Archiwa tagu: amount

Why this market veteran is a fan of Cardano and Polkadot?

Altcoins, as a whole, have seen an unprecedented amount of development and adoption over the past year. Altcoin market dominance rose from an almost negligible share to above 55% in the present time.

The post Why this market veteran is a fan of Cardano and Polkadot? appeared first on AMBCrypto.

MicroStrategy Sells $500 Million Notes To Buy Bitcoin

MicroStrategy has successfully sold off $500 million worth of notes (“the notes”) which it announced it was selling on June 8th in a press conference, to buy Bitcoin. The notes were sold to qualified institutional buyers in a private offering in reliance to Rule 144A under the Securities Act of 1933. They were all sold […]

Americans Made a Lot of Money on Crypto Last Year

Interest in bitcoin and cryptocurrencies really surged in America during the peak months of COVID, and now many traders in the United States are seeing that interest lead to profits. According to blockchain analysis firm Chainalysis, Americans have seen their bitcoin holdings return more than $4 billion to initial holders. Americans Love Their Bitcoin While

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AAVE Price Prediction

Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers. Depositors can provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion. This Portal links to the key resources on Aave to understand the fundamentals […]

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Goldman Sachs’ crypto trading desk expands to Ether

After being critical of cryptocurrencies, the Wall Street investment bank officially embraced Bitcoin earlier this year. It’s now expanding its offerings to include Ether.

United States investment bank Goldman Sachs is planning to offer Ether (ETH) derivatives products in the coming months, setting the stage for wider adoption of the second-largest cryptocurrency and marking a significant departure from the institution’s critical stance on digital assets in the past. 

Mathew McDermott, Goldman’s managing director of digital assets, confirmed Monday that the investment bank is expanding into Ether options and futures. In an interview with Bloomberg News, McDermott said institutional demand for cryptocurrencies will continue to grow despite the recent bout of market volatility:

“Institutional adoption will continue. […] Despite the material price correction, we continue to see a significant amount of interest in this space.”

McDermott referenced a survey of 850 institutions last week in which nearly 10% of respondents said they are trading crypto, and 20% are interested in entering the market.

Institutional inflows into Ether products have amounted to nearly $1 billion this year alone, with total assets worth roughly $11.1 billion, according to CoinShares.

Related: Reports suggest Goldman Sachs is now offering Bitcoin derivatives

Goldman launched a limited Bitcoin (BTC) derivatives trading desk in early May. The new outfit is embedded within the bank’s Global Currencies and Emerging Markets division and is overseen by McDermott’s digital-asset unit.

Goldman’s embrace of digital assets goes far beyond its trading desks. As Cointelegraph reported, the bank recently led a $15 million investment round for Coin Metrics, a leading cryptocurrency intelligence platform. McDermott said Goldman is “looking at a number of different companies that fit our strategic direction.”

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

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Should you buy Tezos (XTZ)? Banking on social impact

Tezos (XTZ) has extended its correction from the recent highs. Here are the important support and resistance levels

Tezos XTZ/USD takes advantage of what is known as liquid proof-of-stake (LPoS), and this is important to know when evaluating the value of its cryptocurrency. You see, LPoS is an algorithm that is used by the computers running the Tezos software and is used to secure the network, validate the transactions and distribute newly minted XTZ. 

How XTZ Plays a Role on Tezos

In order for the nodes to participate in the governance, however, they need to stake XTZ in a process known as baking. If you want to be a baker, as a node you’ll need 8,000 XTZ. Users can delegate their tokens to the other bakers and allocate votes to other users so they can earn XTZ rewards. Bakers are incentivized to perform well due to the fact that all users have the flexibility to switch between bakers that they delegate XTZ to, depending on the voting preferences of course.

The XTZ cryptocurrency has a major role when it comes to maintaining the operation of the Tezos network and can be used for holding, spending, sending, or even baking.

Through owning XTZ, as a user, you can get the ability to vote on the upgrades, where each vote is proportional to the amount of XTZ baked. 

So, you now have a general idea of the real value of XTZ and why it’s important, but what does this mean for its price and value in the long term? 

Throughout the entirety of May, new builders, creators, and users contributed to 1.5 million contract calls on Tezos.  

Should you buy XTZ?

In June 9, Tezos had over 283,000 transactions in the span of 24 hours which equates to 23% of ETH’s daily transactions for that specific time frame. The value of XTZ at this time was $3.41.

On June 10, Tezos won an award for the best social impact project of 2021 at the AIBC summit in Dubai. 

We can see that the value remains across the $3 mark, but due to its popularity, recent awards and community engagement it has the potential to yet again rise up to the $5 mark or even beyond by the end of June.

On June 14, XTZ continued to trade just above the $3 level. At $3, it might be worth investing in, and we might even see it go back up to the value of $7 that it had on May 7, when Graph Blockchain Inc. announced that they began proof-of-stake mining of Tezos’s native token XTZ. 

The more popular Tezos becomes, the higher the value it will have, and at $3, with the expectancy of it going back up to $7, it might be a good investment. However, $3 serves as a key support level so if the coin drops below, it might serve as a sign to avoid buying as buyers no longer have interest of buying.

The post Should you buy Tezos (XTZ)? Banking on social impact appeared first on Invezz.

from Cryptocurrency – Invezz

What is Monero and why do cybercriminals love it?

DeFi hacker returns all $25 million of stolen funds

Monero XMR/USD is a cryptocurrency token that gives fraudsters more freedom from the tracking mechanisms and tools integrated by the BTC blockchain. It’s even been dubbed the “privacy token.”

“The savvier criminals are using Monero,” Rick Holland, chief information security officer at cyber threat intelligence company Digital Shadows, told CNBC in an interview.

As you may know, Bitcoin’s public ledger is visible to everyone. That means everyone can see each and every transaction on it. Cybercriminals are turning to currencies with additional anonymity, of which Monero’s not the only one. Dash and Zcash are two more examples.

Monero: ransomware criminals’ cryptocurrency of choice

Anonymity is ingrained in Monero’s DNA. Even its developers, who introduced it in 2014, remain largely anonymous. Its most important aspects are confidentiality and privacy. Monero has its own blockchain, which conceals practically all transaction details. It hides the amount of the transaction, the recipient, and the sender. These features made Monero quite popular on the underground marketplace AlphaBay before it closed down four years ago. Holland added in the interview:

It’s almost like we’re seeing, at least from a cybercriminal perspective, a resurgence … in Monero, because it has inherently more privacy than some of the other coins out there.

There are certain obstacles to mainstreaming this privacy-loving currency. In fact, it’s exactly this privacy-first feature that prevents Monero from becoming mainstream. Many regulated exchanges won’t list it which by default makes Monero less liquid than other coins. 

The Future of Monero

Regulators have every right to tell exchanges that they risk losing their license if they list the Monero coin, according to CNBC. On the other hand, markets enabling peer to peer Monero to fiat transfers tend to be difficult to regulate and it’s safe to say this won’t change any time soon. There’s also the misconception that cybercriminals will remain within U.S. jurisdiction. They could operate from abroad just as easily – much more easily, in fact. 

Cyber criminals can even combine clean coins with illegal funds to create a new type of coin. They can swap the new coin for Bitcoin or to Monero and then use Monero to buy BTC again with the ultimate goal of cashing out their coins to the fiat currency of choice.

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