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Showing posts from January 22, 2022

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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While BTC’s Price Slid Lower, a Miner Spent an 11-Year-Old Block Reward from 2010 Worth $1.8M

Following the large string of block rewards from 2010 spent in November 2021, no block rewards from that year were discovered in December and throughout the next month up until January 21. On Friday, an 11-year-old block reward originally mined on November 22, 2010, was transferred for the first time since being idle for more than a decade. Block 93,276: The First 2010 Block Transferred in 2022 The first recorded 2010 block subsidy reward has been transferred on Friday, after close to two months of zero 2010 block reward spending. The block reward of 50 BTC was worth roughly $1.8 million at the time of transfer. The owner of the BTC address , however, did not spend the corresponding bitcoin cash (BCH) and bitcoinsv (BSV) , which equates to a touch less than $20K for the 100 unspent coins. The very last 2010 block reward spends occurred when the mega whale spent 20 BTC block rewards with 1,000-decade-old bitcoins when BTC tapped an all-time price high. The 50 BTC spend on Janua...
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What are flash loans in DeFi?

Flash loans, though relatively new, are quickly rising in popularity. Learn more about these uncollateralized-type loans in crypto in the article below. How can DeFi systems protect themselves from flash loan attacks? A large majority of DeFi hacks are flash loan attacks. Since the technology is new, vulnerabilities are not readily apparent and may require skilled developers to identify.  Flash loan attacks can cost DeFi protocols and their users hundreds of millions. As such, safeguards must be put into place to ensure that a protocol is robust and sanitized. Despite being vulnerable to attacks, there are several preventive measures that DeFi systems can take to protect themselves: Decentralized pricing oracles to protect against slippage Contracts are left vulnerable to manipulation and exploitation when they perform their own calculations of a particular token’s value or trading pair value internally.  As such, flash loan attack risks can be mitigated by using dec...
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KICK․IO Launchpad: The New Haven of Cardano “Venture Capitalists”

Crypto gains are not as good as they once were. The much-anticipated journey towards a more mature crypto space has been accompanied by a noticeable slide in the previously exponential returns that excited both retail and institutional investors alike. In the current investment climate, the more established tokens are becoming less volatile and the returns from ‘hodling’ are simply not as great as they once were. Naturally, while there is a lot of natural variation in investors’ portfolios, the industry-wide trends mean that today’s crypto returns are no longer minting new millionaires en masse. As some of the more prominent crypto analysts and enthusiasts have noted, the real returns are currently pooled in the so-called “Low-Cap Crypto Gems”, the next generation of projects, still in their early days of fundraising, still waiting for that big ‘pop’. That’s why, to satisfy the pent up demand from the modern-day ‘venture capitalists’, the team behind KICK.IO Launchpad and Project Ac...
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Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodler’s Digest, Jan. 16-22

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week NFT-focused Animoca Brands valued at $5B following $358M raise NFT and virtual property-focused firm Animoca Brands secured $358 million worth of funding earlier this week at a valuation of $5 billion. The company said the fresh funds will go towards financing strategic acquisitions and investments, product development, and IP accumulation. The firm has gone from strength to strength over the past 12 months, raising more than $216 million in 2021, while its valuation has more than doubled since its previous capital raise in October. A key area of focus for Animoca is GameFi, with the firm pointing to research suggesting that the video gaming sector will grow to around $829 billion by 2028. The firm is...
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3 possible reasons why Polkadot is playing second fiddle in the L1 race

The timing of parachain auctions and the lack of interoperability with Ethereum may have impacted Polkadot’s token price and its competitiveness against other layer-1 protocols. 2021 was a sort of "coming-of-age" for many layer-one (L1) blockchain protocols because the growth of decentralized finance (DeFi) and nonfungible tokens (NFTs) forced users to look for solutions outside of the Ethereum ( ETH ) network where high fees and network congestion continued to be barriers for many. Protocols like Fantom (FTM), Avalanche ( AVAX ) and Cosmos ( ATOM ) saw their token values rise and ecosystems flourished as 2021 came to a close. Meanwhile, popular projects like Polkadot ( DOT ) underperformed, comparatively speaking, despite the high expectations many had for the sharded multi-chain protocol. FTM/USDT vs. AVAX/USDT vs. ATOM/USDT vs. DOT/USDT daily chart. Source: TradingView Setting aside the specific capability that each protocol offers in terms of transactions per secon...
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El Salvador Plans to Offer Crypto Loans to Small-Scale Entrepreneurs

The government of El Salvador will offer cryptocurrency-based loans to small companies. Conamype, the National Commission for Micro and Small Enterprises, will be the link between the investors and a decentralized finance protocol called Acumen, that will be able to provide funding in stablecoins. The aim being to help small investors that have no credit history in the country. Small Companies in El Salvador to Receive Cryptocurrency-Based Loans Small companies in El Salvador will be able to receive funding to power their companies with cryptocurrency. The program is directed to include owners of small companies that still lack access to traditional finance tools. The loans will be offered through Conamype, the National Commission for Micro and Small Enterprises, which plans to offer these loans to their registered members. The announcement was made by Paul Steiner, President of Conamype, and Mónica Taher, in charge of Tech & Economic International Affairs, during a Facebook st...
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How should DeFi be regulated? A European approach to decentralization

The question for DeFi regulation: Is there an "owner" of the platform who can be held accountable for complying with the regulations? Decentralized finance, known as DeFi, is a new use of blockchain technology that is growing rapidly, with over $237 billion in value locked up in DeFi projects as of January 2022. Regulators are aware of this phenomenon and are beginning to act to regulate it. In this article, we briefly review the fundamentals and risks of DeFi before presenting the regulatory context. The fundamentals of DeFi DeFi is a set of alternative financial systems based on the blockchain that allows for more advanced financial operations than the simple transfer of value, such as currency exchange, lending or borrowing, in a decentralized manner, i.e., directly between peers, without going through a financial intermediary (a centralized exchange, for example). Schematically, a protocol called a DApp (for decentralized application), such as Uniswap or Aave, is d...
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