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The Decentralized Project TimeCoinProtocol Making an Evolutionary Leap in the Sharing Economy

Other than the TimeTicket professional services shared economy, an initiative dubbed ‘eSports’ with a focus in the online gaming market will launch on the TimeCoinProtocol.

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The sharing economy is fast growing as more industries gradually adopt the idea of global markets. Today, close to 35% of Americans offer skill-based services at the comfort of their home, thanks to the booming gig market. A recent report by PWC estimates that it will have grown to $2.7 trillion by 2025, given the ongoing paradigm shift to a sharing economy. While this market is quite promising, the centralization of services continues to be a big challenge for stakeholders looking for and providing services.  

Intermediaries like Uber, Lyft, Airbnb, and Upwork have gone ahead to take advantage of their market positions to implement high rates for those contributing to these sharing economy platforms. In fact, some cases can go as high as 20% for a single transaction, which eventually makes it costly, defeating the purpose of a sharing economy. Well, this is now set to change following the development of decentralized protocols that leverage blockchain.

Back when Bitcoin was launched, the underlying value in its supporting tech was yet to be discovered as more emphasis was placed on the digital asset itself. A decade later, blockchain has not only proven to be transformative in digital currency transfer but a building block for the sharing economy. Consequently, protocols based on this decentralized tech have come up in a bid to solve existing challenges in the gig market. One such notable innovation is the TimeCoinProtocol which runs as an open-source infrastructure based on the EOS blockchain.  

As opposed to intermediaries, the TimeCoinProtocol creates an avenue for contributors in the sharing economy to develop dApps on its decentralized protocol. This blockchain-built innovation is optimistic about creating an ecosystem where participants in the sharing economy are in control of their services as well as an opportunity to create more value within the gig market. Typically, these are limited by the varied shared platforms based on their operational scope, which sometimes limits growth or discourages new market entrants.  

The TimeCoinProtocol, however, will eliminate such market inefficiencies based on the supporting tech, which sprawls through a wide range of modern tech, including smart contracts. Through these digital contracts, dApp developers looking to create a sharing economy ecosystem can virtually integrate the terms, requirements, and other necessary information. Therefore, the execution of a given agreement only depends on the pre-set smart contract specifications. With the current challenges in dispute resolution and talent matching, digital contracts could be the butter of gig markets.  

On the issue of reputational value, traditional centralized platforms have proven to be incapable of transferring goodwill. For instance, freelancers working through a platform such as Fiverr would find it difficult to use this experience in another market place like Upwork. The same applies to the hailing-economy, where firms hold data in their centralized databases. The TimeCoinProtocol operates on entirely different grounds from these traditional firms as it is a decentralized network. Freelancers using a dApp on the TimeCoinProtocol can carry along their experience across the platform, which means they don’t have to start over anytime they join a new dApp for service scaling.  

The TimeCoinProtocol team is, therefore, optimistic about creating a sharing economy whose fundamentals are pegged on a decentralized community to develop trust and reward contribution accordingly. This project has been hailed as the shared economy game-changer in a recent review by Cointelegraph,  

“The TimeCoinProtocol provides a platform so that fledgling projects can build a sharing economy service.” 

Decentralized protocols facilitate the open development of dApps and decentralized organizations looking to build on any form of sharing economy. It is not surprising that a sunrise phase of this tech is gradually setting in with traditional shared economy value providers jumping on the bandwagon. TimeTicket Inc. is one of the firms that seem to be setting the stage for the adoption of decentralized tech in sharing economies. This Japan-based entity enjoys a usage of over 250,000, operating in the sharing economy. It has since signaled the launch of a dApp on the TimeCoinProtocol to scale its operation through decentralization. Through this initiative, buyers and sellers from all over the world will now be able to trade services by acquiring TMCN to initiate agreements as per the underlying blockchain protocol.  

Other than the TimeTicket professional services shared economy, an initiative dubbed ‘eSports’ with a focus in the online gaming market will launch on the TimeCoinProtocol. This project will allow interested players from anywhere in the world to host competition tournaments. In doing so, fans will also be able to compete against professionals despite their level of experience. Such an approach goes a long way in opening up shared economies whose growth continues to be limited by centralized entities acting as watchdogs. To bring more value in the sharing economy, blockchain protocols will come in handy as decentralization eliminates third parties in this market. 

Source: https://themerkle.com/the-decentralized-project-timecoinprotocol-making-an-evolutionary-leap-in-the-sharing-economy/

Blockchain

Dogecoin is Everywhere: from Elon Musk to Mark Cuban to John McAfee

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Dogecoin has become the center of attention of famous individuals once again. Mark Cuban said that his NBA team had become the largest DOGE merchant, Elon Musk made an electronic-god reference, while John McAfee used its growing popularity to defend his alleged pump and dump schemes.

McAfee Touted DOGE Before Musk

The love story between the CEO of Tesla and SpaceX and the popular meme coin is well-known within the cryptocurrency space. Musk has outlined his support for the asset on multiple occasions.

While some believed that the positive engagements with DOGE came from his trolling nature on social media platforms, Musk has repeatedly found different ways to promote the token. The latest one came on Saturday, as he said that “Doge spelled backwards is Egod.”

His support brought more famous individuals to the scene as well – names such as Snoop Dogg and Gene Simmons. Despite the long-term relationship between Musk and Doge, though, John McAfee recently highlighted that he touted the asset long before Tesla’s CEO.

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McAfee was indicted days ago from the US DOJ for multiple criminal offenses, including his alleged involvement in pump and dump schemes with his “Coin of the Day” campaign. Several years ago, the former antivirus tycoon promoted small-cap altcoins that he supposedly believed were undervalued, but US authorities claimed that he made more than $13 million from illicit schemes.

McAfee argued that the allegations are “overblown” and that he indeed considered those coins to have immense potential. One of them was Dogecoin, which, in his words, “has increased well over 1,000% since I chose it.” Ultimately, he concluded that this was “not a pump and dump.”

Mavs Are the Biggest DOGE Merchant

Another Doge-related engagement from high-net-worth individuals came from the owner of the Dallas Mavericks – Mark Cuban. The billionaire and his NBA team recently announced that they had started accepting Dogecoin payments for game tickets and merchandise on the online store.

A few days later, Cuban updated the community on the performance of this new initiative. He said that the Mavs had received more than 20,000 DOGE in transactions, making them “the largest Dogecoin merchant in the world.”

Furthermore, the start of the reality TV series Shark Tank predicted that DOGE will “definitely” reach $1. With a current price of $0.056, the asset would need a 1,700% increase to reach that milestone.

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Source: https://cryptopotato.com/dogecoin-is-everywhere-from-elon-musk-to-mark-cuban-to-john-mcafee/

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Brad Garlinghouse: XRP Will Continue Trading Even if Ripple Goes Away

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With the impending legal battle between the SEC and Ripple, the CEO of the payment processor said that XRP will endure even if the company doesn’t.

Simultaneously, Jesse Powell, the CEO of the veteran US exchange, Kraken, believes that offering XRP trading carries “huge asymmetrical risk.”

XRP Will Endure, Says Ripple CEO

Ever since the US Securities and Exchange Commission brought charges against Ripple for conducting an unregistered security offering, the company’s executives have tried to defend their position multiple times.

During the latest such attempt, the CEO, Brad Garlinghouse, called the lawsuit “misguided” and noted that XRP had traded in the US for eight years before the allegations emerged.

Furthermore, he laid his case on why Ripple’s native token is not a security and promised that the asset will survive even if Ripple ceases to exist.

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“If you own a security, it gives you ownership of a company. If Ripple goes away, XRP will continue trading.”

Garlinghouse explained that numerous other countries, such as Singapore, Switzerland, and Japan, all have “clarity and certainty” that XRP is not a security. In contrast, the US is “the only country on the planet that has suggested that XRP is a security.”

Consequently, the executive doubled-down on a previous narrative stating that the lawsuit against Ripple is “bad” for the entire cryptocurrency industry, not just the payment processor. This is pushing entrepreneurs to seek other options as they plan to leave the US.

It’s worth noting that Ripple is one of those companies that contemplated moving outside the US even before the SEC’s charges became official.

Trading XRP Carries Asymmetrical Risk

While Garlinghouse believes that XRP will continue trading even if Ripple is no more, Kraken’s CEO recently highlighted the potential “asymmetrical” risks for exchanges during these uncertain times for the token.

He assumed that the Commission has acted in “good faith” when bringing the charges and believes that judges ultimately “tend to side with agencies.”

As such, Powell asserted that if the SEC wins, then the watchdog would “say that exchanges should have known.”

Although Kraken took its time before making it official, the veteran US exchange joined the list of trading venues that removed XRP in January this year.

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Source: https://cryptopotato.com/brad-garlinghouse-xrp-will-continue-trading-even-if-ripple-goes-away/

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Ultra (UOS) hits a new all-time high as blockchain gaming and NFTs boom

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Video games and online gaming have become some of the largest industries on the planet over the past thirty years as digital technology and the internet have interconnected people from around the world and transformed us into a global society. 

Decentralization and blockchain technology are gathering steam as a transformative new way to operate and build an ecosystem, and Ultra (UOS) is one gaming-focused project that has been gaining momentum in recent months.

Ultra, a blockchain-based PC game distribution platform, is created for gamers and game developers and it allows users to develop multiple revenue streams, including the ability to resell games and in-game items.

Developers for the project have created a customized version of the EOSIO blockchain designed to offer free user account creation and higher transaction throughput through better resource allocation.

Data from Cointelegraph Markets and TradingView shows that UOS surged 225% over the past month as the price rallied from $0.132 on Feb. 1 to an all-time high of $0.42 on Feb. 22.

UOS/USDT 4-hour chart. Source: TradingView

As seen on the chart above, UOS trading volume hit a record $31 million on Feb. 21 and Feb. 22 following its listing on Bithumb.

NFT popularity provides a boost to Ultra

Non-fungible tokens are one of the fastest-growing trends in cryptocurrency currently and UOS has benefited from their growth. The developers at Ultra have been focused on the technology underlying NFTs as they can enable unique in-game items to be resold in multiple marketplaces and eventually on decentralized exchanges. 

Interoperability between blockchain platforms is also a major topic in the crypto ecosystem, and the team at Ultra is developing and beta testing a new mainnet that will retain the ability to operate on Ethereum.

While UOS is interoperable with the EOSIO blockchain, Ultra developers are also exploring NFT interoperability with several other blockchains including The Sandbox (SAND) and Elrond (EGLD). The project also has an evolving partnership withTheta that will enable live streaming gameplay and cross-chain NFT transfers.

Aside from its main association with the gaming giant Ubisoft, recent partnerships with globally recognized companies like semiconductor manufacturer AMD and Atari have also helped propel UOS price higher in 2021.

Big-name partnerships, cross-chain interoperability and the growth of the NFT sector have Ultra well-positioned to benefit from the bullish momentum in the cryptocurrency market.

The games sector is expected to continue its exponential growth for the foreseeable future and as blockchain gaming becomes more popular, UOS could benefit from having the first-mover advantage. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Source: https://cointelegraph.com/news/ultra-uos-hits-a-new-all-time-high-as-blockchain-gaming-and-nfts-boom

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