Značka: blockchain

YouTube head of gaming Ryan Wyatt to resign and join Polygon Studios as CEO

On Tuesday, Ryan Wyatt, head of gaming at YouTube, announced he would be leaving the video-sharing platform in February. Partly due to his leadership, YouTube Gaming sees over 250 million daily logged users per day with hundreds of billions of watch time each year. Wyatt cited his passion for blockchain and Web 3.0 development in explaining his resignation. H will soon join Polygon Studios as its CEO.Polygon Studios is the gaming and non-fungible tokens, or NFTs, arm of the namesake layer two Ethereum (ETH) scaling network (MATIC). Polygon plans to commit $100 million to projects led by its subsidiary studio, which debuted last July. The firm’s objectives are to develop decentralized gaming; attract blockchain enthusiasts to its NFT tokens ecosystem, and establish Polygon as a competent blockchain for the Web 3.0 transition. Regarding his new role, Wyatt said:”I will be focusing on growing the developer ecosystem through investment, marketing, and developer support and bridging the gap between Web 2.0 and 3.0. I’ll be leading the Polygon Studios organization across gaming, entertainment, fashion, news, sports, and more.”It is bittersweet news to share that I am leaving @YouTube.I have loved every minute of my time here, but it is time for my next endeavor.I am elated to announce that I will be joining @0xPolygon ($MATIC) as their CEO of Polygon Studios.Thank you for the memories! ❤️ pic.twitter.com/VhQxpqDbFO— Ryan Wyatt (fwiz.eth) (@Fwiz) January 25, 2022In his departure statement, Wyatt described fond memories of his first day at Google’s Mountain View, California headquarters in 2014. He also expressed his gratitude to CEO Susan Wojcicki and CBO Robert Kyncl for hiring him eight years back. Meanwhile, Polygon Studios gave Wyatt a warm welcome to his new role.Please welcome our new CEO to Polygon StudiosWelcome @Fwiz to the PS family! Ryan is the former Head of Gaming @YouTube and we are all looking forward to working with him https://t.co/NQgLqUBLPi— Polygon Studios (@_PolygonStudios) January 25, 2022

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Kanye West wants royalties from Paparazzi photos, with the help of NFTs

Kanye West expressed his frustration at the paparazzi after being filmed arriving at Miami International Airport on Monday, as seen in a video posted by ET Canada. Kanye can be heard saying to the cameraman:”It’s just really one-sided. You guys can follow us, you guys to stand from the hotel at any given time. You don’t give us any percentage of what you make off us, off our kids. And I’m going to change that.”Kanye in Miami | Source: ET CanadaThe cameraman argued that, “without candid photography, there wouldn’t be a [documented] history of celebrities.” However, it was clear that Kanye’s main interest involved the right to royalties from paparazzi photos, rather than issues with the perceived invasion of privacy. “You know, NFT [non-fungible tokens] people get paid in perpetuity on the product that they put out. So my image is a part of something that I should get paid for. We all got to make money together,” said Kanye.NFT platforms, such as OpenSea.io, allow creators to set royalties of up to 10%, receiving proceeds every time the work of art is sold via the platform. However, the feasibility of co-profit sharing on celebrity photos remains in question. For starters, major NFT platforms typically do not cross-enforce one another’s royalty structures, meaning that creators would not receive any funds if, for the sake of argument, their OpenSea NFT was sold on a different venue. In addition, the issue of copyright to the original work can only be resolved through off-chain negotiations.

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Cardano projects SundaeSwap and CardStarter squabble over failed promises to investors

The ongoing drama between two projects built on the Cardano (ADA) blockchain escalated across multiple social media platforms Monday, much to the dismay of the ADA community.The issues began in April when accelerator program CardStarter announced it would launch its own decentralized exchange or DEX. Shortly thereafter, its founders incentivized investors to provide liquidity for the project on Uniswap in exchange for native CSWAP tokens. The platform’s developers landed an agreement with a third-party DEX called SundaeSwap sometime later, marketing the deal as a “merger” last June. As per the agreement, CardStarter would no longer develop its promised DEX, and would instead provide liquidity to the existing SundaeSwap DEX.As told by Reddit user “Environmental-Law768”, investors were later promised “great benefits” during a YouTube ask-me-anything session for CSWAP holders in the SundaeSwap DEX. Last week, however, it was revealed that these so-called benefits would simply be a conversion from CSWAP to CardStarter’s native CARDS tokens ($3.14 at time of writing), at a rate of 400:1. Holders who had locked in $15M (at the time of reveal) worth of liquidity on the platform seemed to feel this was a slap in the face, amounting to no meaningful reward for their efforts. Allegations of a rug pull soon followed.Both SundaeSwap and CardStarter took to social media to place blame over the investor fallout on each other — much to the disapproval of ADA enthusiasts and Cardano founder Charles Hoskinson.In light of SundaeSwap’s announcement, we share the following documents which we feel speak for themselves.We will continue to fight for the CSWAP community. pic.twitter.com/6oM2rdcKYF— CardStarter (@CardStarter) January 24, 2022According to a SundaeSwap statement cited by Hoskinson, the June deal was purely a marketing and collaboration agreement. However, the SundaeSwap team acknowledged using misguided terms on multiple occasions when communicating with users. To make matters worse, the freshly launched SundaeSwap DEX has already suffered from numerous user reports of failed transactions. During a YouTube stream Monday afternoon, Cardano founder Hoskinson condemned the heated exchanges between the parties. Hoskinson elaborated it was unacceptable for the fiduciary organizations involved, SundaeSwap and CardStarter, to use Twitter, Reddit, Telegram, and other channels in social media to make their case. “It’s despicable. It doesn’t do anything other than try to abdicate your personal responsibility and damage the brand of the ecosystem as a whole,” said Hoskinson, continuing:Please, people, get your shit together. Both sides come together, agree to arbitration, talk to each other, and figure out whatever the hell you agree to get done. And if you can’t somehow survive the arbitration process, the courts are always available to you.

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Strategies for trading cryptocurrency during a correction, explained

A correction refers to a rapid price decrease, which traders can use to their advantage with the assistance of cryptocurrency trading bots. Although the definition for a correction differs, it is most often used to describe a rapid decrease in an asset’s price, usually at least 10% and up to 20%. If an asset falls more than that, the price dip is classified as a market crash. Corrections are often the result of a minor event, such as low trading volumes or other technical factors. They, therefore, occur fairly regularly, lasting a few days, weeks and, in some cases, months. The term correction is then used since the price will often return to its expected value. However, the alternative may also be true. A correction may lead to a larger decline, a bear market. As most know, the cryptocurrency market is defined by its volatility, making it normal for prices to move up and down fairly regularly. Looking at the 2021 year alone, the cryptocurrency market was subject to four market corrections and another market event. For this reason, analysts will also recommend market corrections as a great opportunity for investors to buy assets “on sale.” The main concern here is that it can be hard to determine when a correction might occur. For this reason, crypto trading bots can play a crucial role in helping traders determine when to buy and sell using signals and indicators and also just not to miss that moment while being away from the screen.

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Coin Bureau Youtube channel hacked despite 2FA protection

Coin Bureau, a popular information portal for cryptocurrency developments with over 600,000 followers on Twitter, experienced a security breach on its Youtube channel on Monday. Hackers allegedly uploaded a video with links to scam fiat/cryptocurrency addresses soliciting a token sale before being taken down by Youtube. According to Coin Bureau staff, they were baffled by the incident as its accounts were “secured with ultra-strong passwords and Google security keys.”So our YouTube channel was just hacked. Have absolutely no idea how this happened. All accounts are secured with ultra strong passwords and Google security keys. @YouTubeCreators this is a serious problem which other creators are also experiencing. Please fix— Coin Bureau (guy.eth) (@coinbureau) January 24, 2022This was by no means an isolated incident. Prominent crypto Youtubers such as Ivan on Tech and Real Vision Finance have had their accounts compromised within the past few days. It appears to have been a coordinated effort as hackers uploaded a video titled “One World Cryptocurrency,” that solicited the same type of token sales across all breached accounts. In addition, the accounts were all logged in from an IP address in the Philippines, although the VPNs were widespread, which makes it difficult to track exact login locations.Seems like it’s happening to other YouTubers at the same time. @Altcoinbuzzio @FloydMayweather Also possibly @IvanOnTech @aantonop (seen by my telegram members). pic.twitter.com/WvknuyL3Px— Boxmining (@boxmining) January 23, 2022It’s unclear how much the hackers took in as both creators and Youtube quickly took down the scam videos. However, there have been unconfirmed reports from Twitter users claiming losses. One user, @James86965119, allegedly transferred $1,000 worth of digital currencies to the fake addresses posted by the hacker. In addition, if the allegations from the Youtubers are proven, then it would raise questions regarding the effectiveness of Google’s two-factor authentication service. Theoretically, hackers would not be able to access one’s Youtube account unless they had both the password and security key.

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Uniswap founder's bank account shut down by JP Morgan Chase, shadow-debanking allegations surface

On Sunday, Hayden Adams, CEO and founder of popular decentralized exchange, or DEX, Uniswap (UNI), claimed that his JP Morgan Chase bank accounts were shut down with no explanation. In addition, Adams stated that the incident was personal in nature as he knew “many individuals and companies who have been similarly targeted simply for working in the crypto industry.” This week @jpmorgan @Chase closed my bank accounts with no notice or explanation‍ I know many individuals and companies who have been similarly targeted simply for working in the crypto industryThanks for making it a personal— hayden.eth (@haydenzadams) January 23, 2022Former Commodity Futures Trading Commissioner Brian Quintenz responded with a comment suggesting that the move was likely an instance of “shadow de-banking of crypto by the Federal Reserves and Office of the Comptroller of the Currency bank examiners.” Quintenz explained that banks are contractually prevented from telling customers the reason for ending the business relationship if they deem them too risky. Although most users commiserated with Adams on the alleged debanking, others maintained that there is no universal right to a bank account and, therefore, banks have the discretion to act as they deem fit.Likely a shadow de-banking of crypto by @federalreserve or @USOCC bank examiners, with direction from the top. If the examiner told a bank that a certain customer is too risky and the bank ended that relationship, the bank is contractually prevented from telling that customer why— Brian Quintenz (@BrianQuintenz) January 23, 2022

Quintenz did not offer any further information to support his claim, instead linking to Wyoming Senator Cynthia Lummis’ opinion piece published in the Wall Street Journal in November. In the article, Lummis criticizes the Fed for its failure to register several Wyoming-based, crypto-related special purpose depository institutions (SPDIs) as banks, thus preventing them form getting access to the federal payment system.In another response to Adams’ post, Kraken CEO Jesse Powell cited his own tweet from 2018 where he described how JP Morgan Chase had closed the crypto exchange’s payroll account on a 5-day notice sent by mail.Customers’ risk levels to a bank are typically assessed based on regulatory compliance. Although the motives for the debanking are unclear, last September, the Securities and Exchange Commission initiated a probe into the DEX’s developers regarding the marketing and investor services they provide.Under U.S. financial regulation, broker-dealers are required to register with the Financial Industry Regulatory Authority (FINRA) before they can facilitate clients’ trades. However, because funds are stored in consumers’ wallets instead of the Uniswap DEX and cryptocurrencies are not classified as securities, Uniswap, as with other DEXs and decentralized finance protocols, does not need to register with relevant regulatory bodies. According to CoinGecko, Uniswap is currently the largest DEX globally, with a 24-hour trade volume of $2.74 billion.

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Buyback-and-burn: What does it mean in crypto?

Miners can burn virtual currency tokens using the proof-of-burn (PoB) consensus mechanism. Proof-of-burn is one of several consensus mechanisms blockchain networks use to verify that all participating nodes agree on the blockchain network’s genuine and legitimate state. A consensus mechanism is a collection of protocols that use several validators to agree on the validity of a transaction. PoB is a proof-of-work mechanism that does not waste energy. Instead, it works on the idea of allowing miners to burn tokens of virtual currency. The right to write blocks (mine) is then awarded in proportion to the coins burned. Miners transmit the coins to a burner address to destroy them. This procedure uses few resources (aside from the energy necessary to mine the coins before burning them) and keeps the network active and flexible.  Depending on the implementation, you may burn the native currency or that of an alternate chain, such as BTC. In exchange, you’ll get a payout in the blockchain’s native currency token. However, PoB will reduce the number of miners, just as it will reduce the token supply because there will be fewer resources and less competition. This leads to the obvious problem of centralization since large miners are granted too much capacity, allowing them to burn massive amounts of tokens at once, drastically impacting price and supply. To get around this problem, a decay rate is frequently utilized, which effectively decreases individual miners’ total capacity to validate transactions. PoB is similar to PoS in that both need miners to lock up their assets to mine. Unlike PoB, stakers can get their coins back after they quit mining with PoS. In cryptocurrency, the buyback works the same way, by purchasing tokens from the community and putting them in the developers’ wallets. As a result, unlike coin burning, which permanently destroys the tokens circulating in the market, the buyback does not permanently eliminate their tokens.

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The life cycle of smart contracts in the blockchain ecosystem

The formation of a smart contract, freezing of the smart contract, execution of the smart contract and finalization of the smart contract are the four significant steps of a smart contract’s life cycle. It is different from the blockchain development life cycle, which begins with defining the issue you want to resolve with your blockchain product and ends with a minimum viable product. Create Iterative contract negotiation and an implementation phase make up the creation phase. First, the parties must agree on the contract’s overall content and goals. This is similar to traditional contract negotiations and can be done online or offline. On the underlying ledger platform, all participants must have a wallet. Its identifier is pseudonymous in most circumstances, and it is used to identify the parties and transfer payments. The contract must be converted into code after the objectives and content have been agreed upon. The expressiveness of the underlying smart contract coding language limits the contract’s codification. Most smart contract systems provide the infrastructure to build, maintain and test smart contracts to validate their execution behavior and content. The transition of requirements into code, as seen in traditional programming languages, necessitates multiple iterations between stakeholders and programmers. Smart contracts will be no different, and several iterations between the negotiation and implementation phases are likely. During the publication phase, after the parties have agreed on the codified form of the contract, it is uploaded to the distributed ledger. During this phase, nodes in the distributed ledger receive the contract as part of a transaction block. The contract is available for execution once most nodes have confirmed the block. Because decentralized smart contracts cannot be amended once the blockchain has accepted them, any changes to the smart contract will necessitate the development of a new one. Although a smart contract is placed on the blockchain, this fact alone should not be interpreted as a party’s agreement to enter the contract, as anyone can submit a smart contract to the blockchain, implying an obligation for any random wallet owner. Similarly, decentralized smart contracts can benefit any blockchain participant, whether or not they choose to receive the benefits in advance. Freeze Following its submission to the blockchain, the smart contract is confirmed by a majority of the participating nodes. A price must be paid to the miners in exchange for this service to keep the ecosystem from being flooded with smart contracts. The contract and its parties are now open to the public and available through the public ledger. During the freeze phase, any transfers to the smart contract’s wallet address are blocked, and the nodes operate as a governance board, verifying that the contract’s preconditions for execution are met. Execute Participating nodes read contracts that are stored on the distributed ledger. So, how is a smart contract executed? The contract’s integrity is verified, and the code is executed by the smart contract environment’s inference engine (compiler, interpreter). The smart contract’s functions are conducted when the inputs for the execution are received from the smart oracles and involved parties (commitment to goods through coins). The smart contract’s execution generates a new set of transactions and a new state for the smart contract. The set of findings and the new state information are entered into the distributed ledger and verified using the consensus mechanism. Finalize The resulting transactions and updated state information are put in the distributed ledger and confirmed using the consensus process after the smart contract has been performed. The previously committed digital assets are transferred (assets are unfrozen), and the contract is completed to confirm all transactions.

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