Popular payment institution Xfers has announced the launch of XSGD, the first Travel Rule compliant stablecoin. XSGD is backed 1:1 with the Singapore dollar (SGD).

The issuing institution, Xfers, in an official blog post, disclosed that the launch stands as an important milestone towards achieving a trusted financial system in Southeast Asia. A system that that is open and accessible to all.

According to the official blog post, users and holders can now easily convert their SGD to XSGD. They simply need to login to their verified Xfers account and bookmark their blockchain address.

Xfers furthermore confirmed the launch on Twitter.

We are excited to unveil the public release of $XSGD – the world’s first Travel Rule compliant #stablecoin, backed 1:1 with the Singapore Dollar (SGD) – with the support of over 20 reputable ecosystem partners.

Find out more here 👇https://t.co/r0XlfNSHpa$ETH $ZIL

— Xfers (@xfers) October 5, 2020

Regulatory compliant and secure

The payment institution Xfers currently holds a MAS (Monetary Authority of Singapore) license. This simply means that Xfers can print as many XSGD tokens as it desires using its e-money issuance license. Also, all the minted stablecoins are backed 1:1 with the Singapore dollar.

According to the official blog post, MAS also recently adopted FATF (Financial Action Task Force) Travel Rule guidelines. Xfers added that ensuring the stablecoin complies with PSN01 is a major goal. The XSGD stablecoin complies with FATF Travel Rule and has a working onchain monitoring component brought on by Elliptic and Merkle Science. The Travel Rule is that the payment data associated with the recipient and sender of a cryptocurrency transaction must travel along with the actual payment itself. Lastly, all funds are securely held in separate accounts in MAS-licensed banks.

Xfers is supported by several top custody solutions, such as Fireblocks, Ledger Vault, OnChain Custodian, and even Bitgo. This, in essence, points out the layers of top-notch security Xfers employs. The institution furthermore boasts of a simplified tokenization platform.

Xfers tokenization platform

On this platform, interested users can easily convert the XSGD to SGD and vice versa. With the launch of XSGD, the platform is now open to verified Xfers users. To convert SGD to XSGD, users need to first whitelist their “Ethereum or Zilliqa blockchain address to enable XSGD transfers in and out of the Xfers platform.” Once this is done, they can then easily convert SGD to XSGD and vice versa. The rate of this conversion is 1:1.

Ecosystem partners

Xfers have also partnered with several topnotch institutions in a bid to create more use cases for the XSGD stablecoin. In line with the partnerships, XSGD can be found in a wide range of platforms. These platforms include institutional custodians, exchanges, analytics tools, DeFi, non-custodial wallet solutions, etc.

The ecosystem partners include:

• Personal wallets like Trust Wallet, TokenPocket, Moonlet, Zillet, ImToken, Ledger Nano S, and MyEtherWallet.
• Institutional wallets and custody solutions such as Ledger Vault, Fireblocks, BitGo, and Onchain Custodian.
• Exchanges and trading platforms including Crypto.com Singapore, Sparrow Exchange, QCPCapital, Coinhako, Liquid, and Tokenize Exchange.
• Decentralized finance (DeFi) platforms including Uniswap, Zilswap, Hodlnaut, ms DEXTF, Kyber, and Unagii.com.
• Blockchain analytics like Etherscan, Merkle Science, Elliptic, and Viewblock.

Interestingly, the XSGD stablecoin is available on both Ethereum and Ziliqa protocols. On Ethereum it is an ERC20 token while on Zilliqa it is a ZRC-20 token. Plans are in place to expand the stablecoin ecosystem in the near future.

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Source: Altcoin Buzz News
Original Post: XSGD Stablecoin Launched by Xfers

Safe Haven (SHA), known for building fintech solutions on blockchain, has been working tirelessly on new projects. This work has been done in both collaboration with others and as a solo effort. 

This report shall look at the recent news, projects, and partnerships by Safe Haven (SHA).

Safe Haven launches Inheriti community edition

Inheriti represents the first digital inheritance solution that is fully decentralized. Launched two weeks ago, blockchain experts can now have access to this digital inheritance solution by Safe Haven.

The Community Edition (CE) presents decentralized inheritance of data in its most transparent form. The solution also makes use of SafeKey technology and blockchain to ensure the safe distribution of encrypted shares on cold storage devices.

Vulcan acquires CometVerse from Safe Haven

On the 3rd of October, Vulcan announced that they have successfully acquired CometVerse from Safe Haven. CometVerse is a marketplace opened up by Safe Haven on the VeChain ecosystem.

We are happy to announce the acquisition of COMETVERSE from @SafeHavenio. With Vulcan leading the way with #NFTs and #dApps on @vechainofficial and @SafeHavenio focusing on their groundbreaking @Inheriti_com, it’s a perfect match. 🔥🔥 pic.twitter.com/NvcOgWUpGd

— Vulcan Forged (@VulcanForged) October 3, 2020

Responding to this announcement, Safe Haven revealed that CometVerse has “found a new home” with Vulcan. Vulcan Forged notes that the acquisition is perfect as Vulcan Forged is leading the way with NFTs and dApps while Safe Haven is concentrating on Inheriti, all of which are on VeChain. Safe Haven wishes to further collaborate with Vulcan Forged for future projects.

All the best to @vulcanforged with CometVerse. We are happy that CometVerse found a new home and we are looking forward to future collaborations. Let’s make all these #NFTs inheritable 💪 $SHA #NFT https://t.co/qHUM4SauL1

— Safe Haven (SHA) (@SafeHavenio) October 3, 2020

Safe Haven to permit fixed APR staking for $SHA holders

Logino Dujardin, CEO of Safe Haven, announced that after the CryptoFarm that took place on October 4, most holders became willing to stake their $SHA.

It is pertinent to note that $SHA is the native token for Safe Haven. For this reason, the CEO proposed that Safe Haven may launch “a fixed staking program within the NODE application.” He also points out that a fixed APR will also be arranged both for NODE and non-NODE holders.

By sharing the above information on his official Twitter handle, Dujardin called for the community to deliberate on the proposal.

Moments after, Dujardin tweeted that:

I guess we voted YES today 💪 staking with fixed APR for ALL $SHA holders is coming… You ask, we deliver… https://t.co/k6zwU2W6xI

— Logino Dujardin Ⓥ, Safe Haven | #SHAman (@LoginoD) October 1, 2020

In other news, Safe Haven is currently in the process of acquiring another DeFi platform.

In the flash update we stated that we are in the process of acquiring another #DeFi platform that will run on #BinanceSmartChain. The platform will bring $SHA and $BNB utility and at the same time generate transactions for our loyal NODE holders. $SHA $BNB #BSC

— Logino Dujardin Ⓥ, Safe Haven | #SHAman (@LoginoD) October 4, 2020

This platform will effectively run on the Binance Smart Chain. This new platform will bring utility for $SHA and $BNB. Binance Smart Chain will also generate transactions for loyal NODE holders. With all these plans in place, the future is indeed brighter for the Safe Haven community, and especially $SHA holders.

Previously, DigiByte Foundation announced a partnership with Safe Haven. According to reports, the partnership between DigiByte and Safe Haven includes the future integration of the Safe Haven inheritance platform on the DigiByte blockchain.

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Source: Altcoin Buzz News
Original Post: Recent News on Safe Haven (SHA)

2020 has been dubbed the year of decentralized finance (DeFi). The DeFi ecosystem is made up of both decentralized finance and decentralized applications (dApps).

According to DappRadar, the Ethereum blockchain currently houses about 96% of all DeFi ecosystem transactions. The introduction of yield farming has furthermore attracted investors to this fast-growing space. Better incentives also resulted in a 10x increase of the DeFi ecosystem during Q3 of 2030.

This article will cover in-depth details like transaction volume, total assets locked, earnings, etc. Important details like the other blockchain platforms (TRON, Ontology, EOS, etc.) housing a small portion of DeFi will also be analyzed.

Important details

It is important to note that:

• The total value locked on Ethereum at Q3 2020 was above $10 billion.
• Ethereum, EOS, TRON are in charge of approximately 97% of the total daily active wallet.
• Ontology, IOST, and NEO recently joined the DeFi space.
• Successful dApp growth has been linked to better incentives and yield farming.
• Uniswap has the highest earnings, followed by SushiSwap and Balancer.
• Several blockchain platforms have indicated interest in venturing into the DeFi space.
• Q3 2020 recorded the highest DeFi growth so far.
• Ethereum is at the top of the DeFi growth. It currently holds 96% of the total DeFi ecosystem transaction volume.
• Q3 saw the DeFi ecosystem cross the $123 billion transaction volume benchmark.
• Ethereum furthermore accounted for over 57% of daily active wallets in Q3 2020. EOS and TRON, on the other hand, held about 5%, and 35% respectively.

Apart from transaction volume, total value locked (TVL) was also up by 380% from Q2 2020. At the end of Q3 2020, TVL was approximately $10 billion. The dApps that brought about the most increase include Uniswap, MakerDAO, and Curve. Uniswap growth was mainly due to the launch of its UNI governance token.

More details

As previously stated, Ethereum accounts for 56% of daily active wallets, with its major contributors being Uniswap, SushiSwap, Balancer, and Compound. The biggest contributors on EOS protocol include the DeFis Network, Defibox, and Dmd.Finance. Together they contributed a total of 4,300 daily active wallets.

Lastly, major dApps contributors on TRON include Zethyr Finance, JUST, and Oikos.cash. Also, new DeFi projects like Sun, Unifi Protocol, and SharkTron contributed about 32,000 daily active wallets.

Several protocols like NEO, IOST, and Ontology also joined the DeFi train in Q3 2020.

Yield farming and governance tokens

The launch of new governance tokens and yield farming has been linked to the current DeFi boom in Q3 2020. Yield farming was first launched by Synthetix, but it gained popularity through Compound.

Launched in June, Compound experienced exponential growth, reaching up to $4 billion by the middle of the same month.

SushiSwap was then launched in August. The project practically catapulted the DeFi ecosystem sky high. With Uniswap as a base, the project raised over a $6 billion transaction volume and migrated in September.

Following the migration of SushiSwap, Uniswap launched its UNI governance token. The token was a huge success with immediate listings on top exchanges like Coinbase Pro, etc. Transaction volume peaked and $33 billion was raised. This amount alone accounted for about 60% of the DeFi ecosystem total transaction volume.

While Ethereum currently tops the chart for the blockchain holding DeFi protocols, the network faces a huge issue – scalability. As DeFi protocols increase on the network, Ethereum is showing serious signs of congestion. Gas prices are ridiculously high and the network is generally slow. With this in mind, several blockchain platforms are turning up as a replacement for Ethereum. They include Polkadot, Cardano, and Binance.

Find out more about the DeFi ecosystem on the Altcoin Buzz YouTube channel.

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Original Post: DeFi Ecosystem Q3 2020 Report

Nonfungible tokens (NFT) have recorded an unprecedented increase in sales. Leading the charge is Rarible, an NFT marketplace where digital collectibles can be “minted,” bought, and sold.

Launched this year, the Rarible marketplace has garnered the attention of enthusiasts worldwide. Sales on the NFT platform have spiked in recent times, with total monthly sales on the platform reaching up to a whopping $5 million. This figure currently dwarfs that of OpenSea, the supposed king of the NFT marketplace.

The DeFi space is quite distinct from the nonfungible token (NFT) marketplace. Analysts have, however, linked the surge in NFT marketplace sales to the rise in DeFi protocol usage. According to reports, the anticipated bull market, liquidity mining, etc. associated with the DeFi space is also the cause of the spike in NFT sales.

About Rarible

Prior to its July 15, 2020, governance token (RARI) launch, Rarible was basically unknown in NFT space. The governance token launch, as well as mouthwatering incentives for buying and selling art, attracted people to the NFT marketplace.

A September 16 report by Messari, a crypto asset data website, pointed out that the marketplace this month crossed the $5 million benchmark in monthly sales. Messari’s report further disclosed that $1.5 million of this amount was attained in a single day. Interestingly, a single item of digital art known as “Right Place & Right Time” sold for $100,000 on September 21, 2020. This rising sale is a clear indication that the NFT space is relatively unaffected by the current economic crisis.

Although 2020 has been dubbed the year of DeFi, the NFT marketplace is also steadily garnering attention this summer.

Digital art to surpass traditional art – True/False

News of the Rarible marketplace sales spike and increasing interest in digital art has attracted the attention of top people in the crypto space. 

According to reports, Anthony Pompliano and Jason Williams, co-founders of Morgan Creek Digital, have allegedly made a bet on digital art. 

Pompliano in his newsletter, summed up the details of the bet. He pointed out that the bet is based on the fact that digital art is predicted to surpass traditional art. This seems far-fetched though as the traditional art market has a $65 billion cap while the digital art cap is currently at $10 million.

Sam Bankman-Fried, CEO of FTX, in response to Pompliano, had a doubtful stance. His tweet sparked a debate on the future of NFTs and the price of art in general. 

ok guys so

like

with NFTs, you can… like…

…download them, right?

even if you don't "own" them?

— SBF (@SBF_Alameda) September 22, 2020

However, it is important to also note that impossibility is a term almost non-existent in the crypto space. Case in point, just look at DeFi’s current phenomenal rise, the current increase in general altcoin prices, and even the Bitcoin bull run of 2017.

Splinterlands recently launched a series of NFT boosters. Minecraft also disclosed plans to finally launch its NFTs and a new NFT marketplace this year.

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Original Post: NFT Sales Spikes as Rarible Crosses Million Benchmark

Ethverse and well-known Ethereum scaling solution Matic Network have announced a strategic partnership.

Built on the Minecraft gaming platform and Ethereum decentralized technology, Ethverse provides users with an immersive experience on the gaming network. Users can also easily monetize assets, features, and services on Ethverse.

Matic Network confirmed the partnership in a series of tweets. Ethverse, according to the tweets, will enjoy several benefits from the partnership.

1/ @ethverse, a decentralized virtual universe owned by its users, is collaborating with Matic to allow users to better engage in countless immersive experiences!

Ethverse is an open, interactive & decentralized virtual universe built using the Minecraft gaming engine & Ethereum pic.twitter.com/cNutHv8ds8

— Matic (@maticnetwork) September 28, 2020

Matic Network’s inexpensive, fast, and credible transactions will provide Ethverse users with better immersive experiences on the platform. Users will be able to design the virtual world as they please. They can create buildings and objects, as well as own and trade assets and lands within the ecosystem. Ethverse users can also enjoy role-play, treasure searches, virtual events, and several other activities due to its partnership with the Matic Network.

More important upgrades are expected to follow the partnership between Ethverse and the Matic Network.

More on the partnership

Matic Network’s fast and inexpensive transaction structure, known as RocketMatic, will also drive the Ethverse ecosystem. The structure will also make it possible for users to purchase or sell (trade) assets on the open and interactive platform.

Matic Network will also open a virtual shop on the decentralized virtual world of the gaming network. This will open up Matic Network users to the wonders embedded in the Ethverse virtual world.

To commemorate the partnership, both platforms have decided to carry out a giveaway. Community members now have the opportunity to win $200 worth of MATIC tokens.

In other news, Matic Network recently welcomes several new validators on its platform. These validators include the likes of ValidationCap, StakeCapital, StarFi Protocol, Ethermon NFT, and FreshMATIC

The Ethereum scaling solution also recently launched its staking mainnet. Users who stake on the platform will receive APR as high as 33%. The platform has also announced a partnership with MahaDAO.

Previously, Altcoin Buzz covered partnerships with StakeHound and Chainlink. The Ethereum scalability solution platform also recently completed its phase 1 staking.

The Altcoin Buzz YouTube channel recently listed Ethverse as one of the top ten altcoins to buy this year.

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Original Post: Ethverse Partners With Matic Network

The National Superintendency of Securities of Venezuela has authorized the operation of a decentralized (DeFi) electronic exchange known as BDVE. This pilot program is being touted as the “world’s first decentralized stock exchange.” 

This project from Venezuela is a DeFi project on the Ethereum network that will be tested in the next 90 days. Users will be able to buy tokenized assets and ERC20 tokens on the exchange.

Leveraging on DeFi for stocks and derivatives

This announcement was published on the 29th of September in the Official Gazette number 6,578. The document mentions that the platform will serve the primary, secondary, and derivatives markets (options and futures). In addition, it will carry out public offerings for securities, negotiations, transfers, custody processes, and settlements. The platform would also be able to work on multiple smart contracts.

“This platform allows the security custody process to be individual, shielded and public. There is also a trading system available 24 hours a day and 7 days a week that guarantees transparency, security, speed, reliability, traceability, and lower cost of operations,” mentions the Official Gazette.

The information was also disclosed Tuesday night by Manuel Aaron Fajardo García, who serves as the main manager of the new digital exchange. Through a live broadcast from his Instagram account, he indicated that the project has been undergoing set up “for months.” However, the development of the project was kept secret and unknown to the public.

In relation to commissions or fees, the exchange’s website indicates that it will be 0% for fiat money sales operations. Also, it would be 0.1% for sales operations carried out through “alternative digital assets.”

DeFi stock market can aid finance for multiple sectors

Another aspect that Manuel Aaron Fajardo García highlighted is that the decentralized stock market can serve as a source of financing for multiple sectors in Venezuela. The reason is that the new entity does not depend on the national financial system.

When reviewing the operations manual of the electronic stock exchange, it is observed that it is a DeFi project (decentralized finance) that works with smart contracts and multiple tokens on the Ethereum network.

It should be noted that you have to be a citizen of Venezuela in order to use the BDVE app. Also, there is discussion on how decentralized the exchange can actually be as it is controlled by the socialist government of Venezuela.

According to local reports, other financial projects have been approved in Venezuela. Among them, the Interbanex system stands out, a short-functioning virtual currency market that was authorized by the Central Bank of Venezuela (BCV) in January 2019.

The Venezuelan economy is still in shambles. The policies dictated by the socialist government has led to massive shortages in food, medical supplies, and fuel. A number of citizens turned to Bitcoin mining in order to survive, but the government has made it mandatory for miners to have a license and all mining operations are carried out via a national mining pool. Hence, the government controls payouts, not to mention the importation of all crypto mining equipment.

One program, Bitcoin for Venezuela, has been providing food to hungry families by soliciting Bitcoin donations from around the world.

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Original Post: Venezuela Authorizes Pilot Program for DeFi Exchange

Linear Finance, the latest addition to the decentralized finance (DeFi) landscape, secured a $1.8 million investment led by key strategic investors of the blockchain space. According to the press release shared with Altcoin Buzz, the financing was led by professional investment platforms like NGC Ventures, CMS Holdings, Genesis Block, Alameda Research, Hashed, and Kenetic Capital. They were joined by five more investment organizations.

Along with their investments, NGC Ventures and Hashed will also contribute towards the overall growth of this DeFi project. Mr. Tony Gu (NGC Ventures) and Mr. Ryan Kim (Hashed) will join the advisory board of Linear Finance. As advisors, they will share their tactical knowledge and experience of the DeFi space with the team.

Notably, NGC has been a key contributor to the growth of leading projects like Zilliqa. Thus, both leaders will help Linear Finance in financial innovation, market expansion, and building roadmaps for institutional liquidity.

Funds will accelerate the development

Linear Finance holds the potential to be one of the projects that will support and maintain the high growth rate of DeFi. The project holds tremendous potential because:

• The investors will be able to invest quickly and will be able to save fees and secure assets at a fair market price.
• On the Linear platform, the users can build and manage spot or portfolio exposures well.
• The protocol has unlimited liquidity.
• It will assist in the creation of synthetic assets (Liquids) with zero slippage.
• Cost-effective creation, trading, and management of synthetic assets (Liquids).

3. This means you will be able to invest in or create a portfolio with your favorite synthetic assets with unlimited liquidity and no slippage!

Interested? Check us out below!@LinearFinance https://t.co/hm4yqDnvNF

— Linear Finance (@LinearFinance) August 29, 2020

According to the press release, the investment will accelerate the development, deployment, and marketing of the Linear Finance testnet and mainnet. Once complete, Linear Finance will be the first cross-chain compatible, decentralized delta-one asset protocol.

Kevin Tai, co-founder of Linear Finance, said that the team is trying to resolve the issues present in existing synthetic asset protocols. According to Kevin, the strategic investor partnership will accelerate the development and deployment of the platform. The investor platforms are equally excited. According to Mr. Tony Gu, managing partner of NGC Ventures, Linear Finance is emerging as a leader in the synthetic asset space.

More at Linear Finance

Linear Finance is aggressively partnering with the best of the crypto space. Recently, it partnered with Tellor for scalable and decentralized Ethereum oracles.

The team is also working on Binance Smart Chain integration as a layer 2 solution. With this integration, it will solve issues faced by existing synthetic asset protocols.

At Altcoin Buzz, we have been keeping a close watch on the DeFi space. We have identified some low market DeFi projects that are worth investing in.

 

 

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Original Post: DeFi Platform Linear Finance Secures .8M Investment

The Ethereum gas fee actually became a choke point for ETH traders last week. As the average transaction fees soared to $15.29 on September 2, many traders faced transaction delays and rejections. Disappointingly, the gas fee consumed the entire transaction amount for some traders. 

It is a common opinion that the explosion of DeFi and the popularity of Tether have triggered the explosive Ethereum gas fee hike. Some suggest Ethereum 2.0 could be a solution, but the reality is that its mainnet launch is months away.

So, is there no solution to reduce the ETH gas fees?

Vitalik Buterin says solutions exist

After hearing a lot of bashing, Vitalik Buterin gave his opinion about the gas fee solutions. According to Vitalik, increasing the throughput is the solution to put an end to the gas fee issue.

In this vein, he emphasizes that Layer 2 solutions by zksync, Loopring, and Omisego that scale up to 2,500 plus TPS (transactions-per-second) are a go-to solution for a high gas fee.

Loopring

Vitalik believes rollup and sharding are the best solutions to increase scalability. Loopring is the first and only 100% rollup payment solution on Ethereum. Its popularity has been touching the sky with the ETH gas fee hike episode. As a layer 2 solution, Loopring offers a simple UI on the website so that it’s easy to use for a novice ETH trader too.

Furthermore, Loopring is a protocol that is used to build non-custodial, high-performance, order book exchanges on Ethereum using zkRollup. Using zkRollup increases scalability as it conducts mass transfers by bundling hundreds of transfers into one transaction.

According to Loopring’s monthly update, Loopring protocol 3.6 is close to code completion and will be ready for external audits soon.

About a month back when DataDash founder Nicholas Merten asked Vitalik the most immediate solution to lower on-chain network fees, Vitalik recommended Loopring.

@VitalikButerin as someone who's built an Ethereum smart wallet, I wanted to ask you 2 things:

1. What's the most immediate solution ETH could implement to lower network fees on-chain?

2. What's the best tech we could implement to play our part in reducing gas consumption?

— Nicholas Merten (@Nicholas_Merten) August 4, 2020

zkSync

As a trustless layer 2 scaling solution, zkSync is the first zkRollup with no application-specific trusted setup. On June 18, 2020, the project announced the launch of zkSync v1.0 on its mainnet. Built using zkRollup technology, zkSync is progressing ahead to build a 2,000 TPS solution to greatly reduce the ETH gas fee costs.

It offers its users a very intuitive UX that works with any ETH wallet. The good news for developers is that zkSync is very easy to integrate into their projects.

OmiseGo

On June 1, 2020, OmiseGo shipped its OMG Network V1 Mainnet Beta. It is a layer 2 scaling solution that promises to reduce the gas fee by 66%. The solution groups hundreds of Ether and ERC20 transactions together to scale the network. By employing this, high throughput of thousands of TPS is achieved that results in 1/3rd the transaction cost without compromising the security.

Here is a video on our Altcoin Buzz YouTube channel discussing the solutions in detail.

 2^nd layer stable chains for scaling – xDai Chain

While the world was busy paying outrageous fees for moving their ETH, xDai Chain’s @RaidGuild was deploying solutions to ease the gas fees pain on the Ethereum mainnet.

The @RaidGuild xDai Squad is in full force 🔥⚔️ ! $xDai integrations deploying this very moment to help ease the pain of over-the-top 🎪 gas fees happening on #ethereum mainnet. https://t.co/pM2T4qcGLg

— xDai Stake (@xdaichain) September 1, 2020

xDai Chain is the first USD stable blockchain and it was born with an idea to not have volatile gas prices as the native coin was stable. As an EVM-based layer 2 sidechain, it uses the xDai stablecoin as the native currency. Basically, xDai is a Dai bridged from Ethereum 1:1. It is designed in a way so that xDai lives on a sidechain. Because of this, the transaction costs are extremely low.

Here is our in-depth article about xDai and how it supports fast, cheap, and no ETH gas fee transactions.

The post Are There Any Possible Ethereum Gas Fee Solutions? appeared first on Altcoin Buzz.

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Original Post: Are There Any Possible Ethereum Gas Fee Solutions?

Cybervein (CVT) has had an epic price run in 2020. It has risen by just shy of 5000% in terms of USDT value since its all-time low in early January 2020. Is this run showing any signs of slowing down? What might be good price levels to buy back in at?

Since recording an all-time low of 0.0295 USDT in the first week of January 2020, CVT has experienced almost a phenomenal 50x increase in price. This occurred when the CyberVein price reached its all-time high of 0.14499 USDT on August 31, 2020 on the Malta-based OKEx cryptocurrency exchange.

Bullish momentum

Recent higher highs on the MACD histogram, as well as a fresh new uptrend on the RSI indicator on the weekly chart, show that CVT has not lost any of its bullish momentum. While the weekly chart has been in the overbought area (above 70 on the RSI indicator) for four weeks, this is common to see in bull markets. Indeed, CVT spent a full nine weeks in this overbought area during its last big run up. Even after correcting down below the overbought area in its previous run, the weekly chart maintained its higher high and higher low structure.

Psychological 0.01 level

CVT is currently in price discovery mode. This is to say that the price has never been in the area in which it is now. This makes it very hard to predict how much higher it can go. It is during times like these when some of the few tools that technicians have to go by are psychologically-relevant numbers. In this case, we are attempting to close above the 0.1 USDT level but have not yet had a weekly close above it. A weekly close below this level might lead to a period of consolidation which could provide a good entry point at lower levels.

Waning volume

The past several weeks have seen very low volume compared to the previous leg up. This is a warning sign that this current move up does not have as much credence to it as the previous large move up which we saw in March, April, and May. It does not imply that the CyberVein price will correct but it does indicate that there is less confidence in this move up than there was in the last ones this year.

 

Good level to buy CVT

While it might be tempting to buy CVT now, it is not safe to buy assets which are in the middle of a leg up as they can have large corrections yet still remain in bullish territory. The best time to buy is when there is a pull back or a consolidation of price action.

The 13 EMA on the weekly chart has proven to be a solid support during the past six months. Five weekly candles have flirted with this level with no candle closing below it. If the price comes back to test this level, an entry could be considered.

Altcoin Buzz interviewed the founder of Cybervein on the Altcoin Buzz YouTube channel on 25 May.

—

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This interview, overview, or update article has been compensated for media cooperation and has been sponsored for by the interviewed or reviewed organization. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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Original Post: CyberVein (CVT) Up 5000% in 2020

The Decentralized Finance (DeFi) space is one aspect of the crypto and blockchain industry that has attracted the attention of enthusiasts in recent times.

With this in mind, Bluzelle has disclosed plans to expand into this fast-rising sphere by launching an oracle network specially designed for DeFi protocols. Bluzelle’s recently debuted oracle platform will provide trusted and accurate data. In addition, it will also ensure top-notch security for DeFi protocols.

The Bluzelle DeFi-focused oracle is one of several ways the platform is looking to become a top name in the blockchain and crypto sphere. The DeFi ecosystem has continued to garner the interest of major players in the crypto space. A major pointer to this is the current rise in ETH fees.

According to reports, Bluzelle Oracle will provide accurate price feeds and stellar security for DeFi protocols. Especially for applications actively involved in staking, payments, and lending.

Bluzelle further disclosed that its recently debuted oracles will make use of its BluzelleDB database. This means taking advantage of the database’s large number of validator nodes.  

DeFi protocols and oracle solutions

The importance of a trusted and reliable oracle solution to a DeFi protocol cannot be overemphasized. Oracles serve as a link between on-chain and off-chain platforms, relaying data between both parties. Bluzelle boasts of being able to communicate decentralized data while ensuring top-notch security.

In a press release, Bluzelle disclosed that its oracle solution will furthermore allow the storage and referencing of historical price data. This facilitates easy access to trusted price feeds. It would also ensure data is protected from attacks and gives the ability to offer the fast return of prices. 

Speaking on the announcement, Bluzelle CEO Neeraj Murarka pointed out that the current increase in DeFi transactions has opened the space up to nefarious individuals. He adds that Bluzelle’s oracle solution  has a “unique algorithm to determine accurate asset prices and at the same time provide advanced warnings of threats on the DeFi app.”

Bluzelle has recently been in the limelight for the right reasons. The blockchain platform recently announced the launch of its staking economics. The launch provides early stakers with the opportunity of enjoying an APY as high as 25%.

Altcoin Buzz recently published an article detailing a partnership of HedgeTrade with Bluzelle and Simplex.

The post Bluzelle Launches DeFi-Focused Oracle Solution appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Bluzelle Launches DeFi-Focused Oracle Solution

Turkish football club Trabzonspor has partnered with Chiliz to launch their fan token. Trabzonspor joins football organizations like FC Barcelona, Atlético de Madrid, Paris Saint-Germain, Juventus, AS Roma, Galatasaray, CA Independiente, Apollon Limassol, and eSports organizations Team Heretics and OG in using the fan token system of Socios.com.

According to reports, Trabzonspor will release their Fan Token ($TRA) on the Socios.com app and the Chiliz Exchange.

A storm is here.https://t.co/2FROhT4RnG is pleased to announce that @Trabzonspor is the second Turkish team to join our platform.#HoşGeldinTrabz 🌪️ https://t.co/VXkOPxVlNC

— Socios.com (@socios) August 27, 2020

Possible benefits

The holders of Trabzonspor Fan Tokens ($TRA) will reportedly be able to impact club decisions and vote in several polls each season on Socios.com. In addition, token holders get the opportunity to obtain rewards linked to the club’s innovative digital experiences. These rewards include meeting players and watching games as a VIP when fans return to the stadiums.

Additionally, the club revealed plans to release a leaderboard where fans can receive rewards points based on how they interact with the club through the app. Thus, giving fans the chance to compete to become the top fan in their region/country.

Alexandre Dreyfus, the CEO and founder of Chiliz and Socios.com, commented on the development. He said, “The passion for football in Turkey is incredible. But, there’s also a willingness to embrace new technology that makes it a massively appealing market for us.”

Alexandre Dreyfus also claims that Trabzonspor shares the vision of Socios.com. This is the notion that they can build a closer connection with their fans in Turkey and around the world via blockchain technology.

Sinan Zengin, the general manager at Trabzonspor, added, “Thanks to this partnership, we will have much more effective communication with our fans who are spread all over the world. Our fans will have the chance to influence and change the decisions of our club on some issues.”

About Chiliz, Socios.com, and FanTokens

Chiliz ($CHZ) is an ERC20 utility token on the Ethereum blockchain and a digital currency for sports and entertainment platforms. The token also serves as the digital currency for Socios.com where fans can buy, trade, and execute voting rights in their favorite sports teams.

Following the launch of the Socios.com platform and blockchain ventures, a new type of token was created – the Fan Token.

The fans of an FTO team are usually required to purchase $CHZ via a cryptocurrency exchange to acquire Fan Tokens.

Accordingly, ownership of the token offers fans the chance to partake in fan-led decisions through a mobile voting platform. The tokens also serve as a medium into a secure, exclusive inner circle of fans with shared passions.

The more tokens a fan holds and the more they vote, the higher the rating of that fan. Therefore, moving them upwards through different reward tiers until they get to the highest VIP benefits available.

Recently, Socios.com revealed plans to carry out 4 Fan Token Offerings (FTOs).

The post Trabzonspor Partners Chiliz to Launch Fan Token appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Trabzonspor Partners Chiliz to Launch Fan Token

Chiliz has launched their Socios.com Visa Debit card to provide more rewards for fans globally. Socios.Com Visa card will be linked to their favorite clubs for offers, rewards and more 

The new debit card launched by Chiliz is powered by Railsbank’s pioneering open banking platform and available to all users on Socios.com. This card can serve as a ticket entry in the future and receive cashback as well. Users will be able to make deposits on Socios.com and also make payments like a traditional Visa card. The Socios.com Visa card includes IBAN and will be available in 26 countries in the European Economic Area. They will then look to expand to additional markets.

Be more than a fan

Chiliz is putting a huge emphasis on allowing users to ‘Be More Than A Fan’. Currently, users have access to Fan Tokens in which they can participate in club polls and earn rewards. Many big clubs such as Athletico Madrid, Barcelona, Juventus, and many others have all come on board. Barcelona who just launched the $BAR Fan Token had $1.3m in sales revenue generated in less than 2 hours.

Partnering clubs are not only limited to soccer but other sports as well. Two-time Dota 2 champions, OG, and even UFC is partnered too. Chiliz is looking to onboard 50 more clubs this year with 3 more Fan Token offerings happening on 25 August.

The Socios.com VISA card will let users improve their fan status and also gain more benefits from the supported clubs. On top of that, limited edition club cards for leading Fan Token holders will be created.

Socios.com VISA debit card

The Socios.com VISA card will be available by the end of summer. Here are some benefits listed for the VISA cardholders.

• Fans using the card to make purchases from any official club sponsor will receive cashback in the form of a Chiliz deposit into their Socios.com account.
• Fans who made purchases will also receive an entry into that day’s $CHZ airdrop(prize pool of over €100). They will also acquire leaderboard points that increase their chances of accessing club rewards.
• Every purchase a cardholder makes grants him access to financial rewards and club-related benefits.
• Socios.com VISA Debit cardholders will receive a unique global ID number. This is linked to their Socios.com ID which has been KYC verified. Once linked, fans are able to redeem club and sponsor related rewards and discounts.
• The VISA card will also be able to serve as ticket entry to the stadium.

New partnership

Alameda Research has strategically invested in Chiliz to provide increased liquidity for $CHZ and growth of its ecosystem. Alameda Research was founded in 2017 and manages over $100m in digital assets and trades $600m to $1.5bn per day.

Alexandre Dreyfus, CEO & Founder of Chiliz and Socios.com, said: “Alameda Research has built the most sophisticated trading systems in the crypto world — a full-scale global operation that can trade on all major exchanges & markets. I’m delighted to be able to plug $CHZ into that operation, and warmly welcome the Alameda team as an anchor partner & strategic investor of Chiliz.”

Fan Token Offering Dates

On top of the Fan Token offering that is happening on 25 August here is the extended schedule for the year. The list excludes big single FTOs so be sure to look out for more dates!

• August 25
• September 22
• October 20
• November 24
• December 14

Many clubs have also interacted with their fans tremendously and here are some of the recent events they did.

• Juventus and AS Roma Fan Token holders appeared via video on LED surrounding the pitch for home games.
• Galatasaray Fan Token holders had their life-sized photos on display at the Türk Telekom Stadium for the final three home games of the 2019/20 Süper Lig season.

There will be many more clubs to come so don’t be disappointed if your favorite club hasn’t come on board yet. Chiliz is also reviewing a staking mechanism between Chiliz token and Fan Token so be sure to look out for that as well.

 

The post Chiliz Launches VISA Debit Card appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Chiliz Launches VISA Debit Card

Ferrum Network, a blockchain-based FinTech company that brings financial products to emerging markets has announced a collaboration with Uptrennd.

Uptrennd will be the latest addition to Ferrum Network’s UniFyre Wallet listing and staking partnerships.

We’re proud to announce @Uptrennd as the upcoming staking & listing partnership

Learn more about the releases in the article below ↓https://t.co/Hg4h2w2qhR

— Ferrum Network (@FerrumNetwork) August 14, 2020

Uptrennd token, 1UP is an ERC-20 token that leverages the core upvoting system and serves as Uptrennd’s digital currency. Besides, the Uptrennd social media platform is known for its incentive structures that reward both content creators and users of the content.

Due to the nature of both projects, this staking and listing partnership is one to keep an eye on.

What can I expect?

Firstly, users now get the opportunity to start staking Uptrennd through Ferrum’s DeFi staking platform.

The relevance of staking has increased in recent times, but it has been reserved for big-cap projects with mainnet, leaving new projects like Uptrennd with no reasonable option to offer staking for their own token. Ferrum Network aims to bridge this gap with its flexible DeFi staking platform for any ERC-20 token. With the platform, users can lock their tokens and earn high yields based on the length of time staked.

Additionally, Uptrennd will be able to choose a staking structure that works for them by deciding on:

• the number of staking pools
• the number of tokens to be staked
• the rewards for each pool
• the timing for early withdrawal

Uptrennd and UniFyre Wallet

A notable benefit for Uptrennd is getting access to all the benefits of a UniFyre Wallet listing. This includes technology like Link Drops, Pool Drops, and Swap Drops.

The Link Drop technology gives users the opportunity to send crypto assets to anyone through different platforms using a single link. These platforms include Telegram, Twitter, WhatsApp, Facebook. As well as, LinkedIn, Reddit, Instagram, Email, and some other social media platforms where links can be posted.

Besides, the Pool Drop technology helps Uptrennd influencers and users send Uptrennd to 100 users at a go using a single link. Thus, making it possible to have seamless contests, AMAs, and other marketing campaigns.

With the Swap Drop technology, Uptrennd users get the chance to carry out risk-free OTC trades using a shareable link.

Advantages to the FRM holders and community

On the other side of the partnership, FRM holders and community have some benefits to watch out for.

Firstly, the listing fees paid in Uptrennd will be allocated to FRM holders with 100,000+ FRM in their UniFyre Wallet.

Additionally, the entire fees paid for the staking platform will be allocated to FRM buybacks.

About Ferrum Network, Ferrum, & UniFyre

Ferrum Network is a blockchain platform that brings financial applications to emerging markets that have products and network utility. The network also has complex financial applications that run on a DAG (Directed Acyclic Graph) system that links to other blockchains and fiat currencies.

Ferrum (FRM) is the native token of Ferrum network. The token is based on the Ethereum blockchain. To boost transaction speed, users need to spend a few FRM tokens for every transaction as an anti-spamming measure. The token burns each time spending is done.

UniFyre is a link to Ferrum’s innovative product line for investing, transacting, exchanging, and storing any cryptocurrencies. The key parts of Unifyre wallet involve instant market trades and risk-free OTC trading. Following connections with Ferrum Network and Infinity DEX, users are able to buy and sell any digital asset at market price in a decentralized way. UniFyre also solves a problem common with most crypto networks, which is the inability to undo a transaction.

Last week, Uptrennd announced its entrance into the De-Fi space. Jeff Kirdeikis, CEO of Uptrennd revealed their plans to roll out multiple De-Fi implementations (one per week) in the coming future.

Uptrennd’s 1UP token is priced at $0.059794 at the time of press, with a 24-hour trading volume of $607,756. 1UP price is up 1168.8% in the last 30 days.

The post Ferrum Network Announce Partnership with Uptrennd appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Ferrum Network Announce Partnership with Uptrennd

The importance of privacy to the blockchain and cryptocurrency space can not be over-emphasized. Hence, the proposed launch of the Lelantus protocol by privacy-focused cryptocurrency Zcoin.

To facilitate the launch of the much-anticipated Lelantus protocol, Zcoin has released details of the protocol cryptographic audit trail. Funded by Zcoin Crowdfunding System (ZCS) community donations, the audit trail was carried out by Jim Miller and Will Song.

Miller and Song are both engineers employed by popular audit firm Trail of Bits.

In April, Reuben Yap, COO of Zcoin had discussed in detail the rudiments of privacy on the blockchain in a YouTube interview with Altcoin Buzz.

Details of the audit result

The results of the audits by Trail of Bits turned out exceptionally well. Apart from a few typographical errors, the entire protocol seems to be in order. According to the audit, the typos were majorly located in the protocol’s academic paper as well as a few inconsequential aspects of the protocol. The cryptographic library audit uncovered two drawbacks on Lelantus. The first was of medium importance while the other was merely informational. The third issue of high severity was also uncovered and it concerns an incomplete integration code. According to the published audit, the Lelantus protocol had no security risk whatsoever.

All bugs on the protocol have been located, fixed, implemented, and reviewed by audit firm Trail of Bits. Furthermore, Lelantus protocol cryptographic library code is also now accessible to the general public. Find out more about the issues located on the protocol and the fixes carried out on them here.

Zcoin revealed that it was pleased with the audit carried out by Trail of Bits. Furthermore, adding that the demeanor, professionalism, and mastery displayed by the engineers who carried out the audit were quite impressive.

According to Zcoin, this cryptographic audit wouldn’t have been possible without the immense support of its community members. Several of them made donations through Zcoin’s Crowdfunding System (ZCS). The platform in total received approximately 5569 XZC from 105 contributors. Some of them include; Aram Jivanyan, Roger Ver, Hakushu, Nico Fritschi, Sebastian Bausch, Poramin Insom, Ivan Brightly, Reuben Yap, David Holliday, Rasikh Morani, Savil, Albert Castellana, etc. This list is far from comprehensive as many of the contributors chose to remain anonymous.

What does the future hold?

Apart from the recently concluded and published audit by Trail of Bits, Lelantus protocol is currently undergoing another cryptography audit. This time, the audit is being carried out by Dmitry Khovratovich of ABDK Consulting and solely funded from Zcoin Development Fund. This audit is absolutely important because instead of focusing on implementation, it is more concerned with the protocol’s actual cryptography. The result of the audit by ABDK Consulting is expected to be ready in about two weeks’ time.

Scheduled to go live before the end of the year, developers are hard at work to ensure the protocol meets up with its intended launch timeline. According to Zcoin, users should expect a Lelantus testnet launch in the coming weeks.

Previously we published an in-depth article of Zcoin Lelantus protocol, as well as the top 5 milestones on its XZC roadmap.

At the time of publishing, Zcoin’s token XZC is priced at $6.99 with a 24-hour trading volume of $19,167,554.

The post Zcoin Publishes Lelantus Protocol Audit Results appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Zcoin Publishes Lelantus Protocol Audit Results

With plans to improve decentralization on its network, Matic has announced the completion of the first phase of its mainnet staking.

The completion of Matic Network Mainnet Phase 1 staking has furthermore ushered in Phase 2 of its mainnet staking.

Phase 1 saw the addition of 11 validators including Dapp partners to the network.

Matic network Dapp partners include:

• $40 billion Indian based tech mogul, Infosys
• Anime-style NFT game, ChainGuardians
• UX improvement solution using meta transactions, Biconomy 
• Top wallet provider, Torus.

Phase 2 is expected to drive more exceptional features on the network. First, the introduction of no less than 25 public validators. With plans to include more in the near future. The platform will also allow individual entities to bid for validator slots.

According to a Twitter post, the current staking results include:

• More than 25% of Matic (app. 813 million) are currently staked
• APR is also currently more than 38%.
• 47.5 million ($1.1) of staking rewards.

1/ Phase 1 of staking is now complete! Onwards to an increasingly decentralized network.

During Phase 1, 11 validators were added to the network, including @InfosysConsltng, @Chain_Guardians, @biconomy & @TorusLabs 🤝

25 additional public validators during the start of Phase 2. pic.twitter.com/oPvGXhNKfy

— Matic (@maticnetwork) August 10, 2020

Matic Network is looking to ensure true and complete decentralization. Every staker on the platform is helping to ensure security is maintained on the platform. Learning to stake and subsequently staking Matic is quite important to the Matic ecosystem. Below is a step by step guide on how to become a delegator on the Matic network.

Becoming a Matic Network Delegator

First and foremost, it is important to note that being a delegator requires no prerequisite. Interested persons only need to have an Ethereum account. Users will also need to have funds in their main Ethereum network to be able to function as a delegator.

Users who stake early (before bonding rates reach 10%) have a high chance of getting a 100% APR.

Who is a delegator?
Delegators are token holders who cannot operate a validator node. They, instead, stake their tokens to a validator and in return earn a percentage of the validator earnings. Since they share validators’ earnings, they also bear any risks the validator might face. The function of a delegator is quite crucial as they are majorly responsible for selecting validators.

Step by step guide

First, you need a Metamask wallet. Choose the Ethereum Mainnet icon on the wallet. Next, is to log in to the network dashboard. Find Matic Network Staking Dashboard here. To use a different wallet, you will need to import your account to Metamask before moving onto the Network Dashboard.

Once login is completed, you will be redirected to a page with a list of validators and their statistics. You will also see an icon that says “Become a Delegator”.

To every validator, there’s a delegate button. Next is to fill in the number of tokens you are willing to stake. Clicking on the delegate icon will confirm the transaction. However, it is important to note that it takes a total of 12 block confirmations to finally confirm all delegation transactions.

Finally, it is important to note that you can either re-stake or withdraw your wallet balance.

Earlier this year, we interviewed Sandeep Nailwal, Co-founder & COO of Matic Network on the Altcoin Buzz YouTube channel.

Find out more about Matic network validator and delegator here. We also recently published a Matic staking guide and the platform also recently partnered with Gitcoin.

The post Matic Network Completes Phase 1 Staking appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Matic Network Completes Phase 1 Staking

Quant Overledger Network recently detailed out the steps one needs to take to participate in the Community Treasury Public Test.

While the process set by Quant Network is comparatively easy, it is still important to follow a step by step guide. In this article, we present one such guide.

Overledger Network – Running TestQNT Payment Channels with Treasury
– How to use Payment Channels with Treasury
– How to approve the Treasury smart contract to start using payment channels
– PC Scripts:https://t.co/YEWQce0jC0https://t.co/ocF2Oo9Uo8#OVN #NetworkofNetworks #QNT pic.twitter.com/v7SH0ltorC

— Overledger Network (@OverledgerNet) August 4, 2020

Basics:

To interact with the treasury, the process needs two Ethereum addresses:

• QNT Wallet: The stakeholder’s wallet holding Quant. You will receive your Testnet QNT here
• Operator Wallet: The stakeholder’s address that can call functions on the treasury smart contracts

The following steps will show you how to

• Lock QNT in the payment channel and escrow deposit contracts
• Off-chain payments process through a payment channel
• Reclaim un-used QNT from the payment channel and escrow deposit

Step 1:

• Sign up to the Developer Program
• Acquire a MApp ID and BPI key to use the associated scripts
• Have Node.js 10 installed

This entire process is detailed out in Github, Interact with the Treasury. Complete all the pre-requisites listed on the page.

Step 2:

Both the wallets will require Ropsten ETH. Add your Ropsten address. Add both the QNT Wallet and the Operator Wallet. You will receive Ropsten Testnet ETH for both the addresses. Note: Do not re-use the input address in Ethereum Mainnet later. Ensure security of your private keys.

Go To the Dev Portal à Manage Wallet à Put both the addresses

Step 3:

Approve the treasury factory smart contract. The smart contract address is given in the tweet below:

2/ You can now interact with the Treasury smart contracts.

The first step is to approve the treasury factory smart contract at address:

0x4a42aa05fb7cd58e9e388c82ec11b811bdf5ada7

to move QNT into your payment channel and escrow deposit smart contract.

— Overledger Network (@OverledgerNet) August 6, 2020

Once you get Testnet QNT, you will need to move it into your payment channel and escrow deposit. This is performed by the treasury factor smart contract.

Rules include:

• Testnet QNT approved <=100, then all will go into the payment channel
• Testnet QNT approved>100, the 100 QNT will go into the payment channel and the rest will go to your Escrow Deposit contract.

Possible ways to approve the treasury factory to take the funds include:

• Via Etherscan wallet integration (e.g; Metamask)
• Via Script
• Through Dev Portal (In future)

Find the scripts and examples of how to interact with the treasury on the Ropsten testnet in the GitHub link.

Step 4:

Start testing payment channels. If your payment channel expires, you can withdraw your QNT from both of your payment channels and your escrowed deposit contract. To do so, you need to send an on-chain transaction to invoke the reclaim QNT function of your payment channel smart contract. State the amount of QNT that you want to withdraw.

Also, refer to the Quant video to get more details.

Quant Overledger Network is the world’s first DLT operating system for Enterprise. It delivers interoperability between different DLTs, business applications, and networks.

Further Reading:

We have extensively covered Quant on our website:

1.Quant Network Review | Overview & Partnerships
2.Quant Network Review | Overledger & Products
3.Quant Network Review | QNT Utility & Tokenomics
4.Quant Network Review | CEO & Team

Check out our most recent coverage of Quant Network on the Altcoin Buzz Youtube channel.

 

The post Guide For Quant Network Community Treasury Public Test appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Guide For Quant Network Community Treasury Public Test

Ontology and Waves have announced a collaboration to develop a cross-chain communication project for decentralized finance (DeFi).

Ontology would be teaming up with Waves an open blockchain protocol and development toolset for Web 3.0 decentralized solutions. This will enable users to build their applications to develop a cross-chain integration.

Guess who's making big moves again!🔷⚡️We're entering a partnership with @OntologyNetwork to enable cross-chain communication between the two protocols and unify their functionality. Check out the numerous advantages provided by the collaboration👇https://t.co/J8ncbRAP0H

— Waves Tech (@wavesprotocol) August 11, 2020

The cross-chain integration will also enable both chains to enhance the collective functionality of the blockchain ecosystems. Ontology would function as one of the target chains for Gravity, which is a decentralized blockchain-agnostic oracle network in the Waves ecosystem.

The high performance, open-source blockchain, will provide valuable data for Waves surrounding cross-chain transactions and token transfer data. As well as external data from oracles or dApps built on Ontology.

Ontology, Waves partnership to offer users extensive features

The partnership between both decentralized technology firms is mainly aimed at offering users new remarkable features.

This includes allowing WAVES token to be used and staked on the Ontology chain. As well as enabling tokens created on the Waves platform to be tradable on the Ontology chain.

Additionally, $ONT and $ONG tokens would be available for transactions in the Waves protocol. They will also be listed on its Waves.exchange and other Waves-based DEXs.

Notably, due to the partnership, all Ontology protocol assets will be transferable on Waves. Furthermore, it would offer developers the ability to develop decentralized applications with cross-chain functionality.

The collaboration will let Gravity data providers deposit in $ONT tokens. Additionally, $ONT can also be used to pay commissions for operations in Gravity.

In their statement, both blockchain firms noted they would continue to collaborate to develop a standard wealth of interoperable, interchain DeFi solutions that would steward the future of the blockchain industry.

About Gravity

Gravity is a decentralized cross-chain and oracle network based on a truly blockchain-agnostic protocol for communication between blockchains. According to a medium blog post, all the types of cross-chain communications are possible due to Gravity. As well as communicating with the outside world, and working with the native token economies.

Gravity provides multi-purpose cross-chain interaction without introducing a native token. The true blockchain agnostic no-token approach creates a more inclusive, open ecosystem while addressing future scaling/stability issues.

Notably, by integrating Gravity with any blockchain network, it automatically gets access to the cumulative functionality and user base of the connected ecosystems.

Impressively, Ontology has taken its mission to achieve global adoption of blockchain technology to new heights. The recent collaborations with partners like Chainlink, which are offering developers and users several unique features.

Checkout AltcoinBuzz Youtube Channel for more on Ontology’s news.

The post Ontology Team up with Waves over DeFi appeared first on Altcoin Buzz.

Source: Altcoin Buzz News
Original Post: Ontology Team up with Waves over DeFi