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Polkadot Ecosystem Gains $10 Million VC Fund Amid Activity

China’s LD Capital tweeted the announcement on the start of Polkadot Ecosystem Fund on Jan. 21. The fund will engage in capital support, community building, development advisory, and marketing to early stage projects focused on Polkadot. LD Capital set the fund at $10 million. LD Capital LD Capital is one of China’s oldest venture capital … Continued

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LD Capital sees Polkadot and its environment as ripe for expansion. With this, Polkadot adds yet another piece of good news to its flow this week.

China’s LD Capital tweeted the announcement on the start of Polkadot Ecosystem Fund on Jan. 21. The fund will engage in capital support, community building, development advisory, and marketing to early stage projects focused on Polkadot. LD Capital set the fund at $10 million.

LD Capital

LD Capital is one of China’s oldest venture capital firms focused on blockchain technology. The company previously invested into Qtum, Vechain and Eos. Crunchbase lists it as being founded in 2017.

PAID Network

On Jan. 22, PAID Network CEO Kyle Chassé tweeted his regards over Plasm Network connecting on Rococo v1, the Polkadot testnet. For Plasm, a sidechain on Polkadot is important to projects such as PAID, considering Polkadot’s ever-increasing reach. Plasm Network announced the local connection as Polkadot’s first parachain on Rococo v1 on Jan. 15.

To the Moon(stake)

As BeInCrypto reported on Jan. 20, staking company Moonstake and digital assets platform RockX also announced a partnership focused on Polkadot. RockX is already engaged in the Polkadot ecosystem through technical support and a $20 million investment program.

Polkadot a Strong Fourth

Polkadot’s DOT token replaced Ripple Lab’s XRP in January as the fourth-largest cryptocurrency by market capitalization. This is due to Polkadot’s expanding popularity as well as Ripple’s regulatory woes.

The US Securities and Exchange Commission slapped Ripple, its current CEO and former CEO with lawsuits on Dec. 23, 2020. One such suit claims that Ripple Labs sold $1.2 billion of unregistered securities in the for of XRP. Another suit asserts that former CEO Christian Larsen and current CEO Brad Garlinghouse sold a further $600 million in unregistered securities on their own.

Garlinghouse defends Ripple, saying that the eight years that the company has been on the market and its previous government rulings prove that it is not a security. Furthermore, he questioned the timing of the suits as the US government changes hands. However, without mentioning the Ripple case directly, SEC Commissioner Hester Pierce, commonly known as ‘Crypto Mom’, mentioned in an interview that such cases are usually settled out of court.

Polkadot, meanwhile, continues to go from strength to strength. Remarkably, the company, led by co-founders including Ethereum co-founder Gaviin Wood, only went live in May 2020. By November, it claimed sixth place by market cap. Since December, the price of the DOT token more than tripled.

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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Source: https://beincrypto.com/polkadot-ecosystem-gains-10-million-vc-fund-amid-activity/

Blockchain

Polkadot Gears Up for Parachains Launch: Unveils ‘Common Good’ Parachains

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Polkadot, the interoperable blockchain protocol spearheaded by Ethereum co-founder Gavin Wood, has announced its forthcoming parachain launch.

Parachains – application-specific blockchains that connect to the main network and benefit from its security and computing capacity – are viewed as the building block of Polkadot’s ecosystem. Initially, the plan was for 100 parachain slots, with an auction process determining who gets to ‘lease’ parachains for defined time periods.

However, according to a blog post published by the team on February 25, some slots will be made available for ‘governance-allocated parachains,’ also known as common good parachains. These common good parachains have been conceived to address the so-called “free rider” problem, wherein parachains can forgo contributing to elements (such as bridges) that may benefit the ecosystem as a whole.

Solving the Free-rider Problem

The free-rider problem is best understood with reference to an analogy. Supposing a levy is imposed on car manufacturers to offset pollution: in turn, vehicles’ cost is increased, and all drivers are forced to pay extra.

Although everyone will subsequently benefit from a less toxic atmosphere, only those who actually buy a car will have contributed: the others (cyclists, for example) are considered free riders.

Polkadot’s governance process will essentially earmark parachain slots for consideration outwith the auction process, with a Council and Technical Committee representing passive stakeholders and supplying technical guidance. Both groups will then decide whether to accept or reject the direct registration of certain parachains.

According to the blog post, both system-level chains and public-utility chains may emerge as blockchain categories that qualify as common good chains.

Any parachain, in other words, that the Polkadot team deem beneficial for the overall ecosystem – bridges, identity projects, and smart contract platforms and governance would all theoretically be under consideration.

Chains that help remove transactions from the Relay Chain and enable more efficient parachain processing seem the likeliest to be considered ‘common good.’

As noted in Polkadot’s blogpost:

“By allocating a subset of parachain slots to common good chains, the entire network can realize the benefit of valuable parachains that would otherwise be underfunded due to the free-rider problem.

Polkadot’s governance system is on the bleeding edge of social coordination and it will be exciting to see how it helps the network evolve to meet the needs of its constituent parachains and stakeholders.”

Polkadot Gears Up for Parachain Launch

The Polkadot team recently published a roadmap noting that all upcoming parachains will be tested on regular parachain testnets, like Rococo and on Kusama Network. The latter being Polkadot’s canary network.

Kusama is a proving ground for parachains, allowing developers to build and deploy them and experiment with Polkadot’s governance, staking, nomination, and validation functionality.

Once parachains are live, community members will have their say on which additional features and network upgrades should be incorporated over time.

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Source: https://cryptopotato.com/polkadot-gears-up-for-parachains-launch-unveils-common-good-parachains/

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Blockchain

Cardano Price Analysis: 28 February

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While a majority of the assets are still trying to recover from the recent price drop, Cardano managed to record a new all-time high over the past week. Clocking in a value of $1.48 yesterday, Cardano is currently one of the top three assets in the world and while the asset has registered a 10% drop over the past few hours, it has maintained its 3rd position with a market cap of $38 billion.

Cardano 6-hour chart

Source: ADA/USD on Trading View

The 6-hour chart of Cardano continued to indicate a rising price but the asset was moving within the trendlines of an ascending channel. With a couple of higher highs witnessed, the asset has dipped over the past 24-hours, and the correction may go even further in the charts. A bearish breakout should allow the asset to recover its position at a previously held range before addressing the higher range again in the future.

At press time, the 50-day Moving Average has continued to act as underlying support but a possible move below $1.12 is likely.

According to the VPVR range, the support range at $0.90-$0.95 could be tested since the trading volume at the price point has been significant over the past few weeks.

Market Indicators

Source: ADA/USD on Trading View

Market Indicators appeared a little on the neutral side at press time but considering the pattern was bearish, the indicators may head in the same direction.

Relative Strength Index or RSI is currently holding a position above 50 but the indicator suggested an increasing selling pressure in the chart. Stochastic RSI is exhibiting a bearish pullback at press time, with the signal line hovering the bullish line.

MACD appeared bullish at press time, but a potential trend reversal is in the charts, with the MACD line converging towards the bearish line.

Important levels to watch out for

Resistance: $1.48
Support: $1.30, $0.92-$0.90
Entry Position for Short: $1.325
Stop-Loss: $1.48
Take Profit: $0.90-$0.92
Risk/Reward Ratio: 2.43x

Conclusion 

Cardano’s price action has been within the ascending channel formation and a bearish breakout in the coming week should not be discounted.


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Source: https://ambcrypto.com/cardano-price-analysis-28-february

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Blockchain

Bitcoin Cash, Uniswap, Zcash Price Analysis: 28 February

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Bitcoin Cash looked uncertain to flip its press time resistance as the indicators gave mixed signals regarding its future trajectory. Uniswap could move southbound from its descending triangle pattern as momentum rose on the selling side. Zcash showed some indecision in its market as the price continued to trade within a range, with a breakout unlikely over the coming sessions.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

With weekly losses of over 33%, Bitcoin Cash slipped to the 12th position on the crypto-rankings with a market cap of $8.6 billion. On the 4-hour timeframe, the price slipped below $464 support but the bulls eyed a comeback on the charts. The RSI avoided the oversold territory but pointed lower from the 35-mark at the time of writing. The MACD was bullish-neutral as the fast-moving line floated just above the Signal line.

It was doubtful whether the aforementioned resistance mark could be flipped over the next few sessions as trading volumes and buying activity remained muted.

Uniswap [UNI]

Source: UNI/USD, TradingView

A descending triangle formed on Uniswap’s 4-hour chart after the price formed lower highs post record levels. Prices usually tend to break downwards from this pattern on low trading volumes. The Awesome Oscillator showed that momentum rested with the selling side as the red bars rose below the half-line. A fall below the lower trendline could see UNI move towards the $15 mark.

The Stochastic RSI disagreed with the AO and suggested that UNI could be up for some gains after a bullish crossover in the oversold zone. However, a move above the upper trendline was unlikely considering the state of the broader market.

Zcash [ZEC]

Source: ZEC/USD, TradingView

Zcash continued to move within a fixed channel on the 4-hour chart as equilibrium was maintained between the buyers and sellers. The Bollinger Bands also reflected the consolidation as volatility remained low in the market. The MACD line was superimposed on the signal line, reflecting the indecision in the market.

However, a sharp move in either direction could see the market tilt strongly in the favor of the side that enforces the breakout. A bullish scenario could see ZEC move towards the next resistance mark at $138.4. Conversely, a fall could see the price move towards $98.1 support.


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Source: https://ambcrypto.com/bitcoin-cash-uniswap-zcash-price-analysis-28-february

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