Autor Cointelegraph By Ezra Reguerra

DeFi to reach mass adoption via institutional participation, DEX founder says

DeFi to reach mass adoption via institutional participation, DEX founder says

Uverejnil používateľ | mar 17, 2022 |

While decentralized finance (DeFi) token prices may be going down, new forms of utility like liquid staking are on the rise and some believe that more people may be drawn to DeFi as more institutions jump into the fray.According to Eric Chen, CEO and co-founder of Injective Labs, while the DeFi sector has witnessed massive growth since 2020, there are still issues to solve such as gas fees, scalability and liquidity. Chen said that the entire DeFi industry is focused on building infrastructures to address these problems.“It still has a lot of problems to solve before being able to serve billions of users. Scalability, miner extractable value and gas costs will become more and more important to improve over time.”The DEX founder also believes that the sector’s growth can be attributed to the development of new primitives and user growth. Moreover, Chen also told Cointelegraph that adoption may be driven by the participation of traditional finance entities. “With many traditional institutions joining the space, DeFi will gradually reach mass adoption,” said Chen. Permissioned DeFi, a form of DeFi that combines decentralization with centralized mechanisms like whitelisting for KYC and AML purposes, may give institutions a push to adopt DeFi. Chen explained that: “Permissioned DeFi certainly allows traditional institutions to be much more comfortable in participating in the ecosystem. It will play an important role in fostering global mainstream adoption.”Earlier in 2022, liquidity protocol Aave launched a permissioned DeFi pool. The pool allows institutions to access decentralized finance features while being compliant with existing regulations. Eric Chen, CEO and co-founder of Injective Labs. Source: Injective LabsRelated: Gas-free transactions will revolutionize Web3When asked about DeFi regulation, Chen mentioned that DeFi is easier to regulate than legacy infrastructures. The DEX founder emphasized that the mission of DeFi is to “provide decentralized, secure, and transparent financial services.” Because of this, Chen believes that proper research will give regulators an easy way to regulate DeFi. “With proper research and understanding, regulators will find a much easier time regulating DeFi and preventing malicious behaviors compared to the legacy financial infrastructure.”

Čítaj viac
Blockchain gamers see playing NFT games as a potential full-time job, says new survey

Blockchain gamers see playing NFT games as a potential full-time job, says new survey

Uverejnil používateľ | mar 17, 2022 |

Despite the fall of nonfungible token (NFT) prices, play-to-earn NFT gaming carries on as more people see it as a potential way to make a living. In a survey conducted in the Philippines, 32 percent of the respondents said they would quit or consider quitting if NFT games allowed them to go full-time. John Stefanidis, the CEO of NFT gaming platform Balthazar, said that he’s “not surprised by the findings.” “Many are ready to quit their other jobs to play NFT games instead, as they could potentially be earning the same, if not more from playing NFT games.” Jesus Dawal Jr., a Filipino gamer, told Cointelegraph that at the moment, the earnings in NFT games are not enough. “There is no doubt that blockchain gaming is a revolutionary concept, but at the moment, I don’t think it will be enough to support me financially by itself,” said Dawal. However, he also notes that he’s ready to jump in when the ecosystem develops more.“I think I will have enough courage to leave my job to pursue blockchain gaming once the P2E ecosystem has become mature and sustainable.”Blockchain gaming organization YGG Pilipinas’ country manager Luis Buenaventura also thinks that there’s definitely a trend of people quitting to go full time. When asked about the topic, he told Cointelegraph that “for better or for worse, the trend of people quitting their jobs for P2E is definitely picking up.”However, the blockchain gaming executive notes that it’s not just blockchain gaming that is picking up but also crypto opportunities. “It’s equally likely that people are finding alternative income opportunities in crypto in general, and not just P2E specifically,” he said.“Earning from games and earning from yield farming are not mutually exclusive activities, and we see many of our most successful members doing both.”Related: Yield Guild Games hits 20K Axie Infinity P2E scholarship milestoneBack in 2021, a report from the Blockchain Gaming Alliance (BGA) showed that NFT gaming generated over $2 billion in revenue in the 3rd quarter of 2021. This accounts for 22% of NFT trading volume according to the BGA.Apart from generating revenue, the blockchain gaming community has also shown a philanthropic side. Last year, when a super typhoon hit the Philippines and affected 4 million individuals, blockchain gamers led by YGG organized a donation drive that raised more than $1.4 million to help the victims.

Čítaj viac
What happens to your Bitcoin when you die? A new service saves it for family and friends

What happens to your Bitcoin when you die? A new service saves it for family and friends

Uverejnil používateľ | mar 16, 2022 |

When Bitcoin (BTC) traders pass away, their BTC may forever be lost within the blockchain if they haven’t given anyone else access to their wallets. However, an exchange project wants to give crypto traders another option. Back in 2020, a study showed that many crypto investors worry about what happens to their digital assets when they pass away. 89% of respondents expressed concerns on whether their assets would be given to family or friends after their demise. In an interview with Cointelegraph, Jeetu Kataria, the CEO of Digital Financial Exchange (DIFX), highlighted the importance of a way to pass crypto to loved ones in case of death. According to Kataria, their project created a blockchain-based nomination program that allows users to choose “trusted individuals, family and friends to be beneficiaries of their crypto wallets” in case the wallet owner dies.“Crypto is here to stay and having this feature is necessary for securing the digital future. If you are an avid crypto trader like me, I am sure that the thought of who will inherit your crypto has come to mind.” The exchange CEO also said that a blockchain-based system ensures that the legitimacy of beneficiaries is verified and not questioned. Compared to giving private keys and access credentials, Kataria believes that this is more efficient and secure.While the feature may be favored by many, traders who prefer decentralization may not be as excited. However, Kataria believes that centralization is the “key for mass adoption.” He also said that:“Centralization also puts a face and accountability for many of the projects in the crypto industry. This adds to the organization having consistency in its services and attracting more of the traditional financial markets.”Related: What happens to your Bitcoin when you die?DIFX revealed the feature along with a new corporate identity at the ongoing Crypto Expo Dubai. The program serves as a way for the exchange to attain its aim to be more consumer-centric. Kataria said that this is a way for their team to relieve clients of “pain points” and apprehensions.

Čítaj viac
Crypto.com rolls out its exchange platform in the United States

Crypto.com rolls out its exchange platform in the United States

Uverejnil používateľ | mar 15, 2022 |

Following its immense marketing efforts, Crypto.com finally begins the initial rollout of its services to users in the United States. In an announcement, Crypto.com mentioned that its exchange platform is already available to users who are waitlisted and will be available to more users soon. Currently, the trading platform can only be used by selected institutional investors. However, in the next few months, the exchange will be offering its services to more investors who want to trade using Crypto.com. The exchange is also inviting institutional investors based in the U.S. to join their waitlist and use the platform. Apart from the standard services of the exchange, Crypto.com also mentioned in the announcement that its VIP users will have access to various events, rewards and market insights. Additionally, they will also give these users access to exclusive forums. In the announcement, Kris Marszalek, the CEO of Crypto.com, expressed his excitement for the launch. “We are excited to be expanding our offering for professional traders to the U.S.,” he said. He also assured investors that they are working to make it available to more people very soon. “Crypto.com Exchange will support U.S. institutional investors through this initial launch phase. We are looking forward to rolling it out to everyone as soon as possible.” Related: Crypto.com gives users in excluded countries one week to repay loans Crypto.com has been actively pursuing efforts to expand its reach. Just last week, the exchange airdropped a nonfungible token (NFT) collection featuring NBA superstar LeBron James. The Moment of Truth collection was given to 5,550 viewers of the exchanges’ advertisement on the Super Bowl.Last year, Hollywood celebrity Matt Damon also advertised the exchange. The ad highlighting “fortune favors the brave” starring Damon appeared on billboards and television spots. However, it didn’t escape critics. In an episode of South Park, its characters made fun of Damon’s appearance in the ad.

Čítaj viac
Gaming industry to have a 'blockchain-connected' future, studio execs say

Gaming industry to have a 'blockchain-connected' future, studio execs say

Uverejnil používateľ | mar 15, 2022 |

With blockchain slowly finding its way into the video gaming industry, sector veterans and executives of nonfungible token (NFT) blockchain WAX believe that there will be more connections between games and blockchain networks in the future.In a Cointelegraph interview, WAX head of publishing David Kim and WAX Studios head of game studios Michael Rubinelli shared their insights on NFTs, the metaverse and blockchain gaming.According to Kim, despite having less search interest on Google, engagement with games, the metaverse and NFTs is not dead. “On the WAX blockchain, we saw a doubling of the number of sales transactions at the start of Q4 2021, and it has remained elevated ever since,” he said.“I’m not sure if the ‘hype’ will go back up, but we believe that long term, interest in and engagement with metaverses and NFTs will grow ad infinitum as utility increases and security concerns are allayed.”On the other hand, when asked about the future of play-to-earn (P2E) gaming models, Rubinelli compared P2E implementation to the adoption of free-to-play and microtransactions within gaming. Having more than 20 years in the gaming industry, the gaming executive thinks that a similar pattern is playing out.“We believe strongly that there will be some element of play-to-earn or play-and-earn in most games within the next few years. Most of these will be blockchain-connected but not fully running on blockchain.”In a 2021 report published by the blockchain gaming alliance, a survey showed that many respondents share the same sentiment as the WAX executives when asked how much the blockchain industry is likely to leverage blockchain in the next two years.Source: Blockchain Gaming Alliance 2021 Survey ReportTalking about the challenges that blockchain games face, Rubinelli mentioned that scalability is still a major concern. “Right now, the biggest challenge is the lack of ability for most blockchains to scale,” he said.Related: Report: Axie Infinity accounted for nearly two-thirds of blockchain-game NFT transactions in 2021The gaming veteran noted that Layer2 solutions could not scale unless they are “100% dedicated to a single game such as Ronin for Axie Infinity.” He also mentioned the incident that when the game Sunflower Farmers’ userbase grew, “it ground Polygon to a halt.”Regarding esports, David Kim mentioned that most games playable on WAX are “too simple to be adapted to esports.” However, the WAX executive noted that there are games in development that could be adapted into esports.“There are multiple blockchain-connected games currently in development with an eye towards esports. These include Hearthstone-like card battlers such as Skyweaver, battle royales such as Hodlgod, and team-based first-person shooters such as The Forge Arena.” Kim noted that esports games need more time to be developed. According to Kim, only 9 months passed since Alien Worlds, Splinterlands and Axie Infinity showed that blockchain gaming can attract a lot of players. “You can’t develop the kind of sophisticated game mechanics necessary for esports in that amount of time,” he added.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy