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Cardano Launches dAppStore for Certified DeFi Apps

Cardano launches dAppStore

Rate this post Input Output (IOHK), the Cardano development firm, launches the Plutus dAppStore, a network-wide marketplace for decentralized applications. Developers will be able to submit their Cardano dApps to this marketplace, making them more accessible to the community.  Cardano Launches The Plutus dAppStore Cardano has announced that it is constructing a storefront for certified decentralized applications.  In a blog post published on Wednesday, IOHK provided a glimpse of their new ‘integrated approach to the growth of the Cardano ecosystem in advance of the Cardano Summit 2021.  The dAppStore’s Objective Is To Make It Easy For People To Find Dapps That Operate On Cardano The announcement’s focus is the impending introduction of the Plutus dAppStore, a shop where developers can submit their decentralized applications running on Cardano and make them more discoverable. According to Appiah, the dAppStore will provide a “democratized environment for developers to publish their dApps without facing censorship,” which means that both certified and uncertified applications will be listed on the storefront, as the site does not intend to act as a gatekeeper but rather as a “platform for transparent user assessment.” Cardano’s long-awaited hard fork, Alonzo which added smart contract capabilities to the blockchain, went live earlier this month but not without complications.  While the update itself went successfully, many members of the community were unhappy to see only a few applications debut on the network.  Minswap, the first decentralized exchange to open on the testnet, encountered immediate scalability difficulties and was forced to shut down shortly after.  Long Nguyen, founder and technical lead at Minswap, told following the event that the problem stemmed from the so-called concurrency “issue” which refers to the capacity for several distinct agents to engage with the same smart contract at the same time. In Addition, IOHK Is Creating A Formal Certification Procedure For Third-party Cardano dApps While account-based blockchains, like Ethereum, enable many users to engage with the same smart contracts by default, state-based or EUTXO-based networks, such as Cardano, provide certain challenges for developers in this respect.  Following the event, the Minswap team posted a post-mortem blog entry, which stated: “It’s a problem that any capable team and development lab working on Cardano DeFi protocols must solve. It is not a fundamental defect, but rather a design issue that must be overcome.” The current absence of fully-fledged DeFi apps on Cardano may be explained by the fact that no one appears to have found a workable solution to the concurrency problem.  SundaeSwap, another Cardano-based decentralized exchange, released a post following Alonzo’s testnet launch, downplaying the issue and suggesting numerous possible solutions to concurrency.  However, they have yet to successfully deploy a functional DEX on the network. While separate initiatives are actively working on solutions, Minswap claims that “efforts have been compartmentalized with minimal sharing of knowledge between teams thus far.” At the Cardano Summit 2021, which will take place on the 25th and 26th of this month, IOHK will present a preview of the Plutus dAppStore prototype.  Sidney Vollmer, Cardano’s head of marketing and communications, indicated that some of the collaborations revealed during the summit may “blow people’s minds.” While the Plutus dAppStore’s official debut date has yet to be announced, it remains to be seen whether and when fully-fledged DeFi apps will occupy the shop.

The post Cardano Launches dAppStore for Certified DeFi Apps appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Input Output (IOHK), the Cardano development firm, launches the Plutus dAppStore, a network-wide marketplace for decentralized applications. Developers will be able to submit their Cardano dApps to this marketplace, making them more accessible to the community. 

Cardano Launches The Plutus dAppStore

Cardano has announced that it is constructing a storefront for certified decentralized applications. 

In a blog post published on Wednesday, IOHK provided a glimpse of their new ‘integrated approach to the growth of the Cardano ecosystem in advance of the Cardano Summit 2021. 

The dAppStore’s Objective Is To Make It Easy For People To Find Dapps That Operate On Cardano

The announcement’s focus is the impending introduction of the Plutus dAppStore, a shop where developers can submit their decentralized applications running on Cardano and make them more discoverable.

According to Appiah, the dAppStore will provide a “democratized environment for developers to publish their dApps without facing censorship,” which means that both certified and uncertified applications will be listed on the storefront, as the site does not intend to act as a gatekeeper but rather as a “platform for transparent user assessment.”

Cardano’s long-awaited hard fork, Alonzo which added smart contract capabilities to the blockchain, went live earlier this month but not without complications. 

While the update itself went successfully, many members of the community were unhappy to see only a few applications debut on the network. 

Minswap, the first decentralized exchange to open on the testnet, encountered immediate scalability difficulties and was forced to shut down shortly after. 

Long Nguyen, founder and technical lead at Minswap, told following the event that the problem stemmed from the so-called concurrency “issue” which refers to the capacity for several distinct agents to engage with the same smart contract at the same time.

In Addition, IOHK Is Creating A Formal Certification Procedure For Third-party Cardano dApps

While account-based blockchains, like Ethereum, enable many users to engage with the same smart contracts by default, state-based or EUTXO-based networks, such as Cardano, provide certain challenges for developers in this respect. 

Following the event, the Minswap team posted a post-mortem blog entry, which stated:

“It’s a problem that any capable team and development lab working on Cardano DeFi protocols must solve. It is not a fundamental defect, but rather a design issue that must be overcome.”

The current absence of fully-fledged DeFi apps on Cardano may be explained by the fact that no one appears to have found a workable solution to the concurrency problem. 

SundaeSwap, another Cardano-based decentralized exchange, released a post following Alonzo’s testnet launch, downplaying the issue and suggesting numerous possible solutions to concurrency. 

However, they have yet to successfully deploy a functional DEX on the network.

While separate initiatives are actively working on solutions, Minswap claims that “efforts have been compartmentalized with minimal sharing of knowledge between teams thus far.”

At the Cardano Summit 2021, which will take place on the 25th and 26th of this month, IOHK will present a preview of the Plutus dAppStore prototype. 

While the Plutus dAppStore’s official debut date has yet to be announced, it remains to be seen whether and when fully-fledged DeFi apps will occupy the shop.

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Source: https://www.cryptoknowmics.com/news/cardano-launches-dappstore-for-certified-defi-apps/

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Breaking: Bitcoin ($BTC) Smash Past $66K to Record New ATH, $70K by EOD?

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By

Prashant Jha

Published 18 seconds ago Updated 18 seconds ago

Bitcoin ($BTC) finally broke past the $65K barrier to record a new all-time-high as the top cryptocurrency now looks to enter price discovery mode again. $BTC is currently trading at $66,000with a 5% surge over the past 24-hours. The top cryptocurrency now set eyes on $70K and looking at the current bullish momentum it might not be far from it.

Bitcoin
Source: TradingView

$BTC started October under $45K after a bearish September but regained most of its losses from the past month in the first week and by the second week, it has already recovered most of the losses from the May market crash. Bitcoin proponents have predicted that October could reignite the bull run that was seen at the start of this year and $BTC surged nearly 3X before a bearish phase. If $BTC pulls a similar move as it enters a price discovery mode with no barriers in sight, the top cryptocurrency can easily surpass the $100K price prediction.

The bitcoin price rise comes in the wake of declining exchange supply as traders keep moving away from their $BTC in anticipation of the price surge. Bitcoin supply on exchanges has fallen to a three-year low indicating the high bullish sentiment.

The approval and record first day of ProShares Bitcoin Futures ETF ($BITO) also played a key part in top cryptocurrency’s newfound bullish resurgence. $BITO recorded the second-largest ETF volume on debut with nearly $1 billion in trading volume.

Every Bitcoin Holder Ever Now in Profit

Bitcoin’s new ATH also ensured that anyone and everyone that ever purchased $BTC at any price is currently in profit. MicroStrategy, the leading Fortune 500 company is currently over $3 billion in profits over their $BTC holdings while Tesla’s $BTC profit jumped over $1 billion.

The price surge also depicts the contracts in market sentiments just a month apart. Only in September, many critics were calling for another bottom and today the market is looking towards a $70K price target.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/breaking-bitcoin-btc-smash-past-66k-to-record-new-ath-70k-by-eod/

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Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Peter Thiel, the billionaire founder of Palantir and co-founder of PayPal, is doubling down on Bitcoin. 

Peter Thiel: Bitcoin Is The “Most Honest Market”

Bitcoin has climbed back past $60K after its early 2021 parabolic run slowed. The bitcoin price has added 2.79 percent over the last 24 hours, taking it within touching distance of its all-time highs. BTC hit $64,490 on Tuesday — just shy of the 64,804 high set in April.

BTCUSD Chart by TradingView

Thiel claimed that the world’s largest cryptocurrency by market cap topping the $60,000 mark was a very optimistic signal.

“I don’t know that you should put all your money into bitcoin at $60,000 a bitcoin right now. But surely the fact that it is at $60,000 is an extremely hopeful sign,” Thiel said recently during a conference hosted by the Stanford Federalist Society.

Bitcoin’s fresh rally comes as the first-ever bitcoin-linked exchange-traded fund (ETF) is greenlighted in the United States. The ProShares Bitcoin Strategy Fund launched on the New York Stock Exchange under the ticker BITO with an opening price of $40.88. The bitcoin futures-based ETF registered over $1 billion of trading volume on its first day, making it the largest in terms of “natural” volume. 

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The venture capitalist went on to describe bitcoin as the “most honest market” in the U.S. He touted the crypto’s latest price rise as the “canary in the coal mine”, which might suggest that the current “decrepit” regime is on the verge of exploding. 

“It’s the canary in the coal mine. It’s the most honest market we have in the country, and it’s telling us that this decrepit regime is just about to blow up.”

Thiel, an outspoken Silicon Valley supporter of former US President Donald Trump, harbors the opinion that the Biden administration is shaping up as an absolute “catastrophe”.

Thiel has been known for his interest in the crypto space. His billion-dollar big data analytics company Palantir already accepts bitcoin as a payment option. Moreover, he earlier declared that Bitcoin could become a financial weapon for China against the United States. Thiel has also opened a Bitcoin mining facility in West Texas.

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Source: https://zycrypto.com/billionaire-peter-thiel-thinks-bitcoin-crossing-60000-is-a-pretty-hopeful-signal-heres-why/

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Ethereum Breaks $4,000, All-Time High Unavoidable?

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The Ethereum rally continues and seems to be moving into FOMO levels. At press time, the second crypto by market cap has blasted through the major resistance at $4,000 and moves fast into price discovery.

Related Reading | Ethereum Looks Set To Explode As 400,000 ETH Exits Coinbase

Ethereum records a 4% and 14% in the daily and weekly charts, respectively. The euphoria in the market seems to be driven by the launch of a Bitcoin-linked ETF in the U.S.

The market has positively responded to this event and has allowed Ethereum and Bitcoin’s price to surge with a spike in institutional demand, as several experts have pointed out.

Unlike some predictions, the ETF event doesn’t seem to be operating as a “Buy the rumor, sell the news” or a trigger for another capitulation event.

In lower timeframes, Ethereum must hold above current levels to turn $4,000 into support and allow the rally to follow through in case of potential downside risk.

As pointed out by pseudonym analyst John Wick, Ethereum entered a “volatility squeeze shading” with a bullish trend, as indicated in the image below. The analyst added:

Squeeze shadings precede violent moves that are often the start of new trends. Green bars say probability to the upside!

Ethereum ETH ETHUSD
Source: John Wick via Twitter

In that sense, losing the $3,000 area could signal a potential trend reversal to the downside. However, the second cryptocurrency by market cap could make a 5x profit from here.

Related Reading | Ethereum Supply Shock Grows As Reserves Decrease, ETH 2.0 Contract Increases

Ethereum ETF On The Way, Bulls With More Ammo In-Store

Analyst Justin Bennett believes the key for more upside actions relies on Bitcoin. If the benchmark crypto can continue its upwards trend uninterrupted, Ethereum could follow right into its May trend line, as the analyst claimed.

Ethereum ETH ETHUSD
Source: Justin Bennett via Twitter

This could send Ethereum as high as $20,000 for 2022. In support of this theory, QCP Capital recorded an increase in ETH-based options with $10,000 to $50,000 strikes to be expired by March 2022 on the rise.

Related Reading | TA: Ethereum Breaking This Barrier Could Spark a Significant Surge

With the launch of the Bitcoin ETF, QCP Capital noted the following on the future of Ethereum:

As we mentioned in our previous post on ETFs, long-term attention seems to be shifting from BTC to ETH with potential ETH ETF release after BTC, coupled with ETH V2 catalyst.

Ethereum ETH ETHUSD
Source: Skew via QCP Capital

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Source: https://www.newsbtc.com/news/ethereum/ethereum-breaks-4000-all-time-high/

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