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How the BlockFi bailout could signal a change for the crypto industry
Some market observers think the deal between BlockFi and FTX could help usher in an new era of transparency in the crypto industry. The post How the BlockFi bailout could signal a change for the crypto industry appeared first on The Block.
Play2Earn Organizations That Are Pushing The Blockchain Envelope
Despite the macroeconomic backdrop and the ongoing bearish market, the play-to-earn (P2E) gaming ecosystem is growing by leaps and bounds. While it initially started with a handful of games featuring NFTs and in-game tokens, the P2E ecosystem, too, has evolved manifold with time. Within a year, a wave of promising P2E games and P2E gaming […] The post Play2Earn Organizations That Are Pushing The Blockchain Envelope appeared first on NFT News Today.
The Downfall Of De-Regulation: How Binance Could Have Learned From INX's First-Ever SEC-Registered IPO On The Blockchain
We have reached the tipping point in the demand for cryptocurrency regulation. The United States Securities and Exchange Commission is investigating whether Binance (CRYPTO: BNB) broke securities rules when it launched its token in an initial coin offering (ICO) five years ago, Bloomberg reported on Monday. Investigators are examining whether the 2017 ICO amounted to the sale of a security that should have been registered with the agency. On May 6, Reuters published a lengthy special report alleging that Binance processed at least $2.35 billion of transactions from hacks, investment frauds, and narcotics sales between 2017 and 2021 and had weak Know Your Customer (KYC) and Anti-Money Laundering (AML) protections for those years. INX Group registered their security when this token was ICO'ed. It took over 950 days and was the first to register its token as a security and IPO on the Blockchain through a Security Token Offering (STO). Companies offering STOs are subject to the registration and filing requirements of the U.S. Securities and Exchange Commission (SEC). Some of the regulations companies must comply with are Regulations A+, S, and D. A security token is digital, traditional security on the blockchain, backed by tangible assets, company revenue, or profits, so it cannot go to zero, leaving holders empty-handed. Ownership is verified via the blockchain using smart contracts, and the entire process is viewable to anyone. Investors purchase anything with the expectation of future returns, and when they purchase security tokens, they are protected under security laws. They are actively working to enable their users to trade responsibly. They are committed to following regulations and preventing bad actors from trading on the platform. The platform requires that users undergo an extensive KYC process which will extend to their new app launching this week. They have put in the time and work to ensure that users are protected, that security tokens and crypto are adequately regulated, and that extensive due diligence is performed on anything listed. This new regulation chapter laid out by the Responsible Financial Innovation Act, drafted by Senators Lummis and Gillibrand, will be a time of learning and growth for this industry. Let this represent a bright future for crypto safety and regulation, where more and more people can feel safe and secure participating in a tokenized economy. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
StepN Brings The Next Phase Of Run-To-Earn And Other Incentives On The Blockchain
StepN is a Dapp that uses the Solana blockchain. The basic idea behind StepN is to provide users with a way to stay active while earning something. It was the first of its kind to offer users a way to make a token as they run or walk around. According to the official website and […] The post StepN Brings The Next Phase Of Run-To-Earn And Other Incentives On The Blockchain appeared first on NFT News Today.
Everyone’s a crypto-native now: How DC learned to stop worrying and love the blockchain
Faced with heightened regulatory interest, crypto has become remarkably fashionable within DC, writes The Block's Kollen Post. The post Everyone’s a crypto-native now: How DC learned to stop worrying and love the blockchain appeared first on The Block.
Solana Stopped Working Again This Weekend: Here's Why The Blockchain Crashed for 7 Hours
Solana (CRYPTO: SOL) — a high scalability smart contract-enabled blockchain, which many believe to be the Ethereum-killer (CRYPTO: ETH) — saw 7 hours of downtime on Saturday, now investigations have revealed why. This follows the network crashing in mid-September 2021 and January 2022. What Happened: Solana representatives revealed in a Tuesday blog post that the blockchain — which failed to produce any new blocks for 7 hours on Saturday — was brought down by bots tied to a new non-fungible token (NFT) project. Blockchain explorers show that on average Solana processes about 2,700 transactions per second, with peaks reaching over 710,000 transactions per second as specified in developer documents. On Saturday — due to the aforementioned bots — the network was asked to handle the impossible, as millions of transactions per second were sent to its nodes for processing. The network being flooded with 6 million transactions per second coincided with its nodes also surpassing 100 Gbps of traffic at some nodes. As one would expect, this resulted in the network running out of memory and crashing. Also Read: Top 10 NFTs By Weekly Sales Volume: Otherdeed For Otherside Dominates List, A Solana NFT Project Breaks Into Top 5 The Aftermath: Developers wrote that "there is no evidence of a denial of service attack, but instead evidence indicates bots tried to programmatically win a new NFT being minted using the popular Candy Machine program." The fallout resulted in validators running out of memory while trying to clear up transactions in abandoned blocks, and the number of total forks that necessitated evaluation exceeded what the software was able to process. Manual reconciliation of the blockchain was needed. The bots were attempting to exploit a popular NFT minting program known as Candy Machine and mint tokens. The tokens were sold for a fixed price instead of being won via Dutch auctions, which resulted in an incentive for bots to send a high number of transactions hoping to win the NFTs by pure chance — causing excessive spam on the network. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
HoneyWood: A Play-and-Earn Game On The Blockchain
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. HoneyWood is a game that promises captivating gameplay. It is a play-and-earn game that is open to all ages and backgrounds. Players build a farm, breed bees for honey, and battle against other players. Additionally, players can actively earn cryptocurrency on it. HoneyWood is built on a separate blockchain with low fees and high capacity for the best gaming experience. It offers PvP and PvE modes, farming mechanics, staking, and highly original NFTs. The game development began in August 2021, becoming one of the first play-and-earn project. The Cosmos and Tendermint technologies, which the Interchain Foundation backs, are used to create the game. Moneta Today- a cross-chain ecosystem made the development possible by investing in it. The various ecosystems backing the game give it access to several applications. The project is currently in phase one of its roadmap and is beta-testing the game. While the game's release is planned for the 13th of May, 2022, the initial game offering (IGO) is set to take place in June 2022. After the release, HoneyWood will feature a laboratory and a market with NFT characters endowed with unique gaming properties. The first version of the HoneyWood game will feature PvP and PvE modes using the Match3 mechanics. The PvE mode will allow players to battle the computer (bots) to improve their gaming skills and master the mechanics. This mode requires no commission fees and offers no rewards either. It is created for those who are less familiar with the mechanics. The PvP mode allows bears to fight against each other. Bears can earn HoneyCoins for defeating other bears in the PvP arena. The 7x7 playing field has various tokens that bears can arrange to build their score. Each game consists of four rounds, and each bear has two moves with an opportunity to make extra moves. Both bears must deposit HoneyCoins to engage in a PvP battle. The higher the player's rank, the higher the amount required to play in PvP mode. The bees will have multiple functions and utilities in HoneyWood. However, they will act as the base forms for future bees. The game will feature a game store and marketplace. The game store will support buying game items in exchange for HoneyCoins, while the marketplace will enable trading between bears. Items that can be traded include apiaries, trees, decorations, bees, and field tiles. Some exclusive items would require CONE in exchange. HoneyWood, the Two Currency Ecosystem HoneyWood is powered by two native coins- HoneyCoin and CONE. Both coins will be listed on exchange platforms in Q3 and Q4 2022, respectively. They are not smart contract tokens, and each has its advantage and is suited for different gaming strategies. All players require HoneyCoin to operate in HoneyWood. It can be used to trade items, expand farm assets, and battle with other bears in the match3 arena. Although the game is free, HoneyCoin is needed to play the PvP mode. 10% of the revenue generated from HoneyCoin sales will be returned to Moneta Today ecosystem. About 287,966,667 HoneyCoins would be released initially at the cost of $0.02. However, new coins will be generated when bears farm during gameplay. The game economy will maintain a stable supply of HoneyСoin by implementing stabilized internal mechanics and preset system parameters. CONE is a utility coin for staking and governance. It can be minted when bears plant new trees. CONE can be staked to earn passive income or used to participate in creating game policies. Over 19,000,000 CONEs will be made available when it is listed. The number of coins will grow slowly. Players will receive 1 CONE for any 10 HoneyCoins spent on planting trees. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
Tezro: A Disruptive Payment Solution Set To Transform the Blockchain Ecosystem
Imagine a platform that allows users to instantly send messages and process both fiat and cryptocurrency transactions anywhere in the
Binance: US Branch Leaves The Blockchain Association, Restricts Services in Russia in Compliance With EU Sanctions
Binance US has left the Blockchain Association with immediate effect. The American affiliate of the world’s biggest crypto exchange said a distance existed between the goals and ideals of both entities. The announcement comes just two years after Binance US initially joined the association back in 2020. In the same week, Binance has also restricted access to its services in Russia. Reports claim the exchange had no other choice but to effect the limited ban following stiff pressure from the European Union due to the ongoing war in Ukraine.
Tabletop roleplaying games are coming to the blockchain and this is just the beginning – Get on Board.
GRIPNR Introduces The Glimmering: The World’s Only 5e On-Chain, Play-to-Progress TTRPG Played with Collectible NFT Characters. Tabletop roleplaying games are now coming onto the blockchain and it just makes sense. GRIPNR is working to build on the classic TTRPG model by rewarding contributors for their passion, work, and fun. Gripnr is a Web3 technology company […] The post Tabletop roleplaying games are coming to the blockchain and this is just the beginning – Get on Board. appeared first on NFT News Today.