Blockchain
Cell Protocol Is on the Way, Will the Oracle Kingdom Built on TRON Become Popular?
This year, DeFi continues to be popular, and several DeFi-related concepts have become goldmines. The most prominent one is oracle.

This year, DeFi continues to be popular, and several DeFi-related concepts have become goldmines. The most prominent one is oracle.
Trusted data on the chain can be obtained directly through blockchain, while trusted data outside the chain needs to be provided through an oracle. Without oracle, the applicable scenarios of blockchain will be greatly limited. Based on this, oracle project became increasingly popular. In July and August, lots of oracle projects launched the market, wishing to join the competition.
Since July this year, Chainlink has made its way all the way up to the top. LINK has risen from $4.5 to $8.3, with a current market value of nearly $14, ranking TOP 6 in the world. In addition, BAND rose by 261% in July, and NEST also rose by 650.79% in one month. The market sentiment was greatly stimulated, attracting more new projects to join the market.
In late August, the oracle market returned to rationality, and the prices of related tokens also dropped a bit. The prices of LINK and BAND have fallen by 10%, and the price of NEST has fallen by more than 20%. However, Themis (MIS), which has been popular overseas, is still with a strong momentum. After launched Uniswap, the market value of MIS soared by 6 times.
The small setback in the value price did not affect some ambitious projects with vision. Recently, the Cell Protocol team released their white paper, indicating that Cell Protocol is about to enter the market.
Having already missed the recent bull market in oracle, can Cell Protocol still achieve its ambition? Being an oracle project, Cell Protocol ingeniously chose to build on Tron, can it become as popular as Tron?
Cell Protocol: A Distributed Price Oracle Network
At present, many DeFi applications currently rely heavily on timely and accurate prices. Current solutions are either less expensive to attack, centralized, or prices are not updated in a timely manner. Therefore, price predictors have been favored by many DAPP and DeFi projects.
Cell Protocol is a distributed price oracle network based on Tron network and solves the problem of price chaining through decentralized incentive solutions.
The white paper stated that the Cell Oracle focuses on cryptocurrency price prediction and is designed from the following ideas:
1) Prices are sufficiently accurate: it can truly reflect market prices, arbitrageurs cannot continue to profit from the system.
2) Prices are sufficiently sensitive: the reaction to market prices is fast enough to cope with extreme market conditions, such as the March 12 price crash.
3) Prices are sufficiently resistant to attack: the cost of distorting or influencing the true price is so high that theoretically unlimited funds are needed to manipulate prices at will.
4) Direct verification of prices: if you rely on third parties to obtain prices, you should consider the price formation mechanism of the third party, how to verify, and how to resist the third party’s mischief.
5) No authorization is required for the quotation system: anyone is free to enter or exit to participate in the quotation without system verification.
Can Cell Protocol surpass the forerunners?
The fluctuation in the crypto market is normal and the dropping price is not a news. However, the dropping price did sound the alarm for users. Although theoretically, as long as DeFi has a market, oracles will be useful, choosing a mature and practical oracle can better guarantee a higher long-term value.
Cell Protocol is visionary and wishes to develop with users. It has proposed some mature concepts wishing to build an ecosystem that can create long-term value.
Unlike other popular oracle projects, such as Chainlink, Nest, and DOS, Cell Protocol’s token, Cell, is issued based on Tron, which guarantees lower transaction fees.
The current popularity of DeFi has caused great congestion on the Ethereum network, leading to the result of high GAS fee and declining availability. After a series of observations, Cell decided to take a different path and establish its own kingdom on Tron. At present, Tron adopts TPoS double-layer consensus mechanism which is 20 times faster, combining the advantages of DPoS and PBFT. This can greatly shorten the block confirmation time, and the TPS indicator is far ahead of other public chains. Based on Tron, Cell users can enjoy a smoother network and lower transaction fees.
In the Cell quotation verification mechanism, anyone can become a validator and perform price validation on quoted miners’ quotations. If a deviation is found between a single quotation and the market price, with some room allowed for arbitrage, then the validator can engage in order-eating arbitrage.
More concentrated token positions are easier to manipulate. In contrast, the shorter Block Interval on the Tron Blockchain allows the validator to arbitrage enough times within T0 at a much lower cost of capital to quickly return to a rational price within the T0 cycle. This design allows anyone to take part in the mechanism of price formation, with prices reflecting real market pricing of the pairs and sufficiently rapid to reflect changes in prices.
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No pre-mining
In the token distribution, Cell does not have pre-mining, all released by way of Cell Oracle (Quote Mining), with a high distribution ratio. In the Cell Token release distribution mechanism, miners accounted for 80%, development team only accounted for 5%, and partner nodes (Cell Node) accounted for 15%. And these 15% of Cell Node holders have the governance rights of the Cell system.
Based on Charlie Munger’s motto “Show me the incentives and I will show you the outcome”, unlike previous oracle machines that took their data from trusted third parties off-chain, the incentives for the Cell agreement make prices form directly on-chain. Participants in the Cell agreement need to invest real money to be accountable for their actions. The agreement will incentivize those who have the courage to speak the truth.
With the further opening up of the DeFi market, the demand for oracles in the financial and Internet of Things will further expand. Can Tron help Cell Protocol successfully build up its oracle kingdom? Can the Cell Protocol help with the next booming of oracle? This visionary decentralized oracle project is worthy of looking forward to.
Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.
Blockchain
Da Vinci Capital Reportedly Requests $100 Million from Telegram for TON’s Failure


A large investor in Telegram’s failed Open Network (TON) has reportedly requested $100 million in compensation from the company. Otherwise, the investor – Da Vinci Capital – has warned with taking legal actions against the messaging platform.
TON Investor Demands $100M
Telegram’s TON initiative was among the most widely-discussed blockchain-related projects in the past few years. However, the endeavor faced almost immediate backlash from the US Securities and Exchange Commission (SEC) as a US court decided at one point that the native currency – GRAMS – is a security token, which couldn’t be sold in the US or anywhere else.
Telegram attempted on multiple occasions to fight the court’s decision and to prove that GRAMS is not a security. However, to no avail and Pavel Durov, the company’s CEO ultimately had to throw the towel by saying that “Telegram’s active involvement with TON is over.”
Although the company has distanced itself from the failed blockchain project, the problems keep following it, according to a recent report by Forbes Russia. Citing anonymous people familiar with the matter, the coverage said that Da Vinci Capital, an investor in the $1.7 billion initial coin offering, has requested compensation for TON’s failure.
Lawyers from the Moscow-based investment company have reportedly sent a letter of intent to file a claim to Durov, Telegram Vice President Ilya Perekopsky, and other executives and lawyers involved with the project.
The report says that Da Vinci Capital had demanded roughly $100 million as compensation.
Two Weeks to Answer
Forbes’ coverage further explained that Durov and his colleagues have two weeks to transfer the funds or notify the lawyers from the investment company if they decide to reject it.
However, if Telegram fails to answer in the provided timeframe, Da Vinci Capital has the right to take the matter to court.
Apart from these allegations, Telegram recently negotiated funding round to raise at least $1 billion in a private bond placement to accredited investors from Russia, Europe, the Middle East, and Asia. Those bondholders would be able to convert debt into shares at a 10% discount to the offering price if Telegram decides to go public in the next five years, revealed the conditions of the round.
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Blockchain
ChiliZ To Expand Operations, Will Invest $50 Million in the US


Following milestone partnerships with sports teams in Europe, ChiliZ have their eyes set on conquering the United States. The fintech platform will open a new office in one of the world’s major commercial cities, New York.
ChiliZ To Set Up New York Office
Maltese blockchain giant, ChiliZ is scaling up operations after securing several partnerships with top European sports franchises. Reuters reported earlier today that the fan engagement platform would open an office and invest $50 million in the United States. According to its chief executive, Alexandre Dreyfus, the move should bring the firm within reach of top United States sports outfits. He told Reuters :
“A huge focal point for us in our global growth plans is the U.S.. That’s why we’re opening a New York office and investing $50 million into the country’s sports industry in order to launch Fan Tokens with leading franchises from the five major U.S. sports leagues”
On launching Fan tokens, ChiliZ has made headway through its subsidiary, Socios. It has partnered with football behemoths like FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray, and Atlético de Madrid to launch branded fan tokens. These permit owners to engage in club polls, access VIP rewards, and partake in chat forums.
The company currently has offices in Malta, France, Turkey, Korea, Switzerland, and South America. It had earlier announced that it would open offices in New York and Madrid. With the New York office inching towards reality, Chiliz is undoubtedly advancing towards global growth.
Aims To Double Up on 2020 Revenue
Speaking further about the expansion, Dreyfus boasted about his company’s capacity to generate returns for its partners in the sports and entertainment industry. He said:
“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organisations. In 2020, we shared more than $30 million with our partners, but this year we’re targeting a minimum of $60 million.”
Revenue from the company’s partnership with seven-time European champions AC Milan proves Dreyfus is not bluffing. The Italian football giant launched its token ($ACM) on Binance on February 24th. Within hours of the launch, over $6 million was generated as trading volume hit $50 million in the first 30 minutes.
Big Market For ChiliZ?
For Joseph Edwards, Enigma Securities head of researcher, there is no better time to seize the initiative. He opined that the soaring interest in NFTs indicates a big market. He elaborated further that NFTs bridge the gap between fans and their subject of interest, especially as Covid-19 caused a disconnection.
“Fan tokens right now are just hitting the perfect itch at the perfect time – fans are disconnected physically from their fandom, and this helps bridge that gap,”
NBA Top Shots seems to be a perfect example. The NFT platform has continued to gain momentum as interest surges. It reached a record-breaking $231 million in sales over the past 30 days. Perhaps, ChiliZ is taking a cue from this to target the American sports market.
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Source: https://cryptopotato.com/chiliz-to-expand-operations-will-invest-50-million-in-the-us/
Blockchain
Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures


BCB Group, a crypto payment/trading services provider, today announced it has closed a $4.5 million investment round. The strategic funding was co-led by North Island Ventures and Blockchain.com Ventures; with participation from Pantera, L1 Digital, and Pack Capital.
As a dual regulated institution, BCB Group offers an end-to-end suite of payment processing, cryptocurrency trading, and custody. Services are accessible through a unified API-enabled platform; allowing clients to access a full range of crypto-asset products in one place.
Funding
The proceeds of the round will be used to fund investments in several new initiatives…
These initiatives include: BCB Treasury, a service designed to help companies interested in investing in bitcoin as a treasury asset. BCB Yield Accounts, a product offering clients a return on their positions. And BCB Wealth Partners, a comprehensive crypto service for private wealth clients.
“There’s so much more we want to offer our clients; and many untapped regions we’d like to be in to help those markets grow via reliable payments and market infrastructure. This funding round comes at a very exciting time for BCB Group and will be transformative for our client experience.”
– BCB Group Founder and CEO, Oliver von Landsberg-Sadie
Previously, back in March 2019, BCB Group received funding from NKB Finance and a private investor in a $1 million seed round; which brought the company much-needed talent in engineering and operations.
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