Abigal Vee, Autor bei Crypto News Flash https://www.crypto-news-flash.com/author/abigal/ Mon, 06 Feb 2023 17:39:47 +0000 en-US hourly 1 https://www.crypto-news-flash.com/wp-content/uploads/2021/04/cropped-favicon_128-32x32.png Abigal Vee, Autor bei Crypto News Flash https://www.crypto-news-flash.com/author/abigal/ 32 32 Large value settlements payments on Ethereum and Stellar Lumens started by Billion-$-company VISA https://www.crypto-news-flash.com/large-value-settlements-payments-on-ethereum-and-stellar-lumens-started-by-billion-company-visa/?utm_source=rss&utm_medium=rss&utm_campaign=large-value-settlements-payments-on-ethereum-and-stellar-lumens-started-by-billion-company-visa Mon, 06 Feb 2023 17:39:47 +0000 https://www.crypto-news-flash.com/?p=234535 Visa is making plans to create a bring stablecoin settlement to its 2.5 billion customer base in the near future.  Visa is looking forward to expanding its network, to potentially integrate CBDCs and Stablecoins.  According to the chief of crypto division at the leading payment giant Visa, Cuy Sheffield, the stablecoin settlement might just be [...]

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  • Visa is making plans to create a bring stablecoin settlement to its 2.5 billion customer base in the near future. 
  • Visa is looking forward to expanding its network, to potentially integrate CBDCs and Stablecoins

  • According to the chief of crypto division at the leading payment giant Visa, Cuy Sheffield, the stablecoin settlement might just be coming to the platform. In detail, Cuy Sheffield layed down the company’s plans at the StarkWare Sessions 2023. He Reveals that visa is working on a “muscle memory” for settlements.

    The settlements will enable its 2.5 billion customer base to easily convert cryptocurrency assets and fiat currencies directly on its platform.

    Visa’s attention is now on building upon the worldwide settlements with crypto and fiat currencies. According to Sheffield, this is what Visa is currency engaged in ;

    That’s been one of the areas where we want to build muscle memory. The same way that we can convert between dollars and euros in cross-border transaction, we should be able to convert between digital tokenized dollars and traditional dollars.

    Sheffield explains that Visa is already testing the process of settlement acceptance, particularly on the Ethereum and Stellar networks. Cuy further added saying:

    We’ve been testing how to actually accept settlement payments from issuers in USDC starting on Ethereum and paying out in USDC on Ethereum. So, these are large value settlement payments..

    Adoption of stablecoins is going to catapult in so many ways, and value for accepted stablecoins could respond positively after integration.

    Visa is no stranger to Crypto

    Visa has been on the journey of bringing blockchain to its platform. Although the global payment system SWIFT, is still where all transactions will take place.

    He is quoted explaining this to Cointelegraph, saying the following ;

    We set all over Swift, so we can’t move money as frequently as we’d like because there are a number of limitations that exist in those networks. And so, we’ve been experimenting, We publicly announced. We’ve been testing how to actually accept settlement payments [with stablecoins].

    At a recent annual shareholders meeting, Visa’s former CEO AI Kelly shares some insight details.

    Per Kelly’s observations, Visa sees the potential that stablecoins and central bank digital currencies (CBDCs) have if integrated into its platform.

    Cuy Sheffield added to these observations, saying that the company is concerned with taking some of the value that Visa already provides on existing banks and rebuilding it on top of blockchain rails. That will in turn facilitate the growth of the potential in that area, if any.

    Der Beitrag Large value settlements payments on Ethereum and Stellar Lumens started by Billion-$-company VISA erschien zuerst auf Crypto News Flash.

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    Russia’s biggest Bank to launch DeFi plattform on Ethereum – Can it drive ETH price to $2,000? https://www.crypto-news-flash.com/russias-biggest-bank-to-launch-defi-plattform-on-ethereum-can-it-drive-eth-price-to-2000/?utm_source=rss&utm_medium=rss&utm_campaign=russias-biggest-bank-to-launch-defi-plattform-on-ethereum-can-it-drive-eth-price-to-2000 Sun, 05 Feb 2023 05:09:51 +0000 https://www.crypto-news-flash.com/?p=234265 Russia’s Sberbank will launch its Ethereum-based DeFi platform come May. What is in store for Ethereum’s price after the launch takes place?  Russia’s biggest bank Sberbank is in the news for its decision to continue its plans to launch its decentralized finance (DeFi) platform on Ethereum. The DeFi platform is already undergoing testing in private [...]

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  • Russia’s Sberbank will launch its Ethereum-based DeFi platform come May.
  • What is in store for Ethereum’s price after the launch takes place? 

  • Russia’s biggest bank Sberbank is in the news for its decision to continue its plans to launch its decentralized finance (DeFi) platform on Ethereum. The DeFi platform is already undergoing testing in private beta. Towards the end of April or the start of May, customers will be able to make commercial transactions. Ethereum is a fitting Blockchain for the platform, given that it will be able to pair with wallets like MetaMask.

    Sberbank has repeatedly been vocal about merging its own country’s blockchain ecosystem with Ethereum’s Decentralized finance ecosystem. Pushback from Russia’s centralized banks has done little to stifle pro-DeFi views from people like Konstantin Klimenko.

    The product director of Sberbank’s blockchain lab Konstantin Klimenko, makes clear his beliefs in DeFi. He declared that DeFi technology will take the place of traditional banks. Klimenko detailed.

    We have set ourselves a big goal – to make the Russian DeFi ecosystem number one (decentralized finance system – IF). Our network is now operating in the format of closed beta testing. (…) From March 1, we will move to the next phase; it will no longer be beta testing, but open testing at the end of April, the platform will be fully open, and then it will be possible to make some commercial operations on it.

    Ethereum is on the way to an unprecedented price point

    Ethereum is in luck yet again. The adoption of Ethereum in any area is bound to favor the network. In terms of price performance, there is every chance that Ethereum’s native token ETH can be rewarded because of adoption.

    Presently, Ethereum’s price is still looking attractive in the market. At the time of this writing, Ethereum is one of the few alternative assets that is blinking in green. 7 days performance is positive, and ETH’s gain within that time is above 6%.

    Ethereum’s price has not yet towered $2,000. However, an upcoming Shanghai upgrade scheduled for March could do wonders for the price. ETH could go from current price levels of $1,677 to $2,000 and above.

    Technical analysts are paying attention to ETH. One of said analysts who go by the name RookieXBT thinks that this week holds many possibilities for Ethereum’s price. He observed in a tweet.

    I think Ethereum goes up this week. We got all the important earnings and macro obstacles out of the way – not much shenanigans for another couple weeks.Expecting minor outperformance relative to Bitcoin given how the pair looks.

    Der Beitrag Russia’s biggest Bank to launch DeFi plattform on Ethereum – Can it drive ETH price to $2,000? erschien zuerst auf Crypto News Flash.

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    Bitcoin to receive NFTs with this new groundbreaking project – BTC is more than digital gold https://www.crypto-news-flash.com/bitcoin-to-receive-nfts-with-this-new-groundbreaking-project-btc-is-more-than-digital-gold/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-to-receive-nfts-with-this-new-groundbreaking-project-btc-is-more-than-digital-gold Fri, 03 Feb 2023 07:26:24 +0000 https://www.crypto-news-flash.com/?p=233809 NFT token protocol Ordinals is soon to launch NFTs on the Bitcoin mainnet.  Ordinals receive massive criticism from the Bitcoin ecosystem, as many reject the vision of its creator. Ordinals, a protocol made to allow the minting of NFTs on the Bitcoin blockchain, has been making rounds since it launched on January 21st. Even if [...]

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  • NFT token protocol Ordinals is soon to launch NFTs on the Bitcoin mainnet. 
  • Ordinals receive massive criticism from the Bitcoin ecosystem, as many reject the vision of its creator.

  • Ordinals, a protocol made to allow the minting of NFTs on the Bitcoin blockchain, has been making rounds since it launched on January 21st. Even if NFTs are typically minting on other blockchains like Ethereum and Polygon, Casey Rodarmor who is behind the creation of Ordinals is bringing NCT inscriptions to the Bitcoin blockchain. While comparing to the NFTs, he refers to these artifacts to be of “higher standards”  Seeing they can’t be stored off-chain and on centralized servers with back-door keys.

    Ordinals also have a specific implementation known as Ord. Ord makes it possible for users to track the precise location of certain satoshis ( satoshi is the smallest unit there can be of Bitcoin, 1 satoshi = 0.00000001 BTC) and ordinal numbers that have been assigned by the Ordinal protocol. Individual satoshis inscribed with arbitrary content can also be created, shared, and viewed.

    With the presence of Ordinals, Satoshis can now be inscribed with a variety of content including videos, and images to be transferable in an NFT-like manner.

    Bitcoin proponents are dissatisfied with Ordinals

    As always there are two sides to the”coin”. There has been a debate on the matter which has brought about mixed signals. Many claims that the launch of Ordinals takes away from the original idea and goal of Bitcoin’s creation. To this, Ordinal’s creator insists that Bitcoin’s creation goes beyond its creator’s intentions.

    Casey Rodarmor, a former Bitcoin Core contributor spoke on the criticism he has been receiving. He claims to love the haters and explains that they conversely help more people to find out about the project as they engage more in criticizing it.

    “I think that being able to not just do NFTs on Bitcoin, but to make them far-and-away better, for both technical and social reasons, is great for Bitcoin, and will be great for adoption and goodwill, and get people into Bitcoin who like fun. We don’t have enough fun!” He says while speaking on the project.

    Ordinals itself hasn’t been free of malfunctions and implications. As more people get access to mint tons of NFT tokens on the Bitcoin network, usage has been rising, and the result is an increase in the transaction fee charges on the Bitcoin network. The transaction fees on the Bitcoin network have now reached levels that were last seen in over a year.

    Ordinals was also hit with a shocking pornographic image that was inscribed on the Bitcoin Blockchain, through the Ordinals protocol. The image has since been taken down, but stayed up for an hour before it got removed.

    Casey Rodarmor tells Cointelegraph that he’s working to ensure that images like that are not able to make their way to Ordinals website.

    Der Beitrag Bitcoin to receive NFTs with this new groundbreaking project – BTC is more than digital gold erschien zuerst auf Crypto News Flash.

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    Venom Ventures Fund ventures Asia with $5 Million Strategical Investment in the Everscale Blockchain https://www.crypto-news-flash.com/venom-ventures-fund-ventures-asia-with-5-million-strategical-investment-in-the-everscale-blockchain/?utm_source=rss&utm_medium=rss&utm_campaign=venom-ventures-fund-ventures-asia-with-5-million-strategical-investment-in-the-everscale-blockchain Wed, 01 Feb 2023 14:21:30 +0000 https://www.crypto-news-flash.com/?p=233502 Everscale blockchain received a $5 million strategic investment from Venom Ventures Fund, the new Abu Dhabi-based $1 billion venture fund. The investment will be made in stages and will be used to fund the expansion of Everscale’s development team and projects. The Abu Dhabi-based venture fund has entered a strategic partnership with the load-intensive blockchain [...]

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  • Everscale blockchain received a $5 million strategic investment from Venom Ventures Fund, the new Abu Dhabi-based $1 billion venture fund.
  • The investment will be made in stages and will be used to fund the expansion of Everscale’s development team and projects.

  • The Abu Dhabi-based venture fund has entered a strategic partnership with the load-intensive blockchain project to expand its operations within Asia. Venom Venture Fund (VVF), Which will receive the  $5 million investment fund, made it clear in a statement that this is a strategic investment aimed at the technological development of projects.

    Peter Knez, Chairman of Venom Ventures Funds, disclosed that VVF would be launching the Venom blockchain soon and Everscale would be a potential scaling solution.

    Everscale is a multi-level blockchain power house ideal for hosting high-scale web3 and load-intensive projects. VVF is particularly interested in the “infinite sharding mechanism” used by Everscale. The mechanism allows the Everscale network to adapt to any workload without affecting throughput and processing fees.

    Giving his statement on the investment, Everscale Foundation Board Member Moon Young Lee explains that the move was a major milestone for both parties.

    Lee believes that Everscale has been grossly underappreciated in the market despite its underlying technology. But a partnership like this would enable Everscale to prove itself. Everscale will function as an experimental network. Here, updates and complex technical solutions will be tested before uploading to Venom’s blockchain.

    According to Everscale, the additional funding from Venom Ventures Fund will be used to grow the development staff and initiatives at Everscale. The investment will also allow both companies to work towards a common goal.

    Together, the teams at Venom and Everscale will improve the blockchain’s ecosystem and core development. This is aimed at making the adoption of the technology one step closer to real-world business use cases.

    Some projects have successfully kicked off and are on the way. They include platforms for tokenizing digital assets, a thorough framework for CBDCs, and stablecoins. Other payment mechanisms using crypto to fiat gateways are also included.

    Investment funds will be released in stages

    Per the progress and cooperation of the two companies, the strategic investment will be rolled out in stages. The investment company intends to cover every stage of investing. This includes seed, to a series of A, B, C, D, and the IPO, according to Peter Knez, chairman of Venom Ventures Fund.

    Venom Ventures fund recently raised $1 billion for investments in Web3 apps. This was done with the goal of promoting the growth of the Web3 industry in the United Arab Emirates (UAE). Its strategic partnership with Everscale is one of the first steps toward that goal.

    Venom Ventures Fund is a product of a partnership between Venom Foundation, a regulated Layer 1 blockchain, and Iceberg Capital, an investment company.

    Venom, intended to function as a network of blockchains, has no restrictions on the economy type. The number of additional auxiliary networks that can be added at Layer 2 level is also not restricted. Everscale’s introduction can now achieve mass adoption for the Venom blockchain.

    Der Beitrag Venom Ventures Fund ventures Asia with $5 Million Strategical Investment in the Everscale Blockchain erschien zuerst auf Crypto News Flash.

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    BREAKING: $10T BlackRock, $1.55T Goldman Sachs to widely expand Bitcoin, ETH and crypto offerings https://www.crypto-news-flash.com/breaking-10t-blackrock-1-55t-goldman-sachs-to-widely-expand-bitcoin-eth-and-crypto-offerings/?utm_source=rss&utm_medium=rss&utm_campaign=breaking-10t-blackrock-1-55t-goldman-sachs-to-widely-expand-bitcoin-eth-and-crypto-offerings Tue, 31 Jan 2023 18:36:35 +0000 https://www.crypto-news-flash.com/?p=233205 BlackRock continues in-house projects in the crypto industry via blockchain technology. Goldman Sachs offers its customers tokenization options. The crypto industry has suffered a lot of criticism in its 13-year history. Yet, more and more individuals, institutions, and governments keep getting involved with the highly volatile industry. Despite the scary fall of Sam Bankman-Fried and [...]

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  • BlackRock continues in-house projects in the crypto industry via blockchain technology.
  • Goldman Sachs offers its customers tokenization options.

  • The crypto industry has suffered a lot of criticism in its 13-year history. Yet, more and more individuals, institutions, and governments keep getting involved with the highly volatile industry.

    Despite the scary fall of Sam Bankman-Fried and his FTX empire, gigantic financial institutions are entering the crypto market.

    BlackRock, the biggest custodian bank in the world, and other titans of finance like Goldman Sachs are looking to grow rather than contract in the cryptocurrency space.

    According to a report by Bloomberg, these financial institutions are pushing ahead with projects in the blockchain space. They’re expanding offerings in tokenization and are actively looking into crypto custody.

    A person familiar with the situation at BlackRock mentioned that teams at BlackRock will continue to investigate the use of digital assets in capital-markets offerings. BlackRock is also focusing on Stablecoins, permission (or private) blockchain, tokenization, and crypto assets.

    BlackRock also partnered with Coinbase Global Inc. in 2022. The duo signed an agreement to make it simpler for institutional investors to handle and trade Bitcoin, Ethereum, and other cryptocurrencies.

    Per Bloomberg, a BlackRock official declined to comment on the company’s continued efforts.

    Goldman Sachs is also not far behind in its expansion plans. The $1.55 trillion financial institution also unveiled its crypto assets platform in November, last year. It’s their expectation that customers will utilize the technology to create financial instruments from digital assets, such as real estate.

    Goldman Sachs has also been involved in other activities within the crypto industry. Last year, Goldman Sachs partnered with Societe Generale SA and Banco Santander SA to issue a digital bond for the European Investment Bank using blockchain technology.

    According to Mathew McDermott, Goldman’s global head of digital assets: “Using this technology allows us to transform the risk profile of a trade,” he said.

    It’s not a pipe dream, there is real value.

    In addition, seven traders work for Goldman Sach to deal in cash-settled cryptocurrency contracts for its customers.

    The cryptocurrency desk was reopened during the 2021 cryptocurrency rally. It enables customers like investment funds and trading companies to purchase and sell cryptocurrency futures, non-deliverable forwards, and cash-settled options. It also gives them the option to go short or long on some exchange-traded products via the prime business.

    Will the crypto industry see more investments?

    The crypto industry has changed the narrative of finance through blockchain, smart contracts, Dapps, and non-fungible tokens.

    The underlying technology of cryptocurrency, blockchain technology, also has tremendous use cases that exceed the financial industry. These use cases have been responsible for the explosion in crypto adoption.

    The current applications of blockchain technology and smart contracts suggest that more investments are incoming. Companies and industries looking to streamline processes, and increase security, speed, and transparency will have little to no option from blockchain in the future.

    Der Beitrag BREAKING: $10T BlackRock, $1.55T Goldman Sachs to widely expand Bitcoin, ETH and crypto offerings erschien zuerst auf Crypto News Flash.

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    Is the current Bitcoin and Ethereum pump sustainable? Experts weigh in https://www.crypto-news-flash.com/is-the-current-bitcoin-and-ethereum-pump-sustainable-experts-weigh-in/?utm_source=rss&utm_medium=rss&utm_campaign=is-the-current-bitcoin-and-ethereum-pump-sustainable-experts-weigh-in Fri, 27 Jan 2023 17:21:42 +0000 https://www.crypto-news-flash.com/?p=232260 Analysts weigh in on Bitcoin and Ethereum potential long-term performance following recent decline.  Bitcoin and Ethereum dip from new ATH after recent market selloff.  Following the recent market selloff, two prominent personalities in the cryptocurrency community have given insights into where they believe the market is headed. For Ethereum (ETH), current prices are primed to [...]

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  • Analysts weigh in on Bitcoin and Ethereum potential long-term performance following recent decline. 
  • Bitcoin and Ethereum dip from new ATH after recent market selloff. 

  • Following the recent market selloff, two prominent personalities in the cryptocurrency community have given insights into where they believe the market is headed.

    For Ethereum (ETH), current prices are primed to potentially surge and are likely to be sustained, after the commencement of the upcoming Ethereum Shanghai upgrade scheduled for March, according to Weiss Crypto ratings.

    Bitcoin is also similarly expected to increase in the weeks ahead. Cryptocurrency analyst Kaleo is extremely bullish and has taken to Twitter to express his positive sentiments.

    I don’t think this rally leads to new ATHs (more likely top out and distribute in the $40K – $45K range for a couple of months before retracing back to the mid to high $20Ks later this year), but I really think it’s about to accelerate rapidly.”ded.

    Mirroring his sentiments, Ki Young Ju, the CEO of Cryptoquant claims that Bitcoin has entered an early bullish phase.

    He further stated that the Market Capitalization versus Realized Capitalization (MVRV) on-chain indicator shows that investors are still underwater, and very unlikely to sell their Bitcoins. Any recorded sale at this time from investors might be due to bankruptcy or coins that have been seized by the government, he remarked. He explained.

    Of course Bitcoin still has contagion & macro risks, and we may see more bankruptcies, M&As, and capitulations in the next few months. But, from an on-chain perspective, $BTC whales haven’t moved Bitcoins despite the recent price surge. The market might have yet to reach its target.

    Crypto market turns red, causing Bitcoin and Ethereum to shed prices

    Bitcoin and Ethereum, despite having a positive run for the most part of January 2023, have dipped below newly attained price levels following a recent market sell-off. A massive crypto sell-off took place in the cryptocurrency market this week, with over $27 billion exiting the market within the last 24hrs.

    The selloff was reflected in the market, with Bitcoin and the majority of altcoins slipping below newly attained price levels. Bitcoin has since lost stamina, to now trade at a press time price of $22,994.

    Bitcoin has also lost $5.33 billion in market cap. Going from $436.03 billion to $441.36 billion. The decline has also interrupted Bitcoin’s attempt at testing $24,000, as the asset had just hit an ATH of $23,722 before the selloff.

    Just like Bitcoin, Ethereum (ETH) had shaved off some of its price value. After managing to clutch $1,632 for the first time since November 2022, ETH’s market cap lost almost 5% in value. ETH is trading at $1,606 at the time of this report.

    Der Beitrag Is the current Bitcoin and Ethereum pump sustainable? Experts weigh in erschien zuerst auf Crypto News Flash.

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    Bitcoin is a ‘generational buying opportunity’ as this onchain metrics flash – Analysts take https://www.crypto-news-flash.com/bitcoin-is-a-generational-buying-opportunity-as-this-onchain-metrics-flash-analysts-take/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-is-a-generational-buying-opportunity-as-this-onchain-metrics-flash-analysts-take Wed, 25 Jan 2023 13:42:42 +0000 https://www.crypto-news-flash.com/?p=232073 Key on-chain metrics show Bitcoin rally is far from over,  BTC could rally up to hundreds of thousands of dollars in coming years. Bitcoin recovered up to 40 percent in Jan and currently lingers around the $23k resistance zone. A crypto technical analyst, “Game of Trades,” has highlighted six strong on-chain metrics to keep Bitcoin’s [...]

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  • Key on-chain metrics show Bitcoin rally is far from over,  BTC could rally up to hundreds of thousands of dollars in coming years.
  • Bitcoin recovered up to 40 percent in Jan and currently lingers around the $23k resistance zone.

  • A crypto technical analyst, “Game of Trades,” has highlighted six strong on-chain metrics to keep Bitcoin’s hopes alive. According to the analyst, they signal a “generational buying opportunity” for market players.

    This update comes shortly after Bitcoin witnessed the largest liquidation of short positions in 24 hours since August 2021.

    Accumulation trend score, Entry-adjusted dormancy flow, Reserve risk, Realized price, MVRV Z-score, and Puell multiple were all featured in the metrics analyst GoT broke.

    Bitcoin’s accumulation trend score shows that large institutions and whales have been deeply accumulating Bitcoin since the FTX saga. The last time deep accumulations like this happened during the 2018 and 2020 bottoms.

    The metrics also show that investors’ confidence level is at an all-time high. In his own words, “at levels never seen before in Bitcoin’s entire history.” This is captured in the reverse risk metric that assesses the confidence of long-term holders in relation to Bitcoin’s current price.

    Analysts like Gaah also believe that the current Bitcoin setup shows a strong short and long-term buying opportunity. Bitcoin entered a ranging market on Jan 20 and has lingered on around a major support at $22,300 and a resistance zone at $23,400.

    Ranging markets usually denote an indecisive market and traders are often cautious to wait for the price to break out. This is either through a major support zone or a resistance zone to decide where the market will head next.

    Around $20k was a major resistance zone Bitcoin had to convert to support to show bullish signs. It crossed that on Jan 20 and converted the $20k range to its bottom. The next major point according to Analyst Gaah is the $24k zone. Should Bitcoin break out through the $23k zone and convert the $24k zone to another floor, a rally is inevitable.

    Bitcoin’s price performance

    Bitcoin suffered a terrible decline in 2022. The asset declined by a whopping 60 percent. As a result, Bitcoin lost billions in its global market capitalization since hitting new price levels in 2021.

    Cryptocurrency has been showing signs of recovery amidst all the crashes and saga that saturated the crypto market in 2022. Around 37-40 percent is the recorded range Bitcoin has recovered in Jan 2023 alone, showing strong bullish signs.

    Crypto proponents like Tim Draper also hold very optimistic views on Bitcoin’s price performance in 2023. The billionaire and venture capitalist believe that Bitcoin will cross the $250,000 Mark before the end of 2023.

    One of his reasons comes from a strong belief that more women will be involved in crypto transactions since 80 percent of women control retail spending and only 1 out 7 wallets are currently held by women.

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    Chainlink: Popular decentralized gaming platform integrates VRF feature on Polygon and BNB chain https://www.crypto-news-flash.com/chainlink-popular-decentralized-gaming-platform-integrates-vrf-feature-on-polygon-and-bnb-chain/?utm_source=rss&utm_medium=rss&utm_campaign=chainlink-popular-decentralized-gaming-platform-integrates-vrf-feature-on-polygon-and-bnb-chain Tue, 24 Jan 2023 17:34:24 +0000 https://www.crypto-news-flash.com/?p=231788 ZKasino strengthens users’ trust by integrating Chainlink’s VRF. ZKasino joins the list of web 3 projects integrating the dedicated and tamper-proof services of Chainlink. Chainlink announced through their official Twitter handle on Monday that ZKasino, a fully decentralized betting platform, has integrated its Verifiable Random Function (VRF) on the BNBChain and Polygon mainnet. ZKasino went [...]

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  • ZKasino strengthens users’ trust by integrating Chainlink’s VRF.
  • ZKasino joins the list of web 3 projects integrating the dedicated and tamper-proof services of Chainlink.

  • Chainlink announced through their official Twitter handle on Monday that ZKasino, a fully decentralized betting platform, has integrated its Verifiable Random Function (VRF) on the BNBChain and Polygon mainnet.

    ZKasino went ahead to confirm the news on its official handle, acknowledging the exciting progress they are making in its dedicated fight to correct major flaws in traditional betting platforms.

    ZKasino, a brainchild of ZigZag Labs, is a decentralized and scalable gaming platform that leverages the use of smart contracts and layer-2 solutions to provide a more secure and fair ecosystem where gamers can participate freely without the fear of a rigged system.

    The introduction of Chainlink VRF, according to Zkasino, is to further remove the monopoly and possibility of manipulation characterized by centralized systems in various traditional betting games. Chainlink VRF marks a crucial step for ZKasino’s gaming platform along its roadmap considering that the integrity of “randomness” is a critical factor in the success of any game of possibilities.

    It is essential for the openness and fairness of ZKasino’s games that game outcomes are determined in a verifiably random manner, hence the move to integrate Chainlink’s VRF.

    As a provably fair and verifiable random number generator (RNG), Chainlink Verifiable Random Function (VRF) enables smart contracts to access random values without sacrificing security or usability. ZKasino’s integration now means Zkasino can provide its users with provably fair outcomes that are verifiable on-chain and tamper-proof.

    Meanwhile, Chainlink is also scoring social points in the market at this time. In a recent tweet from Santiment, social volume for Chainlink, particularly on Twitter, has skyrocketed. This is due to rising interest in Chainlink from users. Santiment now predicts that Link’s price, which is currently trading at $7, might have a bullish reaction as a result. 

    Decentralized gaming on the rise

    According to Statista, the total number of gamers worldwide stood at 3.03 billion as of 2022, showing a massive market available to the gaming industry.

    Experts believe that the gaming industry will be one of the strongest and fastest routes for blockchain adoption considering the numerous advantages blockchain enables over traditional gaming platforms.

    The world witnessed a magnanimous proof of concept with Axie infinity’s play-to-earn model and NFTs that attracted millions of users in 2017 through 2021 and over a billion dollars in revenue.

    This paved the way for other decentralized gaming projects to spring up, creating multiple blockchain alternatives for popular centralized web 2 games.

    Der Beitrag Chainlink: Popular decentralized gaming platform integrates VRF feature on Polygon and BNB chain erschien zuerst auf Crypto News Flash.

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    Chinese blockchain giant to become new SWIFT and Stellar Lumens competitor for CBCD’s and stablecoins https://www.crypto-news-flash.com/chinese-blockchain-giant-to-become-new-swift-and-stellar-lumens-competitor-for-cbcds-and-stablecoins/?utm_source=rss&utm_medium=rss&utm_campaign=chinese-blockchain-giant-to-become-new-swift-and-stellar-lumens-competitor-for-cbcds-and-stablecoins Mon, 23 Jan 2023 15:49:50 +0000 https://www.crypto-news-flash.com/?p=231488 UDPN aims to serve CBDCs and Stablecoins through the incorporation of scalability and interoperability.  UDPN’s whitepaper highlights some crucial features and solutions ahead of its commercialization stage.  As demand for CBDCs and stablecoins rises, Stellar Lumens might have a promising competitor, vying for its customers’ attention. The Universal Digital Payment Network (UDPN), was just unveiled [...]

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  • UDPN aims to serve CBDCs and Stablecoins through the incorporation of scalability and interoperability. 
  • UDPN’s whitepaper highlights some crucial features and solutions ahead of its commercialization stage. 

  • As demand for CBDCs and stablecoins rises, Stellar Lumens might have a promising competitor, vying for its customers’ attention.

    The Universal Digital Payment Network (UDPN), was just unveiled in Switzerland, at the recently held World Economic Forum (WEF) 2023 in Davos.

    UDPN’s white paper describes the ecosystem as a distributed ledger technology (DLT). UDPN aims to do for CBDCs and Stablecoins, what SWIFT is doing for financial firms as a messaging system. The network mirrors SWIFT, as an option for fixing the barriers between stablecoins and central bank digital currencies (CBDCs).

    UDPN is also backed by Red Date Technology, one of Hong Kong’s most valuable Blockchain companies. The Red Date Technology centers its activists around next-generation Public IT System infrastructures. Red Date Technology has also been working to develop UDPN for over a year.

    UDPN is also affiliated with TOKO and GTF technologies. Both platforms have also been contributing to accelerating UDPN’s network growth.

    The UDPN whitepaper discloses many observations of the current state of the CBDC market. Even as more countries move towards creating their own CBDCs and stablecoins, UDPN believes that the lack of an official messaging platform across the industry could slow down adoption.

    In the whitepaper, the necessity for scalability and universal interoperability is also emphasized. Both features will foster the sustainable advancement of stablecoins and CBDCs. The whitepaper added;

    The UDPN addresses these issues by providing a global payment messaging network to support stablecoins and CBDCs across decentralised and centralised currency systems. The UDPN will provide a shared, decentralised network and associated standards; the messaging backbone for efficient and seamless cross-border digital currency payments across protocols and systems.

    UDPN presents key solutions for CBDCs and Stablecoins

    Aside from changing transactions between digital account systems, UDPN will also enable traditional messaging systems. Commercial banks will have quick access to partake in the decentralized economy. UDPN will enable this,  by providing capital pools and building relationships with local central banks to banks, to help them offer cross-border transactions.

    Other noteworthy solutions were listed in the whitepaper, along with some regulatory pathways the network is taking, so as to maintain order and avoid sanctions.

    The network will support only CBDCs and regulated fiat-backed stablecoin currency systems as payment methods. No unregulated public-chain crypto- currencies, such as Bitcoin, will be accepted. The addition of any new currency is subject to a vote by the UDPN Alliance members as part of the network’s decen- tralised governance approach.

    The whitepaper explained, adding that there will be no provision of custodial services.

    The beta version of UDPN already went live in the last quarter of 2022. Pilot commercialization has now been scheduled for the second half of 2023.

    Once launched, UDPN will have 8 alliance members as its main group of founders. It will later move to 16 and finally 24. Strategy, governance, and roadmap will be handled by the alliance members after voting is concluded.

    Der Beitrag Chinese blockchain giant to become new SWIFT and Stellar Lumens competitor for CBCD’s and stablecoins erschien zuerst auf Crypto News Flash.

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    Polygon to go big with network upgrade and massive partnerships with Nike, Starbucks and Meta https://www.crypto-news-flash.com/polygon-to-go-big-with-network-upgrade-and-massive-partnerships-with-nike-starbucks-and-meta/?utm_source=rss&utm_medium=rss&utm_campaign=polygon-to-go-big-with-network-upgrade-and-massive-partnerships-with-nike-starbucks-and-meta Sat, 21 Jan 2023 07:27:05 +0000 https://www.crypto-news-flash.com/?p=231080 Polygon’s recent hard fork opens doors for Ethereum and plays a key role in Ethereum’s journey to the top.  Polygon works with some of the industry’s leading companies, citing an increase in demand from leading industry players. With multiple partnerships and collaborations with globally recognized firms, and a recent network upgrade poised to aid scalability, [...]

    Der Beitrag Polygon to go big with network upgrade and massive partnerships with Nike, Starbucks and Meta erschien zuerst auf Crypto News Flash.

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  • Polygon’s recent hard fork opens doors for Ethereum and plays a key role in Ethereum’s journey to the top. 
  • Polygon works with some of the industry’s leading companies, citing an increase in demand from leading industry players.

  • With multiple partnerships and collaborations with globally recognized firms, and a recent network upgrade poised to aid scalability, Polygon’s future is as bright as ever.

    The layer-2 scaling solution is Ethereum’s better half, designed to run alongside the Ethereum blockchain. Polygon is essential for Ethereum to maintain low fee charges and accelerate the network’s transaction speed.

    The network upgrade to Polygon PoS, has sent the value of polygon to astronomical levels, by addressing some of the network’s most pressing issues and limitations with two major proposals.

    After the upgrade was carried out on January 17th, 2023, there was a change in the switch BaseFeeChangeDenominator value, which went from 8 to 16. The upgrade was significant, as the switch in base fee led to the increased transaction cost that precedes the spike in network usage.

    The new mechanism will now allow network users to carry out more activities with lower gas prices. This will bring the base fee (the minimum fee required for adding a transaction in a block) to low levels.

    Network developers revealed that the recent Polygon hard fork is expected to fix the change in current gas prices, and take it down from 12.5 percent to as low as 6.25 percent.

    Additionally, the second proposal was meant to address the time period taken for transaction validation. The “sprint length”; the time taken by a block producer to produce a block, was reduced from 64 to 16 blocks (128 seconds to 32 seconds).

    The reduction will now allow block producers to carry out block production within a much shorter time frame.

    With these two changes being made to the polygon network, adoption across validators and other network users is geared to skyrocket with time.

    Meanwhile, Polygon’s native token MATIC is already starting to benefit from the network hard fork.

    The hard fork notably prompted a 20% price pump. Magic’s press time price is also reflecting a sustained bullish momentum from the week before. Prices are at $0.96, while MATIC retains gains going up to 6%, from the last 7 days.

    Polygon is on its way to becoming a household name with disruptive partnerships

    Polygon is also building network strength with some of the biggest names in different industries. In November 2022, the apparel giant Nike launched its Web3 platform Swoosh. Swoosh is bull to integrate with Polygon and give its users access to Polygon-based NFT products.

    Other notable companies like Meta, Starbucks, Reddit, and DraftKings have selected Polygon as their selected Blockchain, and have continued to launch several projects on the network.

    Der Beitrag Polygon to go big with network upgrade and massive partnerships with Nike, Starbucks and Meta erschien zuerst auf Crypto News Flash.

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