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Polkadot, Bitcoin Cash, Solana Price Analysis: 30 May

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Polkadot presented targets at $24.7 and $29 to trigger another bull run. Bitcoin Cash traded within a symmetrical triangle and awaited a breakout. Finally, Solana needed to reclaim $40-45  to enable a faster recovery.

Polkadot [DOT]

Source: DOT/USD, TradingView

Polkadot presented key zones to reclaim between $24.7 and $29.8. Another important region rested at $33.4. These areas clashed with the 50-SMA (blue) and 200-SMA (green) and breaking above them could inject bullish sentiment for another price rally. On the other hand, bearish pressure would likely be countered between $13.7 and $18.35.

While MACD line was above the Signal line, DOT was yet to flip its bear market conditions. MACD’s move above the half-line would help in switching market dynamics. Similarly, RSI was also in bearish territory below 45.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

Bitcoin Cash formed a symmetrical triangle on its 12-hour chart and the direction of a breakout hinged on broader market cues. In case of a northbound break, BCH could see a 40% jump towards $1,024. A bearish outcome could see LTC drop towards $460- representing losses of 33%. According to ADX’s downtrend, the market was becoming less directional and this meant that BCH could oscillate within its pattern a while longer before a breakout.

Squeeze Momentum Indicator registered consecutive green bars but signs of low volatility were visible. This also meant that bulls could defend the lower trendline for a few more sessions.

Solana [SOL]

Source: SOL/USD, TradingView

Solana’s Supertrend Indicator flashed a sell signal at the current price of $28.5 and placed a stop-loss between $40-45. Digging a little deeper into that area showed a confluence between the 50-SMA (blue) and resistance lines. Hence, this area remained key for the bulls moving forward. Support provided by 200-SMA (green) added some extra buffer around $25.1-support and chances of a breakdown were slim, barring bearish cues from the broader market.

MACD showed a bit of equilibrium between buyers and sellers at the time of writing. A bullish crossover and jump above half-line would certainly tilt the market in favor of the buyers.


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Source: https://ambcrypto.com/polkadot-bitcoin-cash-solana-price-analysis-30-may

Blockchain

Soku Swap: Providing a secure blockchain-based solution in the DeFi space.

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The advent of blockchain technology and cryptocurrency has allowed millions of users across the world to achieve privacy, freedom, and stability. The idea of decentralization in the crypto space is to give users control over their funds, investments, and privacy without any interference from banks and third parties.

In addition to this, decentralization solves the problem of corruption, inefficient services, and systemic failures within the financial system. 

Soku Swap is a decentralized cryptocurrency exchange hosted on the Ethereum network, and Binance Smart Chain. It uses automated market-maker smart contracts to create liquidity.

Soku Swap has a crypto education system that offers free crypto classes, intending to reduce the spread of misinformation about cryptocurrencies, and allows users to make informed trades on their platform. Additionally, their 24/7 live chat assures users have all the help they need in making trades on the platform. 

The Soku Swap Platform 

What makes Soku Swap the choice of the crypto community is the fact that it addresses the most important pain point which is the high gas fee in the ecosystem. Gas efficiency is one of the core components achieved through the use of optimized AMM smart contracts. This allows Soku Swap to provide a 10% lower gas fee as compared to other exchanges.

This gas efficiency is shared by all the platform-supported cryptocurrencies that can be swapped. The addition of the Binance Smart Chain for making swaps makes it even more gas-friendly. Even in the current market flooded with NFT trades, Soku Swap allows users to enjoy low gas fees for their transactions. 

The liquidity of the user in the Soku Swap pools is managed through SOKU LP, the liquidity tokens issued by the platform. In essence, these tokens represent the liquidity of the user in the Soku pools. If the user stakes on Ethereum, they will receive ERC20 type SOKU LP tokens and for the users providing liquidity on Binance Smart Chain, the token is of BEP20 type. 

The purpose of having Liquidity Tokens is to provide further liquidity to the users as they can use these tokens to perform various financial activities without actually taking their liquidity out of the liquidity pools. This helps in two ways:

a. It allows users to gain interest on their staked amount while still being able to use the liquidity through the tokens issued. It will maintain the liquidity of the protocol.

The platform creates a truly decentralized environment through the availability of SOKU, the governance token that allows the Soku Swap platform to be truly decentralized. Anyone holding SOKU will be allowed to vote in critical decisions of the protocol such as upgrades or the future of exchange.

Furthermore, for the loyal or constant users who stake SOKU LP and complete a few trades on the exchange each week, a small portion of the trading volume will be allocated to them.

This acts as an incentivization model of the platform. With the growth of the exchange, the loyal users of the platform will also enjoy growth in their profits with the added trust of a truly decentralized environment. 

Features of Soku Swap 

The exchange offers various features that are all designed and intended to provide traders with the best experience. 

  1. AI flash loans are no longer for developers. Soku Swap makes it possible for users to make arbitrage trades without prior coding knowledge. Anyone who uses the platform can use them, allowing users to borrow assets without depositing collateral as long as the said amount returns to the protocol within the same block. If that fails, the transaction reverses as if it never happened. The most popular use case for flash loans is arbitrage trading. Users can benefit from price discrepancies across different exchanges and profit off of them. The platform allows users to see whether the arbitrage trades they wish to make will be profitable or not with the help of AI. 
  2. Soku Swap Boxes are another innovation that Soku Swap brings forward to help users capitalize on investment-worthy tokens. Every 2 weeks, the Soku Swap team will go through a list of the top gainers and trending tokens. Then, each token will be verified and researched before being included in the Swap Box. After that, users can buy packages ranging from $50 to $1,000 and select the number of tokens they would like to receive. The main idea behind this is to reduce the efforts that investors need to research.
  3. The token verification tool makes sure traders have all the education and information on a token before making any investments. Thorough research of tokens is done by the Soku Swap team, who then provide traders with a score for each token. The score relies on various factors such as liquidity, community, team members, contract codes, among others. The goal behind this feature is to prevent users from getting caught in scam coins.
  4. Moreover, users don’t have to worry about going through an extensive Know Your Customer (KYC) check. Since the exchange is entirely decentralized, there’s no need to provide any documents or verification. 
  5. 24-hour live on-screen chat for better customer support in the DeFi ecosystem. Live on-screen chat is a feature offered by many exchanges; however, it is not set to Soku Swap’s standard and full potential. Instead, Soku Swap focuses on taking care of their community members by providing instant support and results, something other platforms fail to do.
  1. Crypto awareness and education to help develop a deeper understanding. Soku Swap’s fun and easy-to-understand videos and articles allow users to learn about the crypto, blockchain, and DeFi industry. Furthermore, the platform incentivizes people by offering them rewards in SOKU tokens for taking part in these classes and for every successful referral. 
  2. Governance token to enable true decentralization. 

The SOKU Token 

The native SOKU token is a governance token that allows for all holders to vote on decisions on changes and updates to the DEX, and how network resources are allocated. The token also allows for processing fees for transactions and data storage, rewarding users for cryptocurrency education classes, staking, and providing liquidity. 

The SOKU token may be purchased during the initial exchange offering on LATOKEN June 23rd onwards. 

Catering to both the Ethereum and Binance communities, Soku Swap is a decentralized exchange that accommodates the needs of the ever-evolving cryptocurrency community. Soku Swap aims to make the DeFi space a safer place for all traders, new and experienced alike.

Stepping towards making blockchain-based solutions more secure than ever by researching newly listed projects on the exchange to review the validity of a token and provide crypto education.

This not only helps individual investors from capital loss but also saves the crypto ecosystem from potential hacks and scams while educating new users who are just getting into the cryptocurrency space.

Disclaimer: This is a paid post and should not be treated as news/advice. 

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Source: https://ambcrypto.com/soku-swap-providing-a-secure-blockchain-based-solution-in-the-defi-space

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Blockchain

NetFlowCoin: The world’s first decentralized internet application platform based on SDN and Blockchain

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NetFlowCoin is a fully functioning, secure, and decentralized network that acts as a buffer between its users and the centralized Internet. Made possible by combining Blockchain technology with a Software Defined Network.

With its native protocol NFC (also “NetFlowCoin”) token, the NetFlowCoin Project provides users with a dApp marketplace and a circulating digital asset ecosystem. 

In tandem with blockchain technology, the NFC Project provides users with a decentralized network resource that turns key Internet infrastructure elements into an algorithmic market.

Because it is powered by a unique incentive mechanism, it is distributed, encrypted, and can survive independently from the tech monopolies.

The Makings of the NetFlowCoin Network

Simply put, the NetFlowCoin Project is a combination of Software Defined Network (“SDN”) technology and blockchain technology. 

SDN technology has been used by millions of users worldwide and is a staple of enterprise-level applications. It is known for being a super gateway capable of large-scale data compression, encryption, high bandwidth, and low latency processing performance.

Layered on top of the Internet, NFC builds a global intelligent edge network using chain-network integration to expand its computing power via “cloud-edge-end” synergy. By harnessing the bandwidth, storage, edge computing, and data resources of the NFC, NetFlowCoin forms an intelligent, secure, and reliable network.

NetFlowCoin’s Public Blockchain Architecture

By adopting a ledger to record the traffic, storage, and other resource data on the NFC network, the NFC Project can remain decentralized while being open to all users. Furthermore, NFC can reward users for contributing their idle resources with no risk of political or business influence. 

The NetFlowCoin blockchain runs on NFC tokens, which miners earn by providing network resources (storage/bandwidth/edge computing) to the network’s users. The NFC token can be used for business transactions, currency within dApps, and other uses defined within the NFC ecosystem.

While NetFlowCoin’s SDN technology ensures the rapid flow of data from user to designated user in a precise and secure manner, the blockchain layer promotes the healthy development of the network and fortifies security during expansion. 

The NFC token incentivizes users to contribute to the stable operation and business expansion of the overall NFC Project. Implement smart contract technology to lay the foundation for complex, automated, and lucrative business processing mechanisms.

NetFlowCoin’s blockchain architecture solves many of the issues plaguing the crypto mining industry. This is enabled by NFC’s hybridized consensus mechanism, which consists of Delegated Proof of Stake (DPoS) and Proof of Valuable Flow (or PoVF). The purpose of these mechanisms is to welcome both established and new miners to the blockchain. 

Note: For more details on the NetFlowCoin public chain architecture or NetFlowCoin Nodes, visit the NetFlowCoin White Paper.

What Can Users Expect from NetFlowCoin?

NetFlowCoin is a solution for users looking to liberate their data and footprint from the intrusive, centralized Internet. The NetFlowCoin Project offers the following perks to all users, miners, developers, and partners:

  • Access to Network Layer Capabilities: Provides open-source interfaces for developers to build dApps (blockchain browser, wallet, DEX, decentralized IM, NRC20 token, NFT, etc.)
  • Innovative DataFlow Mining: Everyone can participate in NFC mining thanks to NFC’s novel dual consensus mechanism. Block Mining and DataFlow Mining allow for a custom approach to creating value. The NFC token has multi-dimensional applications within the marketplace.
  • Green Energy: the personal server consumes extremely low amounts of energy.
  • Ultra Secure & Super Fast Performance: NFC’s combined Blockchain technology and SDN layer makes for an efficient and secure data communication value network.
  • Innovation Consensus: ultra-high processing capacity designed for enterprise use. Made to adapt to various scenarios, rapid growth, and hyper scalability.
  • Seamless access: to the NFC network-enabled dApp marketplace.

Participation is Mining on NFC

NetFlowCoin adopts a dual token model, where NFC (“NetFlowCoin”) tokens are issued based on the local blockchain, and NFCS (“NetFlowCoin Stable”, anchored to the USD) stable coins are issued under the ERC20 standard and serve as a bridge between the digital and “real” economies. NFCS tokens will serve as the basic communication service fee for traffic mining and payment credentials.

The NetFlowCoin blockchain consists of a hybridized consensus model. The two consensus mechanisms are Delegated Proof of Stake (or DPos) and Proof of Verified Flow (or PoVF).

Block Mining

The Delegated Proof of Stake or DPoS consensus mechanism rewards NFC tokens by staking tokens to hold a vote. 

Block mining through the DPoS consensus, where miners pledge NFC and vote for specific “candidate nodes” (21 delegates per counting cycle) to obtain the right to produce blocks for 7 days. The NFC token is awarded to the delegate every time a block is produced. 

DataFlow Mining

The Proof of Verified Flow or PoVF mechanism is a mining reward mechanism based

on the actual valuable uplink traffic generated by each node in the system.

DataFlow Mining via PoVF consensus, where the server consumes the miner’s NFCS (NetFlowCoin Stable, an ERC20 stable coin that can be purchased through the NFC platform) in the user account to generate uplink traffic(DataFlow). The PoVF mechanism converts the traffic (DataFlow) into NFC tokens and awards them to the user.

How to Mine on NetFlowCoin

  1. Download the WeLine application and register your account (available on both Google Play and iOS App Store). 
  2. Purchase 1x personal server.
  3. Download and install the Blube Wallet, and register the wallet address
  4. Complete the binding of the wallet NFC address with the WeLine account and the personal server SN.
  5. Top up NFCS, or buy NFC tokens to convert into NFCS.

For specific details on NetFlowCoin’s mining data, blockchain data query, pledge lock data, DPoS consensus data, and one-click coin issuance services, visit NFCScan.

What NetFlowCoin Means for Developers

Today, distributed applications, or “dApps,” are still in a nascent phase, with a handful starting to become household names. The capacity of dApps to interact with smart contracts on the blockchain brings an infinite amount of possibilities when it comes to creating value for NetFlowCoin users.

The NFC application layer provides developers with various open source interfaces. Developers are a cornerstone of NetFlowCoin’s decentralized marketplace. NFC provides diversified open-source interfaces for developers to create new dApps in the decentralized app store.

NetFlowCoin supports smart contracts on Ethereum, as well as the smart contract programming language Solidity. The NetFlowCoin platform can host an infinite number of application scenarios for users on the application layer, such as:

  • Network resource sharing (idle bandwidth sharing, or acceleration) dApp
  • EN data sharing dApp
  • DEX
  • Decentralized video streaming network/platform
  • Decentralized data trading platform
  • NRC20 token
  • NFT
  • IOT platform
  • KYC/CIS/Identity Verification
  • Decentralized MMORPG
  • NFC Lottery dApp

Join NetFlowCoin Today!

Getting connected to NetFlowCoin is easy! Download the WeLine application and register your account (available on both Google Play and iOS App Store) to join the NFC community today. 

For further information on NFC, visit NetFlowCoin.io and check out our latest White Paper.

Disclaimer: This is a paid post and should not be treated as news/advice. 

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Source: https://ambcrypto.com/netflowcoin-the-worlds-first-decentralized-internet-application-platform-based-on-sdn-and-blockchain

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Blockchain

Palestine Reportedly Working On Its Own Digital Currency

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Cryptocurrencies are back in the geopolitical scenario. The Palestinian Monetary Authority is reportedly working on issuing a digital currency as a strategy to achieve a higher level of financial independence.

This effort would put Palestine on the same list as other nations like Venezuela, the Marshall Islands, the Bahamas, China, and the latest endeavors of El Salvador, who are interested in the power of the blockchain to improve the efficiency of their financial infraestructure —and gain a little more independence from other economic powers, bypassing their sanctions since we’re there.

A Palestinian Sovereing Digital Coin: Practical Solution Or Political Statement?

Palestine has a rather peculiar political situation, although 138 of the 193 United Nations (UN) recognize it as an independent country, the United States and Israel (two of its mort important political rivals to say the least) do not recognize its existence, and Israel currently excercizes an important militar and even financial control on the region.

Countries that recognize Palestine as a free country (Green) vs Countries that do not (Grey). Image: Wikipedia
Countries that recognize Palestine as a free country (Green) vs Countries that do not (Grey). Image: Wikipedia

And this is where the blockchain comes in as a possible relief valve or perhaps a means of political protest by Palestine agains Israel. Palestine does not have its own currency and instead relies on a mixed economy in which Israeli shekels, Jordanian dinars, and U.S. dollars move in and out.

So, with an economy controlled by a rival third party, it is almost impossible for palestinians to have any financial sovereignty when Israeli banks dictate their movements.


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Currently, Israel prohibits banks from conducting large cash transactions. It also imposes limits on the amount of money Palestinians can transfer to Israel each month.

According to a Bloomberg report, this hinders financial transactions between Palestinians and could be one of the most important practical reasons for trying to create a sovereign currency free from Israel’s influence.

As a result, they [the palestinians] sometimes have to borrow to cover foreign exchange payments to third parties and are stuck with a glut of Israeli banknotes. That could be one reason a digital currency would be attractive to the Palestinian monetary system.

Experts Don’t Expect Much

Palestinians might be optimistic, but many experts don’t see much hope for the Palestinian efforts. Among this group is Raja Khalidi, director of the Palestine Economic Policy Research Institute, who believes that it is practically impossible for the Palestinian cryptocurrency to see the light of day.

“The macroeconomic conditions don’t exist to allow a Palestinian currency — digital or otherwise — to exist as a means of exchange.

For his part, Barry Topf, former senior adviser to the Bank of Israel governor, assured that this currency will fail to fulfill two of the main functions of money:

“It’s not going to replace the shekel or the dinar or the dollar. It’s certainly not going to be a store of value or a unit of accounting.”

However, Palestine seems determined to pursue a venture in which it has nothing to lose. Two cryptocurrency studies are currently underway to help experts understand the landscape. In the end, much of its success will depend on the support it receives from other international bodies, and especially from other states.

And this is a matter of discussion for political analysts, not crypto enthusiasts.

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Source: https://cryptopotato.com/palestine-working-digital-currency/

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