Ethereum (ETH) dominates in on-chain activities as it generated $163.7 million in fees in the last 30 days against the $133.4 million recorded by Solana (SOL).
Ethereum also recorded an on-chain volume of $149.9 billion, outshining BNB Chain, which has a lower transaction fee.
Ethereum (ETH) is struggling to retest its crucial resistance level at $3.2k as it declined by 1.6% in the last seven days. However, its on-chain activities look positive. In the last 30 days, Ethereum’s on-chain volume surged to $149.9 billion.
According to our research, this outpaced close competitors like the BNB Chain which only managed $26.6 billion despite offering lower fees. Specifically, ETH saw its transaction activity growing by 37.7% against the 6.6% recorded by the BNB Chain.
Within the period under review, Ethereum faced tough competition from Solana (SOL), which recorded an on-chain volume growth of 83%. According to our research, this contributed to the $8.3 billion Total Value Locked (TVL) witnessed by Solana. Despite leading deposits with $59.4 billion, Ethereum was outpaced by Solana in terms of decentralized exchange (DEX) volumes.
In the aspect of fees, Ethereum dominated with a fee generation of $163.7 million over 30 days. According to DefiLlama, Solana also recorded $133.4 million in fees, taking the second position. Interestingly, Tron generated $51 million in fees, coming third in that category. Meanwhile, the three leading Decentralized Applications (dApps) on Solana – Raydium, Jito, and Photon also had a fee generation amount of $338.5 million.
Source: DappRadder
Ethereum (ETH) and Solana (SOL) On-chain Performance
In our research, we discovered that Solana users barely benefitted from the success of its stakes and investors. Its annual staking reward of 6.2% and equivalent SOL inflation of 5.2% implies that the adjusted gain is very small.
Ethereum, on the other hand, offers a 3.3% annualized reward rate while its equivalent ETH inflation rate stood at 0.7% or lower.
Source: StakingRewards
According to analysts, Ethereum’s 2.6% adjusted return is more attractive than Solana’s 1%, unlocking institutional interest to maintain its dominance in TVL. However, its main issue is reported to be the lack of a clear strategy for achieving scalability without affecting the layer-2 ecosystem. Even that, Ethereum 3.0 is expected to reintroduce “sharding and leveraging a zero-knowledge Ethereum Virtual Machine (zkEVM) at the base layer” to improve scalability. This was disclosed by Consensys CEO Joe Lubin.
The interesting thing about that is that way of using layer 1 wasn’t possible a few years ago when we discarded the idea of execution sharding; what we needed to do was throw open this divergent exploration and a lot of stuff came back…You’re just boiling down a giant amount of computation at different layers and amortizing a lot of computation into a single transaction. If you do that every two seconds or less, then you get a lot of transactions per second.
At press time, ETH was trading at $3,100. However, its daily trading volume was 19% down with $28 billion changing hands.
NOW Wallet offers a one-stop solution for buying crypto with fiat, staking PoS coins, cross-chain exchange, NFTs management, and B2B crypto integration.
Where security meets accessibility: What to know about NOW Wallet
NOW Wallet is a secure and intuitive cryptocurrency wallet with DeFi and NFT functions that makes Web3 experiences easier for newcomers and pros.
NOW Wallet, a cryptocurrency wallet of ChangeNOW’s NOW ecosystem, launched in beta in 2021 while mainnet operations started in June 2022;
Powered by the WalletConnect protocol, NOW Wallet offers crypto storage and transfer instruments for 50 coins and thousands of tokens across seven various blockchains;
NOW Wallet’s toolkit features a seamless crypto exchange module, a “Buy/Sell” instrument with fiat support, crypto staking and NFT managing options;
Its B2B version unlocks impressive opportunities for integrating crypto assets into e-commerce.
NOW Wallet is natively integrated with Web2 economy as it supports fiat payments with Visa/Mastercard, digital payment operators like Apple Pay/Google Pay and so on.
NOW Wallet is available in the form of a desktop application and smartphone apps, which makes it suitable for users with various strategies.
What is a crypto wallet?
Cryptocurrency wallet or crypto wallet is a software service needed to store, receive, send and, in the majority of cases, exchange cryptocurrencies. Basically, it is an interface for the pair of private and public keys from a certain account in blockchain.
On centralized wallets, private keys are stored by the platform, while decentralized (non-custodial) wallets encourage their clients to save private keys and be solely responsible for them. The majority of traders use their accounts on centralized exchanges as crypto wallets.
Cryptocurrency wallets in 2024: B asic components
Despite there being plenty of designs in the crypto wallets sphere, some key components remain necessary.
Key storage. As we mentioned previously, a crypto wallet should either be responsible for keys or allow users to save them;
Exchange module. Modern cryptocurrency wallets have built-in protocols for exchanging cryptos;
Fiat support. Most advanced wallets are integrated with bank cards, digital payments and even wire transfers for secure and streamlined crypto-to-fiat conversion;
NFTs operations. Since non-fungible tokens remain a popular digital asset class, most convenient wallets offer easy-to-use NFT dashboards.
Also, crypto wallets might have dedicated solutions for staking, airdrops, yield farming, portfolio tracking and so on.
What is ChangeNOW and NOW ecosystem?
Centered around the ChangeNOW crypto exchange service, NOW is a holistic ecosystem of cryptocurrency products for individuals and businesses. Its B2C products stack includes ChangeNOW itself, NOW Wallet and the NOW Tracker app.
Related
Business solutions by ChangeNOW include the NOWNodes crypto APIs platform for dApps and the NOWPayments processor of digital asset transfers as well as NOWCustody asset storage solution and NOW Launchpad for early-stage cryptos.
The ecosystem leverages NOW as its core utility token and backbone rewards element.
Inside NOW Wallet, one-stop crypto wallet with staking, swaps and NFTs
NOW Wallet is a powerful and secure crypto wallet with an intuitive interface and an industry-leading range of blockchains supported. In 2024, it offers a comprehensive scope of instruments for a safe journey in blockchain and DeFi.
NOW Wallet: Highlights
NOW Wallet is a multi-blockchain, non-custodial, no-KYC cryptocurrency wallet with built-in exchange, staking, buy/sell crypto and NFTs functionalities. Since its launch in 2021, NOW Wallet has been an integral part of ChangeNOW’s NOW ecosystem of digital economy services.
NOW Wallet leverages the opportunities of the Wallet Connect ecosystem offering seamless access to 50+ coins and 15,000 tokens.
NOW Wallet prioritizes non-custodial access to crypto: the platform doesn’t store private keys or assets to offer the ultimate level of security. NOW Wallet users are ones responsible for keys management which significantly reduces the attack surface and is aligned with ethos of decentralization.
NOW Wallet is available as a desktop application for macOS, Windows, Linux as well as a smartphone app for iOS- and Android-based devices. The wallet prioritizes accessible and inclusive UX/UI to make the first steps in crypto easier for newcomers during this bull run.
Buying crypto with fiat on NOW Wallet
First of all, NOW Wallet offers a fast, convenient and cost-effective way to purchase your first cryptocurrency with traditional fiat-based payments tools. The platform supports over 60 fiat assets, including USD, EUR, GBP, CHF and all major regional currencies.
NOW Wallet is seamlessly integrated with the bank transfers module, card payments gateway for Visa and Mastercard. Also, it accepts fiat currencies from Google Pay and Apple Pay accounts. NOW Wallet cooperates with leading crypto-to-fiat payment processors for most attractive rates, but keep in mind that these services require users to undergo KYC verification before initiating an exchange.
Exchanging crypto on NOW Wallet
Besides a storage and transfer facility, NOW Wallet offers an understandable and newbie-friendly exchange module. It allows swapping between thousands of tokens on seven mainstream blockchains with no KYC checks. The NOW Wallet exchange is supercharged by ChangeNOW, NOW ecosystem’s first crypto exchange with a powerful cross-chain swaps engine.
Besides that, NOW Wallet is suitable for staking some PoS cryptocurrencies with no extra services involved. NOW Wallet users can stake their tokens and receive rewards on a single account for maximum resource-efficiency.
Managing NFTs on NOW Wallet
NOW Wallet is one of the most powerful cryptocurrency wallets with support of non-fungible tokens (NFTs) across mainstream standards like ERC-721, ERC-1155 and Solana’s standards. BSC-based NFTs will also be added soon.
Thanks to a clear and intuitive interface, the NFTs dashboard by NOW Wallet might be the first go-to service for newcomers in this thriving segment.
Enhancing business opportunities with NOW Wallet
For businesses interested in cryptocurrency integrations, NOW Wallet offers a personalized approach to help partners achieve their specific business objectives. NOW Wallet creates powerful and high-performance crypto payment gateways for gaming, influencer marketing, e-commerce, RWAs issuers and so on.
Besides secure storage and management of cryptocurrencies, NOW Wallet invites all partners to engage in collaborative marketing activities. Teams are able to enjoy fast deposits and withdrawals on NOW Wallet’s B2B instruments.
Bonus: What is ChangeNOW Pro and who needs it?
By joining the Pro ecosystem, new customers gain access to an unmatched toolkit of premium offerings on ChangeNOW and NOW Wallet. As of Q4, 2024, there are one million Pro accounts on both services.
With Pro, cryptocurrency users can enjoy cashback on their operations, utilize their own domains for accepting crypto, benefit from an advanced asset protection regime, earn interest on loans and so on. The most affordable paid packages of Pro mode are only available for $15 per month, which includes 0.1% cashback for any exchange transaction, a 15,000 NOW limit monthly, 40 anti-money laundering checks in a month, a customized domain name and so on.
Alongside that, all key features and instruments, except private webpages, are available for Free package users.
Closing thoughts: How to explore bull run opportunities with NOW Wallet
Developed by industry veterans, NOW Wallet is a multi-blockchain cryptocurrency wallet of ChangeNOW’s NOW ecosystem. It offers a seamless and intuitive interface for crypto storage, staking, NFTs, cross-currency swaps and crypto purchasing with fiat money.
NOW Wallet leverages the ecosystem token NOW and unlocks crypto integration opportunities for businesses.
SEED releases a video daily where users can learn about blockchain and cryptocurrency while earning rewards. Each day, a new YouTube video contains a hidden code. By identifying and entering this code in the SEED app, users can claim reward points.
Today’s SEED Video Code For November 20, 2024
The video released today is titled “#14 SEED NFT Introduction”, and the code for this video is MARKETMAKER.
Users can watch the video in the “Academy” section of the SEED app or on SEED’s YouTube channel. Entering the code allows users to earn reward points that are added to their SEED balance.
Recent SEED YouTube Video Codes
If you have missed previous codes, here is a list of all recent video codes that you can use to earn SEED points:
Learn Blockchain in 3 Minutes – Code: Blockchain
Crypto vs Blockchain – Code: Cryptocurrency
Hot vs Cold Wallet – Code: Wallet
What is Airdrop? – Code: Airdrop
Coin vs Token – Code: Tokens
What is TON? – Code: Ton
News Affecting the BTC Price (November 5) – Code: BTCTOTHEMOON
On-chain vs Off-chain #8 (November 6) – Code: TRANSACTION
Bullish and Bearish #10 (November 12) – Code: BULLRUN
In addition to the YouTube video codes, SEED offers several other opportunities for earning rewards:
Daily Login Bonus: Users receive rewards for logging into the SEED app regularly.
Engaging with Social Media: Subscribing to SEED’s Telegram and YouTube channels provides additional earning opportunities while keeping users informed.
Community Participation: Joining blockchain communities like GameFi.org allows users to engage with others and earn rewards.
SEED’s referral program allows users to invite friends and earn rewards. Both the inviter and the friend receive rewards for joining, and the inviter earns a percentage of the friend’s future rewards:
Regular Referral: Both participants earn 2 points, and the inviter receives 10% of the friend’s rewards.
Telegram Premium Referral: Both participants earn 10 points, and the inviter receives 20% of the friend’s rewards.
Zambia: The Development Aid From People to People in Zambia (DAPP) has asked the government of Zambia to support the reduction of Tuberculosis. The healthcare stakeholders have been working hard to spread awareness about the disease.
The officials have shared that managing this disease is a significant priority for the government and people of Zambia. The officials have shared that it is important for the healthcare stakeholders to support the community in managing this crisis.
The medical experts have shared that better funding into the development of infrastructure for managing the disease will help in ensuring that lesser lives are lost to this health issue. The disease is preventable with medical intervention and timely treatments.
However, it is also significant to note that several communities within the district do not have access to preventive measures and infrastructure.
As such, the government has been asked to step and support initiatives aimed towards the reduction of Tuberculosis (TB) incidence and mortality in Zambia. The disease affects the lungs of a patient and can cause permanent long term damage in case it goes untreated.
Children form a significant part of the country’s statistic which is a significant cause of concern for the people. DAPP Resource Mobilization Officer Jabez Kanyanda says that every year the country records 59 thousand cases of TB. Out of this number 10 percent cases are recorded among the children.
He made these remarks during the TB reach project conference held in Lusaka
According to Kanyanda since they are recording increments in the number of TB cases, the funding toward ending it should also increase. The conference was also attended by other stakeholders working towards elimination of TB
Speaking at the same event Zambia Institute of Mass Communication (ZAMCOM) Lecturer Bestone Ngonga has also asked the media to help in spreading awareness about TB within the communities
Ngonga disclosed that citizens in the community living with TB get stigmatized because of lack of knowledge about the disease. Meanwhile Roster Daka, a mother of a baby who survived from TB thanked DAPP and stakeholders for the TB reach project.
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The makers of the popular Ethereum-based combat arena game Moonray announced they will release free-to-mint non-fungible token-based skin characters. The web3 arena battler game has integrated Base, an Ethereum layer-2 scaling blockchain network, to launch its latest NFT project. This integration will bring new features such as in-game NFTs, character skins, and token wagering, offering players true ownership of their in-game assets.
Moonray Sets To Launch NFT Skins Today, November 19
In a November 19 blog post, Moonray confirmed plans to launch a new non-fungible token collection exclusively on the Base Layer 2 blockchain network. This highly anticipated NFT collection is set for minting Today, November 19, 2024. It will be available for only 48 hours exclusively on OpenSea, one of the leading Ethereum-based non-fungible token marketplaces.
Unleash the power of Jadeon Adam, an exclusive character skin crafted in partnership with @Base and @opensea!
This unique skin embodies the mystic energy of Moonray’s post-human universe. Minting is open for 2 days only—1 per wallet, unlimited supply! Stand out amongst the gods… pic.twitter.com/xjQCSPxksN
Moonray is a renowned fast-paced and third-person multiplayer combat game set in a surreal, post-apocalyptic sci-fi universe. This science fiction game allows players to engage in combat solo or with a team. Additionally, Moonray offers crypto players additional tactical choices with dodging, parries, and some ranged attacks as well. It also allows players to access grappling abilities, allowing them to close distance quickly to their opponents in bad gaming situations.
Moonray leverages cutting-edge technologies to create a visually stunning and immersive gaming experience. The foundation of the game is built on Unreal Engine, renowned for its ability to render high-fidelity graphics and create realistic physics simulations. The game is integrated into blockchain technology, specifically the Ethereum blockchain network, letting it create a decentralized in-game economy.
The web3 arena battler game is seeded by venture capital firms and notable companies, including Animoca Brands, Cordano, P2 Ventures, Long Hash Ventures, and more. The joint team has raised a valuation of $8.5 million. By fusing gaming, NFTs, esports, and traditional media, Moonray anticipates building a comprehensive gaming ecosystem that appeals to a broad audience.
Integrating the Base Layer 2 blockchain network is just one step in a broader strategy to innovate and connect the gaming and blockchain worlds. Moonray’s integration with Base will enable a token-based wagering system, building on the eSports aspect of the game. While commenting about the NFT project and the new integration, Hans Andersson, CBO and co-founder of Moonray Studio, remarked:
“To achieve broad adoption, you need to focus on the gamer and what brings value to them. In-game cosmetics are nothing new and something the vast majority of gamers enjoy. The Base blockchain allows us to offer true ownership of those digital items, giving players the flexibility they deserve.”
How Can You Claim Moonray’s Today NFT Mint?
The now highly anticipated NFT mint is set to go live today, November 19, 2024. The NFT mint event will allow collectors to unleash the exclusive power of Jadeon Adam, a unique avatar usable in the arena combat game. The mint will last two days, and the NFT skins will be available for purchase and trade on the OpenSea NFT marketplace. This limited-time NFT event allows players to own exclusive NFT skin characters essential to their gaming experience.
Related NFT News:
Most Searched Crypto Launch – Pepe Unchained
Layer 2 Meme Coin Ecosystem
Featured in Cointelegraph
SolidProof & Coinsult Audited
Staking Rewards – pepeunchained.com
$10+ Million Raised at ICO – Ends Soon
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DeFi Investments Up with Polygon Labs, Lunex Network and Solana seeing Huge Increases h3>
As DeFi crypto investments surge, projects like Polygon Labs, Lunex Network, and Solana are grabbing investor attention with significant developments and growing user engagement. With new features, strategic partnerships, and promising presale token offerings, each platform showcases its unique strengths in the evolving DeFi landscape. Here, we’ll break down the latest updates from Lunex Network, Polygon Labs, and Solana, revealing why Lunex Network might be the top DeFi investment opportunity today.
DeFi Crypto Token Lunex Gains Momentum
Lunex Network is a strong contender in the DeFi crypto market, attracting investors to its presale token with a remarkable $2.4 million raised so far. At an entry-level price of $0.0026, Lunex is a promising opportunity for those looking to enter the DeFi space early. The presale token features a deflationary model, where regular token burns aim to reduce the supply over time, potentially increasing its value as demand grows.
Lunex offers access to staking options and also aims to provide a stable passive income through decentralized finance. The project’s focus on community and practical utility sets it apart as a presale token worth watching. As DeFi crypto continues to expand, Lunex Network’s accessible price and focus on user engagement and passive income could position it as a leading DeFi asset in the future.
Polygon Labs: Boosting DeFi through Strategic Partnerships
Polygon Labs has been making waves in the DeFi crypto sector through innovation and powerful collaborations. Polygon hosted the AggLayer Summit in Bangkok, where industry leaders gathered to explore solutions for blockchain interoperability and scalability. This summit showcased Polygon’s commitment to advancing DeFi crypto by tackling the issues of cross-chain integration and user-friendly DeFi applications. Polygon’s token, POL, has seen impressive gains bolstered by these partnerships and its reputation for scalable DeFi solutions. As a DeFi crypto with a strong ecosystem, Polygon’s continued growth in Web3 integration solidifies its role as a DeFi frontrunner.
Solana: High-Speed Transactions and Rising Demand in DeFi
Solana has been another standout in the DeFi crypto space with its efficient transaction speed and appeal within the meme coin community. The Solana price surged past $200, fueled by renewed market interest following Trump’s election victory. Investors have flocked to Solana not only for its utility in DeFi applications but also for its capability to support high-profile meme coins.
The MV Global Q4 2024 Crypto Investment Survey showed that 33% of fund managers predict Solana’s value could climb as high as $600 in the next bull run. This optimistic outlook for Solana positions it as a significant force in DeFi crypto, particularly as it advances its applications in Web3. With new ventures like the Solana Seeker Web3 smartphone, Solana continues to innovate in ways that attract both developers and investors alike.
Conclusion: Lunex Network – The Top Choice for DeFi Investments
While Polygon Labs and Solana have shown notable progress and strong market presence, Lunex Network stands out as a presale token with unique growth potential in DeFi crypto.
As the DeFi landscape continues to evolve, Lunex Network’s presale token provides a promising choice for those seeking the next big investment in DeFi crypto. For investors aiming to secure their spot in a promising project, Lunex Network’s accessible price and innovative approach to decentralized finance set it apart as one to watch in 2025.
You can find more information about Lunex Network (LNEX) here:
Solana DApps featured prominently in the top fee rankings.
SOL has continued to trend upward.
The increased activity that Solana [SOL]memecoins are seeing recently has impacted the ecosystem.
Data showed that various decentralized applications (dApps) in the ecosystem have recently seen an increase in fees. Also, SOL has continued its positive moves.
Soalana memecoins push fees on DApps
Recent data from DefiLlama revealed a sharp rise in fees generated by Solana’s decentralized applications.
Raydium [RAY], a prominent dApp on the network, recorded over $69 million in fees over the past seven days, making it the second-highest earner behind Tether [USDT].
Solana itself secured the third spot with over $49 million in fees, while other DApps like Jito and Photon also ranked among the top ten.
Notably, Pump.fun, a platform hosting many trending Solana memecoins, claimed 11th place in fee generation.
At press time, PNUT boasted a market capitalization of over $1.6 billion, while GOAT’s market cap stood at $1.1 billion.
Both tokens have experienced significant growth in trading volume over the past 24 hours, signaling heightened user engagement and transaction activity within the ecosystem.
Market cap of Solana memecoins surge
The market cap of Solana memecoins has seen notable growth, with an increase of over 10% in the last 24 hours, bringing the total to more than $21.8 billion, according to CoinGecko.
dogwifhat [WIF] led the pack with a market cap of over $3.7 billion, followed by Bonk [BONK] at $2.8 billion, and PNUT in third place.
These tokens have not only dominated the memecoin space but have also recorded an uptick in trading volumes, reflecting increased user interest and activity.
The rising transaction volumes have contributed to the observed spike in fees across Solana’s ecosystem, further emphasizing the impact of memecoins on the network.
SOL maintains strong upward momentum
Solana’s native token, SOL, continued its bullish rally, climbing 4.48% to trade at $248.16 at press time.
The daily chart highlighted SOL breaking through key resistance levels, supported by a surge in trading volumes exceeding 515,000.
Source: TradingView
Technical indicators affirmed the upward momentum.
The MACD showed sustained bullish pressure, while the RSI remained elevated at 76.77, signaling an overbought condition but reinforcing the positive market sentiment.
As the memecoin trend drives activity across the Solana ecosystem, SOL appears well-positioned for further gains, backed by increased transaction volumes and network growth.
The combined impact of memecoins and bullish market conditions has solidified Solana’s uptrend.
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Let’s check out what’s going to happen at the YGG event this week.
Plus the latest crypto news stories in the last 24 hours.
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
Bitcoin (BTC): $91,453.70, up 0.9% over the last 24 hours.
Ethereum (ETH): $3,149.32, up 1.2% over the last 24 hours.
Solana (SOL): $241.10, down 1.4% vs the previous day.
Trending Coins Update
Dasha: $0.186, up 84.7% vs the previous day.
Hedera: $0.1509, up 35.2% over the last 24 hours.
Mantra: $3.88, down 3.88% vs the previous day.
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For the daily price update, check out our post on Facebook.
Weeklong YGG Play Summit Begins Today
YGG’s annual event, now called the YGG Play Summit is now ongoing at SM Aura in BGC. Here are some key details to look forward to this week. Our correspondent Michael Lance is already on the venue for a first look.
Why go to the event: The YGG Play Summit will provide web3 gamers a chance to discover the latest in blockchain gaming, connect with industry leaders, and gain strategies for gaming in web3.
Key Details:
Happening from Nov. 19 – 23, 2024
Most of the events are going to happen at SM Aura.
Nov. 19 (Today): Welcome Fair, Welcome Dinner, Arena of Faith and Anichess Tournaments.
Nov. 20: Industry Day: This is the conference proper of this year’s YGG event.
Co-Founders Gabby Dizon and Beryl Li will be onstage along with other key speakers such as Jesse Pollak of Base, Jihoz of Axie Infinity, and Luke Barwikowski of Pixels
Also on this day is the premiere night of the Metaverse Filipino Worker film.
Nov. 21: Founders Day: More panel discussions on this day. The Sandbox’s Sebastien Borget, Yey’s Peter Ing, and more from YGG will be on stage.
Nov. 22: Gamer Expo: Members of the wider YGG community and partners will be showcasing web3 games.
Nov. 23: Gamer Expo continues as well as the showcase for the GAM3 Awards.
Bayanichain CEO Paul Soliman shared that he met with the Land Transportation Office (LTO) to discuss blockchain use cases.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
Polymarket bettorsraised the odds of Cantor Fitzgerald CEO Howard Lutnick becoming Trump’s Treasury Secretary pick after Elon Musk endorsed him.
At ETHGlobal’s hackathon in Bangkok, 10 finalists showcased innovations in AI agents, DAO tools, crypto games, and more.
Manifold Finance’s token, FOLD, plummeted 98% from its peak, amid frustration over the founder’s silence, missed deadlines, and poor product performance.
Educational Corner 🎓
Get ready for a possible airdrop. Learn about the new game of Bybit, SpaceS.
It is a game within the Telegram Mini-Apps Ecosystem that allows players to farm points.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
Senator Cynthia Lummis proposed converting part of the U.S. Treasury’s gold reserves into Bitcoin to create a strategic reserve.
Crypto.comacquired Fintek Securities Pty Ltd., an Australian brokerage firm, to expand its financial offerings.
Coinbase CEO Brian Armstrongsupports the U.S. Department of Government Efficiency (DOGE).
Meet Jonathan Tinoco (Linkedin): He has been recognized for his contributions to the blockchain, crypto, and web3.
He is the Founder at Museigen.io.
He received the “Most Innovative Entrepreneur in Crypto and Web3 Events Marketing 2024 Award” at the Wiki Finance Expo 2024.
Draper Associatesinvested in Torram to advance institutional-grade decentralized finance (DeFi) on Bitcoin.
MetaHub Finance partnered with D-Ecosystem, a Layer 1 blockchain platform, to advance Web3 and decentralized finance.
PancakeSwap launched a Telegram Swap Bot, allowing users to easily trade over 3,000 tokens on the BNB Chain directly within the messaging app.
The future of web3 is gaming, and here are the latest news.
Immutable reported a 71% year-over-year growth in 2024.
Wild Forest is launching its $WF token sale in two rounds on December 3rd and 5th, offering exclusive allocations for stakers and NFT holders with special perks.
Gunzilla Games announced the $600,000 All Stars 2024 Invitational for Off The Grid, featuring top streamers like xQc and Scump, starting November 20th.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!
Stay Connected:
We’d love to hear from you! Reply with your thoughts or questions.
Cardano is about to launch a bridge based on the Grail protocol, which could be the first step towards enabling decentralized finance (DeFi) applications secured by Bitcoin. On October 24, Emurgo, the development team behind Cardano, announced a partnership with BTCOS, the developer of Grail, to create this integration.
At the time of writing, Cardano was trading at $0,7454, up 0.8% over the past 24 hours.
The following day, Cardano founder Charles Hoskinson clarified that the network will eventually host Bitcoin-backed DeFi applications. He added: “With Babel fees, Bitcoin developers can build hybrid Cardano/Bitcoin applications on Aiken and pay their transaction fees in Bitcoin.”
Some Bitcoin users have expressed skepticism that DeFi applications can be secured by the Bitcoin network. Critics have pointed out that previous “Bitcoin layer 2” solutions did not allow users to withdraw their bitcoins without the consent of the network operator, suspecting that the new Cardano/Bitcoin hybrid network will follow suit.
However, Grail documents indicate that it allows Bitcoin users to withdraw their funds from Cardano without the need for validators’ consent.
Grail was inspired by an earlier idea called “BitVM,” described by developer Robin Linus in a 2023 white paper. That paper proposed that an “optimistic rollup” of Bitcoin, similar to Ethereum’s Optimism, Base, or Arbitrum, could be created through a server that commits to either “0” or “1” for each bit of data stored. This would allow simple games like chess, go, or poker to be run on Bitcoin using such a system.
Grail’s white paper, published in April, states that Grail “builds on the BitVM paradigm.” The original BitVM system created billions of complex transactions that would ultimately make its bridge impractical to use. To reduce this complexity, Grail uses zero-knowledge (ZK) proofs to reduce the amount of data that needs to be stored in Bitcoin.
The result is a system that allows users to deposit Bitcoin into the layer 2 network without having to trust the security of that network. This means that users could withdraw their Bitcoin from Cardano even if Cardano nodes were compromised by a malicious actor.
Despite the implementation of the bridge, developing Bitcoin-secured DeFi applications could take time. In a now-deleted post, Hoskinson mentioned that developers would need to be trained in Cardano’s Aiken programming language to create these hybrid Bitcoin/Cardano applications. Since most Ethereum DeFi developers are trained in Solidity, this means that new applications cannot be created by simply copying and pasting Ethereum code; they will have to be written from scratch.
In a recording shared by a user, Hoskinson stated: “It’s going to be a huge amount of work, it’s a huge effort, and there’s going to be wallet integrations and all these things that need to happen.” He went on to say that the work is worth it because “there’s $1,5 trillion in the Bitcoin space.”
Edan Yago, co-founder of Grail developer BTCOS, explained that in order to take malicious control of the Grail system, it would be necessary to own 100% of the nodes. He said this represents a “stronger security assumption than Bitcoin,” since Bitcoin relies solely on the assumption that the “majority of miners [or hash power]” are honest.
Yago believes that the bridge offers better security than current Bitcoin pegging systems and that creating a more secure system is necessary given the trillions of dollars in capital tied up in Bitcoin. He added: “Most BTC is dormant today because holders don’t want to trust third-party centralized entities that provide bridges/wrapping to other blockchains. We believe that a vault or bridge like Grail — secured by zero-knowledge cryptography and a network of Bitcoin miners — could be the most secure crypto-native vault solution that holders will more readily trust before putting their BTC to work.”
Another solution that seeks to secure DeFi applications using the Bitcoin network is called “OP_CAT.” However, it would require a soft fork of Bitcoin’s node software, which some Bitcoin nodes are reluctant to do. Even so, StarkWare CEO Eli Ben Sasson defended the change and predicted that it will be implemented “within the next 12 months.”
When asked about OP_CAT, Yago said that its implementation “does not materially change the security assumptions of the bridge.” He does not support adding OP_CAT to Bitcoin, as he believes it is “quite risky.” Yago explained, “OP_CAT can quickly become very onerous in terms of transaction size, and even chains like Fractal, which forked Bitcoin with OP_CAT enabled, are finding that it brings its own complexities to work around.” Still, he stated that if OP_CAT were implemented, “it might change the architecture of how you can do zk verification on Bitcoin, but [it] would not materially change how the bridge would work.”
Disclaimer:The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
With $1 million going to player rewards, this highlights an industry shift toward rewarding players and fostering an engaging, community-driven gaming experience
SYDNEY, Nov. 18, 2024 /PRNewswire/ — Immutable, the leading web3 gaming platform and ecosystem, and Yield Guild Games (YGG), the web3 guild protocol, have announced a strategic partnership and a $1 million commitment to reward players through questing incentives. This collaboration brings together the strengths of both platforms to deliver new earning opportunities for players, developers, and guilds, creating value for the entire web3 gaming ecosystem.
As part of this strategic alliance, Immutable and YGG are focused on expanding game offerings and enhancing player engagement within a seamless, user-friendly ecosystem. YGG will introduce Immutable games to its community, opening up new opportunities for players. To further enhance user experience, YGG will integrate Immutable’s Passport, a user-friendly self-custody wallet solution, and zkEVM scaling solution in early 2025.
To further the collaboration, Immutable is sponsoring many facets of the YGG Play Summit including as the Platinum Sponsor for the YGG Play Summit, sponsoring the YGG Hangout, and sponsoring the first in-person GAM3 Awards ceremony taking place in Manila on November 22.
“Our integration with YGG is a pivotal moment in the evolution of gaming,” said Robbie Ferguson, Co-Founder and President of Immutable. “This partnership and investment will empower players to experience the true potential of web3 gaming in flourishing ecosystems. Together, YGG and Immutable believe in the scalability and future of web3 gaming, and we’re committed to supporting thriving communities for all users.”
“This partnership with YGG and Immutable is about sharing real rewards with players,” said Gabby Dizon, co-founder, YGG. “Meaningful rewards drive engagement and build loyalty in our community. This is more than just incentives; it’s about giving our players and guild members ways to thrive in the games they’re passionate about and grow together in the web3 space.”
This $1 million commitment underscores the shared vision of Immutable and YGG to redefine gaming by prioritizing players and communities. Together, they are paving the way for a more inclusive and sustainable future for web3 gaming.
About Immutable Immutable is a global leader in gaming on a mission to bring digital ownership to every player by making it safe and easy to build great games with blockchain technology. Co-founded by James Ferguson, Robbie Ferguson, and Alex Connolly in 2018, Immutable is headquartered in Sydney with a 250+ team, and backed by top transformational tech investors like Temasek, Tencent, Coinbase, BITKRAFT Ventures, King River Capital, Galaxy Interactive and more.
The Immutable gaming platform makes it easy for game studios and independent developers to safely and confidently build and launch successful games on Ethereum. The product suite includes pre-built solutions, optimized for usability, that help developers get to market faster without sacrificing security or player experience. Builders get personalized web3 guidance, live support for their communities, and access to the largest ecosystem in gaming.
Immutable was the first gaming platform to deliver a zero-knowledge (zk) scaling solution to the Ethereum community and provides developers with multiple zk-based scaling options, including Immutable X, a rollup based on StarkWare technology, and Immutable zkEVM, powered by Polygon.
Immutable Games is a global leader in web3 game development and publishing, backed by a world-class team who have proven track records of bringing games to millions of players. The studio pioneered the world’s first blockbuster NFT trading-card game Gods Unchained and is currently building the highly anticipated mobile RPG Guild of Guardians. Alongside its own high-quality titles, Immutable Games partners with third-party game developers to provide them with best-in-class strategy and execution expertise aimed at ensuring the success of every web3 game deployed within the Immutable ecosystem.
About Yield Guild Games Yield Guild Games (YGG) is a web3 guild protocol that enables players and gaming guilds to find their community, discover games and level up together. As a network of gaming guilds focused on web3 games, YGG provides an equal-opportunity support system so that its members can become power players in games and in life.
YGG empowers its guild community to organize onchain, providing guilds access to its infrastructure for them to scale and receive opportunities based on their specializations. Through YGG’s questing initiatives, such as Superquests and the Guild Advancement Program (GAP), members of YGG can benefit from its achievement-based reputation system and build their onchain identity.
From its roots in the Philippines to its global network of regional guilds and partnerships with over 100 web3 games and infrastructure projects, YGG caters to an ever-expanding community of gamers and blockchain enthusiasts.
SOURCE Immutable
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