Autor Cointelegraph By Zhiyuan Sun

LeBron James and Crypto.com team up for blockchain education initiative

LeBron James and Crypto.com team up for blockchain education initiative

Uverejnil používateľ | jan 28, 2022 |

In a press release published Friday, three-time NBA champion and Los Angeles Lakers forward LeBron James will partner with digital currency exchange Crypto.com to support educational and workforce development opportunities focused on Web 3.0. Specifically, as told by local news outlet Akron Beacon Journal, the partnership will help 1,600 kids in LeBron James’ hometown of Akron, Ohio about the technology behind cryptocurrencies and how it will benefit their career paths in the future.”Blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another. I want to ensure that communities like the one I come from are not left behind,” said James. Students will be careers available in the space in both virtual and in-person sessions with experts from Crypto.com. Kris Marszalek, Co-Founder and CEO of Crypto.com, gave the following remarks:We couldn’t be more proud to join LJFF [LeBron James Family Foundation] in providing opportunities to increase educational and workforce development while delivering the tools and access that will empower the next generation to build a better and more inclusive future.Crypto.com is currently the 5th largest exchange, with a 24 hours trading volume of $3 billion. It has over 10 million customers. However, not all users were fans of the development. Some claimed that the company should have devoted more attention to improving the customer experience than allocating funds to such partnerships.You keep spending all this money with your partnerships, but still your customer support is the worst. Some still don’t have refunds from when you were hacked.— David Blyth (@DavidBlythBEM) January 28, 2022

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Cardano network at record capacity due to SundaeSwap launch, but not all users hail it as a success

Cardano network at record capacity due to SundaeSwap launch, but not all users hail it as a success

Uverejnil používateľ | jan 27, 2022 |

According to both Cardano Blockchain Insight and pool.pm, the Cardano (ADA) network has maintained record capacity for nearly two weeks due to the launch of decentralized exchange, or DEX, SundaeSwap, the first of its kind to go live on Cardano. At the same time, the total value locked for the ADA blockchain reached a record of approximately $80 million, despite the recent fall in the token’s price from the ongoing down market.The current average blockchain load of the network hovers at 93.19%, which means that 93.19% of its blocks are being filled. In context, the metric amounted to only 32.49% on New Year’s Eve. The number of ADA wallets is also on the verge of breaking the 3 million mark. Many ADA enthusiasts took to social media to celebrate the milestones. However, the phenomenon of the network nearing full capacity due to the addition of just one DEX raised questions about its utility, although scaling solutions are coming soon. Reddit user Additional_Till_838 pointed out:”I dislike this because it paints a picture of Cardano’s blockchain being overloaded and struggling to handle the load. This could scare investors away from Cardano and make them think that it is not a reliable blockchain network.”Not all went smooth during SundaeSwap’s launch either. Soon, user reports of failing transactions began circulating widely on social media. At the time of publication, users are still alleging that their DEX orders remain unprocessed, despite submitting them a few days ago. More critically, the platform is locked in a publicized commercial dispute regarding allegations of failed investor promises with Cardano accelerator program CardStarter. Even Charles Hoskinson joined in on the debacle, telling the two parties to “get your shit together!” and settle their differences via arbitration or litigation. We have just released an update to our orders page, you should now be able to see the approximate queue depth of a pool! Simply click to expand an order for more info.This update should provide additional info on the current state of congestion. ⌛️ 1/2— SundaeSwap Labs (@SundaeSwap) January 26, 2022

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Vitalik Buterin suggests making NFTs 'soulbound' like World of Warcraft items

Vitalik Buterin suggests making NFTs 'soulbound' like World of Warcraft items

Uverejnil používateľ | jan 27, 2022 |

In a blog post published Wednesday, Vitalik Buterin, co-founder of Ethereum (ETH), expressed his wishes to make nonfungible tokens, or NFTs, soulbound as with the namesake item class in popular MMORPG World of Warcraft, or WoW. In outlining his reasons, Buterin explained that if someone shows they own an NFT that is obtainable by doing X, such as attending an auction, it is not possible to tell if the person actually obtained it from the auction themselves in attendance or simply bought the NFT via the secondary market.An example of a soulbound item in WoW | Source: Blizzard WatchThe soulbound feature in WoW prevents an item from being traded, mailed, or sold at the in-game Auction House to other players. It was designed by developers to prevent “twinking” or passing down gear from high-level to low-level characters to dramatically speed up the grinding process of fighting monsters to gain experience. However, they also serve the purpose of demonstrating achievement; that is, the character earned the item by defeating challenging bosses and not via an heirloom. The latter property seems to be of interest to Buterin, as the Ethereum co-founder raised the point that on-chain proposals to store driver’s licenses, university degrees, etc., would face problems if someone who doesn’t meet the necessary conditions can readily purchase them.Buterin also spoke highly of the “proof of attendance protocol” project POAP, which stores digital mementos of one’s life on-chain, and issues a unique badge supported by a cryptographic record. The team behind the project encourages developers who care about transferability to check “on-chain if the current owner is the same address as the original owner.” But like soulbound items in WoW, taking away the transferability of NFTs would also presumably take away their commercial viability.

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Anchor protocol's reserves head toward depletion due to lack of borrowing demand

Anchor protocol's reserves head toward depletion due to lack of borrowing demand

Uverejnil používateľ | jan 27, 2022 |

Anchor, the flagship savings protocol of the Terra Luna (LUNA) ecosystem, has seen its reserves decline by 35.7% in the past seven days, according to Terra.Engineer. Since the beginning of December, the amount of Terra USD Stablecoin (UST) held in the “terra1tmnqgvg567ypvsvk6rwsga3srp7e3lg6u0elp8” smart contract has declined by over 50%, with only $35.7 million remaining.As a savings protocol, users deposit their UST assets via their wallets and earn up to 20% yields as their principal is lent out to borrowers, who pay interest on the loan amount. Borrowers must deposit collateral to ensure the lender can get their money back in the event of a default. In addition, Anchor stakes the collateral it receives to generate rewards for depositors.Whenever there is a deficiency between the income generated through borrowers’ interest, collateral staking and the yield expenses paid out to depositors, Anchor must tap into the aforementioned TerraUSD (UST) reserves to make up for the difference. Last July, its creator Terraform Labs injected 70 million UST into the reserve protocol and its value was relatively stable. But in the past 60 days, the total deposit amount has increased from $2.3 billion to $6.1 billion, while the total borrowed amount only increased from $1.2 billion to $1.5 billion.In bear markets, investors typically flock out of volatile assets in search of stable ones, such as high-yield savings protocols. However, the growing discrepancy between Anchor’s deposits and borrowings has placed severe pressure on its reserves. If the trend were to continue, the reserve would run out in the coming months, and Terraform Labs would need to inject another round of UST for liquidity or sharply lower Anchor’s promised interest rate.My thoughts on @anchor_protocol and the yield reserve depleting 1/ Just 2 months ago, the yield reserve was actually increasing every day and the issues of today were not even a consideration. As the adoption of $UST really started to rise and the deposits (lending) into pic.twitter.com/fTH4WecPr9— Yield Labs (@YieldLabs) January 27, 2022

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Axie Infinity devs release governance token for Ronin Blockchain to mixed player response

Axie Infinity devs release governance token for Ronin Blockchain to mixed player response

Uverejnil používateľ | jan 27, 2022 |

On Thursday, Sky Mavis, the creator of the monster-battle game, Axie Infinity, released its much-anticipated RON governance token. The token is based on its Ethereum (ETH) sidechain Ronin Network. Its purpose includes paying for transactions on Ronin, staking and participating in community proposals.According to its developers, Ronin has over 250,000 unique daily active addresses. When ranked by the number of weekly active users, Katana, Ronin’s decentralized exchange (DEX), is the No. 2 largest DEX. In addition, the blockchain surpassed $5 billion in deposited value, with 15% of all nonfungible token (NFT) transactions occurring on the network in 2021. In total, there have been over 2 million Ronin wallet downloads. It is also claimed to be environmentally friendly, with one Bitcoin allegedly using an equivalent amount of energy to close to 700 million Ronin transactions.But hopes for a smooth launch were offset by complaints from a number of Axie Infinity players.  In Axie Infinity, users are rewarded with an asset called Smooth Love Potion (SLP) for completing tasks. Top users can earn about 1,400 SLPs per day playing Axie Infinity, or 680 SLPs if they join a guild. As a result of the crypto bear market, SLP has dropped from $0.36 in May down to $0.01 in recent weeks. Many players took to Twitter to voice their frustration at Axie Infinity turning their focus into developing RON instead of doing more to prop up the value of SLP.So hype for your new coin? But non of the devs care about the status of slp lol. Always saying about the Very long journey? So slp will remain downtrend until your pocket is full of your investors money? @AxieLima— irfanCrkes (@irfan77575082) January 27, 2022Nevertheless, players may get some respite as 70 million out of an initial circulating supply of 185 million will be given to various community members (including players) for their contributions. At the time of publication, each RON is currently worth 3.30 Tether (USDT) on OKX.$RON trading is live on @okx!https://t.co/RjpzTHBbHp— Axie Infinity (@AxieInfinity) January 27, 2022

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