely touching $30k.

However, for some reason, the BetU community sentiment chart is bullish. 

Another thing to note is the website linked on the BetU price tracking page on CoinMarketCap doesn’t work, and their X hasn’t posted for several months. One of their last tweets mentioned a BetU airdrop, it’s unclear if that materialised.

BetU Price History

BETU was listed on Gate.io in Q3 2021, and its performance was bullish. The gaming crypto leveraged the bullish sentiment then and reached its all-time high of $0.3. 

However, a series of steep corrections followed, ultimately dropping the BETU price to around $0.00022, around which it is currently trading.

That said, a closer look at the BETU yearly price chart shows a different trend. The token’s price fluctuated at different times over the last year. 

In October 2023, it reached $0.001 before dropping the same day. Similar spikes emerged on the graph in March, July, and September of 2024. However, these spikes pumped the BetU price to the $0.008 level each time. 

This indicates two aspects. First, the price action is very volatile, and second, the surges might be associated with specific events that BetU has organized.

BetU Price Prediction – 2024 and Beyond 

BetU’s performance has been bearish after it peaked in the fourth quarter of 2023. The spikes that have emerged this year may be tied to specific events. With that in mind, here is the key information about the BETU price action for this year and beyond. 

2024

There has been no significant development within BetU’s ecosystem that gives us an optimistic view of the token’s future price action. Furthermore, any surges that this cryptocurrency project has experienced this year have been spikes. The last one in July was likely due to the response to the airdrop that is claimed to have been launched on April 15th. 

Exciting news! $BETU token airdrop launching April 15th – don't miss your chance for HUGE gains! Limited spots available. Join now before it's too late! #BETU #CryptoNews #FreeTokens . pic.twitter.com/GHO105f34c

— BETU (@betuglobal) July 12, 2024

At best, another spike will likely happen, pushing the token around the $0.008 level again. 

2025

BetU’s performance next year will depend on how the community continues to perceive it this year. Even though multiple tweets have come out of its social media channels, none of them have received much traction. However, Bitcoin’s bullish price action may impact its value, allowing it to experience growth that may not be only a spike. If the BETU price action goes through the same motions it did in 2021, it may try to retest its all-time high. 

Why is Memebet Token a Good Asset to Invest in This Year?

BetU’s price action has been stable, so it will not likely show a parabolic price action soon. Furthermore, the market is volatile. Therefore, investors should look for additional assets to park funds into to make gains as early adopters. 

One such product that has been gaining traction is the Memebet Token. An ERC-20 crypto designed to support a Telegram casino that only accepts meme coins as deposits, the Memebet Token has high potential. 

The project has been designed to leverage the volatility of the crypto market to enhance the gains that could be made by betting on volatile games on the Memebet Casino. 

The Memebet Casino will be home to a wide array of games, including old and new titles. The $MEMEBET token can also be used to access gamified airdrops. 

The project’s rising popularity on Twitter and Telegram has allowed it to gain the attention of YouTubers like ClayBro, who have described how this “tiny” meme coin offers the chance for amazing gains. 

These factors make Memebet Token potentially a good investment this year. Investors can visit memebettoken.com to find the full roadmap and whitepaper.

*Cryptonomist did not write the article or test the platform.

The crypto Dogecoin (DOGE) has recently recorded a significant increase in network activity, with over 1.93 million weekly transactions. This trend suggests a possible renewed interest in the cryptocurrency, despite the stability in futures.

Let’s see all the details below. 

Stable futures and increasing interest: what it means for the crypto Dogecoin (DOGE) in 2024

Dogecoin (DOGE), one of the most well-known memecoins in the world, has recently recorded a significant increase in transactions on its network, indicating a possible return of interest in this cryptocurrency. 

According to the data provided by IntoTheBlock, in the last week the network has surpassed 1.93 million transactions, a number that has beaten that of other popular cryptocurrencies like Shiba Inu (SHIB), Floki (FLOKI), and Pepe (PEPE).

This increase in transactional activity represents an important signal for the market, which could translate into a potential bull for DOGE in the coming months.

The increase in weekly transactions, which reached the highest peak since the beginning of July, is indicative of a renewed interest in Dogecoin and could reflect an increase in the use of the network by users. 

In particular, the performance of Dogecoin in terms of transactions has consistently surpassed that of other memecoins, consolidating its role as market leader. 

Despite the significant increase, however, the volume of current transactions is still lower than the peaks recorded in February 2024, when weekly transactions exceeded 10 million.

The fact that the volume of transactions has started to grow again can be interpreted as a positive signal for those betting on a market recovery of criptovalute and, in particular, of Dogecoin.

Generally, an increase in network activity is correlated with a higher demand for a cryptocurrency, which could lead to an increase in its market value. 

However, the current level of transactions remains significantly lower compared to historical highs, which suggests that there is still room for growth.

Futures on Dogecoin and general trend of the crypto market 

Another factor to consider is the involvement of investors in Dogecoin futures. Despite the increase in transactions, the market for DOGE futures has remained stable since the end of July. 

The open interest, which represents the total number of future contracts not yet settled, has remained around 500 million dollars, according to data from CoinGlass. 

This indicates that there have not been large flows of new capital into the Dogecoin futures market.

Suggesting consequently that the increase in transactions could be driven primarily by user activity rather than by speculation or movements of institutional investors.

The relatively flat trend of the open interest in futures could also be explained by the general conditions of the cryptocurrency market. 

After the strong enthusiasm that characterized the first months of 2024, the market went through a phase of consolidation and low volatility, with many investors preferring to maintain their positions without adding new capital. 

This trend is particularly evident during the holiday period in August, when many investors tend to reduce activity in the markets.

Nonetheless, the recent increase in network activity could signal a resurgence of interest in DOGE, especially if the adoption of the cryptocurrency continues to grow. 

A sustained increase in transactions could reflect greater adoption both as a payment instrument and as a trading asset, two elements that could push the price of Dogecoin towards new highs in the coming months.

The competition of the memecoin

Another interesting aspect is the growing competition among the memecoin. While Shiba Inu, Floki and Pepe try to gain ground, Dogecoin maintains its dominant role thanks to its established history and community support.

Although transaction volumes are not at record levels, DOGE continues to show remarkable resilience in an increasingly crowded market of competitors.

In conclusion, the increase in transactions on the Dogecoin network represents an important signal for investors and traders who follow this cryptocurrency. 

If network activity continues to grow, it could translate into a greater adoption and, consequently, a possible bull in price. 

However, for now, the futures market remains cautious and the open interest has not shown signs of significant growth. It will be interesting to see how the situation evolves in the coming months and if Dogecoin manages to maintain its status as a leader among the memecoin.

The banca tedesca DZ, in collaborazione con Boerse Stuttgart, sta implementando una piattaforma di trading crypto per clienti retail selezionati. L’iniziativa mira a offrire accesso sicuro e regolamentato agli asset digitali attraverso un roll-out graduale.

Let’s see all the details below. 

New infrastructure for crypto trading: DZ Bank and Boerse Stuttgart join forces

As anticipated, DZ Bank, one of the largest financial institutions in Germany, has announced a significant step forward in offering services related to cryptocurrencies.

Through a strategic partnership with Boerse Stuttgart Digital, the Frankfurt-based institute will provide its cooperative banking clients with the opportunity to access trading and custody of cryptocurrencies. 

This project represents a further evolution in the growing interest of traditional banks in digital assets. Additionally, it aims to meet the growing demand for services related to cryptocurrencies from customers.

The collaboration between DZ Bank and Boerse Stuttgart Digital will allow retail customers to access Bitcoin (BTC), Ether (ETH) and other cryptocurrencies in a secure and regulated manner.

Boerse Stuttgart Digital, one of the most important cryptocurrency exchanges in Europe, will provide the technical and operational infrastructure necessary to ensure that transactions occur in a smooth and secure manner.

This project, according to what has been stated, will see the first banks connected already this year, with a gradual implementation.

The pilot project of DZ Bank is aimed at a selected group of retail clients, who will be among the first to experience the new trading and custody services of cryptocurrencies. 

The objective is to ensure that the infrastructure is fully operational and secure before extending the offer to a broader customer base. 

Matthias Voelkel, CEO of Boerse Stuttgart Group, emphasized that the regulated infrastructure of Boerse Stuttgart Digital is designed to meet the needs of all European financial institutions. 

Therefore, not only the German ones, providing a complete and reliable solution for cryptocurrency trading.

This means that retail customers will finally be able to access digital assets in a simple and secure way, a sector that has seen exponential growth in recent years. 

The initiative of DZ Bank represents a clear signal. That is, cryptocurrencies are entering the financial mainstream, and traditional banks are trying to meet this new demand.

A market in expansion

DZ Bank is not the only German bank to enter the world of criptovalute.

Commerzbank, another financial giant from Germany, has recently announced its plans to offer bitcoin and ether trading to its corporate clients. All this in collaboration with Crypto Finance.

This demonstrates how the banking sector is rapidly adapting to new technologies and the new needs of customers. They see cryptocurrencies as a valid alternative to traditional investments.

In other words, the initiative of DZ Bank marks an important milestone for the integration of cryptocurrencies into the traditional banking system.

Many experts predict that more and more banks will adopt similar services in the coming years, making cryptocurrencies a stable component of many clients’ investment portfolios.

Furthermore, the gradual adoption of cryptocurrency trading services by traditional banks could help reduce market volatility, attract more institutional investors, and promote greater regulatory oversight. 

This could be the first step towards a broader integration of cryptocurrencies into the global financial system. Thus opening new opportunities for both investors and banks.

Regulation as the key to success

One of the most important aspects of DZ Bank’s initiative is the compliance with the current regulations. The cryptocurrency sector has always had a reputation for volatility and high risks.

However, through partnerships with institutions such as Boerse Stuttgart Digital, DZ Bank can ensure its clients that their transactions will be secure and fully regulated. 

This is a crucial element to attract a wider audience, particularly those who are still skeptical about cryptocurrencies.

The support of Boerse Stuttgart, which has already consolidated its reputation as one of the most reliable exchanges in Europe, adds further value to the offer of DZ Bank. 

Thanks to a consolidated trading and custody platform, customers will be able to trade cryptocurrencies with the same confidence they place in their traditional investments.

SPONSORED POST*

In the dynamic world of trading, the concept of a funded trading account has gained considerable traction. These accounts allow traders to operate using capital provided by a trading firm rather than their own money, offering an enticing opportunity for those looking to test their skills without risking personal funds. However, while funded accounts come with their share of benefits, they also present a unique set of challenges. Understanding these challenges is crucial for traders who aim to leverage funded accounts effectively and sustainably.

How Funded Accounts Work

A funded trading account is essentially a partnership between a trader and a trading firm. The firm provides the capital, and in return, the trader manages the account under specific guidelines and rules. The initial process usually involves an application and evaluation stage where traders must demonstrate their skills through simulated trading or other assessments. Once accepted, they are granted access to real capital.

Trading rules and guidelines are central to the funded account model. Traders are required to follow specific risk management practices, such as adhering to maximum drawdown limits and maintaining minimum profit targets. These rules are designed to protect the firm’s capital and ensure that traders are capable of managing risk effectively.

Types of Funded Accounts

Funded accounts come in various forms, each with distinct features and requirements. Proprietary trading firms are the most common providers of these accounts. They typically offer different account levels based on a trader’s experience and performance. For instance, beginners might start with smaller accounts and stricter rules, while more experienced traders may access larger accounts with more flexible conditions.

Understanding the type of funded account that best suits your trading style and experience is crucial. Different firms have varying models, from those that focus on high-frequency trading to others that cater to long-term investment strategies.

Challenges Faced by Traders with Funded Accounts

Funded accounts come with a set of stringent trading requirements that can sometimes constrain a trader’s approach. Risk management rules, such as limits on leverage and maximum loss thresholds, are designed to prevent excessive risk-taking. While these rules aim to safeguard the capital, they can also limit a trader’s ability to implement certain strategies or respond flexibly to market conditions.

Profit targets and deadlines imposed by funding firms add another layer of pressure. Traders must achieve specific financial goals within set timeframes, which can lead to increased stress and potentially influence their trading decisions negatively.

Financial Implications

The financial aspects of funded accounts can be complex. Most funded accounts involve various fees, such as application fees, monthly charges, or performance fees. These fees can accumulate and impact the overall profitability of trading with a funded account.

Profit-sharing agreements also play a significant role. Traders often have to share a portion of their profits with the funding firm, which can reduce their net earnings. Understanding the fee structures and profit splits is essential for evaluating the true cost and potential profitability of a funded account.

Market Conditions

Adapting to different market conditions is a fundamental challenge for traders with funded accounts. Market environments can fluctuate, and strategies that work well in one condition may not be effective in another. Funded account traders must be agile and able to adjust their strategies in response to market changes while still meeting the firm’s requirements.

Additionally, funding firms may impose restrictions on the types of instruments or strategies that can be used. These limitations can further constrain a trader’s ability to adapt to changing market conditions and implement their preferred trading strategies.

Strategies for Overcoming Funded Account Challenges

One of the most effective ways to overcome the challenges of a funded account is by developing a resilient mindset. Managing stress and maintaining discipline are crucial for successful trading. Techniques such as mindfulness, stress management exercises, and regular breaks can help traders stay focused and reduce anxiety.

Embracing losses as part of the trading process is also important. Learning from mistakes and using them as opportunities for growth can help traders improve their performance and adapt their strategies over time.

Tailoring Your Trading Strategy

Aligning your trading strategy with the funding firm’s rules is vital for success. This may involve adjusting your approach to meet specific risk management requirements and profit targets. Traders should focus on developing a strategy that fits within the firm’s guidelines while still leveraging their strengths and expertise.

Consistency in performance is key. Rather than aiming for quick gains, traders should strive for steady, reliable results. Consistent performance helps in meeting the firm’s expectations and builds credibility with the funding firm.

Effective Risk Management

Balancing risk and reward is a crucial aspect of trading with a funded account. Implementing effective risk management strategies, such as using stop-loss orders and appropriate position sizing, can help protect the account and stay within the firm’s risk parameters.

Regularly reviewing and adjusting risk management practices is also important. This ensures that strategies remain effective under varying market conditions and continue to align with the funding firm’s requirements.

Conclusion

Funded trading accounts offer an attractive opportunity for traders to access capital and test their skills. However, they come with a unique set of challenges that require careful consideration and preparation. By understanding these challenges and implementing effective strategies, traders can improve their chances of success and make the most of their funded account experience.

Whether you are contemplating a funded account or currently managing one, being aware of these challenges and preparing to address them can significantly enhance your trading journey. For those ready to embrace the complexities of a funded account challenge, the rewards can be substantial with the right mindset and strategies.

*This article was paid for. Cryptonomist did not write the article or test the platform.

Among today’s news, there is the new entry of the Cardano Foundation into Intersect, a member-based organization that supports the distributed governance of the Cardano blockchain. This move aims to mark a significant milestone for the decentralized future of Charles Hoskinson’s network, promoting community-driven governance. 

Cardano Blockchain News: the entry of the Foundation at Intersect and community governance

The Fondazione Cardano has announced its membership in Intersect, a member-based organization that supports the distributed governance of Cardano.

We're stronger together. That's why the @Cardano_CF is pleased to announce today that we are joining @IntersectMBO.

As we enter the #Voltaire era, the Foundation's participation in Intersect will play a crucial role in shaping the future of the network. Let's build for the… pic.twitter.com/8oVIPC9C3m

— Cardano Foundation (@Cardano_CF) September 19, 2024

“Together we are stronger. That’s why @Cardano_CF is pleased to announce today its membership in @IntersectMBO. As we enter the #Voltaire era, the Foundation’s participation in Intersect will play a crucial role in shaping the future of the network. Let’s build the future together”.

In practice, this new entry of the Cardano Foundation, an independent non-profit organization based in Switzerland, wants to promote community-driven governance within the blockchain ecosystem. 

Specifically, Intersect is the fulcrum of the alignment of community members to build and sustain the blockchain network through committees, working groups, and events.

In this regard, Jack Briggs, director of the Intersect ecosystem, stated: 

“The vast experience of the Cardano Foundation in the development of infrastructural tools and the promotion of healthy governance aligns perfectly with our mission and we are delighted that the Foundation has joined us. The involvement of the Foundation will undoubtedly enrich the discussions of our community and contribute with valuable insights as we collectively work to shape the constitutional framework and governance structures of Cardano.”

Cardano Blockchain News: the future of decentralization in community governance 

From what has emerged, while Cardano enters the Voltaire era, characterized by full community governance, the participation of the Foundation in Intersect will play a crucial role in shaping the future of the network in terms of decentralization. 

Also Frederik Gregaard, CEO of the Cardano Foundation, stated the following:

“Joining Intersect marks a significant milestone in our commitment to the decentralized future of Cardano. As an independent organization dedicated to the advancement of Cardano as a utility for financial and social systems, we recognize the importance of community-driven governance. Through our membership in Intersect, we aim to contribute our expertise and resources to strengthen Cardano’s operational resilience and promote various use cases on the blockchain.”

Next month, exactly on October 23 and 24, 2024, there will be the Cardano Summit in Dubai, and the blockchain ecosystem is also moving with new other initiatives.

The launch of Kinka Gold (XNK): the token guaranteed by gold

And indeed, among the other novelties in the Cardano house, the most recent concerns the new entry in the ecosystem: the new Kinka Gold token (XNK), guaranteed by gold and supported by Emurgo. 

Each XNK token represents an ounce of high-quality Japanese gold that meets all LBMA standards. The gold is intended for use on the Osaka Exchange and is securely stored in remote vaults for failures worldwide. 

Not only that, XNK can act as a catalyst for other real-world asset (RWA) tokens, offering an alternative stablecoin to those pegged to fiat currencies. 

The Kinka Gold aims to increase the liquidity and use cases of gold such as loans, guarantees, and payments, by entering the Cardano DeFi ecosystem.

Solana has just unveiled the design of the upcoming smartphone “Seeker”, previewing what will be the second hardware product sponsored by the blockchain after “Saga”.

The new smartphone will host a wide range of crypto airdrops, in order to provide an economic incentive for the purchase for the users of the community.

Seeker will not only be a hub for memecoin: very interesting integrations, high technical performance, and new web3 functionalities are planned.

Let’s see all the details below.

“Seeker” Smartphone: more free airdrops for the Solana community

Solana Mobile, the internal division of the Solana blockchain dedicated to hardware development, has just teased the community with the upcoming smartphone “Seeker”.

According to what has been revealed, it will cost half as much as the previous device “Saga” and will host a slew of crypto airdrops in favor of the buyers.

We remember that precisely thanks to the airdrop incentives, Saga had sold out last December in the midst of an incredible bull rally of the memecoin BONK.

At a certain point, in fact, the economic value of the tokens given to the smartphone owners exceeded the cost of the product itself, offering a tempting arbitrage opportunity.

Even this time, it seems that Solana has chosen to attract users through airdrop rather than spending money on expensive marketing campaigns.

1/ We’ve been deep in build mode for months, and we’re excited to show you what we've been working on.

Introducing the next chapter of Solana Mobile: the Solana Seeker pic.twitter.com/2UW3Wqhymw

— Seeker | Solana Mobile (@solanamobile) September 19, 2024

At the moment, according to the data from the TwoLoot checker, the current value of the tokens that will be airdropped to the holders of the Seeker smartphone is approximately 300 dollars.

Considering a pre-order cost of 450 dollars, we know that 66% of the expense will be covered approximately by the tokens given away inside it.

Obviously, these numbers vary greatly based on the volatility of the memecoins in question. The tokens currently guaranteed as a reward for purchasing Seeker are mew, maneki, wuffy, iq50, and cwif. At the peak of the Solana ecosystem, the value of the airdrops on Saga amounted to over 1,350 dollars.

Source: https://www.twoloot.com/

Do you think that to support the trend of Airdrops, Solana Mobile has integrated the application “Airship” at Seeker which reduces the cost of token distribution.

It seems that performing an airdrop on Solana now is 4,000 times cheaper, as well as more convenient and easily accessible. 

In fact, the airdrops to the Solana Smartphone community that once cost 40,000 dollars now cost just 100 dollars.

11/ We’re excited to announce Airship by @heliuslabs, a ZK-compression tool that makes airdrops 4,000x cheaper.

Airdrops to the Solana Mobile preorder community that once cost $40k now cost as little as $100—and they can auto-allocate to Chapter 2 Preorder Token holders pic.twitter.com/9p6lOI47A0

— Seeker | Solana Mobile (@solanamobile) September 19, 2024

Not just a smartphone for memecoin: “Seeker” is much more

Although the promise of an airdrop could trigger a new wave of FOMO even for the smartphone Seeker, Solana does not intend to offer only memecoin.

For its new version, Solana is looking to offer something more to 140,000 users who have already pre-ordered the product.

In fact, Emmett Hollyer, general manager of Solana Labs, reportedly stated during the Token2049 event in Singapore that: 

“for users […] it would not just be a phone for memecoin. Seeker, just like Saga, will be a magnet for rewards, but it is also a huge opportunity for teams to create totally new experiences.”

Saga had been harshly criticized last year for its technical capabilities compared to devices like the iPhone or Google Pixel.

On the hardware front, Seeker appears lighter and brighter than the previous one, with a better camera and a longer-lasting battery.

The lower price already represents a great achievement in itself, but the real gem lies in the smartphone’s “Seed Vault”. The device is designed to ensure maximum security for the community.

Source: https://x.com/solanamobile/status/1836614412448469053/photo/1

Hollyer explained that Seeker will allow any use cases in the blockchain world, from airdrops to DeFi.

The hardware will feature integrations to improve the use and development of DePIN protocols such as Helium and Infield. 

Many brands in the Solana ecosystem have already decided to participate in the development of Seeker by offering a contribution.

The projects gain visibility as they are presented within the digital store of the smartphone, while contributing to increasing the presence of dapp.

Among the most well-known names we find Mad Lads, Fuse, Jito, Jupiter, Helium, Solflare, Tensor, Kamino, Sanctum, Mew, Pyth, Step’n and many others.

Source: https://x.com/solanamobile/status/1836614425928962474

The competition with centralized smartphone application stores

In order to gain market share in the smartphone sector, Solana aims to create a decentralized store for Seeker capable of addressing the growing adoption of blockchain products.

4/ We’ve updated the Solana Mobile dApp Store with a streamlined way to track all your rewards in one place. Discover web & mobile dApps with better navigation.

With zero fees and crypto-friendly policies, it’s home to the best web3 experiences—and Seeker exclusives are coming! pic.twitter.com/BbiqFoVgEL

— Seeker | Solana Mobile (@solanamobile) September 19, 2024

In any case, Solana is not trying to compete directly with other mobile device giants like Apple and Samsung, currently unreachable.

The cryptographic project presents different targets and objectives. It focuses more on theadaptability of blockchain dApps through a mobile format. 

Even approaching the quality standards of the two market leaders, Solana is focused on something else, as Hollyer stated at Token2049 in Singapore:

“We have a different set of goals, a different set of users. But fortunately, much of the high-end phone hardware has become increasingly available over the years.”

It is worth noting in this regard how the marketing model of the airdrop adopted for the Seeker smartphone, is not replicable with Google and Apple devices.

In fact, the internal policies of the two tech giants prevent the proliferation of cryptocurrencies distributed for free to the community.

It is impossible, according to Hollyer, to apply an airdrop when the hardware provider applies a 30% fee on sales recorded in the app store.

For cryptographic projects, giving up such a share represents an excessively high limit, with costs that exceed the internal review process.

In this regard, the director of Solana Labs has expressed the utmost enthusiasm for the development plan of a free, decentralized app store, accessible from here.

Here are his words: 

“With a zero-commission App Store, it offers a type of crypto-friendly innovation that cannot surpass Apple and Google, and many users are excited to see which apps the ecosystem enhances. What is important for us is that whatever happens on Solana happens on Seeker, and therefore we want to maintain an open app store.”

SPONSORED POST*

Discover the top 6 cloud mining platforms of 2024 and choose secure, user-friendly options to start generating passive income from cryptocurrency mining.

In 2024, cloud mining is evolving, offering unprecedented access to profitability for both seasoned investors and curious newcomers. 

For all the newcomers out there: Cloud mining allows individuals to mine cryptocurrencies by renting mining power from companies that own and operate the required equipment. Instead of investing in expensive hardware and managing it themselves, users pay a fee to use the company’s resources. When the rented equipment successfully mines a block, the reward is shared between the user and the provider.

This guide highlights the six leading cloud mining platforms, crafted to enhance users’ investment strategy.

Site NameSupported CoinsPayout FrequencyMajor FeaturesNFTCOLOBTC, ETH, LTC, USDT，USDCDaily, anytime withdrawalVariety of contracts, no hidden fees,
Sign up and get a $100 bonusECOSBitcoin, EthereDailySecure, focused on BitcoinStormGainBitcoinDailyUser-friendly,transparent, BinanceBitcoin, LitecoinEvery 8 HoursSecure, quick payoutsBitFuFuBitcoinDailyNo hidden feesNiceHashBitcoinDailyUser-friendly, transparent, 

1. NFTCOLO: A user-friendly solution
NFTCOLO has quickly become a favorite in the cloud mining community due to its efficient and straightforward approach. Founded in 2021, it utilizes cutting-edge ASIC miners and GPU rigs to maximize profitability, ensuring users receive optimal returns. The platform features an intuitive interface that simplifies the mining process, making it accessible for both beginners and experienced miners.

In addition to its focus on user experience, NFTCOLO emphasizes security by storing most funds in offline cold wallets. Users can conveniently deposit their earnings through various crypto payment options, streamlining the investment process. With automated mining and daily payouts, NFTCOLO truly exemplifies a modern solution for cryptocurrency investors.

Pros：
·Advanced Mining Technology: Utilizes the most advanced ASIC and GPU equipment to ensure high efficiency and performance, resulting in better returns.

·Strong Security Measures: Funds are protected in offline cold wallets, giving users peace of mind.

· Automatic Income: Daily payouts guarantee users a stable source of income without the need for ongoing management.

·Free Trial: New users can get a $100 trial bonus when they sign up.

· Environmentally friendly operations: Operations are powered by solar energy, contributing to sustainable development.
Cons：
·Fees based on blockchain transaction costs may affect profitability.
·Due to the large number of platform members, customer service responses may be slow.

2. ECOS: Complete cloud mining solution
ECOS is a highly reliable and transparent cloud mining platform based in Armenia, boasting a growing user base of over 550,000 satisfied customers. The platform offers a range of customizable plans tailored to accommodate various budgets and financial goals, making it an ideal choice for both beginners and experienced miners. Users appreciate the flexibility to start mining with minimal investment, with options as low as $50, allowing easy access to cryptocurrency opportunities.

What sets ECOS apart is its commitment to user experience, featuring an intuitive interface and a dedicated mobile app that enables seamless monitoring of mining activities and earnings. Additionally, ECOS prioritizes security and compliance, ensuring that user funds are safely stored and operations are transparent. By leveraging an extensive suite of integrated tools, including wallets and exchanges, ECOS empowers users to effortlessly manage their digital assets and optimize their mining performance.

Pros：
·Flexible mining options: Start cloud mining Bitcoin with plans as low as $50.
·Integrated financial tools: Offers an app for easy tracking of mining progress.
· Active community engagement: Consistent updates and communication foster trust.
·Free demo available: Users can test the platform with a 0.3 TH output demo.
Cons：
·Limited to Bitcoin mining.
·High withdrawal fees during peak network times.
3. StormGain: A comprehensive platform
StormGain serves over five million users and is recognized for its robust infrastructure that caters to both beginners and seasoned investors in the cryptocurrency space. The platform offers a multitude of services, including cloud mining, cryptocurrency trading, and an integrated exchange, making it a one-stop solution for all your crypto needs.

What distinguishes StormGain is its user-centric design, which includes real-time mining statistics and rewards displayed directly in user wallets. This transparency enhances the overall user experience, allowing miners to track their progress effortlessly. Additionally, StormGain provides unique trading signals, helping users make informed decisions about market movements.

The platform is also known for its high-level security measures and commitment to user data protection, instilling confidence in millions of users globally. With flexible investment options and low barriers to entry, StormGain is an appealing choice for anyone looking to explore the world of cryptocurrency mining and investments.
Pros：
· Extensive service suite: Merges cloud mining with trading and exclusive signals in one platform.
· User-friendly interface: Designed for ease of use, making it suitable for all experience levels.
· Multilingual support: Provides customer support in various languages.
· Free cloud mining access: Lowers barriers for new miners, encouraging wider participation.
Cons：
·High trading volume required for significant returns.
·Variable withdrawal fees may apply based on transaction conditions.
4. Binance cloud mining: A reliable choice
Binance offers a reliable cloud mining service as part of its extensive ecosystem, making it an ideal choice for individuals seeking flexible short-term contracts. As one of the largest cryptocurrency exchanges in the world, Binance instills confidence in users with its strong reputation and proven track record in the crypto market.

The platform features flexible mining contracts that allow users to adapt their mining strategies according to their investment goals. With contracts that can be tailored to last from as short as 30 days to longer durations, Binance accommodates both novices looking to dip their toes in mining and experienced traders aiming to maximize their returns.

Pros：
·Trusted exchange backing: Leverages Binance’s reputation, assuring users of security.
·Flexible contract options: Users can select from various contract durations tailored to their investment strategies.
· Quick setup process: Rapid registration and access to mining contracts within minutes.
· Instant withdrawals: Allows users to quickly access funds without long wait times.
Cons：
·Limited to Bitcoin mining.
· Minimum requirements expressed in BTC, which may confuse new investors.
5. BitFuFu: Accessible and incentive-driven
BitFuFu is an increasingly popular cloud mining platform that effectively combines user-friendly mining processes with substantial incentives and a strong customer-focused approach. With a robust infrastructure supporting 29 mining facilities and serving over 321,000 users globally, BitFuFu is committed to making cryptocurrency mining accessible for everyone, from beginners to experienced miners.

The platform allows users to start mining Bitcoin with an investment as low as $20, significantly lowering the barrier to entry for new users. BitFuFu offers a variety of mining packages ranging from 60 to 360 days, allowing users to choose plans that fit their investment goals and risk tolerance. Additionally, new users can benefit from generous bonuses, sometimes up to $1,000, simply for signing up.
Pros：
· Low entry cost for beginners: Start mining with only $20, making it highly accessible.
· Generous bonus programs: New users receive sign-up bonuses and rewards for KYC completion.
· User-centric interface: Designed for simplicity, enabling effortless management of mining activities.
· Direct equipment purchase: Users can buy Bitmain rigs directly through the platform.
Cons：
·Service fees can accumulate, impacting overall profitability.
·Limited cryptocurrency options compared to larger platforms.
6. NiceHash: Optimization tools
NiceHash is widely celebrated for its advanced mining options and powerful profitability calculators, enabling users to maximize their earnings effortlessly. Established in 2014, NiceHash has positioned itself as a versatile cloud mining solution that caters to both novice and experienced miners alike.

The platform offers a unique marketplace where users can buy and sell hashing power, which allows for flexibility in mining different cryptocurrencies without the need for hardware management. This feature is particularly appealing for those who want to quickly adapt their strategies based on market conditions.

With a user-friendly interface, NiceHash simplifies the mining process, providing real-time data on earnings and mining performance. Furthermore, it frequently runs promotions and discounts, which incentivize users to optimize their mining strategies and increase their overall profitability.

Pros：
·Intuitive user interface: Easy navigation ensures a user-friendly experience for newcomers and veterans alike.
·Profitability calculators: Helps miners determine the most lucrative mining strategies.
·Consistent daily payouts: Users are rewarded regularly, enhancing trust and user satisfaction.
·Frequent promotions: The platform offers ongoing discounts, significantly improving overall profitability.
Cons：
·Initial setup may require some learning for new users.
·Promotional engagement can influence perceived benefits.
Conclusion：
In conclusion, there are many options for earning passive income through Bitcoin cloud mining in 2024. When it comes to the best platforms, NFTCOLO stands out for its excellent reliability and user-friendly design. Want to learn more? Visit the official website: https://nftcolo.com

*This article was paid for. Cryptonomist did not write the article or test the platform.

It is official: the government of Louisiana accepts payments in Bitcoin and cryptocurrencies. 

It was publicly announced on X by the State Treasurer, John Fleming. 

LOUISIANA STATE GOVERNMENT ACCEPTS FIRST CRYPTOCURRENCY PAYMENThttps://t.co/C9NqQbpEyo

Louisiana State Treasurer, John Fleming, M.D. announces an innovative transition with state government's plan to accept cryptocurrency as a valid form of payment. pic.twitter.com/b9B0OK7Al9

— John Fleming, MD Louisiana State Treasurer (@LATreasury) September 18, 2024

Payments in Bitcoin and stablecoin: the government of Louisiana welcomes them with open arms

In the official press release shared by Fleming, it is explicitly stated that the government of the State of Louisiana has accepted the first cryptocurrency payment.

The official announcement was made by Fleming himself, who spoke of an innovative transition thanks to the state government’s plan to accept criptovalute as valid forms of payment. This will allow the integration of digital currency into the public operations of Louisiana.

In essence, residents of Louisiana now have the possibility to pay state services directly with their non-custodial crypto wallets, and they can do so in BTC, both on the layer-1 of Bitcoin and via Lightning Network, and in USDC (USD Coin).

The first crypto payment has already been made to the State’s Department of Wildlife and Fisheries. 

To enable this, a service called Bead Pay is used, which converts the crypto into dollars before depositing them into government accounts. In this way, the citizen pays in cryptocurrencies, but the State receives dollars, as if the payment had been made with a credit or debit card. 

The idea is to promote the adoption of new technologies in the State’s infrastructure, on one hand, while on the other hand, it aims to protect the State itself from the value fluctuations of crypto. 

Bead Pay

Bead Pay is a company that facilitates the acceptance of cryptocurrencies specifically for governments and businesses, based in Louisiana.

Thanks to the automatic and immediate conversion of crypto payments into local currency, it eliminates the complexities of holding, converting, or understanding cryptocurrencies for those who still want to offer the possibility of paying in cryptocurrencies. 

Furthermore, in this way it ensures that the total amount is received net of the volatility of the market value of cryptocurrencies. 

Bead Pay in summary allows third parties to integrate cryptocurrency payments into their e-commerce payment platforms and point-of-sale without having to adapt to new collection methods. 

The integration of cryptocurrency payments in state agencies of Louisiana is precisely the result of a collaborative effort between the State and Bead Pay as a partner. 

The advantages

The official statement also mentions what should be the advantages of offering payments in cryptocurrency through a third-party partner like Bead Pay. 

First of all, the reduction in the number of possible fraudulent transactions, given that the partner is still subject to legal obligations regarding anti-money laundering (AML) and verification of the payer’s identity (KYC). 

Furthermore, as already mentioned, it will not oblige the State to manage or hold cryptocurrencies, thus avoiding having to comply with the volatility of their prices. 

Finally, it makes it possible for citizens to use any crypto wallet, including private non-custodial ones. 

The primacy of the Louisiana government in accepting Bitcoin and stablecoin

Louisiana is certainly not one of the richest and most technologically advanced states in the USA. 

Its GDP per capita is slightly below $70,000, more than the $51,000 of Mississippi, but much less than the $114,000 of the State of New York. 

Even Wisconsin, Rhode Island, and Alaska do better. 

Despite this, it seems to be the first State in the USA to accept payments in cryptocurrencies. 

In reality, however, it does not accept cryptocurrencies as payment for state services, but adds the payment option in crypto for its citizens. 

The real turning point will come when governments start accepting revenues directly in crypto, without going through automatic and immediate exchange services like Bead Pay. Probably from this point of view, they will start by accepting stablecoin, such as USDC, which are crypto versions of digital currencies, and then perhaps in the future also move on to accepting Bitcoin (BTC), and maybe even Ethereum (ETH).

The comments on the new initiative

John Fleming stated: 

“In the current digital era, government systems must evolve and embrace new technologies. By introducing cryptocurrencies as a payment option, we are not just innovating: we are offering our citizens flexibility and freedom in interacting with state services. Furthermore, this unique innovation protects our state from any volatility associated with cryptocurrency”.

The CEO of Bead Pay, Jay Sykes, added: 

“As one of the pioneers in the field of cryptocurrency transactions, our role is to ensure that these payments are not only efficient but also secure. We focus on removing the traditional barriers associated with cryptocurrencies, such as volatility and fraud risks, making it a reliable option for government transactions”.

The deputy of the State of Louisiana Mark Wright also expressed a favorable opinion, who has supported this cause throughout his career. 

Wright stated that he is proud to have drafted several bills related to digital assets, and to have chaired the State Treasurer’s task force in 2022.

He added: 

“I am excited to see Louisiana further expand its payment options under the leadership of Treasurer Fleming. I look forward to working with him and others to ensure that Louisiana continues to be a leader in the acceptance of digital payments”.

In recent days, the world of video games has been shaken by the news of the return of one of the most famous and controversial games: Flappy Bird is back! This time with an unprecedented GameFi twist. 

The decision to relaunch the famous mobile title in a blockchain version has sparked an unexpected and heated reaction. The creator of the game Dong Nguyen even returned to social media to openly criticize the initiative.

Flappy Bird is back! The Foundation defends itself

After an enormous success and a mixed public reaction, Flappy Bird was removed from digital stores in 2014. It seemed that the game’s story was destined to remain closed forever. However, a group of developers and enthusiasts organized in the following years to keep the memory of the game alive, forming the Flappy Bird Foundation. 

This organization, claiming to be the true spiritual and legal heirs of the game, recently announced the official relaunch of Flappy Bird as a GameFi title.

This move, however, was not positively received by everyone, and it sparked a heated online debate. Many long-time fans of the original game criticized the decision to tie the return of the title to GameFi mechanisms. The community argues, in fact, that this betrays the simple and pure essence of Flappy Bird.

The Flappy Bird Foundation, in response to these criticisms, has released an official statement. In the communiqué, they defend their choice, explaining the reasons behind the new business model.

For those who are not familiar with the term, GameFi (“gaming” + “finance”) is a new gaming model that combines blockchain technology with video games. This allows players to earn cryptocurrencies or other digital assets simply by playing.

These games often use “play-to-earn” mechanisms that reward players based on their achievements or the time spent in the game.

The decision to integrate Flappy Bird with the blockchain and the play-to-earn model has raised doubts about the appropriateness of transforming a game known for its simplicity into something so complex. The main criticisms revolve around the risk of commodifying the gaming experience. With the potential introduction of economic barriers, players might not be interested in participating in a financial ecosystem while playing.

The return of Dong Nguyen and his critique of GameFi

Dong Nguyen, the original creator of Flappy Bird, has lived away from the spotlight for years after the decision to remove the game from the app stores in 2014. 

But now it’s official: Flappy Bird is back!

The announcement of the relaunch of the game as a GameFi title pushed Nguyen to make an unexpected return to social media, where he openly expressed his opposition to the project.

Nguyen has harshly criticized the choice to transform Flappy Bird into a GameFi title, stating that the game was conceived as a simple experience, accessible to everyone and free from complications related to money or financial incentives. 

“Flappy Bird was a game for everyone, not an opportunity to make money,” 

he wrote in a tweet that immediately caught the attention of the gaming community.

This stance has further fueled the debate, with many siding with the original creator, while others have defended the Flappy Bird Foundation and their decision to innovate and adapt the game to new technological trends.

Despite the criticisms, the Flappy Bird Foundation seems determined to proceed with the relaunch of the game in a GameFi context, arguing that this will allow players to obtain tangible rewards for the time and skill invested in the game. 

In a recent statement, the organization stated that:

“the world of gaming is changing, and Flappy Bird must evolve to remain relevant. Our goal is to keep the essence of the original game alive, while offering players new opportunities.”

It remains to be seen if this move will manage to win back the hearts of the original fans or if the project will be destined to fail under the weight of the criticisms. 

One thing is certain: Flappy Bird returns in a completely different context from the one in which it was first launched. In an era dominated by blockchain and cryptocurrencies, even a simple and immediate title like Flappy Bird is not immune to the changes in the industry.

Conclusions

The return of Flappy Bird in the GameFi world represents an interesting experiment in the world of video games. However, the game has also raised important questions about the future direction of the industry. 

The Flappy Bird Foundation continues to defend its project. The criticisms from Dong Nguyen and the gaming community remind us that, sometimes, simplicity can be the key to success.

Ultimately, only time will tell if this new chapter in the history of Flappy Bird will be a success or a flop. One thing, however, is certain. The video game industry is in constant evolution and no title, not even the simplest one, can escape the changes that come with it.

Jeff Garzik, well-known Bitcoin Core developer, as well as collaborator of Satoshi Nakamoto, has announced that he has closed a round of funding to build the Hemi blockchain.

In total, 15 million dollars have been raised by Binance Labs and other investors to develop the network that aims to unite the Bitcoin world with that of Ethereum.

Hemi seeks to unlock the hidden potential of integrating these two ecosystems, bringing the security of Bitcoin within the EVM standard.

Its mission is to facilitate interoperability between the two chains, and unite their reciprocal liquidity by opening the doors to a new set of decentralized applications.

Let’s see all the details below.

Hemi blockchain challenges the laws of interoperability between Bitcoin and Ethereum

Jeff Garzik, one of the people closest to Satoshi Nakamoto and the early development of Bitcoin, has recently launched the revolutionary Hemi blockchain.

It is a modular network designed to bring the concepts of scaling, security and interoperability to a higher level compared to the cryptographic standard.

Hemi’s mission is to unify the Bitcoin world with that of Ethereum, making the two resources part of a single supernetwork.

Historically, it has always been challenging to establish communication between two worlds so distant from each other at the code level, except through centralized counterparts.

People probably thought gravity was crazy when that was invented. pic.twitter.com/qhp1NNJUA1

— Hemi Network (@hemi_xyz) August 22, 2024

After the recent development phase of the DeFi on Bitcoin, however, developers have begun to sense the strong potential of a shared framework.

Hemi tries to unlock the potential inherent in connecting the two largest blockchains in the world, valued at approximately 2 trillion dollars.

By merging Bitcoin and Ethereum around a single ecosystem, the aim is to unlock new potential in the development of still unexplored decentralized dapps.

Think about the security and the reserve value capacity that characterizes BTC with the smart contracts and the programmability of ETH.

At the moment Hemi is still in the testnet phase, while its launch in mainnet is expected by the end of the year.

Our incentivized testnet is rockin' and YOU can start earning rewards for your contributions!
– testnet activities earn points
– points help your standing
– win-win
Get started:https://t.co/XPL5w9nUZ8

— Hemi Network (@hemi_xyz) August 20, 2024

Regarding the launch of Hemi, Sam Kin, one of the main investors in the project, highlighted the potential of the new blockchain product:

“Hemi is transforming the way Bitcoin and Ethereum interact, and not simply providing a bridge between the two largest networks in the blockchain ecosystem, but a supernetwork that more elegantly marries the capabilities of both.”

The innovative features of Hemi: the security of Bitcoin within the EVM

Moving to a more technical level, let’s see how the fusion of Bitcoin with Ethereum occurs within the Hemi blockchain.

The main feature of the new chain is that it integrates a full Bitcoin node within an Ethereum Virtual Machine (EVM).

Hemi operates as an Ethereum Layer-2 protected by the Proof-of-Work (PoW) of Bitcoin from which it inherits security.

The miners of the project publish the network data on the Bitcoin blockchain. Once confirmed, they move the security level to a more accessible and compatible network on the programmability side.

On the consensus level the protocol integrates a Proof-of-Proof (PoP) based on a flexible and permissionless approach. The idea is to use the security of the orange network as a Bitcoin-security-as-a-Service model to be moved to other blockchain networks.

The result is that Hemi allows the creation of smart contracts that work with both Bitcoin and Ethereum, while maintaining full compatibility with dApp EVM.

Can you meld Bitcoin’s security with Ethereum’s flexibility?

Short answer: Yes! The Hemi Network is merging the security of Bitcoin with the flexibility of Ethereum through a trust-minimized approach.

Let’s break it down

1/10 pic.twitter.com/JHsacmjZaB

— Hemi Network (@hemi_xyz) September 11, 2024

Hemi also uses a dedicated framework called Hemi Bitcoin Kit (hBK), which unlocks direct access to the smart contract at the granular Bitcoin state.

In this way, native Bitcoin applications can reach sectors that are under-implemented in its DeFi such as staking, lending protocols, and MEV market.

For the connection cross-chain, Hemi’s channels provide a secure way to move resources between chains, greatly improving traditional bridge methods.

Other features include on-chain routing, time-lock, password protection, and gasless transfers.

Source: https://x.com/hemi_xyz/status/1827013282109997244/photo/1

Announcing the development of the promising cryptographic network, its founder Jeff Garzik reported the following in a recent interview:

“The excitement for what we are building is reflected in the quality and enthusiasm of our investors and ecosystem partners. They understand the uniqueness and value of Hemi’s approach to scaling and integrating the two main blockchain networks, adding to the phenomenal growth and energy in this particular area.”

Binance Labs and other VCs financially support the development of the blockchain

The development of Hemi’s blockchain and the challenge of interoperability between Bitcoin and Ethereum are entrusted to the funding of a series of Ventures funds.

Yesterday Binance Labs, Breyer Capital, and Big Brain Holdings announced that they had led a funding round of 15 million dollars.

The trio is widely known in the VC world precisely for their previous successful investments marked in their respective careers.

To give an idea, Binance Labs has pushed over 150 of the best blockchain projects since the branch of the exchange was created.

Big Brain Holding has accompanied the development of about 140 products, among which Monad, Solayer, SatLayer, MegaETH and others stand out.

Breyer Capital was instead one of the first investors in Facebook, Circle and Spotify, capable of sensing the potential of these billion-dollar companies. Among other things, the fund is a leader in web3 investments with Solana, The Graph, and Arweave.

The money will be used by Jeff Garzik and his team to push the scaling and security of the Hemi blockchain towards new horizons.

In addition to the main lead investors, there are also many other VCs who have been attracted by Hemi’s mission to unite the Bitcoin world with that of Ethereum. We find, in fact, the participation of names such as Crypto.Com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, and many others.

Source: https://x.com/TedBreyer/status/1836394240340832758/photo/1

To commemorate the great event, Alex Odagiu, director of investments at Binance Labs, spoke publicly to offer his support:

“We look forward to supporting Hemi Labs as they work on important infrastructure that connects Bitcoin and Ethereum in a modular and scalable way. Hemi’s approach aligns with our commitment to supporting projects focused on building practical and decentralized solutions with long-term potential”.

Cardano welcomes Kinka Gold (XNK) into its blockchain ecosystem, the new gold-backed token that acts as a catalyst for the Real-World Asset (RWA) market. Behind XNK, as the technology provider, is Emurgo, one of the founding entities of Cardano. 

Cardano and Kinka Gold (XNK): the launch of the new gold-backed token as a catalyst for the RWA market 

News from Cardano, ready to host a new entry: the new token Kinka Gold (XNK), backed by gold and supported by Emurgo.

XNK can serve as a catalyst for other real-world asset tokens (RWA), while also offering an alternative stablecoin to those pegged to fiat currencies.

Kinka's bullion-grade on-chain gold is coming to @Cardano!

We're excited to unveil our tactical, technical, and strategic partnership with @emurgo_io, one of Cardano's founding entities to deploy and integrate $XNK across the ecosystem.

Learn more https://t.co/Mytb6JB1fm pic.twitter.com/ga8zsFH4DG

— Kinka Gold (@kinka_gold) September 18, 2024

“Kinka’s on-chain gold, of bullion quality, is coming to @Cardano! We are excited to unveil our tactical, technical, and strategic partnership with @emurgo_io, one of the founding entities of Cardano, to distribute and integrate $XNK into the ecosystem. To learn more”

Kinka is a subsidiary of UNBANKED, a neofinance services company listed on the stock exchange in Japan that is opening up access to on-chain economies to the world. 

Each XNK token represents an ounce of premium Japanese gold that meets all the LBMA standards (London Bullion Market Association). The gold is intended for use on the Osaka Exchange and is securely stored in remote vaults for failures worldwide.

Behind the Kinka Gold project, there is the tactical, technical, and strategic support of Emurgo, one of the founding entities of Cardano, as a technology provider.

Cardano and Kinka’s gold-backed token as a catalyst for the RWA market

As anticipated, behind the usability of the new XNK on Cardano, there is the market of Real-World Asset (RWA). 

In practice, through XNK, the sector will be able to access an alternative stablecoin still backed by gold, suitable for use in jurisdictions where fiat-backed stablecoins do not fall within regulatory frameworks. 

Not only, Kinka Gold also wants to increase the liquidity and use cases of gold by integrating the yellow metal into the broader Cardano DeFi ecosystem, including use cases for loans, collateral, and payments.

In this regard, the director of UNBANKED, Chris Lane, commented: 

“Thanks to this partnership with Emurgo, the next generation of gold ownership will begin. The XNK token is not limited to owning gold, but uses it in completely new ways that help empower the modern digital economy. Cardano’s low transaction fees and the enormous support of its community create the perfect synergies to promote the on-chain movement.”

The tokenization of Kinka Gold on the Cardano blockchain will be executed on the Emurgo platform. 

The crypto update Leios

In these days, Charles Hoskinson has declared that the crypto update Leios will transform the Cardano blockchain, making it faster than Solana. 

In practice, the main objective of Leios is to increase the number of transactions that the network can process, making it more competitive. Specifically, Leios introduces a series of innovations that optimize the transaction validation process, thus reducing waiting times and increasing the capacity to handle large volumes of data. 

Not only that, the update also aims to improve the security and energy efficiency of the Cardano Blockchain. 

In this sense, Hoskinson sees the future of Cardano more optimistic, managing to perform better than Solana and even Ethereum.

At the time of writing, Cardano (ADA) is worth $0.34 and is in a 4% pump in the last 24 hours. The 11th crypto should see its market cap quintuple before it can surpass at least SOL, currently positioned in fifth place in the ranking. 

Singapore, Singapore, September 18th, 2024, Chainwire

MatrixPort, a leading digital asset financial services platform and exSat, a breakthrough Bitcoin scalability solution, have entered into a comprehensive strategic partnership. By leveraging their respective strengths, they aim to accelerate the growth and application of the Bitcoin ecosystem, marking the start of a new era in Bitcoin development.

MatrixPort, a global one-stop digital asset financial services platform, brings extensive industry experience, robust technology, and a large user base to offer secure, convenient, and efficient digital asset trading and wealth management services. exSat Network focuses on developing unique scalability solutions for Bitcoin. Through the unique On-Chain UTXO data index, 1 second instant transaction confirmation, and secure asset custody solutions, it provides the Bitcoin network with more powerful scalability, functionality and interoperability, enabling new Bitcoin application scenarios.

This powerful collaboration plays to the advantages of both parties and brings multiple benefits to the Bitcoin ecosystem. MatrixPort’s expertise and user base will support the rapid development of exSat, while exSat’s innovative technology will offer MatrixPort users more investment options and a superior experience. Together, they are committed to driving Bitcoin adoption and utility, revitalizing the Bitcoin ecosystem, and creating more value for users worldwide.

This strategic partnership will focus on the following key areas:

Unlocking Bitcoin Liquidity: Ushering in a New Era of BTCFi

Matrixport will provide nBTC on the exSat platform, a new Wrapped BTC version of the product that is 1:1 anchored with Bitcoin. They plan to provide 5,000-10,000 nBTC on the exSat mainnet to boost liquidity and support exSat’s PoW+PoS consensus mechanism.

The issuance of nBTC will become a bridge connecting Bitcoin and the exSat ecosystem, achieving seamless interoperability. Users can convert native BTC to nBTC via MatrixPort and utilize it on exSat for various BTCFi applications such as staking, lending, and trading.

The issuance of nBTC holds significant implications in a context where 94% of Bitcoin has already been mined:

Unlocking Bitcoin Liquidity: Bringing dormant Bitcoin assets into the DeFi space and injecting liquidity into the exSat platform.

Expanding Bitcoin application scenarios: Utilizing exSat as a bridge to open up broader application scenarios for Bitcoin.

Enhancing Bitcoin User Experience: Leveraging exSat’s efficiency, providing Bitcoin users with more convenient, fast, and cost-effective transaction and wealth management services, promoting the popularization and utility of Bitcoin.

Empowering Innovation and Expanding the exSat Mainnet Ecosystem

MatrixPort will focus on driving the vigorous development of innovative dApp applications and services on the exSat platform, co-creating a more open, diverse and prosperous Bitcoin ecosystem.

Key areas of focus include:

BTCFi On-Chain Applications: Supporting the development of nBTC staking, trading, and lending applications on the exSat chain, offering users more diverse financial services and investment options while enhancing on-chain asset liquidity.

Real World Assets (RWA): Facilitating the tokenization of real-world assets, such as renewable energy assets, on the exSat platform, combining Bitcoin digital assets with RWAs to unlock new liquidity and value.

Cross-Chain Interoperability: Connecting exSat with the BTC ecosystem, and promoting a wider distribution of value.

This strategic collaboration will offer ecosystem developers comprehensive support, including technical guidance, marketing, and more, helping turn their innovative ideas into reality and promoting the prosperity of the exSat ecosystem. Together, MatrixPort and exSat will create more value for Bitcoin ecosystem participants, realizing the preservation and appreciation of digital assets, and ensuring sustainable, decentralized, and secure growth for Bitcoin.

Building a Secure Bitcoin Ecosystem to Protect User Assets

MatrixPort and exSat recognize that security is the cornerstone of Bitcoin ecosystem development. They will collaborate strategically to build an unbreakable on-chain security defence, safeguarding user assets.

The partnership will integrate MatrixPort’s extensive security experience and exSat’s leading blockchain technology to enhance security in multiple areas:

Multi-signature Technology Application: The two parties will jointly explore and apply more decentralized multi-signature technology to provide users with safer asset management solutions and ensure the safety of user assets.

Security Specification Formulation: The two parties will jointly formulate and promote BTC asset security specifications and risk control systems, improve the security awareness and prevention capabilities of the entire ecosystem, and jointly maintain the security of users’ assets.

Security Monitoring Cooperation: exSat will use Matrixport’s rich security experience and resources to conduct comprehensive security risk monitoring of BTC assets issued on the exSat platform, identify potential risks and control risks in time, and ensure that the platform’s security meets the highest industry standards.

MatrixPort and exSat firmly believe that a secure and reliable Bitcoin ecosystem is essential for users to participate confidently and enjoy the value and opportunities brought by Bitcoin. Together, they will continuously improve security measures, safeguard user assets, and promote the healthy growth of the Bitcoin ecosystem.

About exSat

exSat is dedicated to addressing the scalability and interoperability challenges of Bitcoin. By implementing a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), exSat aims to enhance BTC’s data consensus, scalability, security, and interoperability within the ecosystem. For more information, visit exsat.network and join exSat on X.

Contact

CMO
Tristan Dickinson
exSat
tristan.dickinson@exsat.org

SPONSORED POST*

Due to the growth in the digital era, staking in cryptocurrency has grown among the most popular modes of passive income. Staking is the process where an investor may lock his crypto assets for some rewards in return. This article will compare the five most popular staking platforms as mentioned below. 

1.StakingBonus

2.Kraken 

3.Binance 

4.Coinbase

5.Nexo 

StakingBonus: The Best Staking Platform for Maximum Earnings

The  friendly user interface, a great variety of staking options, and clear reward rates keep the stakingBonus.com at the top. Key Features can be mentioned as follows.

Variety of stakings:  Being a part of the platform, one will be able to stake BTC, LTC, ETH, BCH, DOGE, XRP, TRON, USDT.

Competitive Rewards: StakingBonus offers among the best staking rewards in the industry. By locking in your crypto assets, you’re going to make steady, high-return gains.

Low Minimum Requirements: You do not need a great load of cryptocurrency to start the staking process. StakingBonus has very low minimum staking requirements, which thus makes it accessible for smaller investors.

Compounding Rewards: StakingBonus allows users the ability to compound, or reinvest, their rewards for better gains over a longer amount of time.

Real-time Earnings Tracking: You will have the ability to track your staking in real time and see exactly how much you are earning at any given moment with its real-time tracking.

Staking Plans on StakingBonus

Bitcoin (BTC): By staking Bitcoin on StakingBonus, you will find relatively stable rewards over time for those who like to make long-term investments.

Litecoin (LTC): Litecoin allows for faster transaction processing; thus, staking this cryptocurrency rewards moderately but with close to zero fees. 

Ethereum (ETH): Even though Ethereum recently migrated to Proof of Stake, the staking of ETH via a platform like StakingBonus is one of the great ways to contribute to the network and receive competitive rewards. 

Bitcoin Cash (BCH): It’s similar to Bitcoin but focused on scalability, with lower transaction fees; thus, BCH is another excellent option to stake.

Dogecoin: This was initially a meme coin that turned into a serious player in crypto markets; staking DOGE is fun and very lucrative. 

XRP: This is known for its fast efficient cross-border settlements, and staking XRP ensures consistent and steady rewards. 

TRON: This is a blockchain that focuses on content creators, so staking TRX facilitates some of the highest staking rewards available for content creators and investors alike.

Tether (USDT): This is a stablecoin tied to the U.S. dollar. Staking USDT gives returns with low risk, which is suitable for an investor looking for stability in return earnings.

How to Sign Up and Start Staking

Create an Account: Go to StakingBonus.com. Find the ‘Sign-Up‘ icon and click on it. Fill in your email address and create your password.

Verify Your Account: Perform the KYC process by uploading appropriate documents to verify your identity.

Deposit funds: Transfer your cryptocurrency to your StakingBonus wallet. You can deposit BTC, ETH, USDT, and other supported assets.

Select a staking plan: Choose your preferred staking plan according to the cryptocurrency that you will stake, reviewing rewards and terms.

Begin staking: After confirmation of your deposit, select the staking duration and click Start Staking. You will start earning rewards in an instant.

Kraken: Best for Low Fees and Beginner-Friendly Interface

Kraken is among the most reputed cryptocurrency exchanges that provide staking services for a wide variety of assets. Kraken is good for beginners in staking, mainly because it charges very small fees and has an interface which is easy to use.

Key Features of Kraken

Instant Staking Rewards: Kraken provides instant rewards-the users begin to earn immediately after staking their assets.

A variety of staking plans: Kraken’s supported assets for staking are ETH, DOT, and KSM, but even fiat-denominated assets such as EUR and USD.

Low fees: Kraken’s fees are affordable compared with many leading competitors, hence affordable both for fresh investors and more established players in the market.

Binance: Best for Flexibility and Large Asset Selection

As the world’s largest cryptocurrency exchange, Binance provides an extensive range of options to stake with variable staking periods. There is a good balance between rewards and liquidity at Binance.

Key Features of Binance:

Flexible and Locked Staking: Binance allows flexible staking in which one can withdraw funds at any time. 

Large asset selection: That is because Binance allows staking of over 100 different cryptocurrencies, making it one of the most versatile staking platforms around. 

High liquidity: Given its enormous user base, Binance is able to bring in high liquidity, allowing you to sell and buy any asset you stake with ease.

Coinbase: Best for Security and Regulated Staking

Coinbase is a popularly known platform in the United States, with great emphasis on security and regulatory compliance. Considering trusted and secure ground for staking, Coinbase will be a must for users.

Key Features of Coinbase

User-Friendly: It’s pretty simple to stake on the platform, considering its user-friendly interface that makes this process seamless for newbies.

Limited Asset Support: Coinbase only supports staking on a handful of assets, including ETH, ADA, and ATOM.

Nexo: Best for Earning Interest on Staked Crypto

Nexo is unique among other platforms with interest-bearing accounts for crypto and fiat currencies. You stake the assets and get interest over them, hence giving a unique way to grow wealth.

Key Features of Nexo

Crypto and Fiat Interest: Nexo provides the ability to earn interest on cryptocurrencies, including but not limited to BTC, and fiat money, including but not limited to EUR and USD.

Security of Platform: Nexo has insurance coverage for custodial assets of up to $375 million, placing its security among the best. 

ConclusionAmong all of them, the StakingBonus is reputedly number one as the best staking platform for maximizing earnings and diversified staking options. Offering transparent rewards with low minimum amounts to stake and an extremely easy account sign-up procedure, StakingBonus is your go-to service for crypto staking rewards. While Kraken is great for beginners, Binance offers flexibility, Coinbase emphasizes security, and Nexo provides interest-earning features, StakingBonus has combined all the key features an investor could want from staking.

*This article was paid for. Cryptonomist did not write the article or test the platform.

Yesterday, after the Fed cut interest rates, the price of Bitcoin reacted timidly to the news. After that, with the opening of the Asian markets, it rose. 

Fed: the interest rate cut and the impact on the price of Bitcoin

Yesterday, the Fed cut interest rates by 50 basis points (the minimum cut is 25), just as the markets expected. 

It had started to increase them in March 2022, due to the strong rise in inflation, and had increased them until July of last year, when they reached the highest levels of the last 20 years. 

For more than a year, he has left them unchanged at very high levels, although many in July of this year were already expecting a first cut of 25 basis points. In fact, yesterday at the press conference, the Fed chairman, Jerome Powell, admitted that if they had known what would happen to the labor market in August, they probably would have cut them already in July, by 25 points. 

The markets had in fact bet on a 50-point cut yesterday, instead of 25, and this bet paid off. However, after an initial moment of euphoria for the accurate prediction, there was a moment of downturn due to the scenario described by the Fed in the document that accompanied the news of the cut. 

In fact, the markets were expecting about ten cuts from now until the end of 2025, but that document foresees just over half of that. So if at first the markets had reacted well, in a second moment the euphoria had partially dissipated. 

The press conference of Powell

Half an hour later, the President of the Fed started to speak. 

Powell reassured by saying that the scenario of cuts described in the document was not to be considered a forecast, but only an estimate based on the current situation and information.

In other words, he indicated that other more optimistic scenarios cannot be ruled out, in case the situation evolves further and the new data available in the coming months puts the Fed in a position to cut rates more than anticipated yesterday. 

Moreover, Powell also ruled out that there are signs of a possible recession in the USA, and he also dampened many negative hypotheses regarding the current US labor market. 

The picture described by Powell was in all respects good, with only a few small exceptions. 

However, the American markets have not been easily convinced by his words, remaining cautious for now. 

The rise of Bitcoin after the Fed’s interest rate cut

Before the publication of the news about the rate cut, the price of BTC was just below $60,000. 

As soon as the news was published, it rose to 61,000$, but after a careful reading of the document with future prospects, the price returned to just above 60,000$. 

The US stock markets yesterday ended up closing the session in slightly negative territory, so much so that the price of Bitcoin had fallen back below $60,000 at that time.

During the night, however, at the reopening of the Asian stock exchanges, the markets reacted positively. 

Today even the Hang Seng index of the Hong Kong stock exchange is showing an excellent +2% daily, as well as the Japanese Nikkei. 

This rise has also dragged with it the price of Bitcoin, which has even risen above $62,000.

The rise of Asian stock markets probably combined with a sort of delayed reaction to Powell’s words yesterday, given that although they were clearly positive overall, they did not convince the markets immediately. 

The reaction of today

To tell the truth, for days the hypothesis has been circulating that September 18 was not the right day for a reaction in the price of Bitcoin, but today, that is, the 19th. 

The markets indeed follow cycles that are due both to their inevitable seasonality and to human behavior, which in many cases is influenced, for example, by the climate. 

In fact, September is often a difficult month, because for reasons related to market seasonality it tends to be a month with low liquidity in the markets. 

Instead, on the contrary, October often turns out to be a positive month, so much so that it is sometimes nicknamed “uptober”. 

The markets know these dynamics very well, as they have been ongoing for decades, and always try to anticipate them. So it is not at all strange that with the approach of October, the buying pressure, especially on risk-on assets, tends to rise a bit. 

Furthermore, the markets also know very well that in all three previous cases after the presidential elections in the USA, the price of Bitcoin entered a bullrun lasting about 12 months, also thanks to the halving that always occurred in the same years as the elections (2012, 2016, and 2020). 

Given that this year there was also a halving, and since the elections in the USA will be held on November 5th, many are convinced that history could repeat itself. There are no certainties, of course, but the probabilities seem good, at least in theory. 

The restaurant in New York, FlyFish Club, has agreed to pay a fine of $750,000 to settle with the SEC and its accusations regarding the sale of NFT. For the Securities and Exchange Commission of the USA, the NFTs were sold following an unregistered offering of crypto-securities. 

New York: the restaurant FlyFish Club and the 750,000$ fine from the SEC for the sale of its NFTs

Last Monday, the Securities and Exchange Commission of the USA had accused the New York restaurant, FlyFish Club, of conducting an unregistered offering of crypto-securities in the form of NFTs.

In practice, it seems that through the sale of FlyFish NFT, the company raised about 14.8 million dollars from investors, to finance the construction and launch of a private restaurant for members.  

Specifically, the sale of the 1600 FlyFish NFT was carried out between August 2021 and May 2022. 

The ordinance highlighted that during this period, the Club promoted NFTs as investments and led investors to expect profits in return. In practice, for the SEC, FlyFish told investors that they could potentially make a profit if the club succeeded.

On one hand, the owners of the FlyFish NFT could have then resold them on the secondary market at higher prices, on the other hand, rented them to others interested in accessing the club as a “passive income strategy”.

With this marketing move, the SEC emphasizes that 42% of investors purchased more than one NFT in the offering, even though only one NFT was needed to become a member of the club. 

New York: the SEC and the fine to the restaurant for selling its FlyFish NFT 

After the accusation, without admitting or denying the SEC’s findings, FlyFish agreed to cease operations and pay the fine of $750,000. 

Not only that, the restaurant company has also agreed to destroy all Flyfish NFTs it has under its control in the next 10 days and to not accept future royalties from NFT sales. 

But the issue of the SEC and NFTs does not seem to end here. Last August, the one to be notified of being under investigation by the SEC was the NFT marketplace of OpenSea.

Even if not explicitly stated, it seems that the issue also appears to be related here to the possible accusations of offering unregistered security to the public. 

NFTs become “unregistered security” only if they are sold with the promise of making profits for those who buy them, derived solely from the activity of those who sell them. 

In any case, the co-founder and CEO of OpenSea, Devin Finzer, said he was shocked by the accusations made by the SEC against creators and artists. Not only that, just as it happens with crypto companies, also for NFTs, Finzer says he is ready to react and fight. 

The artists sue the SEC

While the SEC fires accusations in the NFT sector, as it has always done in the crypto sector, last July two artists sued it. 

In practice, Brian Frye e Jonathan Mann have accused the SEC for the confusion that exists regarding NFTs. In fact, the two artists have asked for clarifications on the laws about securities and Non-Fungible Tokens.

Specifically, their lawyers asked if crypto artists are required to “register” their NFT art before selling it to the public. Another question then concerns the publication of information on the risks of purchasing their art. 

Not only, the lawyers then made a comparison between the sale of NFT Art on the secondary market and Taylor Swift concert tickets, which are often sold on the secondary market. 

In this sense, just like Taylor Swift sells tickets on the secondary market and releases statements to promote her events, the two artists should also be free to do the same with their NFT. 

Recently, BNB Chain introduced the transfer of stablecoin without gas fee, a strategic move aimed at improving cross-chain liquidity and increasing the functionality of the network.

This change not only represents a significant improvement in terms of efficiency for users, but it also has profound implications for the overall infrastructure of the BNB Chain, making it even more competitive and attractive in the blockchain landscape. Let’s examine in detail how this new system works, what advantages it offers, and how it could impact the cryptocurrency ecosystem.

The initiative of transferring stablecoins without gas fees on BNB Chain

The stablecoin are cryptocurrencies designed to maintain a stable value, usually pegged to an asset like the US dollar or the euro. This makes them attractive to those looking to avoid the typical volatility of cryptocurrencies like Bitcoin and Ethereum. Some popular examples of stablecoin include USDT (Tether), USDC (USD Coin), and DAI.

Their importance lies in the ability to act as a bridge between the world of cryptocurrencies and traditional finance. Stablecoins are used to carry out transactions, access DeFi (decentralized finance) platforms, transfer funds quickly and at low cost, and serve as a store of value in a volatile market.

The concept of trasferimento di stablecoin senza gas is revolutionary. Normally, when transferring criptovalute or tokens on a blockchain, it is necessary to pay a fee known as “gas fee”.

This commission represents the cost for processing the transaction on the network and can vary significantly depending on the congestion of the network itself.

With the new update of BNB Chain, users will be able to transfer stablecoins without having to pay any gas fees. This move has been made possible through collaboration with various centralized exchanges (CEX) and has the main objective of improving cross-chain liquidity.

One of the key aspects of this initiative is the partnership between BNB Chain and a series of high-profile centralized exchanges. 

These exchange facilitate the transfer of stablecoin without fees for users, offering a smoother and more convenient experience.

The collaboration between BNB Chain and centralized exchanges also improves interoperability between different blockchains, an issue that has hindered the growth of cross-chain liquidity. Thanks to these new partnerships, users will be able to transfer stablecoins between different networks without having to worry about high costs or compatibility issues between the blockchains.

Advantages for cross-chain liquidity

The improvement of cross-chain liquidity is one of the primary goals of this initiative. In the past, moving stablecoins between different networks was an expensive and often complicated process. 

However, with the new gasless transfer model, users will be able to move their assets more efficiently and smoothly, thus improving the overall liquidity of stablecoins across different platforms.

This change could lead to greater adoption of stablecoin and an increase in their utility within the crypto ecosystem. 

Furthermore, the ease with which stablecoin can be transferred across different networks will make it easier for users to access trading and arbitrage opportunities, which in turn could stimulate the transaction volume on BNB Chain and other blockchains.

In addition to improving cross-chain liquidity, the gas-free initiative also aims to strengthen the stablecoin infrastructure on the BNB Chain. Thanks to this new feature, the network will be able to handle a larger volume of stablecoin transactions, making the ecosystem more robust and suitable for decentralized applications (dApp) and DeFi platforms.

The increase in liquidity and the reduction of costs for users could attract new developers and projects to the BNB Chain, further strengthening its position as one of the leading blockchains in the world of cryptocurrencies.

Long-term impact on the cryptocurrency market

In the long term, the transfer of stablecoin senza gas on BNB Chain could have significant implications for the entire cryptocurrency market. By reducing transaction costs, the barriers to entry for new users and investors are lowered, making stablecoin even more accessible and usable.

Furthermore, this move could put pressure on other blockchains to introduce similar solutions. If the gasless transfer model proves to be effective and popular among users, we might see other networks adopting similar strategies to maintain competitiveness in the market.

The launch of gasless stablecoin transfer on the BNB Chain represents a significant step towards a more efficient and accessible blockchain ecosystem. With the collaboration with centralized exchanges and the focus on cross-chain liquidity, the network is positioning itself as a leader in the integration of stablecoin and the reduction of transaction costs.

This innovation could not only increase the adoption of the BNB Chain, but also push the entire cryptocurrency market towards greater interoperability and accessibility, making stablecoins an even more powerful tool within decentralized finance.

SPONSORED POST*

Ethereum and Bitcoin were both poised for big gains in Q4, but all those bullish predictions faded into oblivion when the ETH/BTC chart hit a 2-year low. Amidst this sentiment, investors are preferring low-cap ICOs like Rollblock ($RBLK) that show greater potential. 

Ethereum Looks Bearish on ETH/BTC Chart 

Ethereum has been on a downtrend since early August as recession fears hit the US market. Over the past month, Ethereum’s price has fallen 13.37%, hinting at strong bearish dominance. At press time, Ethereum was trading at $2,307.55 with Ethereum’s community sentiment 80% bearish. 

Due to increased selling pressure, Ethereum is trading below its short-term and long-term EMAs. Since Ethereum has also fallen to a 2-year low on the ETH/BTC chart, Ethereum’s price is unlikely to make a recovery any time soon. 

Bitcoin (BTC) Remains Stable Ahead of Federal Rate Cuts

Bitcoin’s price has remained relatively flat over the past few weeks, with analysts projecting substantial declines after the upcoming Federal Open Market Committee meeting. If officials announce the first interest rate cut in four years, Bitcoin’s price could plunge even deeper into bearish territory as traders become cautious about their investments. For now, Bitcoin is trading a little over $59,732 after an intra-day surge of 2.49%. 

Bitcoin and the broader crypto market are experiencing an election push as well since Republican candidate Donald Trump showed commitment towards making America the first crypto country. As a result, Bitcoin is gaining bullish momentum on the BTC/USD daily chart by trading above the 50-day and 200-day EMAs. If investors regain confidence, Bitcoin could climb to the $66,494 resistance in upcoming months. 

Rollblock’s ($RBLK) Low-Cap Gem Poised for Biggest Gains in Q4

While top cryptos like Ethereum and Bitcoin struggle to make significant price movements, Rollblock’s new low-cap gem is emerging as the hottest DeFi altcoin of the year. Rollblock’s GambleFi protocol doesn’t only offer an online casino, but it has a native utility token with deflationary tokenomics that is poised for 800% gains before the end of Rollblock’s ongoing ICO. 

Rollblock’s casino currently hosts more than 7000 AI-powered titles such as slots, roulette, blackjack, and new web3 games. Since the platform is already licensed and regulated by Solid Proof and Gaming Curacao, Rollblock investors don’t have to wait for the token’s official launch to start making gains. Even in presale, Rollblock’s casino has managed to raise over $3.5 million in record time, making it one of the fastest-growing iGambling platforms the market has ever seen. 

Since Rollblock is committed to creating a community of like-minded traders and gamblers, the platform is removing barriers to entry with no KYC verifications required on signup. This allows new traders to sign up by only connecting their wallets and depositing a crypto – no additional information is required. 

By investing in Rollblock during its presale, traders become part of a VIP group entitled to exclusive, tiered bonuses based on their $RBLK holdings. If traders become long-term holders and liquidity providers in the Rollblock ecosystem, they also receive weekly staking rewards with up to 30% APY. 

With this opportunity to receive a weekly passive income, savvy traders are rushing to get their hands on Rollblock’s native $RBLK token before the price skyrockets on launch day. For now, Rollblock’s presale stage six is nearly 70% sold out, with tokens selling at a low price of $0.026 each. 

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://rollblockpresale.io/

Socials: https://linktr.ee/rollblockcasino 

*This article was paid for. Cryptonomist did not write the article or test the platform.