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BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service

Zabi
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BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service

Bitmart, the most trusted cryptocurrency trading platform, recently declared that it will support SafeMoon for tokenswap from V1 to V2. The exchange will offer users a swap service meaning that the migration from V1 to V2 will be done automatically so that users on the platform don’t have to manually transfer them.

The exchange also notified its users via its official blog post that new tokens will be distributed according to the ratio afterward, based on the snapshot records. The conversion ratio of SafeMoon v1 (SAFEMOON) and SAFEMOON v2 (SFM) is set at 1000:1.

In addition, Bitmart also disclosed a plan to list Safemoon on its exchange for trading purposes. The plan is as follow:

  • The deposit feature will be made available on 1/11/2022 at 11:00 AM (EST)
  • The trading feature will be made available on 1/11/2022 at 12:00 PM (EST)
  • The withdrawal feature will be made available on 1/12/2022 at 12:00 PM (EST)

“Safemoon 2.0”, the official Twitter handle of Safemoon recently posted the update for its followers and said that BitMart is in active conversation with Safemoon’s team and closely working to reach a solution for SAFEMOON holders.

Safemoon’s team also confirmed that the migration of SAFEMOON will be carried automatically by Bitmart, for all of its users. Therefore, users don’t have to worry.

Back on December 29, Safemoon has officially winded down the support for V1. On the same day, the V1 tax was changed to 100%, with the purpose to remove incentives to continue holding Safemoon V1.

The decision was made as the team behind Safemoon (SFM) decided to shift its full focus to V2 to evolve the SAFEMOON ecosystem.

Binance CEO Predicts Global Cryptocurrency Adoption Will Jump From The Current 5% To 20% In 2022

Mark Brennan
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Binance CEO Predicts Global Cryptocurrency Adoption Will Jump From The Current 5% To 20% In 2022

In 2022, global cryptocurrency adoption will jump from the current 5% to 20%.



The main drivers of crypto adoption will be the SocialFi and GameFi sectors. This forecast was given by Binance CEO Changpeng Zhao in an article from the Indian version of Fortune.

The head of Binance noted that 2021 was marked by “rapid innovation” in the field of DeFi.

“DeFi saw rapid innovation in 2021, and we will likely see burgeoning interest and innovation in 2022, with SocialFi and GameFi acting as key drivers.”

He further said:

“Crypto is versatile, can be used as currency, asset, reward token, utility token, and more. The applicability of crypto and blockchain has disrupted the financial industry and will disrupt more. Global Crypto Adoption is likely to jump 5% to 20% in 2022.”

Zhao also pointed out that a number of challenges remain at DeFi, especially in “creating sophisticated financial instruments, ensuring liquidity and capital efficiency, and managing risk and safety.”

Regarding India, Zhao noted the importance of government support for blockchain and cryptocurrency innovation, regardless of asset classification.

“Regardless of how the Indian government chooses to classify it, it is pivotal that they support and foster innovation within the blockchain and crypto space in the country.”

According to a NASSCOM report, the country’s crypto market is expected to reach $241 million by 2030 and potentially create 877,000 jobs. The organization also predicts an increase in the inflow of funds from retail investors in digital assets to $15.6 billion by 2030 from $6.6 billion at present.

“India will benefit as the crypto industry can provide funding opportunities for entrepreneurs, alternative sources of income for individuals, and stronger support for local developers,” Zhao said.

He stressed that the country is ready to “become a leader in the field of blockchain and cryptocurrencies.”

“In addition to banking and financial services, DLT technology can improve the efficiency of land transactions, supply chains, agriculture, and corporate sustainability,” Zhao added.

PAP System: A Distributed Electronic Protocol

Mark Brennan
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PAP System: A Distributed Electronic Protocol

What is PAPP?

The native token of Red Capital, PAPP is a distributed electronic protocol that eliminates the need for a third party when providing an anonymous promissory note service. Based on the latest technology (ZK-SNARK) and hybrid data structures, PAPP provides strong security against big data collectors and profilers for every transaction in the system.

PAPP Token Overview

Total Supply: 21,000,000

Transaction Tax: 0.2%

Coinstore.com Listing: 13 January 2022, 12:00 (UTC+8)

Deposit Time: 12 January 2022, 12:00 (UTC+8)

Withdrawal Time: 13 January 2022, 12:00 (UTC+8)

What is the Token Utility of PAPP?

As the native token of Red Capital promoting security and strong protection, PAPP has multiple use-cases such as:

  • Hiding promissory notes in which users are able to deposit fixed denominations of digital currency and issue anonymous promissory notes
  • Obtaining $PAPP when issuing promissory notes which can be used for profit sharing or administration

At the time of writing, one PAPP token is valued around $0.5~USDT.

A Closer Look at PAPP’s Tokenomics

  • 10% tokens are allocated to the technology team (PAP Labs)
  • 10% tokens are owned by the marketing team
  • 5% tokens distributed for marketing communications
  • 5% tokens used in operations
  • 70% tokens are mined by users

For every transaction, 0.2% tokens are distributed among PAPP holders as profit-sharing smart contracts which will be split once profits are generated. Interested users are free to check out PAPP at Coinstore.com from 13 January 2022 onwards and be a part of this exciting project!

PAPP’s Official Channels

Website: https://www.redscalefund.org/index

Twitter: https://twitter.com/gelynmadz

Get PAPP on Coinstore.com: https://www.coinstore.com/#/spot/PAPPUSDT

Download the Coinstore.com app: https://www.coinstore.com

About Coinstore.com

Coinstore.com‘s goal is to advance the crypto industry to the next level and provide access to popular digital assets to the mainstream public. Encompassing a whole new concept of “fun” in finance, Coinstore.com also aims to equip our users with experience and techniques to buy, sell and trade on the go. Still in its up-and-coming stages, Coinstore.com welcomes community members and interested influencer partners to join us for collaborations.

Media Contact:

Charles Tan, Marketing Head, Coinstore.com

charles@coinstore.com

Liu Yi Yun, Branding Executive, Coinstore.com

yiyun@coinstore.com

Coinstore.com Social Media:

Twitter: https://twitter.com/coinstore_en

Telegram Discussion Group：https://t.me/coinstore_english

Telegram Announcement Channel：https://t.me/coinstore_global

Facebook: https://www.facebook.com/coinstoreglobal

Website: https://www.coinstore.com

Discord: https://discord.gg/KKHtHa4KPX

Instagram: https://instagram.com/coinstore_exchange

Youtube: https://www.youtube.com/channel/UCHu0m61HHuDftQVE_0jHaYA/videos

TikTok: https://www.tiktok.com/@coinstore_global

Last Year NEAR, Solana And Terra Saw Most Growth In Full Time Developers

Zabi
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Last Year NEAR, Solana And Terra Saw Most Growth In Full Time Developers

Undoubtedly, Ethereum remains at the top of the list of active developers, but NEAR, Solana, And Terra saw the most growth in developers.



Jeff Kauflin of Forbes dives into ElectricCapital’s report that shows which blockchains attracted the most developers in 2021.

Electric Capital compiled the data from GitHub, the go-to online repository where developers store their code, to estimate how many developers work on each platform. However, their data underestimates the total number of developers as the code written privately cannot be captured by GitHub.

Electric Capital research data prove the crypto industry’s growth as the developers actively working on cryptocurrency platforms increased from 8,000 to 18,000 in just one year.

This figure comes after analyzing 500,000 sets of code and 160 million code updates by Electric Capital.

Avichal Garg, a managing partner at crypto-focused venture firm Electric Capital, said:

“Developers tend to be pretty rational. If there’s something they can play with that has real utility, developers have this ability to go find that thing,”  He views the number of developers working on a crypto network “as a leading indicator of where value will be created and accrue; over the next ten years.” 

Looking into the data, Electric Capital found that Ethereum is leading all the platforms, as the research found that 1,300 full-time developers are busy creating applications on it. While Polkadot comes second with 529, then Cosmos 303, Solana 228, Bitcoin 217, Near 137, Cardano 118, Kasuma 110, Tezos 86 while Binance smart chain had 84 active developers as of Dec 21.

active developers
image source: Forbes

In terms of growth in full-time developers, Solana (SOL), Near Protocol (NEAR), and Terra (Luna) attracted hundreds of developers, surprising many crypto gurus. Terra active developers rose by 313%, while Solana and Near active developers increased by 307% and 291%, respectively.

developer growth
image source: Forbes

Solana and Near are famous for offering grants to software developers who agree to build applications on their respective systems.

Several applications built on the Solana range from crypto trading exchanges and lending products to music apps, all have gained immense popularity.

The research concludes that Ethereum is still the top choice of the developer as one in every four new crypto developers who entered the industry over the last year chose to build on Ethereum.

Binance Confirms Solana Network Congestion Issues

Jakkk
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Binance Confirms Solana Network Congestion Issues

Binance confirms Solana Network Issues.



Binance, the world’s top exchange, has addressed the Solana network issues by publishing a blog post. Wu blockchain also addresses the problem.

“Solana network is currently experiencing congestion due to increased high compute transactions.”

Binance reports that the Solana network is experiencing high congestion due to increasing high compute transactions. Such increased congestion is limiting the network to several thousand transactions per second. As a result, transactions are failing on the Solana network. Binance informs users that they have to pause SOL withdrawals from time to time to clear the backlog. The exchange also confirms that they are working with the network to provide a stable, long-term solution.

Slow Solana transactions are an issue that has been hurting the network for a month. SOL team is not providing any details on why the network is experiencing such issues. Earlier, TheCryptoBasic reported that the Solana network continues to experience problems in processing transactions, but that hasn’t stopped the price of SOL from rising higher.

Solana network continues to face problems and transaction failures. That might be because the network was the target of DDoS attacks and was slow to process transactions. However, the SOL team is not coming forward to provide a legitimate answer.

Shib Holders Can Now Borrow And Lend Shiba Inu Tokens To Earn Interest

Mark Brennan
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Shib Holders Can Now Borrow And Lend Shiba Inu Tokens To Earn Interest

Euler Finance adds support for Shiba Inu.



Euler is a non-custodial protocol on Ethereum that allows users to lend and borrow crypto assets. Euler announced support for Shiba Inu, where users can now borrow or lend tokens and earn interest.

To borrow and lend on the Euler app, you need to click on Transaction to deposit. Select your asset from the dropdown. Approve. Deposit. When other users borrow, you will start earning interest. The app also allows users to hedge their position; Users can consider borrowing and shorting if they see an excellent arb opportunity. The app provides feeless flash loans through transaction builder.

Euler rolled out its main net launch and released smart contracts on Github, with four audits in Dec 2021. Euler Finance’s main net was launched after 15 months of development. The platform allows for permissionless lending and boasts several features that may help it stand out in a competitive lending space.

The company also launched ‘Euler’s Oracle Risk Grading System,’ which ranks markets’ A’ to ‘F’ based on the manipulated risk of their Uniswap V3 price oracle. Euler Finance token also has its native token ‘EUL’ listed on coinmarketcap.

 

Jack Dorsey Firm ‘Block’ To Develop Bitcoin Mining ASIC

Albert Brown
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Jack Dorsey Firm ‘Block’ To Develop Bitcoin Mining ASIC

After stepping down as Twitter CEO in November last year, Jack Dorsey focuses his energies on Bitcoin.



Dorsey is looking for the “next generation” of bitcoin mining ASIC. A job for ‘Custom Digital Design Lead’ position was posted on LinkedIn from ‘Block,’ the job description says:

“You will be part of the custom silicon team in Block that develops bitcoin mining ASIC. In this role, you will work closely with other digital designers and mixed-signal designers to develop the next generation of mining ASIC.”

The job demands:

“BSEE degree or Applied Science degree (or higher) with 10+ years of related experience. Good understanding of the full design cycle from RTL to GDSII, including chip level. Experience with CDC, STA, LINT, DFT, IP, and Physical design flow (preferably Cadence flow).”

While there are competitors in the industry, it is worth noting that Bitmain has been the leading ASIC manufacturer for years. In addition, the company not only produces ASIC chips but also mine Bitcoin.

Even before he departed from Twitter, Dorsey left clear hints that he would focus on bitcoin expansion and developing such mining machines. In an October Twitter post, the former Twitter CEO pointed out five reasons for such an endeavor.

The first one is related to distribution, the decentralization of mining power. Dorsey criticized the concentration of mining manufacturing in the hands of a few companies and vowed to make it more decentralized. This was followed by efficiency, both in hardware and software.

As BTC mining has proved to be promising, this sector has become a big business, and because of that, there is less decentralization of mining. The top enterprises that can afford high-cost thousands of ASIC mining equipment can only profitably perform BTC mining. If Dorsey’s ideas are realized, it will be possible to mine BTC at home effortlessly.

Recently Ex Twitter CEO Jack Dorsey changed his payment firm ‘Square’ name To “Block” as part of an extensive push into Crypto. Twitter CEO Jack Dorsey also revealed his efforts to build a decentralized Bitcoin exchange and Confirmed Square Is creating a Bitcoin Hard Wallet.

Polygon Launches ‘Plonky2’, A Major Step Towards Ethereum Scaling

Mark Brennan
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Polygon Launches ‘Plonky2’, A Major Step Towards Ethereum Scaling

Polygon announces the launch of Plonky2.



According to Polygon, their mission is to scale Ethereum to a billion users; to achieve that milestone, the team announced the launch of Plonky2. Plonky2 is a recursive SNARK that is compatible with Ethereum and 100x faster than existing alternatives. To support recursion and low verification cost on Ethereum, Plonky2 combines PLONK and FRI and the best of STARKs.

The exception is that Plonky2 can check other SNARK solutions. Polygon writes:

“To see why that’s useful, suppose that we want to prove that a batch of 1,000 transactions are valid. Generating a single proof to verify 1,000 transactions at once would be expensive and time-consuming. Instead, we can take 1,000 machines and generate 1,000 proofs in parallel, one for each transaction. Next, we can take these transaction proofs and recursively aggregate them by generating a layer of recursive proofs, with each one verifying two transaction proofs. We repeat this process until we’re left with a single proof that verifies 1,000 transactions. .”

According to the Polygon team, plonky2 have the following features:

  • The plonky2 recursive approach is faster, less resource-intensive, and can be more decentralized.
  • A recursive proof on Plonky2 takes 170 milliseconds on a fast computer like Macbook Pro.
  • Plonky2 also allows users to speed up proving times for proofs that don’t involve recursion.
  • Plonky2 is natively compatible with Ethereum. Plonky2 requires only keccak-256 to verify proof.

Plonky2 is an essential step in Ethereum scaling, just like last year when Polygon laid out its commitment to support ZK Rollups to build better ETH scaling solutions. ZK L2s have benefited from a lot of hype, but current solutions rely on cryptographic primitives that are inefficient and limit scalability. Though L2’s will compete on throughput and cost, Plonky2 will allow the Polygon ecosystem to build better scalable L2s.

According to Polygon, the recursive approach is fast, resource-efficient “and could be more decentralized.” Recall that in December, the Polygon project absorbed the Mir Protocol startup, which developed the Plonky2 protocol. The deal was worth $400 million. As a result of the rebranding, Mir Protocol became Polygon Zero. Previously, Polygon acquired the Hermez Network platform, which also specializes in L2-based ZK-Rollups. The deal was valued at $250 million.

At the same time, the project announced that it will spend $1 billion on the development of solutions related to ZK-Rollups. In November, Polygon announced Miden’s Ethereum solution based on ZK-Rollups and released its central component, a virtual machine using the zk-STARKs protocol as the underlying proof system.

 

 

Covering Top Stories For 175 Years, Associated Press (AP) Is Launching NFT Marketplace, NFTs Will Be Minted On Polygon

Mark Brennan
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Covering Top Stories For 175 Years, Associated Press (AP) Is Launching NFT Marketplace, NFTs Will Be Minted On Polygon

Associated Press (AP) is launching an NFT marketplace.



In the ap.org official press release, AP announced that they would launch a non-fungible token (NFT) marketplace built by blockchain technology provider Xooa. Xooa specializes in building NFT marketplaces for brands and IP owners.

The marketplace and first NFTs will debut on Monday, Jan. 31. Dwayne Desaulniers, AP director of blockchain and data licensing, said:

“For 175 years, AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today; With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”

The initial collection will include a selection of digital images of photographs from current and former AP photojournalists. Images of Pulitzer Prize-winning APs will also be included.

Ap writes:

“The NFTs will be minted on the Polygon blockchain, which is an environmentally friendly, Ethereum-compatible layer two solutions.”

Each NFT will include information on the time, date, location, equipment, and technical settings used for the photoshoot. Starting from Jan 31st, NFTs will range from space, climate, war, and other categories to spotlight AP photographers’ work. NFT pricing range will vary. The proceeds will go to fund AP’s unbiased journalism.

All NFTs Collectors will be able to buy, sell, and trade official AP digital collectibles through the marketplace. It will support credit card payments as well as cryptocurrency wallets including MetaMask, Binance, and Coinbase.

 

Koinbazar Join Kraken And Binance In Listing Shib, While AMC CEO Confirm Shiba Inu And Dogecoin Listing in March

Zabi
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0
Koinbazar Join Kraken And Binance In Listing Shib, While AMC CEO Confirm Shiba Inu And Dogecoin Listing in March

Adam Aron, CEO of AMC Theatres, recently updated its followers via tweet that AMC Theatres is working on accepting Dogecoin (DOGE) and Shiba Inu (SHIB) as a form of payment on the AMC website and mobile app, and it is most likely that implementation will take place in March.


The announcement was made as the community backing the meme coins was, again and again, asking the CEO of AMC Theatres the same question: When AMC is going to accept Dogecoin and Shiba Inu as a form of payment method?

Looking back into history, On October 9, 2021, Adam Aron organized a Twitter Poll in which he asked his followers to vote for SHIB if they wanted it to be listed on AMC Theatres as a form of payment. 81.4% of followers said “YES” to the poll.

Later, on November 12, 2021, CEO Adams announced that AMC Theatres now proudly supports Bitcoin, Ethereum, Bitcoin Cash, and Litecoin as a form of payment. He also mentioned “Dogecoin” will be the next. However, SHIB was not anywhere on the list at that time, despite Poll results were being in favor of Shiba Inu.

Shortly after, on November 16, 2021, Adam Aron declared that AMC would soon be able to accept Shiba Inu for online payments of movie tickets and concessions as Bitpay, the world leader in blockchain payment technology, decided to support Shiba Inu precisely because of his request.

Since then, Adam Aron hasn’t spoken about SHIB or Dogecoin. This silence made the community curious. As a result, the CEO, Aron, responded and came up with an exciting update for making SHIB and Doge payment methods for his business.

On the other hand, Indian crypto exchange Koinbazar joined Binance, Kraken, and other top exchanges listing Shib.

 

Koinbazar’s primary specialty is allowing US traders to trade on its platform. The exchange has been operating since 2020 and ranked 154th by Coinmarketcap.

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