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The post A Deep Dive Into The Growing NFT Ecosystem And Some Of The Unique Innovations appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Non-fungible tokens (NFTs) have skyrocketed in popularity within the past year, eclipsing $23 billion in total volumes over the course of 2021. According to the latest DappRadar report, NFTs have continued with a similar trend this year, with the number of unique traders and sales increasing by 8% and 2%, respectively.  These metrics come as …

Search interests for terms “NFTs” and “Metaverse” in the Philippines are slowly resurging based on the data from Google Trends.

The post Philippine Google Search Trends “Metaverse” and “NFTs” Resurge Amidst Global Decline appeared first on BitPinas.

Hiding behind a nationalistic cause doesn’t make sanctioning validators any less reckless or any more effective.

In the final 7 days, Cardano is among the finest performers on the crypto high 10 by market cap. Proof-of-Stake networks lead the market, as Bitcoin and others stand within the again. Related Reading | Cardano (ADA) Takes A Tumble After Hoskinson Is Accused Of Falsifying Credentials Avalanche (AVAX) data nearly 30% in income, as […]

The post Cardano Soars 13% On Rumors Of Burn Mechanism, Hoskinson Reacts appeared first on Bitcoin Upload.

In the last 7 days, Cardano is one of the best performers on the crypto top 10 by market cap. Proof-of-Stake networks lead the market, as Bitcoin and others stand in the back. Related Reading | Cardano (ADA) Takes A Tumble After Hoskinson Is Accused Of Falsifying Credentials Avalanche (AVAX) records almost 30% in profits, as Ethereum (ETH) records 16% and Cardano (ADA) 13% profits over the past week. ADA’s price trades at $0.89, as of press time, and could see further gains in the short term as the market experiences further gains. ADA’s price appreciation could be fueled by rumors about the potential implementation of a burn mechanism for Cardano. The news was shared on Twitter by WatcherGuru triggering a reaction from the ADA community. The source of the rumor could be a tweet from Clark Alesna, developer and CEO of a company called SAIB Inc. Alesna accepted a “challenge” from Hoskinson and said he will start production of a burn smart contract for ADA. Alesna said: It seems like no one really took Charles Hoskinson challenge to build a #Cardano $ADA burn smart contract challenge that he put out some time ago. So, I’m taking matters into my own hands and started to plan and code it this weekend. I’ll update you guys soon. However, the tweet and its replies suggest Alesna was simply joking. The message by taken seriously by certain media outlets which triggered a reply from Hoskinson himself. The inventor of Cardano shared the following meme as a response to these reports. https://t.co/f9qU9xW5gl pic.twitter.com/KfaZEEBXrw — Charles Hoskinson (@IOHK_Charles) March 19, 2022 The ADA community seems to agree a burning mechanism will never be implemented on Cardano and classified the rumors as “misleading”. Most of the users seem to agree this system will bring disadvantages to the network. A pseudonym user said: Misleading information. There will never be layer 1 chain burns. You can’t burn utxo protocol just like bitcoin. Token means layer 2 blockchain on Cardano may require burns. Have to get this clear. Why eth burn? Because they build very differently in terms of accounting model. We shall not talk about them as they are struggling to roll out decentralised proof of stake. The Cardano Ecosystem On Fire Data shared by Hoskinson suggest the Cardano ecosystem has been expanding since the implementation of its smart contract capabilities. As seen below, there are over 500 projects building on this network, per Hoskinson. Currently, Non-Fungible Tokens (NFTs) seem to be dominating development on this network, native marketplaces for these digital assets follow at a much smaller scale, with Decentralized Exchanges (DEX), GamiFi, and wallets. Related Reading | Cardano (ADA) Attains 9th Position in Market Valuation During Ecosystem Inflows He hinted at the continuation of this trend, as Cardano deepest into its third era of development, known as Basho. Hoskinson said: “Moving the chains. A large wave will come after June when the Vasil hardfork happens”. This could potentially support the continuation of the current bullish trend for ADA’s price.

Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions. Monetary Authority Urges Banks to Control Spending Linked to Crypto Assets The Central Bank of Russia (CBR) […]

The United Kingdom government has announced plans to establish new legislation to manage the advent of digital identities for use in modern society in a secure manner (1). While announcing the news last week, following a consultation period (2), the DCMS department for culture, media, and sports stated that digital identities might soon replace physical […]

Subscriptions are an integral part of modern life. Digital subscriptions are increasingly common as more people get content from various subscription channels, unlike the past few decades where cable TV was the default source. Accordingly, the need to support crypto payment for Netflix and other subscription services is on the rise, even timely.

Revuto is a subscription management platform on Cardano that aims to add efficiency and control to the payment of subscriptions. They are now joining hands with Genius Yield, an equally innovative order-book DEX launching on Cardano to fast-track the adoption of DeFi services. While both protocols would support each other's ecosystem, a standout benefit would be paying for Netflix, Apple TV, Amazon, DSTV, and other subscription services using Genius Yield's GENS and other Cardano tokens. It is a vital support allowing users to take control of their spending, save money, while also earning cashback in Revuto's REVU tokens. Meanwhile, it will be possible for users to earn GENS by staking REVU via the ISPO in the Revuto Staking Center.

Streaming services can be annoying with their subscription models for all their quality content. You have probably heard a friend or relative furious over the billing policies of one of their subscriptions. The problems range from difficulties in cancellation, automatic renewal, and other communication-related issues. 

A Blockchain-Based Subscription Service

The fundamental issue with most subscriptions is that they rely on credit cards or bank payments. Once you sign up and agree to terms that most people never read, the subscription service can automatically deduct from your bank account. 

Revuto introduces the concept of a virtual debit card to grant users more control over subscription payments, allowing users to pay with Cardano and its tokens. The idea is to have a decentralized application that users can utilize to manage their subscriptions. This virtual debit card is operationalized as a decentralized application (dApp) that runs on the Cardano blockchain. 

Here is a summary of how the subscription management app will work:

• Download the Revuto app and set up an account, a straightforward process;

• Add subscriptions you intend to manage. They could range from music streaming services like Netflix, software packages, and more. 

• Once the subscriptions are linked, you can begin paying using GENS and other supported tokens.

The real prize is your ability to block, snooze, and generally control payments to your subscription service. This versatility allows the account holder to prevent unwanted subscription charges that make subscriptions more expensive than what you signed up for. Besides, you don't have to cancel the subscription when you want to snooze payments for a while before resuming.

The Cardano Blockchain Provides Base Support 

Revuto achieves its high performance because it launches from a robust layer, built from the ground up with the intention of being inherently scalable. The Cardano crypto blockchain is the handiwork of Ethereum co-founder Charles Hoskinson and a team of developers who sought to create a high-functionality and research-based network. 

Accordingly, Cardano is an excellent host for decentralized systems and applications. The rise of Decentralized Finance (DeFi) bodes well for this bespoke blockchain and its native coin, ADA. The protocol has significantly higher throughput than Ethereum, implementing a unique architecture with different settlement and computation layers. Accordingly, smart contract execution does not clash with transactions, as is the case for Ethereum.

Using Cardano blockchain, this utility has allowed an integrated decentralized hub like Genius Yield, SundaeSwap, and others to thrive. Its efficiency and increasing stature in the DeFi sector fit well with services that offer a secure and fast settlement. 

More Than Just Subscriptions Management 

Meanwhile, with Revuto in the picture, users can make payments efficiently and leverage recurring payments with REVU and get extra services for money management. Revuto received three million early sign-ups for dApp, with hundreds of thousands of users worldwide. These numbers bode well for an upcoming Fintech startup earning Revuto accolades like the award for the fastest-growing consumer product at the recent World Blockchain Summit in Dubai.

The ability to pay for your subscriptions in Cardano tokens is revolutionary. Bitcoin has struggled to gain traction as a medium of exchange for all its popularity. This utility application provides a real-world use for cryptocurrency. 

Revuto is looking to make its app a wholesome product. Soon, users will be able to exchange fiat and crypto in real-time and other decentralized finance services like lending and borrowing. Overall, the subscriptions management platform will provide a mobile-friendly and excellent decentralized finance management tool. The decision to launch on the Cardano blockchain is a testament to this vision. Revuto has a native Cardano mobile and non-custodial wallets with plans to add their custodial wallet to augment user experience.

Forecasting Growth in The Subscriptions Sector 

The world is trending online by the year. This trend is likely to manifest in the subscriptions and billing management sector, with the global market estimated to grow from about $3.9 billion today to $7.4 billion in 2027. The accelerated growth of digital streaming services is the biggest growth driver. it is the golden age for streaming with more potential in developing markets

There is excellent potential for a subscriptions management tool with such a market size. There will be tens, even hundreds of millions more people joining this demographic in the next few years. Accordingly, Revuto is entering the scene strategically for all stakeholders.

Looking Forward

Cryptocurrency and the blockchain launched on the fundamental premise that consumers need more control of their finances. This idea is relevant in countless fields. Subscriptions fall in this category because some services are downright abusive in their billing policies. Genius Yield and Revuto take the tenets of decentralization and user empowerment in these industries and seek to transform how consumers relate to subscription services. There is a great need for such services. By forming a fitting coalition, Genius Yield and Revuto will likely reap from the appreciation users will have for such convenience.

Media Contact

Company Name :- Genius Yield

Email Id :- [email protected]

Company Website :- https://www.geniusyield.co/

Ethereum is well on its way to the Merge as more milestones are met. The move to proof of stake will no doubt be a game-changer for the blockchain. So As the day for the merge draws closer, users of the network have been upping their activity in recent times. One of the places where Ethereum has recorded an uptick has been the staking queue which is now nearing its previous all-time high. Ethereum Staking Queue Crosses 300,000 The Ethereum staking queue is a good indicator of how users of the network are looking at it. When this is low, investors may be more way and not want to stake their coins on the network. However, when this number begins to go up, it signals a number of things for Ethereum, among them, being that users are looking more positively at it. Related Reading | TA: Bitcoin Holds Uptrend Support, What Could Trigger Sharp Decline This queue has been going up in recent times and as of 17th March, has almost reached its previous high. It had previously touched a new high above 330K in June of 2021 when the bull rally had been in full bloom. But the subsequent market downtrend had seen this number come down with it going into the bear trend. Only to begin another recovery in August of the same year. ETH price recovers above $3,900 | Source: ETHUSD on TradingView.com As for 2022, the number had been steadily growing but hadn’t seen any significant boost. This boost came about two weeks into March when the number of wallets on the queue crossed 300K. It is the sharpest increase ever recorded by the Balance Validators Status. What Does This Mean? For a network like Ethereum, beating and setting new records aren’t a new thing. But like with any other thing, such high interest will definitely have an impact on the network and the price. In this case, the number of wallets that are now suitable to stake on the network is higher and are waiting to be activated to do so. When such a large amount of wallets are given the green light to start staking, it will take a good chunk of coins out of current circulation. Related Reading | TA: Ethereum Consolidates Near $2,800, Why ETH Could Rally Again This is because it takes 32 ETH for a wallet to be eligible to become a validator on the network. This means that when these wallets on the queue are activated, about 1 million ETH coins will be locked away for at least three months, which is the minimum staking duration for Ethereum. A look at past charts shows that times like this have coincided with the increase in price for ETH. However, there has been one deviation which was during the November rally where ETH hit a new high above $4,000. Nevertheless, with such volumes of ETH being temporarily taken out of circulation, it most likely will positively affect the value of the cryptocurrency, pushing the value towards previous highs. Featured image from MARCA, chart from TradingView.com

You must first purchase a wallet to store your virtual currency to use a cryptocurrency. It also has a unique address, just like a bank account. Depending on the coin, it may resemble this. It appears to be a completely random sequence of characters and numbers, but there is more to it. The first thing we need to figure out is how these things are manufactured. Anyone can create a new wallet by following a precise procedure to generate a public and private key pair. In the case of Bitcoin or Ethereum, this is accomplished by using an elliptical curve digital signature method. That’s a mouthful, but the bottom line is that the process will generate a private key and a corresponding public key. These keys are mathematically related to one another. You can use the private key to generate the public key. However, you cannot convert a public key to a private key. These two keys now have a distinct function. The public key will serve as the address for your wallet, similar to your bank account number. And the private key is your way of verifying that you own the wallet and hence have the authority to spend the money contained within it. To summarize, public keys can be shared with anybody, whereas private keys must be kept confidential unless you want others to decide what you should do with your money. So far, everything is going well. But there are a few fascinating side consequences to this approach that I’d like to mention. Why Are Crypto Wallets Important? To begin with, anyone can create an infinite number of wallets on their own computers. It is only limited by the speed with which your computer can generate key pairs. Nobody will be aware of the existence of your wallet unless it receives some coins. A cryptocurrency, after all, merely keeps track of transactions between wallets. It does not provide a complete list of all existing wallets.  So, if your newly constructed wallet has not yet been used in a transaction, it simply does not exist in the eyes of the outside world. Consider the blockchain to be a big spreadsheet with transactions flowing from one wallet to the next. The blockchain itself is unconcerned with whether or not these wallets exist. When you wish to spend coins in a wallet, you need to confirm your ownership. And you can only do so using the private key linked to the wallet’s address. Another unintended consequence is that you can send money to a wallet address that does not exist. Again, because a blockchain does not maintain a list of valid addresses, it cannot verify that you are moving coins to a valid address. If you send money to an invalid address, it will be lost unless someone can generate the private key for that address. For the time being, which isn’t really achievable due to the way the algorithm works. In fact, this is known as “coin burning,” It is occasionally done on purpose by cryptocurrency projects seeking to limit overall supply and boost the value of their coin. Alternatively, they do it to eliminate coins that were not distributed at the original coin offering. The final cool side effect I’d like to discuss is that you can construct a wallet while offline, then provide that address to someone else who will be able to send coins to it. When you go back online, you can spend the coins using the private key from that wallet. Isn’t it cool? So, if you want to keep some funds safe, you can establish a wallet while offline, print out your public and private keys, destroy the key on your computer, and transfer coins to it. This is known as a “paper wallet,” and it is the most extreme but extremely secure method of holding currency. So that was a quick rundown of how wallets function in a cryptocurrency. How do you utilize a cryptocurrency wallet? Crypto wallets range in complexity from basic apps to more advanced security solutions. Among the several types of wallets available are: Paper wallets:  This makes using your crypto more difficult, as it can only be used as digital money on the internet. Keys (Crypto) are written on a physical medium, such as paper, and stored safely. Hardware wallets: Keys are saved on a thumb-drive device kept in a secure location and are only connected to a computer when you wish to access your cryptocurrency. The idea is to find a happy medium between safety and convenience. Online wallets:  Keys are saved in an app or other software in online wallets; search for one that uses two-step encryption. This makes sending, receiving, and utilizing cryptocurrency as simple as any online bank account, payment system, or brokerage. Bottom Line … Continued

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As another week comes to a close in this eventful macroeconomic climate, let’s take…

The post Could this on-chain metric catapult Ethereum’s price? appeared first on Coin Journal.