Autor Cointelegraph By Brian Newar

Dragonfly Research claims Ethereum is the 'MS-DOS' of blockchains

Dragonfly Research claims Ethereum is the 'MS-DOS' of blockchains

Uverejnil používateľ | mar 3, 2022 |

An experiment from Dragonfly Research that compared the performance of six blockchains by testing the capacity of Automated Market Makers on each has found Solana’s Orca DEX was the clear winner in trades per second. It managed 273.34 trades per second and created a new block every 590 milliseconds.Binance Smart Chain (BSC) wasn’t too far behind with 194.6 trades per second on PancakeSwap, followed by Polygon (MATIC), Avalanche (AVAX), Celo (CELO), and finally Ethereum (ETH).A blog post by researcher “GM”  argued that while there was a rich ecosystem built on Ethereum Virtual Machine (EVM) compatible chains, the results showed “if you want really high performance now you have to look outside the EVM space.”  A now deleted line in an earlier version of the post suggested users will eventually need to “abandon the EVM.”Dragonfly Research is the research arm of Dragonfly Capital and its portfolio page shows that it has invested in Celo, Avalanche, Cosmos, and Near, which is mentioned in the report. It has not invested in Solana. GM concluded that with time, other layer-1 blockchains will surpass EVM-compatible chains. He wrote:“Overall I come away with this impression: Ethereum is the MS-DOS of smart contract operating systems. But the current era of blockchains takes us into the Windows 95 era.”EVM chains are blockchains that are compatible with Ethereum tooling. They often aid in the scalability of the Ethereum network. The results of the experiment were published on Mar. 2. It was an attempt to compare blockchain throughput by measuring how many swaps could be made per block on native automated market makers (AMM). AMMs refer to decentralized exchanges (DEX) such as Uniswap and PancakeSwap that facilitate non-custodial token swaps on-chain.The basic question GM attempted to answer was: “If you filled an entire block with Uniswap V2-style trades, how many trades per second would clear?”Uniswap V2 was used as the benchmark given it is the dominant DEX with $1.6 billion in 7-day transaction volume. The benchmark was 18.38 transactions per second with 13.2 seconds per new block according to the report. Author GM noted that although it is not a perfect benchmark, it is “illustrative in getting a holistic view of performance.” The leading DEX on each blockchain tested was spammed with token swaps on the most liquid pairs to determine the current limit of their capacity. They did not test rollup scaling on layer one chains because rollups can be used on all chains.While the five EVM chains in the experiment could be tested the same way, Solana required a different methodology which GM wrote about in a subsequent blog post.AMM test to assess performance of blockchainsGM wrote that none of the blockchains in the test were being used to their full capacity and that he expects “all of the major L1s will improve in their performance over time.”Although the results of the report demonstrated Solana’s faster performance, proponents of decentralization point to other issues on Solana. The team from the Spookyswap DEX on Fantom Opera — which is EVM compatible — criticized the findings, telling Cointelegraph that Solana “is a completely centralized network unlike Ethereum.”Solana has also been plagued with service outages, which has raised concerns about the security of the network and the reliability of applications in the ecosystem. The Spookyswap team added“Solana can be turned off and has a history of going down for days. You do not see that with proper EVM layer 1 chains.”GM urged readers to “Do the math yourself” to confirm or refute the conclusions he has come to. He also noted that optimizations on blockchains happen very quickly, so with the introduction of a new optimization on any chain, the results may vary. Related: StarkNet now open for DApp deployment on Ethereum mainnetHe also concluded that there was only a maximum 25x performance difference between Ethereum and Solana, demonstrating that in general “nobody is getting that great performance” from linear token transactions on-chain.

Čítaj viac
Customer demand prompts Charles Schwab file for Crypto Economy ETF

Customer demand prompts Charles Schwab file for Crypto Economy ETF

Uverejnil používateľ | mar 3, 2022 |

Multinational financial services giant Charles Schwab has responded to client demand to invest in cryptocurrency by filing with the Securities and Exchange Commission (SEC) to launch a Crypto Economy ETF.This filing comes just a week after the head of investor services at Schwab, Jonathan Craig, told news source Financial Advisor IQ that one in six Schwab clients had expressed interest in making crypto investments. He said:“A full 16% of Schwab’s clients plan to put money into cryptocurrencies in the first half of the year.”The proposed Exchange-Traded Fund (ETF) aims to track the returns of an index designed to “deliver global exposure to companies that may benefit from the development or utilization of cryptocurrencies and other digital assets.”$7.5 Trillion Asset Manager Charles Schwab Files for Crypto Economy ETF https://t.co/0cE6K3MvPB #CryptoCurrency (from Reddit) pic.twitter.com/XgCIdjHR2o— Jason Fernandes (@TokenJay) March 2, 2022According to the official filing, the ETF would use the Schwab Crypto Economy Index as a benchmark index and invest “at least 80% of its net assets” into the stocks listed on the Schwab Crypto Economy Index from companies that utilize Bitcoin (BTC) “and other digital assets.”An ETF allows investors to speculate on the price of a basket of assets without needing to custody or own them in any way. Schwab’s Crypto Economy ETF would not directly invest in crypto nor initial coin offerings (ICO), according to the filing. It would, however, invest in companies that deal with crypto:“The fund may have indirect exposure to cryptocurrencies by virtue of its investments in companies that use one or more digital assets as part of their business activities or that hold digital assets as proprietary investments.”Related: Grayscale launches campaign to encourage public comments on Bitcoin ETF applicationSchwab joins competitor financial institution Blackrock by filing for a crypto ETF. Blackrock, the world’s largest asset management firm with $10 trillion in assets under management (AUM) made its filing on Jan. 22. Its iShares Blockchain and Tech ETF would also invest in the stocks of companies that utilize blockchain and crypto on the New York Stock Exchange’s Factset Global Blockchain Technologies Index.There are currently eight crypto or blockchain related ETFs available for American investors from Bitwise, Global X, Siren, Amplify, two from First Trust, VanEck, and Capital Link. These funds manage a collective $1.7 billion in total assets.

Čítaj viac
Experts reject concerns Russia will use crypto to bypass sanctions: 'Totally unfounded'

Experts reject concerns Russia will use crypto to bypass sanctions: 'Totally unfounded'

Uverejnil používateľ | mar 2, 2022 |

Experts on crypto policy argue that concerns expressed by high profile politicians about Russia evading economic sanctions using cryptocurrency are “totally unfounded.”They say the crypto market is not nearly large enough nor deep enough to support the volume that Russia needs and that the country’s digital asset infrastructure is minimal. Former U.S. Secretary of State Hillary Clinton and the current President of the European Central Bank Christine Lagarde are among the high profile figures concerned that cryptocurrency could provide the means for Russia to bypass severe financial sanctions imposed for its invasion of Ukraine. The country has been mostly cut off from the SWIFT cross border transaction system and businesses in America and other western countries are prohibited from doing business or transacting with Russian banks and the national wealth fund.The Head of Policy at crypto policy promoter the Blockchain Association in the U.S. Jake Chervinsky posted a lengthy Twitter thread on Mar. 2 explaining how “Russia can’t and won’t use crypto to evade sanctions.”1/ Russia can’t & won’t use crypto to evade sanctions.Concerns about crypto’s use for sanctions evasion are totally unfounded. They fundamentally misunderstand:- how sanctions work- how crypto markets work- how Putin is actually trying to mitigate sanctionsI’ll explain — Jake Chervinsky (@jchervinsky) March 1, 2022Chervinsky stated three reasons it is unlikely that Russia will use crypto to skirt U.S. sanctions. The first is that the sanctions are not limited to USD, and it is now illegal for any US business or citizen to transact at all with Russia. He said, “It doesn’t matter if they use dollars, gold, sea shells, or Bitcoin.”The second reason is that financial necessities of a nation like Russia far exceed the current capabilities of crypto markets which Chervinsky called “too small, costly, & transparent to be useful for the Russian economy.” In other words even if Russia could access enough liquidity it still couldn’t hide its transactions in such a market. Finally the country has spent years trying to “sanctions proof” itself but has failed to build any meaningful crypto infrastructure or even finalize crypto regulations. Chervinsky says that crypto simply does not appear to be part of Russia’s plans to mitigate the effects of sanctions. “The reality is Putin’s spent years trying to sanctions-proof Russia & crypto isn’t part of his plan. His strategy included diversifying Russia’s reserves into yuan & gold (not crypto), shifting trade to Asia (not onto blockchains), bringing manufacturing onshore, etc.”However, the head of fraud investigations at blockchain research platform Coinfirm, Roman Bieda, told Al Jazeera on Mar. 1 that it was possible in general to use crypto to “evade sanctions and hide wealth” as has been done by North Korea, Venezuela, and Iran. But other experts told the outlet that said Russia’s case is different because of the scale of sanctions, its sluggish rate of crypto adoption and lack of depth in markets.Ari Redbord, Head of Legal and Government Affairs at crypto crime investigator TRM Labs said the transparency of blockchain was a natural deterrent to sanction evasion in this case. “Russia cannot use crypto to replace the hundreds of billions of dollars that could be potentially blocked or frozen.”Cointelegraph reported on Feb. 25 that ECB President Lagarde was eager to get the Markets in Crypto Assets (MiCA) bill passed by the European Parliament as soon as possible in order to give European authorities the means so that “crypto assets can actually be caught.” Lagarde is pushing to pass the policies urgently in order to prevent Putin from potentially being able to evade sanctions with crypto.In an interview with Rachel Maddow on MSNBC this week Hilary Clinton urged U.S. President Joe Biden to bar Russia from crypto trading. She and Maddow discussed the national security threats that could exist in regards to cryptocurrency and Clinton said, “The Treasury Department and Europeans should look hard at how they can prevent crypto markets from giving an escape hatch to Russia.” “I was disappointed to see some of the crypto exchanges, not all of them, but some of them are refusing to end transactions with Russia from some philosophy of Libertarianism.”Related: European Parliament postpones crypto bill vote over proof-of-workDemocrat Senator Elizabeth Warren also took the opportunity on Mar. 1 to state that American financial regulators should scrutinize digital assets because they risk “allowing Putin and his cronies to evade economic pain.”

Čítaj viac
Nifty News: One NFT per human in existence and the Pixelmon controversy

Nifty News: One NFT per human in existence and the Pixelmon controversy

Uverejnil používateľ | mar 1, 2022 |

Dutch artist Dadara and digital rights management platform RAIRtech have developed a collection of 7.9 billion identical nonfungible tokens (NFTs).The collection, named CryptoGreymen, is on the Polygon (MATIC) Ethereum scaling network. Although each NFT is identical, they will be assigned a serial number of up to 7.9 billion to reflect the number of humans currently estimated to be living on the Earth.The collection is designed to be a social experiment that Dadara hopes “can rattle the cage of consensual reality and elevate conversation.” He said in an official announcement that the social experiment is simple,“No one specific NFT is better than another, and because the minting price is widely accessible it will be interesting to see what value each individual CryptoGreyman holder brings.”In addition to acting as a social experiment, 2,222 CryptoGreymen will be locked in a treasury to be used as educational devices by non-profit Movement on the Ground for refugees who need to learn how to set up a crypto wallet. Movement on the Ground seeks to dignify the acceptance of refugees around the world.Each item is a pixelated copy of the Greyman which Dadara created in the 1990s.Dadara’s ‘Greyman’ characterPixelmon stirs up controversyEarly minters of the Pixelmon NFT collection got hit with a collective case of buyer’s remorse when the project revealed the finalized art for the project over the weekend. Each NFT was minted for three Ether (ETH) worth about $2,900 today, but the floor price of the collection on the OpenSea NFT marketplace is currently 0.36 ETH ($1,051) at the time of writing. In total, the project raised about $70 million.After the launch, there were immediate cries that the project had pulled the rug on investors due to the subpar artistic quality of the pieces in the collection. So @Pixelmon raised over $70m at 3 ETH per mint just for them to reveal like this. I think it’s fair to say all the buyers were rugged. Stop supporting cash grab NFT projects. pic.twitter.com/8VShQxNlgl— zachxbt (@zachxbt) February 26, 2022The roadmap revealed ahead of time displayed sharp, crisp art for each character in the collection which will become a game. Investors may have expected their NFTs to contain similar artistic qualities. However, the actual art for the NFTs varied greatly in style. They are heavily pixelated versions of the characters depicted in the roadmap, with the Kevin character being so bad that it has become a meme in the NFT community.so let me get this straight:pixelmon pulled off one of the most insane heists ever, is currently selling for 0.4, and you mfs are buying “Kevin” which was named by the community for over 3+ ETH as a fuckin memeAND THEN someone makes a Kevin mferwhat the fuck is happening pic.twitter.com/bS7IVFDNOe— ashrobin.eth (@ashrobinqt) March 1, 2022

NFTs of future art on saleSuperWorld Artist Gabrel Dean Roberts has put 120 original works of art on sale as an NFT collection. However, the catch is that the art has not yet been created.$150 million Omega collection includes Roberts’s future work over the next decade, a custom-designed Rolls Royce Ghost which Roberts designed, one million trees planted, and $1 million to Doctors Without Borders. The collection is being sold on the SuperWorld Metaverse and NFT marketplace. Roberts said in the official Feb. 28 announcement that the collection has been designed to be “the highest value NFT ever sold or resold.”“At 50,000 Ethereum, Omega will disrupt the art world and change the way people see smart contracts as a tool.”Gemie raises $3.8M for entertainment MetaverseCelebrity Metaverse platform Gemie has raised $3.8 million to fund partnerships and fill its NFT marketplace with more collections.The round was led by Newman Capital, Soul Capital, Kenetic, Sparks Digital Capital, and others. Gemie is expected to announce its first celebrity to onboard to the project in Q2 2022.CEO of Gemie John Fund said in an official statement on Feb. 28 that he hopes to bring the Asia entertainment industry into the Web3 world by embracing a “new virtual way of fan engagement.”Other Nifty NewsThe South Korean government unveiled a new initiative on Feb. 27 to sponsor the construction and growth of a national Metaverse. The Ministry of ICT, Science, and Future Planning pledged $186.7 million for the expansion of technological, creative, industrial, and commercial efforts on the Metaverse to help stimulate global economic growth.Japanese e-commerce giant Rakuten will launch its own NFT marketplace called Rakuten NFT. The marketplace will host a platform where property owners can create their own websites made for issuing and selling their property as NFTs.

Čítaj viac
South African exchange raises $50M in Africa’s largest funding round

South African exchange raises $50M in Africa’s largest funding round

Uverejnil používateľ | mar 1, 2022 |

South African crypto exchange VALR has raised $50 million in a Series B equity funding round, marking the largest-ever funding for an African crypto exchange.With this latest round of funding, VALR’s valuation has increased to $240 million, a 10X in growth since it raised its $3.4 million in a Series A round in July 2020. This round was led by VC Pantera Capital, Alameda Research, Coinbase Ventures, and several others. VALR claims to have processed over $7.5 billion in trading volume since 2019 from over 250,000 retail customers and 500 global institutional users. It currently has about 420 BTC ($18 million) in trading volume from 69 trading pairs according to CoinMarketCap.Funds from this round will be used to expand VALR’s operations into other emerging African markets and India, introduce more products for its users, and hire more talent. VALR CEO and co-founder Farzam Ehsani said in a Mar. 1 official statement shared with Cointelegraph that “Society’s financial tools should unite us, not divide us.” He added:“VALR is helping to build a financial system that recognizes the oneness of the human race. There is no longer any room for doubt regarding the impact crypto assets are having on our global financial system.” Ehsani also expects to inflate the number of institutional customers such as banks and insurance providers that use VALR’s platform to provide the crypto infrastructure they may need in the future. Ehsani said:“Crypto assets will become more and more pivotal to all our lives. VALR is here to help bridge our customers from the old financial system to the new.”Related: Crypto firms ignore Africa at their peril as continent set for major adoptionDespite a turbulent crypto market through 2022 so far, investments in crypto projects have not slowed down. On Feb. 27, the South Korean government announced a $187 million pledge to build a national Metaverse, and The Graph (GRT) opened a $205 million fund on Feb. 17 designed to attract developers to its platform.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy