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Polygon To Build A Decentralized Version Of Gaming Platform Steam

Albert Brown
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Polygon To Build A Decentralized Version Of Gaming Platform Steam

 

Polygon partners with GameSwift to bring the gaming world to the blockchain.


 

At the onset of 2020, gaming took a whole new dimension. Web3 gaming projects started coming up. Gaming went blockchain. Now, Polygon is trying a hand in the gaming world in partnership with GameSwift.

 

Polygon has been on a path of exponential growth of late. Besides the current deal with GameSwift, the network has launched other gaming-related platforms like Intella X. The network’s entrance into the gaming world is a clear attempt to create a gaming platform similar to Steam, which is a platform for creating, playing, and holding discussions about digital games. It currently hosts close to 30,000 games and boasts a 100 million strong fanbase.

Taking Gaming From Web2 To Web3

The partnership between Polygon (formerly MATIC) and GameSwift (formerly StarTerra) is aimed at introducing a mechanism to advance web2 games into the web3 sphere. Web3 gaming systems are the current buzz in the gaming world and are attracting a lot of attention both from old and new gamers who want to experience the advanced web3 gaming environment.

GameSwift aims to capitalize on its partnership with Polygon to come up with web3 gaming solutions by using Polygon’s supernets to create a new chain for that purpose.

What Polygon Brings To The Gaming World

The debut of Polygon in the gaming world has introduced the capabilities of the Polygon Edge technology that assures higher throughput and very low transaction fees for users. Speaking about the new development, GameSwift CEO Wojciech Gruszka said,

“Choosing Polygon for GameSwift also means low transaction costs, ease of implementation compared to other available technologies, and access to the disruptive technological solutions offered by Polygon.”

Polygon is also funding the development of new games in partnership with GameSwift. The network has already pledged a financial grant for that purpose. With the partnership, the GameSwift ecosystem will have added features like the GameSwift portal, studios, ID, Analytics, Extension, SDK, Launcher, and a Bridge to other networks.

U.S. Court “Partially” Dismisses Class Action Against Nexo Over Its “Wrongful” Suspension of Ripple (XRP) 

Mark Brennan
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U.S. Court “Partially” Dismisses Class Action Against Nexo Over Its “Wrongful” Suspension of Ripple (XRP) 

 

Despite partially dismissing the class action, the court ruled that Nexo must face claims of wrongfully suspending XRP support on its platform without duly informing users.



U.S. District Judge Beth Labson Freeman recently dismissed a class action filed against crypto lending platform Nexo Capital by a Ripple (XRP) holder. Despite dismissing the lawsuit, Judge Freeman ruled that Nexo must face other claims in a fresh suit for wrongfully halting support for XRP without duly informing users. 

According to a recent report by legal news service Law360, Judge Freeman struck out the suit for now because Junhan Jeong, the plaintiff, failed to show a class action waiver, as contained in Nexo’s terms and conditions, should not apply. 

Judge Freeman said in the ruling that Jeong did not adequately show that Nexo’s provision was ambiguously stated to understand. 

Plaintiff Given Another Chance to Amend His Claims

However, the California District Judge was generous enough to give the plaintiff leave to amend his claims, Law360 added. 

Commenting on the development, attorney Ted Normand of Roche Freedman LLP, Jeong’s legal representative, said: 

“We’re happy the court agreed with us on the merits, and we look forward to showing that the case should proceed as a class action.”

The California District Judge refused to completely throw out Jeong’s claim under California’s Unfair Competition law, Law360 stated. 

Details of the Lawsuit

Notably, Jeong filed a lawsuit against Nexo in April 2021. Plaintiff claimed that the cryptocurrency lending platform’s suspension of XRP caused its customers damage worth $5 million. 

The plaintiff alleged that Nexo halting support for XRP without any prior notice is a breach of its contract. He added that the crypto lending platform also went as far as selling the Ripple coins Nexo customers used as collateral and kept the profit for itself. 

Law360 adds:

“In keeping Jeong’s breach of contract claim, Judge Freeman said Monday that Jeong added allegations in his latest complaint indicating Nexo acted in bad faith regarding the suspension, including by offering to sell plaintiff’s collateral back to him after purporting to effect the suspension because of the regulatory uncertainty surrounding XRP.”

 

An Effect of Ripple vs. SEC Lawsuit

It is worth noting that the case is part of the charges filed against Ripple by the Securities and Exchange Commission (SEC). Recall that the SEC charged Ripple in December 2020 for offering unregistered securities offering in the United States via its 2013 Initial Coin Offering (ICO). 

Following the charges, Nexo immediately halted support for XRP without considering users who may have provided the cryptocurrency as collateral. 

Cardano Founder Takes A Jibe At Vitalik Buterin, Responds To 5-Year-Old Tweet From Ethereum Founder

Mark Brennan
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Cardano Founder Takes A Jibe At Vitalik Buterin, Responds To 5-Year-Old Tweet From Ethereum Founder

 

Hoskinson takes a jibe at Buterin.



Cardano’s Charles Hoskinson caused quite a stir on Twitter yesterday by responding to a 5-year-old tweet from Ethereum founder Vitalik Buterin with a GIF showing a puzzled look.

Notably, in the initial tweets, dated June 4, 2017, Buterin asserts that Ethereum would have migrated to Proof-of-Stake in 5 years and that the Ethereum Casper Protocol could withstand infrequent 51% node attacks, explaining that the network would burn the holdings of attackers instead of capping off the stakes on a single exchange to 15%.

While it is unclear what exactly Hoskinson is poking a hole in, there are two plausible answers. The first is that Hoskinson may be pointing at the fact that it has been more than five years, and Ethereum is still yet to migrate to Proof-of-Stake. The second is that he may be raising concerns about Ethereum’s decentralization.

At the moment, some Cardano faithful have rallied under the tweet to have a good laugh. Others have noted that the Tweet seems uncharacteristic of the Cardano founder, while others remain perplexed at what the Input Output Global chief is pointing at.

It is worth noting that both crypto founders have a rocky past. Hoskinson, among the original eight founders of Ethereum, left the project only a few months after, following a reported disagreement on the direction of the network. Notably, both founders are known to often take digs at each other.

Moreover, both projects, Cardano and Ethereum, are programmable blockchains in competition with one another, with Cardano sometimes dubbed an “Ethereum killer.” Notably, both are on the cusp of significant milestones in their roadmap. For example, Ethereum is finally about to migrate to PoS, while Cardano is about to enter into the Basho phase with the Vasil hard fork.

It is worth noting that both networks expect to achieve both milestones just weeks from now, with a tentative date of September 15 set for the Ethereum Merge that will see it migrate to PoS.

At the time of writing, Ethereum remains the second largest cryptocurrency by market cap, with $200 billion, while Cardano remains 8th with $15.5 billion.

111 Million Shiba Inu Burnt By Mysterious Wallet, 213 Million In 24 Hours As Burn Rate Spikes 99%

Zabi
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111 Million Shiba Inu Burnt By Mysterious Wallet, 213 Million In 24 Hours As Burn Rate Spikes 99%

Every day millions of Shiba Inu burns continue.



Over 213.06 Million Shiba Inu (SHIB) were burnt by the Shiba Inu Community within the past 24 hours. The burn rate for the Shiba Inu token accelerates as one of the mysterious wallets has incinerated 111.63M SHIB in two separate transactions.

As per a recent tweet from Shibaburn.com, the Shiba Inu Community has burned a whopping total of 213,067,021 (213.06M) SHIB tokens in 14 separate transactions in the past 24 hours.

The burn rate for the most popular canine-themed cryptocurrency, Shiba Inu, spiked over 99% as one of the mysterious wallets sent a total of 111,635,927 (111.63M) to the “inferno” addresses in two separate transactions.

SHIB Burn Rate 1
SHIB Burn Rate 1

According to our search, Etherscan data shows that in the first transaction, the mysterious wallet incinerated 61,708,497 (61.70M) SHIB. After a few hours, the same wallet performed a second transaction and took out 49,927,430 (49.92M) SHIB from circulation forever, Etherscan.io reports.

SHIB Burn
SHIB Burn

At press time, Shiba Inu is trading at the price of $0.00001319, up 1.65% over the last day, with a 24-hour trading volume of $404,761,025 ($404.76M).

Terra LUNA Classic Surge 14%, UST Rise 30%– What’s Going On?

Albert Brown
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Terra LUNA Classic Surge 14%, UST Rise 30%– What’s Going On?

 

Terra coins LUNC and UST that have been deemed as failed coins are now pumping hard.



Tuesday was a good day for Terra’s “failed coins” LUNC (Luna Classic) and UST (Stablecoin). The two coins seem to have achieved a significant price jump in the last 24 hours. According to Coinmarketcap, LUNC has pumped by over 13%, while UST has spiked by over 31%. That’s a curious case for two coins that most crypto community thinks of as failed.

At press time, LUNC is trading at around $0.0001, while UST is going for $0.03. The two coins crashed hardback in May when UST de-pegged from the USD, sending it way below the mark. The event spilled over to the LUNC (then LUNA) market, sending the crypto’s price from over $100 to nearly zero. Terra has since launched a new chain dubbed Terra 2.0, with the new LUNA token now in existence as the de facto native token.

It’s Unusual

Interestingly, the exact cause of the spike of the two coins is yet to be established. Some people attribute it to the recent interview where Do Kwon blamed himself for the collapse of the Terra ecosystem.

He said,

“I and only I am responsible for any weaknesses that were presented to a short seller in order for them to begin to make a profit.”

His utterances followed claims and speculations that a mole might be operating within the higher ranks of Terra.

Can UST Re-peg?

There are currently a lot of speculations on whether UST is capable of rising up to re-peg to the USD level ever again. From a critical standpoint, this would be a hard press for the presumed stablecoin, given its current price mark.

At one time back in July, UST spiked by over 470%, reviving some hope in investors that the stablecoin might reclaim its USD peg sometime in the future.

Some people have claimed that Terra’s coins may be scam coins, going by the recent price crashes and investor losses incurred. Still, new LUNA and old LUNC have been listed on various crypto exchanges worldwide.

Current statistics reveal that OKX handles most UST transactions. Kraken comes first for LUNC trading. Notably, the LUNC community is more active compared to the Luna 2.0 community.

Binance Adds Ripple (XRP) To Its Learn And Earn Program

Albert Brown
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Binance Adds Ripple (XRP) To Its Learn And Earn Program

 

Binance Learn and Earn program now includes a course on Ripple’s XRP and XRP Ledger.



Ripple has scored another win with Binance. The exchange has announced that it will include a course about XRPL in its popular learn and earn program. The program is meant to help exchange users familiarize themselves with the workings of various crypto networks in the industry and help them make proper decisions when selecting tokens to invest in.

The current round of the learn and earn program was launched on August 22 and is expected to run up to August 30th. 

 

 

Users must meet certain criteria to participate in the courses and quizzes program about the XRPL Ledger. They must complete a KYC verification process first; after that, users can start to read articles, watch videos, and complete quizzes to receive free crypto.

Just like in every promotional program, there are rules to be adhered to in the Binance learn and earn with regard to the XRPL course. Users who try registering bulk accounts and sub-accounts to participate in the program will be disqualified. The rewards will be served on a first-come, first serve basis. There’ll be a cap on the number of reward tokens allocated to each region/country. Participation will end when all rewards are distributed. The rewards won will be distributed to the users within 48 hours of their participation.

What It Means For Ripple And XRP

Including XRPL in the Binance learn and earn program is a huge step toward boosting the popularity and acceptance of XRP, enabling newcomers particularly to learn about XRP, a token that has recently faced legal backlash. The fact that one of the largest exchanges is still dealing with XRP is a strong backing against the SEC’s claims that XRP should be classified as a security instead of a cryptocurrency.

Tranglo Opens A New Payment Corridor In United Arab Emirates Based On Ripple

Lele Jima
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Tranglo Opens A New Payment Corridor In United Arab Emirates Based On Ripple

Tranglo using Ripple payment solution to facilitate payment in UAE.


Leading Asian cross-border payment company Tranglo, partner of Ripple, offering enhanced cross-border payout services in 120 countries, 650 mobile operators, 2,200 banks/wallets, and 140,000 cash pickup points through RippleNet, Ripple’s global payment network said it expanded its payment solution to the United Arab Emirates (UAE), the second-largest Arab economy. 

Tranglo noted in a recent tweet that it added UAE to its Connect Network, a solution that will offer businesses instant settlements, low-cost transactions, etc. 

“UAE is now part of the Tranglo Connect network, offering instant payments to the second largest Arab economy,” Tranglo said. 

UAE Offering Efficient Cross-Border Payment Solutions in Asia

Tranglo is committed to offering efficient payment solutions in Asia, which prompted the addition of the UAE to the Tranglo Connect Network. 

The United Arab Emirates is considered the second-largest economy in the Arab Gulf. The country is also among the top remittance nations in the world. According to reports, UAE recorded a whopping $6.78 billion and $42.7 billion in remittance inflows and outflows, respectively.

Earlier this year, the UAE’s cross-border settlement recorded an 8.2% surge in the first quarter of 2022. The development prompted the Abu Dhabi Commercial Bank to predict a 6% growth in the country’s remittance by the end of this year.

The Malaysian-based fintech company has made significant moves toward achieving this goal, including partnering with popular payment company Ripple to facilitate instant cross-border settlements. 

Tranglo recently announced that it enabled Ripple’s On-Demand Liquidity (ODL) across its 25 payment corridors to process payments on behalf of its clients. 

Based on this, it is safe to assume that Tranglo will also utilize Ripple’s ODL in the second-biggest Arab economy. 

“We’re thrilled to announce today that we’ve enabled Ripple‘s On-Demand Liquidity across all our payment corridors,” Tranglo said. 

Meanwhile, Tranglo’s partnership with Ripple goes beyond the adoption of the Silicon Valley tech company. As reported by TheCryptoBasic, Ripple acquired a 40% stake in the company to expand the RippleNet solution to Southeast Asia. 

Bitcoin And Shiba Inu Payments Reach Latin America As Binance Card Debuts In Argentina

Mark Brennan
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Bitcoin And Shiba Inu Payments Reach Latin America As Binance Card Debuts In Argentina

Updated:

Bitcoin and Shiba Inu Holders Can Now Make Payments With SHIB Using Binance Prepaid Card In Argentina.


Holders of bitcoin and Shiba Inu can now use it in payments in Argentina.

Shiba Inu holders in Argentina can now use their favorite cryptocurrency for payments in Argentina. It comes as MasterCard CEO Michael Miebach revealed in a tweet on Tuesday that the firm has formed a partnership with Binance to launch the Binance prepaid card in the Latin American giant. 

Notably, Argentina is the first Latin American country and one of only a few countries outside Europe where the card is available.

“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. By using the Binance Card, merchants continue to receive fiat and the users pay in the cryptocurrency they choose. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption and now it is available for users from Argentina,” Maximiliano Hinz, general director of Binance in Latin America, noted in a press release attached to the announcement.

It is worth noting that The Crypto Basic first reported that Binance Card had added support for Shiba Inu on August 5. The move meant that Shiba Inu holders in several European countries where the card is available could now use their crypto to make payments with over 60 million merchants across the globe.

To be eligible to get the card in Argentina, users must be residents in Argentina and verify their Binance account with a valid national ID, Documento Nacional de Identidad. Then, users can order the card directly from the Binance Card website or the footer on Binance.com.

It is worth noting that payments are a missing link for the broader crypto industry, which many believe will drive broader adoption. Consequently, it will be unsurprising to see increased crypto and Shiba Inu adoption in Argentina with the launch of the Binance Card. Notably, unlike the Binance Card available in several parts of Europe, which Visa supports, the one in Argentina is supported by over 90 million merchants worldwide. Moreover, users can use both cards for in-store and online payments.

Today on 16th September, the Shiba Inu’s official account confirmed that the Binance card in Argentina supports Shiba Inu.

 

The development is cause for further excitement in the Shiba Inu community, which is presently hyped up as Shiba Inu begins to roll out its first game. Notably, on Tuesday, the team’s game lead William Volk revealed that he would showcase the card collection game at Gamescom. 

Shiba Inu is currently trading at the $0.00001318 price point, a 19.41% price drop in the last seven days. 

What and How To Invest In Monero?

Andrew MacGill
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What and How To Invest In Monero?

Originally launched in 2014 the idea with which Monero (XMR) was conceived was to allow its transactions to be made privately and anonymously. Let’s say that in its early days it was conceptualized as an enhanced version of Bitcoin. Why do we say this? Because although Bitcoin protects the information of the people involved in a transaction, its blocks are transparent, making it possible to know at least some of the wallets involved. Monero has the same purpose, but with security protocols that make the participants of the transactions almost invisible.

The founders of Monero originally numbered seven, however, only two left their identities uncovered while the other five remained anonymous. The history of XMR dates back to 2014 when a Bitcointalk forum user created a post where he talked about the creation of BitMonero. A compound name that obeyed those acronyms for Bit (from Bitcoin) and Monero This project, had been created as a hard fork of Bytecoin (Coin originating from Monero), improved some of its features.

After its birth XMR grew rapidly because it mixed privacy, security and decentralization, three of the preferred fundamentals of cryptocurrency lovers. This growth made it a coin to watch closely to the point that it has increased its value from $0.213 in its beginnings to $167 today, so if you want to start in the world of cryptocurrencies XMR is an interesting option, because if we take into account its growth margin we infer that in the future it could replicate its historical maximum that reached up to $517.62.

How to invest

To invest in XMR there are several alternatives, on the one hand there are virtual wallets such as Guarda that allow you to buy Monero on Guarda to have it and store it safely and instantly and on the other hand there are exchanges that offer the service of buying and selling cryptocurrencies.

What makes Monero unique?

XMR was born with the aim of further enhancing the privacy of the people transacting with it. This was perfected so much that payments through Monero are impossible to track because they leave no trace. This feature has allowed it to differentiate itself in different areas for better and for worse. The technology behind this is Ring Signatures which consists of a group of cryptographic signatures where only one of them is real, but it is impossible to find out which one it is or where the funds come from.

Current Monero numbers

The first thing we see if we check its profile on the Coinmarketcap website is that it has a market cap of $3,045,559,310 and has a volume in the last 24 hours of $145,414,316. Its maximum supply is 18 million XMR of which all 18 million are in circulation.

Its price for this moment is $167 and according to Digital Coin Price projections it is expected that it could rise to maintain the average price for the year at $174.92. The same website made predictions for the next 9 years, resulting in the following average price: $195 in 2023, $196 in 2024, $250 in 2025, $224 in 2026, $282 in 2027, $414 in 2028, $525 in 2029, $596 in 2030 and $640 in 2031.

Someone Just Bought Pudgy Penguins NFT For 400 Ethereum Even In Crypto Meltdown

Mark Brennan
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Someone Just Bought Pudgy Penguins NFT For 400 Ethereum Even In Crypto Meltdown

Is it a bear market?



Someone recently bought Pudgy Penguins non-fungible token (NFT) with the hashtag #6873 for 400 Ethereum (ETH) worth around $630,000, which is more than half a million dollars even in the current market downturn. 

The digital artwork is part of the 8,888 Cute Chubby NFT on Pudgy Penguins collection designed by freelance artist Cole Thereum, the project’s owner. 

The recent sale marks a new milestone for the Penguin collection as it is among the highest-selling virtual artworks in the group. In addition, it recorded the largest NFT sale within 24 hours at the time of purchase. 

The PudgyPenguin #6873 NFT was bought by dreesuschrist on CoinUnited, a cryptocurrency exchange based in Hong Kong, from the seller who has held the digital artwork for almost a year. Before the sale, the NFT was purchased on CoinUnited for 225 wrapped ETH.

The Penguins’ recent sale came just a few months after Luca Netz acquired the project from its creator Cole Thereum for approximately 750 ETH.

The latest NFT sale comes when the cryptocurrency industry faces a new meltdown, with Bitcoin, the King coin retesting $21,000.

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