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MicroStrategy Is Ready To Splash Half A Billion Dollars On The Bitcoin Market

MicroStrategy Wants To Buy An Additional $600 Million Worth Of Bitcoin

Michael Saylor’s MicroStrategy is gearing up to invest nearly half a billion dollars in bitcoin following the close of its offering as it pertains to the sales of senior secured notes. Earlier this month, the company announced plans to sell with a view to funding additional investment in Bitcoin. The press release revealing as much […]

Is DeFi technology easy enough to adapt to non-finance industries?

DeFi gets a bad rap for being complex, technology makes it simple enough to cut out middlemen in non-finance industries ranging from energy to e-commerce.

Uquid

Decentralized finance is far and away the hottest topic in crypto, touted as a way to make a fortune by backing the right token, but also a tool for taking the crypto you were hodling in a cold wallet and set it to work earning interest at extraordinary rates.

There’s a reason DeFi has grown so large so quickly that it has slowed the Ethereum blockchain where most of the projects live to a crawl, and sent gas prices for transactions soaring to $10, $50, even $100 at times.

DeFi is mostly talked about in terms of taking over the banking and brokerage functions that big finance thrives on, but the technology can be used to revolutionize many other businesses, from energy to e-commerce.

That reason is simple: At its core, decentralized finance is about eliminating the middleman.

Why give a bank your money — for a paltry fraction of 1% interest — for it to loan out, when you can loan it out for orders of magnitude more through a crypto lending site?

Or invest it in a liquidity pool that uses an automated market maker to create a shared pot of tokens that cryptocurrency traders can sell to or buy from, rather than waiting to find a trader who wants to buy what they’re selling at the price they want. The way liquidity pools work is that liquidity providers lock funds into pools in exchange for fees paid on each transaction — which are usually paid in an exchange’s native token.

All you’re doing, really, is replacing the institutions facilitating those transactions —the man in the middle of taking it from Jane and giving it to John — with smart contracts that automate both the introduction and the exchange of currency. In other words, it turns a peer-to-business-to-peer transaction into a peer-to-peer transaction.

The difference is blockchain’s immutable nature, which makes it impossible for either side to cheat. Because it is trustless, you don’t need to pay a trusted intermediary to do that for you.

Beyond finance

Financial transactions are the low-hanging fruit for DeFi, as they are very frequent and the value of the currency being traded is so large. That said, DeFi in its trading, staking and yield farming formats can get pretty complex. But, that’s mostly because people are willing to do very risky things like betting on margin with borrowed money.

However, DeFi works for pretty much any data you need to transfer from one party to another. That can be e-commerce, insurance, digital identity, and even electric power — the possibilities are endless. And in most cases, they are fairly simple.

Decentralized energy is raising enough interest that it’s been given its own nickname — DeEn instead of DeFi — even though it also uses DApps and smart contracts, and generally lives on the Ethereum blockchain. Other than removing the middlemen — brokers and utilities — the only real difference is kilowatts instead of kilobytes.

A year ago, German sustainable energy firm Lition launched its blockchain-based, decentralized peer-to-peer Energy Exchange, which lets individual consumers choose exactly which source to buy their energy from inexpensive or green or local power producers — whatever they choose.

It’s up and running, and according to a power industry publication consumers are saving an average of 20% on utilities while power producers are seeing revenue go up 30%.

Decentralizing ecommerce

E-commerce is another field ripe for disruption by DeFi, and one of the companies doing it is Uquid, which is aiming to build a bridge between DeFi and e-commerce.

One way it is doing this is through its Defito Finance arm, which concentrates on shopper loyalty programs using tokens earned with every sale or purchase.

The site pulls in three techniques commonly used in DeFi trading, loaning and mining operations and adapts them to the needs of an e-commerce site.

Shopping mining is a loyalty program that creates and awards newly mined tokens with every purchase from Uquids many online stores, which offer everything from video games and music to subscriptions for streaming services like Spotify and Xbox Live. This uses one of Defito’s native tokens, the DeFi Shopping Stake (DSS). Once mined, these tokens are loaded into a smart contract that lets them be used for future purchases from the Uquid sites, or for staking in the liquidity pools.

Defito’s other token is the DTO, a governance token which can be earned by contributing liquidity to the shopping liquidity pool. Instead of making it possible for cryptocurrency traders to buy and sell tokens, the Defito pools represent digital goods on Uquid’s ecommerce sites ranging from games and business software to gift cards and mobile top-up cards. An automated shopping maker connects pools of goods from different suppliers, allowing token holders to search for and track the best prices for the amount of those goods they wish to buy. These sites accept cryptocurrency in payment.

Both DTO and DSS can be used for staking and payment, but DTO brings governance voting rights, including on whether DSS tokens should be burned to increase their value or used to develop the rewards system.

Another DeFi token is Uquid (UQC), a decentralized ERC-20 token that can be used for a variety of more traditional DeFi services including staking, lending, borrowing and token swaps, as well as goods including utility, grocery, and pharmacy vouchers from chains around the world.

Finally, Uquid has recently added a fourth token for its new NFT marketplace, NFTD. The non-fungible tokens are at the heart of a digital products marketplace where they can be used to provide buyers of digital goods clear ownership rights. It’s a Binance Smart Chain utility token aimed at things like social media content from TikTok and YouTube videos to photographs and music, as well as Uquid’s other digital content.

Learn more about Uquid

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Bware Labs Makes It High-Performance Decentralized Node Network Available to the Public

Bware Labs Makes It High-Performance Decentralized Node Network Available to the Public

Bware Labs, a decentralized infrastructure that provides an interface between Blockchain APIs consumers and node providers, has released the MVP for its platform. According to the announcement, Bware labs has finally shared the MVP with the public or otherwise referred to as a functional prototype. This new development will allow users to set up a […]

Bitcoin Jumps 12% to Eye $40K on Positive Tesla and Taproot News

BTC price reached a high of $39,847 on Coinbase.

Bitcoin price has jumped over 12% to hit a two-week high of $39,847 on US-based crypto exchange Coinbase. The cryptocurrency’s upside towards the recently elusive $40,000 comes as the market continues to react positively to news.

Buyers are looking to hold the gains above support as shown in morning deals on Monday. Bitcoin currently trades at $39,286 on Coinbase.

Bitcoin price broke major resistance at $37k

After finding it difficult to break above $37k due to FUD related to a heightened crackdown on mining in China, BTC added more than $3,400 to its daily candle on Sunday to trade at the highest price level since 26 May.

While the broader recovery could align with other factors across the market, BTC’s value soared just after Tesla CEO Elon Musk revealed that the electric car maker was ready to resume Bitcoin transactions. It follows negative comments from Musk regarding Bitcoin’s energy consumption and impact on the environment.

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” the Tesla chief said.

Bitcoin price jumped nearly 10% following Musk’s tweet and traded higher to establish support above the 20-day simple moving average line ($36,756).

Bitcoin’s upside also comes after miners indicated support for the Taproot upgrade slated for November 2021. The upgrade seeks to revamp the network’s privacy and scripting capabilities.

From a technical point of view, analyst Rekt Capital says the upside might have helped push a potential death cross by a couple of weeks.

BTC/USD daily price chart showing the 50 and 200-day moving averages. Source: TradingView

The death cross happens when the 50-day moving average cuts below the 200-day moving average. It is a bearish signal that usually suggests further price correction, and as seen on the price chart above, BTC/USD was likely to make the cross if the 50 DMA continued to slope towards increasing 200 DMA.

“Fantastic upside movement from #BTC lately. The $BTC breakout has pushed back the potential Death Cross by two weeks.  Price increases from here would further postpone it,” the analyst pointed out.

And if $BTC is able to rally above $55K-$60K soon, then BTC could avoid the cross altogether.”

The post Bitcoin Jumps 12% to Eye $40K on Positive Tesla and Taproot News appeared first on Coin Journal.

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Elon Musk’s ‘50% Clean Energy’ Bitcoin Mining Goal Will Be Complicated To Verify

Elon Musk's '50% Clean Energy' Bitcoin Mining Goal Will be Complicated to VerifyOn Sunday, Tesla’s CEO Elon Musk tweeted that when there’s “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.” However, there’s a big problem with this goal, as nobody knows exactly how to measure 50% clean energy usage let alone precisely where miners are geographically […]

Top 5 Crypto Exchanges For Margin Trading – Compared

There is the saying that – the higher the risk, the more profitable the output. The saying can be true, however, there should … Read more

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