Nevertheless, according to Cryptomaniaks.com, it is not best to jump into any Bitcoin investment or gambling without prior knowledge. Furthermore, It would help if you learned about the gain and losses before considering playing in a Bitcoin casino. However, you do not need to avoid Bitcoin casinos, but you should know that Bitcoin gambling can make you run into losing. Therefore, read through this guide as we discuss the risks of using a Bitcoin casino.

What Is Bitcoin

Bitcoin was introduced in 2009 by Satoshi Nakamoto. Since the introduction of bitcoin, it has become a significant trading currency online. However, most people generally accept BTC for the exchange of services only. One of the reasons why the inventor created bitcoin is to make it decentralized, which means it won’t have central control like the fiat currency.

The Risk Associated With Using A Bitcoin Casino

Although using a Bitcoin casino has many advantages, there are also some significant risks. Some of the dangers punters should look at before employing a Bitcoin casino include:

Institutional And Political Pressure

For some time, regulatory bodies and governments have reviewed crypto calmly in its few years of existence because society barely uses the coins. Then Bitcoin grew big, and the currency’s value increased many times. Suddenly, these government bodies began to reckon with this powerful societal force.

As a result, people begin to fear cryptocurrency because of government pressure. Early investors found out their capital started depreciating quickly. So governments tried to ban crypto in their region and country, which led to the volatility among many cryptos.

Volatility Factor

When you purchase crypto, you may want to buy a product or service with the coin. The problem is that cryptos values are not stable; they fluctuate. Bitcoin casino users may experience the rise and fall of crypto whenever they play casino games or want to withdraw their winnings.

All assets can be volatile, but cryptos are the most volatile assets you can own. As a result, crypto casino players who purchase the coin can experience the depreciation of their currencies. Of course, Crypto can also rise, but it is a problem for people who want to replace fiat currency with crypto.

For instance, imagine a business that accepts Bitcoin as one of the payment methods. Let’s say Bitcoin is $80000 on the day they receive payment. Then, a day later, Btc dropped to $6000 because of bad news. So that business suddenly loses $2000, which is a big problem.

Less Government Supervision

With no government regulation or license, players won’t have a helping hand if they encounter problems in a Bitcoin casino. That doesn’t mean Bitcoin casinos aren’t licensed; most have a license. However, there are many unlicensed Bitcoin casinos in operation. Not having a claim doesn’t mean a Bitcoin casino is fraudulent, but if you regret it, they don’t have permission.

Inability To Take Back

Once you transfer crypto from your wallet, you can’t get it back. If you send crypto to the wrong address, it is doubtful that you can recover your money, unlike other methods of sending funds like credit cards or bank transfers.

Lack Of Familiarity

Although the crypto market has experienced tremendous growth, most individuals have not performed transactions or owned a cryptocurrency. As much as it is not difficult to use, many people feel intimidated by the process of using Bitcoin.

Probe Against Cryptocurrency

As we have explained, many people have problems with crypto. Whenever you hear complaints about crypto, people often have the same complaints. Let us discuss some of these complaints one after the other.

Fraud Claims

Naysayers compare crypto to a Ponzi scheme when the creator of an asset never fulfills his promise to an investor who buys the assets. Instead, they pay other investors with some investment money while they pocket considerable capital. This claim implies that the investor usually risks losing his money.

Before a Crypto initiative begins, it starts with an initial coin distribution. The idea is that people who purchase these coins hope the coin will one day become valuable. Unfortunately, this is without putting much hope that the crypto will experience a tremendous increase in value.

Although there are people who will defraud individuals with fake cryptocurrency projects, this person will promise a good result, but they don’t fulfill it. Because crypto is not regulated, people who get scammed cannot do much about it.

But there are several ways to know if a coin is legitimate or not. First, check the website of those in charge of the currency, and look for the white paper and bad grammar of the crypto. These signs will help you look for a coin with good leadership, excellent technology, and an idea that will stand out.

The Crypto Bubble

This option affects people who see cryptocurrency as a means of investment. For example, some investment experts know the crypto market as a bubble. A bubble occurs when individuals buy assets because they see others buying without prior knowledge of the market.

So many people jump into the crypto market without knowing how cryptocurrency works. Another bubble characteristic is that some of the assets don’t have real value, but it does not apply to cryptocurrency.

Hacking Concerns

There have been many cases of people losing cryptocurrency because hackers could hack into their accounts. These incidents usually occur when people keep their Bitcoins in coin exchanges. Crypto exchanges sell and buy different cryptocurrencies or exchange Bitcoins with fiat currencies.

Many exchanges do not have a strong security network to secure people’s coins. These exchanges offer custodial services like banks, but they haven’t mastered it. Because of these reasons, you should not keep your coins with this exchange.

The best way of keeping your Bitcoin safe is to store it in an offline wallet. This method means only you have the keys to lock and unlock your digital assets. Additionally, it is advisable to use an exchange only if you want to buy or sell coins

Der Beitrag What Are The Risks Associated With Using A Crypto Casino? erschien zuerst auf Crypto News Flash.

There are many ways to be rich, and venturing into a billion-dollar industry is certainly one of them. The gambling industry has been growing constantly since its inception, and the sky seems to be the limit. More jurisdictions are slowly warming up to it, thus, creating a bigger market. It has also become quite diverse because of the advent of online casinos that have made it so convenient for gamers to enjoy their favourite games.

It takes a lot of effort to start a casino business and rise to the top. These businesses engage in aggressive marketing techniques to try and woo clients to them. They offer fantastic promotions like free spins no deposit UK, welcome bonuses, and cashbacks that are aimed at attracting new customers and keeping the existing ones. Free spins no deposit bonuses are considered to mean a highly reputable casino that provides it to its customers. Only a good casino can attract new customers in this way. And for players, it seems attractive as well because these bonuses give an opportunity to play with no investments and try favourite slots for free.

It is just the same as other businesses, but you certainly need to work harder and smarter to prosper. There are specific tips that will be beneficial to you if you want to go into this line.

Online vs. Land Casinos

Casino business can exist in two forms, online or physical, and the first step is to decide the one that you want to venture in. It is possible to go into both by creating a land-based casino with an online presence, but this will require more resources. What are the differences between the two when starting:

These are the main differences between the two. Online casinos require less cash to start because all you need is a website and a physical address to manage the servers and a few employees. Because of this, it is also easier and faster to start. Land-based casinos, on the other hand, will require you to find a bigger space, buy equipment, hire many employees, build all the necessary infrastructure, and so much more.

Nevertheless, this business is more traditional, so it is easier to get funding compared to online casinos that have only recently come into the limelight. Once you have decided, you can proceed to the next step.

Creating a Proper Business Plan a Budget

Just like any other business, you must have a proper plan that will detail your projected income, your growth plan, and the budget. These are the documents that will assist you in getting investors to fund your business. They will serve as a reference point for you once the ball is moving.

Get the Necessary Cash

With a good plan, it will be easy to estimate the amount of money you need to start the business. Do not start anything until you are sure that you have the initial capital required to start the business.

Understand the Market

Both online and land-based casinos must have a target market. For land casinos, it is greatly determined by the location. You should understand the culture of the people and the games that they are likely to appreciate. For online casinos, it will depend on how far the casino will be accessible. This will greatly be determined by the gambling laws.

Obtain All the Necessary Licenses and Permissions

It is impossible to start and run any business before you acquire the necessary licenses and registrations. You may need to involve a finance or legal expert to advise you on all the required permissions and how to obtain them. It is important to get respectable licenses since they have a direct impact on your clients. Gamblers usually trust online casinos with licenses from reputable bodies like the Malta Gambling Authority and UK Gambling Commission compared to the rest. The licenses will also allow you to legally operate in most jurisdictions.

Choose the Best Software Providers and Suppliers

This is a critical part since the game variety will be the factor that will distinguish you from your competitors. You should stick to reliable software providers that offer an extensive variety of high-quality games. They include the following:

• NetEnt;
• Microgaming;
• Playtech;
• Red Tiger Gaming;
• Evolution Gaming;
• Play’n Go;
• Quickspin.

The games from these providers may be costlier compared to other unknown providers, but the quality and diversity will be worth it. Also, they will offer newer games regularly and keep your clients excited. Furthermore, gamblers tend to trust the fairness of the games, and it will increase their trustworthiness.

Focus on the Latest Kinds of Games

It is important to ensure that you offer the epitome of gambling entertainment in your casino. For instance, gambling enthusiasts are keen on advanced games like live dealer games; hence, their presence in your casino will give you an edge over your competitors. You can also try to incorporate Virtual Reality (VR) slots and casino games. Players also trust casinos with such advanced games.

Create a Spectacular Website or Magnificent Land Casino

You should not try to save anything when it comes to this. Players easily fall in love with stylish casinos with amazing features. Your website should be simple yet highly aesthetic, easy to navigate, stable, and consistent. You must also incorporate advanced features like fully-functional Search features and Sort and Filter options that will make it easier for gamers to find their preferred games. For land-based casinos, it is important to invest in interior design and ensure that the gaming floor looks spectacular. The first impression of players can make or break your business.

Avail the Most Popular Payment Options

Gamblers must be able to carry out transactions with the casino conveniently. It is important to offer a range of payment options to facilitate this. The methods that should never miss include:

• Visa;
• MasterCard;
• Paysafe Card;
• Neteller;
• Skrill;
• Bank Transfers.

Also, you should include cryptocurrencies, which have become quite popular in the gambling realm. Players in land casinos should also have diverse options for carrying out transactions.

Ensure that Security Is Guaranteed

No business on earth can prosper without security. For brick-and-mortar casinos, you must choose a secure location where your clients will feel safe. The casino must invest in getting the right security personnel plus other things like CCTV that will help to secure the facility.

Online casinos, on the other hand, must get state-of-the-art encryptions to secure all transactions that take place. They must also get firewalls and a good privacy policy that will ensure that clients’ information is protected from unprofessional use.

Train the Customer Care Agents

Your customer care agents must undergo a rigorous training program, which will ensure that they are familiar with all the procedures of the casino. You can run tests to ascertain this. The casino should also have a FAQ section where players can find solutions to their queries. The most preferred mode of communication is live chat, so you should invest in it. The customer care team form a link between you and your clientele, so you should never compromise on it.

Market Aggressively

Once your casino is up and running, you will not have a choice but to market it. You can read about effective techniques that you can use. The marketing aspect should also feature in the initial budget since it needs to be very intensive. The most common methods that are used nowadays include affiliate marketing, social media marketing, and the use of lucrative bonuses and promotions with favourable terms and conditions.

Summarising

All these must be used at the initial stages since they will increase the probability of your first customers becoming ambassadors of your business. If they are impressed, they will pass the word to a friend, and your business will grow. Also, do not forget to incorporate the traditional forms of marketing. Land casinos can still host big opening parties and invite celebrities, causing a spectacle that will promote the casino. It can also continue to offer free food and drinks to its first few customers to promote the business.

Finally, you must keep good records and documentation for the sake of audits and accounting. Your operating books should also be kept for the period specified by the law to prevent any issues. This will also help you to periodically monitor and evaluate your business and add or remove aspects that are not adding value to it. Not everything that you put in place will work, so you must be willing to change, adapt, and conform to the most effective ways of doing things.

These strong tips will assist you in starting a casino business that will quickly become successful. You should try to follow each of them and make consistent efforts aimed at growing the business. Also, be willing to listen and learn from others in the field since they will provide great insights on how to move forward.

Der Beitrag Twelve Tips for Starting Own Casino Business erschien zuerst auf Crypto News Flash.

The so-called utility fork of the XRP Ledger, Flare Networks, continues to expand and so does its first DeFi ecosystem, Flare Finance. The platform will offer its users a range of decentralized finance products and has piqued the interest of the crypto community.

Following the mainnet launch, holders of Flare Networks’ FLR token will be able to receive an airdrop of the DFLR token. In response to a user’s question, the exchange CoinSpot announced via Twitter that they “will likely support airdrop of the FLR token”.

Although they stated that they do not have details, users will be informed on the platform. In response to the post, the Flare Finance team made themselves available to CoinSpot to assist with possible integration.

CoinSpot is one of the largest players in Australia. Through its platform, users can buy, sell, and use the exchange service for Bitcoin and 250 other supported cryptocurrencies. The platform is characterized by affordable fees and easy verification.

For its part, the Flare Finance project seems to be on the right track. After making a relaunch of its Coston (v2) testnet a few days ago, the Flare Finance team announced the start of its beta program. Products for lending, yield farming, among others, will be tested soon.

Hi,
It is likely that CoinSpot will support the following airdrop.

While we do not currently have the specifics users will be kept updated via banners on our platform. ?

— CoinSpot (@coinspotau) April 13, 2021

FLR rises along with XRP

Meanwhile, XRP holders who participated in the snapshot to receive the FLR token airdrop celebrate the current state of the market. As indicated by trader “Credible Crypto”, XRP and FLR are in a massive uptrend. Therefore, investors who receive this token will have a double benefit.

It should be noted that the trader points out the performance of the IOU, an instrument created by the exchange platform to allow investors to trade FLR prior to its launch. These products have no affiliation with Flare Networks.

The FLR token is expected to be delivered to beneficiaries with the launch of the Flare Networks mainnet, targeted for the second quarter of the current year. Credible Crypto has also stated that the price of FLR could be negatively impacted once the first phase of the airdrop is completed which will deliver only 15% of the token to investors.

The best thing about this $XRP pump is that $FLR is moving right along with it. $XRP holders who held for the snapshot are going to get a 1:1 airdrop of FLR. $XRP holders are twice as rich as they expected to be ??? https://t.co/fl5kk42dCi

— Credible Crypto (@CredibleCrypto) April 13, 2021

Der Beitrag Airdrop of XRP ledger-based Flare Finance could be supported by major exchange erschien zuerst auf Crypto News Flash.

On April 8 this year, VeChain Foundation announced a partnership with Salesforce to test, trial, and build applications on the VeChainThor blockchain. Popular YouTuber Ben “BitBoy” Armstrong claimed in a recent video that it could be one of the most important in the entire crypto industry.

As Armstrong indicated, Salesforce is one of the largest global Customer Relationship Management (CRM) software company worldwide. Via the cooperation with VeChain, the software company will create a link between multiple business sectors.

According to Armstrong, Salesforce works with many major companies in the traditional market. Due to the features and multiple use cases that can be developed on VeChain’s platform, the YouTuber believes that this partnership was the next logical step for the blockchain company. Armstrong stated:

(…) if you talk about supply chain tracking, the next company integration will be into tracking data system, because where is that data going to go? It’s going into the system and get integrated. It’s going to be massive. They are official partners. This is one of the biggest partnerships in crypto and I can tell you that VeChain has already got a lot and it’s going to keep going for sure, I believe so.

Accordingly, BitBoy expects the cooperation to positively impact the price of VeChain’s native token, VET. Armstrong disclosed that he has increased his exposure to the token by 4x which, at the time of publication, trades at $0.17 with a 49% increase in one week and a 26% increase in the last day.

We're pleased to have worked with Daniel Nortje, Director of Strategy & Architecture at @Salesforce.

Daniel has chosen VeChain as the blockchain of choice in a sample enterprise adoption case & successfully connected #VeChain ToolChain with Salesforce!https://t.co/YtZIG6Lx7B

— VeChain Foundation (@vechainofficial) April 8, 2021

Why did Salesforce choose VeChain?

VeChain Foundation’s official release on the partnership with Salesforce highlights the role played by Daniel Nortje, Director of Strategy and Architecture at Salesforce. Nortje was part of building the Salesforce – Toolchain Adapt solution that enables data sharing in the VeChainThor.

The executive has recognized the potential of blockchain technology as a “critical” tool in the CRM industry. As such, the integration with VeChain will focus on tackling the most important challenges in this sector. Nortje stated the following about the cooperation:

Key benefit of working with VeChain was the simplicity of integration. VeChain provides a Blockchain-as-a-Service platform, which meant I did not have to provide any intermediary architecture myself. From what I’ve seen this is unique to the VeChainThor public blockchain and I thought it was a very good idea, especially for organisations who don’t necessarily want to invest in more systems to maintain.

Der Beitrag VeChain and Salesforce partnership could be the most important in crypto, says Ben Armstrong erschien zuerst auf Crypto News Flash.

Today, the Bitcoin price has reached a new all-time high and is moving north of $63,012 with gains of 4.9% in the last 24 hours. The cryptocurrency seems to have awakened from the doldrums with weekly gains standing at 7.2%.

With Coinbase’s debut to the U.S. public exchange and the rise of the “Kimchi Premium,” many factors are converging to favor the price of BTC. Analyst Material Scientist stated that Bitcoin is on a mission to the moon. In that sense, he stated that the current price action resembles that of 2020.

As shown in the chart below, the cryptocurrency had a long period of consolidation after a pullback in March only to hit new all-time highs for the rest of that year. The analyst points out that the above coincides with Coinbase’s IPO, adding more upwards momentum.

Source: https://twitter.com/Mtrl_Scientist/status/1381656390960304131/photo/1

The second factor, investor participation in Asia, could carry just as significant weight. As Moskovski Capital CIO Lex Moskovski shows, the “Kimchi Premium” has rebounded in the last day, after having a low in early April.

However, investor Marc van der Chijs said he was “not convinced” by BTC’s rise above its former $60,000 resistance level. Predicting further appreciation, the investor said:

This is the first time (I think) that I’m not really excited about Bitcoin making a new all time high. It doesn’t feel like a real break out yet, even though it technically is. I expect breaking $65K and $70K in the near future, that’ll be more exciting.

Influence of funding in Bitcoin futures

While the action is bullish in the spot market, Bitcoin-based derivatives appear to be at more “tolerable” levels. Moskovski has indicated that funding in the futures market gives good signs for an extension of the rally. This metric sits near 0.08%.

#Bitcoin hit ATH and the funding is tolerable.

Good sign. pic.twitter.com/gfzsDFV42M

— Lex Moskovski (@mskvsk) April 13, 2021

On previous occasions, when Bitcoin tried to cross $60,000, the funding rate was higher. Because of this, investors had greater incentive to take short positions and negatively impact BTC’s performance. At the moment, the indicators seem to point to a more stable rally.

Trader See compared the funding rate for Bitcoin from 2017, when it reached its all-time high for that time at $20,000, with that of the current market. Thus, he stated that in the former this metric could exceed as much as 0.375% for half a year. That price action, in the long term, was unsustainable.

Glassnode data records an all-time high in open interest in Bitcoin-based futures and a rise in the Futures-to-Spot volume ratio, as seen in the chart below. Glassnode founders Yan Allemann and Jan Happel, had the following to say about the above:

Bitcoin Futures to Spot volume ratio looking quite nice here a deep book is fundamental to the next leg up- the spring is loaded.

#Bitcoin Futures Open Interest across major exchanges reaches record highs of more than $27B as $BTC hits new ATHs.

Chart: https://t.co/GqgQ98W7Mq pic.twitter.com/KYBQC9WZxC

— glassnode (@glassnode) April 13, 2021

Der Beitrag Coinbase effect drives Bitcoin to new ATH, will it break $70,000? erschien zuerst auf Crypto News Flash.

Aidan Connolly, President of AgriTech Capital and CEO at Cainthus, has published research on China’s food sector woes. In the context of the post-pandemic Covid-19 economic recovery, Connolly argues that VeChain could be “a game-changer”.

Although the Asian giant faces a “predicament,” as Connolly’s publication states, it has a recovery plan in place for 5 key areas. For the Chinese food industry alone, which is looking to improve with the application of technology (Agri-FoodTech), the country is expected to invest close to $6 billion.

Therefore, VeChain and its solutions will be key in multiple sectors due to the increasing demand for transparency in the food chain. In recent years, the Chinese population has been exposed to news about fraud, contamination, food inspection failures. This phenomenon has been exacerbated by the use of social networks, according to the executive. In that sense, Connolly writes:

A company that is a potential game changer is VeChain, a Chinese blockchain platform designed to enhance information flow for complex supply chains.

VeChain’s numerous partnerships in China

VeChain is mentioned in the publication along with ZhongAn Technology, a company behind a sensor called GoGo Chicken. This allows a farm to place the sensor on a chicken’s ankle. That way, relevant data can be stored about the animal such as its diet, health, the conditions in which it lives.

Along with VeChain, other companies, and solutions mentioned, Connolly estimates that ZhongAn can “revolutionize” the Agri-FoodTech industry in China. However, the increased adoption of this technology and the reduction of its costs when applied on a large scale will be highly relevant. AgriTech’s CEO states:

China is leveraging home-grown, cutting-edge technology to produce food more efficiently in a sustainable environment. Venture investment in Chinese Agri-FoodTech companies rose 66% YoY in 2020

With its multiple partnerships and solutions already integrated into real-world companies and use cases, VeChain distinguishes itself from other companies, as Connolly states. In this regard, he mentioned VeChain’s strong strategic partnerships with large enterprises:

In 2020 VeChain became the first blockchain-based entity to join the China Animal Health and Food Safety Alliance (CAFA) and has already formed strategic partnerships with the Chinese divisions of Bayer, Walmart, BMW and LVMH.

As reported by CNF, VeChain appears to be a centerpiece in the Asian giant’s 5-year national plan. Focused on developing China’s capabilities around blockchain technology, a report from the government-backed channel Shanghai Media Group (SMG) gives a “solid” signal of support for VeChain in the region.

Der Beitrag VeChain could be a game changer in China’s post Covid-19 recovery erschien zuerst auf Crypto News Flash.

The Substrate-based protocol for Polkadot, Raze Network, will begin its Initial DEX Offering (IDO) starting today, April 12. The cross-chain protocol is privacy-focused and confirmed that its IDO will be available on the platforms of Poolz, Bound, DuckStarter and others.

With Raze Networks (RAZE), developers can take advantage of one of the few platforms within the Polkadot ecosystem that allows DApps to be built on a specialty infrastructure.

According to a press release shared with CNF, once the IDO concludes, interested investors will be able to participate in a public distribution sale in the Balancer Liquidity Bootstrapping fund. The launch of this offering by Raze Network kicked off with a private sale round in which many venture capital firms from the cryptocurrency industry participated.

These include X21 Digital, AU21 Capital, Spark Digital Capital, Signum Capital, AngelONE, Kyros Ventures, MarketAcross, Arpa Labs, Lotus Capital, Master Ventures, Tenzor Capital, Block Dream Fund among others.

Expanding Raze Network’s vision and use cases

With the IDO, Raze Networks seeks to expand its original vision of building an interoperable platform with privacy features. As such, leveraging the advantages of the Polkadot ecosystem will serve to reshape its privacy layer and adapt it to the needs of today’s crypto market.

According to the release, Raze Networks will add more use cases that can be used across the Polkadot ecosystem. In addition, the team behind the platform is in the process of evaluating applications that can be brought to the real world in many areas.

Among the applications that are already available is the cross-chain private payment protocol that allows users to make secure transactions without compromising their financial information.

The Raze Network team has also deployed an application called “Secret DeFi Bridge” that allows personal information to be protected in a 100% isolated, confidential and private environment. Thus, users can interact with Raze Network to mine their native token, provide liquidity to funds, all with the protection of the “Secret DeFi Bridge”.

RAZE has the function of being a utility token. As such, it represents the speed at which the Raze Network ecosystem is growing, as numerous publications have noted in the past. The launch of the project is approaching and with it, the team will explore integrating into more initiatives that will allow it to become a strong competitor within the crypto market.

Der Beitrag Raze Networks begins Initial DEX Offering on DuckStarter, PoolZ, Bounce erschien zuerst auf Crypto News Flash.

VeChain’s strategic partner and advisor CREAM has shared via its Twitter handle, the report made by Shanghai Media Group (SMG) about VeChain. As CREAM highlights, this TV station has strong support from China and presents VeChain as a key player in the 5-year national development plan.

In what Cream has called a “solid signal,” the report presents VeChain as a bridge between traditional industries and digital economy. In the next few years, this merger is expected to account for 10% of China’s GDP while VeChain will be right at the center of the transformation. The report states:

Blockchain technology can not only secure data information on the network, but can also be applied to real-world businesses.

2) #VeChain is the featured Blockchain company interviewed and filmed in this report. This is a solid signal. (This is a solid signal.) Watch the first half of the clip here $VET #VeChain: pic.twitter.com/ITUfSZQgdH

— CREAMethod (@CREAMethod) April 12, 2021

VeChain a priority for China

According to SMG, there is a growing demand for professionals within the country who “can do both,” blockchain and real-world applications. As such, they highlight how these professionals have managed to emerge in Chinese companies due to their skills with blockchain. Channer Geng, Team Lead at VeChain, stated:

I started to pay attention to blockchain industry in 2017. More people were talking about it and I found out that the idea and the technology really captured my attention. And China listed the technology in the emerging area at the end of 2016. So it is supported by the government as well as attracting my interest.

According to the report, VeChain is looking to expand its commercial services. The company is on the lookout for professionals in blockchain, the Internet of Things (IoT), and with skills in specific sectors such as food security and retail. Sheldong Zhang, Human Resources Business Partner at VeChain, said:

Since China started to promote blockchain technology in a new infrastructure last year, many startups and big companies in the field and even companies in the traditional industries have been expanding their blockchain business. And they are far from enough of professionals, so the competition is tough.

In 2021 alone, VeChain has added 20 new professionals to its team of approximately 80 people. In the next few years, the company plans to double or triple this number. To do so, it will have to contend with the “talent gap” that exists in China, which is estimated at 750,000 professionals.

Universities and students in the IT field are responding. Blockchain-based projects are even receiving support from local authorities. In that regard, Qi Yuhan, Graduate Student at Fudan University said:

Blockchain was just becoming well-known when I got my Bachelor’s Degree, It’s now being applied to a wider range of sectors. From just cryptocurrency in the beginning. But now, it can be found in the whole of the society. It has a very promising future.

Der Beitrag State-backed TV station in China reports on VeChain’s role in national 5-year plan erschien zuerst auf Crypto News Flash.

Ferrum Network has announced the signing of a new funding contract by 6 new partners for its flagship product Rocket Vault. The new partners will help build on Ferrum’s vision of enabling DeFi tools for all users. That way, regardless of their technical knowledge, everyone will be able to maximize their profits.

The potential of Rocket Vault has been recognized by A195, Percival, BuildHodl, PeechCapital, Part1Capital, Mercurius funds with the funding contract.

Ferrum Network is an interoperable blockchain that was created with the goal of being a platform for high-speed cross-chain transactions. Part of one of Australia’s largest blockchain venture capital, Ferrum Network offers its users a wide range of products.

These include the Ferrum Sub-Zero wallet, the decentralized Fe DEX exchange, and a unique feature that allows its blockchain to operate without requiring miners, blocks, and the usual blockchain requirements. Therefore, transactions are processed at a faster speed.

Ferrum Network User Empowerment

In a press release shared with CNF, the Ferrum Network team highlights the importance of breaking down accessibility barriers to the DeFi sector. That’s why they are leveraging artificial intelligence, machine learning, and other tools to create solutions to minimize losses.

The Rocket Vault gives Ferrum Network users a product through which they can trade with token options, multiple staking, among other functions. Users can participate in the DeFi sector and generate profits without having to perform manual tasks.

To start leveraging Rocket Vault’s features, it is only necessary to deposit funds. As revealed by the Ferrum Network team, Rocket Vault’s APY has maintained an average of 100% with its integration to platforms in decentralized and centralized ecosystems. A195 fund stated the following in the press release:

At A195, we recognize the difficulties that new usersface when looking for the bestyield in DeFi. The ease of use and highly competitiveyields will quickly cementRocket Vault as a flagship DeFi Yield platform

Ferrum Network’s consulting team also works on GoChain and Wanchain. The latter recently announced the integration of the XRP token into its platform to enable its use in different DeFi protocols. The Wanchain ecosystem is interoperable with Ethereum, Bitcoin, EOS, among others.

Der Beitrag Ferrum Network announces the addition of 6 partners to Rocket Vault erschien zuerst auf Crypto News Flash.

Wanchain CEO Jack Lu has shared a video on Twitter confirming that the XRP token will be part of its ecosystem. Through this platform, users will be able to do liquidity mining and yield farming with Turing-complete smart contracts.

Among the decentralized applications that will be available is decentralized exchange WanSwap, an autonomous protocol for interest rates that will allow taking loans called WandLend, the options platform Fin Nexus, among others.

In addition, users will be able to leverage other Wanchain-integrated blockchains such as EOS, Ethereum, Bitcoin, and others. Wanchain’s deployment is “a few days away”, according to the announcement shared by its CEO. He called the XRP community one of the most “passionate” in the crypto space, Lu added:

I just want to say welcome to all XRP holders. Come and join us, let’s build a new DeFi world together.

I'm happy to announce that we are just days away from $XRP officially joining #Wanchain's family of decentralised, interoperable #blockchain networks.

Welcome to every $XRP holder. Come, and join us! Let's build this new #DeFi world together. pic.twitter.com/IaNv5NMY69

— Jack Lu | Wanchain (@JackLu_WAN) April 10, 2021

XRP compatibility with Ethereum

Wanchain is a project that aims to “fix” decentralized finance by connecting all blockchains, private and public. That way, they want to “accelerate” the implementation of DeFi benefits in the mainstream.

Their native token will be WAN and will allow users to earn rewards for doing cross-chain staking, earn block rewards, delegate the token for yield, and will offer many more features.

At the end of March, Wanchain’s team announced the compatibility of XRP with their Ethereum testnet. Thus, they enabled cross-chain bridges between the Rinkeby Ethereum proof-of-stake network and the XRP Ledger proof-of-stake network. The team stated:

In other words, XRP can now move freely between these three networks – in a truly decentralised way – thanks to Wanchain’s Storeman nodes. More importantly, XRP token holders are now poised to put their XRP to work and engage with the world’s many DeFi applications.

The integration between these blockchains, according to the Wanchan team, is made possible with the Wanchan Storeman Group (WSG) which is composed of 21 “truly decentralized” nodes. Thus, when a user wants to transfer assets in XRP to ETH, WSG sends the funds to an XRP Ledger address to “lock them in.”

Then, wanXRP tokens are minted in Ethereum via the ERC20/WRC20 bridge. WSG burns the wanXRP tokens if the user wants to reverse the transaction. The team further states:

When such a transaction is required, the same Storeman Group both burns the wanXRP on the origin chain and mints new wanXRP on the destination chain.

Der Beitrag Wanchain to integrate XRP into its mainnet to enable yield farming erschien zuerst auf Crypto News Flash.