Category Archives: Binance Smart Chain
DeFi TVL down 30% YoY yet liquid staking and Tron based projects … – CryptoSlate
The total value of assets locked (TVL) on decentralized finance (DeFi) projects recorded a 30% year-on-year decline to drop to its lowest point for this year at $36.95 billion, per data from DeFillama.
While DeFi projects started the year strongly, peaking at more than $52 billion in April, the sector has witnessed six months of consistent underperformance, dragging it to its current low.
In the ever-evolving landscape of the DeFi sector, liquid staking projects have emerged as a beacon of resilience, contrasting with the broader decline seen in other DeFi categories.
Despite the prevailing bearish sentiments, liquid staking projects have thrived, returning almost 300% from their 2022 low to nearly $20 billion in TVL, according to DeFillama data. As of the latest figures, TVL now stands at $17.67 billion.
Lido is the dominant player within this niche, maintaining over 50% of the market share, outpacing major contenders like Binance, Coinbase, and Kraken, as per insights from Nansen data shared with CryptoSlate.
The Tron network, too, has witnessed significant growth in its DeFi projects, with their contribution to the overall TVL hitting an all-time high of 18.23% from the 6.5% recorded earlier in the year.
On-chain sleuth Patrick Scott attributed Trons increased TVL to the growth of the first Real-World Assets (RWA) on the network, stUSDT. According to DeFillama data, the projects TVL is nearing $2 billion in just four months since its launch.
However, CryptoSlate reported that the project has come under scrutiny, primarily due to its governance and transparency, while some of its claimed partners, like Tether (USDT), have denied any affiliations.
Meanwhile, Ethereum remains the primary platform for DeFi projects and applications, controlling more than 50% of the market. Other networks like Binance Smart Chain, Polygon, Arbitrum, and others also host many projects.
As the TVL has flatlined, DeFi projects have encountered another challenge: a decrease of approximately 2.5 million active monthly users throughout the year, Altindex reported, citing a Dune Analytics dashboard by rchen8. Per the report, the decline commenced in May and has maintained a downward trend.
In May, the DeFi sector boasted over 3.8 million monthly users, but by October, this figure had dwindled to around 1.15 million, compared to the 2.7 million users reported the previous October. Overall, monthly unique users have dropped by 66% from the all-time high of 7.51 million recorded in November 2021.
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DeFi TVL down 30% YoY yet liquid staking and Tron based projects ... - CryptoSlate
Crypto Trader Warns One Top-10 Blue-Chip Altcoin Not Looking … – The Daily Hodl
A widely followed analyst is urging caution on a multi-billion dollar crypto asset as it hovers above a key support level.
Pseudonymous trader Altcoin Sherpa tells his 196,700 Twitter followers that the utility token of the Binance crypto exchange and the native token of the Binance Smart Chain (BNB) is not looking great, to be honest.
While I believe in Binance longer term, theres so much fear, uncertainty, doubt (FUD) associated with that exchange that its probably best to be cautious overall. Not trading this one currently.
BNB, the fourth-largest crypto asset by market cap, is trading at $208 at time of writing.
Turning to Bitcoin (BTC), Altcoin Sherpa says that the flagship crypto asset could fall to $27,000 or lower amid bearish price action.
Its an area [$27,000] that has a lot of support/confluence and, given this current environment, I dont know if were going to see one of those big rips to the downside (in the short term).
More likely that we grind down I think.
Bitcoin is trading at $27,223 at time of writing.
Next up is the native token of non-fungible token (NFT) marketplace Blur (BLUR). According to Altcoin Sherpa, BLUR is currently probably undervalued given the fact that the NFT marketplaces older competitor, OpenSea, is likely to be worth billions.
The pseudonymous analyst, however, says that he doesnt see any reason to buy the altcoin at the moment while attaching a chart that shows BLUR consistently and consecutively hitting new all-time lows over its lifetime, amid declining volumes.
BLUR is trading at $0.159 at time of writing, down by over 95% from the all-time high reached in February this year.
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Crypto Trader Warns One Top-10 Blue-Chip Altcoin Not Looking ... - The Daily Hodl
DeFi investors flee BNB Chain; What’s happening? – Finbold – Finance in Bold
Amid worldwide regulatory scrutiny against Binance and other crypto centralized finance (CeFi) service providers, the BNB Chain (formerly Binance Smart Chain) has seen close to $2 billion in outflows from its decentralized finance (DeFi) ecosystem in 2023.
Interestingly, Changpeng Zhao (CZ), Binance CEO, had predicted DeFi would outperform CeFi in the next bull run.
Binances CEO prediction was made live in X Spaces Ask Me Anything (AMA) session on September 3, where CZ talked about the challenges his company was facing, but also other regulatory matters related to DeFi platforms.
However, numbers related to Zhaos most relevant holdings on the BNB Chain (BNB) native token can pose even more challenges for the crypto-billionaires vision for the cryptocurrency market, and Binances success in a rumored new focus on the decentralized finance sector.
Data retrieved by Finbold from DefiLlama on October 7, shows a loss of $1.85 billion in the total value locked (TVL), year-to-date (YTD) for the BNB Chain. With a registered total value invested of $4.65 billion by January 1, 2023, to around $2.8 billion TVL at the time of publication.
Notably, the two leading DeFi protocols on the BNB Chain PancakeSwap (CAKE) and Venus (XVS) dominate the majority of the total value invested, currently with $1.27 billion and $608.46 million TVL, respectively. Both are also respectively registering outflows of 1.52% and 7.18% in the last 30 days.
Interestingly, the third biggest DeFi protocol by total value locked is actually accounting for Binance staked ETH, which is measured in Ethereum (ETH), rather than in BNB. Therefore, accruing value for the former chain, as investors are just using CZs structure while picking ether for staking to receive their passive income.
It is also important to say that the BNB tokens have lost 13.8% of their value YTD. With a starting trading price of $246.66 on January 1, to a current trading price of $212.62 by press time.
The TVL metric was also impacted by this value loss, considering the total value is measured in USD by DefiLlama, despite being invested in BNB. Nevertheless, there are also fewer BNB tokens locked into its chains protocols since the start of 2023.
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DeFi investors flee BNB Chain; What's happening? - Finbold - Finance in Bold
The Best 5 BEP20 Wallet in 2023: All You Need to Know – Latest Cryptocurrency Prices & Articles
In the early days of cryptocurrency, creating a new token was a daunting task, often requiring the development of an entirely new blockchain or a Bitcoin fork.
However, Ethereum revolutionized this landscape by transforming blockchain technology into a versatile development platform. The introduction of the ERC-20 token model provided a fundamental framework for crafting new cryptocurrency tokens.
As the cryptocurrency ecosystem evolved, innovative projects emerged, each with unique blockchain technology. One such project is the BNB Smart Chain (BSC), which introduced its token standard, BEP-20.
With the emergence of the BEP-20 standard, the demand for wallets that support it obviously grew.
So, in this article, well explore the top BEP20 wallets available in 2023 and provide essential insights. Lets get started!
The BEP-20 (or BEP20, an acronym that stands for Binance Smart Chain Evolution Proposal) is a token standard developed by the Binance crypto exchange and operates on the BNB Smart Chain (BSC) and can be seen as an expansion of the widely-used ERC-20 standard on Ethereum.
It serves as a set of guidelines for tokens in this blockchain, specifying how they can be utilized, who has the authority to use them, and other regulations governing their functionality.
Following the BEP-20 token standards, people can easily create new tokens on the BNB Smart Chain. This process is simple and doesnt require advanced programming skills, which is a significant advantage. Developers dont need to build a new blockchain from scratch, and they arent limited to the Ethereum Token Standard.
Notably, the BEP-20 standard is not only inspired by but also fully interoperable with the ERC-20 standard.
Some examples of BEP20 standard tokens are BNB, PancakeSwap, Binance USD, SafeMoon, and others.
A BEP20 wallet is a wallet that allows you to manage BEP20-compliant tokens. In order to store and manage coins from the BNB Smart Chain (BSC) blockchain, users need a compatible cryptocurrency wallet.
These wallets offer a secure means for users to store, send, and receive BEP-20 tokens, much like Ethereum wallets facilitate the management of ERC-20 tokens.
They are crucial for individuals seeking to participate in activities involving tokens and decentralized applications (DApps) on the Binance Smart Chain.
A BEP20 wallet functions much like other crypto wallets. When you create a BEP20 wallet, you receive both private and public keys. The private key is a secret code granting access to your wallet, while the public key is used to receive BEP20 tokens.
The primary role of a BEP20 wallet is to store, send, and receive BEP-20 tokens. To achieve this, you generate a unique BEP20 wallet address consisting of alphanumeric characters. Its crucial to remember that each BEP-20 wallet address is exclusive and should remain confidential.
Once you have a BEP-20 wallet address, you can easily transfer BEP-20 tokens to and from the wallet. To send tokens, enter the recipients BEP-20 wallet address in the wallets send function. Specify the number of tokens you want to send and confirm the transaction.
Now that you have a good grasp of the fundamentals, lets explore the top 5 BEP-20 wallets for you to consider. To simplify your decision-making process, weve categorized them into the best hardware wallets and the best software wallets.
Our selection criteria include factors such as security, overall reputation, technology features, support for a wide range of coins (especially BEP-20 tokens), and more.
Based on our research, the best hardware BEP20 wallet at the time of writing this article is SafePal S1.
SafePal S1 is a secure hardware BEP20 wallet designed for safeguarding digital assets. Developed with backing from Binance, it caters to crypto enthusiasts with its user-friendly interface.
Managing SafePal products is easy through the centralized SafePal app, simplifying key generation and urging users to secure their recovery seed.
SafePal prioritizes security with a durable battery and no reliance on USB, WiFi, or Bluetooth, minimizing remote attack risks and unauthorized access.
SafePal is compatible with over 63 blockchain networks, including a wide array of ERC-20 and BEP-20 tokens. Based on the wide range of BEP-20 tokens supported, SafePal is a top choice for us.
Ledger Wallets is our second choice when it comes to the best BEP2 wallets, especially when it comes to hardware wallets. And when we say Ledger, that means all hardware wallets developed by Ledger, including Ledger Nano S, Ledger Nano X, and Ledger Stax.
Crafted by the renowned Paris-based company, Ledger is a secure and user-friendly hardware wallet for storing and managing cryptocurrencies.
The Ledger hardware wallets act as a personal vault, keeping cryptocurrencies safe from online threats like hackers and malware.
What sets Ledger Wallet apart is its innovative and intuitive design. The wallets are thoughtfully crafted to provide a seamless user experience, even for those new to crypto. With Ledger Wallet, you dont need to be a tech expert to manage your digital assets securely. Its user-friendly interface and straightforward setup process make it accessible to everyone, ensuring that anyone can easily safeguard their cryptocurrencies.
Ledger supports natively over 50 cryptocurrencies, all ERC-20 tokens, and some BEF-20 tokens. Ledger is ranked #2 in our top list precisely because it does not support various BEP20 tokens.
MetaMask Wallet was founded in 2016 and emerged as a non-custodial crypto wallet tailored for Ethereum blockchain interaction, nurtured by ConsenSys.
With over 30 million active users per month, it reigns as the leading non-custodial crypto wallet globally and our top pick among software BEP20 wallets.
MetaMask thrives within a vibrant community, supported by millions of downloads and abundant resources dedicated to its advancement.
Using MetaMask ensures swift, secure key and password generation on your devices. Crucially, you retain full control over your data and accounts, empowering you to decide what remains private or shared.
This versatile tool comes as a browser extension or mobile app for your convenience.
MetaMask initially supports Ethereum, endowing users with unique ERC20 wallet addresses. Consequently, users can swiftly fund their MetaMask wallets with Ethereum and many ERC20 tokens. Beyond Ethereum, MetaMask diversifies its support for various network standards, including Arbitrum, Optimism, Binance Smart Chain, Polygon, Avalanche, Fantom, Celo, Harmony, Palm, and Aurora.
Trust Walletis a non-custodial wallet and, simultaneously, a great BEP 20 wallet and decentralized wallet that gives users full control over their cryptocurrencies and NFTs. It serves as the official wallet for Binance Exchange, supporting more than 70 different blockchains and housing an extensive collection of over 9 million digital assets.
One of its standout features is its seamless integration with decentralized applications (DApps), ensuring secure interactions across various blockchains.
Trust Wallet offers many functions, including buying, sending, receiving, staking, trading, and securely storing cryptocurrencies.
It operates as a hot wallet, meaning its connected to the internet, providing unmatched flexibility for managing your assets from anywhere and at any time.
Trust Wallet is conveniently available on Android, iOS, and as a browser extension.
As mentioned earlier, Trust Wallet proudly supports multiple blockchains (over 70) and hosts a vast collection of over 9 million digital assets. When it comes to cryptocurrencies, youll discover all the major ones like BTC, ETH, DOGE, SOL, and DOT, as well as tokens like CAKE, BUSD, SAFEMOON, and more. This includes compatibility with the ERC20 and BEP20 networks.
Last but not least, Coinbase Wallet. Coinbase Wallet BEP 20 wallet was introduced in 2018 and is an online cryptocurrency wallet, often referred to as a hot wallet, that gives users control over their digital assets.
Its strong connection to the Coinbase crypto exchange is known for its top-notch security features, making Coinbase Wallet one of the most secure options for storing cryptocurrencies.
With this wallet, users can securely store their digital currencies and access decentralized applications (DApps) on different networks.
For added peace of mind, Coinbase Wallet is backed by FDIC insurance, which covers up to $250,000 of your fiat currency.
You can access it through any modern web browser, iOS, or Android device.
Coinbase Wallet covers major cryptocurrencies, including Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, Ripple, and Solana. It also works with Ethereum Layer-2 networks like Arbitrum, Avalanche C-Chain, Binance Smart Chain ecosystem, Fantom Opera, Optimism, Polygon, and Gnosis.
A BEP-20 address is a unique string of alphanumeric characters that identifies a wallet on the Binance Smart Chain (BSC). It is used for sending, receiving, and storing BEP-20 tokens, which are digital assets that adhere to the BEP-20 token standard on the BSC.
A BEP20 wallet address or a Binance Smart Chain address typically begins with the prefix x0. Its important to note that while this x0 prefix is commonly used for a wallet address on the Binance Smart Chain (BSC) or a Binance Smart Chain wallet, its not a mandatory requirement defined by the BEP20 token standard. Some projects or tokens on the BSC may follow this naming convention, but its not universally applicable to all BEP20 tokens.
There are plenty of crypto wallets in the market that accept BEP20 tokens. Based on our research, the best are SafePal, Ledger, MetaMask, Trust Wallet, and Coinbase Wallet.
However, there are others you can research yourself, such as Math Wallet or Ellipal Wallet.
Yes, MetaMask offers users the ability to add the BNB Smart Chain or Binance Smart Chain (BSC) RPC network to their wallet. This integration allows users to safely store and conduct transactions with BEP20 tokens.
Yes, Coinbase Wallet is a decentralized wallet that supports a multitude of BEP20 tokens.
As the cryptocurrency landscape continues to evolve, the emergence of BEP-20 tokens on the Binance Smart Chain has fueled the demand for wallets that support them.
Whether youre looking for a hardware wallets enhanced security or a software wallets convenience, the options available today provide a robust ecosystem for managing BEP-20 tokens and participating in the Binance Smart Chain network.
As the crypto space continues to innovate, staying informed and choosing the wallet that aligns best with your specific requirements is essential.
* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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The Best 5 BEP20 Wallet in 2023: All You Need to Know - Latest Cryptocurrency Prices & Articles
Binance froze cryptocurrency accounts associated with Hamas amid … – Tekedia
In a major blow to the Palestinian militant group Hamas, Israeli police announced on Monday that they had frozen several cryptocurrency accounts linked to the organization. The accounts, which were used to fund Hamass activities in the Gaza Strip and the West Bank, were traced and blocked with the assistance of Binance, one of the worlds largest cryptocurrency exchanges.
According to a statement by the Israeli police, the operation was carried out by the cyber unit of the Lahav 433 anti-fraud division, in cooperation with the national security agency Shin Bet and the Israel Tax Authority. The police said they had identified and seized more than 150 cryptocurrency accounts, wallets and addresses that received donations from Hamas supporters around the world.
The police also said they had uncovered a complex network of websites and social media platforms that Hamas used to solicit donations in various cryptocurrencies, such as Bitcoin, Ethereum and Dogecoin. The donations were then transferred to the accounts that were controlled by Hamas operatives in Turkey and Gaza.
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The police estimated that Hamas had raised tens of millions of dollars through this scheme, which was launched in early 2019 after the group faced a severe financial crisis due to the blockade imposed by Israel and Egypt on Gaza. The police said that the cryptocurrency donations enabled Hamas to bypass the banking system and the international sanctions imposed on it as a designated terrorist organization.
Binance, which is based in the Cayman Islands and has offices in several countries, confirmed that it had cooperated with the Israeli authorities in their investigation. A spokesperson for Binance said that the exchange had a zero-tolerance policy for illicit activity on its platform and that it was committed to working with regulators and law enforcement agencies to safeguard the interests of our users and the broader industry.
The spokesperson also said that Binance had implemented robust compliance and security measures to detect and prevent suspicious transactions, such as advanced identity verification, blockchain analysis and cyber threat intelligence.
The freezing of Hamass cryptocurrency accounts is not the first time that Israel has targeted the groups online fundraising efforts. In August 2019, the Israeli military said it had hacked into a website run by Hamass military wing, the Qassam Brigades, and exposed its Bitcoin donation campaign. The military said it had also sent warning messages to potential donors, alerting them that they were exposing themselves to legal action and cyber attacks by supporting Hamas.
Hamas has not yet commented on the latest Israeli operation, but it is likely that the group will try to find new ways to raise funds through cryptocurrency or other means. Hamas has been engaged in a long-running conflict with Israel, which has intensified in recent months following a series of violent clashes and rocket attacks.
Binance, the worlds leading cryptocurrency exchange, has announced that it is reducing the minimum order sizes for some of its spot and margin trading pairs to 1USDT. This means that traders can now execute orders with smaller amounts of capital, allowing them to diversify their portfolios and access more opportunities in the crypto market.
The new minimum order sizes apply to the following trading pairs:
BTC/USDT
ETH/USDT
BNB/USDT
ADA/USDT
DOGE/USDT
XRP/USDT
DOT/USDT
SOL/USDT
LUNA/USDT
AVAX/USDT
The change will take effect on October 15, 2023, at 00:00 AM (UTC). Traders who have open orders below the new minimum order sizes will not be affected by this update. However, they will not be able to modify or cancel their orders until they meet the new requirements.
Binance said that the decision to lower the minimum order sizes was based on user feedback and market demand. The exchange aims to provide more flexibility and convenience for its users, especially those who are new to crypto trading or have limited funds. By lowering the barriers to entry, Binance hopes to attract more users and increase the liquidity and depth of its markets.
Binance also reminded its users to trade responsibly and be aware of the risks involved in crypto trading. The exchange advised its users to do their own research, use proper risk management tools, and follow the platforms rules and regulations.
Binance is constantly improving its products and services to offer the best trading experience for its users. The exchange has recently launched several new features and initiatives, such as:
Binance NFT Marketplace, a platform for buying and selling digital collectibles and artworks. Binance Pay, a peer-to-peer payment service that supports multiple cryptocurrencies and fiat currencies.
Binance Earn, a suite of products that allows users to earn passive income from their crypto assets. Binance Smart Chain, a blockchain network that supports smart contracts and decentralized applications. Binance Charity, a non-profit organization that uses blockchain technology to empower social good.
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Binance froze cryptocurrency accounts associated with Hamas amid ... - Tekedia
Shiba Inu Price Prediction: Everlodge and Cosmos (ATOM) Lead Bullish Charge Amidst Crypto Turmoil – Yahoo Finance
New York --News Direct-- Total Media
The cryptocurrency market, known for its ever-changing landscape, has recently experienced its fair share of turbulence. Amid this storm, many traders are looking at promising alternative tokens. This article will dive into the recent performance and potential future trajectories of Shiba Inu (SHIB), Cosmos (ATOM), and Everlodge (ELDG) to gain insights into how these tokens might fare amidst the current market turmoil.
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Shiba Inu (SHIB) has been making strides in becoming a more widely accepted digital currency. The recent news that Honda, a renowned global brand, has embraced the Shiba Inu coin as a form of payment is a significant milestone for the token.
Honda's collaboration with FCF Pay to facilitate transactions in digital currencies, including Shiba Inu, shows its potential utility beyond being a meme coin. Such real-world use cases can contribute to the token's legitimacy and long-term value proposition.
With major brands like Honda recognizing Shiba Inu, some experts believe that it could experience continued growth. Thus, they foresee the Shiba Inu price reaching $0.00001078 by December 2023.
Cosmos (ATOM) is exhibiting robust bullish signals, and the recent developments surrounding its Inter-Blockchain Communication (IBC) protocol have been instrumental. The public release of a repo showcasing the bridging capabilities between Ethereum and Cosmos through IBC is a significant milestone.
The day approaches when Ethereum, Binance Smart Chain, and Cosmos become interconnected via IBC. This will unlock a new realm of possibilities for cross-chain transactions and collaborations.
Because of this, analysts are optimistic about the future of the Cosmos crypto. They forecast a potential Cosmos price range between $9.51 and $10.83 within Q4 of 2023.
Story continues
Everlodge (ELDG) has quickly made a name for itself with its stellar presale performance. This rising presale star is now in Stage 4 of its presale. Those who bought it early on are currently enjoying a 90% ROI. People are drawn to this innovative trading platform that aims to solve all real estate market issues.
For instance, the real estate market has long been characterized by a substantial barrier to entry: the exorbitantly high initial investment required. Everlodge will change this by digitizing and minting prestigious hotels, vacation homes, and luxury villas into NFTs and fractionalizing them. As a result, Everlodge removes the need for a staggering upfront capital.
Not only that, but one of the significant drawbacks of traditional real estate investments is the lack of liquidity. Properties often tie up considerable capital for extended periods. However, Everlodge will enable property-backed NFT trading on secondary markets. This innovation allows investors to buy, sell, or trade their tokens swiftly.
While the ELDG native token now costs only $0.019, its low market cap conceals a potential gem. With a 30x rally forecasted on its launch day, which is coming fast, Everlodge could outpace even Shiba Inu and Cosmos. Therefore, ELDG may be the hottest presale in 2023.
Find out more about the Everlodge (ELDG) Presale
Website: https://www.everlodge.io/
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Trader Warns One Blue-Chip Altcoin Is Hanging On for Dear Life, Updates Outlook on Bitcoin and Ethereum – The Daily Hodl
Widely followed pseudonymous trader Altcoin Sherpa is issuing a warning on three of the top ten crypto assets by market cap.
Altcoin Sherpa tells his 196,400 followers on the X social media platform that Binance Coin (BNB), the native token of Binance Smart Chain and a utility token on the Binance crypto exchange, is hanging on for dear life.
I think its best to stay away from this one in the short term. I still think Binance is likely okay but its important to be cautious during these uncertain times.
The analysts chart suggests that the fourth-largest crypto asset by market cap lacks upward momentum after failing to break through the resistance level at around the $330 price six times since May of 2022. Meanwhile, Altcoin Sherpas chart shows that BNB has broken below a two-month-long range, with the next support level over 10% below its current price.
BNB is trading for $210 at time of writing.
Turning to Bitcoin (BTC), Altcoin Sherpa says that he is bullish on the flagship in the near term.
BTC: Still of the opinion this is going to go to $28,000 overall. Four-hour exponential moving averages all looking decent in the short term and not overextended; I think that we see another push-up.
Bitcoin is trading at $26,717 at time of writing.
In the case of Ethereum (ETH), the trader says that the price performance of the second-largest crypto asset by market cap against Bitcoin is likely to determine what altcoins do next.
ETH: The time is soon to buy altcoins for a run in my opinion would like to see ETH/BTC come a bit lower and then look for a decent sized altcoin run by the end of this year.
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Blockchain testing considerations – ARC
While blockchain was originally developed as a secure ledger system for the cryptocurrency Bitcoin, since 2008 others have recognized the technologys value for other applications. Its versatility and potential for secure, transparent, and tamper-resistant record-keeping have led to its adoption in various other applications, including supply chain management, voting systems, identity verification, smart contracts, and more.
In its original application, blockchains key objectives were:
Decentralization: Blockchain eliminates the need for a central authority, such as a bank or government, to verify and record transactions. Instead, a network of nodes (computers) participating in a distributed ledger system verifies transactions and adds them to the blockchain.
Security: Blockchain uses cryptographic techniques to secure transactions, making it extremely difficult to tamper with or alter transaction data once it's recorded on the blockchain. This provides a high level of security against fraud and unauthorized changes.
Transparency: All network participants have visibility into every transaction on a blockchain, providing a transparent and immutable ledger. This transparency is essential for building trust in the absence of a central authority.
Trust: Blockchain allows parties to transact directly with each other without needing to trust a third party. Parties trust the mathematical and cryptographic principles governing the blockchain's operation, rather than an individual or organization.
Immutability: Once a transaction is added to a blockchain, it is nearly impossible to alter or delete it. This immutability is a fundamental feature of blockchain technology.
1. Loyalty programs
There are clear crossovers between cryptocurrency and other forms of payment transactions. Web3 loyalty programs allow brands to use blockchain to streamline the process of managing rewards, while offering customers improved access to more compelling benefits. For many consumers, these applications provide a low-risk introduction to the technology, helping them become comfortable with digital currency and blockchain with relatively low investment. Points, vouchers and loyalty rewards can be used in the same way as other forms of currency, and need to function like familiar payment flows.
2. Healthcare
Electronic healthcare records offer complete visibility into a patients medical record for everyone involved in the continuum of care, from primary care providers and specialists to emergency medical responders and pharmacists. This level of interoperability has great benefits to patients and practitioners alike. With complete access to a patients records, providers can see patterns and changes over time, and understand how different conditions may impact one another. Patients benefit from enhanced, holistic insight into their overall health.
While concerns about privacy, interoperability, decentralization and the vast infrastructure required to maintain such records has kept the matter from progressing much in the United States, other countries have begun to incorporate blockchain applications into different aspects of the healthcare system. For example, some hospitals across the UK have adopted a tool that allows patients to manage their medical data. The country of Malta uses a blockchain application to manage dynamic consent for participation in biomedical research. Estonian citizens have fully electronic health records and the ability to determine which providers have access to which records.
3. Government
In fact, Estonia showcases how the digitalization of government creates ease and efficiency when executed effectively. E-Estonia stands out as an example of blockchains potential and promise: typical government services have been connected via a single digital platform, linking all citizens and official functions. Education, healthcare, banking, voting, taxes, and legislation all occur online. Each entity whether its a bank, doctors office, school, or government organization maintains its own data, which is shared via end-to-end encrypted pathways using the governments platform.
Estonias model has inspired others to explore how blockchain can remove friction from cumbersome administrative processes. In Rhode Island, Commerce Secretary Elizabeth Tanner is looking to leverage blockchain to streamline the process of starting a business. While Tanner refers to the tech as a distributed ledger technology to avoid the negative connotations often associated with blockchain in the wake of crypto failures, she recognizes its potential for digital identity verification. Once established, the digital identity system could support a variety of initiatives to reduce state administrative costs and improve efficiency.
No matter what your application uses blockchain to do, you need to ensure it functions as intended in the real world, and works seamlessly and intuitively. The decentralized, distributed nature of blockchain makes it an excellent candidate for crowdtesting, allowing you to test under the varied real-world conditions where your apps will be put to use. Here are some quality considerations where crowdtesting can deliver valuable insight, quickly.
Scalability and load testing: Blockchain systems must handle a growing number of transactions and users. Conduct load testing to determine how the blockchain performs under heavy transaction volumes and high network activity, and assess how effectively the system can scale. Event-driven activity, like elections or ticket/voucher releases, can draw spikes in traffic make sure youre prepared to handle them.
Interoperability testing: If your blockchain interacts with other blockchains, various blockchain networks (e.g., Ethereum, Binance Smart Chain), or external systems, conduct interoperability testing to ensure seamless communication and data exchange. Test compatibility and functionality across different blockchains.
This applies to a variety of scenarios, such as smart contracts, interoperable identities, or data sharing for supply chain management. There are many applications within payments, including cross-border payments or casino and sportsbook transactions that may include loyalty points, promotional credits, microloans, and other digital currency exchanges. Its critical to validate functionality across the full ecosystem, including multiple enterprise payment instruments.
User experience testing: Evaluate the user experience, including the ease of onboarding, transaction processing times, and overall usability of the blockchain application. Gather feedback from the community to identify issues and areas for improvement. Collecting input from parties on both sides of a transaction helps shape a better experience for all users.
While the government cant lose clients, those in other industries need to ensure a smooth UX to keep users coming back. Just one bad experience can deteriorate trust. While protecting your reputation is always the best approach, testing can help brands recover credibility following negative publicity or reports of poor customer sentiment. For example, when one financial trading platform was struggling, a strong UX research program helped provide unbiased feedback about how customers perceived the company and its products. Armed with data, the organization was able to determine which policy and workflow changes and product updates would help it effectively rebuild trust.
Cross-platform testing: If your blockchain application has mobile or web interfaces, ensure that it functions correctly on various platforms and browsers, in the areas where your users are. Users expect your app to work on different devices, networks, operating systems and configurations. Make sure your app functions properly on the devices and systems your customers use most and that its localized correctly for the markets where you operate.
Testing blockchain experiences can be complex due to the distributed and decentralized nature of the technology. It's essential to conduct a comprehensive range of tests to ensure the reliability, security, and functionality of your blockchain application.
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Set your crowdtesting efforts up for success with these six steps. Learn how to select a project, develop success criteria, and lay the foundation for an effective partnership.
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Toncoin Price Slides 7%, But Bitcoin BSC Continues to Defy Bearish … – CryptoPotato
The crypto market continues to display volatility in September, with Toncoin (TON) falling 7% in the past 24 hours.
TON is now hovering around the $2.33 level and investors are now pondering whether this is just a minor pullback or a sign of a deeper correction.
Meanwhile, emerging crypto Bitcoin BSC (BTCBSC) continues to defy the bearish sentiment, raising $4 million in its ongoing presale event.
Toncoin has been one of the top gainers in the crypto market over the past month, rising 86% since August 19.
The coins performance has been made even more impressive, considering the broader crypto market has remained in a downtrend over this period.
While Bitcoin and Ethereum have struggled to make any significant headway, Toncoin has continuously posted higher highs and higher lows indicative of a strong uptrend.
However, over the past 24 hours, Toncoin has slid by 7%, retreating from Tuesdays high of $2.59.
Daily trading volume has also fallen 12% to $50.7 million, while the coins market cap will likely fall below $8 billion if the slide continues.
Digging deeper, data from Etherscan.io reveals that the number of unique TON holders has begun to plateau.
This could indicate that the massive growth Toncoin saw throughout August and early September might be starting to slow down.
The tapering off in new holders could be partly responsible for Toncoins recent price pullback.
Additionally, broader weakness across the crypto market is likely weighing on sentiment around TON, with the Crypto Fear & Greed Index hovering dangerously close to Fear territory.
From a technical perspective, TONs price has rejected a key resistance zone around $2.60, which was also tapped in January and February of this year.
If this resistance holds, it could mean that TON faces some short-term challenges before attempting another push.
Some investors even speculate that a consolidation phase could be on the horizon, which often occurs after a coin experiences a sharp price rise.
Toncoins value also appears to be affected by the Federal Reserves hawkish comments, which came after Fed Chair Jerome Powell opted to keep interest rates as they were on Wednesday.
Powell noted that the benchmark interest rate may be lifted once more this year to reach the 5.50%-5.75% range a move that could have a negative impact on the crypto market as a whole.
While Toncoin continues to face selling pressure, one emerging project is generating growing interest.
Bitcoin BSC (BTCBSC) has raised an impressive $4 million in its ongoing presale event, hitting its soft cap target in three weeks and setting its sights on the maximum $6 million hard cap.
BTCBSC aims to offer a second chance for investors to buy a Bitcoin-style asset at a low price, with the presale offering tokens for just $0.99 reminiscent of BTCs early days.
However, unlike Bitcoin, BTCBSC is based on the Binance Smart Chain and uses the BEP-20 standard, enabling it to offer staking rewards to token holders.
As outlined on Bitcoin BSCs staking dashboard, holders can earn yields of 130% per year by staking their BTCBSC, with rewards paid every 10 minutes.
Once Bitcoin BSCs presale ends, BTCBSC tokens will be listed on decentralized exchanges (DEXs), with 2% of the total token supply set aside to provide liquidity.
This liquidity will also be locked ensuring that early investors are protected from potential rug pulls or price manipulation.
Bitcoin BSCs team has even placed a great deal of focus on security and transparency, with the smart contract being strictly audited by Coinsult, one of the leading blockchain security firms in the industry.
As the presale heads toward its hard cap, the hype around BTCBSC continues to build hinting that it could be another breakout star, much like Toncoin.
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Toncoin Price Slides 7%, But Bitcoin BSC Continues to Defy Bearish ... - CryptoPotato
2023 Crypto Battle: $BNB’s Dominance, $XRP’s Hype or $DOMI’s … – Analytics Insight
The year 2023 has proven to be a crypto battleground, featuring three heavyweight contenders: Binance Coin ($BNB), Ripples $XRP, and the revolutionary Domini.art ($DOMI). $BNB has soared as the dominant force in crypto, embedded in the Binance ecosystem. $XRP rode the wave of cross-border payment innovation but faced regulatory challenges.
Meanwhile, $DOMI is reshaping art investment via blockchain. In this showdown, we explore their journeys and potential, offering insights into the captivating world of cryptocurrency investment.
Binance Coin ($BNB) has emerged as a dominant force in the cryptocurrency space since its inception. Born as the native token of the Binance exchange in 2017, $BNB quickly gained traction due to its utility within the Binance ecosystem. Its journey to dominance can be traced through several key factors.
Firstly, Binances rapid rise as one of the worlds largest and most reputable cryptocurrency exchanges propelled $BNB into the spotlight, creating massive returns for early investors. $BNB provided a convenient means to pay trading fees on the platform, granting users discounts and incentives for using it.
Moreover, $BNBs integration into the Binance Smart Chain (BSC) expanded its utility. BSC, designed to facilitate fast and low-cost transactions, attracted numerous DeFi projects and users looking for an efficient alternative to Ethereum.
$BNBs performance in the market has also contributed to its dominance. It has consistently shown resilience to market volatility and attracted both traders and long-term investors seeking potential returns. $BNBs price history has been marked by impressive gains, further solidifying its status as a dominant cryptocurrency.
In conclusion, $BNBs dominance through the years can be attributed to its strong presence within the Binance ecosystem, integration with BSC, and its consistent performance in the cryptocurrency market. As one of the most widely used and recognized tokens, $BNB continues to play a pivotal role in the crypto landscape.
Domini.art represents a seamless convergence of traditional art and cutting-edge blockchain technology. Its revolutionary strategy involves the tokenization of prestigious artworks into unique and indivisible NFTs (Non-Fungible Tokens).
This transformative step democratizes access to the realm of high-end blue-chip art, historically restricted to a privileged few. Yet Domini.arts invention doesnt stop at accessibility; it introduces a paradigm-shifting concept of fractional ownership.
This empowers beginner cryptocurrency investors and experienced investors alike, allowing them to hold fractional stakes in valuable artworks, a concept that liberates the art investment market from its traditional barriers. For those stepping into the captivating realm of cryptocurrency trading, Domini.art offers an irresistible entry point. Fractional ownership, a cornerstone of the Domini.art ethos, grants accessibility to the art investment arena while maintaining liquidity.
This inclusivity is not only attractive to newcomers but also appeals to seasoned investors looking to diversify their portfolios with assets that hold both value and cultural significance.
Domini.arts commitment to nurturing the art community is exemplified through its comprehensive advisory services. Spanning from emerging artists to established blue-chip masterpieces, these services provide tailored insights, market research, and personalized recommendations that cater to the unique goals of individual investors.
With $DOMI, its not just about owning a piece of art; its about owning a piece of a transformatory movement thats poised to be the best cryptocurrency to invest in.
Ripples $XRP, in recent years, has garnered significant attention and hype in the cryptocurrency world, driven by various factors that have contributed to its prominence.
One of the key drivers of $XRPs hype was its unique focus on facilitating cross-border payments for financial institutions. Ripples partnerships with major banks and financial service providers fostered optimism about the practical applications of blockchain technology in the traditional finance sector.
$XRPs impressive transaction speed and low fees compared to traditional banking systems also fueled the hype. Its potential to revolutionize global money transfers sparked interest among investors and financial institutions alike.
However, its important to note that $XRPs journey has not been without hurdles. Legal challenges from the U.S. Securities and Exchange Commission (SEC) regarding its classification as a security led to market turbulence and uncertainty, and these hurdles are still playing out to this day.
As the crypto stage unfolds in 2023, these three contenders$BNB, $XRP, and $DOMIshowcase the diverse possibilities within the cryptocurrency realm. $BNBs dominance within Binances expansive ecosystem remains robust. $XRPs hype around cross-border payments lingers amidst regulatory hurdles.
Meanwhile, $DOMI introduces an enticing fusion of art and blockchain, attractive to both novice and experienced investors. The crypto wars rage on, offering opportunities and challenges that mirror the dynamic nature of the digital asset landscape.
For Info about $DOMI, visit Domini.art Presale or Join the Community
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2023 Crypto Battle: $BNB's Dominance, $XRP's Hype or $DOMI's ... - Analytics Insight