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How to verify DeFi tokens?

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The recent rise of the DeFi industry has attracted the attention of many investors while the lack of solid regulations has resulted in numerous scams. In this article, we are going to discuss DeFi tokens and give some advice on what investors can do to avoid money losses.

What is a DeFi token?

In a nutshell, a DeFi token is an asset or a utility token residing on blockchain and fueling its parent service or a platform. The spike in popularity of the decentralized industry has initiated numerous DeFi protocols developed for different goals and implemented in the environment of decentralized finance. The key practical use cases of DeFi tokens include:

  • Lending and borrowing
  • Creation, transfer, and exchange of value
  • Securitization, assetization, and equitization
  • Financial options and other types of betting based on smart contracts

The value of some famous protocol tokens has increased considerably and therefore attracted the attention of investors. If we look at the Polkadot project, for instance, we can see that its DeFi token price has increased by 900% over the course of the last 5 years. 900%, and that’s no joke!

However, with the growth of the DeFi token list, it becomes more challenging to select trustworthy projects for beginning investors. In the conditions of the decentralized industry boom, dozens of new cryptocurrency tokens appear every day, 90% of which may cease to exist soon after the launch. Liquidity is another problem of crypto coins as they are created with the only purpose of quick profits.

How to choose the right assets not to get into the trap? The understanding of basic notions helps to determine more reliable DeFi crypto coins for a secure investment.

DeFi Pulse: the total value locked in DeFi has been steadily growing over the past year

What is DeFi?

So what is DeFi crypto? DeFi is a short term for decentralized finance, which is an umbrella term for decentralized financial applications or blockchain projects issuing their own cryptocurrency tokens. Their main feature is that they function without involving a third party in their work.

The DeFi platforms exclude the necessity of financial intermediaries thus forming an alternative financial infrastructure with DeFi instruments. In fact, DeFi is a reconstruction of the traditional financial system but in a decentralized environment. DeFi is based on smart contracts that will be discussed below.

What are smart contracts?

Smart contracts represent pieces of code that are used to alleviate the exchange of services, goods, funds, data, etc. The use of smart contracts is the main difference between decentralized facilities and centralized financial institutions where transactions are controlled by intermediaries.

The external data is processed without a centralized source so different mechanisms are employed for its verification. For example, reliable price feeds can be used to prove the accuracy of the DeFi tokens’ value. Smart contracts can pick up this data in an automated way and process the programmed activities accordingly.

To fuel the execution of smart contracts, tokens are used. As it’s been mentioned above, tokens are tricky as the whole industry provides fruitful ground for fraudsters of all kinds. Here’s what you can do about it.

How to verify DeFi tokens

While it’s rather challenging to enlist your token on centralized platforms, the DeFi platforms have made it simple. Thus, the most popular DeFi platform Uniswap enables the creation of open, free listings making the launch of new DeFi projects simple as 1-2-3.

On the other hand, there is no strict threshold keeping scammers away from the system, hence numerous fraud projects have emerged and flooded the industry. For instance, scammers can take a real, legitimate asset and launch a token with an identical ticker on a decentralized platform to mislead users and make them buy their worthless assets.

Those who don’t want to suffer losses invest in what is called ‘blue crypts’, which are recognized, well-established, and financially sound assets from the top DeFi coins. Numerous reputable resources come up with a list of DeFi coins that deserve to be trusted. At the time of writing, the DeFi leaderboard includes such decentralized platforms as Maker, Compound, Uniswap, Aave, and Chainlink that issue the best DeFi coins.

Here are some tips on how to select the best assets for investment and protect yourself against scams:

  • There is a high probability of losing money when there is no solid technology behind the project, especially in the case of long-term investment. Check the project’s white paper to see if there is any innovation or if the document is simply copy-pasted from somewhere else.
  • It is preferable to invest in projects that were highly assessed by reputable experts in the industry.
  • Check how big is the portion of tokens allocated for the team. A too-large percentage (20%+) may lead to centralization while the total lack of vesting is not good either. Why would not the project reward its faithful workers?
  • Explore the code or read the results of third-party smart contracts audits before investing. The failure in the code can lead to a hack and massive losses for users.
  • Analyze the whitepaper and litepaper of the project to learn more about it and assess its potential. A project with thoroughly developed documentation is less prone to be a scam.
  • There should be a team of non-shady people behind the project. The transparency of the team allows performing relevant checks on its members’ backgrounds to estimate their experience and skill set in their LinkedIn profiles, reputable publications, etc.
  • It is essential to double-check the address of the project’s website and the contract address on a DEX. Analyze such details as the total liquidity, volume, and recent transactions.
  • Use Tokenguard to read ICO reviews of the projects and verify the security of cryptocurrency tokens before adding them to your investment portfolio.

Following these guidelines wouldn’t fully protect you against losses. However, they can significantly reduce their chances. Remember: forewarned is forearmed.

How to verify DeFi tokens?

Source

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blockchainconsultants.io/how-to-verify-defi-tokens/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-verify-defi-tokens

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Supply Chain Optimization Is Crucial To Your Business. Learn Why!

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Codezeros

We are residing in a highly competitive world. And it is becoming difficult for the businesses out there to take a stand. And thus, they should look for continuous enhancement to meet consumer needs. To do it successfully, supply chain optimization can be undertaken.

It improves both performance and network efficiency to fulfill the needs of the customers. This article will describe to you why supply chain optimization is vital for your business.

What is supply chain optimization?

Like blockchain, supply chain optimization uses resources and technologies like AI (Artificial Intelligence) and IoT (Internet of Things) to enhance both performance and efficiency in a supply network. A supply chain of an organization offers an efficacious customer experience.

Business efficacy and responsiveness are enabled by a high-performing and powerful supply chain to give the customers what they want. And ultimately, it brings profit to the organization and also enhances the sustainability of the supply chain.

Supply Chain Optimization Is Crucial To Your Business. Learn Why!

Supply chain optimization process:

A successful supply chain optimization process undertakes three phases. The phases are:

Supply chain design:

This phase includes a description of network design processes such as the location of warehouse facilities and how the product flows between them. It also showcases strategic objectives like establishing supplies, demand forecasting, and the scheduling and planning of operations associated with manufacturing.

Supply chain planning:

It includes the making of a strategic supply chain development plan, planning for inventory, and assets coordination for optimizing goods delivery, information, and services from supplier to consumers, ultimately balancing supply and demand.

Supply chain execution:

This phase focuses on execution-oriented systems and applications, inventory and warehouse management, management of transportation, management of global trade, and other execution applications like supply chain visibility, real-time decision support, and order management systems.

Importance of supply chain optimization:

The complexity of supply chains cannot be ignored, but the complexity pays technological benefits, especially when AI and IoT are integrated with blockchain.

A successfully designed supply chain management and optimization processes describe the given below issues:

Silos:

As the data is siloed, supply chains are unable to get the needed insight, and they lack end-to-end visibility. All these together pull them from meeting the needs of their consumers. For informational silos, a supply chain optimized through connected technology is considered to be the best solution.

Client needs:

The expectations of the customers are rising. And this means that the supply chains must keep up with innovating and optimizing each step to meet the needs of their customers. The organizations must prioritize the supply chain not only to meet but exceed the customer expectations as well.

Competitive advantage:

Earlier, supply chains used to focus on the design of the network like distribution fleet and warehouse placement. But currently, optimization on real-time decision support and execution-oriented applications is the indispensable process for protecting the brand and building competitive advantage.

Agility:

The supply chain must respond fast to the changes like- customer demands, supply distributions, and competitions. To stay competitive, the modern supply chains must be active and quick.

Sustainability:

There are several social and environmental impacts caused by supply chains. Modern customers crave to know whether the goods are manufactured or produced in an ethical and sustainable method by using low-impact extraction or renewable methods.

Features of an effective supply chain optimization:

Blockchain development for supply chain itself is a powerful technology. And when it is further integrated with AI or IoT, the power rises dramatically. Firstly, blockchain migrates from a traditional business network and brings good quality data together across the partners.

When AI is added, it extracts a meaningful context and produces strong insights resulting in several potential benefits.

Some of the vital features of an effective supply chain are given below:

  • Inventory tracking:

It looks through the entire blockchain in supply chain and knows exactly where the inventory is.

  • Intelligence:

For real-time intelligence, it leverages composable data and AI services.

  • Reporting and analytics:

For forecasting future sales and demands, it evaluates patterns in processes.

  • Order management:

It tracks orders, manages returns, sends quotes, and contributes to customized pricing.

  • Visibility:

It offers up-to-date inventory tracking and available-to-promise data.

What is the future of supply chain optimization?

Automation will be delivering significant scaling advantages, contributing to blockchain for supply chain management. Some of the technologies that will continue to develop are:

IoT sensor data will offer insight into inventory status and location.

AI will make monitoring of inventory more accurate.

  • Blockchain:

It will improve traceability, visibility, transactional trust, and will verify the authenticity as well.

  • Intelligent order management:

Inventory visibility will be mastered with automation and improved demand forecasting.

Conclusion:

Indeed, it is advantageous to opt for supply chain optimization in businesses. Technology, along with globalization and empowered customers, is changing the way how a business manages its supply chains. In the future, the supply chains are expected to take more accurate actions.

Supply Chain Optimization Is Crucial To Your Business. Learn Why!

Source

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blockchainconsultants.io/supply-chain-optimization-is-crucial-to-your-business-learn-why/?utm_source=rss&utm_medium=rss&utm_campaign=supply-chain-optimization-is-crucial-to-your-business-learn-why

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Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

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One of the hedge funds badly burned in the infamous GME social media driven short squeeze is closing down, while GameStop itself has just completed its $1.13 billion equity offering.

According the Financial Times, London-based White Square Capital operated by Florian Kronawitter has closed its main fund and will return capital to investors.

White Square Capital reportedly had $440 million in assets under management (AUM) at its peak. The hedge fund was one of many that suffered double digit percentage losses from short positions in January, when the Wall Street Bets subreddit helped pump GME’s price from $21 on Jan. 12 to around $345 on Jan. 27.

However the FT reported a source as saying the fund’s closure was unrelated to its GameStop misadventure. In a letter to investors, co-founder Kronawitter cited the traditional equity long-short model was being “challenged” in the current financial climate, as there are “way too many fish in the pond” that operate with the same long-short strategy.

“The traditional edge is being arbed away [eroded by other investors], there’s an oversupply of capital,” Kronawitter said.

The co-founder also highlighted that the hedge fund’s opportunities for arbitrage have “diminished” due to the “onslaught of capital caused by central bank monetary interventions.”

These factors are also accompanied by the relative ease of access to information and cheaper investment alternatives, with Kronawitter asserting that it brings it to question how the management fees from hedge funds can be justified in the current market.

In a Reddit thread discussing the news on the r/wallstreetbets subreddit, members of the group shared their delight, with user “turtleduck77” likening hedge funds that shorted GME to dominoes falling, noting that its “Time to invest in dominoes! The game not the pizza.”

Related: New decentralized crypto exchange is inspired by r/Wallstreetbets

GameStop completes ATM offering

Yesterday GameStop announced the completion of an at-the-market (ATM) equity offering, with the company selling five million shares of common stock generating almost $1.3 billion before commissions and offering expenses.

“GameStop will use net proceeds from the ATM Offering for general corporate purposes as well as for investing in growth initiatives and maintaining a strong balance sheet,” the announcement read.

One of the growth initiatives likely to be funded is GameStop’s NFT marketplace set to be launched on Ethereum.

While details are sparse at this stage, the firm’s blockchain division is reportedly headed by the former business operations leader of Ethereum and Loopring DEX, Matt Finestone.

The smart contract platform is based on the ERC-721 NFT standard and was created by foobar, a developer who has worked on wrapper solutions for the classic version of Crypto Punks, HD Mooncats, and MooncatHelper NFT projects in the past.

While top crypto assets and memecoins have been in a major down trend since May 12, GME’s meme stock has increased 36.6% within that time frame, increasing from $161 on May 12, to $220 as of today, according to TradingView.

In comparison, data from CoinGecko shows that crypto’s nearest equivalent in meme coin Dogecoin has cooled down, has dropped 64% — declining from a price range of $0.50 on May 12, to $0.18 today.

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blockchainconsultants.io/hedge-fund-that-shorted-gamestop-closes-as-1-13b-gme-stock-offer-completes/?utm_source=rss&utm_medium=rss&utm_campaign=hedge-fund-that-shorted-gamestop-closes-as-1-13b-gme-stock-offer-completes

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What is Decentralization in Blockchain?

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Advancements in the digital domain are progressively molding people’s everyday life progressions, businesses, academic organizations, companies, and governmental associations. However, the hypothetical systems of administration that are being utilized concerning these have not progressed at a similar speed. To resolve this, the decentralized application of blockchain technology has emerged as one of the best technologies. It is generally seen as a tool that can give answers for numerous concerning points like digital identity, ownership of assets and data, security, and, surprisingly, future decentralized decision-making. 

Let us learn about the decentralization in the blockchain platform, its importance, and its benefits:

Table of Content

  • What is decentralization?
  • Datafication is blockchain technology.
  • Why is decentralization important?
  • Benefits of decentralization.
  • Facilitates a trustless setting.
  • Improves data recovery. 
  • Reduces degrees of shortcoming.
  • Optimized assets dispersion.
  • Closing Thoughts.

What is decentralization?

In the blockchain, decentralization alludes to the transfer of supervision and decision-making from a centralized association (individual, corporation, or group of people) to a dispersed network. Decentralized networks endeavor to decrease the degree of trust that members should put in each other and dissuade their capacity to put forth authority or command over each other in manners that corrupt the potency of the network.

Datafication is the Blockchain Technology

The creation, assortment, dispersal, and allotment of a wide range of data in the digital domain don’t depend exclusively on public processes but more on technologies. An algorithm decides the updates you see on Fb; press offices rely on information research to survey the newsworthiness of data. Online journals, blogs, and social networking websites are digitally trimmed for data to target commercial advertisements at people. Ethereum blockchain, a decentralized system, promises to change the digital currency to improve logistics and help oversee digital identity in a decentralized and trustless way. These algorithms are basically evolved and utilized by private users.

Data is essential for social coordination, i.e., for services, and digital information is the advanced example of data. This implies that the states of the digital domain influence administration and services considerably. AI and blockchain platforms are among the most unmistakable representations of this trend. Increasingly more of our social associations are being molded by these technologies. The political and monetary sectors are additionally getting progressively organized and directed by the impacts of AI and DLT, expanded availability, and the administrations encompassing them. Analysts and experts are prophesying an information upheaval that is as equivalent in power and troublesome in intensity as the modern industrial revolution.

Why is decentralization important?

Decentralization is actually not a new idea. When assembling a technological arrangement, three essential network structures are commonly thought of: centralized, decentralized, and disseminated. While blockchain technologies frequently utilize decentralized networks, a blockchain application itself simply can’t be sorted as being decentralized or not. Maybe, decentralization is a sliding scale and should be applied to all parts of a blockchain application. By decentralizing the administration of and admittance to assets in an application, more prominent and more pleasant assistance can be accomplished. Decentralization typically has a few setoffs, for example, lower exchange. However, such setoffs are worth it in comparison to the improved security and services they provide. 

Benefits of decentralization

  • Facilitates a trustless setting

In a decentralized blockchain system, trusting other members is not required. This is because every member in the network has a duplicate or precisely the same information as a disseminated record. In any case, where any member’s record is modified or tainted in any way, it will be dismissed by most of the individuals in the network.

  • Improves data recovery

Corporations regularly trade information with their associates. This information, thus, is regularly changed and put away in each party’s information storehouses, possibly to reemerge when it requires to be passed downstream. Each time the information is modified, it opens up circumstances for the information loss or wrong information to enter the workplace. By having a decentralized information store, each party has a timely and shared impression of the data. 

  • Reduces degrees of shortcoming

Decentralization can lessen degrees of shortcoming in frameworks where there might be an excess of dependence on explicit workers. These tender spots could prompt critical failures, including the inability to give guaranteed administrations or wasteful assistance because of the weariness of assets, intermittent blackouts, bottlenecks, absence of adequate motivations for excellent service, or fraud.

  • Optimized assets dispersion

Decentralization can likewise help streamline the dispersion of assets so that guaranteed services are furnished with better execution and consistency, just as a decreased probability of explosive letdown.

Closing Thoughts

To sum up this in a simplified way, the decentralization in the blockchain is an information base that stores a library of resources and trades across a peer-to-peer network. The “resource” may not exclusively be cash or transactional data, yet additional data regarding ownership, agreements, products, and some other data. A blockchain doesn’t copy the worth that is transmitted, as other peer-to-peer networks do. However, all things being considered, it enlists that a credit has been moved from one member to the next.

Check out BLOCKCHAIN COUNCIL to learn more about blockchain. You can also enroll in various courses and certification programs, including ethereum certification here.

What is Decentralization in Blockchain?

Source

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blockchainconsultants.io/what-is-decentralization-in-blockchain/?utm_source=rss&utm_medium=rss&utm_campaign=what-is-decentralization-in-blockchain

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