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TRON to Introduce Cross-Chain Prediction Market with Prosper

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TRON to Introduce Cross-Chain Prediction Market with Prosper

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In an effort to attract more users to its smart contract platform, TRON has doubled down on decentralized finance, working to bring as many novel applications to its network as possible. TRON can check off a couple more possibilities from this list following its partnership with Prosper, a blockchain-agnostic prediction market and hedging tool that is capable of being integrated into almost all blockchains.

With this addition, TRON users will gain a whole new suite of tools they can access to optimize their holdings and gain higher returns on their assets. In addition, Prosper will onboard TRON’s large user base to its platform and be able to utilize the increased liquidity to further expand.

Reimagining the Decentralized Prediction Market

Prosper is not the first decentralized prediction market to utilize blockchain technology and the knowledge of the crowd, but it is building off the failures and mistakes of its predecessors to create a superior platform. Without cross-chain interoperability, the ability to access large pools of liquidity is severely limited, a factor that has held back prediction markets up until now. Prosper can provide much more accurate predictions, as it offers a deeper pool of liquidity across chains and assets, allowing it to capture a larger user base to gather data from.

The introduction of Prosper onto TRON will benefit both ecosystems. With TRON’s lightning-fast transactional capabilities and negligible fees, it is ideally suited to hosting prediction markets. Besides increasing liquidity, Prosper offers all of its users a free insurance fund, providing an additional security layer to protect user funds against hacks or attacks from bad actors.

Making TRX Work for TRON Users

Using Prosper, TRX users will be able to hedge against price movements that may have previously hurt their underlying position, as well as leverage their assets to achieve a greater ROI than if they let their tokens sit idle. This enables savvy investors to maximize their upside while minimizing their downside risk on one of the most adopted blockchain networks in the space.

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Both development teams are extremely excited about this new partnership, and platform users from both sides should be excited as well. “TRON is one of the fastest growing DeFI platforms in the blockchain market. They have one of the biggest and most active communities in the entire crypto space,” said Iva Wisher, Co-Founder of Prosper.so.

TRON may be one of the largest decentralized smart contract platforms, but it wants to take the number one spot, and should be one step closer to accomplishing this goal with the introduction of Prosper’s prediction market.


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/tron-to-introduce-cross-chain-prediction-market-with-prosper/

Blockchain

MicroStrategy Directors Now Receive Board Fees in Bitcoin

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MicroStrategy, a publicly-listed company spearheaded by Michael Saylor, who’s arguably one of Bitcoin’s biggest proponents, will now pay the board fees to its non-employee directors in bitcoin.

  • According to a new filing with the United States Securities and Exchange Commission (SEC), MicroStrategy has modified the compensation arrangements for non-employee directors.
  • Per the document, they will “receive all fees for their service on the Company’s Board in bitcoin instead of cash.”
  • Going even further, the filing reads that “in approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.”
  • As to the technicalities of the payments, the amount of the compensation payable to each non-employee director will remain unchanged and nominally denominated in USD. However, at the time of payment, the fees will be converted from USD into bitcoin using a payment processor and deposited to the wallets of the applicable non-employee directors.
  • With this move, the company cements its already bullish stance on Bitcoin and highlights its strong belief in the primary cryptocurrency and the technology that underpins it.
  • The company is also getting closer to owning almost 100,000 bitcoins.
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Source: https://cryptopotato.com/microstrategy-directors-now-receive-board-fees-in-bitcoin/

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Blockchain

ConsenSys-Backed Virtue Poker Closes $5 Million Strategic Investment Round

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Virtue Poker, a project backed by the blockchain mogul ConsenSys, has completed a strategic investment round of $5 million.

Strategic Investment Ahead of Mainnet Launch

The news comes ahead of the mainnet launch, which is scheduled to happen in May 2021.

Virtue Poker is the only blockchain-based company that’s received an official license from the Malta Gaming Authority, Virtue Poker has closed a $5 million strategic investment round led by notable investors ConsenSys, DFG Group, Pantera Capital, and Jez San from FunFair.

In a press release shared with CryptoPotato, the project’s CEO, Ryan Gittleson, said:

“After years of consultation, in-person meetings, and effort, Virtue Poker can proudly say we are the only licensed blockchain-based poker application in the market.”

The project tackles some of the pressing issues that are currently riddling major poker platforms by leveraging the capabilities of distributed ledger technology.


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“Blockchain technology provides modern and secure payment infrastructure that provides global accessibility to consumers, unlike our competitors.

By working with regulators to become a licensed online gambling company, Virtue Poker now has the legitimacy to crossover and compete for customers from legacy providers to bring blockchain-based wagering mainstream.”

The Virtue Poker team, as well as the Malta Gaming Authority (MGA), worked together for more than two years in establishing a regulatory framework that’s suitable for blockchain-based gambling applications. The company is now allowed to operate legally and compete in most global markets to deliver the promise of fair pair playing, as well as transparency to mainstream adoption.

What’s Next?

Next in the pipeline for Virtue Poker is the release of the mainnet, which is scheduled for May 2021. Phil Ivey, the legendary player and member of the Poker Hall of Fame, who’s also a stakeholder in Virtue Poker, said:

“I’ve been working with the Virtue Poker Team for over 3 years,” says Ivey. “Their innovative blockchain platform can be a major part of poker’s future.”

The project is among the first ones to be incubated by ConsenSys – it was founded not much after the debut of Ethereum.

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Source: https://cryptopotato.com/consensys-backed-virtue-poker-closes-5-million-strategic-investment-round/

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Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

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Funding rates for many major altcoins were quite high, prompting that a shakeout to reset funding could occur sometime soon. On the spot trading side, Litecoin and Dogecoin saw heavy demand in the past few days as they flipped crucial levels of resistance to support. Chiliz continued to slide down the charts.

Litecoin [LTC]

Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

Source: LTC/USD on TradingView

On the hourly chart, LTC formed a rising wedge pattern (white) and dipped from $228 to $217 before resuming its move upwards. The $220 area of demand lived up to its name, and the $230 and $244 levels have been flipped to support.

LTC was trading at $256 at the time of writing. The $270 and $287 are levels of overhead resistance.

While the Awesome Oscillator was forced to retreat to the zero lines, on longer timeframes, momentum was strongly bullish.

Dogecoin [DOGE]

Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

Source: DOGE/USDT on TradingView

Dogecoin flipped the $0.062 level from resistance to support a few days ago and has seen strong buying volume since. The RSI reached into overbought territory and pulled back to 66 as DOGE also saw a pullback from $0.075 to test the $0.0716 retracement level.

A deeper retracement to $0.066 is also possible. After this correction, DOGE would likely begin another move toward $0.08, and some extension levels are plotted in gray.

Dropping beneath the 50% retracement level at $0.062 will see DOGE descend toward $0.05 once more.

Chiliz [CHZ]

Litecoin, Dogecoin, Chiliz Price Analysis: 12 April

Source: CHZ/USDT on TradingView

Chiliz was in a steady downtrend since reaching highs at $0.94. CHZ has support at $0.47 and $0.42, and a further drop could see demand step in at $0.37. However, there was no sign that CHZ was ready to begin recovery toward $0.9 again.

The A/D line showed strong, steady selling pressure on CHZ which has forced the coin to trend lower down the charts in recent weeks. It appeared to be only a matter of time before CHZ broke beneath the $0.4 mark.


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Source: https://ambcrypto.com/litecoin-dogecoin-chiliz-price-analysis-12-april

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