Home Blog Page 2329

Big Deal For Tezos As The Team Implements Jakarta, Its 10th Forkless Protocol Upgrade

Albert Brown
-
0
Big Deal For Tezos As The Team Implements Jakarta, Its 10th Forkless Protocol Upgrade

 

Tezos Implements Jakarta, Its 10th Forkless Protocol Upgrade.



In a tweet on Tuesday, Tezos reveals it has launched “Jakarta,” its 10th protocol upgrade named after the Indonesian capital.

 

Jakarta is expected to bring rollups to the blockchain and an improvement to its “Michelson Tickets” system. Unlike other Layer 2 rollups, Tezos is working towards building rollups that will be integrated with the blockchain and not run as smart contracts.

Developers say the latest upgrade will bring improved scalability and decentralization capabilities to the blockchain. 

The Jakarta upgrade is set to boost the networks already impressive transaction speed and finality. Notably, the upgrade will also be combined with an experimental implementation of optimistic rollups dubbed “Transaction Optimistic Rollups” (TORUs). TORUs will allow users to exchange digital assets without executing smart contracts.

The experimental rollup is believed to significantly increase the network’s high throughput applications on the blockchain. Additionally, implementing TORUs natively on the blockchain and not as a smart contract as optimistic rollups are implemented on competitor Ethereum will allow developers to come up with more seamless scalability solutions.

Tezos has become increasingly popular for its ability to undergo upgrades without hard forks. Even more impressive is the fact that an exploit is yet to be recorded on the blockchain.

Notably, Tezos is a blockchain built for the development of decentralized apps, putting it in the same arena as heavyweights like Ethereum, Solana, and Avalanche. With its impressive scalability and security performance, analysts expect the blockchain will likely get more attention in the future.

Weeks ago, in a very significant move, leading stablecoin Tether launched on the blockchain, a move that shows the increased recognition it is getting, and it is likely to lead to increased adoption. “Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth,” surmised Tether CTO Paolo Ardoino at the time.

Aside from upgrades and new stablecoin support, the network has been actively pursuing sports partnerships and sponsorship deals. For example, on June 17, The Crypto Basic reported that Tezos had reached a partnership agreement with Mclaren Racing to create an NFT experience for fans. Additionally, In February, the network revealed that it had become the official training kit partner of popular English football club Manchester United. 

At the time of writing, Tezos is leading the Top 50 crypto assets in terms of gains in the last 24 hours, according to data from CoinMarketCap. The native token XTZ is up 7.46% and is exchanging hands on mainstream exchanges for $1.45.

BabyDoge On Fire, Burns Another One Quadrillion Coins, Total Burn Reaches 51 Quadrillion In Less Than 24 Hours

Lele Jima
-
0
BabyDoge On Fire, Burns Another One Quadrillion Coins, Total Burn Reaches 51 Quadrillion In Less Than 24 Hours

Another One Quadrillion Baby DogeCoin (BABYDOGE) Burnt Less Than 24 Hours After 50 Quadrillion Units Were Destroyed.


 

Less than 24 hours after burning a whopping 50 quadrillion units of BABYDOGE Worth $88 Million, the Baby Doge team has announced that it has burnt another one quadrillion BABYDOGE tokens.

The canine-themed cryptocurrency project took to Twitter to share details of the transaction, which can be viewed on the Binance Smart Chain (BSC).

Per details of the transaction on the Binance Smart Chain, the burn occurred earlier today and was worth around $1.6 million. The Baby Doge team sent one quadrillion units of the canine-themed cryptocurrency from its official wallet to a dead wallet, where all tokens burnt by the Baby Doge team have been sent to.

Baby Doge Committed to Reduce Its Total Supply

The development is part of the monthly burn exercise conducted on a monthly basis. The Baby Doge team has been embarking on a monthly burn of its token’s supply in a bid to reduce the volume from 420 quadrillion units to a much lower amount.

The idea is to eventually bolster the value of the cryptocurrency in the near future.

Although the Baby Doge team has been burning one quadrillion units of the cryptocurrency monthly, it has also burnt more units on special occasions like when it gets recognition from a popular figure or via a decision made by its community.

Interestingly, the crypto project launched a community proposal last month that resulted in the burning of 50 quadrillions of BABYDOGE coins from the Ethereum network.

The community voted that the tokens should be sent to the dead wallet in one go and the Baby Doge team heeded these calls exactly as investors demanded.

Baby Doge completed the biggest burn transaction in the history of the cryptocurrency industry and also sent proof of the transaction on Twitter.

BABYDOGE Down 9.3% in 24 Hours

Meanwhile, despite the whopping amount of burns carried out by Baby Doge in the last 24 hours, the token is still not reflecting these positive developments.

BABYDOGE, which soared to a high of $0.000000001780, plummeted massively to a low of  $0.000000001548 in the last 24 hours.

At the time of writing, Baby DogeCoin is trading at $0.000000001780, representing a decline of 9.3%.

You Can Now Pay for Uber Eats and DoorDash Food Delivery Services Using Bitcoin and Shiba Inu

Albert Brown
-
0
You Can Now Pay for Uber Eats and DoorDash Food Delivery Services Using Bitcoin and Shiba Inu

The utility of the second-biggest meme-based cryptocurrency Shiba Inu (SHIB) has continued to skyrocket on a daily basis. 


According to a recent announcement, Shiba Inu enthusiasts can now use the cryptocurrency to pay for services rendered by food delivery service companies UberEats and DooDash. 

SHIB holders can indirectly make payments to the two food delivery companies via initiatives launched by popular cryptocurrency payment provider BitPay. 

Based on the development, Shiba Inu users can order food online from their favorite restaurants and have it delivered straight to their doorsteps by two popular food delivery services – UberEats and DoorDash, and the good news is that they will pay for the delivery service in SHIB. 

How to Pay With SHIB on DoorDash and UberEats

Although the food delivery companies do not directly accept Shiba Inu payments at the time of writing this line, BitPay noted in a recent blog post that SHIB holders can pay for services rendered by UberEats and DoorDash using three alternative methods. 

Shiba Inu enthusiasts can choose to purchase food delivery services’ gift cards using the cryptocurrency via the BitPay app, as well as using the BitPay cryptocurrency card, which allows people to spend their digital currency like cash, thus paying for the food delivery service made by UberEats and DoorDash. 

Furthermore, BitPay stated that Shiba Inu holders can also make payments to the food delivery companies using Takeaway.com or Menufy and can pay directly from their cryptocurrency accounts. 

Aside from Shiba Inu, BitPay also allows its users to have food delivered to their destination by paying in supported cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), etc. 

BitPay Fostering Crypto Payments 

Interestingly, BitPay has been one of the frontliners promoting the widespread adoption of cryptocurrency payments. The company has partnered with other fiat and cryptocurrency payment providers to give cryptocurrency holders the convenience of making payments with the nascent asset class. 

Earlier this week, BitPay announced that Shiba Inu holders can now purchase Apple products, including MacBooks and iPhones, from selected retailers like Newegg.  

Voyager Looks To Tow The Same Path As Celsius, Halts Customer Withdrawals And Deposits

Mark Brennan
-
0
Voyager Looks To Tow The Same Path As Celsius, Halts Customer Withdrawals And Deposits

 

Voyager Halts Customer Withdrawals And Deposits.



In a press release on Friday, Voyager reveals that it is halting customer trading, withdrawal, deposits, and loyalty rewards as it battles to find stability in the current crypto market environment.

Voyager CEO Stephen Ehrlich said:

“This was a tremendously difficult decision, but we believe it is the right one given current market conditions. This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together. We will provide additional information at the appropriate time.”

It is worth noting that on June 27, Voyager disclosed that it had significant exposure to embattled crypto venture capital firm Three Arrow Capita (3AC). As a result, Voyager issued a default notice to 3AC, revealing that the firm had failed to make payments on loans of 15,250 BTC (approximately $294 million at the time of writing) and $350 million USDC. 

However, at the time, the crypto lender had maintained it would continue to conduct business as usual, noting significant lines of credit obtained from FTX founder Sam Bankman-Fried’s Alameda, totaling about $813 million.

Unfortunately, for Voyager investors, it appears that these have not been enough to stem the damage from the increasing contagion risk as the value of crypto-assets continues to drop. Notably, Voyager appears to be treading the same path as crypto lending protocol Celsius, which made risky bets on the LUNA ecosystem and got burnt.

Celsius, like Voyager, halted withdrawals on June 13 to get its house in order and meet debt and withdrawal obligations. However, the firm has yet to disclose a clear plan out of its bind. The latest reports reveal the firm may be looking at filing for bankruptcy as advised by its legal team as Goldman Sachs prepares to purchase its assets in that event.

BlockFi, a Voyager competitor, has also been impacted by the 3AC debacle as withdrawals surged due to panic about its exposure to the VC. However, the firm on Friday revealed that it had taken only a minor loss but has made a deal of up $680 million with FTX.US that could see FTX eventually acquiring the firm.

As the crypto market turbulence continues, pundits like FTX’s SBF, Binance’s CZ, and Pantera Capital’s Dan Morehead have maintained that more firms will collapse in the current market downturn.

Pantera Capital’s chief, in a letter to investors, attributes this to the excess leverage in the system. Several traditional finance analysts have compared this period in the crypto market to the dot-com bubble that saw several early internet startups collapse.

Notably, Voyager has enlisted the help of Moelis & Company and The Consello Group as financial advisors and Kirkland & Ellis LLP as legal advisors to guide it through this period. Additionally, it is worth noting that the company’s shares dropped by an additional 30% on Friday, trading at about $0.30.

Ripple Unlocks Another 500 Million XRP Tokens In Less Than 24 Hours After Unlocking One Billion XRPs

Mark Brennan
-
0
Ripple Unlocks Another 500 Million XRP Tokens In Less Than 24 Hours After Unlocking One Billion XRPs

More XRP unlocked from Ripple Escrow.


Less than 24 hours after Ripple unlocked one billion XRP tokens from its escrow wallet, the fintech company released yet another 500 million units of XRP.

According to cryptocurrency tracking service company Whale Alert, Ripple unlocked the new XRP tokens in two separate transactions.

The first transaction saw the blockchain company unlock 300 million XRP worth $93 million from its escrow wallet and the released tokens were immediately transferred to Ripple’s external wallet, while the other transaction featured the release of 200 million XRPs valued at $62.4 million and they were sent to an unknown wallet that has no label.

Ripple’s Token Unlock Initiative

It is important to note that the transactions came moments after Whale Alert announced that Ripple had already unlocked one billion units of XRPs, which was valued at over $300 million in the early hours of Friday.

The tokens unlocked from Ripple’s Escrow wallet are part of a monthly token unlock exercise made by the blockchain company, which started in 2017.

Ripple holds the larger amount of XRP and the company has been gradually releasing one billion units of its XRP stash into the market on a monthly basis.

The idea of gradually releasing the tokens is to keep the price of the cryptocurrency afloat and prevent it from plunging, especially now that Ripple is facing a lawsuit filed by the Securities and Exchange Commission (SEC).

Ripple Moves to Keep XRP Price From Plunging

Ripple also took significant steps to further protect the XRP price by relocking back a larger sum of all newly released tokens. After unlocking one billion XRP monthly, the blockchain company usually puts back 800 million of the total sum into escrow, while the 200 million units are left in the market to cater to Ripple’s daily operations.

Many people expected this yesterday when Ripple unlocked the first one billion XRPs. Ripple did not disappoint its community as it also locked some of the released tokens back to its Escrow wallet.

However, Ripple only put back 700 million XRPs out of the 1.5 billion tokens unlocked yesterday. The transactions took place in two separate lumps, with each containing 500 million and 200 million, respectively.

Meanwhile, the price of XRP was not affected by the unlock of another 500 million XRP tokens. The token is only down 0.3% in the last 24 hours and it is currently trading at $0.31.

A LPL like tournament in the GameFi circle, offering 500K USD in total prize: DracooMaster Champion Series 2022 unveiled

Mark Brennan
-
0
A LPL like tournament in the GameFi circle, offering 500K USD in total prize: DracooMaster Champion Series 2022 unveiled

As a blockchain-based trading card game, DracooMaster is under the spotlight.

The rich gameplay experience it brings to players has made it absolutely one of the most favored blockchain games on the market. Now to cater to players at more competitive levels, DracooMaster is announcing its first-time ever world tournament, officially named Dracoo Champion Series 2022. According to reports, multiple prestigious universities across Europe, America, Oceania and Southeast Asia have professed their interest in competing in this tournament.

The Champion Series page on DracooMaster’s official website shows that the tournament has set up two channels for sign-up, one for individuals and one for teams. Sign-up will last until October. For now, signup for teams has already started. It has been confirmed that e-sports organizations from some of world’s most renowned universities, such as Oxford, Cambridge, Imperial College London and Shanghai Jiao Tong University, have signed up for the tournament.

As a GameFi project of a new era, DracooMaster has quickly managed to stand out among the ocean of card games. Many traditional GameFi projects claim to be “play to earn” games, when in fact they offer very little content in terms of “play”. Users might be able to earn, but there’s no so-called gaming experience at all. DracooMaster, however, is different. With its magnificent world setting, enthralling storyline, intense battle scenes, exquisite cards, and fascinating skill effects, it had already captivated the gaming world even before it was released to the public.

The increasingly improved blockchain and cryptocurrency industry is a major factor that contributes to DracooMaster’s success. Through decentralization and NFTs, all the data and in game items are owned by the players of DracooMaster. What’s more, the introduction of Dracoo token has resolved the conflict of interest between players and developers, and allow developers, communities and players to share the interest.

With the cryptocurrency market getting more publicity, more people are starting to see the opportunities brought by play-to earn games. The skyrocketing popularity of DracooMaster is no accident; it is bound to happen as DracooMaster seized the opportunity at the cusp of the cryptocurrency wave and developed a user-oriented GameFi project.

Shortly after DracooMaster made the announcement on Twitter, e-sports organizations from prestigious universities around the world started to organize sign-up for the tournament, and dozens of e sports KOLs started retweeting and commenting on the original tweet. A wave of “e-sports graffiti” swept many cities. In countries like the UK, Austria, Vietnam and Indonesia, warm-up contests were organized as a way to show support, especially the one held in the campus of Imperial College London by the University of Oxford, the University of Cambridge and Imperial College London—that one turned out to be an eye-catching event.

According to the information released by DracooMaster, the tournament adopts a professional and mature format in which a contestant needs to go through 4 successive rounds and win the final to be the champion. The most tempting part is probably the prize that the tournament has prepared for the contestants. Those who make it into the top 64 will be able to split the prize pool – more than 500,000 US dollars of cash, as well as tons of rare designer commodities from DracooMaster. No wonder someone commented on the tweet, “This is definitely gonna be the most exciting e-sports competition in 2022”. Being the first e-sports tournament centering on a metaverse game and offering such abundant rewards, how is it not worth all the attention?

Draco 2

Another thing about the tournament worth mentioning is the mascot. It is designed by Ryo Taniguchi, the famous Japanese designer and creator of the mascots of the Tokyo 2020 Olympic Games. This dreamlike collaboration certainly serves as an indication of how much DracooMaster values this tournament. “Working with Mr. Taniguchi has been a phenomenal experience. He is undoubtedly among the best designers in the world.” said Zach Loy, BD director of DracooMaster. “This tournament could be the start of a new age for us, and for the metaverse industry as well, so we make sure that our players see the best of it.” This tournament might be able to provide some perspectives for insiders on the new direction in which the e-sports industry develops in the long run.

The Dracoo Champion Series 2022 is now open for sign ups. Those who are interested can check out DracooMaster’s official website: https://bit.ly/3RbehsH, click on the “Champion Series” tab and submit sign-up applications. Invitation letters will be sent out to applicants once the event goes public. The fanfares of DracooMaster’s “Fight till the End” have been blared. The combination of e-sports and metaverse will sure bring a new age to the gaming world.

Binance CZ Says People That Purchase Bitcoin Dips Will Be Alright, Saylor and Bukele Would Be Fine, Too

Mark Brennan
-
0
Binance CZ Says People That Purchase Bitcoin Dips Will Be Alright, Saylor and Bukele Would Be Fine, Too

Binance CEO says people buying Bitcoin dips would be fine in the future.



The decision by MicroStrategy and El Salvador to continue buying Bitcoins despite the pessimistic feelings around cryptocurrencies has been met with derision by critics. On the other hand, the acquisition was met with enthusiastic approval by the creator of the crypto exchange that operates the biggest trading platform in the world.

According to Changpeng Zhao, most of the cryptocurrency industry’s OGs had to go through at least one bear cycle during which people made fun of them. Those that purchased and held during the bear market in 2014/2015 (When BTC Dipped To $200) or 2018/2019 ($3,000) are in good shape now. Also, Nayib Bukele and Michael Saylor won’t have any problems moving forward. On the other hand, he emphasized that this is not intended to be taken as financial advice.

El Salvador’s cryptic president, Nayib Bukele, tweeted on July 1 that the nation has purchased another 80 Bitcoins at a price of almost $19,000 apiece. He then added, “Bitcoin is the future. Thank you for selling cheap.” The whole cost of the transaction was around 1.52 million dollars.

Also, MicroStrategy’s Chief Executive Officer, Michael Saylor, turned to Twitter to make the announcement that the business has purchased further Bitcoin on June 29th. The software company increased its holdings by 480 BTC, bringing the total value of those assets to $10 million.

With an incredible total of 129,699 Bitcoins in their possession, MicroStrategy was able to acquire each Bitcoin for an average price of $20,817, bringing their total Bitcoin holdings to an astounding total. 

Over the last two years, MicroStrategy has used the tactic of purchasing the dip, resulting in the total cache of Bitcoin held by the company incurring an acquisition cost of $3.98 billion.

The adoption of Bitcoin as MicroStrategy’s principal reserve currency was hailed as a success since it occurred just before the commencement of a new bull market. Bitcoin’s share price fell to a low of $152 early this month, reversing its previous losses. Although Saylor remains optimistic about the biggest cryptocurrency, he has once again proved his belief with the acquisition of the most recent token.

Biggest Burn Ever: Baby Doge Burns 50 QUADRILLION Coins Worth $88 Million In One Go

Zabi
-
0
Biggest Burn Ever: Baby Doge Burns 50 QUADRILLION Coins Worth $88 Million In One Go

 

As promised, Baby DogeCoin (BabyDoge) has finally burnt a whopping total of 50 Quadrillion tokens, worth $88,500,000 ($88.50M) from its circulation forever.



This massive BabyDoge burn comes after the community proposed to burn 50 Quadrillion BabyDoge on the Ethereum chain.

The team launched the community burn proposal on the event of the project’s first birthday, on June 2nd, 2022.

Shiba Inu’s rival, Baby DogeCoin (BabyDoge), Burns 50 Quadrillion of Baby Doge Coins from its supply on the Ethereum chain in one gigantic transaction. The transaction can be viewed on Etherscan.

Baby Doge Coin says they are also celebrating the 1 year anniversary since Elon Musk mentioned BabyDoge in his tweet. This burn transaction is also marked as the record biggest burn transaction for any coin/token in the crypto space.

 

Since the start of the New Year 2022, BabyDoge has been burning quadrillion tokens every month, but burning 50 Quadrillion coins in one go would be the first and monumental event for the meme coin community.

Till today, BabyDoge has sent a whopping total of 24 quadrillion canine-themed meme tokens worth over $66.2 million to the dead wallet in six months.

BABYDOGE is a digital currency that has a massive total supply. The cryptocurrency launched last year has a total supply of 420 quadrillion coins and a circulating supply of 159.2 quadrillion tokens.

BabyDoge Swap Launching Soon:

Following the footprints of Shiba Inu (SHIB), Baby Doge Coin confirms that they are going to launch their own decentralized BabyDoge Swap soon. The Team invites BSC tokens for partnership.

 

According to the team, BabyDoge Swap will be the first swap ever in a decentralized world that will offer communities the lowest fees possible as low as 0%.

Moreover, the BSC token projects would be able to add staking and liquidity mining to their project on a self-serve interface via the upcoming BabyDoge Swap.

El Salvador President Nayib Bukele Says “Thank You For Selling Bitcoin Cheap”

Mark Brennan
-
0
El Salvador President Nayib Bukele Says “Thank You For Selling Bitcoin Cheap”

 

El Salvador’s Nayib Bukele Purchases 80 More Bitcoins At Its Cheapest Rate Yet.


 

El Salvador’s cryptic president, Nayib Bukele, tweeted on July 1 that the nation has purchased another 80 Bitcoins at a price of almost $19,000 apiece. He then added, “Bitcoin is the future. Thank you for selling cheap.” The whole cost of the transaction is around 1.52 million dollars.

 

El Salvador made its most recent purchase of Bitcoin in May. At an average price of $30,744 per coin, the Central American nation bought 500 Bitcoins at a cost of $15.3 million.

The most recent acquisition raises the total quantity of Bitcoin (BTC) owned by the nation in Central America to 2,381, and it has resulted in a decrease in the dollar cost standard value.

When El Salvador first started purchasing Bitcoin for its treasury in September 2021, it did so by purchasing a total of 200 BTC. However, the asset could be purchased for more than $50,000 at the time.

Following that first transaction, seven further transactions were made during that year, plus one in January this year, which resulted in the acquisition of an additional 410 BTC at an average price of around $36,500.

Back in May, Alejandro Zelaya, El Salvador’s Minister of Finance, said that the amount of Bitcoin the government-owned at that time equaled less than 0.5 percent of its yearly budget. He also stated that the losses caused by Bitcoin bring extremely little risk to the country’s economic condition. Referring to his finance minister’s comments Bukele said  “Are You Telling Me To Buy More Bitcoin?”

This was after a report that was published on CNBC the week before last said that the rate of economic growth in El Salvador had drastically decreased. According to the report, the nation’s deficit continues to be rather large, and its debt-to-GDP ratio, which is a comparison of what a country owes to what it earns, will reach 87 percent this year.

CryptoQuant CEO: ‘Stablecoins On Exchanges Now Worth Half of Bitcoin Reserves, Time To Deploy Stablecoins to Buy BTC’

Albert Brown
-
0
CryptoQuant CEO: ‘Stablecoins On Exchanges Now Worth Half of Bitcoin Reserves, Time To Deploy Stablecoins to Buy BTC’

CryptoQuant CEO Says It’s Time to Buy Bitcoin (BTC) As Stablecoin Volume On Exchanges Surges.


The CEO of a leading cryptocurrency analytics company is confident that crypto prices will soar again if stablecoins sitting on exchanges can be used to purchase the asset class.

Ki Young Ju, the CEO of leading blockchain analytics firm CryptoQuant, said the volume of stablecoins sitting idle on exchanges is capable of fueling cryptocurrency prices.

Young Ju noted in a recent Twitter update that the total volume of stablecoins, including Tether (USDT), USD Coin (USDC), Binance USD (BUSD), etc., are currently worth over half of the total Bitcoin reserve.

“Stablecoins sitting in exchanges are now worth half of Bitcoin reserve. We have $25B loaded bullets which can make crypto asset prices go up. The question is when, not how,” Young Ju said.

Investors Only Waiting for the Perfect Opportunity

The CEO of the leading cryptocurrency analytics company has dismissed reports that crypto investors have deserted the market following a massive decline in digital currency prices.

He noted that most people have only decided to monitor the situation in the market while waiting for the bottom, where they can gladly hop back into their favorite crypto assets.

Young Ju’s assertion is based on the market capitalization of stablecoin, which has only fallen 11% since the beginning of the bear market.

“Bitcoin market cap decreased by -70% from the top while stablecoin went down by just -11%,” CryptoQuant CEO added.

CryptoQuant CEO: Time to Buy BTC

Young Ju further said that is time to deploy stablecoins to buy Bitcoin in order to bolster the price of the top asset class, which will bode well for other crypto assets.

“Time to deploy stablecoins to buy $BTC.”

 

Many investors have decided to convert their Bitcoin holdings to stablecoins following the massive asset class price decline.

On Year-to-Date, Bitcoin has dipped 58.1% despite starting the year at around $48,000. The asset class has fallen below $20,000 on several occasions last month, which gives many the impression that BTC is yet to find its bottom.

For some analysts, including Peter Brandt, Bitcoin’s bottom sits between $10,000 and $14,000. Following this analysis, many are waiting to see if Bitcoin prices will dip to that level before they jump back in.

1...2,3282,3292,330...2,635Page 2,329 of 2,635