Autor Cointelegraph By Prashant Jha

RSS3 aims to be the decentralized information processor of Web3

RSS3 aims to be the decentralized information processor of Web3

Uverejnil používateľ | feb 7, 2022 |

Really Simple Syndication (RSS), the first information distribution protocol that saw massive adoption across the internet is all set to take on Web3 with a decentralized information processing protocol called RSS3.In a technical whitepaper released on Monday, RSS3 laid out plans for taking its popular internet feed update to Web3. RSS3 would offer every entity an RSS3 file that will act as source data and be updated continuously. The source data file then can be used as an aggregation of all the cyber activities, which can then be used to build out social media, content networks, games and other data-driven applications. The source data would have control on which information to broadcast and which to keep private.RSS is a feed file containing a summary of a website’s updates, usually in a list of articles with hyperlinks. These feed files were meant to be decentralized and played a key role in exchanging information across the internet. However, the monopoly of centralized web hosting services providers has led to the creation of the decentralized RSS3.Related: Decentralized technology will end the Web3 privacy conundrumThe official paper noted that building a decentralized information processing protocol from scratch was quite a complex task and might take another six to eight months for building RSS3 nodes. The developers are in the process of building a DAO system as well, but believe a true decentralization would take time.The development team has partnered with Ethereum, Arweave, Polygon, BSC, Arbitrum, Avalanche, Flow, and xDAI to roll out the protocol across various decentralized networks.The team behind the decentralized protocol has closed two funding rounds until now that saw participation from the likes of Coinbase Ventures, Dapper Labs, Dragonfly Capital, Fabric Ventures, and several others.

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Majority of US consumers say no to Meta owning metaverse data: Survey

Majority of US consumers say no to Meta owning metaverse data: Survey

Uverejnil používateľ | feb 4, 2022 |

A survey of 1,000 United States consumers around growing interest in the metaverse has revealed some interesting results. In a survey commissioned by nonfungible token and metaverse infrastructure provider Advokate Group, 87% of respondents preferred a decentralized metaverse on a blockchain over some of the mega projects planned by tech giants. This became more evident when 77% of the respondents shared concerns over Facebook’s entry into the metaverse, especially since it owns users’ metaverse data.Facebook’s tainted past with mismanagement of private user data has already dismantled its early plans of launching a stablecoin called Diem. The stablecoin project faced heavy scrutiny from the U.S. Congress, and the project eventually came to a crashing end. A similar concern has started to grow around Facebook’s multi-billion-dollar metaverse aspirations.The surveyed respondents were divided in terms of when metaverse could become mainstream, 20% of respondents believe it could take 1–2 years while 49% said it could take up to 3–6 years. Gaming was the primary choice of spending time in metaverse followed by socializing. 55% of the respondents said they would spend more than three hours a day in the metaverse.Related: Tusk Ventures CEO: Don’t repeat social media mistakes with Metaverse regulationsA majority of the respondents also showed a keen interest in making money while playing games. With play-to-earn models being the latest rage, 93% of the respondents said they would spend more time playing games if it could make for the minimum wage. Some 64% said they would spend more than three hours if they made real money and 87% would switch to full-time gaming if the pay was good.Metaverse as a concept only became formidable in 2021 and now every major tech giant be it Apple, Facebook or Google is looking to launch or invest in the ecosystem. However, a significant chunk of crypto proponents is advocating against the entry of centralized cash-rich firms, as they believe the concept of decentralization would take a back seat.

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Social platform behind ‘retail short squeeze’ launches crypto trading

Social platform behind ‘retail short squeeze’ launches crypto trading

Uverejnil používateľ | feb 4, 2022 |

Investor-focused social media platform Stocktwits, which gained popularity during last year’s ‘retail short squeeze’ frenzy involving GameStop and AMCTheaters, rolled out its own crypto trading services on Thursday.Stocktwits has partnered with FTX.US to carry out its crypto trading services and is set to launch US equity trading next quarter. The firm further looks to expand its trading services portfolio by offering crypto derivatives trading and other asset classes in the coming months. Big day here at Stocktwits We’re excited to share the launch of our fully integrated crypto trading, powered by @FTX_US, right in our iOS app!Update your iOS app and combine the power of our Community with a best-in-class crypto platform.https://t.co/V0oAyIpaWX— Stocktwits (@Stocktwits) February 3, 2022Stocktwits boasts of 6 million registered users and sees 5 million active users monthly. The new crypto trading option would allow users to trade directly from their profile and allow them to showcase their portfolio as well.The social network platform played a key role along with the subreddit r/wallstreetbets to short squeeze meme stocks in February 2021, leading to billions of dollars in losses for hedge funds who bought millions of short positions against these stocks. The crypto community offered great support during the retail saga and asked several companies associated with it to integrate crypto as a protest against centralized bullying.Related: New decentralized crypto exchange is inspired by r/WallstreetbetsThe social platform until now was primarily focused on discussions between investors and traders along with other data tools. The CEO of the platform Rishi Khanna acknowledged the growing prominence of crypto discussion on the network and said that the “community and data have served as a strong on-ramp into the platform.”The launch of the live crypto trading feature would help Stocktwits join the growing list of companies from the short squeeze saga that have integrated crypto-related services. AMC integrated crypto payments for its online booking services while GameStop is entering NFTs and also plans to build new crypto partnerships.

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NFT battles: Nike takes seller of unlicensed NFT sneakers to the court

NFT battles: Nike takes seller of unlicensed NFT sneakers to the court

Uverejnil používateľ | feb 4, 2022 |

Popular sneaker maker Nike has started the “licensed NFT” wars by taking an online reseller called StockX to court for trademark infringement or sale of unlicensed nonfungible token (NFT) sneakers.According to a Reuters report, Nike has filed a lawsuit against the reseller in the New York Federal court demanding an undisclosed amount in damages and a halt of sales on such virtual collectibles. StockX reportedly started selling Nike sneaker NFTs in January and promised buyers they can redeem the real-world version of the sneakers in the near future.Nike in its 50-page complaint claimed StockX has sold nearly 500 NFT sneakers with the Nike branding which has dented their reputation and legitimacy. The shoemaker brand also alleged the NFT sneakers were being sold at inflated prices with very “murky terms of purchase and ownership.” StockX is a popular online reseller estimated to be worth $3.8 billion and the NFT sneakers because of which it is facing the lawsuit is still online. The collection is called ‘The Vault’ comprising of 9 premium Nike sneakers and deals with NFTs tied to their real-world asset.Related: From art to gaming: The biggest NFT trends of 2021Nike claimed NFTs are a way for brands to interact with their customers, but some of the players in the market are trying to “usurp the goodwill of some of the most famous trademarks in the world and use those trademarks without authorization to market their virtual products and generate ill-gotten profits.” The shoe-maker is set to launch its own NFTs collection later this month in association with recently acquired art studio RTFKT.NFTs popularity has made it a primary PR and marketing tool for brands and celebrities. However, as with any popular use case in the decentralized world, NFTs have reached a point of exploitation. Apart from Nike, there have been several other lawsuits around NFTs involving big brands and celebrities. Pulp Fiction’s film production company Miramax sued the director of the film Quentin Tarantino for selling NFTs of the movie, calling it copyright infringement.

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Crypto donations jumped nearly 16x in 2021, new report says

Crypto donations jumped nearly 16x in 2021, new report says

Uverejnil používateľ | feb 3, 2022 |

2021 was not just the year of institutionalization of crypto and new all-time highs; it also turned out to be the biggest year for crypto philanthropy.According to research data from The Giving platform, crypto donation volume rose to $69.6 million in 2021 compared to $4.2 million in 2020. Crypto donation volume spiked 1,558% or nearly 16x over the same period. The average crypto donations also saw a 236% increase, rising from an average of $3,109 in 2020 to $10,445 in 2021.The data further revealed that the average crypto donation size was 82x larger than an average cash donation. The average donation in crypto was estimated at $10,455 compared to $128 in cash.The monthly donation data revealed several interesting aspects about crypto donors. The report highlighted that the crypto donations were highest in the final four months of 2021. The donations volume also peaked with each month, where January saw a total volume of $300,000, while December’s total donation volume surpassed $20,000,000. 42% of the total crypto donations in 2021 came in the last two months.Crypto donation percentage in each month of 2021 Source: The Giving BlockThe research attributed this increase to the bull market and the growing adoption of digital assets among the common public as well as nonprofit organizations. The research report revealed more than 1,000 nonprofit organizations were accepting crypto donations by the end of 2021.Related: Progressive group adopts Bitcoin as ING and PayPal block donationsThe crypto donation volume rose each quarter in 2021, where the first quarter saw a total volume of $1.69 million and that value grew to $43.1 million in the fourth quarter. A total of 70 cryptocurrencies were used for donations, with Ether being the top donation choice followed by Bitcoin (BTC) and USDC stablecoin. 85% of all crypto donations in 2021 were made in BTC, Ether (ETH) and USDC.top cryptocurrency donation volume Source: The Giving BlockThe crypto donation data is a reflection of the growing popularity of digital currency use among activists, politicians, and even shadow governments. 2021 saw Bitcoin at the Hong Kong protest. Myanmar’s shadow government fighting against the current military regime has also declared Tether’s USDT as their official currency of use locally. Blockchain makes crypto assets borderless, which in turn has made it a top choice for donations.

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