Category Archives: Binance Smart Chain
TMS Network (TMSN) Shines as Investors Shun Binance Coin (BNB) and Cardano (ADA) | Bitcoinist.com – Bitcoinist
The TMS Network (TMSN) narrative has continued to gain traction among DeFi investors. This new market entry has seen a massive influx of investors rush to its ongoing presale. On the other hand, mainstream cryptocurrencies Binance coin (BNB) and Cardano (ADA) have been declining. This article aims to connect the volume influx in TMS Network to the outflow in Binance Coin (BNB) and Cardano (ADA).
Binance coin (BNB) is the native currency of the Binance exchange, the worlds largest centralized cryptocurrency exchange. Binance coin (BNB) is used to settle transactions on the Binance Smart Chain network, vote on network proposals, and stake to earn rewards.
One of the major limitations of Binance Coin (BNB) is centralization and government regulation. Binance is a centralized exchange, meaning it is subject to government regulation. This might put Binance Coin (BNB) holders at risk if Binance is ever shut down. Binance Coin (BNB) is also competing with other cryptocurrencies that provide similar benefits, such as Ethereum, which can be used to settle transactions on a decentralized blockchain network.
Cardano (ADA) is a decentralized Proof-of-Stake (PoS) blockchain platform that was launched in 2017. Cardano (ADA) is designed to be a more scalable alternative to Ethereum (ETH). It is based on the Haskell programming language and employs a layered architecture.
Cardano (ADA) ascended to become one of the top cryptocurrencies by market capitalization, ranking seventh. However, Cardano (ADA) has its fair share of issues discouraging investors and developers.
Cardano (ADA) is based on a scientific research approach that has significantly slowed network development. For instance, Cardano (ADA) did not implement smart contract capability on its mainnet until September 2021, much after competitor blockchains such as Solana and Ethereum. Cardanos adoption is also limited by slow transaction processing, with a block time of only 20 seconds. This makes Cardano unfavorable for use cases that require high transaction speeds, such as decentralized finance (DeFi).
TMS Network (TMSN) is a decentralized, all-in-one trading platform that aims to revolutionize the traditional trading industry. The Ethereum-based platform offers traders a wide range of features and tools to assist them in effectively managing their portfolios and making informed trading decisions.
TMS Network (TMSN) is designed as a highly scalable, secure, and communitydriven project on the Ethereum network. The platform takes advantage of Ethereums many advantages while improving on its shortcomings, making it superior to most other platforms, including Cardano (ADA) and Binance Coin (BNB).
For instance, unlike Binance Coin which is controlled by a centralized entity, TMS Network (TMSN) is fully decentralized, making it suitable for decentralized finance activities. TMS Network (TMSN) also has more security measures than Binance Coin (BNB). The TMS platform employs non-custodial portfolio management technology as well as multi-factor authentication, making it more secure than Binance Coin (BNB), which is custodial and has been hacked in the past.
TMS Network (TMSN) allows instant transaction processing at very low transaction fees, unlike Cardano (ADA) which charges higher fees. Cardano (ADA) has also faced criticism for scalability in the past. TMS Network (TMSN) on the other hand can handle a large number of transactions without experiencing performance issues.
TMS Network (TMSN) is a relatively new cryptocurrency with a low market cap, giving it a significant advantage over Binance Coin (BNB) and Cardano (ADA) in growth. The $TMSN token is currently trading at $0.104 in its fourth and final round of presale. Market analysts are bullish on $TMSN, forecasting up to 100x profits for early investors.
Join the TMS Network (TMSN) presale today for a share in what could be the next big thing in crypto. For more information on TMSN Network (TMSN):
Presale: https://presale.tmsnetwork.io/
Website: https://tmsnetwork.io/
Telegram: https://t.me/tmsnetworkio
Twitter: https://twitter.com/tmsnetwork_io
Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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MIM Integrates LayerZero’s OFT Standard to Become the First … – BSC NEWS
By utilizing the OFT Standard, the integration transforms MIM into an omnichain fungible token, enabling an array of cross-chain capabilities.
Abracadabra Money has made a significant announcement regarding the upgrade of MIM, their stablecoin, in collaboration with LayerZero. This upgrade marks a major milestone since the inception of Abracadabra. MIM has become the first omnistable to adopt LayerZero's Omnichain Fungible Token (OFT) standard.
With the integration of LayerZero, MIM users can now enjoy a whole new level of interoperability and freedom. Notably, the migration to LayerZero will not require any changes to MIM addresses on all chains.
Leveraging LayerZero's OFT standard, MIM holders can seamlessly transfer their tokens across multiple networks without experiencing slippage, lengthy wait times, or transaction fees. This advancement represents a significant leap into the future of decentralized finance, eliminating the limitations of the past.
LayerZero, a decentralized cross-chain messaging solution, facilitates seamless interoperability between various blockchain networks, including Ethereum, Arbitrum, Binance Smart Chain, Avalanche, and others currently supported by Abracadabra Money.
As an omnistable, MIM now possesses advanced beaming capabilities, allowing for cross-chain borrowing, repayment, and liquidation. This means users can deposit collateral on one chain and receive MIM directly on another chain.
By being a part of the LayerZero ecosystem, users become early adopters of the DeFi revolution. The LayerZero technology is the foundation for various upcoming platforms, offering users the opportunity to explore novel technologies centered around omnistables.
MIM is fully compliant with the OFT standard, making it seamless to integrate with the numerous projects being built on top of LayerZero. Abracadabra Money is thrilled to be at the forefront of innovation, propelling DeFi into a new realm of possibilities in the omnichain world.
LayerZero is a protocol that allows blockchain networks to conduct direct cross-chain transactions. It enables new ways of interacting across chains without the need for a third party to act as an intermediary.
LayerZero includes a lightweight on-chain client called the LayerZero Endpoint, which is supported by all chains.
Learn more about LayerZero:
Website | Twitter | Discord
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MIM Integrates LayerZero's OFT Standard to Become the First ... - BSC NEWS
Top Crypto Presale To Invest in 2023 – Analytics Insight
Cryptocurrencies continue to captivate investors and enthusiasts worldwide, offering opportunities for financial innovation, decentralized applications, and transformative possibilities across various industries.
While Shiba Inu (SHIB) struggles due to a liquidity crisis and low total value locked (TVL), hindering upward momentum, Binance Coin (BNB) shows promise with the expansion of Binance Smart Chain (BSC). Excitement builds for Caged Beasts (BEASTS) presale, featuring new beasts and a referral program for additional BEASTS tokens.
Despite the volatile nature of the cryptocurrency market, Shiba Inu (SHIB), a well-known meme coin, is struggling to gain consistent upward momentum. This is primarily due to a liquidity crisis, TVL, and unappealing annual percentage yield (APY) offered by liquidity pools, all of which indicate a lack of demand for SHIB as a liquidity provider (LP).
The liquidity crisis of SHIB is evident in the limited volume of tradable tokens, compromising the assets stability and discouraging potential investors while causing existing holders to reconsider their stakes. This stagnant state presents a significant obstacle to SHIBs price growth.
Additionally, the low TVL of SHIB raises concerns. TVL represents the total assets staked in a cryptocurrencys network or DeFi protocol. A low TVL signifies reduced activity on the network, which is often interpreted as a lack of investor trust in the assets potential for generating yield.
This lack of activity deters new investors and suppresses SHIBs price growth. Furthermore, the unimpressive APYs offered by various liquidity pools compound the problem. With below-average returns, liquidity providers lack the incentive to stake SHIB in DeFi pools.
The performance of BSC has always correlated directly with the price trend of Binance. As more projects choose BSC for its efficiency and cost-effectiveness, the demand for BNB naturally increases, providing a solid foundation for its price. This effect is particularly notable in the DeFi sector, where BSC projects like PancakeSwap dominate the market and drive BNB to new heights. The rapid expansion of BSC showcases the adaptability and versatility of the Binance ecosystem.
As the network continues to grow, it creates a thriving environment that may result in a significant price increase for BNB. Given the current market conditions, an 11% price surge could be on the horizon. Despite trading at a 75-day low, the strengthening Binance ecosystem has the potential to fuel a bullish comeback. Traders and investors should closely monitor the movement of BNB in the upcoming days, as a sudden trend reversal could spark a new rally.
Caged Beasts (BEASTS), an upcoming meme coin project, is generating immense excitement within the cryptocurrency community as it prepares for its highly anticipated presale. This presale has the potential to become one of the standout events of the year, expected to unfold rapidly. The project aims to prioritise both community involvement and utility, offering users the thrilling elements typically associated with meme coins.
Caged Beasts presale stands out with its distinct offering of unveiling a new beast at each stage. This pioneering feature is expected to have a profound impact by increasing the value, capturing attention, and igniting excitement for the coin, thereby creating a vibrant community buzz throughout the process. In addition to this enticing aspect, Caged Beasts presents investors with an opportunity to earn free cryptocurrency and passive income through its referral program during the presale.
The referral program enables users to create their own referral codes, which they can distribute to anyone they choose. When a referred user makes a deposit in ETH, BNB, or USDT, utilising the referral code, both the referrer and the referred investor will receive a bonus of 20% extra BEASTS tokens.
This innovative program fosters an interactive and mutually beneficial environment for all participants involved. Register yourself on the website to avail all the presale benefits and updates.
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
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InQubeta (QUBE) Compete With Binance Coin – The Cryptonomist
SPONSORED POST*
As the cryptocurrency industry grows, more coins will launch into its ecosystem. This highly competitive space is already packed with terrific coins, each with distinct qualities. Each of these tokens battles it out on the charts to become the best crypto investment. With so many altcoins already possessing obvious similarities, investors seek exciting and fresh projects.
The peculiarities a token brings to the market are reasons why it could become a top crypto to invest in. Analysts say that some of these new cryptos may threaten seasoned coins. InQubeta is an exciting project that has hit the ecosystem with a bang. Market analysis suggests that InQubeta (QUBE) may even give Binance Coin (BNB) and Cardano (ADA) a run for their money.
The InQubeta presale continues to gain mass traction and has already raised over $300,000. The beta stage of this presale has sold over 70% of its tokens. This unique project brings never-before-seen opportunities to the market, which is why it is a top crypto to invest in right now.
Artificial intelligence (AI) has grown in popularity over the last year. AI is now widely adopted as a development in top global industries and InQubeta seeks to make sure the world of crypto is not left behind with a unique approach.
InQubeta is the first crypto platform that allows investors to raise capital for small AI businesses through crowdfunding. Using its governing token, QUBE, investors will own shares in these start-ups via fractional investment. With InQubeta set to experience vast growth, investors can be sure of reaping huge profits from its marketplace.
InQubeta has been called a major contender in the industry by experts. They are convinced this token will compete with, and overpower, many of the top coins dominating the market. As its record-smashing presale gains more traction, this token could join the best cryptos in the ecosystem soon.
Visit InQubeta Presale
Binance Coin is the currency issued by Binance, a decentralized exchange platform (DEX). By volume, Binance is one of the largest cryptocurrency exchange platforms in the industry. Binance Coin was initially launched as an ERC-20 token but later switched to the Binance Chain. This token was designed to carry out ultra-fast transactions.
BNB executes its functions excellently on the Binance Smart Chain, which is fully equipped to produce high-performing decentralized applications (DApps). While BNB is popular in the crypto verse, it has experienced a decline in its rally. This is because new and intriguing projects, like InQubeta, have hit the scene. InQubeta has significantly overshadowed this token as its presale makes waves.
Cardano is one of the biggest names in cryptocurrency today. This token was designed as a revolutionary modification of Ethereum. Over the years, the Cardano blockchain has grown rich in efficiency, flexibility, sustainability, and scalability. Cardano permits smart contracts by enabling developers to build various DeFi apps.
The ADA token is prominent in the market as an excellent investment option. However, it has failed to shine as investors cannot see past the radiant InQubeta presale. As investors continue their search for vibrant new tokens, seasoned coins like ADA are overlooked.
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Final Thoughts
Cardano and Binance Coin are undoubtedly two of the best cryptos the metaverse has seen. Notwithstanding this, as the market grows, new tokens are expected to prove themselves and rise to prominence. InQubeta is a phenomenal new token that is flourishing in its presale. This token has overshadowed leading cryptos like Cardano and Binance Coin and it threatens their positions on the charts. With InQubeta about to experience explosive growth, experts are convinced that this token can compete with other seasoned coins in the market.
Visit InQubeta Presale
*This article was paid for Cryptonomist did not write the article or test the platform.
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InQubeta (QUBE) Compete With Binance Coin - The Cryptonomist
Missing Multichain CEO Is Causing Ripples Across the Industry – Yahoo Finance
The blockchain industry is starting to feel the repercussions of the missing CEO of Multichain, the largest blockchain bridge by assets, as service for at least 11 chains was interrupted. Security experts and founders say other chains could come next.
Multichain on Wednesday said it suspended services for Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq chains as its CEO remains absent.
While available data suggests top affected blockchains Ekta, ONUS, Omax, Findora, Planq, and Mint account for just over $55.5 million in market capitalization, Multichain also services Ethereum and Binance Smart Chain. There are $1.45 billion in assets held in Multichain smart contracts.
If the Multichain bridge can't process transactions, it will have a negative impact on all chains connected to it, according to Reza Bashash, Co-Creator & Technical Lead at Sologenic and Coreum. He explained that the situation is particularly problematic for chains where Multichain acts as a custodian on one chain and a wrapped token issuer on another.
Not only will the collateral be lost, but also the value of the wrapped tokens will become 0 as they cannot be converted back to the underlying token.
Issues at Multichain began late last month when its CEO went missing, and yet unconfirmed rumors spread of his arrest in China.
In an industry built around the notion that blockchain networks should feature no single points of failure, it is perhaps ironic that a decentralized service connecting those networks, in fact, does.
Multichain did not respond to a request for comment from The Defiant.
Shahar Madar, head of security products at digital asset custody and settlement platform Fireblocks, said that it boils down to how Multichain implemented its network and systems in terms of two aspects: One is the redundancy. And the second one is security.
Despite being a decentralized protocol, the lack of redundancy in the case of Multichains centralized server access ultimately caused big ripples in liquidity downstream. As Madar points out, One guy doesn't answer the phone for 24 hours, and suddenly everyone fears for billions of dollars potentially.
Story continues
Madar also said that since a single party with central access may be forced, influenced, or coerced by authorities and thus could be compromised, to what extent should any one person have critical influence over a decentralized platform?
Affected parties are already planning for the worst.
Rather than wait any more after a week-long hiatus, Coreum found itself prompted to make a strategic decision, according to Bashash.
Coreums workaround is a non-custodial solution to empower users to burn their Core tokens directly on the XRPL chain, which can then be retrieved on the Coreum mainnet, said Bashash, adding that the objective behind the decision is to avoid future disruptions of this magnitude.
If this situation is not promptly rectified, it could have substantial repercussions on the broader cryptocurrency market, causing a decrease in confidence in the security of DeFi platforms and bridges, leading to market instability, said Bashash.
Coreum is currently trading up 2.7% in the last 24 hours at $0.19.
The central point of failure resulting in a service suspension is among the reasons Brent Xu, founder and CEO of DeFi lending protocol Umee, points to bridges as one of the main risks you need to look at.
The bridges right now are all really bad because they're very dangerous, said Xu, adding that they can be hacked or allow for validators to be targeted, resulting in lapses of service.
Madar said the developing situation with Multichain will come to stand as a future reference point to single points of compromise that will serve as a lesson for building a more resilient ecosystem.
Xu said that anyone who's building other bridges or even improving on Multichain in the future will take lessons in the past, he said. But the problem is that the lessons of the past for crypto are very expensive.
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Missing Multichain CEO Is Causing Ripples Across the Industry - Yahoo Finance
AiDoge Presale Hits $12 Million, but Could Chancer Be the Best Crypto To Invest in Now? | Bitcoinist.com – Bitcoinist
As the crypto market continues to evolve, new projects and tokens are constantly vying for investors attention. Two projects, in particular, have recently stood out AiDoge and Chancer. But while some consider AiDoge to be vastly overhyped, more astute investors have been eagerly watching the Chancer presale.
AiDoge, a new AI-powered meme generation and sharing platform, has been receiving significant attention lately mainly due to the ongoing presale of its native $AI token. However, beneath the hype and hysteria, serious concerns are being expressed.
A closer look at AiDoge reveals its primary offering to be a concept called Meme-to-Earn, which allows users to create AI-generated memes and earn AI tokens in return. While exciting on the surface, critics argue that AiDoge lacks substance or any real world application that makes crypto an attractive investment in the first place. Its reliance on meme culture casts stark doubt over its long-term sustainability.
Despite the hype around AiDoges $AI token presale, which has recently hit $12 million, investors would do well to exercise caution. Those already aware of the red flags have been pointing to a much more promising project thats well poised to disrupt a real world industry: Chancer.
Chancer is a blockchain-based platform aiming to revolutionize the online betting sector. In an industry worth over $60 billion, Chancer represents a significant departure from the traditional centralized betting model by bringing peer-to-peer (P2P) betting to the masses.
Unlike traditional betting platforms, where the odds are typically skewed in favor of the house, Chancer levels the playing field; instead, users are the house. They can create betting markets with virtually no restrictions; users can do anything, from a friendly wager amongst friends, to a global event watched by billions of people, setting their own odds, with outcomes independently verified by Chancers impartial moderators.
An integral part of Chancers ecosystem is the CHANCER token. Not only is CHANCER used to place bets and receive payouts, but it also allows users to realize staking rewards and discounted fees.
Market makers can even earn extra CHANCER by proactively promoting their markets under the platforms Share2Earn program, meaning the more bettors they attract, the greater their reward. Chancer plans to make sharing these markets as easy as possible, offering real-time video feeds of bets, results, and scores by utilizing Googles WebRTC technology.
In essence, co-founders and brothers Paul and Adam Kelbie are prioritizing user experience, transparency, and control above all else a stark contrast from the existing gambling industry. Operating on the Binance Smart Chain (BSC), all transactions will be publicly visible, while transaction times and withdrawal fees are minimal. It also paves the way for Chancer to become a decentralized app (dApp), offering users crucial votes on the platforms future governance.
The Chancer presale is just getting underway, aiming to raise $15 million. Currently priced at $0.01, Chancer presents a golden opportunity to be a part of a project that promises to redefine online gambling. Compared to AiDoges uncertain future in a market filled with meme coins, CHANCER seems to offer much more potential for long-term growth.
Given that the Chancer presale is only just beginning, few expert price predictions have been made for the CHANCER token. In that case, it might be better to look at a similar disruptive project: Chiliz. Chiliz is a fan engagement platform that offers sports clubs a new way to connect with their supporters, allowing them to create fan tokens that provide exclusive benefits for holders.
Chiliz initially launched to the general public at $0.0163 in September 2019, soaring to a high of around $0.8894 in March 2021. In other words, the CHZ token rose approximately 5,356% in that time.
Applying these figures in the context of the mammoth gambling industry, its reasonable to project that CHANCER could rocket well beyond its current price of $0.01 to reach $0.50, even $0.60, within a year or two.
Given Chancers unique P2P betting approach and commitment to maximizing the user experience, it seems poised to attract thousands of users looking for a fairer way to bet. In this scenario, CHANCER could easily see a meteoric rise and potentially deliver early investors CHZ-style gains.
Crypto investments require careful consideration of each projects underlying technology, use case, and potential for real world disruption. While AiDoge has created a wave with its novel Meme-to-Earn concept, it falls short in terms of actual application and long-term viability.
On the other hand, Chancers goal of revolutionizing the booming online betting industry through decentralization is a much more exciting prospect. Its user-centric P2P features are likely to be a smash hit with bettors across the globe and the potential for CHANCER to soar in the coming months is enormous. Dont miss out on this opportunity to jump on board with what could be one of the best cryptos to invest in this year!
You can take part in the CHANCER presale here.
Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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DeFi – Reshaping the Future of Finance with the power of Blockchain – Captain Altcoin
Home Journal DeFi Reshaping the Future of Finance with the power of Blockchain
Decentralized Finance (DeFi) is reshaping the financial landscape by providing individuals with direct access to financial services without intermediaries. This article explores the transformative power of DeFi, highlighting key aspects such as smart contracts, automated market makers (AMMs), yield farming, challenges, and the future of finance.
DeFi democratizes financial services by leveraging blockchain technology to eliminate the need for traditional banks. Smart contracts, self-executing agreements encoded on the blockchain, enable a wide range of innovative financial services without intermediaries. This includes lending, borrowing, decentralized exchanges, and yield farming.
AMMs, a crucial component of DeFi, provide liquidity to decentralized exchanges by algorithmically determining token prices. This eliminates the reliance on traditional order books and promotes continuous trading without centralized intermediaries.
Yield farming has become popular within DeFi, enabling users to earn passive income by lending or staking their assets in liquidity pools. However, it is important to evaluate associated risks and carefully choose projects before participating. Despite its potential, DeFi faces challenges in scalability, security, regulatory frameworks, and user experience. Collaborative efforts from developers, regulators, and industry players are essential to build a robust and sustainable DeFi ecosystem.
Looking ahead, DeFi has the potential to revolutionize the financial landscape globally. By providing transparent and secure access to financial services, regardless of location or financial status, DeFi fosters financial inclusion and innovation. The future of finance is decentralized, where individuals have control over their funds and can participate in a transparent and inclusive financial ecosystem.
On-chain trading is another important category within the realm of decentralized finance (DeFi). It involves the direct exchange of cryptocurrencies between traders without the need for intermediaries such as banks or brokers. To facilitate this type of trading, decentralized exchanges (DEXs) play a crucial role. Well-known examples of DEXs include Uniswap and Sushiswap, both operating on the Ethereum blockchain. These DEXs employ smart contracts to determine prices and execute trades, settling transactions directly on the blockchain.
DEXs utilize two types of order books: on-chain and off-chain. On-chain order books maintain a comprehensive record of all orders and require miners to confirm each transaction. In contrast, off-chain order books store transaction records in a centralized entity and utilize relayers to manage these books, making them somewhat decentralized.
Within the realm of DEXs, perpetual DEXs offer traders the ability to retain control of their private keys while participating in trading activities. This feature enhances security, reduces fees, and provides greater autonomy for individual traders. However, decentralized protocols for perpetual contract trading face challenges such as significant slippage, high costs, and limited tool support. To address these issues, platforms like Palmswap have emerged as decentralized perpetual contract trading protocols. Palmswap leverages a proprietary pricing model called dvAMM and is built on the Binance Smart Chain.
In summary, on-chain trading represents a decentralized approach to trading conducted on blockchains through the use of DEXs, smart contracts, and order books. Perpetual DEXs offer enhanced security, reduced fees, and increased control for traders. However, they face challenges such as high slippage and costs, which can be mitigated by adopting specialized pricing models and utilizing foundations like the Binance Smart Chain.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
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DeFi - Reshaping the Future of Finance with the power of Blockchain - Captain Altcoin
ChainGPT Released an AI-powered NFT Generator – First of its Kind – CryptoPotato
[PRESS RELEASE Please Read Disclaimer]
Provider of AI infrastructure to the crypto, blockchain, and Web3 industry, ChainGPT has just announced the successful rollout of its NFT Generator prototype to the general public.
Try the ChainGPT AI NFT Generator: NFT.ChainGPT.org | Learn more: ChainGPT.org
The ChainGPT generator is an AI-powered visual synthesizer that transforms abstract ideas formatted as text prompts into breath-taking images and NFT collections. From unique 1-of-1 memorabilia to an assemblage of 10,000 pieces, users are now just 30 seconds away from deploying their imaginations on-chain.
Previously a tedious, technical, and time-consuming process, getting involved in the NFT scene from the creators side was prohibitively expensive. Informational asymmetry in usability was keeping out an immense segment of entrepreneurs that simply did not have the resources or the know-how to participate. By packaging the entire process of conceptualization, iteration, and deployment into a sleek, comprehensive user interface, all while reducing the creative costs by as much as 10-100x, ChainGPT hopes to open up a new world of opportunities for an entirely new caliber of market participants in the world of Web3.
Ilan Rakhmanov, CEO of ChainGPT, said:
At ChainGPT, our main focus is to solve real web3 problems by utilizing AI. Making simple tasks like generating NFT collections, affordable, and well simple.
Underpinning the generator is a sophisticated stack of leading industry standard technologies leveraging everything from Natural Language Processing (NLP) to transformer architecture that is intended to provide the most complete and intuitive user experience. No matter how complex or abstract a request is, the AI engine of the ChainGPT NFT generator will be able to interpret the demands of any user (in any language) and produce a pertinent result.
Powered by the $CGPT token, every interaction with the ChainGPT AI NFT Generator acts as recursive feedback.
As a project that cherishes decentralization, ChainGPT plans to distribute the ownership of the generator among its DAO members. Currently available on Binance Smart Chain and two testnets, as the product matures, ChainGPT will integrate its every other major blockchain network that is voted in by the community.
Creating on-chain NFT collections was never easier.
Leveraging all leading technological breakthroughs in the fields of machine learning, NLP, and transformer architecture in its design, the ChainGPT AI NFT generator has been purpose-built to realize the most abstract ideas and turn arbitrary concepts into tangible, visual, on-chain products.
ChainGPT is the provider of AI-powered infrastructure for the crypto, blockchain, and Web3 industry. From automated smart contract generation and auditing, to autonomous community management, advanced Web3 AI chatbot, and AI-powered news aggregation, ChainGPT is the most sophisticated, end-to-end AI solution on the market.
> To learn more about ChainGPT visit the official ChainGPT.org website
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
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ChainGPT Released an AI-powered NFT Generator - First of its Kind - CryptoPotato
Massive Atomic Wallet Hack Revealed: Over $35M Stolen across … – Blockchain.News
On-chain investigator ZachXBT has reported a significant security breach on Atomic Wallet, a leading non-custodial decentralized walletwallet. The hacker targeted various cryptocurrencies, managing to steal more than $35 million across different chains, according to ZachXBT's updates on Twitter.
In his series of tweets, ZachXBT noted the discovery of a new victim on the Tron blockchain with a massive loss of 7.95 million USDT tokens, making it the largest individual theft on Tron to date. The five biggest losses reported from this attack on Atomic Wallet accounted for $17 million.
The investigator also revealed that the largest individual loss from the hack was a wallet stripped of $3.5 million, equivalent to 1897 ETH. The cumulative losses of the five biggest victims totaled a shocking $9.7 million.
ZachXBT's compiled data indicates the worrying scale of the hack, which affected multiple blockchains. The stolen funds have been traced across Bitcoin, ETH, Tron, Binance Smart Chain (BSC), Cardano (ADA), Ripple, Polkadot, Cosmos, Algorand (Algo), Avalanche (Avax), Stellar Lumens (XLM), Litecoin (LTC), and Dogecoin (DOGE). His graph, indicating the scale of the attack, has exceeded $14 million, with ZachXBT estimating the total amount pilfered to be at least $20 million.
The on-chain expert warned users to be vigilant against phishing attempts, which have spiked in the aftermath of the breach. Scammers have reportedly been posting fake Atomic Wallet refund tweets to take advantage of desperate victims.
He also shared more insights about the hack, revealing that besides the largest single victim who lost 2.8M USDT, there have been multiple other victims suffering six-figure losses across different chains. He thanked the victims who had reached out and shared their transaction hashes, adding that the root cause of the breach is yet to be determined.
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Massive Atomic Wallet Hack Revealed: Over $35M Stolen across ... - Blockchain.News
Cumberland Labs launches a beta version of its SaaS API … – Cryptopolitan
Cumberland Labs, the incubator arm of Chicago-based crypto trading company Cumberland, has introduced a beta version of a new API tool aimed at streamlining the process of connecting to blockchain and decentralized finance (DeFi) protocols. The tool called expand.network, was developed in response to Cumberlands challenges in connecting to various protocols manually.
Traditionally, Cumberlands trading unit, a subsidiary of DRW Holdings LCC, had to invest significant time in connecting to different protocols individually. However, the company was unable to find an existing tool that could simplify this process. Consequently, they decided to develop their API service, utilizing their internal team of developers and engineers from Cumberland Labs. The tool has undergone testing since November and is now available to the public in beta.
An API, or application programming interface, is a means by which different types of programming can communicate with one another. Cumberland Labs recognized the need for a tool similar to the ccxt library used for centralized exchanges, which could connect to any DeFi protocol or blockchain. The absence of such a tool prompted the development of expand.network.
The newly launched solution provides both read and write connectivity to major public blockchains and DeFi protocols, facilitating interaction across multiple protocol APIs and software development kits (SDKs). The startup, called a Web3 company, aims to address the issue of inefficiency in cross-chain communication, though it differentiates itself from cross-chain solutions. According to Demetrios Skalkotos, the CEO of expand.network, while these two concepts may appear similar, they serve distinct purposes. While cross-chain solutions primarily focus on facilitating the transfer of messages and tokens between different chains, expand.network offers a more comprehensive and versatile solution by providing connectivity to chains and protocols across the DeFi landscape.
The expand.network tool supports Ethereum Virtual Machine (EVM)-compatible chains such as Ethereum, Binance Smart Chain, Avalanche, Polygon, Cronos, Arbitrum, and Optimism. Additionally, it extends support to non-EVM-compatible chains like Solana, Tron, NEAR, and Algorand. The platform also has plans to include support for Aptos, Sui, Lido, LayerZero, and StarkNet in the future.
Cumberland Labs spearheaded the conception and development of the platform, providing funding, resources, and consulting expertise. Should market conditions permit, the startup intends to seek funding later this year, primarily targeting crypto seed and series A technology infrastructure investors, along with potential strategic investors.
As the cryptocurrency space continues to evolve, more capital is being directed toward developer-oriented solutions and interoperability. Notably, LayerZero Labs, a cross-chain messaging protocol developer, raised $120 million in April to expand its presence in the Asia-Pacific region, following a previous funding round of $135 million in March 2022. Cumberland Labs launch of expand.network represents a step forward in simplifying blockchain connectivity, empowering developers to navigate the DeFi landscape more efficiently and effectively.
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Cumberland Labs launches a beta version of its SaaS API ... - Cryptopolitan